Mining Review 9th April 2023

Mining Review 9th April 2023

It was a generally quiet week leading up to the Easter weekend on the company news front, but we still managed a few snippets, companies reporting included Gold Road Resources, Maple Gold, and Silver Tiger Metals. 




Easter image



City Investors Circle Mining Review 9th April 2023



Gold, and silver in particular, had a very strong week, whereas the industrial metals had a poor one, as global economic slowdown fears resurfaced (did they ever really go away?).

Gold held above the $2,000 level as banking concerns rumble on.

Owning some physical metal outside of the banking system looks a very strong bet at the moment. What is happening is that investors are withdrawing money from regional US banks, which are of the size that the governement will allow to fail and go under, and investing those funds in the ‘too large to fail banks’ that they believe the governement can’t, and won’t, allow to fail.

This is of course becoming a self fulfilling prophecy, and the larger banks are returning some of these funds back to the smaller ones to help capitalise them and prevent them from failing!

The whole banking system looks to be a shaky house of cards built on shifting sand, and one wonders how long before something significant breaks?

China announced further gold purchases in March, 18 tons may not seem a lot but they also keep all they produce, and they are the world’s biggest gold producer.

A Central Bank Digital Currency backed by gold is rumoured to be being planned by Russia and China, with the backing of the BRICS countries.



Companies on our watchlist in the news this week,

It was a generally quiet week leading up to the Easter weekend on the company news front, but we still managed a few snippets, including Maple Gold and Silver Tiger Metals releasing good drill results, and Gold Road releasing a very positive three year production plan.
To read the full stories just click on the links below.

Neometals to Increase Holding in Vanadium Recovery Project

Maple Gold Reports Final Assay Results at Eagle

Gold Road Resources 3 Year Gruyere Mine Outlook

Silver Tiger Metals Intersects 2m of 1,156 g/t Silver Eq

Boab Metals New Corproate Presentation

Mining Review 2nd April 2023

Read more:

Market Data

Week on week price changes

(US$ unless stated)


Metal prices

Gold price in UK £ 1616 +1.06%
Gold 2008 +1.93%
Silver 24.98 +3.57%
Palladium 1459 -1.88%
Platinum 1017 +1.19%
Rhodium 7350 -8.13%
Copper 4.01 -2.20%
Nickel 10.21 -2.95%
Zinc 1.27 -5.93%
Tin 11.32 -3.66%
Cobalt 15.54 0.00%
Manganese 3.36 +2.75%
Lithium 27401 -5.50%
Uranium 50.35 0.00%
Iron Ore 118.5 -5.95%
Coking Coal 294 -8.13%
Thermal coal 204 +8.22%
Magnesium 3252 +3.67%


Metal ETFs

GDX 34.43 +6.43%
GDXJ 41.36 +4.71%
Sil 31.59 +2.83%
SILJ 11.43 +2.79%
GOEX  (PCX) 28.74 -27.24%
GLD 186.49 +1.78%
COPX 38.64 -0.16%


Miscellaneous Data

Au / Ag Ratio 80.55 -2.73%
10 yr Tbond (TNX) 3.288 -2.72%
2 yr T bond 3.88 +2.92%
US  index (DXY) 102.1 -1.83%
HUI 271.7 +8.68%




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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.




At the time of writing the author holds shares in Gold Road Resources and Silver Tiger Metals.