Weak Manufacturing Data and Slow Vaccination Rates to Delay Economic Recovery

 

Our pick last week, Lucid Group Inc. (NASDAQ: LCID), went from US$24.07 on Monday, to a high of US$28.21 on Wednesday (up 17%).

The top performer, Southern Silver Exploration (TSXV: SSV), was up 10.3%, as it increased its ownership in the Cerro Las Minitas silver project to 100%.

We continue to expect a correction in both equity markets and base metal prices, amid weakness in manufacturing activities (see charts below), and slow vaccination rates in developed economies

Natural gas prices in Europe have surged in the past few weeks, amid supply shortages, primarily from Russia. We believe the supply crunch will worsen when demand for natural gas increases during winter.

Companies Mentioned:

Southern Silver Exploration Corp., UEX Corporation, GoviEx Uranium Inc., Azincourt Energy Corp., Blue Lagoon Resources, Chatham Rock Phosphate, Colibri Resource, MGX Minerals Inc., Nexus Gold Corp., South Star Battery Mining Corp., Vertical Exploration Inc., Apple Inc., Kiaro Holdings Corp., Trillion Energy International Inc., Hello Pal International Inc., Banxa Holdings Inc. ,TAAT Global Alternatives Inc., Kontrol Energy Corp., THC BioMed Intl Ltd.