Weekly Recap – Week 50


Investors all around the globe fearing a recession, high inflation, and hawkish Fed interest rate hikes are putting pressure on equities. As investors rush towards safe havens, gold futures ended higher on Friday after a week of fluctuating prices, reaching a six-month high but posting a weekly decline due to anticipated higher U.S. interest rates. February gold rose 0.7% to settle at $1,800 per ounce, with prices down 0.6% for the week. Silver for March delivery increased by 0.1% to $23.328 per ounce, with a weekly decrease of 1.6%. Platinum for January fell 1.3% to $1,000 per ounce, experiencing a 3.5% weekly loss. Copper prices for March remained largely unchanged at $3.7615 per pound, with a 3% weekly decrease.

Gold Top Mover

Barrick Gold Corp. (NYSE: GOLD) stock is up 6% for the past month. Barrick Gold has successfully finished reviving the Reko Diq project, which was approved by Pakistan’s Supreme Court and received the necessary legislative support. The Reko Diq project is a massive undeveloped copper-gold venture that is jointly owned by Barrick (50%), three federal state-owned enterprises (25%), and the Province of Balochistan (15%).

Barrick Gold was founded in 1983 and is based in Toronto, Canada. The company specializes in extracting and selling gold and copper, as well as conducting related activities such as exploration and establishing mines. It operates through several divisions, including Barrick, Nevada, Veladero, Pueblo Viejo, Lagunas Norte, Turquoise Ridge, Acacia, and Pascua-Lama.

Silver Top Mover

Discovery Silver Corp. (TSX.V: DSV) stock is up 21% for the week and 45% for the past three months. On November 21st, they announced they had intercepted 124 g/t AgEq over 96 meters and 126 g/t over 77 meters at Cordero. Investors have enjoyed stellar returns as the company expands at a rapid pace.

Discovery Silver is a mineral exploration company focusing on discovering and developing polymetallic deposits. Its main property is the Cordero silver project, which covers approximately 35,000 hectares in Mexico’s Chihuahua state. Founded in 1986 and headquartered in Toronto, Canada.

Zinc Top Mover

Emerita Resources Corp. (TSX.V: EMO) is down over 45% for the month and nearly 22% for the week. Despite a short rise on December 7th, following an announcement reporting intersections at La Romanera Deposit in Spain.

Emerita Resources is a Canadian company specializing in finding and developing natural resources in Spain, particularly gold and zinc. It has three main exploration properties in Spain: the Iberia Belt West project in Huelva Province, the Plaza Norte project in the Reocin Mining Camp in Cantabria, and the Sierra Alta project in the Asturias region.

Platinum Top Mover

Ivanhoe Mines Ltd. (TSX: IVN) finished the week down nearly 6%, posted gains of 6% on Friday, but fell as much as 12% mid-week. The volatility comes following the announcement on Thursday, December 15th, that the police searched Ivanhoe Mines’ Vancouver office as part of the Swiss bank transfer investigation.

Ivanhoe Mines is a Canadian mining company leading the global transition to a low-carbon and renewable future by supplying critical resources dedicated to the cause. It develops and expands its four main projects in South Africa. The development of the Kamoa-Kakula copper mining complex in the Democratic Republic of Congo (DRC), the Platreef palladium, rhodium, platinum, nickel, copper, and gold discovery in South Africa, the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the Democratic Republic of Congo and exploration on the Western Foreland, near Kamoa-Kakula.

Lithium Top Mover

After rallying for months due to shortages, Lithium stocks fall as prices ease for the first time in 6 months. Targa Exploration Corp. (CSE: TEX) stock price has increased significantly over the past month, possibly due to the announcement that the company plans to acquire two large pegmatite lithium exploration projects from Kenorland Minerals. As a result of this news, the company’s stock has increased by over 3.200% in the past month, with a closing increase of 81% on Friday.

Targa Exploration Corp. is a Canadian company focusing on finding and developing mineral deposits. The company has an Option to fully own the Shanghai property, which consists of 150 claims covering 2,600 hectares in the Mayo mining district of the Yukon territory. The company was previously called RCM Minerals Ltd. and changed its name to Targa Exploration Corp. in July 2021. It was founded in 2017 and is based in Vancouver.

Uranium Top Mover

Azincourt Energy Corp. (TSX.V: AAZ) stock was down 9% to close the week on Friday. The drop comes following the rise of around 10% on the announcement that the company on the East Preston Uranium Project in the Athabasca Basin, Saskatchewan, has been granted a drilling permit.

Azincourt Energy, founded in 2011, and based in Vancouver, Canada, is a company that focuses on exploration and development in the alternative energy sector in Canada and Peru. It searches for deposits of uranium, lithium, and other clean energy elements. The company has the Option to acquire 70% interest in the East Preston project in Saskatchewan and 100% interest in the ELC project in Peru. It also has an option agreement with ValOre Metals Corp. to acquire a 75% interest in the Hatchet Lake uranium project, which consists of 6 mineral claims in Saskatchewan.

Rare Earths Top Mover

Imperial Mining Group Ltd. (TSX.V: IPG) has announced the discovery of a new high-grade zone at Crater Lake, Quebec, where the company intersected 378 g/t of Sc2O3 over a distance of 24.68 meters. The stock rose by 11% mid-week but fell 10% to close out the week Friday with a modest increase.

Imperial Mining Group is a mineral exploration company based in Canada. The company primarily searches for copper-zinc, gold, scandium-niobium-tantalum, and silver deposits. It holds interests in several properties in Canada, including the Crater Lake project in Quebec, the Opawica project in the Chibougamau mining camp, the Carheil property, and the Brouillan property. The company is also interested in the La Ronciere project in Gand and La Roncière townships.

Diamond Top Mover

Despite falling by over 5% on Friday, the stock of Star Diamond Corp. (TSX: DIAM) ended the week with an overall increase of 6.2%. Despite the drop on the final day of the week, the company’s stock maintained a positive trend throughout the week, reaching a high of over a 12% increase mid-week.

Star Diamond is a company that explores, develops, and produces diamonds in Canada. The company’s main properties are the Star Kimberlite and Orion South Kimberlite properties in Saskatchewan, and it holds a 50% interest in the Buffalo Hills project in Alberta. Star Diamond was previously known as Shore Gold Inc. and changed its name in 2018. The company was founded in 1985 and is based in Saskatoon, Canada.

Graphite Top Mover

Graphano Energy Ltd. (TSX.V: GEL) stock experienced significant fluctuations over the week. After the company announced the results of its trenching program at the Standard Project, which showed 26 meters grading 6.51% Cg, the stock rose nearly 30% by the middle of last week. However, it closed the week at a gain of 5% after a steep decline of 20% on Friday.

Graphano Energy is a mining company specializing in the evaluation, acquisition, and development of graphite resources in Canada. It holds a 100% stake in the Lac Aux Bouleaux Graphite property, which consists of 14 mineral claims and covers an area of about 738.12 hectares in Quebec. The company was founded in 2020 and is headquartered in Vancouver, Canada.

Copper Top Mover

First Quantum Minerals Ltd. (TSX: FM) stock saw a decline in value over the week after the government of Panama ordered the company to halt operations at its Cobre Panama copper mine. The decision came after the company failed to reach an agreement on a new contract with the government. The stock was down nearly 22% midweek and closed the week down nearly 14%, with a drop of 1% on Friday.

First Quantum Minerals is a company that explores, develops, and produces mineral properties, primarily copper, nickel, pyrite, gold, silver, and zinc ores. It also produces acid and operates mines in various locations worldwide, including Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania. The company has a development project in Zambia and is exploring the Taca Taca copper-gold-molybdenum project in Argentina and the Haquira copper deposit in Peru. The company was founded in 1983 and is based in Toronto, Canada.

Nickel Top Mover

Nickel Creek Platinum Corp. (TSX: NCP) stock saw significant fluctuation over the week following the announcement of the confirmation of the carbon-absorbing characteristics of the Wellgreen deposit. The stock was down nearly 18% midweek and reversed to close the week up nearly 18%, with a rise of 30% on Friday.

Nickel Creek Platinum is a company that explores and evaluates nickel and platinum group metals in North America. It also searches for copper, cobalt, palladium, and gold deposits. The company’s main asset is the Nickel Shäw project, which it owns 100% and consists of 711 mineral claims and 91 quartz mining leases in the southwestern Yukon Territory, Canada. The company is based in Vancouver, Canada.

Royalties Top Mover

Triple Flag Precious Metals Corp. (TSX: TFPM) was up over 6% last week following the announcement on December 13th that Triple Flag Precious Metals has signed definitive agreements to acquire a gross revenue return and stream on the Prieska project.

Triple Flag Precious Metals is a gold-focused streaming and royalty company that acquires and manages streams and royalties in various countries worldwide, including Australia, Canada, Colombia, Mongolia, Peru, South Africa, and the United States. The company’s portfolio primarily consists of streams and royalties related to gold and silver, and it has 78 assets, including nine streams and 69 royalties. Triple Flag Precious Metals was founded in 2016 and is headquartered in Toronto, Canada. It is a subsidiary of Triple Flag Mining Elliott and Management Co-Invest LP.

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