The Good Morning Report – 3rd of July

1. That magical stockpile of SILVER that replenished the Shanghai Futures Exchange vaults actually came from the Shanghai Gold Exchange – so it was merely a reshuffling of inventory rather than fresh supply….SILVER prices could quite easily be ready for another big run.

2. Palladium had a decent night with a 4.7% move higher…..BUY ETPMPD & Chalice (CHN)

3. Jayson Tatum just signed the biggest contract in NBA history: $315 mil over 5 years….Inflation is alive and well.

4. The definitive feasibility study to mine Regis (RRL) Mcphillamys GOLD deposit in NSW is due to be released any day….I’m expecting another cost blowout, but strong margins will still be available meaning it can become a very profitable mine one day. BUY

5. I think Gina Rineheart is going to keep accumulating Lynas (LYC) shares and eventually make a full takeover offer for the stock…..In my view the market underestimates the strategic value of LYC’s glorious deposit of rare earths. BUY

ASX 200 down 32 points to 7718

It was a nice session for us with COAL miners, OIL&GAS stocks and ETPMAG pushing higher….One that put a smile on my dial was seeing YanCoal (YAL) close at a fresh all time high of $7.02 – what a gem of a stock that has been over the past few years : solid capital growth and huge dividends. HOLD

Maybe Fabio is set to make a comeback to sell us these tubs of cancer.

A reasonable overnight scoreboard for us….

  • ASX futures up 7 points
  • Bitcoin down 2% to $62,323
  • BHP in US down 0.5%
  • Newmont in US up 0.2%
  • URNM in US down 0.73%

Movements affecting our resource stocks today (USD)

  • Gold FLAT @ $2339
  • Paper Silver up 0.77% to $29.84 (c’mon baby – crack $30 for a launch to $50!!)
  • Platinum up 2.39% to $1012
  • Palladium up 4.67% to $1019
  • Copper up 0.19% to $4.42
  • Brent Crude down 0.23% to $86.40
  • Iron ore up 0.3% to $110

Japan up 1.12%, Hong Kong added 0.29% and China was FLAT

No need to over think it….BUY Lynas (LYC) – the rare earths miner is a strategically important company for the WEST.

DOW up 158

The clip below has gone viral with 47million views already…..It truly is a no brainer to AVOID all mainstream media stocks.

Germans down 0.69%, Brits off 0.56% and Frogs fell 0.3%

Inflation in the EU came in at 2.5% which led ECB President Christine Lagarde to claim that the bloc was “very advanced on that disinflationary path”…..Reality is, prices continue to rise and are 2.5% higher than the already big price increases from the past few years.

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July 9, 2024.
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