Mining Review 10th September 2023
Auteco closed the Green Bay Mine acquisition from the former AIM listed Rambler, and immediately spelt out their different approach, with a plan to double resources before recommencing mining.
Eloro and Skeena Resources both brought out new MRE’s in an otherwise quiet week.
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Skeena Resources – Eskay Creek drilling, Golden Triangle, B.C. Canada.
City Investors Circle Mining Update 23rd September 2023
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Mining Review 10th September 2023
Auteco closed the Green Bay Mine acquisition from the former AIM listed Rambler, and immediately spelt out their different approach, with a plan to double resources before recommencing mining.
Eloro Resources and Skeena Resources both brought out new MRE’s in an otherwise quiet week.
Companies on our watchlists in the news this week
The main news this week was from Auteco, who announced the closure of their acquition of the Green Bay Mine, formerly owned by UK listed Rambler, which went into administration recently.
Auteco are taking a different approach to Rambler, and instead of restarting the mine now, which they could do, they are going to have an extensive drill campaign to expand the resource, using as thir model neighbouring mines and the similarity of the geology.
Auteco plan to create significant shareholder value by greatly increasing the resource numbers, before resuming mining in a couple of years time. To read the full news release, please click on the link below.
Cyprium Shareholders approved the SGM motions
Skeena Resources Increased the Snip Gold Resource to 823,000 Oz
Eloro Resources Reported an Inferred MRE of 1.15 Billion Oz Silver Eq
Auteco Closed the Green Bay Mine Deal
Marathon Gold Berry Regulatory Assessment on Track
Westhaven Gold Filed a Technical Report For Shovelnose
Mining Review Sunday 3rd September
A quiet week for most metals, but silver, nickel, and platinum all had hard falls on the week.
Coking coal rose strongly on more positive Chinese economy news.
Market Data
Weekly Price Changes
(US$ unless stated)
Metal Prices
| Gold price in UK £ | 1540 | -0.13% |
| Gold | 1918 | -1.13% |
| Silver | 22.93 | -5.17% |
| Palladium | 1172 | -3.93% |
| Platinum | 895 | -7.20% |
| Rhodium | 4100 | 0.00% |
| Copper | 3.79 | 0.00% |
| Nickel | 9.17 | -6.14% |
| Zinc | 1.09 | 0.00% |
| Tin | 11.33 | 0.00% |
| Cobalt | 14.85 | 0.00% |
| Manganese | 2.79 | 0.36% |
| Lithium | 26196 | -2.68% |
| Uranium | 60.75 | 4.29% |
| Iron Ore | 113.4 | -0.09% |
| Coking Coal | 275 | 5.36% |
| Thermal coal | 160 | 0.00% |
| Magnesium | 3471 | 4.80% |
| Lumber | 500 | -0.60% |
| GDX | 28.34 | -2.58% |
| GDXJ | 34.04 | -4.27% |
| Sil | 24.98 | -4.33% |
| SILJ | 8.98 | -4.87% |
| GOEX (PCX) | 23.33 | -4.35% |
| GLD | 178.08 | -1.13% |
| COPX | 36.67 | -4.26% |
| au / ag ratio | 83.39 | 5.29% |
| 10 yr Tbond (TNX) | 4.258 | 2.04% |
| 2 yr T bond | 4.94 | 1.86% |
| US index (DXY) | 105.06 | 0.77% |
| HUI | 218.96 | -3.00% |
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To read the full news release, please click HERE
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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.
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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 holds shares in Eloro Resources
..Eloro REsources