Mining Review 9th March 2025

Mining Review 9th March 2025

I attended the world’s largest mining conference, the PDAC in Toronto last week.

Despite another record attendance being declared by the organisers, and a record gold price, I felt a negative vibe in the show, when there should have been a positive feeling.

 

 

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Serabi Glold

Serabi Gold Stand at PDAC 2025

 

 

City Investors Circle Mining Review 9th March 2025

 

I attended the world’s largest mining conference, the PDAC in Toronto last week.

Despite another record attendance being declared by the organisers, and a record gold price, I felt a negative vibe in the show, when there should have been a positive feeling.

Once again the show was saturated with mining juniors desperately seeking funding, and as an investor that’s not what I’m looking for.

The days of the junior doing some drilling, declaring the result, the share price rising, and a placing taking place after the rise seem to be well and truly over, that model is broken in my opinion.

Many companies have had limited progress in the last year due to limited funds, and as a result are simply trying to attract in enough new money to pay salaries and running costs, and, hopefully, drill a few new holes to show some progress.

This is a snail’s pace exploration programme and it no longer excites investors.

The market is full of these sort of companies and investors have seemingly had eneough. I think a new model needs to happen otherwise in a few year’s time there will be a dearth of exploration projects.

I think they need to properly regulate how a junior mining company can operate, as a starting point. No more confetti options for management and insiders for a start.

Then stop management putting projects they personally own into the company, unless they can verifiably demonstrate the price is the same as they purchased the project for.

Encourage senior mining companies to mentor and invest in juniors so regulated, with senior staff assisting to develop projects.

If something is not done I fear investing in junior mining compnies is going to cease, as everyone can see the drawbacks.

 

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Walking around the floor at PDAC, despite the “no soliciting’ signs, it was apparent there was a multitude of out of work miners and geologists, along with an army of service providers, touting their services.

It seems as though the mining industry is becoming dwarfed by this legion of people seeking business opportunities and financial gain.

The number of companies exhibiting in the “Investor’s” Exchange was lower than last year, and it makes me wonder whether this is because of the absense of investors and the constant barrage of service providers going around the booths?

At some point companies will surely realise that they are not meeting investors at such shows and cease attending themselves.

As I mentioned before, the junior mining sector is in urgent need of significant change or it will die.

 

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Market Data

Weekly Price Changes

(US$ unless stated)

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Metal Prices Price Weekly % change
Gold price in UK £ 2259 -1.01%
Gold 2813 -1.57%
Silver 32.58 4.29%
Palladium 942 5.72%
Platinum 966 2.11%
Rhodium 5300 12.77%
Copper 4.68 9.60%
Nickel 7.44 6.29%
Zinc 1.31 3.97%
Tin 14.78 -0.47%
Cobalt 11.44 17.09%
Manganese 4 -4.76%
Lithium 10020 1.33%
Uranium 64.1 -1.38%
Iron Ore 106.9 0.00%
Coking Coal 184.7 -1.49%
Thermal coal 106.5 -3.18%
Metal ETFs Price Weekly % change
GLD 268.39 1.67%
GDX 41.64 -0.68%
GDXJ 51.93 -0.61%
Sil 36.41 -2.31%
SILJ 11.32 -3.33%
GOEX  (PCX) 34.76 -0.68%
URA 23.94 -7.03%
COPX  39.95 -5.76%
HUI  326.77 -1.63%

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Click HERE for live Spot Metal Prices 

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Declaration

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