As the stockmarkets in the US are printing all-time highs again, not really urging the Federal Reserve to lower rates anytime soon it seems as inflation remains well above target, Kenorland Minerals (KLD.V)(3WQO.FSE) announced the final drill results for Regnault, part of their flagship Frotet Project in Quebec.
Ice drilling at Regnault target, Frotet project, Quebec
At a time where markets are weighing Federal Reserve comments about being hawkish towards rate cuts as inflation remains persistent, two major conflicts deepen (Russia-Ukraine) or seem to spread out (Israel-Hamas), the BRICS expand with new members, and recession fears are looming large in the background, gold remains trading above US$2,000/oz.
Platinex Inc (PTX:CSE)(9PX:FRA) had to manoeuvre carefully on their fully permitted flagship W2 copper-nickel-PGE project, a district scale land area in Northern Ontario, but finally managed to acquire the two missing pieces of the puzzle in the centre of their claim package.
Introduction
After spending almost 1.5 years assembling and permitting several significant projects in Ontario, junior explorer Platinex Inc (PTX:CSE)(9PX:FRA) commenced reconnaissance exploration work in August at their gold and lithium projects, with assays for the lithium project called Muskrat Dam being expected around in January 2024.
In a time where a surprise attack of Hamas rocked Israel and pretty much the rest of the world, Israel reacted by bombing Palestina back to the stone age it seems, the Russia invasion continues and the Fed seems to be hinting at one other rate hike before year end, metals following the world economy like copper are trading somewhat subdued.
Ice drilling at Regnault target, Frotet project, Quebec
After experiencing the last rate hike by the Federal Reserve in July, it seems more and more likely that the world economy is heading into a soft landing, with inflation continuing to go down.
With Robert Friedland presenting the thesis about copper as an upcoming “train wreck” waiting to happen, with the price of the red metal potentially tenfolding in the coming years, it seems we have another mining titan on our hand using hyperboles in order to support their own interests, in this case Ivanhoe Mines.
After raising C$2.7M in March and closing the South Timmins JV with Fancamp, Platinex (PTX:CSE)(9PX:FRA) has been busy doing reconnaissance exploration and further developing of exploration plans for their Shining Tree, Heenan and Mallard gold projects located in the Abitibi region, and near well-known assets like Coté (IAMGold/Sumitomo) and Juby (Aris Gold).
It took a while, but Avrupa Minerals (TSXV:AVU)(OTC:AVPMF) and JV partner Sandfire MATSA finally intercepted a substantial mineralized interval at Sesmarias, after the discovery hole from 2014 intersected 7.95m @ 2.21% Cu, 4.82% Zn, 3.05% Pb and 89.8g/t Ag from 150m.
Ice drilling at Regnault target, Frotet project, Quebec
With a recession looming large in the US but continuously delayed, the Fed unsure whether to hike one last time or to pause, the debt ceiling bill passed through the Senate, and inflation going down, there are a lot of mixed signals to take into account for the stock markets.