Mining Review 14th January 2024
Calibre Mining reported record gold production of 283,494 ounces, from their operating mines in Nicarague and Nevada. This year will see the finish of the construction of the new Valentine mine, and $25,000,000 spent on additional exploration across their projects.
Calidus, Lefroy Exploration, and Ascot Resources all reported high-grade drill interecepts.
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Lefroy Exploration project map
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City Investors Circle Mining Review 14th January 2024
A few recent fundraises have highlighted the difficulty in early stage juniors raising capital in the current markets.
Funnily enough a couple of them have been around for quite some time without achieving anything for their shareholders. Orex and Scorpion Gold have both raised less than they were looking for, with Scorpion pushing out the closing date in an affort to try and find more funds.
Panther Metals in London have also recently failed to raise what they set out to, and, despite them saying they cut back the loan notes as the costs of the drilling programme “came in below budget“, I take that statement with a huge sack of salt.
I cannot remember a company ever achieving a 50%! saving on a drill program.
As I have been warning for well over a year now, early stage juniors relying on constant fundraises to carry out more drilling are in a difficult place right now, and I have cut my exposure to thse type of stocks to the bare minimum where the project looks so good I don’t want to be out despite the dilution risks.
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Calibre Mining reported record gold production of 283,494 ounces, from their operating mines in Nicaragua and Nevada. This year will see the finish of the construction of the new Valentine mine, and $25,000,000 spent on exploration.
Calibre are looking to become a 500,000 Oz gold PA mid-tier producer in 2025, and have excellent exploration projects in Nicaragua and Nevada to increase output further in the mid term.
Calidus Resources, Lefroy Exploration, and Ascot Resources all reported high-grade drill interecepts.
Archives
News from companies on our watchlists is listed below, click on the link to be taken to the full story.
Calibre Mining Delivered Record Gold Production of 283,494 Ounces
Lefroy Exploration Assay Results Confirm High Grade Nickel at Goodyear
Neometals Announced a Mercedes Benz Purchase Order
Calidus Resources Reported High-Grade results at Bulletin
Cabral Gold New Year Message from the CEO
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Market Data
Weekly Price Changes
(US$ unless stated)
Metal Prices
| Gold price in UK £ | 1608 | 0.00% |
| Gold | 2049 | 0.05% |
| Silver | 23.2 | -0.17% |
| Palladium | 978 | -5.05% |
| Platinum | 914.77 | -5.40% |
| Rhodium | 4500 | 2.27% |
| Copper | 3.78 | -0.53% |
| Nickel | 7.37 | 1.52% |
| Zinc | 1.14 | -0.87% |
| Tin | 11.01 | -2.48% |
| Cobalt | 12.91 | 0.08% |
| Manganese | 2.84 | 5.58% |
| Lithium | 12077 | -0.07% |
| Uranium | 92.5 | 1.65% |
| Iron Ore | 134.2 | -4.82% |
| Coking Coal | 317 | 0.00% |
| Thermal coal | 126.5 | -2.69% |
| Magnesium | 2967 | -0.60% |
| Metal ETFs | ||
| GDX | 29.7 | -0.24% |
| GDXJ | 36.36 | 1.06% |
| Sil | 26.96 | -0.11% |
| SILJ | 9.57 | 0.63% |
| GOEX (PCX) | 24.15 | 0.71% |
| GLD | 189.71 | 0.19% |
| COPX | 36.86 | -0.05% |
| Miscellaneous Data | ||
| 2 yr T bond US2Y | 4.15 | -5.47% |
| US index (DXY) | 102.44 | 0.00% |
| HUI | 233.22 | 0.10% |
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 Ascot Resources, Calidus resources, and Lefroy Exploration.
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