Mining Review 14th May 2023
Karora Resources is following ASX listed Calidus Resources by proposing an unlocking of its lithium assets, to create a newco to list on the ASX in due course.
Gold is still oscillating around the $2,000 level. Lithium was up 16% week on week, is this the start of its price recovery?
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Mining Review 14th May 2023
Karora Resources is following ASX listed Calidus Resources in proposing an unlocking of lithium assets, to create a newco to list on the ASX in due course.
Gold is still oscillating around the $2,000 level.
Yet another quite mining conference in London last week, this time the 121 Conference now located in the (awkward to reach) Houndsditch ETC Venue, was 120 delegates down on the previous year according to people there.
Whist this is hearsay, it certainly felt quiet to me, remove the sponsors and how many people are left? I walked around and there were may booths where people were sitting reading their phones rather than actually in meetings, some booths were empty for some time as I walked around hoping to catch a quick word rathe rthan have a full blown half hour meeting.
Clearly investors are not ezcited at the moment, $2,000 gold should surely move the market upwards, bringing investors back in, yet it doesn’t, and I’m not sure why?
Maybe some have been hurt so badly in the fall they can;t get interested in the sector, and are avoiding it. It that’s the case we will have to wait for the next generation to come along and get interested, and that could take a long time.
Many conferences seem full of service providers looking for commercial opportunities, rather than investors looking for new stories to investment in.
I think one of the problems is the same companies seem to be on a worldwide circuit of promotion, and it’s become repetitive. What I look for are new companies with interesting stories, and they are few and far between on the ‘circuit’.
Orla Mining Reported Strong Q1 Results
Siren Gold increased resources to 1.2 Moz
Cartier Resoources closed Its CAD$204,000 Financing
Goldshore Updates Inferred MRE to 6 M oz
Karora Resources to unlock its Lithium assets
Silver Tiger Intersected 6.3 M of 1,581.4 g/t Silver Eq
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Market Data
Price Changes week on week
(US$ unless stated)
Metal prices
| Gold price in UK £ | 1616 | +1.06% |
| Gold | 2011 | -0.25% |
| Silver | 23.98 | -6.55% |
| Palladium | 1511 | +1.14% |
| Platinum | 1055 | -0.57% |
| Rhodium | 7500 | -4.46% |
| Copper | 3.75 | -3.10% |
| Nickel | 10.09 | -11.41% |
| Zinc | 1.17 | -0.85% |
| Tin | 11.83 | -3.43% |
| Cobalt | 15.53 | -0.06% |
| Manganese | 3.08 | -5.23% |
| Lithium | 27294 | +16.84% |
| Uranium | 53.4 | -0.56% |
| Iron Ore | 98.5 | -5.20% |
| Coking Coal | 245 | 0.00% |
| Thermal coal | 160 | -11.60% |
| Magnesium | 3959 | +2.56% |
Read more: http://www.city-investors-circle.com/archives/#ixzz81gBFHWOp
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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
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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.
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Disclosure
At the time of writing the author holds shares in Goldshore, Karora Resources, and iren Gold
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