Mining Review 8th October 2023
Higher US bond yields were the focus this week as they pushed gold lower, and then on Friday retreated a tad to allow gold to rise into the close.
Neometals issued an update on their Barrambie titanium and vanadium project, announcing they have failed to agree terms with Xinjiang for offtake, and have terminated discussions.
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Cornish Metals’ South Crofty Mine seen from the neighbouring builder’s yard.
City Investors Circle Mining Review 8th October 2023
Higher US bond yields were the focus this week as they pushed gold lower, and then on Friday retreated a tad to allow gold to rise into the close. some commentator think this is the peak for rates, but I’m not convinced.
Tirning to companies on our watchlist, last week was sparse on the news front, with the major story being Neometals’ update on their Barrambie titanium and vanadium project, where they announced they have failed to agree terms with Xinjiang for offtake, and have terminated discussions.
This is clearly a major disappointment, and a bit of a surprise, as I expected an agreement as clearly the Chinese want and need the product, and NMT the offtake agreeemnt to boost the share price.
One wonders what the stumbling blocks were and how far apart on price?
Other snippets from our watchlist companies are listed below, juct click on the item to be taken to the page to read in full.
Cornish Metals Financial Statements and MD & A
Battery Recycling Expert to Lead Neometals Recycling
Impact Minerals HPA – New Presentation
Minera Alamos Announced an MRE for Santana
Neometals Issued a Barrambie Offtake Update
Global Mining Finance Conference Update
Mining Review 1st October 2023
Market Data
Weekly price movements
(US$ unless stated)
Metal and ETF prices
| Gold price in UK £ | 1498 | -1.25% |
| Gold | 1832 | -0.92% |
| Silver | 21.39 | -3.65% |
| Palladium | 1163 | -9.35% |
| Platinum | 885 | -2.96% |
| Rhodium | 4100 | 0.00% |
| Copper | 3.54 | -2.75% |
| Nickel | 8.26 | -2.48% |
| Zinc | 1.11 | -0.89% |
| Tin | 10.9 | -5.95% |
| Cobalt | 14.85 | 0.00% |
| Manganese | 2.78 | 0.36% |
| Lithium | 21033 | 0.00% |
| Uranium | 72.75 | 3.93% |
| Iron Ore | 114.6 | -3.78% |
| Coking Coal | 321 | 0.00% |
| Thermal coal | 140 | -13.04% |
| Magnesium | 3470 | -0.03% |
| Lumber | 499 | -0.20% |
| GDX | 26.89 | -0.07% |
| GDXJ | 31.83 | -1.24% |
| Sil | 23.29 | -2.55% |
| SILJ | 8.27 | -2.48% |
| GOEX (PCX) | 21.46 | -2.05% |
| GLD | 169.7 | -1.02% |
| COPX | 35.14 | -3.49% |
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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.
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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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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 holds shares in Minera Alamos.
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