RSD Weekly Recap: Millrock Resources (TSX-V: MRO), Almadex Minerals (TSX-V: AMZ), Cordoba Minerals (TSX-V: CDB), Lithium X (TSX-V: LIX)
This is Gerardo Del Real with the Resource Stock Digest weekly recap.
Gold continues higher, adding approximately 2.4% for the week and closing near the $1,221 level, while hitting and11-week high last Thursday. Gold currently trades in the $1,233 per ounce range despite a higher dollar and the stock market indices in the U.S. hitting record highs.
The price of gold and the dollar — which often move in opposite directions — went back and forth all week long with the dollar index — which closed down approximately 1% for the week — bouncing above and below the critical 100 level.
Silver was also up approximately 2% last week.
The Fed is still talking up three rate hikes this year. We’ll see.
Copper was down 2.2% for the week and closed at the $2.62/lb level.
Platinum gained approximately 2% for the week closing above the $1,000 level at $1,001 per ounce while palladium gained approximately 1.5% for the week closing at $750 per ounce.
Uranium continues higher closing above the $25/lb. level for the first time this year and is currently trading above the $26/lb. level.
I had the opportunity to chat with (click for interview) Millrock Resources (TSX-V: MRO)(OTC: MLRKF) President & CEO Greg Beischer who provided an update on its recent sale of the Violeta property. He also provided an update on Millrock’s uranium asset. The company was recently named to the 2017 OTCQX Best 50, an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market.
Almadex Minerals (TSX-V: AMZ)(OTC: AXDDF) announced (click for NR) a $2 million non-brokered private placement, which will give the company more ammunition to drill its El Cobre copper-gold discovery in Veracruz, Mexico.
A busy week for Cordoba Minerals (TSX-V: CDB)(OTC: CDBMF) as it announced (click for NR) a resumption of an expanded drill program at its San Matias copper-gold project in Colombia. The company was also recently named to the 2017 OTCQX Best 50, an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market.
Lithium X (TSX-V: LIX)(OTC: LIXXF) announced (click for NR) it had acquired the Arizaro lithium brine project in Argentina and also provided an update on its Sal de los Angeles project.
This is Gerardo Del Real with the Resource Stock Digest Weekly Recap.