Renergen flicks the switch

Good Morning Voornaam,

After such a long wait (and MANY updates along the way that put some serious wear and tear on the SENS system), Renergen is finally a producer. Stefano Marani has flicked The Big Switch at the Virginia Gas Project and everything appears to still be in one piece. The share price closed 4% higher in appreciation of this news.

Junior mining is boiling over with action at the moment. In addition to the Renergen news, we saw updates yesterday from Europa Metals, Jubilee Metals and Southern Palladium. After the tech experts were the cool kids for the last few years, geologists are enjoying their time in the sun.

I wrote recently about Master Drilling, which is about as close to the "shovel in the gold rush" as you can get. In Magic Markets Premium this week, Mohammed Nalla and I will be covering Caterpillar, another way to play the mining theme alo ng with other drivers like infrastructure. The yellow goods manufacturer is a Toddler Ghost favourite, as he is obsessed with diggers.

Your only goal in life should be to find someone who looks at you the way he looks at his toy construction vehicles. When we spot the real thing in the wild, the excitement is unbeatable.

Of course, Caterpillar's investment case is a bit more complicated than that. Magic Markets Premium is a wonderful way to see the concept of "Do Your Own Research" in action, as we release a new podcast and report every week that works through the investment case, financial results and technical trading indicators of global stocks. For either R99/month or R990/year, you can make the best investment possible - an investment in yourself! Subscribe to Magic Markets Premium at this link.

For the updates on the junior miners as well as a flurry of news from FMCG companies (RCL Foods, AVI Limited and CA Sales Holdings), be sure to read Ghost Bites this morning.

Daily market wrap with TreasuryONE

The rand reached its worst level this year against the dollar, touching R17.42. It made it back to the R17.20 level but this joy may be short-lived, as the US was out of the market yesterday due to Labour Day celebrations. When they return to their desks today, a shift in momentum could be the order of the day.

This is a critical week for the euro, as TreasuryONE expects the ECB to hike rates quite aggressively. The market is lo oking for 75 basis points, which could give some support to the euro. Energy procurement is a crisis in the eurozone, so hiking rates in an already slowing economy with high inflation could quickly bring about a recession.

Oil was up 4% yesterday as OPEC countries mulled over another oil supply cut. Russia also threatened to shut Nordstream 1 unless sanctions against the country are lifted. The energy market has tough times ahead and this volatility will echo through different markets.

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Good luck in the markets today!