Mining Review Sunday Update 11th July

Mining Review Sunday Update 11th July

Gold has edged back up over $1,800 per ounce, as it tries to shrug off the mid June low of around $1760.

One major factor was a sharply lower US Bond yield, and a slightly weaker US dollar.



LLos Cerros Tesorito project panoramic view



Mining Review Sunday Update 11th July 2021

The last week has proved positive for mining sector investors, as Gold has edged back up over $1,800 per ounce, as it tries to shrug off the mid June low of around $1,760.

One major factor was a sharply lower US Bond yield, and a slightly weaker US dollar. The FED seems to be trying to talk the 10 year Tbond yield down, and it seems to be working.

Summer is of course normally the doldrums for the stock markets, and gold, yet both are rising, as all that newly created money has to find a home.

As the summer progresses we can expect lots of drill results to come out, and Apollo consolidated, Ascot Resources, Los Cerros, and 03 Mining all reported positive news releases on the drill front last week, please see below. (Click on any item to see the full news release).

With gold stocks generally still suffering, and well off recent highs, this might turn out to be a prudent time to pick up shares whilst the companies are still unloved, in my opinion.



Stocks on our watchlist in the news this week

Los CerrosDrill results validated Ceibal as a promising gold porphyry target 

Ascot ResourcesIntercepted high grade gold and silver west of the Premier Mill

Apollo ConsolidatedReported significant new gold intercepts whilst RC drilling at Lake Rebecca

NeometalsAnd JV partner SMS Group commissioned their battery recycling plant in Germany

03 MiningExpanded the underground mineralisation at its Marban and Alpha properties

Orla MiningRaised US$35 million via a non brokered placing at C$4.75 per share.



Market Data


Precious Metals

Gold 1808 +1%
Silver 26.07 -1%
Palladium 2753 +1%
Platinum 1095 +1%
Rhodium 19450  0%

Whilst gold was positive again this week, for some reason silver was negative, which is a bit strange. The PGM metals were also positive, making silver’s slight fall all the more bemusing.



Base Metals

Copper 4.3 +1%
Nickel 8.35 +2%
Zinc 1.33  0%
Tin 14.82  0%

Copper remained buoyant despite the Chine government releasing stocks from their strategic reserves to try and soften the price and prevent speculation.

Tin remains the best performing metal in 2021 so far.



Energy Metals

Cobalt 22.89  0%
Manganese 3.16 -1%
Lithium 12329  0%
Uranium 32.3 +1%



Bulk Commodities

Iron Ore 205 +1%
Coking Coal 201 +5%

Both commodities are back in sync this week, with coking coal rising a whopping 5% in a single week, which has helped Colonial Coal (TSX.V: CAD) reverse its recent downtrend with a quick 40% rise in price.

Some Chinese coking coal mines have been shut for safety inspections, but are opening again now so we will need to keep a close eye on the coal price in the coming weeks.


The Mining Review Sunday Update 11th July 2021 is complete.




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At the time of writing the author held shares in Los Cerros, Ascot Resources, Apollo Consolidated, 03 Mining, and Orla Mining.