Mining Review 21st January 2024
A solid set of news releases from our watchlist in what was a busy week for news. Maybe the forthcoming conferences in Vancouver next week caused the rush of exploration results?
Calibre Mining confirmed the acquisition of Marathon Gold, establishing a potential mid-tier mining company producing 250,000 ounces of gold within a year and a half or so.
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Calibre Mining Plant in Nicaragua
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City Investors Circle Mining Review 21st January 2024
A solid set of news releases from our watchlist in what was a very busy week for news.
Maybe the forthcoming conferences in Vancouver next week caused the rush of exploration results?
Calibre Mining confirmed the acquisition of Marathon Gold, establishing a potential mid-tier mining company producing 250,000 ounces of gold within a year and a half or so.
They are diversifying production from a single country, Nicaragua, and now have production in Nevada, and within a year in Newfoundland, both low country risk tier1 jurisdictions.
The other big news is that Uranium Energy Corp. is restarting production in Wyoming. I had expected them to restart their Texas facility a while ago, as the uranium price is substantially higher than they need, but they have opted for their Wyoming facility later this year.
Orla mining beat production guidance in another succesful year, with the only negative being the government of Panama cancelling their Cerro de Quema licence. This may change after the forthcoming Panamanian election, and will be the subject of an international court in due course, alongside First Quantum Minerals’ action for the loss of their licence in Panama, ans that government has turned rogue on mining.
Karora Resources announced record gold production at their Beta Hunt and Higginsville mines.
On the exploration front, Firefly Metals and West Red Lake Gold reported spectacular drill results, and Calidus Resources reported a lithium discovery.
All the news from this week can be read in full by clicking the links below.
Archives
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Market Data
Weekly Price Changes
(US$ Unless stated)
Metal Prices
| Gold price in UK £ | 1599 | -0.56% |
| Gold | 2028 | -1.02% |
| Silver | 22.59 | -2.63% |
| Palladium | 940 | -3.89% |
| Platinum | 899 | -1.72% |
| Rhodium | 4450 | -1.11% |
| Copper | 3.71 | -1.85% |
| Nickel | 7.2 | -2.31% |
| Zinc | 1.11 | -2.63% |
| Tin | 11.42 | 3.72% |
| Cobalt | 12.9 | -0.08% |
| Manganese | 2.87 | 1.06% |
| Lithium | 12023 | -0.45% |
| Uranium | 106 | 14.59% |
| Iron Ore | 129 | -3.87% |
| Coking Coal | 321 | 1.26% |
| Thermal coal | 125.5 | -0.79% |
| Magnesium | 3442 | 16.01% |
| Metal ETF Prices | ||
| GDX | 27.61 | -7.04% |
| GDXJ | 33.77 | -7.12% |
| Sil | 24.88 | -7.72% |
| SILJ | 8.82 | -7.84% |
| GOEX (PCX) | 23.09 | -4.39% |
| GLD | 187.9 | -0.95% |
| URA | 30.43 | -3.09% |
| COPX | 35.16 | -4.61% |
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Spot mineral prices can be found HERE
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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 Calibre Mining, Calidus Resources, Karora Resources, and Orla Mining
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