Mining Review Sunday Roundup 8th Nov.

Mining Review – Sunday Roundup 8th November 2020

Counting in the US elections is, quite incredibly, still ongoing, but it seems Joe Biden is very close to being declared the winner, Trump lawsuits permitting of course.

Biden is seen as being positive for the gold price as the expectation is as a socialist he will be printing copious amounts of new money, further eroding the value of the US dollar, and thus increasing the gold price.

Mining Review – Sunday Roundup 8th November 2020

Counting in the US elections is, quite incredibly, still ongoing, but it seems Joe Biden is very close to being declared the winner, Trump lawsuits permitting of course.

Gold has soared this week once it became clear that Biden was going to win the election, rising come $70 in a week.

News from Stocks on our watchlist

Bardoc Gold (ASX: BDC) Reported the discovery of extensive gold mineralisation at their North Kalowna Star project, located around 20 miles from their Bardoc Gold project site, near Kalgoorlie in WA.

Orla Mining (TSX: OLA) Drew down US $59 million representing the second tranche of their US $125 million facility for the construction of their Camino Rojo gold project in Zacatecas, Mexico. The stock rose strongly and is now close to its all time high of C$7.80.

Apollo consolidated (ASX: AOP) Reported that all five drill holes had hot gold at their Lake Rebecca gold project in WA. Apollo are busy drilling in several locations at the same time so we can expect plenty of newsflow in the coming months. They are well cashed up with around A$ 20 million in treasury.

Several of our companies are trading close to their recent all time highs, including Zen Graphene Solutions, which is shooting up, Radisson Mining, Nouveau Monde, and Canuc Resources.

Precious Metals

Gold has had a US election inspired strong week, as has silver, and palladium. With a Biden victory all but in the bag, we can expect to see precious metals rise from here as more dollars are printed.

Gold	1952	⇑
Silver	25.62	⇑
Palladium	2495	⇑

Base Metals

Copper is back to a three year high, as China shuns imports from Australia and is sourcing copper elsewhere. Iron Ore rose slightly as Chinese steel production soars as stimulus spending increases demand. Zinc also rose strongly. Manganese fell again despite being labelled as the metal for the future by the EV industry.

Copper	3.08	⇑
Nickel	7.01	⇑
Zinc	1.18	⇑
Iron Ore	113.4	⇑
Manganese	3.22	⇓
Coking Coal	130	⇓

Precious Metals ETF.

As you would expect the ETF’s had a strong week as gold rose. The GDXJ is the index to compare your junior gold miner to, but bear in mind that there are some huge companies listed on there, so if you own a junior stock, there is no real comparison.

GDX	41.42	⇑
GDXJ	59.64	⇑
Sil	48.21	⇑
SILJ	15.98	⇑

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