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Texas endowment to review $1 billion gold position, new CEO says
By Michael McDonald
Wednesday, February 28, 2018
The University of Texas Investment Management Co. will examine its $1 billion gold position in the portfolio of the largest public university endowment in the U.S.
"We're in no rush to sell but it may not be a long-term strategic hold," Britt Harris, the new chief executive officer at Utimco, said during a break at a board meeting in Austin. The endowment is also looking at fixed-income investments because of their poor returns, Harris said.
The gold position is about 3 percent of the portfolio. Utimco oversees $31 billion in assets for the University of Texas and Texas A&M University as of Dec. 31. It manages another $12.3 billion in operating funds. ...
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Peat Resources Ltd. Engages Better Chain S.L.
in Launch of Cobalt Blockchain Project
Thursday, March 1, 2018
TORONTO -- Peat Resources Ltd. (TSXV: PET) is pleased to announce that it has engaged Better Chain S.L. in the launch of the company's project to provide a blockchain-based platform to demonstrate compliance of cobalt and other minerals (the Cobalt Blockchain Project) with international standards on responsible procurement.
"Manufacturers and end-users are demanding more transparency on the origin of minerals to ensure compliance with international standards and that all materials procured are conflict- and child-labor-free," said Lance Hooper, Peat's president and chief operating officer. "To help meet these demands we are pleased to welcome Better Chain to the Cobalt Blockchain Project. Their wealth of experience will add immense value to our efforts in developing an integrated platform for mineral supply chains with an immediate focus on unlocking the potential of ethically-sourced cobalt from the Democratic Republic of the Congo." ...
Peat Resources Ltd. is a Canadian resource company expanding its exploration and development business to include interests in cobalt and other mineral assets, with existing licenses for conflict-free mineral and metals provisioning in the DRC, and exploring distributed ledger technology-based certification to ensure a socially-responsible cobalt supply chain with the Cobalt Blockchain Project. ...
... For the remainder of the announcement:
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