Mining Review 5th March 2023

Mining Review 5th March 2023

US interest rate rise expectations failed to suppressed the price of gold, but many miners are back down.

Argosy Minerals delivered a positive production update at their Rincon Lithium Project, and Rumble Resources reported excellent drill results. 




Karora Resources

Karora Resources – Beta Hunt Mine Specimen Stone


City Investors Circle Mining Review 5th March 2023

The price if gold defied US interest rise speculation to end the week healthily in the blue, but industrial metals had a torrid week.

News from china seems to cause the market top flip flop from positive to negative on an almost weekly basis, and this was a negative week.  With inflation running rampant a recession looks a bolt on certainty at some point, bit it takes time to get going as expenditure slows.


Turning to our watchlist companies, this was a quiet week for news, unusually so given that PDAC starts today.

Argosy Minerals delivered a positive production update at their Rincon Lithium Project, located in Salta, Argentina. They are almost 100% commissioned now and they seem to have executed well.

Rumble Resources reported excellent drill results from the latest round of high-grade Zn-Pb RC drilling results from the Tonka Prospect, plus the delineation of multiple new gravity low targets which potentially may represent new high-grade feeder faults within the 11km Tonka-Navajoh mineralised footprint and over 9km of drill untested strike southeast of Tonka-Navajoh deposit

News snippets from our watchlist are below, click on the links for the full story.

  Pacgold IP Geophysics Confirms District-Scale Opportunity

  Rumble Resources Finds Multiple New High-Grade Feeder Targets

  Argosy Minerals  Delivers Rincon Lithium Production Update

  Japan Gold Gives Ryuo Project Update

  Market Review February 2023

  i-80 Gold Acquired Paycore Minerals

  Mining Review 26th February 2023

Read more:

Metal Prices

Weekly percentage changes

(US$ unless stated)

Metal Prices

Gold price in UK £ 1542 +1.65%
Gold 1855 +2.43%
Silver 21.26 +2.31%
Palladium 1457 +2.53%
Platinum 982 +6.39%
Rhodium 10100 -9.69%
Copper 4.04 -1.70%
Nickel 10.96 -5.60%
Zinc 1.39 -0.71%
Tin 11.27 -6.24%
Cobalt 15.2 0.00%
Manganese 3.72 -3.63%
Lithium 46750 -10.88%
Uranium 51.5 -0.39%
Iron Ore 126.4 -3.07%
Coking Coal 340 -8.11%
Thermal coal 197 -1.01%
Magnesium 3221 +1.16%


Metal ETFs

GDX 28.63 +6.08%
GDXJ 35.12 +6.33%
Sil 27.78 +6.31%
SILJ 10.19 +9.33%
GOEX  (PCX) 25.2 +7.23%
GLD 172.49 +2.46%
COPX  40.37 +9.94%



Au / Ag Ratio 87.5 2.11%
10 yr Tbond (TNX) 3.964 0.35%
2 yr T bond 4.871 4.53%
US  index (DXY) 104.53 -0.69%
HUI 226.24 5.79%




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.

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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.

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.




The author currently holds shares in Argosy Minerals, i-80 Gold, and Pacgold