Weekly Recap – Week 52


Gold prices saw modest gains during the holiday week, while silver prices declined. February gold delivery rose 0.22% to close at $1,826.20 an ounce, while March silver fell 0.29% to $24.04 an ounce. Palladium saw a 1.51% drop to close at $1,798 an ounce, while April platinum saw a 1.97% increase to $1,082.90 an ounce. Copper prices rose 0.4% to close at $3.8105 a pound. Market analysts attribute the movements in precious metals prices to a softer US dollar and Covid-related issues in China, as well as ongoing speculation that the Federal Reserve may consider cutting interest rates again.

Gold Top Mover

On Friday, Revival Gold Inc. (TSX.V: RVG) saw a 6.67% increase in its stock price after announcing on December 29th the closing of a C$3 million non-brokered private placement. This helped the company recover from mid-week losses of almost 5% and end the week with a near 2% overall increase.

Revival Gold, founded in 2008, is a Canadian company based in Toronto focusing on gold mineral exploration and development. It has a full stake in the Beartrack-Arnett Gold Project in Idaho and a 51% stake in the Diamond Mountain Phosphate Project in Utah.

Silver Top Mover

Outcrop Silver & Gold Corp. (TSX.V: OCG) has fallen as much as 16% during the week, despite highlighting results from two additional core holes in Las Maras Shoot on the Santa Ana project in Colombia. Highlights included DH308 intercepting 0.9 meters of 767 grams equivalent of silver per ton. The company also announced that the DH306 and DH308 holes extended the high-grade mineralization at depth and to the south. In addition, Outcrop Silver & Gold has added a third drill rig at Santa Ana. It should be noted that the company plans to delay the resource estimate until the first quarter of 2023 in order to include the results of the second phase of metallurgical tests.

Outcrop Silver & Gold is a Canadian company focusing on the exploration and development of mineral properties in Colombia, specifically gold, silver, and copper deposits. It holds 100% stakes in various projects in the country, including the Santa Ana, Mallama, Antares, Oribella, and Argelia projects. The company was founded in 1993 under Outcrop Gold and rebranded as Outcrop Silver & Gold in June 2021. It is headquartered in Vancouver.

Zinc Top Mover

Fireweed Metals Corp. (TSX.V: FWZ) stock was down nearly 10% midweek despite closing a $35 Million offer on December 21st. However, their stock skyrocketed more than 7% on Friday, following the company providing an overview of operations.

Fireweed Metals is a Canadian company that focuses on exploring and developing mineral properties in Canada. Its main exploration targets are zinc, lead, silver, gallium, and germanium deposits. The company has an interest in the Macmillan Pass and Gayna River projects in Canada and holds an option to acquire a 100% stake in the Mactung Tungsten project. Fireweed Metals was founded in 2015, and it is headquartered in Vancouver.

Platinum Top Mover

Nickel Creek Platinum Corp. (TSX: NCP) stock has had quite a run during the last month of the year, rising around 22%. However, during the week, the company stock fell 8.33%. Nickel Creek Platinum confirmed carbon absorbing characteristics in the Wellgreen deposit on December 16th, which is part of Yukon’s fully owned Nickel Shaw Project.

Nickel Creek Platinum is a Canadian company that explores and develops nickel, platinum group metals, copper, cobalt, palladium, and gold deposits in North America. Its main asset is the Nickel Shäw project, a collection of 711 mineral claims and 91 quartz mining leases covering an area of approximately 14,650 hectares in the southwestern Yukon Territory, Canada. The company was founded in 2018 under Wellgreen Platinum and rebranded as Nickel Creek Platinum. It is headquartered in Vancouver.

Lithium Top Mover

On Friday, December 30th, Surge Battery Metals Inc. (TSX.V: NILI) stock traded up 21.67%. The stock is up over 40% for the week and 97.30% for the month. The company has had quite the month, featuring many major announcements regarding its Nevada North Lithium Project.

Surge Battery Metals, incorporated in 1987, is headquartered in Vancouver, Canada. Surge Battery Metals engages in acquiring, exploring, and developing mineral properties in North America.

Uranium Top Mover

Fission 3.0 Corp. (TSX.V: FUU) stock went up 3.28% on Friday to close out a week-long rally of 16.67%. Fission 3.0 has rallied 250% over the last quarter of 2022. The company completed a brokered private placement on December 21st.

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

Mkango Resources Ltd. (TSX.V: MKA) stock was up 28.21% Friday, December 30th. On December 29th, Mkango Resources announced that CoTec Holdings had provided an additional 325,000 pounds to the company through a convertible advance note. The transaction terms are similar to an advance that CoTec provided to Mkango in October, and the conversion rights are subject to the approval of the TSX Venture Exchange. Mkango has also agreed to extend exclusivity with CoTec until January 31st, 2023.

Mkango Resources is a Canadian company that explores for and develops rare earth elements and associated minerals, including uranium, tantalum, niobium, zircon, nickel, cobalt, rutile, graphite, and gold ores, in the Republic of Malawi, Africa. Its main project is the Songwe Hill property within the Phalombe exploration license in southeast Malawi, and it also holds 100% stakes in the Thambani, Chimimbe Hill, and Mchinji licenses. The company is headquartered in Vancouver.

Diamond Top Mover

Diamond Fields Resources Inc. (TSX.V: DFR) stock was surging again Friday, December 30th, posting gains of 11.54%. Leading the market, the stock is up over 39% for the month and nearly 21% for Q4 of 2022.

Diamond Fields Resources was incorporated in 2000 and is based in Beau Vallon, Mauritius. Diamond Fields Resources Inc. is a subsidiary of Spirit Resources SARL. The company holds a 100% interest in the Namibian Diamond project and Zircon project located in Western Madagascar. It is also interested in the Red Sea project ln the Atlantis II basin.

Graphite Top Mover

NEO Battery Materials Ltd. (TSX.V: NBM) stock dropped as much as 26% mid-week but recovered to a weekly loss of 10.42%. On December 29th, NEO Battery Materials, a developer of low-cost silicon anode materials for lithium-ion batteries, announced it had signed a Memorandum of Understanding (MOU) with an Asia-based producer of high-purity silicon powder made from recycled silicon waste from solar photovoltaic cell and semiconductor manufacturing. Next month, NEO plans to test samples of the recycled silicon for performance, viability, and potential collaboration or research direction. If successful, the recycled silicon could allow NEO to reduce the price of its silicon input by 30-40% compared to the current metal silicon input.

NEO Battery Materials is a Canadian junior resource company that explores battery metals and develops silicon anodes in North America. It holds interests in various mining claims covering 467 hectares in Golden, British Columbia. The company was founded in 2006 as Pan Andean Minerals and rebranded as NEO Battery Materials in March 2021. It is headquartered in Vancouver.

Copper Top Mover

Nevada Copper Corp. (TSX: NCU) stock was up 5.45% following the news On December 30th, when it announced that it had received $20 million from the closing of the second tranche of its restart financing package. The company also provided an update on its progress.

Nevada Copper is a Canadian company that explores and develops copper, iron magnetite, gold, and silver deposits in Nevada, United States. It holds a full stake in the Pumpkin Hollow property in Nevada. The company was founded in 1999 and is based in Vancouver, British Columbia.

Nickel Top Mover

Nickel Creek Platinum Corp. (TSX: NCP) stock saw significant fluctuation over the last month of the year. The company stock rose as much as 45% Mid-December but fell to finish the month up 22.22%. Following the announcement on December 16th of the confirmation of the carbon-absorbing characteristics of the Wellgreen deposit.

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 fully owns. The project 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

On December 27th, Gold Royalty Corp. (AMEX: GROY) announced 2022 year-end results with record total annual revenues exceeding guidance. On Friday, to close out the week, their stock was higher by 2.64% during market hours and then 1.72% after hours.

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 2.0% on 17 gold properties.

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