Mining Review 26th May 2024
Gold Road Resources is the subject of some bid rumour speculation in Australia, with Gruyere JV partner Gold Fields’ name being mentioned amongst others.
Aris Mining now owns 51% of Soto Norte in Colombia, Impact Minerals reported they are financed to complete the Lake Hope pre-feasability study, and West Red lake Gold Mines reported more decent gold intercepts.
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Impact Minerals – Lake Hope HPA project
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City Investors Circle Mining Review 26th May 2024
Another week on the roller coaster ride that constitutes the markets these days, with precious metals taking a fall after their recent strong run, once again because of doubts of any US rate cuts this year, and even the odd rumour that rates may have to rise!
Silver was down nearly 4%, and gold nearly 3% as a result, with platinum and palladium also being hammered. The precious metal ETFs took a real pummelling, down around 4% on average.
Base metals are going in the opposite direction as markets are turning positive about the Chinese economy again, despite plenty of evidence their real estate market is in turmoil and requiring urgent governement support, see HERE.
Iron ore lead the way with a 5% rise, with nickel, copper, and zinc all healthily up.
Where will we be next week I wonder? I’m surprised the Biden camp haven’t tried to force the FED to reduce rates given the forthcoming election and their poor rating in the polls.
Zimbabwe has introduced a gold backed currency, the ZIG, where all the currency issued will be backed by gold reserves.
The IMF have now endorsed the ZIG, see HERE
Gold Road Resources is the subject of some bid rumour speculation in Australia, with Gruyere JV partner Gold Fields name being mentioned amongst others.
West Red Lake Gold Mines reported more decent gold intercepts, and Impact Minerals reported they are financed to complete the Lake Hope pre-feasability study.
I bought a small initial investment in Impact Minerals this week as I’m impressed by the steady progress they’re making as a company, and in particular the Lake Hope HPA project, that really does look exciting, and, if it realises its potential, would be a company maker.
All news from our watchlist companies is below, click on the links to read the full story.
Aris Mining to Increase Ownership of Soto Norte to 51%
Cornish Metals Land Purchase at South Crofty
West Red Lake Gold Mines Intersected 37.33 g/t Au over 2.79m
Neometals Final Stage of ELi™ Pilot Trial Commences
Impact Minerals funded to complete Pre-Feasibility Study at Lake Hope
Gold Road Rose on Potential Bid Target Rumours
Market Data
Weekly price changes
(US$ unless stated)
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| Metal Prices | Price | Weekly % Change |
| Gold price in UK £ | 1835 | -3.52% |
| Gold | 2344 | -2.94% |
| Silver | 30.26 | -3.81% |
| Palladium | 974 | -3.85% |
| Platinum | 1031 | -5.59% |
| Rhodium | 4725 | 0.53% |
| Copper | 4.74 | 1.28% |
| Nickel | 8.98 | 2.39% |
| Zinc | 1.37 | 3.01% |
| Tin | 15.01 | -1.57% |
| Cobalt | 12.11 | -2.73% |
| Manganese | 5.36 | -0.37% |
| Lithium | 14287 | -0.24% |
| Uranium | 92.2 | 1.65% |
| Iron Ore | 123.2 | 5.84% |
| Coking Coal | 326 | 0.00% |
| Thermal coal | 140 | -0.71% |
| Metal ETFs | ||
| GLD | 215.92 | -3.43% |
| GDX | 35.26 | -4.37% |
| GDXJ | 44.6 | -3.78% |
| Sil | 34.39 | -2.38% |
| SILJ | 12.29 | -3.53% |
| GOEX (PCX) | 28.92 | -5.06% |
| URA | 32 | -1.99% |
| COPX | 48.66 | -5.83% |
| HUI | 276.16 | -3.73% |
| Gold / Silver ratio | 77.46 | 0.91% |
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.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
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This website is not sponsored, we are truly independent, and will always remain so.
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.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
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