Categories: Base Metals / Energy / General Market Commentary / Precious Metals
Topics: General Base Metals / General Energy / General Market Commentary / General Precious Metals

RSD Weekly Recap: Aldmadex Minerals (TSX-V: AMZ), Hannan Metals (TSX-V: HAN)

This is Gerardo Del Real with the Resource Stock Digest weekly recap.

A declining dollar helped the precious metals last week. The dollar closed below the 94 level at 93.97, a multi-year low.

Gold closed at $1,254, up over 2% for the week.

Silver closed at $16.50 an ounce, adding 3.5% for the week.

Platinum closed at $934, adding 1.5% for the week.

Palladium closed at $841 an ounce down 1.5%.

Copper meanwhile added 1.5%, closing at $2.71/lb.

Zinc closed below the $1.24/lb. level but is back higher and flirting with $1.30/lb. this week.

Oil closed at $45.60, down over 2% for the week and Uranium was basically flat for the week, closing at $20.75/lb.

Summer doldrums have not kept quality companies from doing good work and it was a week full of very good drill results.

Almadex Minerals (TSX-V: AMZ) CEO Morgan Poliquin continues to balance multiple discoveries. I had a chance to speak with Morgan about progress at El Cobre. He went over the drill program at El Cobre and just today Almadex announced some very, very good results that included 70.45 meters of 2.32 g/t Au and 0.59% copper.

New interview talking about the new high-grade component to the El Cobre project coming soon.

Speaking of excellent results, Hannan Metals (TSX-V: HAN) delivered some spectacular numbers. The company reported a 3.2-meter intercept with 8% zinc and 73% lead. I spoke with Hannan CEO Michael Hudson about the results and what’s next for Hannan. Expect lots of news flow.

This is Gerardo Del Real with the Resource Stock Digest weekly recap.