Mining Review 29th October 2023
Gold is over $2,000 as the Gaza situation spirals out of control and the threat of a wider regional conflict increases.
Ascot Resources, Calidus Resources, and Marathon Gold released excellent news this week.
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Cornish Metals South Crofty headframe as seen from the adjoining builders merchants yard.
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City Investors Circle Mining Review 29th October 2023
Gold is over $2,000 as the Gaza situation spirals out of control and the threat of a wider regional conflict increases.
The week is starting with reports of rocket attacks in Iraq, Syria, and Yemen, as well as the worsening crisis in Gaza where Israeli forces are now entering the strip. With US forces now being targeted things look poised to go from bad to worse.
It’s hard to see this stopping and the news appears ready to worsen by the day unless some sensible heads prevail, and that’s looking unlikely with the US and Isreal ignoring the UN’s pleas for a ceasefire.
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Ascot Resources, Calidus Resources, and Marathon Gold released excellent news this week.
Many junior miners continue to fall despite the rising price of precious metals (but not base metals), and one wonders how much further they can fall as valuations are starting to look ridiculus compared to historical norms.
Three of our watchlist companies announced good news, yet only Calidus’ price increased, disappointing for holders in those other companies.
It’s interesting that with a record price of gold in Australian dollar terms, and Calidue now producing at quite a healthy margin, and due to fall considerably, the higher share price came as a result of the annoumcement of the SQM investment news in Pirra Lithium.
News from our watchlist companies in the last week is below, click the links to be taken to the full story.
Global Mining Finance Conference Update
Gold Road September Quarter 2023 Quarterly Report
Marathon Gold Provided a Q3 2023 Construction Update
Ascot Intercepted More High-Grade Gold in the Prew Zone
Calidus Announced that SQM has taken a 40% stake in Pirra Lithium
Mining Review 22nd October 2023
Market Data
Weekly price % changes
(US$ unless stated)
Metal Prices
| Gold price in UK £ | 1656 | 1.53% |
| Gold | 2006 | 1.26% |
| Silver | 23.11 | -0.64% |
| Palladium | 1125 | 2.09% |
| Platinum | 905 | .67% |
| Rhodium | 4200 | -21.50% |
| Copper | 3.6 | 0.00% |
| Nickel | 8.11 | -2.17% |
| Zinc | 1.1 | 0.92% |
| Tin | 11.22 | -1.32% |
| Cobalt | 14.85 | 0.00% |
| Manganese | 2.84 | 0.00% |
| Lithium | 21519 | -3.09% |
| Uranium | 69 | 0.00% |
| Iron Ore | 117.4 | 0.26% |
| Coking Coal | 325 | 0.00% |
| Thermal coal | 134 | -5.30% |
| Magnesium | 3102 | -10.32% |
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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.
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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 Ascot Resources, Calidus Resources, and Gold Road Resources.
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