⛏ Silver miner Sinda raises $323 million in US IPO

The metal in your pocket has no price
Your phone buzzed in your pocket this morning. The tiny weight that made it shake is tungsten. You’ve held this metal a thousand times. Now try to buy it. There’s no tungsten exchange or a futures contract and no fund that holds the metal. The price is set by a handful of weekly assessments most investors never read, in a market so small that one government office can move it with paperwork. That office sits in Beijing. And over the past sixteen months, it taught the West a lesson I call the Permission Premium: the price you pay when a commodity requires someone else’s signature. Read on »

Silver miner Sinda raises $323 million in US IPO, placement
Sinda Ltd., a silver mining company, raised $323 million in a US initial public offering and private placement, after moving up the timeline of its debut. The Mexico-based firm priced 17.75 million shares at $12 each, according to a statement Thursday. Read on »

Americans Are Spending More, but Their Savings Are Quietly Disappearing
May’s economic data tells a story that sounds good on the surface but gets more complicated the closer you look. The Bureau of Economic Analysis (BEA) released its report Friday showing personal income climbed 0.7 percent last month, adding $181.6 billion, with disposable income rising by that same margin. Read on »