Mining Review 18th September 2022
The story of the week is the price of gold being beaten down by 2.45% to $1,674, due to an anticipated one percentage point rate hike in the USA in September.
Companies making news this week were American Creek Resources, Karora Resources, Neometals, and Silver Tiger Metals.
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Rest in peace ma’am
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Mining Review 18th September 2022
The story of the week is the price of gold being beaten down by 2.45% to $1,674, due to an anticipated 1 percentage point rate hike in the USA in September. The strong dollar is the focus at the moment, and until the FED pivots, gold is going to be in weak, and of course, the miners and explorers.
Every time gold looks as though it’s recovering, the US make another interest rate announcement and down it goes again, almost as if were being manipulated downwards deliberately.
Silver had a very good week and stocks in the COMEX and LBMA vaults are reducing, although they still have plenty in store at the moment.
The London Metal Exchange faces a new lawsuit from a group of firms, including hedge fund AQR Capital Management, over its decision to cancel billions of dollars worth of trades, after the short squeeze in nickel forced the price to stratospheric levels, causing the LME to suspend trading and cancel trades to bail out a Chinese trader.
AQR, DRW Commodities LLC, Flow Traders BV, Capstone Investment Advisors LLC, and Winton Capital Management Ltd. have filed a commercial court claim in London against the LME, according to court records.
Companies on our watchlist making news this week
American Creek Resources, Karora Resources, Neometals, and Silver Tiger Metals.
American Creek and Karora both released good drilling news, yet the market took it in its stride and both stocks trod water, whereas in better times they would have shot up.
Please click on the links below to read the full news release.
Westhaven Gold agreed an NSR With Franco-Nevada
Karora Resources Drilled 6.5% Nickel Over 11.9m
Silver Tiger intersected 2,271 g/t Ag Eq
Neometals’ Primobius Study For 50 TPD Plant
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Market Data
Weekly price movements
All in US$
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| Gold price in UK £ | 1466 | -1.01% |
| Gold | 1674 | -2.45% |
| Silver | 19.56 | +3.99% |
| Palladium | 2123 | -2.44% |
| Platinum | 909 | +2.85% |
| Rhodium | 14190 | -6.64% |
| Copper | 3.54 | -1.39% |
| Nickel | 10.57 | +8.86% |
| Zinc | 1.46 | +0.69% |
| Tin | 9.48 | -3.66% |
| Cobalt | 23.26 | 0.00% |
| Manganese | 2.99 | +0.34% |
| Lithium | 69255 | -0.60% |
| Uranium | 50.85 | -2.12% |
| Iron Ore | 100.6 | +0.80% |
| Coking Coal | 253 | -4.53% |
| Thermal coal | 305 | -2.24% |
| Magnesium | 3658 | -0.25% |
| Lumber | 481 | -5.50% |
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ETF’s
| GDX | 23.99 | -4.42% |
| GDXJ | 29.29 | -5.94% |
| Sil | 24.06 | -2.59% |
| SILJ | 8.98 | -5.17% |
| GOEX (PCX) | 20.95 | -4.77% |
| GLD | 155.84 | -2.49% |
| COPX | 29.89 | -4.81% |
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Miscellaneous data
| Au / Ag Ratio | 87.14 | -5.29% |
| 10 yr T bond (TNX) | 3.455 | 5.02% |
| 2 yr T bond | 3.867 | 11.12% |
| US index (DXY) | 109.67 | 0.61% |
| HUI | 190.75 | -4.06% |
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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
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 American Creek, Karora Resources, and Silver Tiger Metals, bought in the market at the prevailing price on the days of purchase.
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