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Hindustan Zinc records highest ever mine production

ByVictoria

The company recorded its highest-ever nine months mined and refined metal production at 784 kt and 783 kt respectively. The company clocked best-ever third quarter revenue of US$ 1,020 million, up 18% year-on-year.

Hindustan Zinc also registered historic best third quarter EBITDA of US$ 537 million, up 28% with an industry leading EBITDA margin of c. 53%, up c. 400 bps year-on-year. The company also recorded its highest profit after tax (PAT) in the past nine quarters* of USD 317 million, up 32% year on year.

Source – ANTARA News

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London Metals Exchange, Mixed signals in precious metals

ByVictoria
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Zinc, the biggest loser in the LME complex, is currently trading 4.8% lower than at the start of the year.

Meanwhile, tin prices have increased by 13.5% in the first few weeks of the year, making it the biggest winner.

Copper refining grew as expected at 4.2%, but mine production surprised at 2.3%, 0.5% higher than the ICSG September forecast.

The supply of refined copper is under threat due to mine production, which has put downward pressure on processing fees in copper smelters, according to Commerzbank.

The lead market experienced a minor oversupply due to a substantial increase in mine production.

This increase, just under 2%, was fueled by significantly higher supply in the US, Australia, Peru, and Mexico.

Source – Invezz

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Copper miner Freeport-McMoRan reports better than expected profit

ByVictoria
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Phoenix-based Freeport also boosted its budget for the year by roughly 5% to $4.4 billion and forecast an increase for next year as well, surprising investors.

On an adjusted basis, the company earned 31 cents per share in the quarter, compared with the analysts’ average estimate of 20 cents per share, according to data compiled by LSEG.

Source – Reuters

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Gold Horse Minerals drilling identifies gold targets

ByVictoria
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Considering we only listed on the ASX in December 2024, it is pleasing that we have already reported multiple targets from our geochemical survey, achieved excellent results at the Hakes Find project and now unveiled some exceptional intercepts at Hopes Hill

As the Phase 1 drill program continues over the next three to four weeks, our aim is to validate the historic drill results, refine our targeting practices to allow for further follow-up resource development and target depth and down-plunge opportunities in the high-grade zones that we are seeing in the current drilling

Source – Trading View

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Gold eyes milestone, bear case being planted

ByVictoria
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“What we have seen is the change in the motive for safe-haven buying – from being driven by the Middle East uncertainty to the threat and realisation of tariffs,” said Philip Newman, managing director at consultancy Metals Focus.

“Strikingly, gold was rallying as inflation eased, and it looked as though all of our understanding of how gold prices behaved was being challenged,” said independent analyst Ross Norman.

Nicky Shiels, head of metals strategy at MKS PAMP SA, said that while prices could break out towards $3,200, resolution of physical gold dislocations attributed to tariffs and potential structural changes including reduced risk appetite, reduced participation and reduced liquidity are increasingly bearish.

Source – Reuters

More info!

Bear (in finance) – is an investor who believes that a particular security or the broader market is headed downward and my attempt to profit from a decline in stock prices. Bears are typically pessimistic towards a state of any given market or underlying economy.

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Gold eases, Investors wait for US inflation data

ByVictoria
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Gold eased on Wednesday as the dollar ticked up, while investors awaited U.S. inflation data to gauge the Federal Reserve’s rate cut path amid trade tensions and economic slowdown fears and market focussed on news of a potential Ukraine-Russia ceasefire.

Spot gold fell 0.2% to $2,908.93 an ounce as of 0720 GMT, while U.S. gold futures lost 0.2% to $2,908.93.

“Gold is operating in ‘consolidation mode’ ahead of the next batch of U.S. inflation data,” KCM Trade chief market analyst Tim Waterer said.

“I expect gold to remain a favoured asset whilst investors are concerned about tariff wars and growth slowdowns. So, the bias for gold remains to the upside due to ongoing tariff dramas,” Waterer said.

Spot silver shed 0.7% to $32.70 an ounce, platinum rose 0.7% to $981.29 and palladium slipped 0.8% to $938.00.

Source – Reuters