The AOCE and WB have moderate overall forecasts for the metals in 2025 inline with IMF forecasts for a decline in economic growth and inflation, although we see the probability of a stagflationary scenario as still reasonably high.Read More
The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More
This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More
Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More
Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More
Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More
The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More
In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More
Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More
The idea of a soft landing is only a reality if you exclude, in most cases, rather devasting financial consequences. Learn more about soft landing scenario.Read full newsRead More
Fourth-quarter earnings released Thursday show the firm's profits available to be distributed to shareholders tumbling 41% year-over-year.Read full newsRead More
KKR Income Opportunities Fund announces a rights offering which may be highly dilutive to NAV. Click here to read more about the KOI rights offering.Read full newsRead More
(IDEX Online) - Mountain Province reported a 20 per cent drop in total proceeds for FY 2022 after a "very challenging start to the year".The Canadian miner sold fewer carats - down from 3.16m in 2021 to 2.66m - but average prices per carat were up a third from US$75 to US$112.Q4 sales for 2022 were US$71.3m, up from US$67.5m for Q4 of 2021. In Q3 of 2022 sales hit $81m - the highest quarterly figu...Read More
(IDEX Online) - A collection of "space diamonds" have landed, after an 18 million mile journey orbiting Earth.The first-ever batch of diamonds a NASA mission will be numbered, laser engraved and documented by the American Gem Society Laboratory as having been in space.The gems - a mix of mined and lab growns - blasted off on Elon Musk's SpaceX-26 from Kennedy Space Center, Florida...Read More
FSTX seems undervalued, even at the $7.12 takeover bid. CFIUS is delaying the closure of the deal, citing review needed to allay US national security concerns. Read more here.Read full newsRead More
UDR is an S&P 500 company with apartments in desirable markets across the US. Read more here.Read full newsRead More
NVAX may remain volatile in the short term due to the $700M Advance Purchase Agreement dispute with GAVI. Click here to read my most recent analysis of NVAX.Read full newsRead More
Choice Properties' main tenant is the Loblaw group of companies, a related party. Read more here.Read full newsRead More
ZM seeks to take on MSFT's enterprise market with the aggressive launch of its all-in-one communication platform through Zoom One. Click here to read more.Read full newsRead More
In the vast swath of tech innovation that is artificial intelligence, Microsoft has just plonked down a major stake in the ground.Read full newsRead More
The following slide deck was published by Banco de Sabadell, S.A.Read full newsRead More
The evidence indicates that the Fed's rate hikes are having the desired effects. Read more here.Read full newsRead More
Banco de Sabadell, S.A. (OTCPK:BNDSF) Q4 2022 Earnings Conference Call January 26, 2022 3:00 AM ETCompany ParticipantsGerardo Artiach Morenes - IRCesar Gonzalez-Bueno - CEOLeopoldo Alvear -...Read full newsRead More
Sharp declines in private sector borrowing in December show that the ECB's sharp interest rate rises are starting to have the desired effect.Read full newsRead More
Consumer spending slowed sharply through the fourth quarter and we will need to see a rapid turnaround to prevent a contraction in the first quarter of this year.Read full newsRead More
United Bankshares' Q4 results showed record net interest income and growing loans. Read more here.Read full newsRead More
We view robotaxi services as highly disruptive to the transport/delivery industry, due to the cost advantage. Read more to see how we think this will impact UBER.Read full newsRead More
Real GDP rose 2.9% in Q4 2022, exceeding estimates ranging from 2.6% to 2.7%. This puts the first estimate of overall US economic growth in 2022 at 2.1%.Read full newsRead More