Dampening the Impact of Financial Shocks

By Damiano Sandri inks at IMF under the heading of Dampening the Impact of Global Financial Shocks on Emerging Market Economies! The ink says, the Covid-19pandemic is impacting emerging markets through an unprecedented combination of domestic and external shocks.

Among the latter, the pandemic has led to a sharp increase in global risk aversion and an abrupt retrenchment in foreign capital flows. Based on historical experience, these types of global financial shocks can significantly affect macroeconomic conditions in emerging markets, even if the exchange rate is flexible.

Velocity bags positive drill at Sedefche Gold

Velocity Minerals announces that it has received results from 33 additional drill holes for the Sedefche gold project, Bulgaria.  This large batch of drill results continues to broadly confirm the grade and tenor of historical results.

The near-surface Sedefche gold project has previously been advanced through a successful permitting process and is permitted for near-term production.  As part of project due diligence, Velocity has drilled 5,756m to date, including 3,897m in 2020.  Drilling has paused pending receipt of results from an additional 23 drill holes. 

Opal mining continues as usual in Australia!

By Terry Coldham, ICA Ambassador-Australia reports, the Covid 19 pandemic has had a varied effect on the Australian coloured gemstone industry. Over the last three months the government has introduced quite severe lock down conditions. Not only are the international borders closed, but they’ve also closed state borders. Travel has been greatly restricted, and this has of course affected the jewellery and gemstone industry.

Several annual gemstone trade shows have been cancelled, including the Coober Pedy, Winton and Gold Coast opal shows, along with Gemfest, a large gem show on the Queensland sapphire fields. A decision on the Lightning Ridge Opal Festival will be made within the next few weeks.

Breakthrough scientific study on coral

Breakthrough scientific study on precious coral identification

Leads to new DNA coral fingerprinting service by SSEF

A breakthrough study entitled “DNA fingerprinting: an effective tool for taxonomic identification of precious corals in jewelry,” authored by researchers from the Swiss Gemmological Institute SSEF and the University of Zurich’s Institute of Forensic Medicine (IRM) and recently published in the leading peer-reviewed journal Scientific Reports (Nature Group), has led to a new service being offered by SSEF to aid in the traceability of precious coral jewellery.

It is the first major scientific study that details a methodology using minute amounts of DNA recovered from precious coral used in jewellery to identify their species. This is vital given that a number of precious coral species are listed on the Convention on International Trade in Endangered Species (CITES) Appendix III, and thus need to be correctly identified and declared in order to be legally traded.

US Mint to sale Basketball Hall of Fame coins

Products in the United States Mint (Mint) 2020 Basketball Hall of Fame Commemorative Coin Program will go on sale June 4 at noon Eastern Daylight Time (EDT). Available options and pricing are below.

Pricing for the $5 gold coins is based on the Mint’s “Pricing of Numismatic Gold, Commemorative Gold, and Platinum Products” table at catalog.usmint.gov/coins/gold-coins/. Introductory prices are in effect until July 6, 2020, at 3 p.m. EDT, after which regular pricing will take effect. The above household order limits will be in effect for the first 24 hours of sales.

CCI invites public comments!

The Competition Commission of India (CCI) has been looking at non-compete restrictions stipulated in mergers and acquisitions while reviewing combinations. Notifying parties are required to furnish information on non-compete restrictions for the purpose of its examination.

The Guidance Note provides that 3 years of non-compete obligation is usually justified in case of transfer of goodwill and know-how and two years in case of transfer of goodwill alone. It further provides that the scope of non-compete shall be restricted to the business sold and the territory where it was conducted.

Role for Sally announced as DeBeers Director PR

New position to focus on media, trade and designer outreach for natural diamonds, with a particular focus on the US market!

De Beers Group today announced that Sally Morrison has joined the Group’s Consumer and Brands division as Director of PR – Natural Diamonds. In her new role, which will be based in New York, Sally will focus on media, trade and designer outreach for natural diamonds, with a particular focus on the US market.

Platinum demand down by 38% in Q1

Platinum Quarterly considers platinum supply and demand developments for the first quarter of 2020 and provides an updated outlook for 2020. The Platinum Quarterly report and data is prepared independently for WPIC by Metals Focus. “We also provide WPIC’s views on issues and trends relevant to investors considering exposure to platinum as an investment asset, plus an update on how our product partnerships continue to meet investors’ needs” said WPIC.

The impacts of the Covid-19 pandemic on global economies and markets continue to unfold. These impacts on the platinum market in 2020 are expected to reduce both demand and supply, but – due to dynamics peculiar to platinum and unrelated to the pandemic-the overall negative effects are far less than might be expected.

On three principles Central bank guiding!

WGC published, ‘Gold and central bank reserve management during the Covid-19 pandemic’ report says, Central bank reserves are typically constructed according to three guiding principles: safety, liquidity and return. The Covid-19 pandemic has reinforced the significance of these principles and, by extension, the importance of smart and sustainable reserve management.

But, in order to deliver effectively against this mandate, central bank reserve managers need to understand how different assets perform during stress periods. Only in this way, can they develop portfolios that are robust and resilient in the face of market stress, while aligning with the three core principles of reserve management.

Yamana Silver production of 2,730,851 Oz in 1Q

Yamana Gold is reporting its financial and operational results for the first quarter of 2020. The Company posted strong quarterly production and free cash flow while further reducing net debt. The Company has updated its 2020 guidance a separate announcement relating to which will follow. Strong Net Earnings and Cash Flow, Further Reduction in Net Debt, Net earnings of $45.0 million or $0.05 per share basic and diluted compared to a net loss of $4.1 million or nil per share basic and diluted a year earlier.

Adjusted net earnings of $47.2 million or $0.05 per share basic and diluted compared to adjusted net earnings of $24.0 million or $0.03 per share basic and diluted a year earlier, strong quarterly cash flows from operating activities of $129.4 million, and cash flow from operating activities before net change in working capital of $164.6 million.