Mining Review 10th December 2023
Gold has retreated from the new all time high around $2,170, and is currently trading under $2,000 again, as rate cut anticipation wains after some stronger then expected US employment numbers.
Companies in the news this week included West Red Lake Gold Mines, and I sold Argosy Minerals and Minera Alamos from my personal portfolio.
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Cornish Metals’ South Crofty mine and new construction seen from the builder’s merchants next door.
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City Investors Circle Mining Review 10th December 2023
Gold has retreated from the new all time high around $2,170, and is currently trading under $2,000 again, as rate cut anticipation wains after some stronger then expected US employment numbers.
The FED are now making more hawkish noises and rate cuts may not occur as soon as the market was anticipating. This has lead to gold and other commodities falling back as the US $ rose and Bitcoin is soaring.
Companies in the news this week included West Red Lake Gold Mines, which has just been on a promotional tour of Europe, and clearly that has generated some buying.
I sold Argosy Minerals and Minera Alamos from my personal portfolio, as both companies have disappointed me and feel I can see better opportunities elsewhere.
One stock I am intending to purchase is G Mining Ventures, due to management’s experience and past achievements, and the project itself under construction in Brazil, a tier 1 jurisdiction.
Anyone considering buying the stock should look at management’s past achievements, which have been spectacular in an industry where costs nearly always overrun, and time frames need to be flexible.
News from companies in our watchlisr are listed below, please click the link to read the whole story.
Archives
Global Mining Finance Conference Videos Loaded
Cornish Metals Dewatering The South Crofty Mine Ahead of Schedule
West Red Lake Gold Mines Intersected 47.44 g/t Au over 3.2m
Sold Argosy Resources as the Lithium Price Continues to Fall
Mining Review Sunday 3rd December
City Investors Circle Market Review for November 2023 Published
Market Data
Weekly Price changes
(US$ unless stated)
Metal Prices
| Gold price in UK £ | 1594 | -2.27% |
| Gold | 1998 | -3.57% |
| Silver | 23.05 | -9.54% |
| Palladium | 950 | -5.19% |
| Platinum | 921 | -2.44% |
| Rhodium | 4400 | 0.00% |
| Copper | 3.73 | 37.13% |
| Nickel | 7.25 | -2.16% |
| Zinc | 1.09 | -2.68% |
| Tin | 11.07 | 6.54% |
| Cobalt | 14.86 | 0.00% |
| Manganese | 2.69 | -7.24% |
| Lithium | 12640 | -13.61% |
| Uranium | 81.25 | 0.31% |
| Iron Ore | 134.7 | 3.22% |
| Coking Coal | 322 | 0.00% |
| Thermal coal | 149 | 11.78% |
| Magnesium | 3042 | -1.52% |
| Metal ETFs | ||
| GDX | 29.61 | -6.92% |
| GDXJ | 36.36 | -7.81% |
| Sil | 26.62 | -6.04% |
| SILJ | 9.4 | -6.75% |
| GOEX (PCX) | 24.13 | -8.11% |
| GLD | 185.47 | -3.41% |
| COPX | 35.33 | -1.53% |
| au / ag ratio | 83.47 | -1.29% |
| 10 yr Tbond (TNX) | 4.23 | 0.09% |
| 2 yr T bond US2Y | 4.72 | 3.71% |
| US index (DXY) | 104 | 0.78% |
| HUI | 229.09 | -6.57% |
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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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.
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.
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 Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
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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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Disclosure
At the time of writing the author no holds shares in companies mentioned in this report.
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