Weekly Recap – Week 48


Gold futures and stocks declined on Friday, December 2nd, due to a hotter than expected jobs report that boosted the ailing dollar and bond yields. The strong jobs market suggests that the Federal Reserve may have to continue aggressive interest rate hikes to tame inflation. Whereas, just a day ago markets swung wildly into the last month of the year, with gold futures posting the biggest one-day gain since 2020. Despite the end of week decline in the stock market, metals, including gold, silver, palladium, platinum, and copper, ended higher for the week.

Gold Top Mover

On November 28th 2022, Labrador Gold Corp. intersected 23.44g/t Au over 1.27 meters at Big Vein Southwest. Since the release of the announcement, Labrador Gold stock has gone up by around 40% for the week, while being up 20% on Friday alone to close the week.

Labrador Gold was incorporated back in 1987 and is headquartered in Toronto, Canada. The company engages in the acquisition, exploration, and development of gold properties.

Silver Top Mover

On Friday, December 2nd, Prime Mining Corp. stock was trading up 19.62% for the day, closing the week roughly 40.3% higher. The move followed the announcement of an up-size of the previously bought deal private placement financing, which was announced on Thursday, December 1st. The change was from $16.5 million to $18.3 million.

Prime Mining was incorporated in 1981 and its headquarters are in Vancouver, Canada. The company engages in the acquisition, exploration, and development of gold and silver deposits. Priming Mining holds a full stake in the Los Reyes project, covering an area of 6,273 hectares located in Sinaloa, Mexico.

Zinc Top Mover

Paycore Minerals Inc. stock continues its rise for the month of November, up by almost 48.5%, and up by 7.14% on Friday, December 2nd alone. The rise is a response to the exploration drilling results from the Company’s 100%-owned FAD Property located on the Battle Mountain-Eureka Gold Belt in Nevada, USA. The company intersected 14.8 meters of 6.3% zinc, 10.3% lead, 376 g/t silver and 7.1 g/t gold.

Paycore Minerals is based in Thunder Bay, Canada. The company explores for gold, lead, silver, and zinc deposits.

Platinum Top Mover

Spearmint Resources Inc. traded up to 9.09% on Friday, December 2nd. The upside reversal followed a previous decline following an announcement that the company will no longer pursue the 185-acre “Golden Goose Project“ as a result of the drilling program not providing evidence of economical gold grades.

Spearmint Resources, incorporated in 2009, is headquartered in Vancouver, Canada. The company explores for gold, platinum, palladium, copper, nickel, lithium, vanadium, and cesium. Spearmint Resources’ flagship property is the McGee Lithium Clay project, which covers an area of approximately 880 acres located in Clayton Valley, Nevada.

Lithium Top Mover

On Friday, December 2nd, Surge Battery Metals Inc. withdrew the proposed private placement, in addition to its announcement on December 1st, 2022, when the company announced strong lithium results from drilling four drill holes at their 100% owned Nevada North Lithium Project in Elko County, Nevada. The company traded up by 48.65% following the news.

Surge Battery Metals, incorporated in 1987, is headquartered in Vancouver, Canada. Surge Battery Metals engages in the acquisition, exploration, and development of mineral properties in North America.

Uranium Top Mover

Fission 3.0 Corp. stock is up 30.34% for the week, and is up 286.67% for the month of November. The company started the month by making changes to its Board of Directors and intersecting extremely radioactive and off-scale (>65,000 cps) mineralization in a new uranium discovery. The company ended the month intersecting off-scale mineralization in the first follow-up hole on its 100% owned Patterson Lake North “PLN” project in Saskatchewan, Canada.

Fission 3.0 was incorporated in 2013 and is headquartered in Kelowna, Canada. The company engages in the acquisition, exploration, and development of uranium resource properties.

Rare Earths Top Mover

Power Metals Corp. is up 7.41% for the trading day following a week-long rally of 32.56%. The rally comes on the announcement of November 30th in which the company intersected 20.25% cesium over 1.0m and 3.10% lithium over 2.0m at Case Lake property, Cochrane, Ontario.

Power Metals, incorporated in 2005, is headquartered in Vancouver, Canada. Power Metals engages in the acquisition, exploration, and evaluation of resource properties in Canada. The company holds a full stake in the Case Lake property that consists of 475 cell claims located in Ontario.

Diamond Top Mover

U.K.-based Rio Tinto Group has rallied more than 7.10% last week as a result of favorable market conditions. A couple of top-yielding diamond mines make Rio Tinto one of the largest diamond producers in the world.

Rio Tinto Group, founded in 1873, is headquartered in London, the United Kingdom. Rio Tinto is one of the largest raw material producers in the world. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium.

Graphite Top Mover

Focus Graphite Inc. stock was up 10.67% on Friday, December 2nd, and was up 219.23% for the month of November. On November 30th, the company announced the completion of its 2022 core drilling program at its fully owned Lac Tétépisca graphite project, in Québec.

Focus Graphite was incorporated in 1998 and is based in Kingston, Canada. The company explores for graphite, iron, copper, rare-earth elements, and gold deposits. Focus Graphite holds a full stake in its flagship property Lac Knife. 

Copper Top Mover

C3 Metals stock is up by 27.27% in November, and closed the week on a positive note with an increase of 7.69% for the day. The month of November was a big month for the company. From completing a 73 hole drilling program at Jasperoide, Peru, to obtaining approvals to commence exploration drilling at Arthurs Seat Project in Jamaica.

C3 Metals is based in Toronto, Canada. The company engages in the identification, acquisition, exploration, and evaluation of copper and gold deposits in Peru, Jamaica, and Canada.

Nickel Top Mover

Murchison Minerals’ second drill hole at HPM project has returned the best intersection drilling results to date. Following the news, Murchison Minerals stock was up 4.35% for the day. The results confirmed extensive high-grade nickel sulfide mineralization, intersecting two broad zones of nickel, copper and cobalt.

Murchison Minerals is headquartered in Burlington, Canada and explores for zinc, nickel, copper, cobalt, and silver deposits. The company also holds an option to earn a full stake in the Barraute-Landrienne zinc-silver-gold project in Quebec. They also own the Brabant-Mckenzie deposit north of Saskatchewan.

Royalties Top Mover

On Friday, December 2nd, Gold Royalty Corp. stock was trading lower than the rest of the market by falling 2.09% during market hours, followed by a quick 2.49% reversal during market after-hours. The announcement that the company has entered into an agreement with Val-d’Or Mining Corporation to sell and generate royalties on 12 prospective properties in Québec and Ontario has brought back investor confidence.

Gold Royalty was incorporated in 2020 and is headquartered in Vancouver, Canada. Their portfolio consists of net smelter return royalties ranging from 0.5% to 2% on 17 gold properties.

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