Mining Review 24th March 2024
Not much to cheer from our watchlist companies this eek, with Calibre Mining announcing a C$100 million discounted placing, Calibre Resources announcing the same as part of a financial restructure, and Gold Road issuing a disappointing production update from Gruyere.
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Mine portal, Cononish, Scotland
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City Investors Circle Mining Review 24th March 2024
Not much to cheer from our watchlist companies this week, with Calibre Mining announcing a C$100 million discounted placing, Calibre Resources announcing the same as part of a financial restructure, and Gold Road Resources issuing a disappointing production update from the Gruyere gold mine.
This is becoming a habit now for Gold Road, and the stock has fallen 25% from its recent high, despite a record high gold price, very disappointing.
Cornish Metals surprised me by announcing that CEO Richard Williams is to leave the company at this critical stage in its development. It all looks friendly on the surface but the share price has been falling since. I wonder if they are about to raise finance and institutions wouldn’t back Richard?
It will be interesting to see how soon the next financing occurs.
The only good news was by West Red Lake Gold Mines, who announced some more decent drill results.
All the news from our watchlist companies is listed below, please click on the links to be taken to the full story.
Cornish Metals 2023 Financal Statements and MD & A
Calidus Resources Financial Restructure and Discounted Placing
Calibre Mining Announced a C$100 Million Bought Deal
West Red Lake Gold Intersects 25.12 g/t Au over 5.5m
Gold Road Issued a Gruyere Production Update
Cornish Metals Announced a Change in Executive Management
Market Data
Weekly Price Changes
(US$ unless stated)
Metal prices
| Gold price in UK £ | 1720 | 1.47% |
| Gold | 2166 | 0.46% |
| Silver | 24.7 | -1.91% |
| Palladium | 997 | -9.61% |
| Platinum | 715 | -23.94% |
| Rhodium | 4700 | 0.53% |
| Copper | 4.02 | 0.75% |
| Nickel | 7.91 | -1.74% |
| Zinc | 1.13 | -0.88% |
| Tin | 12.56 | -1.26% |
| Cobalt | 12.73 | 0.16% |
| Manganese | 3.13 | -0.63% |
| Lithium | 15071 | -0.11% |
| Uranium | 85.8 | 3.37% |
| Iron Ore | 107.1 | -3.51% |
| Coking Coal | 235 | -8.91% |
| Thermal coal | 124.8 | -4.73% |
| Magnesium | 2559 | -0.97% |
| Metal ETFs | ||
| GDX | 29.6 | -0.97% |
| GDXJ | 36.15 | -1.61% |
| Sil | 27 | 2.47% |
| SILJ | 9.46 | -1.05% |
| GOEX (PCX) | 24.41 | -0.97% |
| GLD | 200.35 | 0.32% |
| URA | 28.85 | 3.44% |
| COPX | 41.29 | -0.72% |
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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.
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