Mining Review 16th October 2022
An horrific week for precious metals with gold down 3.2%, silver a whopping 9.49%, and palladium 8.51%.
Karora Resources recorded record production, whereas Calidus Resources and Wesdome Gold disappointed the market and their share prices responded accordingly.
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Calidus Resources new solar and battery farm at the Warrawoona Gold Mine, WA.
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Mining Review weekly Update – 16th October 2022
An horrific week for precious metals with gold down 3.2%, silver a whopping 9.49%, and palladium 8.51%.
The price of lithium has increased to another new all time high, now over $73,000 t.
Kore Mining announced they were issuing new shares at 1 cent each, just over two years since they did a financing at C$1! Eric Sprott took all of the C$7.5 million two years ago, so a 99% loss for him then, proving even the “greats” don’t get it right all of the time!
Looking at the companies we follow
Karora Resources recorded record production, whereas Calidus Resources and Wesdome Gold disappointed the market, and their share prices responded accordingly.
Uranium Energy Corp. confirmed they had entered into agreement with Rio Tinto regarding the Roughrider uranium project.
Uranium Energy and Rio Tinto enter into a Transaction
Newcore Gold Announce Positive Drill Results
Karora Resources Recorded record Gold Production
Maple Gold Started Phase 3 Drilling at Eagle
Calidus Resources Q3 Results Disappoint
Gold Road Resources Production Update
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Market data
Week on week price changes
(US$ unless stated)
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Metal prices
| Gold price in UK £ | 1470 | -3.86% |
| Gold | 1641 | -3.19% |
| Silver | 18.22 | -9.49% |
| Palladium | 2000 | -8.51% |
| Platinum | 906 | -0.98% |
| Rhodium | 13890 | -0.71% |
| Copper | 3.48 | -0.85% |
| Nickel | 9.94 | -1.97% |
| Zinc | 1.34 | -4.29% |
| Tin | 9.13 | -0.65% |
| Cobalt | 23.25 | -0.04% |
| Manganese | 3.12 | 0.00% |
| Lithium | 73017 | 5.07% |
| Uranium | 50.2 | 2.14% |
| Iron Ore | 91.8 | -2.75% |
| Coking Coal | 293 | 4.27% |
| Thermal coal | 396 | -2.46% |
| Magnesium | 3657 | 0.47% |
| Lumber | 492 | 11.06% |
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Metal ETFs
| GDX | 22.72 | -6.85% |
| GDXJ | 27.75 | -7.59% |
| Sil | 23.5 | -5.89% |
| SILJ | 8.9 | -6.61% |
| GOEX (PCX) | 19.49 | -7.54% |
| GLD | 152.98 | -3.10% |
| COPX | 28.04 | -2.50% |
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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.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
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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 no shares in Calidus Resources, Gold Road Resources, Karora Resources, and Newcore Gold, all bought in the market at the prevailing price on the days of purchase.
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