Mining Review Sunday Update 14th November 2021

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.



Tinka Resources Sylvia project, Peru

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



General mining news
Newcrest took out Pretium, owner of the producing Brucejack mine in B.C.’s Golden Triangle,  in a US $2.8 billion deal. For full details see HERE.
This is of particular interest to us as we have the neighbouring project part owned by Tudor Gold / American Creek (AMK.V) on our watchlist.

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.




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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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.