Oil is up. OPEC is cutting supply (so they tell me).
Nickel is up. Supply is dwindling as Sudbury mothballs itself piece by piece (so they tell me).
Zinc is down. Discuss.
As for a few stocks……..
FCX up 6% and PCU up 1.5%. I’m the guy that nailed the call on FCX but didn’t put a bean on it. Is that smart or stupid? YOU BE THE JUDGE!
Fortuna Silver (FVI.v) up 9% at $0.70. YAY!!! There is justice! Hot damn this stock is cheap, and it’s high time the market saw it so. 25% up in just a couple of days and plenty of volume to like, too. Yes, FVI.v is a site sponsor, but it only got on here because i like it. Don’t put the cart before the horse, dudettes and dudes. DYODD, as always.
Great Panther (GPR.to) down 16% at $0.25 today. This stock shows the flipside to Fortuna’s strong balance sheet and why having a big slug of cash and low cash costs is vitally important these days. After the bell yesterday GPR.to announced at big dilutive placement to raise $2.7m, via 13.5m shares at 20c a pop (and a half warrant attached that puts the full dilute over 100m).
This $2.7m is for payroll…no more and no less. That sucks. This is a company that tried and failed to raise capital on its recent London trip and are now forced to dilute because they have no cash left. As the old saying goes:
* copyright RB