Market briefing – ortac resources, galileo resources, australian mines and others mining bitcoins 2016

• America’s changing stance towards combating climate change looks to increase pollution and weaken the country’s leadership in energy innovation, as the proposed Republican Tax Plan cuts electric vehicle and clean energy tax credits.

• The draft bill released by the U.S bitcoin price canada. House Ways and Means Committee would eliminate the electric vehicle tax credit ($7,500 per EV), reduce the Production Tax Credit for wind power by more than a third, and axe the permanent 10 percent Investment Tax Credit for solar and geothermal power.

• Removal of these incentives are expected to weaken the growth of the clean technology revolution in the US, hampering efforts to reduce the global impact on harmful pollution, negatively impact one of the fastest growing employment sectors in the country and reduce demand for crucial battery raw materials.


• The impact of the bill on the electric economy growth is unclear given that the US is a single country in the global EV market, however sales of electric vehicles in Hong Kong plummeted to zero when subsidies were cut by 20 percent. The move is likely to heighten the importance of producing economically competitive vehicles, with cost reducing batteries looking to lessen the amount of cobalt and replacing it with cheaper nickel.

• China’s winter war on smog is lifting steel prices as the nation’s top steel producing province surpasses its capacity reduction targets, slashing 25.55 million tonnes. Steel’s gains helped push up the prices of raw materials, with iron ore futures surging more than 6 percent to their highest levels in two weeks.

• In an effort to curb pollution during winter, encompassing the heating months of November to March, Hebei province looks to limit steel and iron ore output by 50 percent in major producing cities including Tangshan, Handan, and Shijiazhuang best bitcoin mining rig. The air quality measures are helping to tighten supply of iron ore, while bullish market demand outlook in 2018 is expected to drive prices to new highs.

• US bond yields were little changed on the back of the news swingin a couple of basis points mid-day on Friday while gold settled around $10/oz lower as expectations for a rate hike in December remained on the cards.

• Zhou Xiaochuan who nears retirement and may be replaced as early as next month published an article over the weekend warning of “hidden, complex, sudden, contagious and hazardous” financial risks in the economy.

• Strong inflow of new business orders saw composite production index climbing to the joint-highest level in almost four years “indicating a marked improvement in private sector business conditions”.

• Last Friday, the Spanish government has issued European arrest warrants against Puigdemont, Antoni Comin, Clara Ponsati, Meritxell Serret and Lluis Puig for trying to “illegally change the organisation of the state through a secessionist process that ignores the constitution”.

• “Events in Catalonia acted to dampen growth, with the impact on service providers greater than was seen for manufacturers in the sister PMI survey last week…there were reports of clients delaying spending decision amid uncertainty, while business sentiment dropped to the lowest in over a year,” Markit wrote.

• Strong US data helped boost the dollar index in range with a high of more than three-months, as the labour market sustained acceleration and the services sector grew to its strongest rate since August 2005. Despite falling 16% short of expectations, US non-farm employment grew 261,000 in October, the largest increase since July 2016, while non-manufacturing purchasing managers’ index boosted services sentiment to climb to 60.1 points.

• Gold dropped further as market confidence grew in a US Fed interest rate rise between 1.25% and 1.5% in December, as 96.7% market participants favour the rise (CME Group’s FedWatch).

• The metal may find support as President Donald Trump starts his 12-day Asian tour bitcoin mining free. The trip looks to present a united front with Japan, as a military deal with the ally aims to “qualitatively and quantitatively” enhance its defense capabilities with American military equipment given the “very tough” North Korea situation.

• Hedge funds and money managers reduced net long positions in COMEX copper contracts despite positive electric vehicle sentiment helping the metal climb 6.7 percent this quarter to record its sixth consecutive growth quarter.

• China’s winter war on smog lifts steel prices as the nation’s top steel producing province surpasses its capacity reduction targets, slashing 25.55 million tonnes. Steel’s gains helped push up the prices of raw materials, with iron ore futures surging more than 6 percent to their highest levels in two weeks.

• In an effort to curb pollution during winter, encompassing the heating months of November to March, Hebei province looks to limit steel and iron ore output by 50 percent in major producing cities including Tangshan, Handan, and Shijiazhuang how do i open a bitcoin account. The air quality measures are helping to tighten supply of iron ore, while bullish market demand outlook in 2018 is expected to drive prices to new highs.

• Unexpected physical demand for coking coal and iron ore has initiated strong buying of futures as investors forecast the gap between physical and future prices to close on higher consumption.

• Management are continuing trial mining and and are building a demonstration-scale process plant to produce commercial-grade samples of cobalt sulphate, nickel sulphate and scandium oxide.

• This placement ensures Australian Mines is fully-funded to complete the BFS, increase its trial mining activities, finalise construction the demonstration plant and produce commercial-grade samples.

• Condor Gold has announced results from the final six holes of its recently completed 43 hole drilling programme testing the Mestiza Vein Set on the La India property in Nicaragua.

• The objective of drilling four veins comprising the Mestiza Vein Set (the Tatiana, Buenos Aires, Jicaro and Mestiza veins) “was to convert the upper part of a Historic Soviet mineral resource (2,392,000 tonnes at 10.2 grams per tonne gold for 785,694 ounces of gold ) to Canadian NI 43-101 standard however this has now also developed into allowing Condor to better understand the extent of the mineralisation and further resource potential at Mestiza, which is open along strike beyond the Soviet resource.”

• The current drilling, which extends to a maximum of 200m below surface, has demonstrated “excellent continuity of the structures, high grade ore from surface and open pit potential.”

o Analysis of the structural geology indicates that “correlates high grade gold mineralisation with bends in the vein … [where] … bends created more open space, allowing more hydrothermal fluid circulation, resulting in higher grade.”

o The company also comments that “The deepest drill holes, about 200m below surface, intersected lower grades and/or narrower veins. [which] … may reflect pinching of the vein or the base of the oxide zone and supergene enrichment.” We also wonder whether, with the higher grade portions of the veins said to be pitching steeply towards the west, drilling may have missed the higher grade portions at depth.

o In addition to the drilling on the Mestiza veins, known to extend over a strike length of “at least 3.5km”,recent mapping has identified a parallel vein, the Tortuga Vein which will no doubt be a candidate for future drilling.

Conclusion: The La India project already hosts a 1.3m oz gold resource on the main La India Vein Set. Drilling at the Mestiza veins and a recently identified parallel vein at Tortuga point to the scope for substantial increases to the overall resource as exploration develops.

• The company has outlined the characteristics of the Star Zinc Project in Zambia where it recently acquired a 51% interest and may earn up to 85% through the completion of a preliminary economic assessment.

• The project hosts “An independently verified non-JORC compliant hard rock resource” of 275,166 tonnes at an average grade of 20.2% zinc, using a 14% zinc cut-off grade bitcoin wallet registration. The company comments that reducing the cut-off to 12% zinc increases the tonnage by 18% to 325,941 tonnes at an average grade of 19.1% zinc.

• The project operated intermittently during the 1950s and 1960s and the “mineralisation is interpreted to form two shallowly dipping lenses east and west of the open pit, mineralisation of which is around 40m deep, based on the independent model used for the resource calculation.”

• Initial works, including soil sampling “on a 400m x 200m grid pattern covering the accessible and exploitable areas of the licence” and updating environmental work is expected to take around six weeks.

• Galileo has committed to spend US$250,00 over an 18 months period to complete the preliminary studies which are expected to include drilling in order to upgrade the current resource to the JORC (2012) Code and to test the potential for resource expansion.

Conclusion: At this stage, the Star Zinc Project appears to be relatively small but high grade zinc deposit history of bitcoin. Further work is to be undertaken to establish the potential for resource expansion and to investigate additional geological environments for mineralisation in sub vertical structures identified within the old pit. We await news of the exploration results in due course.

• Ortac are offering CASA shareholders a total of 100m new Ortac shares with shares being locked in for six months following the admission of the new shares issued to them to ensure an orderly market.

• CASA Mining holds 71.25% of the Misisi Gold project in South Kivu in the Eastern part of the DRC. CASA’s licenses cover some 60km of the Misisi Corridor which include the Akyanga gold resource as well as the Lubitchako, Tulongwe, Kilombwe and Mutshobwe prospects.

• US$30m has been spent drilling and exploring these Misisi targets, much of this was formerly funded by expert PE mining investor, Denham Capital before the fund consolidated its funding and attention onto the super-high grade open pit Alphamin tin project which has a resource of 3.6mt grading 4.52% tin bitcoin wallet address example. Denham Capital holds 44% of Alphamin (AFM CN)

o The latest results join with other higher-grade gold intersections to indicate better potential at Akyanga where the calculated gold resource is currently at 5.5mt grading 1.5g/t gold.

o The apparent nature of what looks like coarse grained gold in the results indicates to us that process costs could be relatively low with much of the gold easily recovered by gravity.

Conclusion: Ortac is now pushing ahead in the consolidation of CASA Mining best bitcoin buying sites. The new strategy to drive the business forward should lead to new value generation from Ortac’s current asset base.

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