RSD Weekly Recap: Mawson Resources (TSX: MAW), Chilean Metals (TSX-V: CMX)
This is Gerardo Del Real with the Resource Stock Digest weekly recap.
It’s been a fun couple of days in the markets, unless you’ve never been through a pullback in which case welcome to the stock market.
Gold closed at $1,330 for a weekly loss of approximately 1.4%.
Silver was down over 5% for the week, closing at $16.50 an ounce.
The dollar slipped below the $89 level before closing at $89.16.
Copper lost a couple of cents, closing at $3.18/lb.
Platinum closed at $987 an ounce for a weekly loss of 2.3%.
Palladium closed at $1,038 an ounce for a weekly loss of 4%.
Zinc closed at $1.61/lb. for a weekly gain of 3.2%.
Like copper I like the recent consolidation, I like the supply-demand fundamentals and the bottom line is there are not a lot of quality juniors that merit even speculation capital. This makes it easier to pick some good names.
Oil closed at $65.06 per barrel for a weekly loss of approximately 1.6%.
Uranium closed at $22.50/lb. down 1%.
Uranium continues to float above $20, waiting for the next catalyst.
Mawson Resources (TSX: MAW) CEO Michael Hudson provided an exploration update on the many targets at its district-scale land package in Finland.
Another company with a tiny market cap and very prospective exploration targets is Chilean Metals (TSX-V: CMX).
Chairman Terry Lynch went over the projects in Chile and Nova Scotia and also explained the royalty agreement with Teck that could provide a significant income stream the company can use to drill the many targets the team at Chilean has outlined.
It should be a very interesting rest of the week. I expected a lot of volatility in 2018 and whether you’re in cannabis, crypto or blue chip stocks we are off to a great start on the volatility front.
That’s all for this week. This is Gerardo Del Real with the Resource Stock Digest weekly recap.