RSD Weekly Recap: Kenadyr Mining (TSX-V: KEN), Cordoba Minerals (TSX-V: CDB), K92 Mining (TSX-V: KNT)
This is Gerardo Del Real with the Resource Stock Digest weekly recap.
Gold registered a weekly gain of 2.2%, closing at $1,255 an ounce. Silver was also higher, closing at $16.83 an ounce and adding 2.5% for the week.
Copper closed at 2.57/lb. for a weekly gain of 2.1%. This was on the heels of a much lower dollar which is at a 6-month low closing at 97.12, down over 2% for the week.
Platinum closed at $938 an ounce for a weekly gain of approximately 2.2%. Palladium however was down 5.9%, closing at $756 an ounce.
Oil was up again, this time over 5% for the week, closing at $50.38 a barrel.
Uranium meanwhile was down almost 4%, closing at $21.75/lb. Zinc ticked up a cent, closing at $1.17/lb.
As the summer approaches, it will be important for companies to have catalysts on the horizon.
I had the opportunity to catch up with three companies this week that will be busy.
Kenadyr Mining (TSX-V: KEN) President Bryan Slusarchuk called in to announce that drilling has commenced early at the South Zone. Expect high grades from the drill program as new drilling validates historic drilling.
Cordoba Minerals (TSX-V: CDB) CEO Mario Stifano provided an update on drilling at the district-scale San Matias project in Colombia.
Expect additional drill rigs to move in within the next few months and keep an eye on the next set of results as the company has confirmed that once again it has visible gold in the drill core. Assays are pending.
Lastly, we had the opportunity to speak with the president of K92 Mining (TSX-V: KNT) to go over the ramped production guidance at the Kainantu gold mine.
That’s all for this week. This is Gerardo Del Real with Resource Stock Digest.