Thursday, February 25, 2021 8:02:22 AM
*AM Metals Roundup*PRECIOUS-Gold falls 1% as elevated U.S. yields hit safe haven appeal
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By Diptendu Lahiri
* Fed Chair Powell reaffirms extended loose monetary policy
* SPDR Gold Trust holdings slip to lowest since May 2020
* Palladium scales more than one-month high (Adds comments, updates prices)
Feb 25 (Reuters) - Gold prices fell 1% on Thursday as U.S. treasury yields remained elevated, with bullion’s safe haven appeal also hit by bets for a faster global economic recovery.
Spot gold fell 0.6% to $1,793.39 per ounce by 1039 GMT, after falling as much as 1% earlier in the session. U.S. gold futures eased 0.4% to $1,791.00 per ounce.
“Rising Treasury yields on a better economic outlook in the second half of the year is putting pressure on the metal,” Bank of China International analyst Xiao Fu said.
While gold is often sought as a hedge against inflation, higher bond yields have eroded that status since they increase the opportunity cost of holding bullion.
Gold’s dip came despite a weaker dollar and U.S. Federal Reserve Chairman Jerome Powell’s reiteration on Wednesday that monetary policy would be unchanged until the economy gets back to full employment.
“Overall, there are conflicting forces, we have the rising yields, but a weaker dollar,” Bank of China’s Fu said.
Mirroring investor sentiment, holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell to their lowest since May 2020 on Wednesday.
Gold’s weakness can be attributed to its inability to sustain above the $1,800 mark, even with a weakening dollar and stimulus packages that might lead to higher inflation, said Sunilkumar Katke, head of currencies and commodities at Axis Securities.
“But, there are chances that once the market prices in all the positive factors driving riskier assets, and they start consolidating, gold might emerge back and hit the $2,000 level again this year.”
Among other precious metals, silver rose 0.3% to $28.06 an ounce. Platinum fell 1%, to $1,255.67 .
Palladium was down 0.4% at $2,427.75 , having earlier climbed to a more than one-month high of $2,444.50.
.
.
.
The metals were hit hard in the early morning hours.
This is often the case on the day after an option expiration on the Comex.
Stocks slumped very hard again led lower by tech.
Jay Powell, Fed Chair, helped to talk the market back up during his testimony today.
The metals recovered, led higher by the miners, especially silver.
Lately the manipulation is open and predictable, shameless and without fear of consequences.
And if some notice, they are easily distracted by nonsense, bread, and circuses.
We love our illusions. The more empty they become, the more strongly we embrace them.
Through years of short term thinking and private greed our systems have grown increasingly fragile and vulnerable.
Are you not entertained?
"The banks must be restrained, and the financial system reformed, and balance restored to the economy, before there can be any sustained recovery."
Jesse, July 2009
Have pleasant evening.
https://jessescrossroadscafe.blogspot.com/
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.
.
Sibanye-Stillwater makes battery metals entry
Sibanye-Stillwater CEO Neal Froneman says the investment offers the opportunity for further geographic diversification in an attractive mining destination.
23rd February 2021
By: Mariaan Webb
Precious metals miner Sibanye-Stillwater has entered the battery metals sector through an investment in lithium firm Keliber, which has a goal of being the first European company producing high-purity, battery-grade lithium hydroxide from its own ore.
The South Africa-based major would make a €30-million investment in Keliber, earning it a 30% equity shareholding, the companies announced on Tuesday.
“In line with our strategic objective of entering the battery metals industry, lithium is viewed as one of the core metals to benefit from the significant growth forecast for the electric vehicle sector,” said Sibanye-Stillwater CEO Neal Froneman in a statement.
Together with a further €10-million issuance to existing shareholders, Keliber stated that it had secured bridge financing of €40-million to advance its €340-million (about R6-billion) lithium project in central Ostrobothnia, Finland, with an aim of starting production in three years’ time.
“We are delighted to have reached this agreement with Sibanye-Stillwater. This agreement responds to the fast-growing need of lithium in the era of electric transport, renewable energy and electrification of consumer products,” said Keliber CEO Hannu Hautala.
Sibanye-Stillwater’s and existing shareholders’ investment would significantly accelerate the Keliber project.
The bridge financing would enable work for permitting, additional piloting, needed engineering and recruiting the right talent. An update of the definitive feasibility study for the lithium project is scheduled in the first quarter of 2022.
Based on a feasibility study completed in 2019 and improved in 2020, Keliber currently has 9.3-million tonnes of ore reserves, sufficient for more than 13 years of operation.
The mine would produce an average of 15 000 t/y of battery grade lithium hydroxide. The project includes the development of a chemical plant in Kokkola, about 50 km from the mining area.
Future lithium hydroxide production has not been committed to any offtake party.
When in production from 2024 on, Keliber is expected to employ 150 to 200 people for various positions.
Keliber aims to secure project financing by the second half of 2022. The project financing would include both a debt and equity component.
Europe is rapidly becoming a leading hub for the manufacture of batteries for EVs and Keliber’s location in Finland enables efficient transport of lithium hydroxide to European customers, Sibanye-Stillwater points out.
The Finnish Minerals Group (FMG), which manages the Finnish State’s mining industry shareholdings, is the largest shareholder in Keliber and is focused on creating partnerships and co-investments with a view to developing the Finnish battery EV supply chain.
"The investment offers the opportunity for further geographic diversification in an attractive mining destination and the opportunity to forge long-term relationships with established lithium industry players that have a shared vision of supplying the electric vehicle supply chain. Together with FMG we have committed to make this a showcase ESG operation," said Froneman.
https://www.miningweekly.com/article/sibanye-stillwater-makes-battery-metals-entry-2021-02-23
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Palladium One Closes $15 Million Bought Deal Financing
February 24, 2021
View PDF
February 24, 2021 – Toronto, Ontario – Palladium One Mining Inc. (TSX-V: PDM, OTC: NKORF, FRA: 7N11) (the “Company” or “Palladium One”) is pleased to announce that it has closed its previously announced bought deal financing of $15,009,000 of securities of the Company (the “Offering”). The Offering was underwritten on a “bought deal” basis by a syndicate of underwriters led by Sprott Capital Partners LP, and including Mackie Research Capital Corporation (collectively, the “Underwriters”).
https://www.palladiumoneinc.com/news/2021/palladium-one-closes-dollar15-million-bought-deal-financing
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Very Cool
History of the Silver State: Nevada and its Silver Districts
February 25, 2021
https://silverseek.com/article/history-silver-state-nevada-and-its-silver-districts
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Lithium Prices Soar As Tesla, Apple And Google Fight For Supply
February 24, 2021
The electric vehicle (EV) revolution is gaining serious momentum.
This is a sponsored article from Oilprice.com
According to experts’ projections, demand for electric vehicles should rise at a 21.1% Compound Annual Growth Rate (CAGR) until 2026.
The extraordinary demand that is forecast for EVs over the next five years has now begun to trigger a massive disruption in the global energy markets.
https://www.silverdoctors.com/headlines/world-news/lithium-prices-soar-as-tesla-apple-and-google-fight-for-supply/
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MARKET MOVERS
Pan American Silver
Lithium Americas
Franco-Nevada
MAG Silver
Torex Gold Resources
Newcrest Mining
Polymet Mining
First Majestic Silver
Abitibi Royalties
Nexa Resources
Agnico Eagle Mines
New Pacific Metals
NioCorp Developments
Victoria Gold
HudBay Minerals
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.
HIGH VOLUME
Red Pine Exploration 10,253,753 $0.07
District Copper 7,773,998 $0.04
Klondike Silver 6,228,977 $0.15
Fabled Silver Gold 6,019,599 $0.27
Zinc One Resources 5,938,888 $0.03
Nevada Copper 4,977,824 $0.21
Kinross Gold 4,332,259 $8.53
Mountain Boy Minerals 4,135,996 $0.21
Uranium Energy 4,104,410 $2.31
Yamana Gold 3,984,984 $5.66
B2Gold 3,816,467 $6.11
Chilean Metals 3,214,468 $0.31
Honey Badger Silver 3,154,136 $0.13
NioCorp Developments 3,085,306 $1.32
Comstock Mining
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Have a Great Day
.
.
.
.
By Diptendu Lahiri
* Fed Chair Powell reaffirms extended loose monetary policy
* SPDR Gold Trust holdings slip to lowest since May 2020
* Palladium scales more than one-month high (Adds comments, updates prices)
Feb 25 (Reuters) - Gold prices fell 1% on Thursday as U.S. treasury yields remained elevated, with bullion’s safe haven appeal also hit by bets for a faster global economic recovery.
Spot gold fell 0.6% to $1,793.39 per ounce by 1039 GMT, after falling as much as 1% earlier in the session. U.S. gold futures eased 0.4% to $1,791.00 per ounce.
“Rising Treasury yields on a better economic outlook in the second half of the year is putting pressure on the metal,” Bank of China International analyst Xiao Fu said.
While gold is often sought as a hedge against inflation, higher bond yields have eroded that status since they increase the opportunity cost of holding bullion.
Gold’s dip came despite a weaker dollar and U.S. Federal Reserve Chairman Jerome Powell’s reiteration on Wednesday that monetary policy would be unchanged until the economy gets back to full employment.
“Overall, there are conflicting forces, we have the rising yields, but a weaker dollar,” Bank of China’s Fu said.
Mirroring investor sentiment, holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell to their lowest since May 2020 on Wednesday.
Gold’s weakness can be attributed to its inability to sustain above the $1,800 mark, even with a weakening dollar and stimulus packages that might lead to higher inflation, said Sunilkumar Katke, head of currencies and commodities at Axis Securities.
“But, there are chances that once the market prices in all the positive factors driving riskier assets, and they start consolidating, gold might emerge back and hit the $2,000 level again this year.”
Among other precious metals, silver rose 0.3% to $28.06 an ounce. Platinum fell 1%, to $1,255.67 .
Palladium was down 0.4% at $2,427.75 , having earlier climbed to a more than one-month high of $2,444.50.
.
.
.
The metals were hit hard in the early morning hours.
This is often the case on the day after an option expiration on the Comex.
Stocks slumped very hard again led lower by tech.
Jay Powell, Fed Chair, helped to talk the market back up during his testimony today.
The metals recovered, led higher by the miners, especially silver.
Lately the manipulation is open and predictable, shameless and without fear of consequences.
And if some notice, they are easily distracted by nonsense, bread, and circuses.
We love our illusions. The more empty they become, the more strongly we embrace them.
Through years of short term thinking and private greed our systems have grown increasingly fragile and vulnerable.
Are you not entertained?
"The banks must be restrained, and the financial system reformed, and balance restored to the economy, before there can be any sustained recovery."
Jesse, July 2009
Have pleasant evening.
https://jessescrossroadscafe.blogspot.com/
.
.
.
Sibanye-Stillwater makes battery metals entry
Sibanye-Stillwater CEO Neal Froneman says the investment offers the opportunity for further geographic diversification in an attractive mining destination.
23rd February 2021
By: Mariaan Webb
Precious metals miner Sibanye-Stillwater has entered the battery metals sector through an investment in lithium firm Keliber, which has a goal of being the first European company producing high-purity, battery-grade lithium hydroxide from its own ore.
The South Africa-based major would make a €30-million investment in Keliber, earning it a 30% equity shareholding, the companies announced on Tuesday.
“In line with our strategic objective of entering the battery metals industry, lithium is viewed as one of the core metals to benefit from the significant growth forecast for the electric vehicle sector,” said Sibanye-Stillwater CEO Neal Froneman in a statement.
Together with a further €10-million issuance to existing shareholders, Keliber stated that it had secured bridge financing of €40-million to advance its €340-million (about R6-billion) lithium project in central Ostrobothnia, Finland, with an aim of starting production in three years’ time.
“We are delighted to have reached this agreement with Sibanye-Stillwater. This agreement responds to the fast-growing need of lithium in the era of electric transport, renewable energy and electrification of consumer products,” said Keliber CEO Hannu Hautala.
Sibanye-Stillwater’s and existing shareholders’ investment would significantly accelerate the Keliber project.
The bridge financing would enable work for permitting, additional piloting, needed engineering and recruiting the right talent. An update of the definitive feasibility study for the lithium project is scheduled in the first quarter of 2022.
Based on a feasibility study completed in 2019 and improved in 2020, Keliber currently has 9.3-million tonnes of ore reserves, sufficient for more than 13 years of operation.
The mine would produce an average of 15 000 t/y of battery grade lithium hydroxide. The project includes the development of a chemical plant in Kokkola, about 50 km from the mining area.
Future lithium hydroxide production has not been committed to any offtake party.
When in production from 2024 on, Keliber is expected to employ 150 to 200 people for various positions.
Keliber aims to secure project financing by the second half of 2022. The project financing would include both a debt and equity component.
Europe is rapidly becoming a leading hub for the manufacture of batteries for EVs and Keliber’s location in Finland enables efficient transport of lithium hydroxide to European customers, Sibanye-Stillwater points out.
The Finnish Minerals Group (FMG), which manages the Finnish State’s mining industry shareholdings, is the largest shareholder in Keliber and is focused on creating partnerships and co-investments with a view to developing the Finnish battery EV supply chain.
"The investment offers the opportunity for further geographic diversification in an attractive mining destination and the opportunity to forge long-term relationships with established lithium industry players that have a shared vision of supplying the electric vehicle supply chain. Together with FMG we have committed to make this a showcase ESG operation," said Froneman.
https://www.miningweekly.com/article/sibanye-stillwater-makes-battery-metals-entry-2021-02-23
.
.
Palladium One Closes $15 Million Bought Deal Financing
February 24, 2021
View PDF
February 24, 2021 – Toronto, Ontario – Palladium One Mining Inc. (TSX-V: PDM, OTC: NKORF, FRA: 7N11) (the “Company” or “Palladium One”) is pleased to announce that it has closed its previously announced bought deal financing of $15,009,000 of securities of the Company (the “Offering”). The Offering was underwritten on a “bought deal” basis by a syndicate of underwriters led by Sprott Capital Partners LP, and including Mackie Research Capital Corporation (collectively, the “Underwriters”).
https://www.palladiumoneinc.com/news/2021/palladium-one-closes-dollar15-million-bought-deal-financing
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.
Very Cool
History of the Silver State: Nevada and its Silver Districts
February 25, 2021
https://silverseek.com/article/history-silver-state-nevada-and-its-silver-districts
.
.
.
Lithium Prices Soar As Tesla, Apple And Google Fight For Supply
February 24, 2021
The electric vehicle (EV) revolution is gaining serious momentum.
This is a sponsored article from Oilprice.com
According to experts’ projections, demand for electric vehicles should rise at a 21.1% Compound Annual Growth Rate (CAGR) until 2026.
The extraordinary demand that is forecast for EVs over the next five years has now begun to trigger a massive disruption in the global energy markets.
https://www.silverdoctors.com/headlines/world-news/lithium-prices-soar-as-tesla-apple-and-google-fight-for-supply/
.
.
MARKET MOVERS
Pan American Silver
Lithium Americas
Franco-Nevada
MAG Silver
Torex Gold Resources
Newcrest Mining
Polymet Mining
First Majestic Silver
Abitibi Royalties
Nexa Resources
Agnico Eagle Mines
New Pacific Metals
NioCorp Developments
Victoria Gold
HudBay Minerals
.
.
HIGH VOLUME
Red Pine Exploration 10,253,753 $0.07
District Copper 7,773,998 $0.04
Klondike Silver 6,228,977 $0.15
Fabled Silver Gold 6,019,599 $0.27
Zinc One Resources 5,938,888 $0.03
Nevada Copper 4,977,824 $0.21
Kinross Gold 4,332,259 $8.53
Mountain Boy Minerals 4,135,996 $0.21
Uranium Energy 4,104,410 $2.31
Yamana Gold 3,984,984 $5.66
B2Gold 3,816,467 $6.11
Chilean Metals 3,214,468 $0.31
Honey Badger Silver 3,154,136 $0.13
NioCorp Developments 3,085,306 $1.32
Comstock Mining
.
.
Have a Great Day
.
.
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