Uraniumore

HAYWOOD’S HERITAGE MOMENT: CANADIAN URANIUM - Postwar, uranium exploration gathered pace when the ban on private prospecting was lifted in 1947. Deposits around the Bancroft, Ontario area were discovered by the early 1950s, and the first discovery in Ontario's East Lake region was in 1953. Source: World Nuclear Association

China Interest Rate Cut Sends Mining Equities/Commodities Higher

Mining equities and commodities were on Friday after China cut its interest rate for the first time in over two years, and European Central Bank (ECB) President Mario Draghi reiterated the banks readiness to expand its stimulus program. The cut in interest rates in China was unexpected, but comes after PMI figures showing manufacturing is getting close to contraction (see macroeconomic news, page 2). This move comes after Chinese President Xi Jinping recently downplayed concerns over the Chinese economy, stating the government could manage the dangers. The interest rate was cut 40 basis points to 5.6%. Meanwhile, the ECB’s readiness to expand its stimulus program underlines Draghi’s view that inflation needs to meet the ECB’s target “without delay”. While the ECB chief has hinted in the past that the central bank could increase the scope and size of its asset purchases—possibly to include government bonds—some analysts said his warnings about low inflation have been getting firmer. In response, gold and silver rose 1% and 0.67% to $1,200 and $16.49 per ounce respectively. Base metals also rose before a retracement late Friday afternoon saw copper, nickel, zinc and lead finish at US$3.08, US$7.52, US$1.04 and US$0.93 per tonne respectively. Iron ore continued its decline during the week, with the iron ore (62% Fe CFR China) price finishing at US$69.75 per tonne, while uranium price reached US$43.81 per pound before falling 12% to $43.38 per pound on Friday.

 weeklydigimageNov21

Click here for the full report.

Important Information and Legal Disclaimers
All prices are in C$ unless noted

Content provided by Haywood Securities Inc.

This report is neither a solicitation for the purchase of securities nor an offer of securities. Our ratings are intended only for clients of Haywood Securities Inc., and those of its wholly owned subsidiaries, Haywood Securities (USA) Inc. and such clients are cautioned to consult the respective firm prior to purchasing or selling any security recommended or views contained in this report.

Estimates and projections contained herein, whether or not our own, are based on assumptions that we believe to be reasonable. The information presented, while obtained from sources we believe reliable, is checked but not guaranteed against errors or omissions. Changes in the rates of exchange between currencies may cause the value of your investment to fluctuate. Past performance should not be seen as an indication of future performance. The investments to which this report relates can fluctuate in value and accordingly you are not certain to make a profit on any investment: you could make a loss.

Haywood Securities, or certain of its affiliated companies, may from time to time receive a portion of commissions or other fees derived from the trading or financings conducted by other affiliated companies in the covered security. Haywood analysts are salaried employees who may receive a performance bonus that may be derived, in part, from corporate finance income.

Haywood Securities, Inc., and Haywood Securities (USA) Inc. do have officers in common however, none of those common officers affect or control the ratings given a specific issuer or which issuer will be the subject of Research coverage. In addition, the firm does maintain and enforce written policies and procedures reasonably designed to prevent influence on the activities of affiliated analysts.

Dissemination of Research

Research reports are disseminated either through electronic medium or in printed copy. Clients may access reports on our website, or receive publications directly via email. Haywood strives to ensure all clients receive research in a timely manner and at the same time. It is against our policy for analysts to discuss or circulate their recommendations internally prior to public distribution. This policy applies equally to recommendation changes, target changes and/or forecast revisions.

For Canadian residents: Haywood Securities Inc. is a Canadian registered broker-dealer and a member of the Investment Industry Regulatory Organization of Canada, the Toronto Stock Exchange, the Toronto Venture Exchange and the Canadian Investor Protection Fund and accepts responsibility for the dissemination of this report. Any Canadian client that wishes further information on any securities discussed in this report should contact a qualified salesperson of Haywood Securities Inc.

For U.S. residents: This investment research is distributed in the United States, as third party research by Haywood Securities (USA) Inc. Haywood Securities (USA) Inc. is a wholly owned subsidiary of Haywood Securities Inc., registered with the U.S. Securities and Exchange Commission, and is a member of FINRA and the Securities Investor Protection Corporation (SIPC). Haywood Securities (USA) Inc. as a U.S. registered broker-dealer accepts responsibility for this Research Report and its dissemination in the United States. Any U.S. client that wishes further information on any securities discussed in this report or wish to effect a transaction in these securities should contact a qualified salesperson of Haywood Securities (USA) Inc. Haywood Securities Inc. Research Analysts are considered Foreign Research Analysts to the USA and are not registered/qualified as Research Analysts with FINRA. As these analysts are considered Foreign Research Analysts they may not be specifically subject to FINRA (formerly NASD) Rule 2711 and FINRA (formerly NYSE) Rule 472 restrictions on communications with a Subject Company, Public Appearances and trading securities held by a Research Analyst Account.

This report may be distributed in the following states: nil. Otherwise, this report may only be distributed into those states with an institutional buyer state securities registration exemption.

Analyst Certification

We, Kerry Smith, Stefan Ioannou, Tara Hassan, Geordie Mark, Mick Carew, Colin Healey and Ben Asuncion, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures

Of the companies included in the report the following Important Disclosures apply:
· n/a
Other material conflict of interest of the research analyst of which the research analyst or member knows or has reason to know at the time of publication or at the time of public appearance:
· n/a

Absent the use of encryption, E-mail is not a secure medium and privacy cannot be ensured. Email is vulnerable to interception and forging. Haywood Securities Inc., its subsidiary Haywood Securities (USA) Inc. and their employees cannot ensure the privacy and authenticity of any information or instructions you send to us by E-mail. All E-mail communication is subject to delay and may from time to time be undeliverable due to technical problems. WE RECOMMEND YOU DO NOT SEND CONFIDENTIAL INFORMATION OR INSTRUCTIONS such as orders to buy or sell a security and money or security transfer requests by E-mail. Haywood Securities Inc., its subsidiary Haywood Securities (USA) Inc. and their employees will not be responsible for verification of any instructions received by E-mail or for any damages you may incur if you communicate confidential information or instructions to us by E-mail. Haywood Securities (USA) Inc. is a member of the Securities Investor Protection Corporation, as well as the Financial Industry Regulator Authority. The firm’s place of business is Suite 700 – 200 Burrard Street, Vancouver, BC, V6C 3L6, phone (604) 697-7400, facsimile (604) 697-7481.

Please click here to unsubscribe from all future email communication from Haywood Securities Inc. We will respect all unsubscribe requests . Please allow 5 business days to process your request. If you have any questions, please contact us at Haywood Securities Inc. (Head Office), 200 Burrard Street, Suite 700, Vancouver, BC, V6C 3L6. Tel: 604-697-7100 or Toll: 1-800-663-9499.

[Uranium ore source]