Fresh from my site visit on Friday down to Melbourne,I was struck by how vibrant Melbourne feels compared to Sydney.Maybe it was just Grand Prix weekend but they do not seem to be as gloomy about he economy as we are up here.There are even stacks of cranes on the horizon as the city is upgraded.And public transport is just so much better..why can’t we have trams Mr O Farrell…with the Labour Government ,we have the faceless men but with Barry we can the grey nameless men men!Not quite sure what he has achieved in his first year..

Once again the Dow led the way last week with the S&P 500 up 2.4% and Apple breaking through $600..I mean Steve who?Oil was a big winner on Friday with a 2% surge although this may lead to some nerves about inflation and growth prospects but the SPI notched up a 30 point rise on Friday night.Expect to see the usual SOP with a jump on the opening followed by the Monday malaise..

Our market will continue to look less attractive then some overseas ones with the Dow expected to push towards 13,500

I was entertained on Friday by the team at Navarre Minerals who are exploring for Gold in Victoria near Bendigo. Great day and very insightful.Everyone is so focussed on West Africa and the more exotic locations that they sometimes forget what is on our doorstep..not quite as glamorous but exciting none the less..there is still an awful lot of Gold to come out of Victoria that’s for sure and with modern techniques it will come out..it’s just a question of time..the Navarre boys are certainly doing a good job but it takes time and money..I did ask the question is it really worth it to look for Gold..all we do is find it ,dig it up. change its shape and then bury most of it back in the ground in a vault..not a good question to ask a Geo!!Especially with the cost of drilling and exploring..still whilst the World prints money and the price stays high ..it must be worth it surely..as to Navarre..still lots of work to do but getting there..

Few things that caught my eye

1.UPS agrees to buy TNT Express in a Multi Billion dollar deal.

2.Chinese house prices see worse performance in a year

3.Apple cruises through $600 on new Ipad launch

4.IMF’s Lagarde says some nice things about World growth for a change!!

5.Gold still struggling as India moves to tax imorts!Not helpful

6.Indonesian new mining laws look like they will affect BHP and NCM after all…Lawyers field day!

7.Go Jensen Button..great start to the season…

Clarence

XXX