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Collective Mining Stock Up 7.02% After Announcing Significant Discovery at Its San Antonio Project

This morning, Collective Mining (TSXV:CNL) has announced that is has made a significant grassroot discovery at the Pound target within the San Antonio…

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This article was originally published by Mining Feed
Plan View of the San Antonio Project and the Pound Target. Source: Collective Mining

This morning, Collective Mining (TSXV:CNL) has announced that is has made a significant grassroot discovery at the Pound target within the San Antonio project. This comes right on the heels of the recent discovery at the Donut target at its Guayabales property. 

One of three targets generated at the San Antonio project, reported assay results are from the recently completed Phase 1 reconnaissance drill program which tested two of these targets. 

Ari Sussman, Executive Chairman of Collective Mining commented in a press release: “The wide and continuous zones of mineralization intersected from surface at Pound are exciting and suggest we are either peripheral to or above a very large porphyry system. It is extremely pleasing that we have made brand new significant discoveries with the initial drill holes into grass root generated targets at both our Guayabales and San Antonio projects. With funding in place through 2022, the Company will become aggressive in the short-term with follow up drilling on our new discoveries and testing newly generated targets across the project portfolio.”

 

Highlights (Tables and Figures 1 to 5)

  • Continuous gold (“Au”), silver (“Ag”) and base metal (copper and molybdenum) mineralization has been intersected from surface, over the full core lengths of two reconnaissance diamond drill holes at Pound as follows:
    • 710 metres at 0.53 g/t gold equivalent from surface including 133 metres at 0.92 g/t gold equivalent from 470 metre depth (SAC-8); and
    • 750 metres at 0.41 g/t gold equivalent from surface including 187 metres at 0.59 g/t gold equivalent from 60 metre depth (SAC-6).
  • Importantly, both drill holes ended in mineralization with copper and molybdenum grades increasing at depth including:
    • 70 metres at 0.12% copper and 89 ppm molybdenum from 681 metre depth (SAC-6); and
    • 133 metres at 0.15% copper and 27 ppm molybdenum from 470 metre depth (SAC-8).
  • Pound mineralization is related to hydrothermal breccia and highly altered, quartz diorite intrusive which have been overprinted by late stage, polymetallic veins. Pound is located within a NE-SW trending corridor, as defined by mineralized breccia and altered intrusive, which is open in all directions and has been mapped to date over a strike length of approximately 1.3 kilometres.

     

  • The alteration system associated with Pound (advanced Argillic litho-cap) is related to the upper and peripheral portions of a porphyry system. The Company is currently reviewing its options for follow up exploration which would include initiating a Phase II diamond drill program and a high-resolution and deep penetrating IP survey as has recently and successfully been undertaken at the Guayabales project.

Table 1 Initial Diamond Drilling Results at the Pound Target

Hole ID From

(m)

To

(m)

Intercept

Interval

(m)**

Au

(g/t)

Ag (g/t) Zn

(ppm)

Pb

(ppm)

Cu % Mo % AuEq

(g/t)*

SAC-6 0 750 750 0.32 6 454 303 0.02 0.001 0.41
Incl. 60 247 187 0.50 9 274 63 0.00 0.000 0.59
And 681 750 70 0.41 2 79 11 0.12 0.009 0.65
SAC-8 0 710 710 0.40 6 352 130 0.04 0.001 0.53
Incl. 4 156 152 0.50 11 281 65 0.01 0.000 0.62
And 470 603 133 0.61 6 504 307 0.15 0.003 0.92

* AuEq (g/t) = (Au (g/t) x 0.95) + (Ag g/t x 0.013 x 0.90) + (Cu (%) x 1.83 x 0.92) + (Mo (%) x 4.57 x 0.92), utilizing metal prices of Cu – US$4.00/lb, Mo – US$10.00/lb, Ag – $20/oz and Au – US$1,500/oz and recovery rates of 95% for Au, 90% for Ag, 92% for Cu and Mo.

** a 0.1 g/t AuEq cut-off grade was employed with no more than 10% internal dilution. True widths are unknown and grades are uncut.

Geological Details of the San Antonio Project

The San Antonio (“SA”) Project is located in the Middle Cauca Gold Belt (“MCB”), 80 km south of Medellin and 50 km north of Manizales, Department of Caldas, Colombia. The MCB has been the most prolific belt for Miocene aged, porphyry and epithermal vein discoveries within Colombia and multi-million ounce discoveries in recent years include Buriticá, La Colosa, Nueves Chaquiro and Marmato.

The SA covers an area of 3,853 hectares and hosts multiple quartz diorite, diorite intrusive and breccia bodies of Miocene age which intrude basement schists and younger volcano-sedimentary packages.

Three specific grassroots exploration targets have been outlined by surface mapping, sampling, soil geochemistry, geophysical modelling, and shallow scout drilling. These are referred to as the Dollar, COP and Pound targets.

The Pound target is located in the northern portion of the project, is defined by multiple hydrothermal breccia bodies hosted within highly altered diorite and quartz diorite intrusive and overprinted by late stage, polymetallic veins. This zone of altered intrusive and breccia bodies trends NE-SW and has been mapped for a strike length of plus 1.3 kilometres. The zone is still open to the NE and SW. Outcrop exposures on the southern border of this target area include epithermal vein systems within a preserved lithocap of advanced argillic alteration which is superimposed on hydrothermal breccia bodies which grades laterally and downwards into intermediate argillic alteration assemblages. These rocks are interpreted to reflect preservation of the shallow levels of the porphyry system. The initial two reconnaissance diamond drill holes, SAC-6 and SAC-8, were drilled to respective downhole depths of 750 metres and 710 metres and intersected various hydrothermal breccia (pyrite matrix), altered quartz diorite intrusive and late-stage polymetallic veins. All the rock units have been hydrothermally altered with an earlier sericitic event overprinted by a strong, advanced argillic phase with various aluminosilicates. At depth, various diorite phases display disseminations and aggregates of chalcopyrite and molybdenite in contact with large blocks of metamorphic schist. The target remains open in all directions and further work is envisaged and will commence with a deep penetrating, high-resolution, induced polarization survey down to minimum depths of 900m below surface followed by a Phase II expanded diamond drilling program. Exploration targets include the mineralized breccia and a porphyry system postulated to occur below the lithocap.

The COP target is located 800 metres south of Pound and is defined by highly anomalous molybdenum (8 ppm to 108 ppm) and gold (up to 2.74 g/t) in soils in association with altered diorite porphyry and quartz veinlets over an area of 650 metres x 350 metres. The surface expression of the COP target is coincident with geophysical anomalies, at 200-300 metres depth which include a positive magnetic anomaly and IP chargeability and resistivity highs. COP has not been tested, other than a single historical borehole drilled just south of the target area, returned an intercept of 99 metres at 0.42 g/t gold and 4.9 g/t silver within unmineralized country rocks partially intruded by mineralized porphyry quartz veins at a depth of 608 meter downhole. The mineralization encountered in the drill-hole is interpreted to be leakage from the COP target directly to the north.

The Dollar target is located 400 metres south of COP. At surface various outcrop of quartz diorite porphyry host stockwork and sheeted quartz-magnetite vein systems associated with disseminated pyrite covering a 500-metre radius. Shallow scout drilling (6 holes) to cover the target area, identified the main mineralized porphyry. Holes SAC-1 to SAC-5 and SAC-9 returned gold intercepts of 0.1 to 0.3 g/t over various angled intercepts of 100 metres to 600 metres length within or across the various outcrops of the mineralized stockwork system. Based on the shallow intercepts a deeper hole was drilled into the mineralized stockwork and returned the intercepts outlined in Table 2 below. Gold, copper and molybdenum grades improve with depth and further deeper drilling is warranted, particularly as the project area is located approximately 300 metres above an accessible valley floor.

Table 2 Initial Deep Diamond Drilling Hole at the Dollar Target

Hole ID From

(m)

To

(m)

Intercept

Interval

(m)**

Au

(g/t)

Ag

(g/t)

Zn

(ppm)

Pb

(ppm)

Cu % Mo % AuEq

(g/t)*

SAC-7 0 621 621 0.22 3 207 49 0.01 0.001 0.26
Incl. 547 621 74 0.49 6 195 19 0.05 0.001 0.62

* AuEq (g/t) = (Au (g/t) x 0.95) + (Ag g/t x 0.013 x 0.90) + (Cu (%) x 1.83 x 0.92) + (Mo (%) x 4.57 x 0.92), utilizing metal prices of Cu – US$4.00/lb, Mo – US$10.00/lb, Ag – $20/oz and Au – US$1,500/oz and recovery rates of 95% for Au, 90% for Ag, 92% for Cu and Mo.

** a 0.1 g/t AuEq cut-off grade was employed with no more than 10% internal dilution. True widths are unknown, and grades are uncut.

The San Antonio project benefits from favorable topography with approximately 600 vertical metres of elevation change from the mountain peaks to the various flat lying valleys. Additionally, the topography is not overly steep, lending itself to multiple potential infrastructure development scenarios should an economic deposit be discovered in the future.

Source: Collective Mining

Figure 1: Plan View of the San Antonio Project and the Pound Target

Plan View of the San Antonio Project and the Pound Target. Source: Collective Mining

Figure 2: Plan View of the Pound Target

Source: Collective Mining

Figure 3: Cross Section of Pound Drilling

Source: Collective Mining

Figure 4: Core Photos: Pound: SAC-6 and SAC-8

Hydrothermal breccias, cemented by sericite, carbonates, and sulphides are overprinted by strong advance argillic alteration with pyrite and chalcopyrite and molybdenite mineralization. Source: Collective Mining 
Carbonate base metals with galena, sphalerite and pyrite mineralization. Microdiorites and quartzodiorites with secondary biotite alteration with magnetite chacopyrite and pyrite mineralization. Source: Collective Mining

Figure 5: Core Photos: Dollar, SAC-7. Clay Alteration Overprint Decreases With Depth

Quartz Diorites porphyry overprinted by strong Sericite alteration, quartz veinlets with magnetite, pyrite, and chalcopyrite. Source: Collective Mining
 
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

 

The post Collective Mining (TSXV:CNL) Announces Significant Discovery at Its San Antonio Project appeared first on MiningFeeds.

Author: Matthew Evanoff

Articles

Trending Penny Stocks to Watch As the Market Regains Confidence

Check these three penny stocks out for your watchlist
The post Trending Penny Stocks to Watch As the Market Regains Confidence appeared first on Penny…

Are These Penny Stocks on Your Watchlist Right Now?

After a bullish and relatively stable day of trading penny stocks and blue chips, investors are eager about what the future could hold. Now, in the past few months, penny stocks and the entirety of the stock market have been highly volatile. While this is traditionally characteristic of penny stocks, it is not usually the extreme that we’ve witnessed recently. With the Omicron variant and high inflation rates, investors are showing high levels of uncertainty about the short-term future. 

[Read More] Hot Metaverse Penny Stocks To Add To Your List In December 2021

And while this may seem scary to some, to others, it presents a way to make money with penny stocks. Because most traders tend to swing trade small caps, large price movements present a way to benefit in small increments of time. If a stock shoots up or down a few hours or a few days, investors can take advantage. But, this involves having a well-thought-out and consistent trading strategy. 

When it comes to trading any type of stocks, knowing your tolerance for risk and threshold for volatility, will go on a long way. And this is especially true when it comes to small caps. Lastly, understanding what the market is doing and what events are on the horizon, will benefit you greatly. Considering all of this, let’s take a look at three penny stocks to watch as the market regains confidence. 

3 Top Penny Stocks to Watch in December 2021

  1. DatChat Inc. (NASDAQ: DATS
  2. New Gold Inc. (NYSE: NGD
  3. Ideanomics Inc. (NASDAQ: IDEX

DatChat Inc. (NASDAQ: DATS) 

One of the bigger gainers of the day is DATS stock, pushing up by almost 5% at EOD. While no news came out on December 6th showing why DATS stock would push up, we can look at some older announcements to try and deduce a reason. At the end of November, the company announced the launch of a new rewards program known as Nirad Points Rewards Program or NRD. This will offer the first 1 million users 10,000 NRD. 

“We see this as a unique opportunity to vastly accelerate the growth of the DatChat platform by attracting new users that understand and appreciate the importance of blockchain and privacy technology. The Nirad will underpin our blockchain network and power our platform through the engagement of our community.” 

Darin Myman, the CEO of DatChat

If you’re not familiar with DatChat, it is a tech company working in the fields of blockchain, cybersecurity, and social media. It offers tech that enables its users to message privately, send encrypted photos, and so on. Right now, there is a large amount of bullishness surrounding the tech industry. And because of this, DATS is seeing heightened attention. Whether this makes DATS stock worth adding to your list of penny stocks to watch or not is up to you. 

New Gold Inc. (NYSE: NGD)

New Gold Inc. is a mining penny stock that climbed by a solid 8%, which is quite substantial for a mining stock. While NGD’s main focus is on mining gold, it also searches for silver and gold at its deposits. Its primary properties are the New Afton and Rainy River Mines in Canada. In addition, the corporation owns and runs the Cerro San Pedro mine in Mexico. This penny stock frequently fluctuates in response to current gold prices. However, because New Gold also mines for silver and copper, the prices of those metals have an impact on the company as well.

[Read More] 5 Penny Stocks To Buy In December According To Insiders

On November 19th, the company provided an update on the impact of heavy rains in British Columbia at the New Afton Mine. These heavy rains have created flooding and mudslides in the region. As a result, transportation routes to the New Afton mine have been disrupted. This flooding has had no impact on the infrastructure or operations of the New Afton mine.

The company stated that the negative impact on the mine will depend on the duration of the transportation disruption. Despite this small upset, New Gold is performing well at the moment. On December 6th, New Gold Inc. is up over 8% in total. It’s hard to deduce exactly why this occurred, however, it could be the result of the bullishness on gold right now. Considering this, will you add NGD stock to your penny stocks watchlist in December?

Penny_Stocks_to_Watch_New_Gold_Inc._(NGD_Stock_Chart)

Ideanomics Inc. (NASDAQ: IDEX)

Ideanomics Inc. is another decent gaining penny stock that increased by 3.68% on December 6th. If you’re not familiar, Ideanomics operates in two sectors: mobility and fintech. On one hand, the company promotes fleet operators to replace their current vehicles with electric vehicles. Ideanomics aids these firms at every stage of the process, including procurement, financing, charging, and energy management requirements for the adoption of these commercial electric vehicles. On the other hand, Ideanomics invests in budding fintech solutions, which has become a major focus in the past few months.

On November 23rd, the company released its third-quarter financial results for 2021. Ideanomics’ total revenue was $27 million during the quarter. Its revenue from its Mobility Unit was $11.5 million, up from $8.7 million the previous quarter. This is the third quarter in a row that the Mobility Unit has received growth. The company’s gross profit was $4.5 million compared to $0.7 million year over year.

“This quarter was highlighted by two very important strategic planned acquisitions of VIA Motors and Energica both scheduled to close in the first quarter. The integration of these two companies provides Ideanomics with full OEM capabilities across vehicle types, and positions Ideanomics as one of the only full-service, turnkey, offerings in the market today.”

Alf Poor, the CEO of Ideanomics

Noting this recent stock price increase and its financial results, will IDEX make your penny stock watchlist?

Penny_Stocks_to_Watch_Ideanomics_Inc

Which Penny Stocks Are on Your Buy List?

If you’re looking for the best penny stocks to buy, there are hundreds to choose from. But, because there is so much price movement in the stock market right now, knowing exactly where to look and which ones fit your investing style, will be a large asset to your trading.

[Read More]  3 Penny Stocks to Watch As Omicron Variant Fears Wane

Right now, investors need to consider factors such as the Omicron variant and inflation as a part of their trading strategies. With all of that understood, which penny stocks are on your buy list right now?

The post Trending Penny Stocks to Watch As the Market Regains Confidence appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.




Author: J. Phillip

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Economics

High Import Prices along the Global Supply Chain Feed Through to U.S. Domestic Prices

The prices of U.S. imported goods, excluding fuel, have increased by 6 percent since the onset of the COVID-19 pandemic in February 2020. Around half of…

The prices of U.S. imported goods, excluding fuel, have increased by 6 percent since the onset of the COVID-19 pandemic in February 2020. Around half of this increase is due to the substantial rise in the prices of imported industrial supplies, up nearly 30 percent. In this post, we consider the implications of the increase in import prices on U.S. industry inflation rates. In particular, we highlight how rising prices of imported intermediate inputs, like industrial supplies, can have amplified effects through the U.S. economy by increasing the production cost of goods that rely heavily on these inputs.

Breaking Down Import Prices by Industry

Import prices of industrial supplies and materials have been highly volatile in the recent period, as shown in the chart below, where we divide imported products by their end-use categories. The import price of industrial supplies (red) fell 4 percent with the COVID-19 shutdowns, and was 28 percent higher in July 2021 than its pre-COVID level.  

The industrial supplies and materials category comprises intermediate inputs used along the supply chain: paper and paper base stocks; agricultural products and textile supplies; building materials; and unfinished metals, finished metals, and nonmetals for durable goods. The largest price increases within this category have been in unfinished metals for durable goods. Import prices of other end-use categories were far less volatile, with consumer goods prices just 1 percent higher.

How have these changes in import prices fed through the U.S. economy?

Imported Prices of Industrial Supplies Have Shot Up in Recent Months

Imported Prices of Industrial Supplies Have Shot Up in Recent Months

Source: Bureau of Labor Statistics (BLS).

Notes: We exclude fuel prices because they are generally highly volatile. The import price indexes are all indexed to 100 in February 2020 to coincide with the beginning of the COVID-19 pandemic. Each category’s share of total imports in 2017 was as follows: Foods, feeds, and beverages made up 6 percent; industrial supplies and materials 14 percent; capital goods 30 percent; autos, parts, and engines 17 percent; and consumer goods 28 percent.

Methodology

To understand how changes in import prices can affect U.S. domestic prices, we draw on a 2019 study that showed that changes in import prices can affect domestic prices through two channels: (i) strategic complementarities and (ii) marginal cost. The first channel captures how much domestic firms adjust their prices in response to changes in the prices charged by their foreign competitors. For example, if the price of imported cars increases, domestic car producers can also increase their prices. The marginal cost channel captures how much domestic prices change in response to changes in input costs, which are affected by imported intermediate inputs. For example, when the prices of imported steel go up, this affects the cost of producing cars, which feeds through to higher prices of domestically produced cars.

The 2019 study was able to isolate these two effects using a rich firm-level data set for Belgium. We apply that framework to the U.S. economy using industry-level data, since firm-level U.S. data are unavailable to us. Even though we will not be able to establish a causal relationship, we nevertheless uncover some interesting correlations.

We use industry-level producer price indexes (PPI) as our measure of industry inflation instead of the consumer price index (CPI) because a clear mapping between international products and domestic industry categories is only available for PPI categories. The PPI measures the price received by domestic producers for their goods or services, comprising both final goods and intermediate goods. It is constructed by the BLS from a monthly survey of establishments representing nearly the entire goods sector. Our analysis covers all tradable industries and is at the level of industry categories that are used to construct input-output tables by the Bureau of Economic Analysis, spanning 222 industries.

The Comovement of Import and Domestic Prices

To provide some context for the two channels outlined above, we first present two scatterplots of the change in producer prices against import prices and imported input prices, respectively. The panel on the left shows the 12-month change in import prices against the 12-month change in producer prices over the period July 2020 – July 2021 for all traded industries in our sample. This panel seeks to capture strategic complementarities by plotting, for each industry, the change in domestic producer prices against the change in import prices. The correlation between the two series was 57 percent over the recent period, more than double the correlation in the pre-COVID period (26 percent). This higher correlation likely reflects the fact that countries around the world have been hit with the same kind of supply-side shocks, driving all prices up. Several industries, particularly wood product manufacturing, iron and steel mills, and other categories of industrial supplies, stand out as having experienced particularly large increases in both producer prices and import prices.    

U.S. PPI Increases with Import Prices: July 2020 to July 2021

Source: Authors’ calculations.

Notes: The import price indices are constructed from highly disaggregated import prices (measured as the ratio of values to quantities) from U.S. Census measured as weighted averages using lagged annual import weights. The PPI data are from the BLS.

The panel on the right shows a similar scatterplot for the 12-month change in producer prices against the change in imported input prices for each industry. We construct this series from the import prices of all industries supplying a given industry, using the BEA’s input-output matrix. This panel seeks to capture the marginal cost channel. We find a strong positive correlation, 0.46, between an industry’s prices and the prices of its imported inputs over the July 2020 – July 2021 period, higher than the correlation of 0.31 in the pre-COVID period.

Channels through which Import Prices Affect U.S. PPI

We next analyze the effects of rising import prices on U.S. producer prices via the two channels described above using a more formal regression analysis. Since the correlation between import prices and domestic producer prices increased in the post-COVID period, we allow the pass-through to differ by running two separate regressions for the pre- and post-COVID periods. In the table below, we illustrate our results by considering how prices in the United States would be affected if import prices were to rise by 10 percent.

First, an increase in import prices allows domestic competitors to also increase their prices without losing market share—the strategic complementarities channel. In the first row, we see that a 10 percent increase in import prices is associated with a 0.3 percent increase in domestic producer prices due to this mechanism during the pre-COVID period, with this effect more than doubling to 0.67 percent post-COVID. The size of these effects depends on the share of consumption that imports account for, with the average imported share in the tradeable sector equal to 0.3.

Second, we see much larger effects through the marginal cost channel. When the cost of intermediate inputs rises, firms are likely to pass these on in terms of higher output prices, though some of the increase could be absorbed in profit margins. We estimate the effect of imported input prices on domestic producer prices in two steps. First, we examine the association between changes in the prices of imported inputs and changes in domestic input prices. We construct domestic input price indices using the producer prices of all industries that are inputs to a given industry according to the BEA’s input-output matrix, where the inputs include industrial supplies as well as other intermediate goods such as auto parts and semiconductors. In the second stage, we then relate the change in producer prices to the change in domestic input prices that is due to imported inputs. By using domestic input prices in the second stage of the estimation, our approach has the advantage of providing us with a broader measure of marginal costs. It also helps attenuate the omitted variable bias that could be caused by only including imported prices. Since our marginal cost measure does not include labor costs, our analysis omits any effect of import prices on producer prices operating through changes in labor costs.

As shown in the second row of the table, we estimate that a 10 percent rise in imported input prices is associated with a 0.7 percent increase in PPI pre-COVID and a 1.9 percent increase post-COVID.

Pass-Through from Import Prices to Domestic PPI more than Doubled during COVID Period

Effect of a 10 percent change in import prices on PPI
  Pre-COVID Post-COVID
1. Strategic complementarities channel 0.32 0.67
     (average share of imports=0.30)    
2. Marginal cost channel 0.71 1.89
     (average share of imported inputs=0.18)    
Total Effect (row 1 + row 2) 1.03 2.56
Source: Authors’ calculations.

Notes: The pre-COVID period runs from January 2013 to February 2020, and the post-COVID period is March 2020 to July 2021.

Summing up the two effects, our regression analysis suggests that a 10 percent increase in import prices is associated with a 2.6 percent increase in PPI post-COVID, compared to only a 1.0 percent increase pre-COVID. Most of this effect (around 70 percent) flows through the marginal cost channel. The finding that the marginal cost channel dominates the strategic complementarities channel is consistent with other studies. However, the magnitude of both effects during the COVID period is much higher than in previous periods. This likely reflects that price increases around the world are being driven by common factors such as supply chain bottlenecks and pent-up demand. Studies that used variation in U.S. import tariffs to estimate the effects on PPI, which plausibly provide more exogenous variation for identification, found the same pass-through rate from tariffs to PPI as our pre-COVID results.

How Much Did PPI Increase due to Higher Import Prices?

Using our estimates, we show how much the actual changes in import prices contributed to changes in PPI via each of the two channels in the chart below. Each bar represents the twelve-month change in the PPI at the month indicated on the x-axis. The blue coloring indicates the change in the PPI that we attribute to the strategic complementarities channel based on our analysis, and the gold area shows the change due to the marginal cost channel.

The chart highlights three points. First, the contribution from the marginal cost channel is higher than the contribution of the strategic complementarities channel throughout the sample period, with the effect of marginal costs particularly high in the recent period. Second, the percentage point contribution to PPI has been the highest in the last three months compared to any month since the beginning of the sample. This larger contribution of import prices to the PPI is largely due to the bigger changes in imported industrial supply prices (as shown in the first chart), combined with the higher pass-through from import prices into the PPI (shown in the table). Third, PPI increases are significantly higher in recent months, consistent with the high headline inflation during that period, and the unexplained part (gray bars) is much larger than in any other period, highlighting that there are also other important, and atypical, forces hitting the economy during the pandemic.

In sum, we find that imported input prices have had an amplified effect on U.S. domestic prices in recent months, both because of their substantial rise and because of a higher pass-through rate.

Higher Import Prices Have Had an Amplified Effect on U.S. PPI in Recent Months

Higher Import Prices Have Had an Amplified Effect on U.S. PPI in Recent Months

Source: Authors’ calculations using U.S. Census data.

Notes: The height of the bars reflects the log change in U.S. PPI. The blue bars indicate the percentage point contribution to PPI from the strategic complementarities channel; the gold bars indicate the percentage point contribution to PPI from the marginal cost channel.

Mary Amiti is a vice president in the Federal Reserve Bank of New York’s Research and Statistics Group.

Sebastian Heise is an economist in the Bank’s Research and Statistics Group.

Aidan Wang

Aidan Wang is a senior research analyst in the Bank’s Research and Statistics Group.

How to cite this post:
Mary Amiti, Sebastian Heise, and Aidan Wang, “High Import Prices along the Global Supply Chain Feed Through to U.S. Domestic Prices,” Federal Reserve Bank of New York Liberty Street Economics, November 8, 2021, https://libertystreeteconomics.newyorkfed.org/2021/11/high-import-prices-along-the-global-supply-chain-feed-through-to-us-domestic-prices.


Disclaimer
The views expressed in this post are those of the authors and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the authors.









Author: peterstevens

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Precious Metals

Satori Drills 5.8m of 47.56 g/t Gold at Tartan Lake, Manitoba – Shares Jump 16%

Satori Resources Inc. [BUD-TSXV; STRRF-OTC] reported additional results from the completed phase 1 drill program…

Satori Resources Inc. [BUD-TSXV; STRRF-OTC] reported additional results from the completed phase 1 drill program at the 100% owned Tartan Lake property, near Flin Flon, Manitoba.

TLMZ21-11 and TLMZ21-12 both targeted the down plunge continuation of the Main zone mineralization, approximately 100 metres to the west of TLMZ21-01 (4.15 metres averaging 9.73 g/t gold) and 75 and 150 metres below the historic holes defining the resource limits.

Both holes intersected two distinct zones of mineralization. A hanging wall (HW) zone, not observed in the earlier holes, completed 100 metres to the east, associated with quartz-feldspar intrusives, and was intersected 20 to 25 metres above the quartz-carbonate-tourmaline veins defining the Main zone.

TLMZ21-12 intersected 5.80 metres averaging 47.56 g/t gold in the HW zone followed by a Main zone intercept of 1.60 metres averaging 7.25 g/t gold (Summary of Results TLMZ21-11 and 12, TLSZ21-10). The company advises that results of the standard screen metallic assays for the HW zone are pending. The company believes that it is unlikely the screen metallic results will materially affect the reported results.

TLMZ21-11 intersected 5.25 metres averaging 2.25 g/t gold in the HW zone followed by 2.10 metres averaging 8.87 g/t gold in the Main zone.

Jennifer Boyle, CEO, stated: “These latest results clearly demonstrate that additional discovery potential exists at depth along the Main Zone plunge. Over 500 drill holes have been completed at Tartan Lake. To have one hole of a small drill program intercept the second highest grade ever reported at Tartan Lake is a very encouraging result. The hanging wall mineralization intersected in hole TLMZ21-12 may represent a new zone of gold mineralization that parallels the Main Zone. The signature quartz-carbonate veining is absent in the hanging wall zone. The high-grade mineralization is associated with felsic intrusives and increased sulphide content, which is further evidence suggesting that the hanging wall mineralization could reflect a new zone of mineralization. Additional drilling to evaluate the extent of the hanging wall mineralization at depth to the west is certainly a priority for 2022. We are currently finalizing a ground based induced polarity (IP) survey of the Main, South, McFadden and Ruby Lake targets. We believe that the IP survey will identify additional, undrilled targets within the host shear zones. Our plan is to complete the IP survey in Q1-2022 and start a follow up drill program late in Q1-2022.”

The Tartan Lake Project (2,670 Ha.) is located approximately 12 km northeast of Flin Flon and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below US$390/oz. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t gold, an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface.

Author: Staff Writer

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