Mining Review – Sunday 28th March 2021

The elephant in the room this week is the confiscation of Resolute Mining’s Bibiani licence, by the Ministry of Mines, Ghana. This is very disappointing, and we await the reasons for this before passing judgement on the country of Ghana.

Most metals were moribund, but Rhodium took a 15% hit, after a long winning streak.

 

 

 

Mining Review – Sunday 28th March 2021

The elephant in the room this week is the confiscation of Resolute Mining’s Bibiani licence, by the Ministry of Mines, Ghana. This is very disappointing, and we await the reasons for this before passing judgement on the country of Ghana,

Resolute had already sold the Bibiani gold project to a Chinese group for around $100 million, so the loss of the licence at this late stage, without any warning,  is particularly painful for shareholders.

Until now I have always considered Ghana a tier 1 jurisdiction, but may have to review that depending on the reasons given for the mine confiscation.

Most metals were moribund in the last week, but Rhodium took a 15% hit, after a long winning streak.

 

 

Stocks we follow in the news last week

Radisson Mining Resources – Drilled 57 g/t Au over 2.8m at O’Brien

Resolute Mining  – Their Bibiani licence was terminated by the government of Ghana

Silver Tiger Metals –  Drilled 1.6m of 1355 g/t silver equivalent.

Fosterville South – Reported high grade Gold essays at Enoch’s Point

Red River Resources – Trading halt due to administrative  oversight

03 Mining – Intersected high grade gold at Marban

Apollo Consolidated – Announced a new gold discovery at Lake Rebecca.

 

Precious Metals

Gold slipped back a little as US 10 year Treasury Bonds continued to rise, and the US dollar strengthened a little too, despite the vast amount of money being printed, and an uncertain economic outlook.

Rhodium retraced some of the recent strong rise falling 15% month on month.

Gold	1733	↓	-1%
Silver	25.03	↓	-5%
Palladium	2598	↑	2%
Platinum	1182	↔	0%
Rhodium	23000	↓	-15%

 

 

Base Metals

Tin is gyrating, up 5% last week, down 8% this week. Otherwise a quiet week.

Copper	4.07	↔	0%
Nickel	7.4	↑	2%
Zinc	1.28	↔	0%
Tin	12.36	↓	-8%

 

 

Energy Metals

Cobalt	23.75	↓	-1%
Manganese	3.7	↔	0%
Lithium	12845	↑	1%
Uranium	29.6	↑	8%

 

 

Bulk Commodities

Iron Ore	154	↓	-4%
Coking Coal *	236	↓	-4%

* Coking coal price as per the Dalian Exchange.

 

 

Mining ETF’s

GDX	32.77	↓	-3%
GDXJ	45.93	↓	-5%
Sil	40.36	↓	-6%
SILJ	14.61	↓	-6%
GLD	162.24	↓	-1%

 

The Mining Review for the 28th March is complete.

 

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

 

Disclosure

At the time of writing the writer holds shares in Silver Tiger Metals and Fosterville South, bought in the market at the prevailing price on the day of purchase.