Mining Review – Sunday Roundup 25th October

The precious metal markets were neutral this week, everything on hold awaiting US stimulus talks to conclude, and that election, of course.

The US election is very close now, and it will be a relief when it’s over, I think most people are tired of it now. There is the possibility that postal voting may change the initial result, and civil unrest may ensue.

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City Investors Circle London – Mining Review – Sunday Roundup 25th October

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The precious metal markets were neutral this week, everything on hold awaiting US stimulus talks to conclude, and the election of course.

The US election is very close now, and it will be a relief when it’s over, I think most people are tired of it now. There is the possibility that postal voting may change the initial result, and civil unrest may ensue.

In the short term a Trump victory would be good for the markets, good for mining, and good for oil and gas production in the USA.

Base metals had a mixed week, copper trod water as the Chinese announced they will resume imports of quality scrap metal after a moratorium on such imports for a while.

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Stocks on our watchlist

Fiore Gold (TSX.V: F) reported record revenues and a production increase of 11% from their Pan Gold Mine in Nevada, USA. Treasury stands at around $23.5 million.

Westhaven Gold (TSX.V: WHN) reported high grade intercepts at their Shovelnose project in B.C., Canada.

Canuc Resources (TSX.V: CDA)  reported increased activity in the vicinity of their San Javier project in Mexico, including Osisko’s new company, Osisko Developments, and Barksdale.

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Precious Metals

A water treading week as the US election day approaches, and the markets look for direction. The US dollar index rose, so all the main precious metals fell, as you would expect.

Gold	1901	⇑
Silver	24.61	⇑
Palladium	2391	⇑

 

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Base Metals.

generally prices nudged up slightly with reports that China continues to import copper, and has reversed their ban on importing “quality” copper scrap. Nickel continues to do well on EV battery usage expectations.

Copper	3.12	⇑
Nickel	7.12	⇑
Zinc	1.15	⇑
Iron Ore	117	⇑
Manganese	3.35	⇓
Coking Coal	140	⇑

 

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Precious Metal ETF.

A poor week, despite the precious metals rising, all the ETF’s lost a bit of ground, except for the junior silver miners, which held steady.

GDX	38.82	⇓
GDXJ	56.44	⇓
Sil	45.2	⇓
SILJ	14.68	⇒

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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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