RSD Weekly Recap: Yellen Double-Talk, Cordoba Minerals, Fission Uranium, Midas Gold

August 29, 2016

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This is Gerardo Del Real with Resource Stock Digest.

Fed chairwoman Janet Yellen sent markets lower, then higher, then lower after her latest comments regarding the direction of interest rates and her views on the economy.

My favorite quote came from a CNBC pundit who said with a straight face, “these were the most dovish-hawkish comments from Janet Yellen yet.”

I don’t know if she was joking or trying to outdo Fed Chairwoman Janet Yellen at double-talk, but either way it was amusing.

Gold saw a weekly decline of approximately 1.5% while silver dropped approximately 4% for the week. Copper also saw a decline of approximately 4.4% for the week, with platinum and palladium dropping 4.2% and 3.2% respectively.

September is right around the corner. Expect volatility and possibly the next great buying opportunity in the junior resource space.

Here at Resource Stock Digest it was a busy week. President and CEO of Cordoba Minerals (TSX-V: CDB), Mario Stifano, stopped by to talk about the district scale copper-cold San Matias project. San Matias is a large land package in northern Colombia with potential for multiple discoveries.

Cordoba has secured a JV with HPX, which is indirectly controlled by Robert Friedland. The JV allows HPX to earn up to 65% of the project in exchange for funding the project through feasibility.

Cordoba is in the midst of a 20,000 meter drilling program. I expect a lot of news from Cordoba in the coming months.

Also drilling is Fission Uranium (TSX: FCU)(OTC: FCUUF), which announced results from the world-class Patterson Lake South (PLS) project. The company has been busy connecting two zones, extending the strike length, and defining very attractive targets for future drill programs.

Fission President and COO Ross McElroy joined me to go over his takeaways from the summer program.

One company that isn’t drilling but will be is Midas Gold (TSX: MAX)(OTC: MDRPF). Midas already has a world-class resource that exceeds 6 million ounces of gold across all categories.

President and CEO of Midas Gold, Stephen Quin, stopped by to talk about the upcoming drill program at the Stibnite gold project. I expect exciting results from that drill program.

That’s all for this week. Have a great week everybody.  

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Name Last Change
DOW 26839.80 0.09%
S&P 500 2971.23 0.03%
NASDAQ 8062.64 0.07%
TSX 16415.16 0.05%
TSX-V 540.76 0.00%

Resource Commodities

Name Last Change
Gold 1491.30 0.44%
Silver 17.63 0.91%
Copper 2.63 2.628
Platinum 901.00 0.67%
Oil 54.70 2.10%
Natural Gas 2.21
Uranium 24.88 0.00%