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 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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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.
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