RSD Weekly Recap: GoldMining Inc. (TSX-V: GOLD), Hannan Metals (TSX-V: HAN), K92 Mining (TSX-V: KNT), Prophecy Development (TSX: PCY)
This is Gerardo Del Real with the Resource Stock Digest weekly recap.
Gold was down again, this time 1.3% for the week, closing at $1,280 an ounce.
Silver also down to the tune of just over 2% for a weekly closing at $16.61 an ounce.
The dollar rebound continued and closed above the 93 level for a weekly gain of 1%.
Copper gained nearly 2 cents and closed the week at approximately $2.93/lb.
Zinc continued its bullish posture also gaining 2 cents and closing at $1.45/lb. It’s notable that zinc is trading over $1.51/lb. today.
Platinum was down approximately 1.9%, closing the week at $912.
Palladium was up 1.5% and closed the week at $929 an ounce.
Oil closed higher again and actually registered a positive quarter, closing at $51.67 a barrel for a weekly gain of approximately 2%.
Uranium once again stayed between the $20 and $21/lb. level, closing at $20.55/lb.
GoldMining Inc. (TSX-V: GOLD) Chairman Amir Adnani went over GoldMining Inc.’s latest acquisition, the Crucero gold project in Peru. The acquisition further diversifies an already robust and diverse portfolio that now boasts over 19 million gold ounces across all categories.
That number excludes the Crucero and Yellowknife acquisitions, which will see new resources published within the next few months.
Hannan Metals (TSX-V: HAN) CEO Michael Hudson explained the success of the 50-meter step-out at the Kilbricken zinc project in Ireland.
The hole had very good grade, thickness, and demonstrated good continuity which will be important as Hannan continues to add potentially mineable tonnes. Zinc is in a clear bull market, drilling is ongoing, and I believe Hannan is an absolute bargain right now.
K92 Mining (TSX-V: KNT) President Bryan Slusarchuk provided an important update on the recommencement of mining operations at the Kainantu mine. The stock has been under pressure over the uncertainty surrounding the mine but it appears that the company has made important progress.
I also spoke with Prophecy Development (TSX: PCY) CEO John Lee who provided his thoughts on the opportunity the vanadium market and Prophecy Development represents.
That’s all for this week. This is Gerardo Del Real with the Resource Stock Digest weekly recap.