RSD Weekly Recap: K2 Gold (TSX-V: KTO), Riverside Resources (TSX-V: RRI)
This is Gerardo Del Real with the Resource Stock Digest weekly recap.
Gold added 2.4% last week after the Fed announcement to raise rates a quarter point. The reaction was similar to the reaction before, but was somewhat counterintuitive as most people interpreted the decision and the comments that followed as more dovish than anticipated.
I haven’t been convinced that we’re out of the woods yet with gold and I’m not convinced that this is the beginning of the end for the dollar.
Despite my caution gold did add 2.4% last week and settled at $1,230 per ounce while the dollar slid 1%.
Silver surged nearly 3% for the week closing at $17.41 per ounce.
Copper also settled considerably higher adding 3.7% for the week and closing at $2.69/lb.
Platinum joined the party for a weekly gain of 2.6% closing at $963 per ounce while palladium registered a weekly gain of 4.1% closing at $775 per ounce.
Uranium continues to put in a solid bottom and the spot price is back near the $26/lb. level closing at $25.50/lb. and zinc is back at the $1.30/lb. level.
Here at Resource Stock Digest I had the opportunity to speak (click for interview) with K2 Gold (TSX-V: KTO) Chairman John Robins about the world-class team exploring the Wels project not too far from Mr. Robins’ most recent success, the Coffee deposit at Kaminak, which was sold to Goldcorp for C$520 million.
I also caught up with (click for interview) Riverside Resources (TSX-V: RRI) CEO John-Mark Staude about the excellent share structure and the strong execution of the prospect generator model.
The week is off to an exciting start as Fission Uranium announced a new discovery this morning at the world-class PLS project. I’ll have an interview with Ross McElroy for you soon.
This is Gerardo Del Real with Resource Stock Digest.