May 07, 2021 Guest(s): Randy Smallwood Wheaton Precious Metals affirmed that the company is primarily a precious metal business despite announcing first production from a cobalt stream from Voisey's Bay. CEO Randy Smallwood spoke to Kitco on Friday. The cobalt deal was first announced in 2018. The company's Q1 was Thursday. Wheaton's revenue was $324 million in the first quarter of 2021, repres...Read More
May 07, 2021 Guest(s): Michael Gayed Portfolio Manager, Toroso Investments When the lumber to gold ratio spikes, it's usually a signal that risk on sentiment will remain strong, said Michael Gayed, portfolio manager at Toroso Investments. Gayed has been tracking the lumber to gold ratio as part of his Lead-Lag report, and his studies have found that peaks and troughs usually lead equity rallies...Read More
Trafigura is in talks with Cliveden Trading to acquire copper purchase and sale contracts from the Zug-based trading house, sources with knowledge of the matter told Fastmarkets.Talks were held between the two companies this week, with Trafigura potentially taking on a portion of Cliveden's copper book, subject to conditions, two sources who declined to be named because the discussions were confid...Read More
High primary aluminium prices and premiums in Europe prevented market participants there from achieving a higher low-carbon aluminium differential throughout April, sources told Fastmarkets on Friday May 7.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe at $10-15 per tonne Friday May 7, flat compared to the last assessment on April 1.Offers as high as $...Read More
May 06, 2021 Guest(s): Keith Neumeyer CEO, First Majestic Silver is a strategic metal, and with mounting industrial demand it's only a matter of time before previous all-time highs are met, and then a new push to triple digits is on the way, said Keith Neumeyer, CEO of First Majestic Silver."Silver is the only commodity that is not reaching its [historic] highs, and it has reached [those highs]...Read More
Metal merchants for years ploughed credit into Liberty Commodities, the trading unit of GFG Alliance, even while banks quietly shunned the company.In separate instances related to nickel and copper deals dating to 2016, blue-chip banks including ICBC Standard Bank, Sberbank and Commonwealth Bank of Australia (CBA) have abruptly halted financing of commodity trades made by Liberty after finding irr...Read More
Bob Moriarty ArchivesMay 7, 2021I wrote about KORE Gold (KORE-V) at the end of October of last year andpredicted KORE would surprise the market.Well, I don’t know about the market but they did surprise me with their January announcement that they were spinning off their BC gold assets. It was a pretty accurate call with the stock going from $1.13 when I wrote to $2.01 seven weeks later. Much...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 6 that are worth another look.Recent changes in Chinese tax policy have resulted in significant rises in the prices for steel billet and finished long steel products from the CIS and...Read More
It was previously last above the benchmark in February 2011.It closed down 0.18% on the London Metal Exchange yesterday to $9,949/t.Nickel also gained, heading back towards $20,000/t as doubt grows about the environmental credentials of Tsingshan Group's recently-announced new technology designed to produce battery-grade metal from nickel matte.Nickel closed up 1.3% to $17,872.50/t.Trafigura's chi...Read More
Adjusted EBITDA recovered to $22.2 million versus $8.1 million a year ago, with revenue up 56% year-on-year and 25% quarter-on-quarter in Q1 to $53.1 million, or $579 per carat sold.Read More
Trafigura is in talks with Cliveden Trading to acquire copper purchase and sale contracts from the Zug-based trading house, sources with knowledge of the matter told Fastmarkets.Talks were held between the two companies this week, with Trafigura potentially taking on a portion of Cliveden's copper book, subject to conditions, two sources who declined to be named because the discussions were confid...Read More
Adam HamiltonArchivesMay 07, 2020 The red-hot US stock markets continue to power inexorably higher, fueling extraordinary complacency and euphoria. With stocks riding an extreme deluge of Fed money printing, selloffs are minor and far between. But are these seemingly-perpetual gains to endless lofty record highs justified fundamentally? The big US stocks' winding-down Q1'21 earnings season illumin...Read More
May 07, 2021 Guest(s): Nouriel Roubini CEO, Roubini Macro Associates While inflationary fears are picking up, the markets have not demonstrated a readiness to accept higher interest rates. In fact, rising nominal treasury yields over the past few months have, on several occasions, prompted market selloffs. This predicament puts the Federal Reserve in a tough position, said Nouriel Roubini, CEO o...Read More
Vancouver, BC -LEAF Mobile Inc. (TSX: LEAF) ("LEAF" or the "Company"), Canada's leading free-to-play mobile game group, will release its first quarter 2021 financial results on Monday, May 17, 2021 after market close. Following the release, the Company will hold a conference call to discuss its performance with the investment community at 2:00 p.m. PT on the same day.Related earnings release mater...Read More
Vancouver, BC - FinCanna Capital Corp. (CSE:CALI) (OTCQB:FNNZF) (the "Company" or "FinCanna") a royalty company for the U.S. licensed cannabis industry, is pleased to announce that its portfolio company, QVI Inc., a cannabis-infused product manufacturer located in Sonoma County, California, doing business as "The Galley", has launched its full service cannabis distribution company "Trident Distr...Read More
Bob Moriarty ArchivesMay 6, 2021NV Gold (NVX-V) has what might be called an embarrassment of riches. I have put money into the company in a bunch of placements and never had until now a single warrant ever make it into the money. I would put money into NVX, the stock would wander around and never do very much and the warrants would end up as wallpaper in my bathroom.A big part of the confusion is...Read More
Chrome and platinum concentrates producer Tharisa acquired 100% of the shareholding of Salene Chrome Zimbabwe on March 31, it has announced.Tharisa agreed a $3 million acquisition from Leto Settlement of an open-pit chrome project, now at the development stage, in Zimbabwe's Great Dyke, the company said in a statement published on Wednesday May 5. Tharisa is based in Europe but operates principall...Read More
Key data from Fastmarkets' Friday May 7 pricing sessions in China, India, Europe and the United States.China Seaborne low- and high-grade manganese ore markets recovered after deals were signed at higher prices for June shipment, and sentiment reacted to stronger downstream markets. Portside low- and high-grade manganese ore prices stayed firm with increased demand from smelters due to profitable...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
McClellan Financial Publications, IncPosted May 5, 2021Apr 30, 2021I have been writing professionally about the financial markets since 1995, and in all of that time I have almost never referenced valuation.It is not because valuation does not matter, but rather that valuation does not give any useful insights to solve my puzzles about what the market is going to do and when. Valuations can get wa...Read More