Mining Review Sunday Update 21st August 2022
Another poor week for gold as the US dollar (DXY) climbed higher, reaching 108.
Companies making news this week included American Creek, Cartier Resources, Karora Resources, Maple Gold, Rokmaster, and Uranium Energy Corp.
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Ascot Resources – Big Missouri portal
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Mining Review Sunday Update 21st August 2022
Another poor week for gold as the US dollar (DXY) climbed higher, reaching 108, a recent high.
The rise in the dollar is being assisted with so called “good news” being released about the state of the US economy, and the ridiculous denial that is is already in recession after two quarters of negative growth, the traditional definition.
This of course was negative for gold, silver, and other metal prices.
Industrial metals are declining due to low growth fears in the Chinese economy, and once again reports of brutal lockdowns of whole cities for a few covid cases.
Chile continues to make the news for the wrong reasons, this time in connection with a large 36m sinkhole that has appeared at the edge of the Alcaparrosa copper mine, owned by Lundin (80%) and Sumitomo (20%), in the Atacama region.
Immediately a determination seems to have been made that the company is to blame for “overexploitation”, and “severe penalties” are being threatened. Lundin are investigating the cause.
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Companies making news this week included American Creek, Cartier Resources, Karora Resources, Maple Gold, Rokmaster, and Uranium Energy Corp.
Karora Resources has bounced back after some disappointing recent financials, despite record production, with a high grade course gold discovery at its Beta Hunt Mine, in WA.
The other piece of noteworthy news was that UEC and UEX Corp. came to an agreement regarding the terms of the proposed takeover of the latter, after the intervention of Dennison Mines had threatened to scupper the deal.
For the full stories, please click the links below;
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Companies on our watchlist in the news this week;
Karora Resources Discovered High-Grade Coarse Gold at Beta Hunt, WA
Cartier Resources Commenced a new Chimo Drill Campaign
Maple Gold drilled 24.4 G/T Gold Over 1m
Uranium Energy Corp And UEX Reached a New Takeover Agreement
American Creek Resources Reported a positive Drill Hole Extension
Rokmaster Resources Private Placement announced
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Market Data
Weekly price movements
All in US$
Metal Prices
| Gold | 1748 | -3.13% |
| Silver | 19.06 | -8.45% |
| Palladium | 2060 | -7.37% |
| Platinum | 896 | -7.15% |
| Rhodium | 12900 | -5.15% |
| Copper | 3.64 | -1.33% |
| Nickel | 9.91 | -5.44% |
| Zinc | 1.62 | -4.14% |
| Tin | 11.14 | -1.24% |
| Cobalt | 22.12 | 4.34% |
| Manganese | 3.42 | 0.88% |
| Lithium | 68349 | 0.40% |
| Uranium | 48.7 | 0.00% |
| Iron Ore | 101.7 | -9.03% |
| Coking Coal | 280 | 24.44% |
| Thermal coal | 300 | 14.94% |
| Magnesium | 3788 | 7.80% |
| Lumber | 520 | -11.56% |
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Metals ETFs
| GDX | 25.25 | -7.24% |
| GDXJ | 31.33 | -9.27% |
| Sil | 24.22 | -9.29% |
| SILJ | 9.11 | -11.12% |
| GOEX (PCX) | 22.36 | -9.07% |
| GLD | 162.72 | -3.07% |
| COPX | 30.63 | -4.88% |
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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
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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.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
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Disclosure
At the time of writing the author holds shares in American Creek and Karora Resources, bought in the market at the prevailing price on the days of purchase.
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