Gold hit a new record high on Friday, despite a rise in the U. S. dollar and U. S. Treasury bond yields, supported by the U. S. economy that created far more new jobs than expected last month. Tensions in the Middle East around Gaza and Iran’s willingness to retaliate for an attack on its embassy in Syria further fueled gold’s surge.
Comex gold for June delivery closed up $36. 90 at $2,345. 40 an ounce, up 1. 76% on the day and more than 4% on the week. Even after hours of trading, gold in June rose to $2,349. 10 an ounce, defying expectations of a sell-off amid an emerging dollar and bond yields on the back of strong jobs data.
The U. S. Bureau of Labor Statistics reported a staggering 303,000 new jobs in March, beating consensus expectations of 200,000 jobs, pushing the dollar higher and making gold more expensive for foreign buyers.
Amid those moves, China’s processing industry is facing ongoing demanding situations due to a shortage of concentrates, and costs are reaching an annual high of $9,256 per tonne on the LME.
Oil futures were up about 4% on the week, with final Brent at $90. 86 per barrel and West Texas crude at $86. 91, marking either their final value in months. Despite a slight increase in the number of operating oil rigs in the United States, the total number remained lower than last year.
Meanwhile, OPEC has maintained its production quotas, thus exerting a continued impact on global supply, while Saudi Arabia has increased its official selling prices for Asian investors.
By contrast, May SGX iron ore futures closed the week at $96. 85, down more than 5% from last week and just about 32% from the yearly high of $140 consistent with the tonne reached in January.
Get updates delivered straight to your inbox.
Terms of Use | Privacy Policy | Contact | Mail
Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, i. e. if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of the financing of the assignment and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the drop in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to record an improvement in its key industry indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.