Mining Review 12th February
Gold fell back again for the third week on the trot.
I-80 Gold, Lefroy Exploration, and Orla Mining made positive news this week.
Mining Review 12th February 2023
City Investors Circle Mining Review 12th February
Gold fell back again for the third week on the trot, in a generally poor week for both the precious and industrial metals.
Silver, palladium, and platinum are all falling heavily, continuing a poor run over the last month.
Other heavy fallers are thermal coal, down 20% in a week and over 42% in a month, and cobalt, 6.72% in a week and 20.8% in a month.
I attended Indaba and the 121 Mining Forum in Cape Town, which is always a pleasure to attend due to its informality, imposed by the lovely weather, only the brave wear ties after the first hour or so!
Indaba was a formal mining trade show in an air conditioned building, with fortress style security outside ensuring the safety of those within. There were very few junior mining companies inside, but I didn’t stay long as there was little of interest to an investor.
I found one from the UK I was not even aware of, listed in London and actually mining gold in Nigeria! Thor Explorations (poor name for a producer) are in fact Nigeria’s only producing gold mine. Prima Facie it looks like a good company but clearly they aren’t promoting themselves yet.
Companies on our watchlist making news this week
I-80 Gold, Lefroy Exploration, and Orla Mining made positive news this week, in a curtailed week due to my conference attendance in Cape Town.
i-80 Gold announced a $50 million debenture raise, now increased to $65 million, and then released some good drill results.
Lefroy Exploration Announced New Drill Results
I-80 Gold Intersected 12.3 G/T AU Over 10.7 m
Cape Town Conferences 2023 – Final Thoughts
i-80 Gold Corp. Raised $50 million in Convertible Debentures
Cape Town 2023 – Conferences Are Busy
Mining Review 5th February 2023
Read more: http://www.city-investors-circle.com/archives/#ixzz7tBtouT2i
Weekly Price Movements
(US$ unless stated)
|Gold price in UK £||1546||-0.13%|
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