Mining Review Sunday Update 14th November 2021
City Investors Circle weekly Mining Review features comments on Gold Road Resources, Apollo Consolidated, Tinka Resources, Orla Mining, Ascot Resources, and Silver Tiger.
Gold is heading upwards and sits at the US$1865 resistance level, as US inflation numbers rise. Newcrest took out Pretium in a US $2.8 billion deal.
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Tinka Resources Sylvia project, Peru
Mining Review Sunday Update 14th November 2021
City Investors Circle weekly Mining Review features comments on Gold Road Resources, Apollo Consolidated, Tinka Resources, Orla Mining, Ascot Resources, UEC, and Silver Tiger Metals.
Gold is heading upwards, and sits at the US$1865 resistance level, after rising 3% during the week and 7% over the last month. The cause is rising US inflation numbers, and investors are turning to gold as a store of value.
Stocks on our watchlist had a good week, with Orla Mining and Ascot Resources confirming progress in their respective construction projects, and Tinka Resources and Silver Tiger Metals reporting excellent exploration results.
UEC acquired Uranium One Americas to become the largest uranium miner in the USA.
Gold Road Resources threw in the towel in the bid battle for Apollo Consolidated, selling their blocking 19.9% stake to Ramelius Resources, for a quick profit, as Ramelius increased their bid by 6c.
Stocks on out watchlist in the news this week
Tinka Resources find 6m of 12.8 gpt Au and 2.7% Cu
Gold Road Resources abandons Apollo Bid, Sells Stake
Silver Tiger Metals Intersects 2,049 g/t Ag Eq Over 0.5m
UEC Acquires Uranium One Americas
Ascot Resources Q3 Results and Premier Update
Orla Mining Commissioning Camino Rojo
Market Data
Precious Metals
| Gold | 1865 | +3% |
| Silver | 25.31 | +5% |
| Palladium | 2053 | +1% |
| Platinum | 1081 | +4% |
| Rhodium | 13100 | -7% |
Gold rose on rising US inflation figures, and silver shows signs of stirring to follow suit. PGM’s held firm as car production is rising, although a shortage of magnesium may put a stop to that. That is a critical situation to monitor.
Base Metals
| Copper | 4.47 | 1% |
| Nickel | 9 | 1% |
| Zinc | 1.5 | 1% |
| Tin | 17.76 | 2% |
Copper rose slightly, which is surprising given the low reported copper stocks in the LME and Shanghai. Tin continues to rise every month, and is up an impressive 112% year on year. Nickel is another steady riser, up 30% YOY.
Battery Metals
| Cobalt | 26.85 | 5% |
| Manganese | 3.45 | 11% |
| Lithium | 27924 | 2% |
| Uranium | 44 | 0% |
Manganese stole the show, cobalt put on a spurt, and uranium is flat for the moment.
Bulk Commodities
| Iron Ore | 90 | -3% |
| Coking Coal | 333 | -2% |
Both coking coal and iron ore suffered from the Chinese government’s intervention, and closure of some smelters until the spring, reducing steel production.
PM ETF’s
| GDX | 34.77 | 6% |
| GDXJ | 47.99 | 7% |
| Sil | 41.91 | 6% |
| SILJ | 14.51 | 7% |
| GOEX | 33.59 | 9% |
| GLD | 174.445 | 3% |
Enjoyed a very positive week, as the figures above testify. Interestingly the gold juniors (GDXJ) outperformed their senior colleagues.
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This website is not sponsored, we are truly independent, and will always remain so.
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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Disclosure
At the time of publishing the author holds shares in Ascot Resources, Apollo Consolidated, Gold Road Resources, Silver Tiger Metals, and Orla Mining, bought in the market on the day of purchase at the prevailing price.