Mining Review 23rd June 2024
West Red Lake Gold Mines announced a projected date for their Madsen Mine restart.
Capricorn Metals reduced their hedge book, and Cornish Metals sold off a non-core Canadian asset to bring in some welcome funds.
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Barton Gold – Panoramic view
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City Investors Circle Mining Review 23rd June 2024
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Mining Review 23rd June 2024
A quiet week on the metals front, with gold and silver fractionally down, and industrial bellwether copper down on Chinese destocking reports.
Lithium fell back quite sharply as reports of oversupply, reducing Electric vehicle (EV) sales, and that some consumers are planning to revert back to petrol engines due to dissatisfaction with their EV circulate.
Overall there seems to be a realisation that the EV revolution is stuttering and could go into reverse. Range anxiety (especially in winter) is often quoted as the main concern, but I think the high cost plays a big part too. I recently bought a new car and opted for a petrol because the same car as an EV was £10,000 + more. For what?
There are always some people that want the latest gadget, toy, etc, and they generated the initial demand, but we now have a standoff between consumers and manufacturers, who are now being forced to mothball production lines due to low demand.
I think hybrids will become more popular personally, especially in areas where the traffic crawls on the commute and the battery can be used.
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West Red Lake Gold Mines announced a projected date for their Madsen Mine restart.
Capricorn Metals reduced their hedge book, which is something I, as an investor in gold stocks, and bullish on the price of gold, like to see.
Cornish Metals sold off a non-core Canadian nickel asset to bring in some welcome funds. This makes perfect sense in my view, I didn’t even realise they had this asset, so it shows that there was absolutely no value whatsoever in the share price for it.
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News items from companies on our watchlist are below, click the lint o be taken to the full story.
Ascot Resources Closed a C$5 Million Flow Through Private Placement
West Red Lake Gold Mines Now Has a Projected Mine Re-start Date
Barton Gold $4.25 Million Gold Sale
Cornish Metals Announced a Sale of Nickel King Property
Capricorn Metals Reduced their Hedge Book
Barton Gold Tarcoola Goldfield Drilling Has Restarted
Click here for all company news archives
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Market Data
Weekly Price Changes
(US$ Unless stated)
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| Metal Prices | Price | Weekly % change |
| Gold price in UK £ | 1838 | -0.27% |
| Gold | 2322 | -0.51% |
| Silver | 29.55 | -0.17% |
| Palladium | 926 | 3.46% |
| Platinum | 1001 | 3.20% |
| Rhodium | 4700 | 3.07% |
| Copper | 4.4 | -0.23% |
| Nickel | 7.77 | -2.26% |
| Zinc | 1.28 | 0.79% |
| Tin | 14.77 | -1.73% |
| Cobalt | 12.05 | -0.08% |
| Manganese | 5.34 | -3.78% |
| Lithium | 12326 | -6.35% |
| Uranium | 84.8 | -1.40% |
| Iron Ore | 106.9 | 0.19% |
| Coking Coal | 310.5 | -4.75% |
| Thermal coal | 135 | -0.74% |
| Metal ETFs | Price | Weekly % change |
| GLD | 214.78 | -0.44% |
| GDX | 33.99 | 1.74% |
| GDXJ | 42.42 | 1.36% |
| Sil | 31.79 | 0.66% |
| SILJ | 11.56 | 1.49% |
| GOEX (PCX) | 27.91 | 1.42% |
| URA | 29.63 | 0.24% |
| COPX | 45.22 | 2.03% |
| HUI | 267.21 | 1.97% |
| Gold / Silver ratio | 78.58 | -0.35% |
| 10 yr Tbond (TNX) | 4.25 | 0.95% |
| 2 yr T bond US2Y | 4.74 | 0.64% |
| US index (DXY) | 105.83 | 0.29% |
| SPJXGD | 54.42 | 0.70% |
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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.
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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.
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