Categories: Base Metals / Energy / General Market Commentary / Precious Metals
Topics: General Base Metals / General Energy / General Market Commentary / General Precious Metals

RSD Weekly Recap: Palamina Corp. (TSX-V: PA), Almaden Minerals (TSX: AMM)

This is Gerardo Del Real with the Resource Stock Digest weekly recap all the way from Salmon, Idaho. I am visiting Revival Gold’s Beartrack project, which just published an updated resource estimate that has the company boasting a 2 million ounce gold resource across all categories.

Look for insights next week.

Gold closed the week at $1,299 an ounce for a weekly gain of 0.5%.

Silver closed higher, settling at $16.75 for a weekly gain of over 2%.

The dollar pulled back a bit, settling at 93.57 for a weekly loss of 0.7%.

Copper surged last week, settling at $3.29/lb. for a weekly gain of 5%.

Platinum picked up $2, settling at $905 an ounce.

Palladium gained as well, settling at $1,007 for a weekly gain of nearly 1%.

Zinc also settled higher, closing at $1.46/lb. for a weekly gain of six cents.

Oil continued its slide, settling at $65.67 for a weekly loss of approximately 1.3%.

Uranium is gaining momentum, settling at $23.50 for a weekly gain of 1.6%.

I spoke with Palamina Corp. (TSX-V: PA)(OTC: PLMNF) President Andrew Thomson last week. There is a modern day gold rush going on in southeastern Peru, where Palamina has secured an impressive land package of nearly 80,000 hectares. I’m very excited for Palamina’s exploration results.

Almaden Minerals (TSX: AMM)(NYSE: AAU) recently closed an over-subscribed, non-brokered private placement of $9.4 million. I caught up with CEO Morgan Poliquin to get the details on Almaden’s two-pronged strategy of moving the Ixtaca Project forward to feasibility while also continuing exploration. That exploration potential was highlighted by a recent impressive drill result over 1 km outside the PFS pit.

That’s all for this week. This is Gerardo Del Real with the Resource Stock Digest weekly recap.