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RSD Weekly Recap: Almadex Discovery, Brazil Resources Acquisition, Skyharbour Interview, Fission Drill Results

August 22, 2016

This is Gerardo Del Real with the Resource Stock Digest weekly recap.

Gold fell from a two-week high and traded in the $1,340 range for most of Friday the 19th as several Fed speakers did their usual round of double talk advocating for and against raising rates. Gold’s two week-high on Thursday and approximately 0.5% gain for the week was in part due to the dollar trading at a seven-week-low before an approximately 0.80% drop on Friday.

Silver traded down 2.1% on Friday and registered a 1% weekly decline.

Copper, platinum and palladium all registered losses on Friday as well.

Meanwhile oil prices are now up approximately 22% in August.

All eyes this week will be on Fed Chairwoman Janet Yellen, who will speak at a conference in Jackson Hole, Wyoming on Aug. 26. Markets should get a much clearer picture of interest rate policy for the remainder of the year. The speech will move the metals and currency markets regardless of what’s said.

Morgan Poliquin was kind enough to stop by on short notice and discuss the second part of assays from the first hole at the recent gold-copper porphyry discovery. Almadex is in the early stages of what appears to be a potentially significant copper-gold porphyry discovery at its El Cobre project in Veracruz, Mexico.

I also had the pleasure of speaking with Amir Adnani, Chairman and founder of Brazil Resources. Amir discussed the details of what could be a game changing acquisition for Brazil Resources.

K92 Mining provided an operational update showing that the restart of mining and processing operations is on schedule and budget.

On the uranium front I had a chance to chat with Skyharbour Resources CEO Jordan Trimble to discuss the company’s strategy, experienced management team, strategic shareholders and the quality projects it was able to bring under the Skyharbour portfolio for pennies on the dollar.Skyharbour is a uranium project generator that should be on everyone’s radar as the story develops.

Lastly, Fission Uranium reported it had successfully connected the R600W and R840W zones at its world-class PLS project in the Athabasca Basin. The strike length os now at an impressive 2.63 km, which is the largest mineralized trend in the Athabasca Basin.

We’ll see you next week.

 

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MARKET SUMMARY

INDICES

Name Last Change
DOW 24651.70 0.58%
S&P 500 2675.81 0.89%
NASDAQ 6936.58 1.15%
TSX 16041.98 0.16%
TSX-V 801.23 0.00%

Resource Commodities

Name Last Change
Gold 1255.23 0.20%
Silver 16.05 0.93%
Copper 3.11 1.98%
Platinum 893.90 1.50%
Oil 57.30 0.45%
Natural Gas 2.61 2.76%
Uranium 24.25 N/A
Zinc 1.44 0.00%

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