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. 

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City Investors Circle Mining Review 9th April 2023

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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.

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Read more: http://www.city-investors-circle.com/archives/#ixzz7yHcN8PbF

Market Data

Week on week price changes

(US$ unless stated)

Metal prices

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Metal ETFs

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Miscellaneous Data

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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 holds shares in Gold Road Resources and Silver Tiger Metals.

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