Mining Review 24th December 2023
Two major announcements by companies on our watchlist list up a normally quiet final week before Christmas.
Galiano Gold acquired the other 45% of the Asanko mine in Ghana from their JV partner, and Calidus Resources announced a stunning deal to acquire the Nullagine mine and immediately lease out 80% of the camp for 10 years bringing in much needed cash to the company.
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City Investors Circle Mining Review 24th December 2023
Two major announcements by companies on our watchlist list up a normally quiet final week before Christmas.
Galiano Gold acquired the other 45% of the Asanko mine in Ghana from their JV partner, and Calidus Resources announced a stunning deal to acquire the Nullagine mine and immediately lease out 80% of the camp for 10 years bringing in much needed cash to the company.
In addition, both Eloro and Wesdome reported high grade drill intercepts at their respective projects in Bolivia and Canada respectively.
There was one item of bad news, which predictably came from Orla Mining who informed the market that the Panamanian governement were cancelling their rights to mine their Cerro de Quema copper gold project, following on from their similar actiona against First Quantum, closing their producing copper mine there.
Orla and First Quantum have both promised legal action via intenational courts, but this process takes years and does not have a certain outcome.
Orla now need to focus on South Railroad in Nevada whilst the Panamanian issue is addresses legally.
Click on the links below to read the full stories.
Galiano Gold Consolidates Ownership of the Asanko Gold Mine
Calidus Enhances Cash Position and Production Upside With Purchase of Nullagine Gold Project
Galiano Gold Reports Q3 Operating and Financial Results
Eloro Resources Intersects 279.22 Ag/t, 0.47% Pb and 0.43% Sn
Orla Mining Update on Panama and Cerro Quema
Wesdome Drilling Continues to Return High Grades
Mining Review 17th December 2023
Market Data
Weekly Price changes
(US$ unless stated)
Metal Prices
| Gold price in UK £ | 1620 | 1.89% |
| Gold | 2053 | 1.73% |
| Silver | 24.2 | 1.60% |
| Palladium | 1208 | 2.98% |
| Platinum | 979 | 3.60% |
| Rhodium | 4350 | -1.14% |
| Copper | 3.84 | -1.03% |
| Nickel | 7.56 | 1.20% |
| Zinc | 1.16 | 1.75% |
| Tin | 11.23 | -1.06% |
| Cobalt | 12.91 | -2.34% |
| Manganese | 2.69 | 1.13% |
| Lithium | 12118 | -2.79% |
| Uranium | 82.3 | 0.00% |
| Iron Ore | 138.2 | 2.37% |
| Coking Coal | 322 | 0.00% |
| Thermal coal | 138 | -3.50% |
| Magnesium | 3017 | -1.50% |
ETF |
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| GDX | 31.56 | 1.61% |
| GDXJ | 38.83 | 2.83% |
| Sil | 28.94 | 3.73% |
| SILJ | 10.3 | 3.94% |
| GOEX (PCX) | 26.06 | 4.49% |
| GLD | 190.27 | 1.72% |
| COPX | 38.1 | 2.50% |
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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 Karora resources.
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