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Silver Price Trend Analysis and Forecast for 2019
Bitcoin Outlook 2019: Clarity Awaits
While 2018 was certainly not the year bitcoin enthusiasts were hoping it would be, there is potential 2019 will see a turnaround, although perhaps not in ways one might expect.
Pricing, of course, remains a constant factor when it comes to digital currencies, but next year will begin to see more certainty from government bodies which will give the space the legitimacy it has been craving.
Here, the Investing News Network (INN) takes a look at what’s in store for top digital currency bitcoin and the crypto space in general with insight from industry experts.
Bitcoin outlook 2019: quest for clarity
As noted in our bitcoin trends 2018 article, challenges from regulatory bodies remains at the forefront in the industry, although transparency is coming.
Case in point, the Group of 20 (G20) and the US Securities and Exchange Commission (SEC) both made headlines in 2018 with ways they plan to provide certainty—in one way or another—for bitcoin and other cryptocurrencies.
G20 nations met several times over the course of the year for clarification on anti-money laundering (AML) standards for crytpo assets in addition to asking for standards on how to regulate cryptocurrencies. Meanwhile, the SEC noted in November that cryptocurrencies like bitcoin and ethereum are tokens rather than securities.
So, what does this mean for next year? More certainty and clarity, of course.
“I think regulations are going to continue to be moved forward,” Anthony Di Iorio, CEO and founder of Decentral and Jaxx and co-founder of ethereum, told INN. “I think there is clarity coming out and regulatory bodies are expecting companies and projects to adapt.”
Di Iorio explained that companies will need to follow rules implemented by regulatory bodies while trying to balance the technology “with the forces of pressures” put in place by regulators to stay within the “traditional guidelines.”
While regulations are certainly vital when new technologies like cryptocurrencies present themselves, Di Iorio said how far the extent regulations will go to “make sense” of this technology is a concern he has moving into 2019.
“These new technologies … are not meant to be regulated and it’s a technology that is open, free, that people can use,” he said. “It will be impossible in the future to try to regulate certain technologies as privacy technologies improve.”
Bitcoin outlook 2019: concerns and challenges
While getting clarity in the bitcoin and cryptocurrency space is certainly crucial, other concerns still plague the industry in the race for legitimacy.
In terms of concerns, Eric Ervin, CEO of Blockforce Capital, told INN that interests rates are something to watch for as we head into the new year.
“We want to watch the fed and make sure that they’re not raising interest rates too much and stopping the economy in its tracks,” Ervin said.
Frank Holmes, CEO of US Global Investors (NASDAQ:GROW), told INN that in his own meetings with regulators, anti-money laundering (AML) remains a concern, and exampled hackers getting paid in bitcoins and showing up in exchange trade funds listed on exchanges in Toronto or New York.
“Until [AML standards are] perfected, the virgin [bitcoins] are the best source,” Holmes said, adding that only ‘virgin coins” going into a North American ETF would relieve many AML concerns.
Meanwhle Brian Kelly, founder and CEO of BKCM, told INN that what the cryptocurrency space needs is adoption and how it’s going to be used.
“To me … the biggest challenge that we have over the next year or two is to have people in the US and more developed markets understand why bitcoin is important and then secondarily why cryptocurrencies are important to the Web 3.0 story,” he said.
Bitcoin outlook 2019: the revolution continues
As bitcoin and cryptocurrencies await further clairty from regulatory agencies—and in the same vein resolutions to some of the challanges—one thing is certain: the technology itself is here to stay.
“The building and the disruption and the technology is just going to continue,” Ervin said, comparing this new industry’s growth to the dotcom boom in the late 90s and early 00s. Ervin said that while stocks in that era didn’t recover fast, looking back it was more about the innovation and how the Internet changed people’s lives that made a difference, which he said he believes will happen in the crypto space.
Di Iorio echoed similar sentiments and said the future is about getting the public to undestand how this technology will be more important than what happened with the Internet revolution.
“[The technology] will create a lot more change and industries that the internet couldn’t change, and it’s going to impact every part of their lives,” Di Iorio said. “It’s not necessarily about where the market will go, but more about where the technology is heading.”
Bitcoin outlook 2019: investor takeaway
While it is easy to get caught up in pricing concerns that weighs down bitcoin and other cryptocurrencies, what we have learned from industry experts is that the space is just more than just about the price per token on a day-to-day basis.
Clarity is certainly coming for the industry, and the rise of institutional investors entering the space in 2018 is also providing more legitimacy.
The debate about what kind of impact regulations will have in the space always exists, but 2019 will begin to see how more involvement of regulatory bodies will play out, for better or for worse.
Still, it’s been said time and time again how this technology will disrupt our daily lives; now it’s no longer a question of whether or not it will, but when, and 2019 will start seeing those pieces come into place.
So, hold tight, bitcoin and cryptocurrency enthusiasts validation of the space is coming.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
The post Bitcoin Outlook 2019: Clarity Awaits appeared first on Investing News Network.
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Political Theater Goes into Overdrive as US Government Shutdown Looms
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Rare Earths Outlook 2019: EV Production to Drive Demand
Of the 17 rare earth elements (REEs), some have proven rarer than others. Neodymium and praseodymium (NdPr), two metals instrumental to the rapidly expanding green energy and electric vehicle (EV) sectors, saw the greatest demand and price movement in 2018.
Demand for the metals, which are used to make high-strength magnets for wind turbines and EV engines, is expected to grow as more EVs are manufactured and as clean-energy strategies are adopted.
Increased demand has understandably raised interest in these metals, creating a number of significant developments in 2018. Those include a boost in production and exploration, output halts, REE recycling, potential tariffs and political tensions.
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At the end of 2017, there was speculation that NdPr prices would spike due to their ever-growing list of applications. However, 2018 didn’t bring the price increase that was projected.
“The global rare earth industry is recovering from an extended period of falling prices,” said Roskill Deputy Manager Nils Backeberg. “Prices bottomed out in 2016, and 2017 saw rare earth prices recover.”
“But the prices for magnet materials in 2018 have been less bullish than the market expected, partly due to magnet producers extending the available stocks of neodymium where possible.”
Rare earths trends 2018: Cuts, tariffs and taxes
2018 started steady for the sector. By March, Tesla’s (NASDAQ:TSLA) plan to switch to a magnetic motor that uses neodymium perked prices ahead of an expected incremental increase in demand.
“The price of neodymium oxide was expected to follow a steady uptick over 2018, which continued until the end of the first quarter, but the price has declined back to end-2017 levels, down 5 percent year-to-date to approximately US$ 45 per kilogram as of end-November 2018,” pointed out Backeberg.
By mid-year, concerns of supply disruptions began to materialize as China, the world’s largest producer of REEs, set up environmental protocols around the REE industry and crackdowns on illegal production.
“Chinese control of the rare earths industry remains strong, with around 80 percent of production originating from Chinese-based operations in 2018,” said Backeberg.
China wasn’t the only REE producer that had a bumpy year. Lynas (ASX:LYC), one of the largest rare earths companies outside of China, has encountered a variety of issues at its facilities in Malaysia.
Most recently, shares of Lynas fell by 33 percent when the Malaysian government imposed new environmental regulations on the company ahead of its license renewal next year.
But while some producers faced struggles, other REE companies were able to emerge. “With the growing demand for rare earth magnet materials, 2018 saw two new producers enter the supply chain, namely Rainbow Rare Earths (LSE:RBW) and Northern Minerals (ASX:NTU),” added Backeberg.
“This has, however, not diversified the geography of the rare earths industry, as China has captured most of the downstream processing and magnet manufacturing capacity.”
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That said, non-Asian REE companies are hoping that geopolitical uncertainty and the illegalities still evident in China will drive customers to their supply.
For Australia-based Northern Minerals, 2018 was an important year as Chinese disruptions gave way to opportunity.
“We expected that there would be continuing crackdowns in the illegal Chinese rare earth sector that would curtail production and result in strengthening in pricing due to lower production,” explained CEO George Bauk. “While there are reports of curtailed production, this has not translated into higher prices.”
Despite REE prices not gaining the anticipated traction, the company was still able to hit milestones.
As Bauk pointed out, “Northern Minerals spent 2018 focused on bringing its flagship Browns Range heavy rare earths project to market. We produced first rare earth carbonate in October and expect our first shipment to leave before the end of 2018.”
In addition to the Asian supply woes the REE market faced in 2018, the US also made news in the sector when the idea of adding rare earths to a list of heavily taxed and tariffed critical metals was floated.
The inclusion, which ultimately did not come to pass, would have forced the US to seek out REE suppliers other than China, despite the Asian nation being the largest producer of the in-demand metals.
Chinese control has created concern beyond the US administration, especially when late in the year the country announced it may reduce supply to meet only its own needs.
“In 2018 and for the future, the most challenging aspect of the rare earth market is the uncertainty caused by China’s control over the majority of mining, processing and downstream aspects of the rare earth supply chain,” said Donald Bubar, president and CEO of Avalon Advanced Materials (TSX:AVL).
Bubar, whose company has various projects, thought the REE story for 2018 would be more about applications and less about precarious supply.
“Towards the end of 2017 we expected the euphoria which had led to forecasted increases in demand for lithium, cobalt, graphite and other metals related to the growth of EVs to have the same impact on rare earths during 2018,” said Bubar.
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Rare earths outlook 2019: Electrifying the environment
The REE market will need to find innovative ways to build supply as more automotive makers switch from traditional gas-centric vehicles to EVs.
As Avalon’s Bubar said, the sector is facing three questions.
“The big question mark for automakers outside China is: where will they get the rare earths (specifically [neodymium, praseodymium and dysprosium]) they will need to build the EVs they have promised to the world? The second big question is: what will China’s supply policy be for rare earths in 2019?” he said. “The third question is: how will US-China trade issues affect the rare earth market?”
Similar to other metals used in batteries, REEs are seen as deserving of the spotlight due to their many current and potential applications.
“Getting investor attention to the requirement of magnet metals in EVs,” is one thing Medallion Resources (TSXV:MDL) CEO and Director Don Lay sees as being beneficial to the sector.
“If EVs are a generational investment opportunity, as many think, then NdPr (the magnet metals) have a big role to play,” he explained. “The business media picked up on this, but not the investment world.”
One development that will increase global supply is the REE recycling sector, which made strides in 2018.
Quebec’s GeoMegA Resources (TSXV:GMA) is one company that is committed to end-of-life magnet recycling. The Investing News Network caught up with CEO Kiril Mugerman earlier this year, and he explained the process involved in breaking down old magnets.
When asked what the most challenging aspect of the sector was this year, Mugerman responded, “lack of price increase was the most difficult aspect of the REE market in 2018. To attract investors to the sector we need a price increase, which so far is missing.”
However, he remains optimistic that there is nowhere to go but up from here.
“We think REE prices have hit bottom, which makes end users very happy as they can expand applications and demand grows,” he noted.
Mugerman continued, “we expect growth in demand for magnets and rare earths in general. Will it translate into [a] price increase is still hard to say, but we think we are not far from seeing a tighter supply and demand situation, which will translate into a price increase for [neodymium, praseodymium, dysprosium and terbium].”
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Rare earths outlook 2019: The year ahead
There is a lot of positive speculation that 2019 will be the year for REEs to shine.
“The demand outlook for rare earths is very positive, with the electrification of transport systems being a government-driven agenda globally, but this will take another year or two before it translates to a serious surge in demand,” said John Mair, managing director at Greenland Minerals (ASX:GGG).
“As a result, prices have not really moved much throughout 2018, but through 2019/2020 we should see prices strengthen as fundamental demand starts to surge. Supply remains tight globally, and bringing on new supply does not happen quickly.”
Mair expects 2019 to be a catalyst year for a rapidly evolving sector.
“I see 2019 being more positive for the resources sector as a whole, and the rare earth sector is one of the few areas that is really well positioned to surge positively owing to a strong demand outlook and constrained supply,” he said.
This perspective was reinforced by Commerce Resources (TSXV:CCE) CEO and Director Chris Grove.
“I expect that 2019 will be seen as the turnaround year where it will be finally clear to everyone that the demand for REEs is only going to increase, and this is against ever-tightening global supply,” said Grove. “This should be an exponentially better market for the projects that can be processed using standard processing techniques, such as our Ashram REE deposit.”
Advancement of the company’s Ashram project in Northern Quebec has been a win for the explorer.
“[T]he most important milestone for our company was the successful work done at the University of Laval producing a mixed REE oxide concentrate with an optimized flow sheet for our Ashram REE deposit, financed by a grant from the Quebec government. The share price was not affected significantly though,” added Grove.
For fellow Quebec-based REE developer GeoMegA, 2018 was also eventful. “First we produced magnet-quality 99.5-percent neodymium oxide, then we produced the same purity dysprosium oxide,” pointed out Mugerman. “Then we obtained validation from an end user that this material was good for making magnets, and finally we built our 20L unit which is a 10x increase from the previous scale.”
Canadian REE developer Medallion was also able to significantly advance its project.
“The most important milestone was completing our last set of metallurgical tests with a North American feedstock supplier, producing a concentrate sample and delivering it to Rare Earth Salts, our refining partner — thereby demonstrating a complete North American rare earth value chain,” said Lay.
For Australia-focused companies, 2018 was also marked with achievements. Northern Minerals officially opened the Browns Range heavy rare earth project in the East Kimberley region of Western Australia.
Meanwhile, Greenland Minerals worked to advance its Kvanefjeld project. “We made some very positive strides with project optimization that should see some significant reductions in both capital and operating costs in 2019, and that should see the Kvanefjeld project positioned as a dominant future producer at the bottom of the cost curve,” explained Mair.
Figure: Proportion consumption of rare earths lanthanum through dysprosium. Source: Roskill.
Roskill’s Backeberg also sees 2019 as an influential year for the sector, especially if EVs are able to grow the market significantly.
In fact, if EV and hybrid EV growth hits the 20-percent-per-year growth mark forecast by Roskill, there will be a simultaneous 5-percent-per-year uptick in demand for REEs.
“The key growth area for the rare earths industry is the use of permanent magnets in the drivetrains of EVs,” said Backeberg.
“Motors using rare earth permanent magnets, predominantly NdFeB magnets, exhibit greater efficiencies and are less demanding on the batteries than competing technologies whilst providing the same performance. Each EV uses roughly 1 to 3 kilograms of RE permanent magnets, of which ~33 percent is contained rare earth oxides.”
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Medallion Resources is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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Coinbase Improves and Adds Crypto-to-Crypto Trading
Coinbase is now new and improved—watch out Binance! The US’s most popular cryptocurrency exchange announced yesterday it has added crypto-to-crypto trading.
Coinbase Crypto-to-Crypto Trading
Starting today, you can convert one crypto to another on Coinbase. Conversions are available between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX), or Bitcoin Cash (BCH).
It's Day 8 of 12 Days of Coinbase. Learn more: https://t.co/VshJf7FOMZ pic.twitter.com/wLyJPfkKcA
— Coinbase (@coinbase) December 17, 2018
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Cobalt Outlook 2019: Will Prices Continue to Fall?
This time last year, cobalt, a key element in lithium-ion batteries, was expected to have a strong year ahead.
But in 2018 the battery metal price struggled, pressured by increased supply from the DRC and market volatility.
With 2018 drawing to a close, the Investing News Network reached out to cobalt experts to get more insight about the future of the metal. Read on to learn what analysts expect in terms of the cobalt outlook next year, from supply and demand to potential price catalysts.
Cobalt outlook 2019: Price performance review
Without doubt, analysts agree that the main key trend the cobalt market experienced in 2018 was declining prices.
“There were some exceptions to the rule, but from the end of Q1 and throughout 2018, we’ve seen prices decreasing and continue to fall,” Benchmark Mineral Intelligence Analyst Caspar Rawles said.
According to Rawles, there are a number of reasons why prices trended downwards during the past months. Some include the increase in the price basis of raw material feedstocks from the Democratic Republic of Congo (DRC) going into China, issues around credit availability and cash flowing in China as a result, as well as macroeconomic factors that led to negative sentiment.
At the end of last year, Rawles had expected the market to correct, but he said he was still somewhat surprised by how much of a correction actually happened, particularly in the cobalt chemical industry in China.
Chart via Benchmark Mineral Intelligence
Meanwhile, at the time, Roskill had stated that it expected prices to remain above a floor level of around US$ 35 per pound over the period to 2022.
“It appears that US$ 33 per pound is a more accurate floor price based on current operating conditions,” Jack Bedder, director at Roskill said.
Fastmarkets Head of Research William Adams also mentioned declining prices as a key trend in 2018.
“We only started forecasting cobalt prices in May and our first forecast was for weaker prices, which we have seen,” he said.
Speaking about trends in 2018, Rawles said that one of the biggest challenges in the cobalt sector this year has been that buying hydroxide from the DRC and refining it to chemicals in China has not been economic, as there has been little to no margin in it.
“[That] really caused a problem in the middle part of the supply chain, which was really challenging and was taking a big hit this year, which has had an impact on the supply negotiations going into the next year and even the deals that were already struck had to change to allow small businesses to continue,” he added.
For his part, Bedder said price and payable trends were interesting this past year, as intermediates and chemicals are oversupplied with lots of recent expansion in the DRC and China respectively.
“This has helped push prices down. The metal market is much tighter (especially for certain forms), but there has been more production and destocking in China than was expected in H2 this year,” he added.
Last year, demand for intermediates, set against relatively tight supply, meant that intermediates producers were receiving very high payables.
“With new supply hitting the market in 2018 and more capacity expected to be brought online in 2019 and beyond, tightness in intermediates has softened and payables fell. Lower hydroxide payables make for lower sulfate production costs and thus discounts against the metal price,” Bedder said.
The DRC continued to take centre stage in 2018, with plenty of news coming from the country where most cobalt is mined. Concerns surrounding its new mining code, which raises taxes and royalties for cobalt to 10 percent, as well as responsible sourcing of the metal and the impact of artisanal mining were all topics of discussion in the cobalt space.
One of the biggest news in the cobalt sector this year was the recently announced export sales halt at Katanga’s (TSX:KAT) Kamoto mine.
“As production isn’t affected (just sales) and because there is enough supply of hydroxide at present, it’s not a major issue. But it does serve to highlight how future supply of cobalt feedstock is dependent on the ramp-up of a handful of DRC projects,” Bedder said.
Similarly, Rawles said that at the moment the KCC situation is not really going to have an impact on the supply chain, “but as we get into the second half of 2019 I think that possibly might start to show, but that is yet to be seen.”
Another factor that hit the market in 2018 was the subsidy changes in China, which acted as a disruption that hit demand for EV and batteries and led to destocking, which were negative for cobalt demand, Adams said.
“But longer-term the subsidies are a positive for cobalt demand as the subsidies favor cars with bigger drive-ranges and that will mean using lithium-ion batteries with nickel, cobalt and manganese chemistries, rather than the first generation EV batteries that did not have cobalt in them,” he added.
Cobalt outlook 2019: Supply and demand
In 2019, Fastmarkets’ Adams expects the market to move into a supply surplus as Katanga and ERG ramp-up production.
Despite forecasting Q1 to be slow given Chinese Lunar New Year holidays and as NEV sales tend to be concentrated in the final third of the year, Adams said Q2 is expected to be tight on the back of supply disruptions from Katanga and from other producers restraint due to low prices.
“We expect artisanal supply to drop as well as scrap supply. All the time, however, we expect strong demand — it is just that the supply response in 2018/2019 will be overwhelming,” he added.
All in all, Fastmarkets expects supply to increase by around 15,000 tonnes in 2019.
Adams explained there may be a shortage in the Q1 or Q2, if Katanga continues to halt exports, but much will depend on whether consumers come in to restock.
“ERG is also ramping up so that will provide extra supply and we expect other smaller Chinese owned mines in the DRC to start producing and Panoramic’s (ASX:PAN) Savannah mine in Australia is expected to restart output in Q2’19,” he said.
Adams also added scrap supply is expected to slow as prices are now less attractive and low prices may lead to less artisanal supply too.
For Rawles, there’s enough hydroxide around right now, assuming as well that some of the expansions that are planned continue as planned.
“Demand will continue to grow, consumption of lithium-ion batteries is going to grow, but as of right now there’s enough cobalt around to meet the needs of the market,” he added.
Speaking about demand, Fastmarkets Adams said he is very bullish on cobalt demand as the move to NCM battery chemistries and need for EVs with greater drive ranges means bigger batteries and more batteries with cobalt in them, than the first generation EV batteries that did not use cobalt.
“We expect strong demand growth in 2019 as the EV sales see organic growth, as more EV models are available and as Chinese subsidies push for more BEVs rather than PHEVs,” Adams added.
Further down the road, “it will take a lot of the smaller operations to come on stream in a timely manner to ensure supply keeps up with demand. It is very hard for upstream supply to continuingly grow when demand is set to growth exponentially for a long period of time,” Adams added.
Another important discussion in the market that is set to continue in 2019 has been the ongoing talks about decreasing cobalt content in batteries after Tesla (NASDAQ:TSLA) announced it was looking to reduce cobalt to almost nothing in its batteries.
“Since the start of the year we’ve noticed in the conversations we’ve been having in the industry less of a push to move to that kind of a holy grail NCM 811 formulation,” said Rawles, adding that there were a number of reasons behind that.
“The key one is cobalt is nowhere near the levels it was at the start of the year,” he said, but also some of the factors around pricing in the lithium market have helped that push become less important, as prices for lithium hydroxide, needed in the 811 formulation, has been more expensive than lithium carbonate during part of the year.
In addition, engineering issues that have been a key factor in cathode selection have not been resolved, but even though “right now there’s less of a push for 811, we think it will ultimately happen in the future,” Rawles said.
Similarly, Roskill expects shifts in cathode chemistries to impact cobalt demand — but for now, the growth trend is still strong and demand growth will continue at this impressive rate until around 2025.
“While NCM 811 is being introduced, most of the models currently being sold are still using NCM 523, with some use of NCM 622. The shift to higher-nickel NCM is coming, but it won’t happen overnight, said Bedder, adding that Roskill expects the cobalt market to break the 200,000-tonne mark by 2024.
Cobalt outlook 2019: Key factors to watch
Looking ahead, Roskill expects prices to remain strong in 2019 underpinned by strong demand growth across all major end uses.
Meanwhile, Fastmarkets forecasts an average price of US$ 28 for 2019 with the first half above the US$ 30 level but then dropping towards US$ 25 in the second half.
“The intermediate prices have suffered more than the metal price, as a lot of the new material being produced is intermediate material rather than metal,” Adams said.
Meanwhile, Benchmark’s Rawles expects the market to go through quite a tough period going through the start of 2019, with prices set to continue to fall.
“But at what rate? It is still open for debate, as there are a lot of question marks around certain parts of the industry. I think we will see a bigger proportion of producers putting their material on the spot market, which might have a negative impact on prices as well,” Rawles added.
One of the issues the cobalt market has had this year has been the disparity between prices of cobalt metal against what’s been happening in the chemical market, particularly in China, the expert added.
“As the battery industry grows, that problem will only become more apparent because everyone looks at the metal price but even now the cobalt chemical market is far bigger than the cobalt metal market,” Rawles pointed out adding that the prices in those markets are going to start to play a major role than the metal prices.
For Bedder, a key factor to watch next year is the development of new capacity.
“This includes metal and chemical capacity (mainly in China) and mine projects (most of the big ones are in the DRC),” he said.
Meanwhile, Fastmarkets’ Adams said investors should keep an eye on further supply disruptions prompted by low prices, and the rate of EV sales growth.
“If growth accelerates at a faster pace then there is more chance that battery manufacturers will feel the need to restock which could lift apparent demand even more than actual demand,” he added.
Adams added that investors should keep an eye out for companies which are well-placed in the industry cost curve, are well financed and well managed.
“[Those companies] will be in a good position to perform strongly in the medium term against our predictions for growing cobalt demand,” he said.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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The Coming Financial Storm
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Has Tether Told the Truth All Along? Bank Statements Say 1 For 1
According to Bloomberg, cryptocurrency stablecoin Tether (USDT) has enough fiat dollars to back its tokens in circulation. No doubt, many readers will scorn that this is just another rumor as Tether is synonymous with controversy.
What’s going on?
Tether has Fiat Dollars
The original stablecoin has faced a myriad of controversy since the middle of this year when investors began questioning the validity of its purported 1 for 1 token value.
A stablecoin works by having enough fiat reserves to equal the number of tokens issued. This means that 1 Tether would …
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Tilray to Collaborate with Pharma Leader Sandoz
In another step of major industries stepping into the cannabis space, generic pharmaceutical company Sandoz AG will now collaborate with Canadian licensed producer (LP) Tilray (NASDAQ:TLRY) for medical cannabis products.
On Tuesday (December 18), the LP confirmed a new “global framework agreement” with the life science company.
“Sandoz AG will be a valuable partner as we work together to improve access to the highest quality medical cannabis products in countries all over the world,” Brendan Kennedy, CEO of Tilray said.
Tilray had already formed a relationship with the pharmaceutical world in March when the cannabis venture announced an exclusive collaboration with Sandoz Canada, an affiliate of Sandoz International GmbH.
This is the next step between Tilray and the Canadian division of Sandoz, which itself is part of the Novartis AG (NYSE:NVS) group.
As part of the collaboration, the two companies could work together to commercialize non-smokable medical cannabis products. Sandoz AG may also participate in co-branding these products.
Through the deal, Sandoz AG can obtain medical cannabis products or access to Tilray’s license rights and may participate in the development of new products.
“Both companies may also partner to leverage best-in-class knowledge to educate pharmacists and physicians about medical cannabis products,” Tilray added.
Shares of Tilray shot up 16.10 percent on Tuesday’s trading session, while during after hours trading the company was up just over one percent. Tilray closed at a price of US$ 76.50 per share.
The pharmaceutical industry has been at the forefront of predicted markets set to want partnerships in the cannabis space due to the medical aspect.
Dena Jalbert, founder and CEO of Align Business Advisory Services, previously told the Investing News Network (INN) she expects more deals where a larger player steps into cannabis to be based on intellectual property (IP) rather than a full buyout.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
The post Tilray to Collaborate with Pharma Leader Sandoz appeared first on Investing News Network.
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3 Public Companies Get Entry to New Jersey Cannabis Market
New Jersey has elected six new companies to potentially operate in its medical cannabis market, including 3 publicly traded ventures.
On Monday (December 17), the New Jersey Department of Health (DOH) confirmed six new selections for companies to apply for permits in order to open medical marijuana shops.
Among the winners were public US multi-state operators Green Thumb Industries (CSE:GTII), MPX Bioceutical (CSE:MPX) and TerrAscend (CSE:TER).
Health Commissioner Dr. Shereef Elnahal said the DOH will meet with the six applicants “early next year” to hash out the specifics of growing product and when stores would be opening in the given region.
Officials assigned each company to a specific region in the state. The DOH confirmed some applicants requested more than one region but the agency is assigning only one region per applicant.
Commissioner @ShereefElnahal shares some exciting news!
Six new businesses have been selected to apply for permits to open new #medicalmarijuana dispensaries in New Jersey.
More: https://t.co/vqvPdeNRGy pic.twitter.com/3HSCgDTUVX
— NJDOH (@NJDeptofHealth) December 17, 2018
Matthew Johnson, TerrAscend’s president, said in a statement to shareholders thanks to the approval the company will be able to move forward with the build out of secured locations in the state.
TerrAscend earned an entrance to the state’s marijuana market thanks to its majority owned subsidiary NETA NJ, which earned a license for the northern town of Phillipsburg.
“Expansion in New Jersey is firmly in line with the company’s strategic goals of increasing its footprint in limited license markets and distributing brands at scale,” GTI founder and CEO Ben Kovler said.
GTI earned its license for the Patterson community in the state.
After confirmation of its licenses Beth Stavola, chief operating officer and president of US operations for MPX, told The Press of Atlantic City the company’s application obtained the highest score from all 146 submitted applicants.
Stavola joined the board of trustees for the New Jersey Cannabis Industry Association (NJCIA) at the start of 2018 and will be moving to iAnthus Capital Holdings (CSE:IAN) as part of a merger between the two companies.
Fellow US multi-state operator iAnthus will acquire the existing US assets from MPX in a confirmed deal.
According to the DOH, New Jersey counts for approximately 38,000 active medical cannabis patients.
The state is also looking to add recreational products to its market as lawmakers moved forward with a legalization adjustment to the law in November, which could open the market as early as January.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
The post 3 Public Companies Get Entry to New Jersey Cannabis Market appeared first on Investing News Network.
Spencer Bogart: Bitcoin Price Can Go Lower or Higher, Either Way It’s a Good Asset
As we wrap up 2018, crypto players are starting to publicly come out with their Bitcoin price forecasts for the new year. Some are bearish, using the fact that BTC was nearing $ 20 thousand this time last year. Others, however, continue to be bullish. Spencer Bogart of Bitcoin Capital is one of the latter.
Spencer Bogart Remains Bullish of Bitcoin Price
In a recent interview with CNBC, when asked whether he believes BTC will hit $ 50,000, Spencer Bogart said yes, but maybe not as soon as bulls are forecasting.
“Absolutely it can go that …
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Will Powell Turn Into Dove and Make Gold Shine?
Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63799.html
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Gold Rush II: Exploration and Mining in the Yukon
The Klondike Gold Rush helped to define a region, and a second Yukon gold rush is only just beginning to inspire further exploration and mining in the Yukon.
The remote Northwestern Canadian territory of the Yukon is known to people the world over largely due to the events that took place between 1896 and 1899. The Klondike Gold Rush brought tens of thousands of people to the previously barely known region and those four short years created numerous stories of adventure and riches that today live on as legend and define the remote territory.
Over the century since, the Yukon’s mining industry has continued to be the primary source of economic development in the region, as it features a wealth of resources matched by few other places on earth. Today, the Yukon is in the midst of what has been described as a second gold rush, driven by high precious metal values and the discovery of yet another ‘once in a generation’ gold trend. A wave of nearly $ 1 billion in Yukon mining investment since 2010 has signified the rush. The Yukon’s 21st century gold rush probably won’t be the stuff of romanticised legend like its predecessor, but for resource exploration companies in the area, it’s no less exciting.
This INNspired Article is brought to you by:
Generic Gold Corp. (CSE:GGC) is a junior exploration company that owns multiple, well-positioned properties in the Tintina Gold Belt in the Yukon, Canada.Send me an Investor Kit
Exploration and mining in the Yukon
The Yukon remains one of the world’s prime destinations for gold exploration and development. Despite the long history of exploration, the territory still has much more to offer. The gold mining that has traditionally been carried out in the Yukon has been from placer deposits associated with the territory’s rivers and gravel beds with over 20 million ounces of gold mined from the territory’s gravels to date. The Yukon’s bedrock, however, remains largely unexploited. Recent gold discoveries and development in the region like Goldcorp’s (TSX:G,NYSE:GG) Coffee project and Victoria Gold’s (TSXV:VIT) Eagle projects are testaments to the metal endowment that remains in the area. Besides gold, the Yukon is host to around 2,700 known mineral occurrences with established reserves of copper, iron, silver, tungsten, zinc and lead.
The Yukon Territory is one of the best mining jurisdictions in Canada thanks to more than just its resource wealth. Canada in general is well regarded as one of the safest countries for mining, both politically and financially. The Yukon territorial government is highly supportive of mining activity, providing government funding initiatives and a transparent, expedient and an industry-friendly early-stage permitting process.
Like most of Canada, the Yukon hosts the traditional territories of several indigenous First Nations groups. Unlike many of Canada’s other provinces and territories, however, most of the Yukon’s First Nations’ land claims have been settled, making permitting and consultation with these groups straightforward compared to other Canadian mining jurisdictions.
The remote region’s relative lack of infrastructure and development has been a downside in the past, but in September 2017, the Yukon government announced a major road network expansion that will make exploration in the White Gold District — the epicentre of the Yukon’s modern gold rush — significantly less expensive.
The Yukon gold rushes: 1896 to today
In the summer of 1896, Tagish First Nation prospector Skookum Jim Mason, along with his sister, American brother-in-law, and nephew stumbled upon gold in a creek south of the Klondike River. The next day, they staked the first claim of the Klondike Gold Rush. As news of the discovery spread, prospectors from throughout the region abandoned their claims and relocated their efforts to the Klondike hoping for similar luck. A few massive gold discoveries were made in the area by other prospectors throughout the fall and winter, and by the spring of 1897, word had reached the outside world. Tens of thousands headed to the Yukon over the next three year. Of these prospectors only about 4,000 ever struck gold, even fewer actually became rich and hundreds died in the harsh wilderness.
The estimated total value of gold found over those four years works out to about $ 29 million in today’s currency. While the massive stampede of hopefuls disappeared as quickly as it began by 1900, the lasting economic legacy was the development of mining infrastructure and industry in the Yukon, which continues to this day.
The Yukon’s second gold rush is just kicking off, and this time the activity is being carried out by a vastly more sophisticated mining industry. Famed gold prospector Shawn Ryan discovered the White Gold deposit within the Yukon portion of the Tintina Gold Belt in 2001. The deposit features some of the highest-grade gold ever discovered in the Yukon. Rising precious metal values in recent years have sparked a rush of both major and junior exploration companies to the district aided with modern exploration production methods that those 1897 prospectors could never have dreamed of.
Major investments
Since 2016, mining majors have invested more than $ 600 million into the Yukon. The modern day rush began in earnest in 2016 with an ongoing series of major moves and acquisitions. In 2016, Goldcorp bought up Kaminak Gold (TSXV:KAM) for $ 520 million, including its Coffee gold project, as well as 19.9 percent of Independence Gold. Later that year, Agnico Eagle Mines (TSX:AEM) invested $ 14.5 million for 19 percent of White Gold (TSXV:WGO,OTC–Nasdaq Intl:WHGOF,FWB:29W). In 2017, Newmont Mining (NYSE:NEM) entered into a $ 53 million earn-in agreement in Goldstrike Resources’ (TSXV:GSR) Plateau project. Goldcorp made yet another move into the Yukon in 2017 with a $ 6.2 million investment for 19.9 percent of Triumph Gold (TSXV:TIG) and the company’s Freegold Mountain project. Barrick Gold (TSX:ABX,NYSE:ABX) signed a property earn-in and strategic investment deal with ATAC worth as much as $ 63 million in Spring 2017.
Hot on the majors’ heels, junior mining firms have been getting in the the Yukon’s modern gold rush as well. These junior projects are often located nearby and contiguous with the projects of the majors in the area. Generic Gold (CSE:GGC), for instance, owns three properties in the White Gold area, totalling 39,829 hectares of Yukon land. The company’s VIP project is located near Goldcorp’s Coffee Gold deposits, which feature proven and probable reserves of 2.16 million ounces of gold, an indicated resource of 780,000 ounces and an inferred resource of 1.15 million ounces. Generic’s Goodman project is nearby and contiguous with Victoria Gold’s Eagle deposit, which has reported 3.6 million ounces of gold measured and indicated and 276,000 ounces inferred. Generic’s Livingstone property produced gold before the original Klondike Gold Rush, in the form of more than 50,000 ounces of coarse gold nuggets. Recent prospecting results indicate more gold still from this property’s bedrock. Other junior mining firms in the Yukon with projects near major deposits include Alexco Resource (TSX:AXR) and Western Copper & Gold (TSX:WRN).
Takeaway
The Yukon’s legendary gold mining history is headed for a new era as some of the world’s largest gold mining players as well as ambitious juniors rush for property along the territory’s richest trends. There’s gold in them hills, and the new gold rush has just begun.
This INNspired article is sponsored by Generic Gold (CSE:GGC). This article was written according to INN editorial standards to educate investors.
The post Gold Rush II: Exploration and Mining in the Yukon appeared first on Investing News Network.
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