Mining Review – Sunday Roundup 18th October
Something strange happened in the mining world this week, a real life mining conference took place!
The Diggers and Dealers show in Kalgoorlie, Western Australia went ahead due to the very low prevalence of covid cases in WA. Attendance was around 20% lower, due to international travel restrictions.
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Mining Review – Sunday Roundup 18th October
Something strange happened in the mining world this week, a real life mining conference took place!
The Diggers and Dealers show in Kalgoorlie, Western Australia went ahead due to the very low prevalence of covid cases in WA. Attendance was around 20% lower, due to international travel restrictions.
A poor week for the precious metals, as Gold, silver, and Palladium all fell. The former due to US stimulus conflicting stories and uncertainty, and the latter due to less combustion energy powered vehicles being manufactured.
Base metals fared a little better, with copper up on Chinese stimulus hopes, nickel up on EV battery future demand estimations. Iron ore and coking coal performed poorly, due to a more plentiful supply of iron being available, and an anticipated fall in Chinese steel production causing demand for coking coal to temporarily fall.
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Stocks on our watchlist
Colonial Coal (TSX.V: CAD) continued its strong rise to reach a 7 year high of 89 cents, as anticipation of a potential buyout deal rises. The deteriorating relations between Australia and China have resulted in China refusing coking coal exported from Australia, making Canadian sourced coal more attractive.
Fosterville South (TSX.V: FSX) received permission to drill from an additional 15 drill pads at their Golden Mountain Project.
Ascot Resources (TSX. AOT) announced they have ordered long lead items, namely Ball and SAG mills for their new Premier Gold Mine in British Columbia’s Golden Triangle. The stock fell back slightly.
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Precious Metals
A poor week all round, and a feeling that the US dollar index may climb next, which could be poor for gold and silver if that’s the case. US stimulus news will directly effect the price of gold.
| Gold | 1899 | ⇓ |
| Silver | 24.13 | ⇓ |
| Palladium | 2337 | ⇓ |
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Base Metals
The bellwethers, copper and nickel, both rose on Chinese stimulus demand and EV battery production demand respectively. Most other base metals, and coking coal, fell due to trade war concerns.
| Copper | 3.03 | ⇑ |
| Nickel | 6.96 | ⇑ |
| Zinc | 1.09 | ⇑ |
| Iron Ore | 114 | ⇓ |
| Manganese | 3.41 | ⇓ |
| Coking Coal | 137.5 | ⇓ |
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Precious Metal ETF’s
| GDX | 39.83 | ⇓ |
| GDXJ | 57.67 | ⇓ |
| Sil | 45.52 | ⇓ |
| SILJ | 14.68 | ⇓ |
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City Investors Circle is based in the financial district in the City of London.
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
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Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
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