Mining Review 26th February 2023
Stronger than expected US economic numbers pushed the price of gold down further this week.
Calidus Resources, Cyprium Metals, i-80 Gold, Silver Tiger Metals, and Skeena made news this week.
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Calidus Resources – Klondyke Prospect panoramic view
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City Investors Circle Mining Review 26th February 2023
Stronger than expected US economic numbers pushed the price of gold down further this week.
This has raised the possibility of higher rates for longer, negative fro gold and stocks, so down we go again.
The big fear now has to be good exploration and development companies being bought up for a song whilst prices remain at these depressed levels.
Cyprium Metals disappointed hugely this week when they announced the cancellation of their proposed financing deal to bring the Nifty Copper Mine back into production.
They also requested the suspension of the trading of their shares on the ASX whilst they try and secure a replacement financing package. This is presumably to prevent a rout of the share price.
On the LSE such a request would not succeed, but in Australia it seems to be OK, which surprises me as it prevents the market functioning normally.
I am removing Cyprium from the tier 1 Watchlist as they no longer have the required financing and the future is uncertain, and replacing them with Argosy Minerals, now producing lithium in Argentina.
Calidus Resources, Cyprium Metals, i-80 Gold, Silver Tiger Metals, and Skeena made news this week, to read the full releases please click on the links below;
Silver Tiger Metals Announced a $18 M Bought Deal Closing
Cyprium Metals Nifty Copper Mine Financing Cancelled
Skeena Bolstered 21A West Zone Intersecting 18.18 g/t Au
i-80 Gold Announced a Ruby Hill Technical Teach-In
Calidus Resources Drilling Shows growth opportunities at Blue Spec East
Mining Conference “Greed Creep”
Mining Review 19th February 2023
Read more: http://www.city-investors-circle.com/archives/#ixzz7uHgJ5eyA
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Market Data
Week on week price changes
(US$ unless stated)
Metal Prices
| Gold price in UK £ | 1517 | -0.91% |
| Gold | 1811 | -1.74% |
| Silver | 20.78 | -4.42% |
| Palladium | 1421 | -5.39% |
| Platinum | 923 | -0.75% |
| Rhodium | 10850 | -5.65% |
| Copper | 4.11 | +1.99% |
| Nickel | 11.61 | -1.02% |
| Zinc | 1.4 | +1.45% |
| Tin | 12.02 | -0.74% |
| Cobalt | 15.2 | -4.28% |
| Manganese | 3.86 | -1.28% |
| Lithium | 52457 | -9.20% |
| Uranium | 51.7 | -0.19% |
| Iron Ore | 130.4 | +3.99% |
| Coking Coal | 370 | +6.02% |
| Thermal coal | 199 | +6.99% |
| Magnesium | 3184 | -2.15% |
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Metal ETF’s
| GDX | 26.99 | -4.93% |
| GDXJ | 33.03 | -4.51% |
| Sil | 26.13 | -5.02% |
| SILJ | 9.32 | -7.36% |
| GOEX (PCX) | 23.5 | -4.59% |
| GLD | 168.35 | -1.70% |
| COPX | 36.72 | -6.30% |
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