Mining Review 18th June 2023
A typical week in the summer market doldrums, companies are drilling now so a dearth of explorations news, and we are mainly receiving corporate and financing updates.
Wesdome Gold Mines and Cartier Resources announced positive drilling news.
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Wesdome Gold Mines Kiena Mine, Quebec.
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City Investors Circle Mining Review 18th June 2023
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Mining Review 18th June 2023 – A typical week in the summer market doldrums, companies are mostly drilling now, so there’s a dearth of explorations news, and we are mainly receiving corporate and financing updates.
It’s clear that some companies are struggling to raise funds, WEX.V confirmed a C$4.5 million raise this week, a whole C$1 million short of their original target, as an example.
The London IPO of WE Soda has been cancelled with brokers stating the reason was due to “extreme investor caution.” This was a £6 billion valuation listing, so a significant cancellation.
One wonders whether they will join other companies in seeking a US listing in the future? Companies are drifting away from London due to the higher valuations being ascribed by US based investors, compared tho their UK based peers.
Companies on our watchlists making news this week
Wesdome Gold Mines and Cartier Resources announced positive drilling news, in an otherwise quiet time for news of substance.
News items are listed below, click the links to read the full story.
O3 Mining Announced Corporate Updates
Wesdome Gold Mines Drilling Expands High Grade Zone
Global Mining Finance Conference Autumn Conference Date Confirmed
Cornish Metals Provided a South Crofty Tin Project Update
Newcore Gold Announced a $5 Million Financing
Cartier Resources Drilling at Chimo Shows Potential
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Market Data
Week on Week Price Changes
(US$ unless stated)
Metal Prices
| Gold price in UK £ | 1528 | -2.05% |
| Gold | 1958 | -0.15% |
| Silver | 24.2 | -0.37% |
| Palladium | 1404 | +5.33% |
| Platinum | 984 | -4.09% |
| Rhodium | 6200 | 0.00% |
| Copper | 3.85 | +2.94% |
| Nickel | 10.31 | +7.62% |
| Zinc | 1.12 | +3.70% |
| Tin | 13.11 | +11.38% |
| Cobalt | 13.08 | 0.00% |
| Manganese | 3.13 | 0.00% |
| Lithium | 42701 | -0.34% |
| Uranium | 57.5 | +3.60% |
| Iron Ore | 112.9 | +1.44% |
| Coking Coal | 220 | -1.79% |
| Thermal coal | 137 | -5.52% |
| Magnesium | 3030 | -2.07% |
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Metal ETFs
| GDX | 31.39 | +1.00% |
| GDXJ | 37.18 | -0.61% |
| Sil | 27.06 | -0.88% |
| SILJ | 9.65 | -1.33% |
| GOEX (PCX) | 25.22 | -0.71% |
| GLD | 181.63 | -0.23% |
| COPX | 39.56 | +5.21% |
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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 shares in Newcore Gold and O3 Mining.
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