Mining News – Sunday Roundup 20 Sept.
Argentina has introduced capital controls, so if you hold any mining stock with a project in the country, you need to be aware of this new development, and the danger it poses for companies operating there.
Copper is trading at its highest level since 2018, and iron ore has fallen 6% as supply increases from Brazil and Australia.
Gold and silver prices have become rangebound, and so have some of the companies that we follow. We await a catalyst to drive prices higher again.
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Mining News – Sunday Roundup 20 Sept.
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PDAC 2021 has been cancelled, and replaced with a virtual show. This decision has been taken early, and is a brave one, but necessary, as people tend to book flights and accommodation early due to hotel space being very limited.
Argentina has introduced some currency controls, which limits companies present in the country from servicing their external debts, so if you hold any stock with a project in the country, you need to be aware of this new development, and the danger it poses for companies operating there.
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Gold and silver prices have become range bound, and so have some of the companies that we follow. We await a catalyst to drive prices higher again.
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Two of the stocks on our watchlist, Wesdome and Orla Mining, have been included in the 2020 TSX30 – a programme that showcases the TSX’s 30 top-performing stocks that represent sustained excellence over the long term. Mining companies represent 14, or nearly half, of the TSX30, which ranks stocks based on dividend-adjusted share price appreciation over a three-year period.
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Stocks on out watchlist.
Fosterville South (TSX: FSX) produced good drill intercepts from their program at Golden Mountain, see HERE. Fosterville are now going to drill on their Lauriston project, which abuts Kirkland lake Gold’s Fosterville project, one of the lowest cost producers and profitable mines in the world.
Ascot Resources (TSX: AOT) made a high grade discovery at the “Day zone”, on their Premier Gold project in the ‘Golden Triangle’ area of B.C. HERE
Bardoc Gold (ASX: BDC) embarked on a 40,000 m drill program at their Bardoc Gold project in Western Australia. Minera Alamos (TSX.V: MAI) outlined additional old drill data from their Cerro de Oro project in north Mexico. Cabral Gold (TSX.V: CBR) reached an all time high and forced to announce they know of no reason for the recent run up in the shareprice. A market cap of C$62 million looks too high to me.
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Precious Metals
Gold nudged higher week on week, whereas silver remained level, as both metals await a catalyst such as US$ movement to determine their own direction.
Ronald-Peter Stoeferle, managing partner of Incrementum Gold Fund said that “it is only a matter of time before prices push higher, all signs indicate that gold is currently in a stealth bull market.”.
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| Gold | 1950 ↑ |
| Silver | 26.81 – |
| Palladium | 2345 ↓ |
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Base Metals
Copper reached its highest price for over two years on renewed optimism due to Chinese stimulus spending, and lower inventories. The Chinese are in fact building large stocks of some critical hard and soft commodities, and copper supply will remain tight whilst they are doing this.
Iron ore lost 5% week on week as stocks are now reasonably high, and supply from Brazil and Australia is now increasing.
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| Copper | 3.09 ↑ |
| Nickel | 6.70 ↑ |
| Zinc | 1.14 ↑ |
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City Investors Circle is based in the financial district of the City of London.
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We present selected interesting and exciting junior mining companies listed on the ASX, TSX, and TSX Venture exchanges, to a group of city professionals, brokers, HNWI’s, and private investors, all of whom are active investors, with a mandate to invest in junior mining companies.
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Our audience is selected and individually invited, to ensure interest and relevance.
Meetings are small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
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We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our monthly newsletter.
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If you wish to present to our select group of active mining investors, please email: andrew@city-investors-circle.com for information.
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