Mining Review – Weekly Update 25th April

City Investors Circle – Weekly Mining Review

The biggest news of the week is the announcement by Neometals that they are applying to dual list on the AIM market of the London Stock Exchange.

Gold gyrated around without advancing during the week.


Neometals MD Chris Reed at Kalgoorlie


City Investors Circle – Weekly Mining Review

The biggest news of the week is the announcement by ASX listed energy metals and battery recycling company Neometals that they are applying to dual list on the AIM market of the London Stock Exchange.  Why AIM I wonder? Normally it’s an indication of the intention to raise funds.

Gold gyrated around without advancing during the week.

In a week where US Treasury 10 year Tbond yields fell, and Bitcoin was hit hard, gold only ended the week where it began, hugely disappointing.


Stocks on our watchlist in the news this week

Neometals Intends to list on the AIM Market of the London Stock Exchange

Canuc ResourcesSan Javier area hots up as Osisko and Barksdale move into the area.

RoxgoldReported high grade gold intercept at Boussoura, Burkina Faso

Silver TigerAnnounced high grade silver mineralisation hit 250m south of the Sooy vein.

Apollo ConsolidatedIncreased the indicated resources at their Lake Rebecca gold project.

Gold Road Released Q1 2021 results

Los CerrosExpands Los Tesorito South mineralised zone



Other mining companies in the news

Resolute Mining – Had their mine in Ghana reinstated with conditions regarding the proposed sale to a Chinese company.

Orocobre and Galaxy Mining, both ASX listed lithium producers, announced a “merger of equals” to create a $4 billion company.



Precious Metals

Gold performed well all week on slightly lower US 10 year Treasury yields, and US$, yet gave it all back on Friday to end just $1 up on the week.

Palladium was the star of the show again, as Rhodium took a breather after a strong recent rise.

Gold 1777 0%
Silver 25.97 0%
Palladium 2764 3%
Platinum 1226 2%
Rhodium 26000 -1%



Base Metals

Stimulus spending hopes once again drove base metal prices higher, with bellwether copper up 3%.

Copper 4.3 3%
Nickel 7.26 0%
Zinc 1.27 0%
Tin 12.88 2%



Energy Metals

A poor week once again, with manganese a surprise heavy faller. Lithium prices rose slightly, after a few weeks of sliding sideways and down.

Cobalt 22.59 0%
Manganese 3.1 -7%
Lithium 12631 1%
Uranium 29.2 -3%



Bulk materials

Iron ore prices continue to rise to an eight year high as stimulus spending anticipation grows. Coking coal prices surprisingly fell back, despite Chinese stocks being lower, and some Chinese mines being inspected for H & S breaches.

Iron Ore 180 5%
Coking Coal 146.5 -1%




Unsurprisingly, no real movement this week.

GDX 36.06 0%
GDXJ 49.69 -1%
Sil 43.96 0%
SILJ 15.76 -1%
GLD 166.4 0%


The Mining Review for 25th April 2021 is complete.




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