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.
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 Resources – San Javier area hots up as Osisko and Barksdale move into the area.
Roxgold – Reported high grade gold intercept at Boussoura, Burkina Faso
Silver Tiger – Announced high grade silver mineralisation hit 250m south of the Sooy vein.
Apollo Consolidated – Increased the indicated resources at their Lake Rebecca gold project.
Gold Road – Released Q1 2021 results
Los Cerros – Expands 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% |
ETF’s
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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We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
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