Mining Review – Sunday Update 27th June 2021
Another poor week for gold, precious, and industrial metals, as US dollar strength and the prospect of increased interest rates (no matter how distant in the future).
Stocks have reacted accordingly, with even undervalued companies at the asset level such as Colonial Coal ($CAD) suffering. We are, of course, in the midst of the summer doldrums in the UK and Canada, and Australian tax loss selling.
City Investors Circle Mining Review – Sunday Update 27th June 2021
Another poor week for gold, precious, and industrial metals, as US dollar strength and the prospect of increased interest rates (no matter how distant in the future).
Stocks have reacted accordingly, with even undervalued companies at the asset level such as Colonial Coal (TSX.V: CAD) suffering.
We are, of course, in the midst of the summer doldrums in the UK and Canada (“sell in May”), and Australian tax loss selling, which ends next week.
Stocks on our watchlist in the news
Gold Royalty Corp. – Announced they are to merge with Ely Gold Royalty
GoldMining Inc. – Announced an updated Mineral Resource Estimate for their Whistler project in Alaska, USA.
Minera Alamos – Announced they are ready for the commissioning of leach operations at Santana, Sonora, Mexico
Boab Metals – We commenced coverage of Boab, a high quality lead mine with silver and zinc credits located in WA.
Roxgold – Reported high grade gold intercepts in step out and infill drilling at Séguéla.
.
Virtual conferences and Zoom meetings.
The online virtual conferences for the first half of the year have now completed, and thank goodness for that!
I have now attended 128 virtual one to one meetings since the start of the year, and it’s all getting a bit much if I’m honest. I’m pleased we have a couple of months’ break now, and I’ll ignore the forthcoming Canadian conferences.
Global Mining Finance have confirmed a live show in Moorgate on the 3rd November, and 121 have confirmed a hybrid show a couple of weeks later, so finally it looks as though we will be meeting personally in a few months time, pandemic permitting of course.
A day full of Zoom meetings can be draining, far more than personal meetings, so I for one am glad that personal meetings are returning. There simply isn’t an alternative to personal engagement, in my opinion.
Market Data
Precious metals
| Gold | 1781 | +1% | |
| Silver | 26.1 | +1% | |
| Palladium | 2646 | +7% | |
| Platinum | 1110 | +6% | |
| Rhodium | 19250 | -11% |
Rhodium is taking a kicking as the price falls back as quickly as it rose a month or so ago, as the catalytic metals roared ahead.
Gold and silver rose slightly, due to a last minute tick up just before the close of the market on Friday as most traders had already closed their books for the weekend.
.
Base metals
| Copper | 4.26 | 0% | |
| Nickel | 8.25 | +5% | |
| Zinc | 1.31 | -2% | |
| Tin | 14.56 | -2% |
Nickel was the star riser this week, on fears of Indonesian nickel smelter issues due to covid 19 cases rising there.
.
Energy Metals
| Cobalt | 20.64 | +3% | |
| Manganese | 3.22 | -6% | |
| Lithium | 12394 | -1% | |
| Uranium | 32.3 | 0% |
Bulk Commodities
| Iron Ore | 207 | -1% | |
| Coking Coal | 164 | +9% |
We are back to diversification again as iron ore fell back slightly whilst coking coal rose a whopping 9% in a week.
Strangely, Colonial Coal (TSX.V: CAD) fell back after some selling pressure, despite the higher coking coal price.
.
Miscellaneous Data
| Au / Ag Ratio | 68.73 | +1% | |
| 10 yr Tbond | 1.528 | +6% | |
| US $ index | 91.81 | -1% | |
| HUI | 269.04 | -1% |
After falling for a few weeks, the US 10 year Tbond rose strongly this week, on the back of rising US inflation concerns. This was the biggest weekly rise since March.
.
The City Investors Circle Mining Review is complete.
=======
.
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.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
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.
.
To read our full terms and conditions, please click HERE