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. 

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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.

Read more: http://www.city-investors-circle.com/archives/#ixzz7v1A3oMJd

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%

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Miscellaneous

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%

 

 

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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.

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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

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

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