Mining Review Weekly Update 5th September 2021
The price of gold rose on Friday after the US job numbers disappointed, with a big miss against expectations. Coking coal continues to soar in price.
American Creek, Bardoc Gold, Cornish Metals, and Neometals all reported news this week.
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Bardoc Gold Zoroastrian deposit map, WA.
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Mining Review Weekly Update 5th September 2021
The price of gold rose on Friday after the US job numbers disappointed, with a big miss against expectations. Coking coal continues to soar in price.
American Creek, Bardoc Gold, Cornish Metals, and Neometals all reported significant news this past week.
The price of coking coal in China continues to soar to stratospheric levels, and one wonders how much longer the Chinese will continue to boycott Australian coking coal and impose such a high cost on themselves in the process? Colonial Coal (CAD.V) looks to be an ever more valuable bid target.
Mining news in general
Strikes at further Chilean copper mines look likely after recent settlements at some of the larger mines. The price of copper should remain stable on possible supply interruptions.
Readers may remember a few weeks ago I commented on Centerra Gold losing their gold mining operation in Kyrgyzstan? Well this is now a developing story, as Centerra has warned that Kyrgyzstan’s Kumtor gold mine is at risk of potentially catastrophic events because the central pit of the mine has become flooded with water that has run down the pit walls.
Chile has passed the new mining tax code, and it advances to the next stage of their parliament. This is not good news for miners, but apparently there is a veto possible before it is passed into law, so we have to hope that common sense prevails.
News from stocks on our watchlist
American Creek Resources – Reported 972 m of 1.265 g/t gold at Treaty Creek, Yukon.
Bardoc Gold – Plan to accelerate early production and cashflow growth
Cornish Metals – Reported United Downs drill results.
Neometals – Terminated their Indian lithium refinery JV project.
City Investors Circle – Issued their August 2021 Market Review
Market Data
| Gold | 1827 | 1% | 4% |
| Silver | 24.68 | 3% | 1% |
| Palladium | 2356 | 0% | -8% |
| Platinum | 1021 | 1% | 5% |
| Rhodium | 15750 | -7% | -13% |
| Copper | 4.24 | 0% | -2% |
| Nickel | 8.58 | 0% | -2% |
| Zinc | 1.35 | -1% | 0% |
| Tin | 15.63 | 1% | -4% |
| Cobalt | 22.73 | 0% | -4% |
| Manganese | 2.89 | 1% | -6% |
| Lithium | 18581 | 12% | 41% |
| Uranium | 33.75 | 2% | 5% |
| Iron Ore | 140.6 | -9% | -15% |
| Coking Coal | 259 | 24% | 31% |
| GDX | 33.28 | 2% | 0% |
| GDXJ | 43.98 | 2% | 1% |
| Sil | 41.28 | 3% | 2% |
| SILJ | 13.82 | 3% | 1% |
| GLD | 171.06 | 1% | 4% |
| Au / Ag Ratio | 75.89 | 0% | 5% |
| 10 yr Tbond | 1.326 | 1% | 2% |
| US index (DXY) | 92.12 | -1% | -1% |
| HUI | 256.13 | 1% | -1% |
The Mining Review for 5th September 2021 is complete
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At the time of writing the author holds shares in Bardoc Gold, Colonial Coal, and American Creek.
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