Mining Review 14th August 2022
A busy week for news in the mining space, and gold pushed back to finish the week at US$1805 Oz.
Wiluna Mining made the headlines for the wrong reasons, whereas Calidus Resources, Impact Minerals, Orla Mining, and UEC made news for diverse positive reasons.
Mining Review 14th August 2022
A busy week for news in the mining space, and gold pushed back to finish the week at US$1805 Oz, and other metals also rose, including copper, 6%, and zinc, 4.5%.
It was mixed though, with iron ore and cobalt heading downwards.
Wiluna Mining made the headlines for the wrong reasons, with some Australian media suggesting the board discussed going into administration BEFORE the recent A$63 million placing. If that is true, then fireworks are surely going to follow.
As board meetings should be minuted, it should be relatively east to establish the truth, and we await further updates.
Calidus Resources, Impact Minerals, Orla Mining, and UEC all made news for diverse positive reasons, please click the links below
Since the left wing anti mining President of Chile, Gabriel Boric, was elected, that country’s excellent reputation as a mining jurisdiction is being rapidly trashed by the left wing government denying permits, as a way of stopping mining companies developing their projects.
RIO2 is one example, there are quite a few others now, with various pretexts being used to try and justify an unjustifiable decision. Sadly Chile is the number one exporter of copper, and if this continues all exploration and undeveloped projects will surely cease? If they do, where will the world obtain all the copper required for the EV revolution and the “green agenda”?
The number two exporter of copper is of course Peru, where there are interminable lockdowns and lockouts at mines, as the local people protest at their suffering at the hands of the mining companies, without receiving any financial benefit.
Stocks on our watchlist making news this week;
Week on week price changes (US$)
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