Mining Review Sunday Update 28th November 2021

This week has been a game of two halves for gold, starting with the weakness created by the confirmation that Biden has renewed Jerome Powell’s chair of the FED, and then the news of the new covid variant sent investors back into gold as a safe haven.

 

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City Investors Circle – Mining Review Sunday Update 28th November 2021

This week has been a game of two halves for gold, starting with the weakness created by the confirmation that Biden has renewed Jerome Powell’s chairmanship of the FED, and then the news of the new covid variant sent investors back into gold as a safe haven.

 

Coking Coal is having a poor time after the recent high, sending Colonial Coal back down a tad as a result. Colonial has had a strong run so there was bound to be some profit taking, but the price remains strong.

The new covid variant is causing a panic, and it remains to be seen whether it kills the rise in base metal prices. Gold initially rose after the variant news came out, but fell back later in the day.

The takeover of Kirkland Lake by Agnico Eagle was completed.

 

Stocks on our watchlist in the news this week

Bardoc Gold Confirms Zoroastrian Extension at depth

Lithium Power International AGM Presentation

Newcore Gold Nyam Drilling Finds High Grade Gold at Enchi, Ghana

Westhaven Gold Halts Drilling at Shovelnose due to flooding

American Creek Reprices Stock Options Lower

Los Cerros Ceibal is a major gold porphyry discovery

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Market Data

(All figures are in US$)

 

Gold	1792	-3%
Silver	23.09	-6%
Palladium	1751	-17%
Platinum	954	-12%
Rhodium	13700	+2%

A poor week all round, with gold and silver suffering due to Jerome Powell’s retention of his chairmanship of the FED, and the rest of the PGM’s because of lower car production due to the world shortage of semi-conductors.

 

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Copper	4.51	+2%
Nickel	9.56	+6%
Zinc	1.56	+4%
Tin	18.6	+5%

Base metals enjoyed a positive week, and tin and nickel continued their strong rise during the last year.

 

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Cobalt	28.39	+6%
Manganese	3.52	+3%
Lithium	29023	+3%
Uranium	48.05	+2%

The energy metals finally stirred into life after a brief hiatus.  Cobalt outshone the rest, and lithium continues to rise on tight supply rumours.

 

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Iron Ore	103.9	+21%
Coking Coal	287	-8%

After a few torrid weeks where its price has more than halved, iron ore finally rose back over the $100 mark.  Coking coal continues its retreat from the highs, despite continued commentary suggesting shortages in China.

 

The City Investors Circle Mining Review Weekly Market Updated is concluded.

 

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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 poster holds shares in American Creek, Bardoc Gold, Colonial Coal, Los Cerros, and  Newcore Gold, bought in the market at the price prevailing on the days of purchase.