Mining Review 2nd April 2023

Mining Review 2nd April 2023

Antofagasta PLC are to headline the forthcoming Global Mining Finance Conference in London on the 20th April.

A poor week for companies we follow, with Argosy suffering from a falling lithium price and Cyprium Metals announcing the dreaded words “strategic review”.

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Scotgold

Scotgold mine portal, Cononish, Scotland

 

 

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City Investors Circle Mining Review 2nd April 2023Antofagasta PLC are to headline the forthcoming Global Mining Finance Conference in London on the 20th April. There is an interesting and diverse range of mining companies presenting from ealry stage explorers to significant producers that are still expanding by exploration.

For full details, and and to register for a complimentary delegate pass, click HERE

 

A poor week for companies we follow, with Argosy Minerals suffering from a falling lithium price and Cyprium Metals announcing the dreaded words “strategic review”. I’m pleased and relieved I sold Cyprium as a hedge against any financing issues, and I was only concerned about the price and what dilution might occur, rather than if it might happen.

 

The main issue of the week is about a company we don’t follow on this website, but I have followed personally since visiting the mine a few years ago, Scotgold.

I would like to see a revival of mining in the UK, and Scotgold, with their mine at Tyndrum in central Scotland was at the forefront.

Scotgold are in production although they have been struggling a bit financially, so decided to raise additional funds via a placing. In mid February they announced a £3 million placing at 40p per share, to directors, institutions, and a retail placing.

Fast forward to this week and a disaterous production update was released, and they announced they needed £500,000 fast after mining into some barren rock! The shareprice is now 15p!

The obvious questions are what has happened to the £3.5 million raised just six weeks ago?  And when did the company know they had found a barren area in the mine?

It almost beggars belief they have gone from gold rich rock to barren rock within such a short period.

Surely the exchange should be looking at this?

 

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Companies on our Watchlist making news this week.

  O3 Mining Issues a Retraction

  Market Review for March 2023 Published

  Argosy Minerals Shareprice Lower on Argentina Concerns

  Antofagasta PLC to Open the Global Mining Conference

  Cyprium Metals Announces a “Strategic Review”

  Scotgold Plummets After Market Update

  Mining Review 26th March 2023


Read more: http://www.city-investors-circle.com/archives/#ixzz7xiBLtYBf

Market Data

Week on week price changes

(US$ unless stated)

 

Metal Prices

Gold price in UK £ 1599 -1.30%
Gold 1970 -0.45%
Silver 24.12 +3.74%
Palladium 1487 +4.50%
Platinum 1005 +1.72%
Rhodium 8000 -3.61%
Copper 4.1 +1.49%
Nickel 10.52 +5.94%
Zinc 1.35 +3.05%
Tin 11.75 +8.60%
Cobalt 15.54 +2.24%
Manganese 3.27 -0.91%
Lithium 28995 -12.91%
Uranium 50.35 +0.30%
Iron Ore 126 +6.69%
Coking Coal 320 +3.33%
Thermal coal 188.5 +1.34%
Magnesium 3137 +1.39%

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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 Argosy Minerals.

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