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Near-Term Resource Outlook Remains Positive

Given recent headlines and speculation with respect to commodity prices, I thought it worthwhile to outline my views on the near-term picture. Overall, I remain very optimistic with respect to metals prices.

Remember, we’ve seen strong gains right across the board in the commodity space over the course of this year, making some sort of consolidation inevitable. Prices almost universally had run too far, too fast. Nevertheless, I see the latest pull-back as a consolidation, rather than the beginning of a more dramatic decline. I’ve attached a link on the right of screen to an interview I gave to Bloomberg TV in Hong Kong recently.

What’s also interesting is that whilst some commodities have been consolidating, other more obscure metals like vanadium, tungsten and various rare earths like neodymium, have joined the price party. The common denominator amongst these metals is that they are predominantly produced in China and they have all been hit hard by Beijing’s recent environmental crackdown. Chinese premier Li Keqiang pledged at the annual National People’s Congress in March to make “our skies blue again”.

In my view, this is symptomatic of a more general supply-side problem spreading across the entire global industrial metals spectrum, which ultimately will help support commodity prices.

S&P Australian ASX

Small Resources Index

Source: Investing.com, 6 Oct 2017

With over 800 listed resource companies on the ASX, there are more investment opportunities available than most investors realise.

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20-Year Gold Price

Performance (AUD/oz)

Source: goldprice.org, 6 Oct 2017

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Strong Performers

Pilbara Minerals (ASX:PLS)
**Up 349% since initial coverage in Sept 2015

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(ASX: WAF) **Up 313% since initial coverage in Sept 2015

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**Up 133% since initial coverage in

June 2016

(**Gains as at 6 October 2017)

Gavin Wendt   

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