#Baltic Horizon Fund

[insideoutvietnam]

Baltic Horizon Fund publishes its 2023 Annual ESG report

Baltic Horizon Fund today announces the release of its fifth annual ESG report. Tarmo Karotam, Fund Manager for Baltic Horizon Fund, commented: “We are very pleased to present our new ESG report covering the fund’s operations for 2023.  Environmental, social, and governance considerations are increasingly important for real estate investors, and at Baltic Horizon, we have made it a key priority…

[dertaglichedan]

The clandestine bombings of the Nord Stream 1 and 2 pipelines under the Baltic Sea happened on September 26, 2022. This coming Tuesday will mark the one-year anniversary. The prospect of a direct NATO-Russia war has only continued to grow since as a possible nuclear WW3-level disastrous catastrophe, still looming darkly on the horizon.

Legendary American investigative journalist Seymour Hersh in his latest article has bluntly stated, "The reality is that Volodymyr Zelensky’s battered army no longer has any chance of a victory." Whereas previously there was a vast chasm between Hersh's conclusions and those of mainstream Western press reports, this is no longer the case... just see The Economist this week:

The Economist says we must prepare for a forever war in Ukraine

The latest edition of The Economist outlines what the next phase of the Ukraine war will look like.

So here’s what you need to know about the future of the conflict — straight from the mouth of the Western… pic.twitter.com/VoZDYhQZVg

— Thomas Fazi (@battleforeurope) September 22, 2023

The narrative dissonance must be particularly jolting for average Americans who up till this point have been treated to constant rosy pictures and overly optimist reports of Ukraine "winning" or at least "pushing back" the Russians. This was certainly the mainstream's driving theme at least throughout the first year of war, and even into the summer.

Hersh in his Thursday Substack report cited an unnamed intelligence source who "spent the early years of his career working against Soviet aggression and spying." That source said that despite some continued and recent attempts to paint the Ukraine counteroffensive as making slow but steady progress, the truth is the opposite.

"It’s all lies," the source told Hersh. "The war is over. Russia has won. There is no Ukrainian offensive anymore, but the White House and the American media have to keep the lie going."

"The truth is if the Ukrainian army is ordered to continue the offensive, the army would mutiny. The soldiers aren’t willing to die any more, but this doesn’t fit the B.S. that is being authored by the Biden White House," the intelligence source explained.

This conclusion was perhaps given some degree of confirmation when Zelensky met with Biden on Thursday. Lackluster is how we previously generally characterized the mood. Nothing new of importance was announced by Biden, other than a measly $325 million military aid package from already approved funds. There was also the mention of "limited" or "a little" US long-range missiles approved for Kiev.

[beardedmrbean]

"Could this be the week that government negotiations are wrapped up," Tampere-based Aamulehti asks on Monday morning, as the potential coalition partners enter their seventh week of talks.

Monday marks 71 days since the election, making this the second longest government formation period since the Second World War, Aamulehti notes. Urho Kekkonen's 1951 coalition currently holds the record for the longest period from election to government formation, taking 79 days to agree on a government programme.

NCP party chair Petteri Orpo, who is leading the current talks, told news agency STT that he was confident the negotiating parties would find common ground on the remaining unresolved issues this week.

This however depends on finding common answers to questions concerning the economy, social welfare and health care, as well as development cooperation funding.

Swedish People Party (SPP) chair Anna-Maja Henriksson has not expressed the same optimism as Orpo, Aamulehti however notes.

At her party's congress in Tampere, Henriksson said it was still uncertain whether a government consisting of the NCP, Finns Party, SPP and Christian Democrats would be formed at all.

She added that if a government was formed, it would not be a happy marriage, but rather a necessity given the current circumstances.

"The fact that we are negotiating means it is not yet a yes. It is a maybe. And we still have big issues on the table," Henriksson said.

"A religiously-motivated hate crime"

Multiple papers report on Monday that a Finnish pastor was attacked in a gay bar in the Estonian capital Tallinn during the weekend.

Lappeenranta-based Etelä-Saimaa reports that the pastor, Patrick Tiainen, had just finished speaking at a Baltic Pride event on Sunday when a 25-year-old man stormed in, attacking Tiainen with a knife.

"I had just apologised to those present that had been hurt and offended in the name of God when a young man came up and asked where the gay pastor was," Tiainen wrote in an Instagram post, adding that the man proceeded to punch him and wave a knife at him.

Bar staff eventually tackled the man to the floor before authorities arrived at the scene and apprehended him. A total of three people were taken to hospital in connection with the attack, Etelä-Saimaa writes.

The event's attendees described the attack as a "religiously-motivated hate crime".

"We will not let hate win," Tiainen concluded on his social media post.

Capital Birthday

Finland's capital Helsinki is celebrating its 473rd birthday on Monday, newspaper Ilkka-Pohjalainen writes.

'Helsinki Day' will be celebrated with about 170 free events around the city ranging from concerts and pop-up theatre shows to park discos and late-night basketball tournaments.

The celebration dates back to 1959 and involves numerous traditions, including a morning coffee date with the mayor at City Hall and the appointment of the Helsinki Day baby at the HUS Women’s Hospital.

It's getting hot in here

Better late than never, summer is expected to arrive in Finland this week, Helsingin Sanomat writes.

Finland could even see the 25-degree 'heatwave mark' surpassed on Monday, with meteorologists also forecasting readings closer to 30 degrees Celsius by the weekend, according to the paper.

Southern and Central Finland are expected to see the hottest temperatures this week, while Lapland is forecast to be considerably cooler, with cloudy skies and rain showers on the far northern horizon.

The rest of the country is expected to stay dry however, with forest fire warnings in place daily throughout the early part of the week.

[swldx]

BBC 0432 6 Mar 2023

9915Khz 0400 6 MAR 2023 - BBC (UNITED KINGDOM) in ENGLISH from TALATA VOLONONDRY. English, dead carrier s/on @0400z modulation slowly faded up to newsroom preview in progress. @0401z World News anchored by Danielle Jalowiecka. South Korea on Monday announced a contentious plan to raise local civilian funds to compensate Koreans who won damages in lawsuits against Japanese companies that enslaved them during World War II. Twitter insiders have told the BBC that the company is no longer able to protect users from trolling, state-co-ordinated disinformation and child sexual exploitation, following lay-offs and changes under owner Elon Musk. President Joe Biden told a crowd gathered to commemorate the 58th anniversary of a brutal police attack on Black protesters that the right to vote was “under assault” as Republicans introduce laws to restrict ballot access and redraw voting districts. Thousands of Venezuelans rallied in Caracas today to mark the 10th anniversary of Hugo Chavez’s death. Voters in Estonia elected a new parliament Sunday with initial results suggesting the center-right Reform Party of Prime Minister Kaja Kallas, one of Europe's most outspoken supporters of Ukraine, had won overwhelmingly with nearly all votes counted. Kallas faced a challenge from the far-right populist EKRE party, which seeks to limit the Baltic nation's exposure to the Ukraine crisis (both support and blocking "migrants") and blames the current government for Estonia's high inflation rate. UK researchers are optimistic that they will soon regain access to the European Union’s flagship Horizon Europe funding programme, after the United Kingdom and the EU reached an agreement on the status of Northern Ireland after Brexit. For the past two years, UK participation in the €95.5-billion EU research programme has been in limbo as negotiations dragged on over the Northern Ireland Protocol, which concerns the flow of goods between the United Kingdom and the EU through the UK territory. Japan's coastguard said Monday it was searching for seven people missing after their boat capsized and was spotted in waters off the Tokyo-controlled Senkaku islets, which are also claimed by China. A flight bound for Fort Lauderdale returned to Havana Sunday after the aircraft was reportedly struck by birds making an engine catch fire. Cellphone video showed smoke filling the cabin. @0406z "The Newsroom" begins. Backyard fence antenna, Etón e1XM. 250kW, beamAz 315°, bearing 63°. Received at Plymouth, United States, 15359KM from transmitter at Talata Volonondry. Local time: 2200.

[kinnisvarakool]

Baltic Horizon: Baltic Horizon Fund on allkirjastanud turutegemise teenuslepingu Sedermeraga

Baltic Horizon: Baltic Horizon Fund on allkirjastanud turutegemise teenuslepingu Sedermeraga

Northern Horizon Capital AS teatab käesolevaga, et Baltic Horizon Fund on sõlminud turutegemise teenuslepingu Sedermera Corporate Finance AB-ga („Sedermera“), kes asub täitma turutegija kohustusi eesmärgiga tagada Baltic Horizon Fundi Rootsi hoidmistunnistuste („SDR“) likviidsus. Lepingu kohaselt pakub Sedermera likviidsust nii ostu kui müügi poole pealt vähemalt 85% kauplemise ajast Nasdaq…

[somethingusefulfromflorida]

All joking aside, Prince Philip’s death could very well pave the way for the abolition of the monarchy within our lifetime.

He wasn’t the king, he was the prince consort, just the husband of the ruling queen, politically insignificant; if Elizabeth had died before him, he wouldn’t have become king, it would have passed directly to their son Charles. His death is largely irrelevant for succession and the continued existence of the monarchy, but it paves the way for a more significant death, that of Elizabeth herself.

Elderly couples, especially those who have been together for decades, tend to die shortly after one another, overcome by stress and grief. In the US, former first lady Barbara Bush died in April 2018, followed shortly by her husband president George Bush Sr that November. Now, I don’t know how much of Elizabeth and Philip’s relationship was based on real love ad how much was for appearance’s sake, but I have to assume that the queen isn’t going to just get over this like it was nothing. She’s in relatively good health and could potentially have lived to be as old as her mother had, 101, but now I think she’s going to slowly deteriorate. She has the best healthcare on the entire planet, so it’s not like she’s just going to up and die tomorrow, but I figure her lifespan will be cut short by at least a few years than it otherwise would have been.

This is significant because the UK has never had a monarch like her. She SHATTERED the record for longest reign, which will likely go unbroken for centuries as it would require someone to ascend to the throne at a very young age and then live to be almost 100. Charles and William and George will be old when they take the throne (I don’t expect George to be king until the 2060s or 70s. As life expectancy increases, it’s unlikely a king or queen will die with any youthful heirs; they’d all be middle aged)

Elizabeth is an outlier. She is beloved in ways that Charles never will be. She is seen as England Incarnate, she’s been around so long that she’s become their mascot. People can’t imagine an England without her, she’s part of the background, she comes with the drapery! When she dies, Charles won’t be nearly as popular as she is; politicians and public figures haven’t grown up under his reign, generations haven’t lived and died, he hasn’t cemented himself as part of the cultural zeitgeist like she has.

I think once Elizabeth dies (place your bets; I’m guessing 2022 or 2023), there will be greater calls for the abolition of the monarchy. That’s not to say the monarchy will be immediately dissolved, just that it will become more politically and socially acceptable for people to call for its dissolution. When Elizabeth is gone, people will start to question why there even needs to be a monarchy in the first place.

It will become a partisan political issue; Tories will support the monarchy, while Labour will waffle back and forth about whether or not to commit to choosing a side one way or the other contingent on the results of the next election. SNP, Sinn Fein, and the Lib Dems will be staunch republicans (meaning they’ll support a republic, not to be confused with the American definition of Republican which is the exact opposite). The reign of King Charles III will be a window for abolitionists and Celtic nationalists; I figure there will be another Scottish independence referendum, maybe even talks of Irish reunification as the aftermath of Brexit threatens to reignite the Troubles. The future of the monarchy depending on how the UK responds to upcoming and as yet unforeseen political crises. There will be wars and recessions and partisan squabbling over whose fault the wars and recessions are, but if the UK suffers unduly then Charles will become the perfect scapegoat. Conservatives will call for his abdication to make way for the extremely popular Will and Kate, while the opposition will call for total abolition. If it’s not dissolved under Charles, then it never will be. William is more popular than his father, and Kate is beloved like Princess Di. Once they’re on the throne, popular support for republicanism will evaporate.

I see a European war on the horizon as Russia continues to interfere in eastern Ukraine and the Caucasus mountains and perhaps even the Baltics. NATO might try to step in and launch coalition forces against Russia (or more likely they’d start a proxy war, funding and selling arms to local forces to fight the pro-Russian rebels; Cold War 2.0), at which point the UK will go full isolationist and withdraw from the alliance. Conservatives will call for a NATO Brexit, “Nexit” if you will.

The death of Prince Philip is a meme right now, but I think it will have major political implications in the coming decades. His death is the first domino to fall, but there’s no way of knowing whether it’ll start a full cascade or if it’ll fizzle out and leave the rest of the dominos standing for future generations to try and topple. When Liz dies, I give 25 - 33% odds of abolition, if Labour can grow some balls and appoint a leader who actually inspires people.

[kinnisvara]

Baltic Horizon korraldab 2017. aasta III kvartali majandustulemuste tutvustamiseks investorite veebiseminari

Baltic Horizon Fund kutsub osakuomanikke, investoreid, analüütikuid ja teisi huvilisi osalema oma investorite veebiseminaril 18. detsembril 2017.a. kell 13:00 (CET) / 14:00 (EET).

Veebiseminari juhib Baltic Horizon Fund fondijuht Tarmo Karotam. Presentatsioonile järgneb küsimustevoor. Piiratud aja tõttu soovitame osalejatel saata oma küsimused enne veebiseminari toimumist, hiljemalt 17.…

[insideoutvietnam]

In order to complete Meraki refinancing Baltic Horizon Fund requests for a waiver and bondholders consent under the bond terms and conditions

Baltic Horizon Fund applies for a waiver of negative pledge undertaking in relation to Baltic Horizon Fund EUR 42 million 5-year floating rate bonds maturing in 2028 (ISIN EE3300003235, the Bonds). The current outstanding nominal amount of the Bonds is EUR 29,999,999.40 and according to the terms and conditions of the Bonds (the Terms and Conditions) Baltic Horizon Fund is to mandatorily redeem…

[pharmaphorumuk]

Limited access to cancer biomarker testing in Europe, report finds

There is limited access to biomarker testing for cancer in Europe, despite the huge potential of the technology to improve outcomes, according to a new report.

The report from European Federation of Pharmaceutical Industries and Associations (EFPIA) shows the results of research conducted in 2020 to assess the availability, quality and reimbursement of biomarker tests in the EU27 and the UK.

Released in partnership with the International Quality Network for Pathology (IQN Path) and the European Cancer Patient Coalition, the report noted that biomarker tests are becoming an important part of precision medicine.

They can be used in diagnoses and identify patients most likely to response to a treatment as well as predicting and monitoring disease progression, as well as highlighting patients at increased risk of developing a condition.

Unlocking the Potential of Precision Medicines in Europe assesses key biomarkers according to four access metrics – laboratory access, test availability, reimbursement and test order rate.

It also assessed according to three quality metrics – quality scheme participation, laboratory accreditation and test turnaround time.

Findings showed that northern and western countries generally performed well in biomarker testing, reflecting their higher investment in healthcare.

Southern and central European countries as well as the Baltic countries tend to have more variability in access to test infrastructure and funding.

Countries in eastern Europe require more significant structural changes to achieve equity in access to quality biomarker testing.

To provide a pathway for the improvement of access to and quality of biomarker testing in the EU27 and the UK, the study makes recommendations relating to both the short term years and the longer term.

This should help achieve the vision of transitioning to comprehensive and ongoing tumour testing throughout the episodes of care for all patients with a cancer diagnosis.

Parallel approval of the medicine and associated testing, adopting a national system for biomarker test value assessment, dedicated biomarker test budgets, stakeholder education, centralised data collection and horizon scanning are among the short-term recommendations outlined in the study.

In the long term, the study calls for centralised testing infrastructure, harmonised approaches to test development, data sharing and guidelines on comprehensive testing.

Nathalie Moll, director general of EFPIA, said: “We cannot afford to be complacent. Cancer is on the rise throughout Europe.

“It is therefore a matter of urgency to provide physicians and health systems with the biomarker testing infrastructures and processes required in order to deliver the benefits of these therapeutic advances to patients, and to ensure that the pace of innovation can be sustained.”

The post Limited access to cancer biomarker testing in Europe, report finds appeared first on .

from https://pharmaphorum.com/news/limited-access-to-biomarker-testing-in-europe-report-finds/

[kinnisvarakool]

Baltic Horizon Fund: ajakohastatud teave Nasdaq Stockholmi börsil kauplemise kohta

Baltic Horizon Fund: ajakohastatud teave Nasdaq Stockholmi börsil kauplemise kohta

Northern Horizon Capital AS avaldas 22. septembril 2022 börsiteate, milles avaldas teavet seoses kauplemisega Nasdaq Stockholmi börsil – taotluse esitamisest seoses Baltic Horizon Fundi (“Fond”) osakute de-noteerimisega Nasdaq Stockholmi börsil ja kavatsusest noteerida Nasdaq Stockholmi börsil Rootsi hoidmistunnistused, mis esindavad Fondi osakuid (“SDR”), pärast SDR-de avaliku pakkumise…

[kinnisvara]

Novembris toimub Tallinnas kinnisvarakonverents NORDIC REAL ESTATE FORUM 2017

30. novembril 2017 toimub Hilton Tallinn Park Hotellis NORDIC REAL ESTATE FORUM 2017, kuhu on oodatud kõik kinnisvarahuvilised!

Neli Eesti kinnisvaraliitu on 15 järjestikusel aastal korraldanud Baltikumi suurimat kinnisvarakonverentsi, mida on läbi aastate Tallinnas külastanud rohkem kui 4000 osalejat ja üle 450 esineja enam kui 15 riigist.

Nüüd oleme valmis viima selle järgmisele tasemele,…

[karingudino]

Europe’s green opportunity | Opinion | Eco-Business

The Covid-19 disaster has offered Europe with a once-in-a-generation alternative to launch a brand new period of financial progress.

If the non-public sector and governments throughout the European Union work collectively on daring, progressive insurance policies within the close to time period, they will deal with not solely the present disaster but in addition foster regular enterprise funding and the creation of excellent jobs nicely into the long run.

The EU is shifting ahead with €750 billion ($888 billion) of latest stimulus spending as a part of its Next Generation EU initiative, over one-third of which is earmarked for tasks associated to local weather change, together with analysis into low-carbon options.

As this funding makes its method into the true economic system, it’ll broaden understanding of how climate-related investments can positively have an effect on the communities the place we stay and the companies the place we work.

To make sure most impression, Capgemini Invent not too long ago launched “Fit for Net-Zero,” a first-of-its-kind financial evaluation of the present funding alternatives on supply.

Commissioned by Breakthrough Vitality, a community of climate-oriented entities and initiatives backed by the philanthropist Bill Gates, the report identifies 55 low-carbon, real-world tasks throughout Europe which can be ripe for funding.

Every undertaking is geared towards scaling up new applied sciences and enterprise fashions that may assist Europe obtain net-zero greenhouse-gas emissions by 2050, and all sit inside one in every of 5 essential sectors: vitality, trade, buildings, transport, and agriculture.

Furthermore, every undertaking is at the moment at a special degree of maturity, representing the total spectrum of the innovation cycle, from early-stage demonstration to late-stage deployment, which helps diversify threat. Collectively, these tasks have the potential to reinvigorate and remodel Europe’s economic system.

In response to our report, creating and deploying these tasks can create a €12.9 trillion market alternative, assist 12.7 million jobs, and assist the EU obtain its bold emissions-reduction objectives by the center of this century.

To have such an outsize impression, every undertaking requires its personal mixture of private-sector creativity and capital funding, along with public funding and an appropriately aligned coverage framework from the EU and its 27 member states.

What do these progressive tasks seem like, and what insurance policies are wanted to assist them? Contemplate floating offshore wind. Europe’s nearshore shallow seas are already crowded with wind generators.

However till not too long ago, it has been a lot too costly to develop wind farms within the deep water the place 80 per cent of Europe’s offshore wind-generating potential is discovered.

By constructing 100 large-scale floating wind farms by 2030 within the Baltic and North Seas and within the Atlantic Ocean, we are able to start to unlock this huge potential and quickly scale up renewable vitality manufacturing in international locations like Portugal, Sweden, and Estonia.

On the coverage entrance, applications like Horizon Europe, the EU’s main funding automobile for analysis and innovation, can speed up advances in blade design, and in the end drive down prices for generators that don’t should be completely fastened onto the seabed.

One other promising funding space is in “Agriculture 4.0.” In Europe’s agriculture sector, the speed of uptake of digital applied sciences at the moment lags behind what’s taking place in different main industries, owing to margin constraints on farm tools and a relative lack of funding capability.

If farmers, tech corporations, universities, and others work collectively to establish greatest practices for farming applied sciences – similar to satellite tv for pc imaging, robotics, and blockchain – they might create a €10 billion market by 2050 that will additionally assist drive down emissions.

By bringing agriculture totally into the digital age, we are able to make the sector extra interesting for a youthful era of farmers who need to maximise efficiencies in how we develop our vegetables and fruit, increase our livestock, and handle arable land and forests.

Lastly, there are numerous alternatives within the renovation of public buildings. Colleges, hospitals, and different public services are very important to any group, however in Europe, they are typically among the many oldest and least energy-efficient types of infrastructure. All advised, buildings in Europe account for 40 per cent of EU vitality consumption.

Aided by new digital-modeling methods, renovating public buildings throughout Europe with cutting-edge supplies like aerogel insulation and vacuum-glazed home windows (which enhance insulation whereas rising penetration of pure mild) might slash carbon dioxide emissions, cut back public vitality prices, and assist 660,000 local jobs.

Coverage measures to assist enhance EU-wide renovation charges to a minimum of 3 per cent yearly embrace the just-announced Renovation Wave, investments in workforce improvement, and measures to decarbonise the development trade’s worth chains.

Even with all their potential, these three funding areas barely scratch the floor of what’s potential in Europe. Different tasks on our record embrace giga-factories to fabricate lithium-ion batteries, new types of city mobility like shared autonomous vehicles, insect proteins to decrease livestock emissions, and “inexperienced hydrogen” to chop emissions at Europe’s roughly 500 metal crops.

We all know that attaining a low-carbon future calls for innovation. Figuring out these tasks now lays down the newest marker on our path to net-zero emissions by 2050, and to establishing Europe as the worldwide chief within the local weather expertise markets that the world will more and more depend on.

Because the EU restoration cash allotted to struggle local weather change begins flowing into the economic system, we should be certain that political and trade leaders in any respect ranges concentrate on commonsense, coordinated policymaking that promotes and adequately helps low-carbon analysis and innovation.

Creating and scaling up new applied sciences is difficult. Extra to the purpose, it takes time, which is a useful resource that we are able to not spare.

Ann Mettler, Senior Director for Breakthrough Vitality, was head of the European Political Technique Centre, the in-house suppose tank of the European Fee. Cyril Garcia, CEO of Capgemini Invent, is a member of the Capgemini Group Government Board.

Source link

The post Europe’s green opportunity | Opinion | Eco-Business appeared first on Fikiss Permaculture.

source https://fikiss.net/europes-green-opportunity-opinion-eco-business/ Europe’s green opportunity | Opinion | Eco-Business published first on https://fikiss.net/ from Karin Gudino https://karingudino.blogspot.com/2020/12/europes-green-opportunity-opinion-eco.html

[andreagillmer]

The Die Is Cast

Source: Michael Ballanger for Streetwise Reports   02/24/2020

Sector expert Michael Ballanger charts the latest changes in the markets and prognosticates on when and why silver prices should make a move.

One of my good friends from the 1980s and 1990s was the late Ian McAvity, a superb technical analyst, a founder of Central Fund of Canada, a Bay Street Mover and, most importantly, a humble and thoroughly enjoyable man. He was the first newsletter writer that I came across in my early years as a “registered rep,” totally committed to technical analysis but with an undying and near-prophetical emphasis on precious metals.

It was in the 1980s, with gold having entered what would become a 21-year bear market. Many of the newsletter-flogging gloom-and-doomsters were making outrageous claims of “$1,000, $2000, $5,000 gold!!!” in a desperate (and unsuccessful) effort to distract their patrons away from the fledgling new bull market in stocks, which went on to dominate the investment horizons until the century came to its abrupt terminus. I liked Ian’s style because in the mid-1980s, his bearish technical assessment of gold turned out to be not only disappointedly spot on, but also quite a refreshingly contrarian approach.

However, what he is remembered for by this author is his response to the notion of a $1,000 gold price, usually delivered to an audience of survivalist gold bugs, all chanting and grumbling amid the gnashing teeth and gums at the $400 gold price while staring wild-eyed at the lectern. Ian would summarily punctuate the mood of the room with this sobering warning: “You better be careful what you wish for.”

As I look at the headlines this weekend of plunging the purchasing managers index and the collapsing Baltic freight index and more and more cases of COVID-19 in more and more countries, the McAvity caveat has never been more relevant. I am one investor who has decidedly mixed feelings about the prospect of new, all-time highs in the U.S. dollar (USD)-denominated price of gold, and I say that because gold is now at record highs in virtually every currency on the planet other than the USD.

Foreign investors are using U.S. dollars and gold as safe-haven warehouses, and only when that changes will U.S. and Canadian investors experience the full impact of this global exercise in currency debasement. As gold screamed through the 2019 high of $1,613 this week, I was filled with the sensation of “dread” despite what should have been celebration at having called it correctly.

You will recall my comments on the intellectual differences between stock, bond and copper investors, and how copper has the PhD while bonds wrote the textbooks, leaving stocks as the kid with the pointed hat sitting in the corner of the classroom. Well, the chart shown below is yet another exclamation point that illustrates what the really big and really smart money is doing—right now—and I assure you that it is not buying stocks or copper.

The yield on the long bond is heading south in a hurry, and because long-term yields are market driven and not “administered” (by Central Bank policy), it is evident that “the smartest guy in the room” is heading for the safety of the Treasury market.

With the big move in gold last week, most of the components of the 2020 portfolio moved in the right direction, although sadly, erring on the side of caution has left 2020 subscribers without the all-important key exposure to physical gold.

While I added calls on the silver exchange-traded fund (ETF; SLV:US) to mirror the physical silver position, I find myself mired in angst at the prospect of adding gold $100 higher than it was on New Year’s Day. I am sure that the exposure I have in place via the ETFs and junior developers provides sufficient upside leverage so as to fully capitalize on rising gold prices, but watching the golden engine steam out of the station while riding in the club car is somewhat (but not totally) frustrating. We are still going to arrive at the same destination but without the engineer’s enviable view.

Silver prices are once again lagging, and while in past times I would view this as a sell signal, I am sticking to my thesis that a “slingshot effect” is going to propel silver through the 2019 high of US$19.75 per ounce, eventually taking the GSR (gold-to-silver ratio) to 70. Looking out to Q4/2020, I see gold at record highs, with my guesstimate at $2,000 per ounce (give or take $50 or so). With a GSR of 70, that puts silver at US$28.57 per ounce. If SLV maintains its 6.6% discount to spot silver, that projects to US$26.68 for SLV, which is why I am long the March $16 calls for roughly 10% of the portfolio (and ahead roughly 25% year to date).

The HUI has finally made a move to the upside, and while it is obviously in response to new highs in gold, it is also related to some of the earnings reports that came out last week, most notably Eldorado Gold Corp. (ELD:TSX; EGO:NYSE; $9.93), which rose 32.05% on Friday after they reported stunning results and even better forward guidance. (I’ll have more on Eldorado in the subscriber section.) The significance of big reactionary moves like EGO had cannot be understated; it is rerating of the junior and intermediate producers that will drive the HUI to all-time highs (600-plus) in the months ahead.

I find it extremely encouraging and infinitely satisfying that the gold miners are finally getting some love bestowed upon them, as opposed to electric car companies that are leaking cash, diluting share capital while offering an inferior product, but which are still engrained in the minds of the millennials as “cool stocks to own.” When gold miners finally become “cool” to this younger generation of sheep, you and I will be net sellers but alas, that is some time in 2022 and at much higher levels.

I don’t have a lot of things to say this week about the GSR other than what I wrote last week in the Email Alert 2020-20: “I don’t want to hear or read excuses that blame JP Morgan or HSBC or the Crimex or the SEC or the ‘cartel;’ I want silver to break free of the shackles of intervention and interference and get into gear today. Period. If silver fails to launch into the slingshot effect, then the integrity and validity of the gold move is suspect and that goes for the gold miners as well. Accordingly, I am watching silver very closely for a sign that it has graduated into its role as a leader.”

You can take those words to the bank, because no one that matters ever cares to listen to excuses. The margin clerk doesn’t care; your loan officer doesn’t care; the CIO of your firm doesn’t care; and your loved ones don’t care either. Silver has to move, and it has to move now, as in next week—period.

Originally trained during the inflationary 1970s, Michael Ballanger is a graduate of Saint Louis University where he earned a Bachelor of Science in finance and a Bachelor of Art in marketing before completing post-graduate work at the Wharton School of Finance. With more than 30 years of experience as a junior mining and exploration specialist, as well as a solid background in corporate finance, Ballanger’s adherence to the concept of “Hard Assets” allows him to focus the practice on selecting opportunities in the global resource sector with emphasis on the precious metals exploration and development sector. Ballanger takes great pleasure in visiting mineral properties around the globe in the never-ending hunt for early-stage opportunities.

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Disclosure: 1) Michael J. Ballanger: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. My company has a financial relationship with the following companies referred to in this article: None. I determined which companies would be included in this article based on my research and understanding of the sector. Additional disclosures are below. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Charts provided by the author.

Michael Ballanger Disclaimer: This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.

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[insideoutvietnam]

Baltic Horizon Fund will hold an investor webinar to introduce the plan to issue new units by private placement

Baltic Horizon Fund will hold a general meeting of investors on 2 July 2024 (see announcements https://view.news.eu.nasdaq.com/view?id=bc61e2582f98b6d108ebd6a8dd224f38f&lang=en and https://view.news.eu.nasdaq.com/view?id=bcb0200f90971a24b66b970178a2f0ae0&lang=en). The agenda item to be voted on by the investors at the general meeting entails the issuance of new Baltic Horizon Fund units by…

[goldcoins0]

The Die Is Cast

Source: Michael Ballanger for Streetwise Reports   02/24/2020

Sector expert Michael Ballanger charts the latest changes in the markets and prognosticates on when and why silver prices should make a move.

One of my good friends from the 1980s and 1990s was the late Ian McAvity, a superb technical analyst, a founder of Central Fund of Canada, a Bay Street Mover and, most importantly, a humble and thoroughly enjoyable man. He was the first newsletter writer that I came across in my early years as a "registered rep," totally committed to technical analysis but with an undying and near-prophetical emphasis on precious metals.

It was in the 1980s, with gold having entered what would become a 21-year bear market. Many of the newsletter-flogging gloom-and-doomsters were making outrageous claims of "$1,000, $2000, $5,000 gold!!!" in a desperate (and unsuccessful) effort to distract their patrons away from the fledgling new bull market in stocks, which went on to dominate the investment horizons until the century came to its abrupt terminus. I liked Ian's style because in the mid-1980s, his bearish technical assessment of gold turned out to be not only disappointedly spot on, but also quite a refreshingly contrarian approach.

However, what he is remembered for by this author is his response to the notion of a $1,000 gold price, usually delivered to an audience of survivalist gold bugs, all chanting and grumbling amid the gnashing teeth and gums at the $400 gold price while staring wild-eyed at the lectern. Ian would summarily punctuate the mood of the room with this sobering warning: "You better be careful what you wish for."

As I look at the headlines this weekend of plunging the purchasing managers index and the collapsing Baltic freight index and more and more cases of COVID-19 in more and more countries, the McAvity caveat has never been more relevant. I am one investor who has decidedly mixed feelings about the prospect of new, all-time highs in the U.S. dollar (USD)-denominated price of gold, and I say that because gold is now at record highs in virtually every currency on the planet other than the USD.

Foreign investors are using U.S. dollars and gold as safe-haven warehouses, and only when that changes will U.S. and Canadian investors experience the full impact of this global exercise in currency debasement. As gold screamed through the 2019 high of $1,613 this week, I was filled with the sensation of "dread" despite what should have been celebration at having called it correctly.

You will recall my comments on the intellectual differences between stock, bond and copper investors, and how copper has the PhD while bonds wrote the textbooks, leaving stocks as the kid with the pointed hat sitting in the corner of the classroom. Well, the chart shown below is yet another exclamation point that illustrates what the really big and really smart money is doing—right now—and I assure you that it is not buying stocks or copper.

The yield on the long bond is heading south in a hurry, and because long-term yields are market driven and not "administered" (by Central Bank policy), it is evident that "the smartest guy in the room" is heading for the safety of the Treasury market.

With the big move in gold last week, most of the components of the 2020 portfolio moved in the right direction, although sadly, erring on the side of caution has left 2020 subscribers without the all-important key exposure to physical gold.

While I added calls on the silver exchange-traded fund (ETF; SLV:US) to mirror the physical silver position, I find myself mired in angst at the prospect of adding gold $100 higher than it was on New Year's Day. I am sure that the exposure I have in place via the ETFs and junior developers provides sufficient upside leverage so as to fully capitalize on rising gold prices, but watching the golden engine steam out of the station while riding in the club car is somewhat (but not totally) frustrating. We are still going to arrive at the same destination but without the engineer's enviable view.

Silver prices are once again lagging, and while in past times I would view this as a sell signal, I am sticking to my thesis that a "slingshot effect" is going to propel silver through the 2019 high of US$19.75 per ounce, eventually taking the GSR (gold-to-silver ratio) to 70. Looking out to Q4/2020, I see gold at record highs, with my guesstimate at $2,000 per ounce (give or take $50 or so). With a GSR of 70, that puts silver at US$28.57 per ounce. If SLV maintains its 6.6% discount to spot silver, that projects to US$26.68 for SLV, which is why I am long the March $16 calls for roughly 10% of the portfolio (and ahead roughly 25% year to date).

The HUI has finally made a move to the upside, and while it is obviously in response to new highs in gold, it is also related to some of the earnings reports that came out last week, most notably Eldorado Gold Corp. (ELD:TSX; EGO:NYSE; $9.93), which rose 32.05% on Friday after they reported stunning results and even better forward guidance. (I'll have more on Eldorado in the subscriber section.) The significance of big reactionary moves like EGO had cannot be understated; it is rerating of the junior and intermediate producers that will drive the HUI to all-time highs (600-plus) in the months ahead.

I find it extremely encouraging and infinitely satisfying that the gold miners are finally getting some love bestowed upon them, as opposed to electric car companies that are leaking cash, diluting share capital while offering an inferior product, but which are still engrained in the minds of the millennials as "cool stocks to own." When gold miners finally become "cool" to this younger generation of sheep, you and I will be net sellers but alas, that is some time in 2022 and at much higher levels.

I don't have a lot of things to say this week about the GSR other than what I wrote last week in the Email Alert 2020-20: "I don't want to hear or read excuses that blame JP Morgan or HSBC or the Crimex or the SEC or the 'cartel;' I want silver to break free of the shackles of intervention and interference and get into gear today. Period. If silver fails to launch into the slingshot effect, then the integrity and validity of the gold move is suspect and that goes for the gold miners as well. Accordingly, I am watching silver very closely for a sign that it has graduated into its role as a leader."

You can take those words to the bank, because no one that matters ever cares to listen to excuses. The margin clerk doesn't care; your loan officer doesn't care; the CIO of your firm doesn't care; and your loved ones don't care either. Silver has to move, and it has to move now, as in next week—period.

Originally trained during the inflationary 1970s, Michael Ballanger is a graduate of Saint Louis University where he earned a Bachelor of Science in finance and a Bachelor of Art in marketing before completing post-graduate work at the Wharton School of Finance. With more than 30 years of experience as a junior mining and exploration specialist, as well as a solid background in corporate finance, Ballanger's adherence to the concept of "Hard Assets" allows him to focus the practice on selecting opportunities in the global resource sector with emphasis on the precious metals exploration and development sector. Ballanger takes great pleasure in visiting mineral properties around the globe in the never-ending hunt for early-stage opportunities.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosure: 1) Michael J. Ballanger: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. My company has a financial relationship with the following companies referred to in this article: None. I determined which companies would be included in this article based on my research and understanding of the sector. Additional disclosures are below. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Charts provided by the author.

Michael Ballanger Disclaimer: This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.

from https://www.streetwisereports.com/article/2020/02/24/the-die-is-cast.html

[reforceinternational]

Reforce announces SEK 51 million equity raise to support sales growth and international expansion

September 4th, 2019

Reforce International (www.reforceinternational.com), a SaaS company delivering a technology platform for accelerating strategic initiatives within large organisations, announced today that the company has completed an equity raise of SEK 51 million. Lead investors included Creades, Swedbank Robur and Consensus Småbolag.

The funds raised in this financing will enable Reforce to accelerate sales growth, expand its geographical reach and further develop ReExecute, its proprietary software.

- We are very pleased to welcome these recognised investors to be part of our exciting journey. With these funds secured we can now focus on continued growth and developing our customer offering even more. Lately, large companies have realised the value of aligning the entire organisation when measuring progress on proactive initiatives and our software can be vital in achieving this. We are now in a position where we can fully benefit from this increased awareness amongst our potential customers, says Per Forslund, President, Reforce.

- Speed and precision in strategy execution is a key distinguishing factor between good and great companies. Even more so in today’s rapidly changing competitive environment. We believe Reforce is well positioned to become a global leader within its field’, says John Hedberg, CEO Creades.

- Tools that help accelerate and measure strategy execution are extremely important to business leaders that want to ensure a good ROI. We believe the tools from Reforce stand out in this area, and we are very excited to support the company and its entrepreneurs, says Henrik Carlman and Kristofer Barrett managers of the Fokus fund at Swedbank Robur.

The company is targeting an IPO during 2020.

Erik Penser Bank acted as financial advisor and sole book runner in the transaction. Synch Law acted as legal advisor.

About Reforce

Reforce is a Stockholm based international SaaS-company targeting large organisations. Its software, ReExecute, is a proactive tool that helps large organisations to execute better and faster on their strategies by visualizing, steering and measuring the business and strategy acceleration real-time and accurately throughout the entire organisation. By providing the tools and ability to be business agile, ReExecute helps its customers to increase revenues and profits.

About Creades

Creades is an investment company investing in businesses that have the potential for revaluation and value creation. Creades act as an engaged owner, mainly in smaller and mid-sized listed and unlisted companies in Sweden. Example of listed investments: Avanza, Lindab and Addnode. Example of unlisted investments: Apotea, Inet, Kaching, Röhnisch and Tink.

About Swedbank Robur

One of Scandinavia’s largest mutual fund managers with over SEK 1tn of assets under management (AUM) that serves approximately 3.1MM customers in Sweden and 1.1MM in the Baltic Region. Altogether there are approximately 80 investment funds under the Swedbank Robur brand covering all major regions, sectors and asset classes.

About Consensus Småbolag

Consensus Småbolag is an actively managed equity fund that invests in small and medium-sized companies in the Nordic countries. The fund has the ability to take large exposures in individual companies, but is otherwise diversified in its direction and is not concentrated to any specific industry. The fund has an investment horizon of 3-5 years and a concentrated portfolio of normally 15-20 companies, where the three largest companies can make up 50% of the total fund. The fund invests in smaller companies with a clear focus on growth with profitability. The initial investment in a company often happens at an early stage before the company is discovered by the market. In 2019, the fund’s value has risen by 34,9%.

Find out more about..

www.reforceinternational.com

www.reexecute.se

For Further information please contact

Per Forslund, President, Reforce, +46 (0) 8 24 31 10

Ulf Arnetz, Chairman, Reforce, +1 (917) 214-9437

Stina Åkesson, CFO, Reforce, +46 (0) 70 675 80 00