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RSD Weekly Recap: Midas Gold (TSX: MAX), Almaden Minerals (TSX: AMM), Almadex Minerals (TSX-V: AMZ) & Leading Edge Materials (TSX-V: LEM)

December 5, 2016

This is Gerardo Del Real with the Resource Stock Digest Weekly Recap.

Gold was down once again and is now trading the $1,170 level.

Silver closed at $16.73 for the week, up approximately 1.72%.

Oil is up over the $50 level and looks to be establishing a nice base there.

Platinum closed at $932 up 2.7% for the week while palladium closed at $745 an ounce for a gain of 0.6%.

Copper saw a brief pullback and was down 1.5% for the week, closing near the $2.62 level.

All eyes over the weekend were on the Italian referendum. Prime Minister Matteo Renzi has announced his resignation after a definitive defeat in the constitutional referendum.

The initial reaction has been relatively calm despite the Euro falling to a 20-month low initially.

The trend to watch is one where people tired of traditional politics vote against establishment figures looking to increase their influence. This has ramifications that extend to all of Europe, the Euro and currency and metals markets.

In my opinion, the upcoming election in France followed by the German election will have a very significant influence over the dollar and that has the potential to cause all sorts of volatility. Keep an eye out for that.

I continue to expect lower gold prices the next 4-8 weeks. And though the dollar is down just over 1% post referendum, I also expect a strong dollar in 2017.

Lots of news here at Resource Stock Digest.

I spoke with Advantage Lithium CEO David Sidoo about the game changing partnership with Orocobre. You can listen to that here.

Midas Gold reported some excellent results from its drill program at the Stibnite Gold project in Idaho. The company hit 200 meters of 2.2 g/t Au starting from surface with silver and antimony credits to go along with it. You can listen to my conversation with Midas Gold President & CEO Stephen Quin here.

Another company reporting excellent numbers was Almaden Minerals. I spoke with CEO Morgan Poliquin about Almaden’s most recent assays which continue to report high grade mineralization within and outside of the PEA pit. You can listen to that here.

Almadex Minerals reported it had optioned its El Venado project to Wolverine Minerals reminding the market that despite El Cobre being the 100%-owned flagship, it still has a robust portfolio of over 20 quality projects that could be advanced with the right partner.

Exploration and development companies that aren’t exploring or developing may want to give Almadex President & CEO Morgan Poliquin a call to see if Almadex can help. In the meantime you can listen to my interview with Morgan here.

On the critical metals front, Leading Edge Materials CEO Blair Way joined me to go over its most recent discovery of lithium outcrops at its Bergby project in Sweden. Leading Edge’s flagship is the Woxna graphite facility but it’s well on its way to positioning itself as a one-stop-shop for critical metals.

You can listen to my interview with Blair here.

That’s all for this week. 

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MARKET SUMMARY

INDICES

Name Last Change
DOW 25019.40 0.38%
S&P 500 2753.17 0.75%
NASDAQ 7825.98 0.03%
TSX 16561.12 0.04%
TSX-V 725.24 0.00%

Resource Commodities

Name Last Change
Gold 1244.40 0.27%
Silver 15.83 0.19%
Copper 2.77 0.000
Platinum 831.00 0.30%
Oil 71.01 0.96%
Natural Gas 2.75 1.64%
Uranium 23.19 0.30%
Zinc 1.18 0.00%

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