Mining Review 10th November 2024

Westgold had a high-grade gold hit during drilling at Bluebird South. West Red Lake gave a positive mine restart update.

Gold and the precious metals slipped back slightly after the US election result which was seen as positive for the US dollar.

 

 

City Investors Circle Mining Review 10th November 2024

 

The week was dominated by the US election, and the election of Donald Trump was seen as positive for the dollar, and the precious metals sold off a little in reponse. A strong dollar reduces the price of imported goods, and thus lowers inflation.

Gold and the precious metals slipped back slightly after the US election result which was seen as positive for the US dollar.

By the end of the week gold had moved back again showing how resilient it’s becoming to news that would normally sink the price. Central bank buying may be the reson for that of course.

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Last week was a quiet week newswise for our watchlist companies, yet there were some positive releases.

Westgold had a high-grade gold hit during drilling at Bluebird South.

West Red Lake Gold Mines gave a positive mine restart update for their Madsen gold mine in Ontario. This is the former Pure Gold (AIM and TSX) property that was bought out of administration for a song by WRLG after a poor mine startup left the former owners out of funds despite a decent gold price at the time.

WRLG are looking to commence production next year, and claim to have identified a better plan to make it work this time.

Colonial Coal were picked as a stock to follow by Simply Wall St. research house.

All the news from the last week is listed below, click on the lonk to be taken to the full story.

Archives

Metal Prices	Price	Weekly % change
Gold price in UK £	2078	-0.19%
Gold	2685	-0.47%
Silver	31.33	-3.68%
Palladium	992	-7.10%
Platinum	982	-3.29%
Rhodium	4675	-1.58%
Copper	4.26	0.23%
Nickel	7.37	-3.16%
Zinc	1.38	-4.08%
Tin	14.33	-0.14%
Cobalt	10.9	0.09%
Manganese	3	-0.34%
Lithium	10190	1.45%
Uranium	76.6	-2.69%
Iron Ore	102.4	0.39%
Coking Coal	207.5	2.25%
Thermal coal	142.2	0.00%
Metal ETFs	Price	Weekly % change
GLD	247.96	-0.34%
GDX	39.02	-4.11%
GDXJ	49.52	-3.84%
Sil	37.62	-5.71%
SILJ	13.17	-5.92%
GOEX  (PCX)	33.03	-4.01%
URA	31	-3.17%
COPX	44.12	-1.71%
HUI	311.99	-4.37%
Gold / Silver ratio	85.70	-3.20%

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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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