Market Review September 2023

West Red Lake Gold Mines is the company in the spotlight this month.

The best performing Watchlist stocks were Lithium Power International and UEC.

10 Year Treasury yields and the US dollar strength continue to push down the price of precious metals, with FED predictions of “higher for longer”. 

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City Investors Circle Market Review September 2023

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West Red Lake Gold Mines is the company in the spotlight this month.

The best performing Watchlist stocks were Lithium Power International and UEC.

The worst performing watchlist stock was Ascot Resources.

Companies reporting good news included Gold Road Resources and Karora Resources.

Other companies reporting news included Ascot Resources, Calidus Resources, i-80 Gold and Westhaven.

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The highest 10 Year Treasury yields since 2005 and the subsequent US dollar strength continue to push down the price of precious metals, with FED predictions of “higher for longer” really pushing down the price of gold and silver.

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To subscribe to our free monthly newsletter and receive invitations to our free to attend company presentations and conferences, please email andrew@city-investors-circle.com

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To view the September 2023 Market Review, please click HERE

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Calidus Resources commemorative coin

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Mining Review 17th September 2023

We initiated coverage of West Red Lake Gold Mines, new owners of the Madsen Mine, formerly owned by Pure Gold Mining, which went into administration, and subsequently delisted from the TSX.V and AIM markets.

Ascot Recources, i-80 Gold, and Karora Resources all reported good drill results in a busy reporting week. 

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City Investors Circle Mining Review 17th September 2023

Mining Review 17th September 2023 We initiated coverage of West Red Lake Gold Mines, new owners of the Madsen Mine, formerly owned by Pure Gold Mining, which went into administration, and subsequently delisted from the TSX.V and AIM markets.

With a new management team with a record for achievement, and a new plan to exploit the resources and existing mine infrastructure, WRLG looks set to deliver shareholder value, if executed correctly of course.

To read about WRLG, please click here.

Companies on our watchlist in the news last week

Ascot Recources, i-80 Gold, and Karora Resources all reported good drill results in a busy reporting week.

To read about this week’s news in detail, please click the links below,

  Initiating Coverage West Red Lake Gold Mines

  I-80 Gold Announced High-Grade Results From Ruby Hill

  Ascot Resources Intercepted 32.9 g/t Gold Over 4.9m

  Karora Resources Reported Good Drill Results From Fletcher South

  Calidus’ Blue Spec Approval to Boost Output

  Orla Mining Amended Credit Facility

  Mining Review 10th September 2023

Market Data

Week on week price changes

(US$ unless stated)

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Metal and ETF Index Prices

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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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

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,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Calidus Resources (ASX:CAI)

Has received all the Environmental Permits needed for it to start mining the high-grade Blue Spec Gold Project in WA’s Pilbara.

Blue Spec is a high-grade underground project located within trucking distance of the
Warrawoona Gold Project.

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Calidus Resources’ Blue Spec project secures final approval, paving way for it to boost Warrawoona production outlook

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Blue Spec Resource stands at 190,000oz at 24g/t

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Calidus Resources Limited (ASX:CAI) is pleased to announce that it has received all the

Environmental Permits needed for it to start mining the high-grade Blue Spec Gold
Project in WA’s Pilbara.

Blue Spec is a high-grade underground project located within trucking distance of the
Warrawoona Gold Project.

Blue Spec is one of several Calidus expansion plans for Warrawoona. These include
development of the underground mine below the main Klondyke Open Pit at
Warrawoona which will target the higher grade main lode of the Klondyke orebody and
ongoing review of the high-grade Haoma JV Projects for near-mine bolt on
opportunities.

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HIGHLIGHTS

• The Blue Spec Mining Proposal and Mine Closure Plan has been approved by the
WA Government, making the project ‘shovel-ready”
• All other permits, including the water abstraction license, already received
• Blue Spec, located 75km from the Warrawoona production plant, hosts a
Mineral Resource of 190,000oz at 24g/t and a Mineral Reserve of 83,000oz at
11.4g/t
• Blue Spec Feasibility Study contemplated construction of a flotation plant at
Warrawoona to treat the high-grade Copenhagen and Blue Spec satellite mines
• Forecast production from the flotation plant is an additional 30,000ozpa to the
current Warrawoona production profile
• A Front End Engineering Design (FEED) study is underway for the Flotation Plant
that will enable procurement to commence once Final Investment Decision has
been made by the Calidus Board
• Blue Spec is one of several nearby deposits being considered as part of the
Warrawoona expansion strategy.

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Calidus Managing Director Dave Reeves said,

“Receipt of this final approval means all our immediate expansion plans are fully permitted.

 

“The Front End Engineering Study on the plant is progressing well and we believe we will see significant capital reduction from the numbers released in the feasibility study.

 

“We are also close to finalising offtake discussions for the Copenhagen concentrate which will be the first concentrate produced by the flotation plant.

 

“Our review of the Haoma JV projects is continuing and we look forward to providing additional information on these high grade deposits as we conclude our review”.

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To read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources.

Mining Review 20th August 2023

A poor week for the mining juniors, with the price of gold falling due to anticipation of further FED rate increases, causing a strong US dollar.

Karora Resources reported record production sales and revue, and Newcore Gold and Silver Tiger reporting good drill results.

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City Investors-Circle Mining Review 20th August 2023

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Mining Review 20th August 2023 – A poor week for the mining juniors, with the price of gold falling due to anticipation of further FED rate increases, causing a strong US dollar.

Karora Resources reported record production sales and revue, and Newcore Gold and Silver Tiger reporting good drill results.

  Newcore Gold Intersects 3.28 g/t Gold over 11m

  Silver Tiger Intersected 3.3 m Of 1,153 g/t Silver Eq

  Impact Resources Revised the Terms of Sale  of the Commonwealth Project

  Ascot Resources Reported Q2 2023 Results and Construction Update

  Karora Resources Reported Record Production, Sales, and Revenue

  Calidus Resources Opportunity for Production Increase

  Mining Review 13th August 2023

+++++++

Market Data

Weekly Price Changes

(US$ unless stated)

Metal Prices

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.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

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City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Ascot Resources, Calidus Resources, and karora Resources.

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Calidus Resources (ASX: CAI)

MD Dave Reeves was interviewed during the Kalgoorlie Diggers and Dealers 2023 mining conference.

He highlighted the progress the company has made and is making.

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Calidus Resources commemorative coin

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Calidus Resources Kive Interview at Diggers & Dealers 2023

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Calidus Resources (ASX: CAI) MD Dave Reeves was interviewed during the Kalgoorlie Diggers and Dealers 2023 mining conference.

He highlighted the progress the company has made and is making after a problematic mine startup.

He also alluded to the spin out of Pirra Lithium later this year, which should provide a boost to the shareprice, which is very low at just 17c currently.

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To listen to the live inverterview with Dave Reeves, please click HERE

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.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources

..

Market Review July 2023 Published

Companies mentioned this month include Cabral Gold, Calidus Resources, Cornish Metals, Impact Minerals, Karora Resources, and Neometals.

We discuss why gold is holding strong despite the recent US rate hike. 

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Uranium Energy Corp. drilling at Burke’s Hollow, USA.

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City Investors Circle Market Review July 2023 Published

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Market Review July 2023

Companies mentioned this month include Cabral Gold, Calidus Resources, Cornish Metals, Impact Minerals, Karora Resources, and Neometals.

We discuss why gold is holding strong despite the recent US rate hike.

The July 2023 Market Review can be read HERE

To subscribe to receive our free reviews and invitations to our free to attend company presentations, please email andrew@city-investors-circle.com

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.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Cabral Gold, Calidus Resources, Impact Minerals, Karora Resources, and Neometals.

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Mining Review 30th July 2023

The week was noteworthy because of the strange story of Goldshore, the 43-101 comments acidentally uploaded to SEDAR, and the ‘disappearing’ of Moss Lake.

Other companies releasing news included Impact Minerals, Calidus Resources, Cornish Metals, and Karora Resources. 

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Goldshore Map – The lake has disappeared from the picture!

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Mining Review 30th July 2023

Despite the US increasing rates again, gold held strongly, as did the base metals mostly. Silver had a poor week, as did lithium.

The most newsworthy item concerned Goldshore, and the disappearance of Moss Lake! One minute it’s in their presentations, and the  project is called Moss lake, the next they have requested the lake’s removal from maps of the project, and the project has been renamed Moss Gold!

Clearly the lake is an issue, and management have taken steps to remove it from view, which is a red flag for me.

Upon reading this I sold all my stock in the company, as trust has now gone. I was already aware of the lake and happy to invest, but this trying to airbrush it out smacks of desperation in my opinion, and my trust in management has been lost.

News from our watchlist companies this week is below, click the link to be taken to the full story.

Impact Minerals On the Path to HPA Production

Cornish Metals Successfully Commissioned Water Pumps

Calidus Resources Met Production Guidance

UEC Advanced Development of ISR Projects

GoldShore ‘Disappears’ Moss Lake!

Karora Resources Announced Quarterly Gold Production Record

Mining Review 23rd July 2023

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Market Data

Weekly price changes

(US$ unless stated)

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Metal Prices

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.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources, and Karora Resources

..

Calidus Resources (ASX: CAI)

Announced improved results for the June Quarter, meeting production and cost guidance.

FY24 guidance is 65,000 – 75,000 Oz gold at an AIS|C of A$1,900 to A$2,100.

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Calidus Meets Half-Year Production and Cost Guidance for the June Quarter

FY24 guidance is 65,000 – 75,000oz at an AISC of A$1,900 – A$2,100/oz

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OPERATIONS

• Zero Lost Time Injuries and Zero Recordable Injuries in the quarter
• Warrawoona Gold Project (WGP) met guidance for the half year with 31,364oz
produced at an AISC of $2,172/oz
• Record quarterly gold production for the June 2023 quarter; 7% increase in
quarterly gold production to 16,177oz at an AISC of $2,245/oz; 15% increase in mill
throughput to 675,170t
• Gold sales for the quarter of 15,487oz for revenue of $40.1M at an average realised
price of $2,590/oz
• Operating cashflow of $10.2M offset by a realised loss of $5.7M on hedge contracts

CORPORATE AND FINANCIAL

• At the end of the June Quarter, Calidus held cash and cash equivalents of $26.0M
including $21.6M of cash and $4.4M of bullion after $6.0M debt repayment and
$1.4M spent on development and growth activities
• Project Loan Facility reduced to $81.0M at quarter end; Hedge reduced by
9,250ozs to 106,250ozs
• Calidus raised $24.8M (before costs) via a $23.0M Placement and $1.8M Share
Purchase Plan plus the conversion of $10.5M of Macmahon’s creditor position to
equity at the same price as the placement

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GUIDANCE FOR 2023-24

• FY24 guidance is 65,000 – 75,000oz at an AISC of A$1,900 – A$2,100/oz
• Production expected to be weighted to second half due to mill shut in Q1 and
higher-grade ore being accessed in H2.
• AISC forecast to be lower in H2 due to reduced strip ratio and increased production
• Forecast life-of-mine costs for the open pit estimated at an AISC of $1,750 –
$1,850/oz. The lower costs for LOM reflect strip ratios reducing 20% as the pit is
deepened and associated reduction in mining costs.

To read the full news release, please click HERE

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds  shares in Calidus Resources

..

Calidus Resources (ASX: CAI)

Have produced an updated presentation for the Noosa Mining Conference in Australia.

Calidus are improving production rates and striving to lower AISC at their Warrawoona producing gold mine in Western Australia.

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Calidus Resources Updated Presentation for the Noosa Mining Conference

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Calidus Resources (ASX: CAI)

Have produced an updated presentation for the Noosa mining Conference in Australia.

Calidus are improving production rates and striving to lower AISC at their Warrawoona producing gold mine in Western Australia.

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To view the updated presentation, please click here and scroll down.

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources

..

Calidus Resources (ASX: CAI)

Announced more strong drilling results at its Felix gold discovery in the Pilbara.

The results support Calidus’ strategy to grow the inventory, production and mine life at
its Warrawoona Gold Project. 

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Calidus Resources Location-of-the-Warrawoona-Gold-Project, East Pilbara, Western Australia

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Calidus’ Felix discovery shows potential to supply Warrawoona mill

Calidus Resources Limited (ASX:CAI) is pleased to announce more strong drilling results at its Felix gold discovery in the Pilbara.

The results support Calidus’ strategy to grow the inventory, production and mine life at
its Warrawoona Gold Project by defining and developing deposits within trucking
distance of Warrawoona.

The drilling program was designed to follow up on initial results1,2 by testing the
potential for Felix to host a shallow Mineral Resource which would be amenable to
open pit mining.

The first round of scout drilling proved the presence of widespread,
shallow mineralisation at Felix.

Results from the latest drilling campaign have demonstrated the geometry of the mineralised horizons and their strike continuity. This was an important step because there was no previous drilling or substantive exploration work in the Felix
area.

Felix is just 65km from Warrawoona and 5km from Calidus’ Blue Spec deposit.

HIGHLIGHTS

• All gold assays have been received for a program of close-spaced, shallow RC
drilling to define the geometry and continuity of near-surface lodes at the Felix
discovery in the Pilbara
• Drilling carried out over only a small portion of the strike length of the mineralised
system.

• Results include:
• 15m @ 2.19g/t Au from 22m in 23GORC052 (including 1m @ 19.82g/t Au
from 31m),
• 13m @ 0.96g/t Au from 30m in 22GORC043,
• 19m @ 0.73g/t Au from 8m in 23GORC037, and
• 10m @ 1.56g/t Au from 16m (including 2m @ 4.11g/t Au from 23m) in
23GORC039.
• Infill and extensional soil sampling program now underway
• Calidus aims to establish Felix as an ore source for its Warrawoona project
• Soil sampling and 2022 drilling to guide a program to determine the volume of
oxide mineralisation in the better endowed western part of the system
• Calidus has moved to 100% ownership of the tenement upon which Felix is
located

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Calidus Managing Director Dave Reeves said:

“These results support the prospect of Felix becoming a source of ore for Warrawoona, enabling us to increase mine life and leverage the infrastructure.

 

“The results will be used, in conjunction with the results from a soil sampling program currently underway, to plan the next stage of drilling to determine the likelihood of a Mineral Resource amenable to open pit mining.

 

“At Marble Bar, planned drilling is designed to test the thickness and grade continuity of a high-grade portion of the quartz reef and to test down-dip and along-strike extensions of the reef that are currently open.

 

“Results from the program will be used to test the potential for high-grade ore feed for Warrawoona, which is only 25km away”

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.

To read the full news release, please click HERE

.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources

..

Mining Review 9th July 2023

Another lacklustre week, for want of a better adjective, there’s simply no excitement in the junior mining sector at the moment.

Scotgold was the subject of a reprimand to the BBC after it was described in an interview as having dicovered a new vein, when in fact they hadn’t. 

.

  BBC Scotgold “Gold Discovery” Complaint Upheld

  Karora Resources a “Buy” According to the Globe

  Calidus Resources Announced Record Gold Production

  Cornish Metals Released New Assay Results

  Australian Stocks Rise on New Tax Year

  Neometals Vanadium Recovery Project Update

  Mining Review 2nd July 2023

.

Market Data

Week on Week Price Performance

(US$ unless quoted)

Metal Prices

.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Calidus Resoures and Karora Resources

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Calidus Resources (ASX: CAI)

Reported record quarterly gold production at Warrawoona of 16,177 ounces.

The strong result means Calidus has met its guidance for the six months to 30 June
2023 of 31,000 – 36,000oz by producing 31,364oz.

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Calidus Resources commemorative coin

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Calidus Announce Record Gold Production at Warrawoona

Calidus Resources Limited (ASX:CAI) is pleased to report record quarterly
production at Warrawoona of 16,177 ounces.

The strong result means Calidus has met its guidance for the six months to 30 June
2023 of 31,000 – 36,000oz by producing 31,364oz.

The record production is particularly pleasing given the impact of Tropical Cyclone Ilsa during the quarter.

All-in sustaining costs (AISC) for the June quarter are not finalised but are
expected to be within guidance of A$2,000 – A$2,250/oz.

June production of 5,745 ounces was a record at Warrawoona and continues the
trend of steadily increasing production on both a monthly and quarterly basis.

This sets an excellent platform for continued growth through higher-grade pits
and undergrounds.

Further details will be available in the full June 2023 Quarterly Report later this
month.

To read the full news release, please click HERE

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Mining Review 2nd July 2023

Lithium mining in the UK is in its infancy, yet one of the two companies involved is in financial trouble, and the other has just ceded 80% to a French company, Inversys.

Calidus Resources and Cornish Lithium posted news this week, the price of gold dropped back a tad.

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Marathon Gold – Camp at the Valentine Project, Newfoundland.

Calidus Resources (ASX: CAI)

Has signed a binding framework agreement which gives Calidus an exclusive right to negotiate binding agreements for access to all Haoma’s gold tenements, deposits and stockpiles across the East Pilbara on the basis of a 60:40 profit share (Calidus:Haoma).

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Calidus Resources Location-of-the-Warrawoona-Gold-Project, East Pilbara, Western Australia.

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Calidus Resources Signs an Agreement With Haoma

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Calidus Resources Limited (ASX:CAI) is pleased to advise that it has signed a
binding framework agreement which gives Calidus an exclusive right to negotiate
binding agreements for access to all Haoma’s gold tenements, deposits and stockpiles
across the East Pilbara on the basis of a 60:40 profit share (Calidus:Haoma).

Over many years, Haoma has secured a large number of historic mines in the region
and has mined many of these deposits.

Although Haoma has access to the Bamboo Creek Mill, its small size (100,000 tpa) results in very high processing costs.

Calidus’ Warrawoona gold project is now performing 20% above design capacity with
low operating costs. This allows for many of the Haoma stockpiles and deposits that
were considered to be uneconomic to be treated at Warrawoona for the benefit of both
parties.

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Calidus may form a joint venture covering any Haoma tenements in the East
Pilbara (1,135sqkm)

• These tenements host numerous known high-grade deposits including Bamboo
Creek, Comet, Blue Bar, Mickeys Find and Normay and stockpiles
• The deposits are all within trucking distance of Calidus’ Warrawoona gold project
and all are located on granted Mining Leases
• Proposed JV terms provides for a 60:40 profit share (Calidus:Haoma)
• Potential to access stockpiles in the very near-term
• Full review of stockpiles and deposits now underway
• This proposed gold JV is in addition to the previously-announced lithium
agreements between Calidus and Haoma; These tenements are held by Pirra
Lithium.

For brevity, this summary has been redacted, to read the full news release, please click HERE

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Mining Review 11th June 2023

Wesdome Gold Mines confirmed they have suspended activities at their Kiena mine due to the wildfires raging in Canada. Calidus Resources, Maple Gold, Orla Mining and O3 Mining all reported news.

Gold held steady despite more FED rate rise speculation.

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Orla Mining Cerro Quema Project, Panama.

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Mining Review 11th June

Wesdome Gold Mines confirmed they have suspended activities at their Kiena mine due to the wildfires raging in Canada, as a precaution, despite hte fires being around 60 miles away currently.

Other mining companies active in Ontario and Quebec have suspended exploration activities to ensure staff safety.

The fires are out of control and burning over a huge area, causing widespread disruption in the USA, particularly in New York where flights are being suspended and air quality is considered dangerous.

Gold held steady despite more FED rate rise speculation, but silver had a storming week in comparison.

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Market Data

Week on week price changes

(US$ unless stated)

Metal Prices

Metal ETFs

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Calidus Resources (ASX: CAI)

Announced the successful completion of its Share Purchase Plan, which closed at 5:00pm (AWST) on Tuesday, 30 May 2023.

The Company received valid applications from 162 Eligible Shareholders for 8,361,994 new fully paid ordinary shares.

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Calidus Resources Warrawoona mine

Comment

Good to see the company receive strong support from their investor base.

They now need to continue the recovery after the problematic start to mining at Warrawoona, which is already well underway.

Hopefully we will see the listing of Pirra Lithium later this year, which should atract investors to Calidus before the record date for the distribution of Pirra Lithium shares.

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources

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To read our full terms and conditions, please click HERE

Mining Review 21st May 2023

Neometals and Calidus Resources published positive updates in a week devoid of news of substance.

Most metals also had a poor week, but lithium rose strongly and looks to be on the way back up after a terrible year so far. 

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Japan Gold rock sample

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City Investors Circle Mining Review 21st May 2023

Neometals and Calidus Resources published positive updates in a week devoid of news of substance.

Most metals also had a poor week, but lithium rose strongly and looks to be on the way back up after a terrible year so far.

——-

News from companies on our watchlist was sparse this week, and can be found by clicking the links below.

We are moving into the summer doldrums so we may see a decline in share prices and the price of gold, although the latter is fluctuating on FED interest related news rather than the traditionally slow summer months.

  Cornish Metals South Crofty Progress Report

  Maple Gold Outlines VMS Summer Field Program

  Goldshore Selects Ausenco to Conduct the PEA

  Calidus Resources Publishes a New Corporate Presentation

  New Mining listings on the TSX Venture Exchange

  Neometals’ Barrambie Titanium Project PFS Update

  Mining Review 14th May 2023

Read more: http://www.city-investors-circle.com/archives/#ixzz82IDFt5VJ

Market data

Weekly Price Changes

(US$ unless stated)

Metal Prices

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Metal ETFs

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds in shares in Calidus Resources and Goldshore Resources

To read our full terms and conditions, please click HERE

Calidus Resources (ASX: CAI)

Has published an updated corporate update for a recent mining conference in Australia.

Calidus is recovering from early production teething problems at ther Warrawoona mine in Western Australia. 

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Calidus Resources Warrawoona mine

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Calidus Resources Publish an Updated Corporate Presentation

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Calidus Resources (ASX: CAI) has published an updated corporate update for a recent mining conference in Australia.

Calidus is recovering from early production teething problems at ther Warrawoona mine in Western Australia.

To access the presentation slide deck, please click HERE

.

.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources

..

City Investors Circle – London

The April 2023 Market Review has been published.

Companies mentioned include Argosy Minerals, Calidus Resources, Gold Road Resources, i-80 Gold, and Karora Resources. 

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Mines and Money 2022 – The magnificent Business Design Centre, at Islington.

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City Investors Circle – London –  April 2023 Market Review

Companies mentioned include Argosy Minerals, Calidus Resources, Gold Road Resources, i-80 Gold, and Karora Resources. 

We discuss the lightly attended recent London mining conferences and suggest reasons why so few investors are attending.

The review includes all the market data changes for the month, including positive updates for precious metals and negative for industrial metals, as world recession fears grow.

To subscribe to receive the monthly Market Review and invitations to our free to attend events in London, please email andrew@city-investors-circle.com

To read the current Market Review, please click HERE

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.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

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.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Argosy Minerals, Calidus Resources, i-80 Gold, and Karora Resources, all bought in the market at the prevailing price on the days of purchase.

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