Mining Review 7th April 2024
What a memorable week for gold, silver, and copper, up 4%, 10%, and 8% respectively! It was certainly exciting, and lifted the prices of gold mining producers and the funds associated with them, such as GDL, GDX, SIL Etc.
Nevada King Gold Mines and Orla Mining both declared high-grade drill results.
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City Investors Circle Mining Review 7th April 2024
Have you got your breath back yet?
It was a memorable week for gold, silver, and copper, up 4%, 10%, and 8% respectively! It was certainly exciting, and lifted the prices of gold mining producers and the funds associated with them, such as GDL, GDX, SIL Etc. which rose, on average, around 9%.
I do think these prices are getting ahead of themselves, with no obvious catalyst apart from the threat of an Israel – Iran war, and I think that unlikely personally, although I expect the Iranians to make a limited retalliation to save face.
The share prices of gold producers have risen .in response to the higher gold price, but, if gold continues to rise, it will be reflected in the next round of financial results, and I feel that could well be the catalyst for much hgher share prices.
At some point money will start to flow into the junior explorers and developers, but the focus will be on the producers for now, as they will see investors’ money first.
The next week could be interesting.
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Gold mining producers such as Calibre Mining and Karora Resources rose strongly, and even down in the dumps Golf Road rose a little.
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To read about the news from our watchlist companies this week, please click the links below.
Orla Mining Confirmed Strong Carlin-Type Gold Mineralization
Calibre Mining’s Exploration Program Underway
Nevada King Intercepted 4.51 G/T AU Over 86.3M
Gold Road Resources Weather Event Halts Production at Gruyere
Easter Monday Stock Market trading Times
Market Review for March 2024 Published
Market Data
Weekly Price Changes
Metal prices
| Gold price in UK £ | 1846 | 4.29% |
| Gold | 2329 | 4.30% |
| Silver | 27.51 | 10.13% |
| Palladium | 1003 | 0.50% |
| Platinum | 929 | 1.64% |
| Rhodium | 4725 | 0.53% |
| Copper | 4.26 | 8.12% |
| Nickel | 7.81 | 5.54% |
| Zinc | 1.16 | 8.41% |
| Tin | 12.9 | 6.79% |
| Cobalt | 12.76 | 0.08% |
| Manganese | 3.06 | 0.00% |
| Lithium | 14724 | 1.84% |
| Uranium | 87.5 | -1.24% |
| Iron Ore | 98.6 | -2.95% |
| Coking Coal | 228 | -6.94% |
| Thermal coal | 128.9 | -0.85% |
| Metal ETFs | ||
| GLD | 215.1 | 4.56% |
| GDX | 33.84 | 7.02% |
| GDXJ | 41.89 | 8.13% |
| Sil | 31.05 | 13.07% |
| SILJ | 11.13 | 12.08% |
| GOEX (PCX) | 28.09 | 6.56% |
| URA | 30.54 | 5.93% |
| COPX | 44.64 | 5.21% |
| HUI | 265.16 | 7.26% |
| Gold / Silver ratio | 84.66 | 2.15% |
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Live spot metal prices can be found HERE
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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
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 does not hold shares in Orla Mining.
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