American Battery Metals Corporation Issues Shareholder Letter
In: Business Letter
INCLINE VILLAGE, NV / ACCESSWIRE / October 13, 2020 / American Battery Metals Corporation (OTCQB:ABML) (the "Company"), an American-owned lithium-ion battery recycling technology and advanced extraction company with extensive mineral resources in Nevada, is pleased to provide the following Shareholder Letter.
Dear Valued Shareholders,
I am excited to share with you reflections on American Battery Metals Corporation's 2020 achievements and to preview our plans for the year ahead.
As you know, American Battery Metals Corporation (soon to be re-named American Battery Technology Company "ABTC") is a startup company in the lithium-ion battery industry. We have built a clean technology platform that increases production of primary metals used in the batteries that power electric cars, grid storage applications, consumer electronics and tools.
Our green platform creates a circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical materials.
ABTC has built its capacity to produce these metals
Industrial metals production rises for the first time in six months
In: Business Line
India's industrial production, as measured by the Index of Industrial Production (IIP), contracted for the sixth month in a row in August by 8 per cent y-o-y. However, one good news is that basic metals production improved from a year ago levels. The basic metals sub-index in IIP recorded a growth of 0.1 per cent y-o-y in August. This is significant, since the index was in contraction since February and in April recorded the steepest drop of 70 per cent.
Another optimistic signal is also the recovery in the Purchasing Managers' Index (PMI). The PMI, which was 52 in August, moved higher to 56.8 in September — the fastest growth since January 2012, recovering from 27.4 in April.
Government housing and electrification projects have been driving demand for metals, say physical market participants. Consumption of long steel has seen sharp recovery – it was 4.5 million tonnes (mt) in August,
Precious Metals And Cryptocurrencies – Third Quarter 2020 Review (NYSEARCA:GLTR)
In: Business News Articles
The precious metals sector of the commodities market posted a gain over the third quarter of 2020, with all members of the sector posting impressive gains. The sector has moved over 17% higher over the first nine months of 2020.
The composite of the four precious metals that trade on the COMEX and NYMEX divisions of the CME dropped by 5.44% in Q1 2020. In Q2, it gained 11.52%. In Q3, it vaulted 14.30% to the upside and was 17.46% higher over the first nine months of this year.
In Q1, the outbreak of coronavirus and the upcoming US election caused volatility in markets across all asset classes. During the final week of February, risk-off conditions caused central banks around the world to ease, which continued to support the price of gold. In March, the US central bank lowered the Fed Funds rate to zero percent and launched bazookas of
JPMorgan to pay $920 million for manipulating precious metals, treasury market
Oden Capital Group chief financial strategist Dick Bove on his outlook for banks amid allegations of suspicious transactions.
JPMorgan Chase & Co JPM.N has agreed to pay more than $920 million and admitted to wrongdoing to settle federal U.S. market manipulation probes into its trading of metals futures and Treasury securities, the U.S. authorities said on Tuesday.
The landmark multi-agency settlement lifts a regulatory shadow that has hung over the bank for several years and marks a signature victory for the government's efforts to clamp down on illegal trading in the futures and precious metals market.
JPMorgan will pay $436.4 million in fines, $311.7 million in restitution and more than $172 million in disgorgement, the Commodity Futures Trading Commission (CFTC) said on Tuesday, the biggest-ever settlement imposed by the derivatives regulator.
JPMORGAN WILL MOVE $230 BILLION IN ASSETS TO GERMANY AHEAD OF BREXIT
Between 2008 and 2016, JPMorgan engaged in
AABB – Asia Metals Inc. Signs Letter of Intent To Acquire New Mineral Property In Prolific Mining Region of Mexico
LAS VEGAS, Sept. 29, 2020 /PRNewswire/ — Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., today announced that it has signed a Letter of Intent (LOI) to acquire a high potential mineral property in the state of Colima, Mexico. The property is located in a prolific iron-copper-gold production area approximately 25 kms east of the Pena Colorada mine in Minatitlan, Mexico. Advantageously located with direct access to main Highway #3, the property also has a natural water supply. The land parcel is located at 19°18'47.3″N 103°53'49.9″W and consists of 100 hectares. Strategically viewed as a diversification acquisition, the Colima property is situated in a region where AABB has a comparative advantage of development resources and expertise readily available to rapidly develop the project. The Company is conducting its final stages of due diligence in preparation to complete the property acquisition agreement.
Is the massive sell-off in precious metals an aberration?
There is a massive sell-off in the precious metals market from the beginning of this week. Silver is the worst hit having lost close to a fifth in value in just four days to trade below $22 an ounce. Gold is facing an embarrassing setback falling to a two month low of $1,850/oz.
Platinum and palladium, too, have not been spared with the former down by $100 and the latter by $200 an ounce this week. These are unusual times for the precious metals complex as not much seems to have changed in the overall environment of risk and ultra-expansive monetary policy. It is argued that there is forced selling by investors in order to generate liquidity.
A significant driver of price performance is the appreciation of the US dollar. Experts are actually divided on the reasons for a surge in the dollar despite uncertainties surrounding the US economy. Multiple
Almaden Announces Court Decision in respect of Environmental Permit Application for the Ixtaca Precious Metals Project, Mexico
VANCOUVER, British Columbia, Sept. 09, 2020 (GLOBE NEWSWIRE) — Almaden Minerals Ltd. ("Almaden" or "the Company"; TSX: AMM; NYSE American: AAU) is pleased to report that the second district court in Puebla (the "Court") has issued a decision in respect of the "incident" filed by Almaden's Mexican subsidiary on February 4 of this year.
As reported previously by the Company (see press release of February 27, 2020), Almaden's subsidiary filed this "incident" to challenge an October, 2019 decision by Mexico's environmental authority ("SEMARNAT") to suspend its review of the Ixtaca project's environmental permit application ("MIA") until resolution of legal proceedings (the "Amparo") regarding certain of the Company's mineral concessions which encompass the area of the Ixtaca project. In April 2019, a lower court ruling in the Amparo found Mexico's mineral title system unconstitutional. That ruling has been appealed by each of the Mexican Congress, Senate,
Canada's Wheaton Precious Metals plans London listing amid surge in gold prices
A visitor touches a 220kg gold bar at Jinguashi Gold Ecological Park, Taiwan. Photo: Pichi Chuang/Reuters
Canada's Wheaton Precious Metals (WPM) has announced plans to list on the London Stock Exchange (LSE.L) as demand for precious metals from investors has been surging amid turbulence in equity markets of late.
Wheaton, one of the world's largest companies involved in buying gold and silver, has a market capitalisation of about $23bn (£17.6bn), and is listed in Toronto and New York. On those indices, its shares have risen more than 70% this year.
Gold prices have risen this year by roughly 28% and hit a record high of above $2,000 an ounce in August. Silver has also been gaining, up 50% to $27 an ounce.
The precious metal's value has been up this year amid investor fears in the equities market. Chart: Yahoo Finance
"News that Canada's Wheaton Precious Metals is looking to
Central Asia Metals: Tailings Leak Is A Small Blip In A Resilient First Half
Central Asia Metals' robust interim results were slightly dampened due to a tailings leak at its Sasa mine. Shares did finish up 2% following the results but had fallen 20% on the news of the leak a few days prior. I am bullish on CAML, the results show a company that can deliver good cash generation and manages its debt pile well. These are two factors that I believe are crucial to creating a healthy balance sheet and to position the company for growth. There are concerns regarding the Sasa leak but I believe the subsequent fall is an overreaction.
Source: sharecast.com
The company's Sasa mine showed growth in both production and sales over the first half. Zinc production jumped to 12,200 tonnes from 11,500. While lead production jumped to 15,100 tonnes from 14,300. These production rates show a steady increase in production at the Sasa mine. Copper
Precious Metals Continue To Consolidate- Diversified Exposure Via GLTR (NYSEARCA:GLTR)
Gold, platinum, and silver prices rose to their most recent highs in early August. Palladium hit its recent peak in late July. Since them, the prices of the four leading precious metals that trade on the COMEX and NYMEX divisions of the Chicago Mercantile Exchange have been consolidating.
Bull markets rarely move in a straight line. Palladium has been in a bullish trend since early 2016. Gold broke out to the upside in June 2019 when the yellow metal broke above its July 2016 peak at just below $1380 per ounce. Silver waited until July 2020 to break above its critical technical resistance level at over $21.10 per ounce. Platinum continues to lag the other precious metals, but it has displayed signs of strength over the past months.
Price consolidations can be healthy for markets as they regroup and build the power for another move to the upside. All of