Gold Road Miss Guidance Due to Mill Problems

Gold Road Resources Limited ASX: GOR)

Reported that, due to disruptions to processing plant operations at the Gruyere Gold Mine, production for the June 2021 quarter will be approximately 52,000 to 55,000 ounces (100% basis).

As a consequence of the lower than expected gold production, and additional plant maintenance, AISC per ounce for the June 2021 quarter are anticipated to be in a range of A$1,675 to A$1,800. Continue reading

Fiore Gold report high grade gold at Gold Rock


Reported additional results from recent core drilling at its Gold Rock project in Nevada.

The core drilling program is designed to supplement the larger reverse circulation program, giving a more detailed look at the subsurface geology and structure while providing more complete and representative samples for assaying and other test work. Continue reading

Mining Review – Sunday Update 27th June 2021

Mining Review – Sunday Update 27th June 2021

Another poor week for gold, precious, and industrial metals, as US dollar strength and the prospect of increased interest rates (no matter how distant in the future).

Stocks have reacted accordingly, with even undervalued companies at the asset level such as Colonial Coal ($CAD) suffering. We are, of course, in the midst of the summer doldrums in the UK and Canada, and Australian tax loss selling. Continue reading

Minera Alamos Santana Mine Update

Minera Alamos Inc.  (TSX.V: MAI)

Provided an update on the start-up of mining operations at the Santana gold mine, Sonora, Mexico.

All construction has now been completed with the full leach pad now lined and available for stacking.   First loading of mined material from the Nicho Norte pit commenced earlier this month in preparation for the commissioning of leach operations around the end of the June. Continue reading

Roxgold Drills High Grade Gold at Séguéla

Roxgold Inc.  (TSX: ROXG)

Announced initial drill results from the newly discovered Gabbro North prospect, further results from step-out and in-fill drilling at the recently discovered Sunbird deposit, and additional high-grade results from the depth extension drilling at the high grade Koula deposit, at the Séguéla Gold Project located in the Ivory Coast. Continue reading

Mining Review Sunday Update 19th June 2021

Mining Review Sunday Update 19th June 2021

Gold took a hard tumble for the flimsiest of reasons, the possibility of two US interest rate increases in two years time!

It really does illustrate perfectly the lunacy of the current financial markets.

China released copper and iron ore from their strategic reserve to try and curb speculation, with little to no effect thus far. Continue reading

Karora Resources – Initiating coverage

Karora Resources (TSX: KRR)  Initiating coverage 

City Investors Circle is initiating coverage of Karora Resources, a Canadian listed gold production and exploration company, located near Kalgoorlie in Western Australia.

Karora are a great fit with our ethos of investing in companies that are in production and growing organically, are cashflow positive, and are continuing to bring new deposits online from their cashflow, rather than dilution. Continue reading

Red River Resources Royalty Dispute Update

Red River Resources (ASX: RVR)

Provided an update on legal proceedings against its wholly-owned subsidiary Cromarty Resources Pty Ltd (Cromarty) and Red River, relating to the payment of royalties.

Red River has received judgement in the Proceedings and the initial estimated range is approximately $15 to $20 million in total for unpaid and future royalties. Continue reading

Mining Conference Zoom Meetings Overwhelming

City Investors Circle – Mining Conference Zoom meeting invites

As a keen investor in the mining sector, for over 20 years, I love attending mining conferences, all over the world, meeting new people, and hearing about potential projects to invest in.

Covid put paid to attending in person, but opened up a new opportunity, attending remotely (virtually) utilising Zoom meetings. This worked well for a while, but recently I have found I have been overwhelmed by meeting requests. Continue reading

Mining Review – Sunday Update 13th June 2021

Mining Review – Sunday Update 13th June 2021

Gold fell at the end of the week due to a rising US dollar, despite US inflation coming in higher than expected.

The eyes of the mining world have been focused on the Peruvian election this week, where a pro-mining right wing candidate is trailing the anti mining left wing candidate by a wafer thin margin. Fraud allegations look like dragging this out for a while. Continue reading