Mining Review 15th January 2023
The big news this week is the rise in the copper and gold prices, 8.16% and 2.89% respectively.
Calidus Resources, Gold Road Resources, Karora Resources, Neometals, UEC, and Westhaven Gold all reported positive news this week.
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Calidus Resources Warrawoona mine
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Mining Review 15th January 2023
The big news this week is the rise in the copper and gold prices, 8.16% and 2.89% respectively. Zinc and tin also rose strongly as market sentiment improved as China announced government support for the housing sector.
And it’s just been announced that the Chinese government have bought 100 tons of gold recently, or 320,000 ounces, worth $608 million.
In other news the government of Panama and First Quantum minerals are still at loggerheads over the deal to allow the continuation of copper mining at El Cobre, see here, and here.
I still think it’ll end in a score draw, neither side can afford to lose financially, so a compromise will eventually be reached, in my opinion.
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Companies on our watchlist in the news last week
Calidus Resources, Gold Road Resources, Karora Resources, and Westhaven Gold all reported positive news this week.
Calidus Resources confirmed commercial production for their Warrawoona Gold Mine in Western Australia.
Gold Road confirmed that they would finish the year according to production guidance.
Karora Resources announced record annual gold production for their mine in WA, and seem firmly back on track after their wobble as covid ravaged their workforce after WA unlocked.
Westhaven drilled an excellent 5.66m of 6.83 gpt Au, at their project near Merritt, B.C.
Full details can be found by clicking the links below:
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Karora Resources Announced Record Annual Gold Production
Gold Road Resources Confirmed Production Guidance
Westhaven Drilled 5.66 M of 6.83 g/t Gold
Calidus Resources Declared Commercial Production at Warrawoona
UEC to Supply US Department of Energy
Neometals’ Primobius JV Stelco Update
Mining Review 8th January 2023
Read more news here
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Market Data
Weekly Price Changes
(US$ unless otherwise stated)
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Metal prices
| Gold price in UK £ | 1570 | 1.75% |
| Gold | 1920 | 2.89% |
| Silver | 24.28 | 1.85% |
| Palladium | 1797 | 4.90% |
| Platinum | 1073 | -1.29% |
| Rhodium | 12200 | -0.33% |
| Copper | 4.11 | 7.59% |
| Nickel | 12.01 | -7.97% |
| Zinc | 1.46 | 5.80% |
| Tin | 12.46 | 9.39% |
| Cobalt | 21.92 | -2.88% |
| Manganese | 3.59 | 7.16% |
| Lithium | 66540 | -0.23% |
| Uranium | 50.35 | 3.18% |
| Iron Ore | 121.3 | 4.03% |
| Coking Coal | 298 | -2.30% |
| Thermal coal | 334 | -9.97% |
| Magnesium | 3454 | 2.92% |
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Metal ETF Prices
| GDX | 32.665 | 3.50% |
| GDXJ | 40.4 | 2.33% |
| Sil | 31.24 | 3.03% |
| SILJ | 11.71 | 3.08% |
| GOEX (PCX) | 28.26 | 2.54% |
| GLD | 178.76 | 2.91% |
| COPX | 41.07 | 7.06% |
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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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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 Calidus Resources, Gold Road Resources, and Karora Resources, all mentioned above.
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