Mining Review – Sunday Update 11th April 2021
Gold continued its recent rise as the US Treasury 10 year bond fell back 4%, and the US $ Index 1%.
The Ukraine military tension seems to be at a critical level, with rumours of an attempted invasion of Crimea. Any action will result in an upturn in the price of gold.
Mining Review – Sunday Update 11th April 2021
Gold continued its recent rise as the US Treasury 10 year bond fell back 4%, and the US $ Index 1%.
The Ukraine military tension seems to be at a critical level, with rumours of an attempted invasion of Crimea, as well as the Donbass area, by Ukrainian troops. Any such action, which is surely suicidal? will result in an upturn in the price of gold.
The European Gold Forum run by the Denver Gold Group takes place this week, virtually of course. This is the major gold conference in Europe, and we may see a higher interest in gold companies after the conference as delegates purchase stocks they find interesting.
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Stocks we follow in the news last week
- Enviroleach – Provided a market update
- Los Cerros – Drilled their highest grade gold intercept ever at La Quinchia.
- Fosterville South – Drill target access agreed.
- Silver Tiger Metals – Intersected 5.6 m of 1010 Oz Ag Eq at the Benjamin Vein
- Zen Graphene Solutions – Share price falls as mask sales suspended over health concerns
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Precious Metals
Gold was buoyed by the US 10 year Tbond and US $ Index both falling.
| Gold | 1744 | ↑ | 1% |
| Silver | 25.26 | ↑ | 1% |
| Palladium | 2600 | ↑ | 1% |
| Platinum | 1200 | ↓ | -1% |
| Rhodium | 25500 | ↑ | 3% |
Base Metals
A decent week with Chinese demand for industrial metals strong, and some copper exports from Chile being impacted by export restrictions due to covid-19
| Copper | 4.06 | ↑ | 2% |
| Nickel | 7.6 | ↑ | 5% |
| Zinc | 1.275 | ↑ | 2% |
| Tin | 12.58 | ↑ | 1% |
Energy Metals
| Cobalt | 22.61 | ↓ | -1% |
| Manganese | 3.41 | ↓ | -1% |
| Lithium | 12655 | ↓ | -1% |
| Uranium | 30.85 | ↑ | 1% |
Bulk Commodities
Prices remained strong despite the Chinese government saying they will limit steel production for pollution reasons. Clearly the steel will have to be made somewhere, so is China going to happily turn away that business? I seriously doubt it, pollution or no pollution.
| Iron Ore | 165.9 | ↑ | 6% |
| Coking Coal * | 148.5 | ↔ | 0% |
* Coking cola price is FOB ex Australia
The Mining Review is published each Sunday.
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Mining Review – Disclosure
The writer holds Silver Tiger Metals and Fosterville South Exploration Ltd shares, bought in the market at the prevailing price on the day of purchase.