| As any shareholder in a resources company will know, there are a lot of moving parts to take into consideration when investing, not least of all the price and prospects for the commodity they produce. The gold price has recovered, while palladium and rhodium have rallied - and to a lesser extent platinum as well over the past year. These improvements are apparent in the latest trading statements from JSE-listed gold and platinum miners ahead of results later this month and into March. Impala Platinum has used the extra cash it's getting for its metal to buy back expensive bonds and it's expanding its portfolio to include more palladium with the acquisition of North American Palladium. Gold Fields has returned to profitability due to the higher gold price and action it took to stem losses at its South Deep Mine. Harmony Gold has also benefited. It's not just precious metals that have done well: until recent iron ore was also on tear. That's bad news for ArcelorMittal SA as it added to a a rising cost base, making it more expensive to manufacture steel in an environment where prices for the metal were declining. So, after returning to profitability in 2018, the steel producer has slumped back into a loss. More on its annual results in your final newsletter for the week, along with updates from Implats, Gold Fields, Harmony and consumer goods group AVI. OneLogix was also out with numbers yesterday and reported a decline in earnings due to weaker demand for logistics. And to wrap up, all the latest from DealMakers too. Have a wonderful weekend. Stephen Gunnion Managing Editor, InceConnect | 