Mining Review 5th February 2023

Mining Review 5th February 2023

Gold was pummelled at the end of the week after strong US jobs data dissapated anticipation of an early stop to rate hikes and the “pivot”.

Orla Mining again delighted their shareholders, whilst another favourite, Mnera Alamos, disappointed theirs. 

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Mining Review 5th February 2023

Gold was pummelled at the end of the week after strong US jobs data dissapated anticipation of an early stop to rate hikes and the “pivot”.

Orla Mining again delighted their shareholders, whilst another favourite, Mnera Alamos, disappointed theirs.

 

Companies on our wathlist that made news last week;

Orla Mining gave a positive project update, which closely follows their recent production above guidance report, and management are delivering on expectations currently.

Sadly another favourite of mine dissapointed with production well below guidance. Minera Alamos has once again been hit with a dry season that has curtailed their production, and this dependancy on seasonal rains surely has to be addressed now?

Only 3,000 ounces of gold produced, and although they are well financed,my concern  is they may now have to dilute to finance their next mine, because they won’t produce enough revenue to do it organically as planned.

Other news is below, just click the link to be taken to the full story.

  Orla Mining Reported ContinuesdExplortion Success

  Argosy Minerals Rincon Project Update

  Eloro Resources Announced high grade Assays

  Minera Alamos Q4 Prodiuction Update Is disappointing

  Market Review January 2023 Published

  American Creek JV Corporate Update

  Mining Review 29th January 2023

Market Data

Weekly price changes

ALL US$ unless stated

 

Gold price in UK £ 1548 -0.58%
Gold 1866 -3.22%
Silver 22.35 -5.34%
Palladium 1627 0.18%
Platinum 977 -4.40%
Rhodium 11900 -1.65%
Copper 4.13 -1.90%
Nickel 13.03 -0.08%
Zinc 1.52 -3.80%
Tin 13.27 -7.01%
Cobalt 18.6 -15.15%
Manganese 3.72 0.00%
Lithium 65080 -1.21%
Uranium 50.8 1.09%
Iron Ore 123.9 -1.12%
Coking Coal 325 -2.99%
Thermal coal 240 34.83%
Magnesium 3406 0.00%
Lumber 492 0.00%
GDX 30.32 -6.16%
GDXJ 36.86 -6.66%
Sil 29.11 -5.52%
SILJ 10.72 -5.13%
GOEX  (PCX) 26.21 -6.76%
GLD 173.46 -3.21%
COPX 39.77 -4.01%
Au / Ag Ratio 80.97 -0.04%
10 yr Tbond (TNX) 3.53 0.57%
2 yr T bond 4.3 2.63%
US  index (DXY) 102.99 1.05%
HUI 243.87 -5.71%

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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

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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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Disclosure

At the time of writing the author holds shares in Eloro Resources.

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