Mining Review 11th January 2026
We make some adjustments in our watchlists, with three new entrants in the exploration category, and two Tier 2 companies exiting due to poor performance.
Gold and silver remain strong as silver registers a new nominal all-time high.
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Mogotes Metals Filo Sur vista – Credits Mogotes Metals
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City Investors Circle Mining Review 11th January 2026
Pacgold announced the commencement of production operations at its newly acquired White Dam project in South Australia.
G2 Goldfields and Lefroy Exploration both announced good drill intersections for gold.
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Gold and silver remain strong as silver registers a new nominal all-time high price around $80.
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We are making some additions to to our watchlists in the exploration tier 4 stage, and deleting a couple of companies from our tier 2 watchlist, please see the changes below.
The new entrants are early stage projects with scale potential, and proven management teams.
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In
Fuerte Metals (FMT.V) Coffee Gold Project in the Yukon
Lahontan Gold (LH.V) Restarting the Santa Fe gold mine in Nevada.
Mogotes Metals (MOG.V Filo Sur project abuts the Filo Del Sur copper project.
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Fuerte Metals has acquired the Coffee Gold Project in the Yukon from Newmont, who has spent over $300 million in prior investment. The company also has two advanced exploration projects in Mexico, and an early stage one in Chile.
Lahontan is restarting the old producing Santa Fe gold mine in Nevada. CEO Kimberley Anne is very experienced and driven to restart production rather than be acquired.
Mogotes Metals has huge potential as its Filo Sur copper / gold / silver project which abuts the Filo Del Sur project acquired by BHP / Lundin for C$4.5 billion when metal prices were much lower.
The company has just raised substantial funds for a large drilling campaign. Positive news from that would surely bring out the deep pocketed suitors?
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Out
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Both these companies are not performing as per my expectations.
Magnetic is waiting to be acquired, but how much longer will it take? The share price is flat lining in a range whilst other gold projects in the region are performing with the rising price of gold.
Minera Alamos has disappointed over an extended period, and the purchase of the Pan gold mine in Nevada looks more like an act of desperation to buy production after the disappointment of their projects in Mexico in my opinion.
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News from our other tier 1 and 2 watchlist companies is pasted below, click on the link to be taken to the full story.Archives
Watchlist Adjustments January 2026
Lefroy Exploration Intersected High-Grade Gold at Burns
Pacgold’s Imminent Gold Production from The White Dam Project
G2 Goldfields Drilling Expands OKO High-Grade Gold Resource
Mogotes Metals Financing and Carmel Daniele Joins the Board
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| Metal Prices | 110126 | Weekly % change |
| Gold price in UK £ | 3369 | 4.34% |
| Gold in AUD$ | 6744 | 2.18% |
| Gold | 4511 | 4.11% |
| Silver | 80 | 9.68% |
| Palladium | 1870 | 10.00% |
| Platinum | 2278 | 5.37% |
| Rhodium | 9450 | 13.86% |
| Copper | 5.9 | 3.69% |
| Nickel | 8.34 | 10.76% |
| Zinc | 1.47 | 5.00% |
| Tin | 19.84 | 1.3% |
| Cobalt | 25.5 | 6.25% |
| Lithium | 17000 | 2.97% |
| Uranium | 82 | 0.74% |
| Iron Ore | 109 | 4.41% |
| Coking Coal | 223 | 5.44% |
| Thermal coal | 106 | 0.47% |
| Metal ETFs | ||
| GLD | 414 | 3.95% |
| GDX | 92.56 | 7.97% |
| GDXJ | 122 | 7.77% |
| Sil | 90 | 8.42% |
| SILJ | 31 | 12.93% |
| GOEX (PCX) | 87 | 8.83% |
| URA | 50.3 | 9.21% |
| COPX | 78 | 6.76% |
| HUI | 763 | 8.84% |
| Gold / Silver ratio | 56.39 | -5.08% |
| 10 yr Tbond (TNX) | 4.171 | -0.22% |
| 2 yr T bond US2Y | 3.54 | 1.72% |
| US index (DXY) | 99.14 | 0.72% |
Click HERE for live Spot Metal Prices
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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.
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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Disclosure
At the time of writing the author holds shares in some of the companies mentioned.
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