Mining Review Sunday Update 6th February 2022
Gold is oscillating around the US$1,800 level, and has been for some time, and the feeling is it will continue to do so for some time yet, unless some significant news moves it strongly in one direction.
Radisson Mining, Cabral Gold, and Eloro Resources all reported good drill results, and Neometals reported their financials.
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Eloro Resources Tumi
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Mining Review Sunday Update 6th February 2022
Gold is oscillating around the US$1,800 level, and has been for some time, and the feeling is it will continue to do so for some time yet, unless some significant news moves it strongly in one direction.
It was a pretty uneventful week for metal prices, although iron ore was up 4% and coking coal down 7%, the first significant divergence for a while.
Radisson Mining, Cabral Gold, and Eloro Resources all reported good drill results, and Neometals reported their financials, see the links below.
Many of our tier 2 exploration plays continue to fall despite gold bouncing a little and companies advancing their projects. This is obviously frustrating, but sooner or later investors will surely see the undervaluations in the mining sector and buyers will return again?
It has been confirmed that China and India have been buyers of gold recently, a good sign that these large countries that traditionally use gold as a store of value still do so.
Apart from gold, I think the metals to watch are in the EV space, namely lithium, copper, nickel, and cobalt. One wonders where all the metals required for the giga factories are going to come from?
I’m of the opinion that the extinction of the internal combustion engine by government mandate will be extended due to the shortage of metals required for EV’s.
Stocks from our watchlist in the news this week
Radisson Mining intersects 38.34 g/t gold over 2m
Neometals Published their Quarterly Activities Report
Cabral Gold Trenching returns 5m @ 8.3 g/t gold
Eloro Resources Intersect 239.7 g Ag Eq at Iska Iska
Market data
In US$
Precious metals
| Gold | 1808 | 1% |
| Silver | 22.49 | 0% |
| Palladium | 2298 | -3% |
| Platinum | 1029 | 2% |
| Rhodium | 16850 | 0% |
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Base metals
| Copper | 4.44 | -1% |
| Nickel | 10.53 | 2% |
| Zinc | 1.64 | -1% |
| Tin | 19.76 | 1% |
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Energy Metals
| Cobalt | 31.96 | 0% |
| Manganese | 3.41 | 2% |
| Lithium | 56986 | 0% |
| Uranium | 44 | -2% |
Bulk Commodities
| Iron Ore | 144 | 4% |
| Coking Coal | 410 | -7% |
| Magnesium | 6917 | 0% |
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Metal ETF’s
| GDX | 30.4 | 4% |
| GDXJ | 38.18 | 3% |
| Sil | 32.53 | 2% |
| SILJ | 11.18 | 2% |
| GOEX | 27.04 | 3% |
| GLD | 168.86 | 1% |
| COPX | 38.27 | 4% |