Mining Review 23rd October 2022
A better week for gold and silver, and their associated ETFs, but industrial metals were mostly static. Lithium reached a new all time high in China.
Ascot Resources, Cyprium Metals, Eloro Resources, Nouveau Monde, Radisson Mining and Wesdome all reported news this week.
.
.
Eloro Resources – Iska Iska project view
.
Mining Review 23rd October 2022
A better week for gold and silver, and their associated ETFs, which rose strongly. Gold rose slightly as the market started to believe the FED may slow down future rate hikes.
Silver was up more than 6%, as some market commentators are highlighting lower stocks at the Comex and LME as industrial demand increases, notably for solar panels.
Industrial metals were mostly static, and in the energy sector, the price of Lithium carbonate reached a new all time high in China, $74,600.
.
.
Mining news this week
The government of Namibia announced they would sell all their rare earth elements to the EU in an exclusivity deal. The EU have agreed all the processing would be carried out in Namibia, thus beneficiating the product at source.
This is a good result for Namibian employment and taxes, and maybe the first of many such exclusivity deals as countries try to lock in supply contracts for critical commodities.
In Peru, the large Las Bambas copper mine is blockaded, again!
Companies on our watchlist that made news this week;
Ascot Resources, Cyprium Metals, Eloro Resources, Nouveau Monde, Radisson Mining and Wesdome Gold Mines all reported news this week.
We initiated coverage of I-80 Gold (TSX: IAU), a company formed by ex Premier Gold management after their takeover by Equinox Gold. Click the link below for my reasoning.
Nimy Resources (ASX: NIM) was added to the early stage grass roots exploration watchlist after revealing promising nickel drill results at their project located in the Yilgarn Craton region of Western Australia.
Radisson Mining Reported high-grade Gold Intercepts at O’Brien
Nouveau Monde Graphite Signed an Offtake Deal
Cyprium Metals Nifty Copper Mine Development Update
Eloro Resources Hit Multiple Intersections at Iska Iska
Initiating coverage of I-80 Gold Corp.
Ascot Resources Reported Positive Grade Reconciliation
Wesdome Gold Q3 Results Disappoint the market, the stock fell
Mining Review 16th October 2022
Read more: http://www.city-investors-circle.com/archives/#ixzz7iRnpbY8U
.
.
Market Data
Week on week price movements
(US$ unless stated)
Metal prices
| Gold price in UK £ | 1466 | -0.27% |
| Gold | 1656 | +0.91% |
| Silver | 19.33 | +6.09% |
| Palladium | 1938 | -3.10% |
| Platinum | 932 | +2.87% |
| Rhodium | 14090 | +1.44% |
| Copper | 3.44 | -1.15% |
| Nickel | 9.9 | -0.40% |
| Zinc | 1.34 | 0.00% |
| Tin | 8.63 | -5.48% |
| Cobalt | 23.25 | 0.00% |
| Manganese | 3.125 | +0.16% |
| Lithium | 74600 | +2.17% |
| Uranium | 52.65 | +4.88% |
| Iron Ore | 91.4 | -0.44% |
| Coking Coal | 307 | +4.78% |
| Thermal coal | 395 | -0.25% |
| Magnesium | 3630 | -0.74% |
| Lumber | 535 | +8.74% |
.
Metal ETFs
| GDX | 24.34 | 7.13% |
| GDXJ | 29.85 | 7.57% |
| Sil | 24.9 | 5.96% |
| SILJ | 9.45 | 6.18% |
| GOEX (PCX) | 20.68 | 6.11% |
| GLD | 154.15 | 0.76% |
| COPX | 29.22 | 4.21% |
.
Miscellaneous data
| Au / Ag Ratio | 88.99 | 0.92% |
| 10 yr T bond (TNX) | 4.21 | 4.73% |
| 2 yr T bond | 4.504 | 0.76% |
| US index (DXY) | 111.89 | -1.21% |
| HUI | 196.14 | 6.84% |
.
.
=======
.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
=======
.
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
.
=======
,
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.
.
.
Disclosure
At the time of writing the author holds shares in Ascot Resources, Cyprium Metals, and Eloro Resources, all bought in the market at the prevailing price on the days of purchase.
.
.