Silver (Ag) is half store of value and half industrial metal. A hawkish Federal Reserve and spiking bond yields will create significant headwinds for the Ag price 2H22E. Any expectations for global recession, leading to an industrial cycle downturn will also push the silver price down. In 2H22E we assess that both weakening industrial activity (>50% of global silver demand) and monetary policy trends will exert downward pressure on silver’s price. Beyond YE22E the physical silver supply deficit remains a positive for the silver price. As the world transitions to greener forms of energy and transport, the commensurate increasing use of silver in electronics and photovoltaics should support structural demand growth and so raise silver’s mid-term price beyond YE22E because of the structural silver supply deficit.
Fresnillo is a holding company, engaged in the mining and beneficiation of non-ferrous minerals, and the sale of related production. At Dec 31 2016, Co. had six reportable operating segments: the Fresnillo mine, an underground silver mine; the Saucito mine, an underground silver mine; the CiA(c)nega mine, an underground gold mine; including the San RamA3n satellite mine; the Herradura mine, a surface gold mine; the Soledad-Dipolos mine, a surface gold mine; and the Noche Buena mine, a surface gold mine. In addition, Co. has two development projects, which comprised of: Pyrites Plant, a Leaching plant; and San Julian (phase II), an underground mine, flotation plant and a dynamic leaching plant.
Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.
KGHM Polska Miedz is engaged in the mining of copper and non-ferrous metals ore; the excavation of gravel and sand; the production of copper, precious and non-ferrous metals; the production of salt; the casting of light and non-ferrous metals; the forging, pressing, stamping and roll forming of metal- powder metallurgy; waste management; wholesale based on direct payments or contracts; warehousing and storage of merchandise; holding management activities; geological and exploratory activities; general construction activities with respect to mining and production facilities; scheduled and non-scheduled air transport; telecommunication and IT services; and other activities.
Polymetal International is the ultimate parent entity of Polymetal Group, a precious metals mining group operating in Russia, Kazakhstan and Armenia. Co. has five reportable segments: Magadan; Ural; Khabarovsk; Kazakhstan; and Armenia. Each segment is engaged in gold, silver or copper mining and related activities, including exploration, extraction, processing and reclamation.
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HEADLINES: • Gradus: finger lickin' good, but not at this price (SELL - transfer of coverage) • Turkey macro: CBRT likely heading for single-digit rates • Colt CZ Group SE: 2Q22 earnings and conference call POSITIVE • Shoper: results call takeaways - management sees room for profitability improvement POSITIVE • Polymetal: 1H22 financial results - no dividends, RU assets disposal complicated NEGATIVE • Nuclearelectrica: shareholders approve strategy for implementation of NuScale SMRs Project NEUTRAL • Kruk: managers sell shares to raise funds to pay for shares in another round of management ...
Polymetal International plc (POLY) Polymetal: Offer to exchange certain shares currently affected by the EU asset freeze on NSD and Notice of General Meeting 22-Sep-2022 / 09:01 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Release time IMMEDIATE LSE, MOEX, AIX: POLY ADR: AUCOY Date 22 September 2022 Polymetal International plc Offer to exchange certain shares cur...
Polymetal International plc (POLY) Polymetal: Half-year report for the six month ended 30 June 2022 22-Sep-2022 / 09:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Release time IMMEDIATE LSE, MOEX, AIX: POLY ADR: AUCOY Date 22 September 2022 Polymetal International plc Half-year report for the six month ended 30 June 2022 “Polymetal continued to maintain ope...
Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) is a renewable energy and critical metals company. Kibo Energy Shares on the JSE (KBO) traded at a median 90.13% premium over the last 12 months vs. the same shares on AiM under the KIBO.L ticker. KBO shares in the hands of South African sophisticated high net worth and institutional investors have risen 66.7% between 8 Jun 2021 and 31 Aug 2022. There is little to no true retail market in South Africa. WAN shares in issue 31 Dec 2021 2.48bn, shares in issue today 3.04bn, a delta of 22.5%. KBO:JSE shares traded at approximately NAV over the las...
Kibo Energy Plc (KIBO.L: AIM) is a portfolio company with a renewable energy and critical metals transition strategy. Today’s 1H21A results describe Kibo heading in the right direction operationally, which in our assessment is a tribute to its new strategy and execution. Inevitable hold ups in such a meaningful transition meant that Kibo missed our YE21E numbers. However, management is addressing these issues with e.g. Pieter Krugel’s appointment as CEO of MAST.L (stake raised to 61.27%). 1H22A highlights include the Framework agreement with Enerox (CellCube) to deliver LDES solutions, the 51%...
Drug discovery and development requires colossal upfront investment. The process typically takes over a decade. A large number of product candidates fail to prove efficacy or safety during preclinical and clinical research phases or fail to pass regulatory scrutiny. According to Deloitte, the average cost of drug discovery and development increased over 80% between 2010 and 2018 from $1.188bn to $2.168bn, CAGR 7.8%, per successfully launched drug.
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