Mining Review 10th March 2024
The big news fo the week is the Admission by Karora Resources that they are in discussions with Ramelius Resources in regard to a business combination.
PDAC 2024 was a dull affair with a lot of early stage companies looking for finance.
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City Investors Circle Mining Review 10th March 2024
The big news fo the week is the Admission by Karora Resources that they are in discussions with Ramelius Resources in regard to a business combination.
The only other news worthy of note during the week was Orla Mining’s release where they have discovered gold mineralisation outside the pit shell at South Railroad in Nevada.
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I travelled to Canada for two mining conferences so company news reporting is at a bare minimum this week, and I will catch up with all significant news from companies on our watchlists next week.
Last Saturday I attended the Metals Investment forum at the usual venue of the Delta Hotel, Toronto.
This conference combines a series of newsletter writers who bring a “selection” (I.E. Those companies that will pay the fee) of their covered companies.
This year was particularly poor in my opinion, with almost all participants being early stage companies, and I completed the walk around in an hour, with only one small company being of mild interest.
The newsletter writers each have a segment where they speak first, then introduce their “selected” companies, who each present for around 15 to 20 minutes each. The newsletter writers’ keynote presentations are full of market data and well worth listening to.
I notice they have added desks in front of the seats at the front half of the room, to reduce the capacity, an old conference trick to make the room look fuller!
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PDAC 2024 was a dull affair with a lot of early stage companies looking for finance.
This year I was only staying from Sunday to Tuesday afternoon, as Wednesday is a waste of time really, an early start with empty booths after the revelry of the night before, combined with a midday finish where bootholders are just thinking about going home.
In all honesty I found so few companies of interest I could have flown home on Monday evening, it was the poorest I can remember, and I’ve been to around 20 PDACs now!
One thing I find very frustrating is that many CEOs are rarely at their booths, and I am always being told they’re at “meetings”, when in reality many will be in the bar or a restaurant.
Nothing wrong in that of course, but it means you constantly have to circle back to their booths to try and see them, often without success, and that results in some very tired legs and feet.
What I think PDAC should do is have a defined time when all CEOs will be at their booths, say Sunday morning, or display some times on a board at their booths giving a time each day when they will be present.
I will probably not attend PDAC next year, preferring the warmth of Cape Town in January instead, where at least there are some development companies present, including a lot of ASX listed miners, rather than greenfield early stage explorers, virtually all Canadian.
News from our watchlist companies and my conference reviews can be found by clicking the links below.
Orla Mining Drills Oxide Mineralization Outside Projected Open Pits
Karora Resources Responds To Media Speculation
Impact Minerals Announce HPA Processing Breakthrough
Metals Investor Forum Toronto Review
Mining Review for February 2024
Market Data
Weekly Price changes
(US$ unless stated)
Metal Prices
| Gold price in UK £ | 1695 | 2.85% |
| Gold | 2179 | 4.61% |
| Silver | 24.3 | 5.01% |
| Palladium | 1020 | 7.14% |
| Platinum | 913 | 3.05% |
| Rhodium | 4500 | 2.27% |
| Copper | 3.89 | 2.10% |
| Nickel | 7.92 | 0.13% |
| Zinc | 1.11 | 2.78% |
| Tin | 12.26 | 2.59% |
| Cobalt | 12.69 | 0.08% |
| Manganese | 3.01 | 2.38% |
| Lithium | 14112 | 5.27% |
| Uranium | 91.3 | -3.03% |
| Iron Ore | 117.4 | 1.38% |
| Coking Coal | 300 | -1.96% |
| Thermal coal | 137.8 | 4.00% |
| Magnesium | 2706 | -5.02% |
Metal ETFs |
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| GDX | 29.64 | 8.45% |
| GDXJ | 35.93 | 8.09% |
| Sil | 25.39 | 6.86% |
| SILJ | 9.08 | 9.40% |
| GOEX (PCX) | 24.58 | 9.05% |
| GLD | 201.63 | 4.53% |
| URA | 28.06 | -0.81% |
| COPX | 38.04 | 4.36% |
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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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