With the exception of oil, commodities fared unusually well in Friday’s bloodbath, led by gold, silver, copper and iron ore.
Indeed, oil rose on Friday, but not enough to erase its fourth consecutive weekly loss. Wednesday’s surge in buying, sparked by a sharp rise in tensions in the Middle East, was not enough to buck the trend, and rising costs following the decline in stock markets and bond yields did not It was enough.
The slowdown in the U. S. economy, combined with weakness in China, is usually enough to cause oil and fuel costs to fall.
OPEC’s Joint Ministerial Supervisory Committee met last week and no adjustments were made to the expanded cartel policy.
West Texas Intermediate crude oil was down 3. 5% at $73. 542 a barrel on Friday, but then rose slightly to end the week at $74. 14, still down 3% for the week. Brent also ended the week down about 3% at $77. 56, in line with the barrel.
Meanwhile, the number of active oil rigs in the United States remained stable during the week through last Friday, according to power company Baker Hughes.
The number of oil rigs was unchanged at 482 for the week, while the number of oil rigs fell from 3 to 98. Rigs were solid at six.
A year earlier, the United States operated 525 oil rigs, 128 fuel rigs and six other rigs. Last week, there were a total of 586 platforms in operation in the United States, up from 659 the year before.
West Texas Intermediate crude oil was down 3. 5% at $73. 67 a barrel due Friday afternoon, while Brent was down 3. 2% at $77 a barrel. Both were on track for a fourth consecutive weekly decline.
“Signs of disappointing expansion in global fuel demand compensation for fears of disruption due to emerging tensions in the Middle East,” D. A. Davidson wrote in a note.
Earlier this week, Iran accused Israel of assassinating Hamas leader Ismail Haniyeh in Tehran and vowed to retaliate. As has been the case since October, “although tensions have developed, they have had little or no effect on oil supplies. ,” ING said on Friday.
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Increases across the board of Deep Leads’ resources: quality, tonnage and target area ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at Deep Leads’ rare ion adsorption clay (IAC) earth deposit in northern Tasmania. The accumulation in MRE comes from 36 tested outlets, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding MoUs within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese raw materials trader, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are set to engage in long-term strategic partnerships with LKE. Trade negotiations are still ongoing but should, namely whether Ford and Hanwa will inject new capital into LKE, removing additional risks in financing the task and thus ensuring that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for expansion of the existing MRE in Lake Throssell, as well as an opportunity for significant expansion in Lake Yeo. This reinforces the prospect of a multi-decade Tier 1 SOP production center around Lake Throssell.
TMG is currently completing work for the planned PFS in early 2023, adding start of drilling in Q3 2022, evaporation testing and permitting activities. The effects of those systems will affect the PFS and any long-term resource upgrades.
The SOP reference values have increased to approximately $940/t due to recent geopolitical events. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% increased value effects in a $144 million NPV increase in the $364 million task NPV. The increase of approximately 70% compared to the scoping study implies a NPV allocation of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to show an improvement in its main indicators.
WT Financial Group Limited (WTL) is a diversified money company in development, founded in 2010 and indexed to the Australia 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. of WTL under its broker organization businesses Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). He has approximately 275 advisers at over two hundred money advisory 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 full study report on ASX-listed biotech Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect found it imperative to publish a follow-up report that valued the company, as the market did not see the great prospects of eftilagimod alfa (efti).
This follow-up report was released today. Using comparables, after adding a reduction of money to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at AU$2. 20.