Weekly Recap – Week 51


Markets had a volatile week ahead of the holiday weekend. The S&P 500 and Nasdaq indices both declined for the third consecutive week. The Dow outperformed this week, with a weekly gain of 0.9%. Gold prices rose on Friday after the release of new US inflation data showed that the Personal Consumption Expenditures (PCE) price index increased by 5.5% year-over-year in November, a slower increase than the 6.1% seen in the previous month. However, It is expected that the Federal Reserve will continue to raise interest rates in 2023. Silver increased by 2.5% for the week, palladium rose 1.5%, platinum rose almost 3%, and copper saw a weekly loss of over 1.3%.

Gold Top Mover

Fury Gold Mines Ltd. (TSX: FURY) saw a 14.5% increase in its stock price for the week after announcing the results of eight core drill holes at the Percival Main and Percival East prospects. The company reported drilling 13.5 meters of 8.05 g/t gold at Percival.

Fury Gold Mines is a Canadian exploration and development company focusing on discovering gold properties. It has two main projects: the Eau Claire project, which consists of claims covering an area of approximately 23,000 hectares in Northern Quebec, and the Committee Bay project, which includes leases and claims covering approximately 297,273 hectares in the Kitikmeot Region of Nunavut. Fury Gold Mines also explores for silver. The company was founded in 2008 and is headquartered in Vancouver, Canada.

Silver Top Mover

Aya Gold & Silver Inc. (TSX: AYA) saw a 9% increase in its stock midweek after announcing additional drill results that confirmed the extension of high-grade silver mineralization at depth at the Zgounder Silver Mine in Morocco. The company’s stock ended the week up 3.4%.

Aya Gold & Silver Inc., incorporated in 2007, is based in Montreal, Canada. The company and its subsidiaries engage in the acquisition, exploration, evaluation, and development of precious metal properties in Morocco. The company’s flagship operation, Zgounder property, is located approximately 265 km east of Agadir in Morocco.

Zinc Top Mover

Nine Mile Metals Ltd. (CSE: NINE) experienced a near 11% increase in its stock midweek after announcing certified drill results with up to 16.85% lead-zinc combined, 142 g/t silver (4.56 oz), and 3.69 g/t gold from its initial California Lake VMS drill program. However, the company’s stock reversed its rally and ended the week down 11.9%.

Nine Mile Metals is a company that acquires, develops, and explores mineral properties. It holds interests in the Black Point Property in Nevada and the Nine Mile Brook and Canoe Landing Lake West mining projects in New Brunswick, Canada. The company was founded in 2018 as Stevens Gold Nevada Inc. and changed its name to Nine Mile Metals in January 2022. It is headquartered in Vancouver, Canada.

Platinum Top Mover

Bravo Mining Corp. (TSX.V: BRVO) saw a 37% increase in its stock this week after announcing that it had intersected “exceptional” platinum group metals (PGM) mineralized widths with high-grade nickel at its Luanga project.

Bravo Mining is a mineral exploration company that acquires, explores, operates, and develops mineral properties. Its main property is the Luanga project, a platinum group metals, gold, and nickel project in the Carajás Mineral Province of Pará, Brazil. The company was founded in 2022 and is headquartered in Rio de Janeiro, Brazil.

Lithium Top Mover

Patriot Battery Metals Inc. (TSX.V: PMET) saw a 14% drop in its stock midweek after announcing that it had achieved a 79% recovery rate in dense media separation test work on the CV5 pegmatite of its Corvette Property in Quebec. However, the stock rallied 11.7% on Friday, ending the week up 5.5%.

Patriot Battery Metals is a company that identifies, evaluates, acquires, and explores mineral properties, focusing on gold, copper, silver, platinum, and lithium deposits. Its main property is the Corvette-FCI project, which consists of 417 claims covering an area of 21,357 hectares in Quebec. The company was founded in 2007 and is headquartered in Vancouver, Canada.

Uranium Top Mover

Fission 3.0 Corp. (TSX.V: FUU) had a significant week, up nearly 21%, after closing an C$8.0 million financing to drill 20 holes on the PLN property on December 21st and announced on December 22nd that it had hit 59.2% U308 over 1.0 meter within 6.97% U308 over 15.0 meters at the PLN A1 Discovery.

Fission 3.0 is a company that acquires, explores, and develops uranium resource properties. It holds a full stake in several properties in Saskatchewan, Canada, including the Clearwater West, Patterson Lake North, Wales Lake, and Key Lake area portfolio properties. The company also has a full stake in the Beaverlodge/uranium city area portfolio and the northeast Athabasca basin area properties. Fission 3.0 was founded in 2013 and is headquartered in Kelowna, Canada.

Rare Earths Top Mover

On December 21st, York Harbour Metals Inc. (TSX.V: YORK) signed an agreement to acquire rare earth elements mineral property in western Newfoundland. The company’s stock has been volatile in the past month, seeing a 45% increase about three weeks ago followed by two weeks of declines, including an 8.3% drop this week. Despite this, the company’s stock is still up about 10% for the month.

York Harbour Metals is a mineral exploration and development company that acquires and explores mineral properties in the United States and Canada. It primarily holds a full stake in Newfoundland’s York Harbour copper-zinc-silver project and interests in the Phoenix gold properties and the Gregory River property in Western Newfoundland. It is based in Vancouver, Canada.

Diamond Top Mover

Mountain Province Diamonds Inc. (TSX: MPVD) stock has decreased by 9% for the month and 11% this week. The company has been experiencing a downward trend for a few months and is down about 8% for the quarter.

Mountain Province Diamonds is a company that mines and markets rough diamonds worldwide. It has a 49% interest in the Gahcho Kué diamond mine and a full stake in the Kennady North project in the Northwest Territories, Canada. The company was founded in 1986 and is headquartered in Toronto, Canada.

Graphite Top Mover

Northern Graphite Corp. (TSX.V: NGC) stock declined nearly 12% this week. During the week, Graphex Technologies announced a letter of intent with Northern Graphite to produce natural graphite anode material from mine-to-batteries in North America. Graphex will license and contribute technology and expertise to the joint venture, while Northern will provide security of raw mineral supply.

Northern Graphite is a company that explores and develops graphite properties in Canada. Its main asset is the Bissett Creek graphite project in southern Canada. It also is interested in the Mousseau West graphite project in Quebec and explores nickel-copper-cobalt properties. The company was founded in 2002 and is headquartered in Ottawa, Canada.

Copper Top Mover

Emerita Resources Corp. (TSX.V: EMO) is down over 32% for the month but up over 10% for the week. After the company recently announced additional assay results from the 2022 delineation drilling at the La Romanera Deposit at its Iberian Belt West project.

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.

Nickel Top Mover

Premium Nickel Resources Ltd. (TSX.V: PNRL) stock increased by almost 14% for the week after announcing assay results from its 100% owned Selebi Mine in Botswana, including 6.80 meters of 2.06% NiEq (1.28% Ni, 2.35% Cu, 0.04% Co) and 4.65 meters of 1.55% NiEq (1.10% Ni, 1.24% Cu, 0.04% Co).

Premium Nickel Resources is a mineral exploration and development company focusing on exploring and developing resources such as nickel, copper, cobalt, and platinum group metals. The company was founded in 1983 and is headquartered in Toronto, Canada.

Royalties Top Mover

Elemental Altus Royalties Corp. (TSX.V: ELE) has announced that it has finished a non-brokered private placement of 3,970,997 shares of Elemental at a price of C$1.28 per share for a total of around C$5 million. The company stock was up nearly 8% during the week but fell back down to close out the week at a neutral 0.00%.

Elemental Altus Royalties is a gold-focused royalty company that acquires and evaluates royalties. It has a portfolio of nine royalties in Chile, Western Australia, Kenya, Canada, Mexico, and Burkina Faso and is based in Vancouver, Canada.

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