- #Watch london has fallen free update
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- #Watch london has fallen free mac
Labrador Iron Ore Royalty Corp was the worst-performing Large-Tier this month for the second month in a row, down 17.4% (↓11.9% 3-months), after Rio Tinto released its quarterly operational report for the first quarter ending March 31, 2022, which included Iron Ore Company of Canada (IOC) production and sales information.ĭuring Q1 2022, IOC had total iron ore sales in the first quarter of 2022 of 3.43 million tonnes, comprised of 2.41 million tonnes of pellets and 1.02 million tonnes of CFS. An average rate of 58 Mwmt per annum was achieved in the March 2022 quarter.
#Watch london has fallen free full
South Flank’s ramp-up to a stated annual full production capacity of an additional 80 Mwmt, on a 100% basis, over three years remains unchanged.
#Watch london has fallen free mac
The current demonstrated annual capacity level is set at 59Mdmtĭuring the March 2022 quarter, MAC achieved production of 29.3 million wet metric tonnes (Mwmt) (100% basis), this represents a 9% increase compared to the prior quarter.
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Large-Tiersĭeterra Royalties Limited was the best performing Large-Tier, down 0.6% on the previous month, following BHP’s (ASX: BHP) quarterly operational review.ĭeterra has an ongoing quarterly royalty payment of 1.232% of Australian denominated revenue from the MAC Royalty Area and a series of one-off payments of AUD$1 million per million dry tonne increase in the annual production level from the MAC Royalty Area during any 12-month period ending 30 June, above the previous highest annual production level. This was slightly above the previous guidance range of 50,000 to 55,000 GEOs, due to the timing of shipments.
#Watch london has fallen free update
Royal Gold also gave an update on its Q1 2022 results, with 56,500 GEOs sold, comprised of approximately 41,600 gold ounces, 489,200 silver ounces and 1,600 tonnes of copper, during the three-month period ended March 31, 2022. But it’s worth noting that 2021 was an exceptional year for Royal Gold, with the three highest quarterly GEO volumes in the company’s history, due to strong performance from several key assets across the portfolio, and this was unlikely to be repeated in the following year. Royal Gold was down 7.8% on the month (↑28.3% 3-months).ĭuring the month, the company announced its guidance for the calendar year ended December 31, 2022, with total gold equivalent ounces (GEOs) of 315,000 to 340,000, which was lower than 2021’s actual performance, which appears to have disappointed investors. (TSX:RGL) was the worst-performing Major during April after being the best performing Major for the fourth month in a row. Franco will publish its first-quarter (Q1) 2022 results this week and it will be interesting to see how the stock reacts if the update is positive. Majorsįranco-Nevada Corporation (TSX:FNV) was the best performing Major this month after being the worst performer last month, down 5.7% (↑13.7% 3-months) despite no news flow.
These events combined with low bond prices and higher bond yields are starting to make equities look less attractive.
The reason behind these falls is likely to result from the perfect storm of events during April with concerns around the US Federal Reserve’s pace of monetary tightening to counter the highest inflation in decades, combined with the ongoing war in Ukraine and a Covid-19 outbreak in China both of which threaten to further increase commodity prices. Since the start of the year, the S&P 500 has fallen 13%, which is its worst start to a year since 1939. It’s important to point out that this isn’t a royalty sector focused event, as the wider market has also been affected with the S&P 500 down 8.8% and the Dow industrials down 5% in April, the worst monthly performance for the indices since March 2020. The Juniors were down 4.7% on average, Majors were down 6.8%, and the Large-Tiers down 10.2%.
Following two successive months of sustained gains, April was a different beast as the mining royalty sector entered a free-fall, with the average share price down 5.2%, the biggest negative movement in the sector since October 2020.ĭuring April-22 over 84% of mining royalty and streaming companies experienced negative share price movements, in what was an absolutely disastrous month for investors in the sector.Īll subsets of the sector showed negative price movements, the least-worst subset was the Mid-Tiers, which was down 0.7% on average.
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