Mining Review Sunday Update 10th April 2022
City Investors Circle Mining Review for the 10th April 2022.
Companies covered include, Ascot Resources, Calidus Resources, Canuc Resources, Cyprium Metals, Gold Road Resources, and Orla Mining.
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Calidus Resources Warrawoona mine, Pilbara, Western Australia
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City Investors Circle – Mining Review Sunday Update 10th April 2022
Companies covered include, Ascot Resources, Calidus Resources, Canuc Resources, Cyprium Metals, Gold Road Resources, and Orla Mining.
Gold Road Resources provided the biggest news of the week with a recommended bid for DGO Gold.
DGO has exploration projects in the Pilbara and Murchison areas of Western Australia. DGO’s Mallina tenements adjoin De Grey Mining’s Mallina Gold Project and share a similar geological and structural setting to De Grey’s tenements.
Calidus Resources also cheered the market by announcing their first gold pour is on track at their Warawoona Gold Project in the Pilbara.
Pure Gold Mining provided the worst performance of the week by announcing they need to raise C$50 million to bring their mine back on track. This announcement to the market without a financing in place has naturally killed the share price, as holders sell to await the announcement of the financing. This has driven the price down from 69 cents before the announcement to 24.5 cents currently, and still falling.
To announce a substantial financing was required before it was in place was suicidal, as the market is now highlighting. Pure are in our recovery watchlist, and that looks like they are going to be a good candidate for recovery once the financing details are announced.
City Investors Circle watchlist companies making news this week
GoldMining Inc. Issued a Letter to Shareholders
Calidus Resources Confirm First Gold Pour on track
Gold Road Resources Takeover Offer for DGO Recommended
Canuc Resources Closed a Private Placement
Cyprium Metals Drilling Results Extend Nifty West
Ascot Resources to “Seek New Financing Options”
Orla Mining – Confirmed Commercial Production at Camino Rojo
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General mining news
Chile seems ready to embark on a self destruct course, after announcing it’s going to fine the three largest copper miners, BHP, Albermarle, and Antofagasta, for excessive water extraction in the Atacama region, see HERE.
Market Data (US$)
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Precious metals
| Gold | 1947 | 1.09% |
| Silver | 24.78 | 0.69% |
| Palladium | 2425 | 9.48% |
| Platinum | 979 | -0.51% |
| Rhodium | 20250 | 10.05% |
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Base Metals
| Copper | 4.67 | -0.85% |
| Nickel | 15.2 | 2.29% |
| Zinc | 1.93 | 2.66% |
| Tin | 20.09 | 0.90% |
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Energy metals
| Cobalt | 37 | -1.07% |
| Manganese | 3.96 | -5.26% |
| Lithium | 74108 | -0.12% |
| Uranium | 62.8 | 10.76% |
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Bulk commodities
| Iron Ore | 157.7 | -1.62% |
| Coking Coal | 380 | -27.62% |
| Magnesium | 6482 | -0.60% |
| Lumber | 949.9 | -3.37% |
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Metal ETF’s
| GDX | 38.67 | -2.08% |
| GDXJ | 48.42 | 0.46% |
| Sil | 37.89 | 1.26% |
| SILJ | 14.46 | -0.28% |
| GOEX | 33.73 | 1.29% |
| GLD | 181.47 | 1.10% |
| COPX | 45.44 | -2.70% |
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Miscellaneous data
| Au / Ag Ratio | 79.46 | 1.64% |
| 10 yr T bond | 2.71 | 13.39% |
| US index (DXY) | 99.84 | 1.29% |
| HUI | 322.53 | 0.36% |
The City Investors Circle Mining Review is complete.
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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.
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Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
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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.
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