Key News Overnight:
The House pushed toward impeaching Donald Trump amid Republican protests and efforts to delay the proceedings. The chamber passed a procedural measure allowing for six hours of debate with only two Democratic defections, an indication of how voting on the articles of impeachment will fare.
The Trump impeachment proceedings have not yet had any material impact on the market as the chance that the vote will pass through the Republican controlled senate is slim. Hence, despite what’s clearly chaos in the US political system, for better or worse, financial markets remain shielded, maybe ironically, from the consequences of the impeachment trial by the hyper-partisanship in US Congress.
Oil closed with little change at Wall Street after the U.S. reported a surprise draw in crude inventories. Gold traded flat, palladium dropped and platinum rose. Base metals were mixed, with copper snapping a two-day rally.
Iron ore will average $63 a ton in 2020 as a pickup in supply eases a global crunch, the Australian government said. While that’s up slightly from a September forecast, it represents a 21% slump from this year’s average.
In This Issue:
Atrum Coal (ATU) | Expanded Elan South Scoping Study update | SPEC BUY | Analyst | Matthew Keane
Clean TeQ (CLQ) | Collaboration agreement with Panasonic Corp. on Scandium | Not covered | No rating
Genesis Minerals (GMD) | Resource update at Ulysses | SPEC BUY | Analyst | James Wilson
Exore Resources (ERX) | Maiden RC drilling at Veronique| SPEC BUY | Analyst | James Wilson
Recent Research:
Northern Star Resources Ltd (NST) | Bellevue Gold (BGL) | Salt Lake Potash (SO4) | Perenti (PRN) | State Gas (GAS) | Orthocell (OCC) | West Africa – Elephant country can be dangerous | Decmil (DCG)
Please read Argonaut’s Important Disclaimers & disclosures
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