RSD Weekly Recap: BRI's Titiribi Resource Estimate, Almaden Results, K92 Update, Lithium X Interview, Leading Edge Materials Introduction
This is Gerardo Del Real with the Resource Stock Digest weekly recap.
All eyes will be on the Bank of Japan and the Fed as both have important meetings this week.
Gold has been lower in seven of the last eight trading sessions and is flirting with breaking the $1300 level to the downside. Gold registered a weekly loss of approximately 1.3%.
Silver broke the $19 level and also registered a weekly loss of approximately 1%
The dollar meanwhile was up over 0.5% after data showing the inflation rate ticking up which many observers see as a data point that the Fed can use as justification for a rate rise.
I was at the Beaver Creek Precious Metals Summit and attended Amir Adnani’s presentation the morning Brazil Resources (TSX-V: BRI)(OTC: BRIZF) announced an updated resource estimate for its Titiribi project in Colombia. The new resource outlines 4.63 million ounces gold in the measured & Indicated category and an Inferred resource of 3.25 million ounces gold. The new estimate increases the Measured & Indicated resource by 146%. The presentation was well attended and included a sit in by Ross Beaty. Brazil Resources now has 18.1 million gold ounces throughout their several projects in Alaska, Brazil and now Colombia and also a uranium option.
Almaden Minerals (TSX: AMM)(NYSE: AAU) also delivered news this past week. on September 13, the company announced further high-grade mineralization outside of the amended PEA pit. Bottom line is the more Almaden drills, the more they find. A fact that I’m sure is not lost on potential suitors.
K92 Mining (TSX-V: KNT)(OTC: KNTNF) appointed Chris Muller exploration manager and announced it had commenced drilling at its flagship Kainantu Gold mine.
On the lithium front, I had the pleasure of speaking with Lithium X (TSX-V: LIX)(OTC: LIXXF) CEO Brian Paes-Braga on the company’s path to lithium production.
Lastly I was able to speak with one of the most knowledgable people in the critical metals space, Leading Edge Materials (TSX-V: LEM)(OTC: LEMIF) CEO Blair Way. Leading Edge has its flagship, Woxna graphite facility in Sweden and looks like it’s positioning itself as a one stop shop for critical metals.