Mining Review 23rd July 2023

Mining Review 23rd July 2023

Gold and silver trod water this week, whilst iron ore, coking coal, and thermal coal all ended strongly positive.

American Creek and Rumble Resources announced good exploration results, and Cabral Gold announced an NSR with Osisko Gold Royalties for $5m. 



i80 Gold

I-80 Gold – Ruby Hill




 News from our watchlist companies this week.

We had two exploration successes announced this week, with both American Creek (via JV partner Tudor Gold), and Rumble Resources announcing good drill results.

Perhaps the biggest news of the week was the deal announced by Cabral Gold, which has agreed a C$5 million investment from Osisko Gold Royalties for a 3% NSR, to assist the Feasability Study for their Brazilian gold project.

Links to all this week’s news are highlighted in blue below, just click the link to read the full story.

 Calidus Resources Noosa Presentation

Calidus presented at the Moosa Mining Conference, and the presentation is attached.  The company is improving performance after a shaky start to gold production at their Warrawoona Gold Mine, WA.

Skeena Updates on Near Term Catalysts
Provided an update on several near-term catalysts expected to drive growth at its 100% owned Eskay Creek and Snip Projects, located in the Golden Triangle of northwest British Columbia, Canada.
I-80 Announces C$32 M Private Placement
Announced that it has entered into an agreement with CIBC Capital Markets to which the Underwriters have agreed to purchase on a bought deal private placement basis, 11,852,000 common shares of the Company at a price of $2.70 per Offered Share for gross proceeds of $32.0 million.
Rumble Resources Intersected Potential 9KM Deposit
Has intersected a potential 9-kilometre-by-3-kilometre zinc-lead deposit during RC drilling at the Earaheedy Project’s Sweetwater Trend.
American Creek’s JV Partner Intersected Wide Gold Intervals
Announced that project operator and JV partner Tudor Gold has produced the first set of drill results for the 2023 exploration program at the flagship property, Treaty Creek, located in the heart of the Golden Triangle of NW BC.
Cabral Enters into NSR Royalty Agreement with Osisko Gold Royalties
Has entered into a royalty agreement with Osisko Gold Royalties Ltd. (TSX: OR) pursuant to which Osisko has agreed to purchase a 1% net smelter return royalty on the Cuiú Cuiú gold project for a cash consideration of US$5 m.
Mining Review 16th July 2023

Gold had a better week after poor US employment numbers, base metals were largely positive despite Chinese economic concerns.   Calidus Resources, Cartier Resources, and i-80 Gold all reported good drill results.

Market Data

Weekly Price Movements

(US$ Unless stated)


Metal and Index Prices

Gold price in UK £ 1527 2.19%
Gold 1962 0.31%
Silver 24.63 -1.32%
Palladium 1296 1.73%
Platinum 964 -2.13%
Rhodium 4050 -6.90%
Copper 3.88 -0.26%
Nickel 9.6 0.10%
Zinc 1.09 -2.68%
Tin 13.27 -0.67%
Cobalt 14.85 0.00%
Manganese 3 0.33%
Lithium 40092 -3.76%
Uranium 55.75 -0.45%
Iron Ore 115.2 3.83%
Coking Coal 236 4.89%
Thermal coal 140 9.38%
Magnesium 3067 -1.13%
Lumber 545 -5.55%
GDX 31.49 -1.47%
GDXJ 37.91 -1.20%
Sil 27.45 -0.69%
SILJ 10.25 -0.29%
GOEX  (PCX) 26.11 -1.95%
GLD 182.18 0.41%
COPX 38.98 -2.21%



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At the time of writing the author holds shares in American Creek Resources, and i-80 Gold Corp.