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.
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
i-80 Gold Acquired Paycore Minerals
Read more: http://www.city-investors-circle.com/archives/#ixzz7v1A3oMJd
Weekly percentage changes
(US$ unless stated)
|Gold price in UK £||1542||+1.65%|
|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%|
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The author currently holds shares in Argosy Minerals, i-80 Gold, and Pacgold