Rockcliff Metals Corporation was up 60.2% on unusually high trading volumes.
• This company holds a portfolio of copper-zinc projects in Manitoba. A few months ago, the company has announced receipt of multiple unsolicited M&A offers.
Analyst update on the mining sector:
• Global equity markets were up 1.4% on average last week. The S&P 500 was up 1% today amid expectations of favorable October inflation data.
• Metal prices rebounded last week, as the US$ was down 1.2%. We are not expecting a material slowdown in inflation, due to elevated oil prices and the strong labor market.
• We are expecting the US$ to strengthen, and equities/metal prices to pull back by the end of this week.
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