Mining Review Sunday Update 4th September 2022

Mining Review 4th September 2022

Another poor week for gold and all metals as the US dollar again rises on interest rate hike anticipation. The price of gold in British pounds is up 3% in a month, due to the weakness of the pound. Uranium, up 8% in a week was the sole positive.

Cornish Metals and Kootenay Silver reported good drill results in an otherwise quiet week. 

 

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Cornish Metals South Crofty Headframe

Cornish Metals South Crofty Mine Headframe

 

City Investors Circle Mining Review 4th September 2022 – Another poor week for gold and all metals as the US dollar again rises on interest rate hike anticipation.

The price of gold in British pounds is up 3% in a month, due to the weakness of the pound.

Uranium, up 8% in a week was the sole positive.

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Companies from our watchlist in the news this week

Cornish Metals and Kootenay Silver reported good drill results in an otherwise quiet week.

Karora Resources is pressure after recent poor results, and if not already in bargain basement territory must surely be close?  Karora is down 62% from a high of C$7.45, which admittedly was looking a bit frothy, but now it looks like the complete opposite.

Wesdome is out of favour too, again for poor performance, although it posted a recovery on Friday.

 Orla Mining – Funds increased their holdings in the company

 Kootenay Silver Drills 574 gpt Silver

 Market Review For August 2022 Published

 Calidus Resources Raised AUS$20 Million

 Cornish Metals Reported High Grade Copper and Tin

 Impact Minerals Reported Outstanding Results

 Mining Review Sunday Update 28th August

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Market Data – As at Sunday 4th September 2022

.Weekly price changes (All US$)

.Metals

Gold in UK £ 1488 0.47%
Gold 1712 -1.61%
Silver 18.06 -4.19%
Palladium 2025 -3.89%
Platinum 839 -3.01%
Rhodium 13800 -1.08%
Copper 3.39 -8.38%
Nickel 9.31 -3.42%
Zinc 1.5 -8.54%
Tin 9.81 -12.25%
Cobalt 23.26 0.00%
Manganese 3.13 -6.85%
Lithium 69040 -0.36%
Uranium 53.5 +8.52%
Iron Ore 95.4 -7.65%
Coking Coal 285 -9.52%
Thermal coal 312 0.00%
Magnesium 3847 +4.91%
Lumber 493.8 -5.76%

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ETF’s

GDX 23.79 -4.46%
GDXJ 29.29 -5.33%
Sil 23.13 -3.95%
SILJ 8.92 -4.39%
GOEX  (PCX) 20.69 -5.40%
GLD 159.26 -1.55%
COPX 29.05 -8.82%
Au / Ag Ratio 95.81 4.27%

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.Miscellaneous

Au / Ag Ratio 95.81 +4.27%
10 yr T bond (TNX) 3.19 +4.83%
US  index (DXY) 109.61 +0.71%
HUI 187.31 -5.16%

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