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RSD Weekly Recap: Mawson Resources (TSX: MAW), GoldMining (TSX-V: GOLD), Nevada Sunrise (TSX-V: NEV), Advantage Lithium (TSX-V: AAL), Millrock (TSX-V: MRO), Lithium X (TSX-V: LIX)

December 12, 2016

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

For the fifth straight week gold closed lower, this time at $1,161 per ounce, down 1% for the week.

Silver closed near the $16.96 per ounce level leaving it up nearly 1.3% for the week. Silver prices were higher prior to the European Central Bank (ECB) decision.

Copper was up nearly 0.9% for the week closing near the $2.65/lb level.

Platinum closed in the $912 per ounce range for a weekly loss of approximately 1.8% while palladium was down approximately 1.4% closing in the $733  per ounce range.

Brent crude was up over $54 per barrel to close the week — it’s highest since July 2015 — while U.S. crude closed just over $51 a barrel.

The dollar, meanwhile, was up 1% for the week.

I continues to expect lower gold prices into the first quarter of 2017. I continue to expect a higher dollar and I expect the next few weeks to be an excellent time to add the best juniors at very attractive entry points.

Here at Resource Stock Digest I had the pleasure of speaking with (click for interview) chairman and CEO of Mawson Resources (TSX: MAW)(OTC: MWSNF) Michael Hudson. Mawson is in the process of kicking off a very aggressive drill program on the back of being able to secure permits for some very important targets at its large, high-grade Scandinavian land package. Keep an eye on Mawson.

Brazil Resources, now “GoldMining Inc.” officially started trading (click for 60-second release) under the new ticker symbols “GOLD” in Canada and “GLDLF” in the U.S. The company is well cashed up with over $21 million in cash and in a lower gold price environment I expect Chairman Amir Adnani to continue to look to add assets at very opportunistic prices.

Nevada Sunrise (TSX-V: NEV)(OTC: NVSGF) outlined its plan (click here for 60-second release) for drilling at Roulette, its Nevada gold property. On the heels of successful drilling at its lithium property with JV partner Advantage Lithium, Nevada Sunrise expects to drill one of three gold projects in the first quarter of 2017. Continued success on the lithium front, a positive resolution to the water rights issue, and successful drilling at Roulette could make for very interesting newsflow.

Speaking of successful lithium results, Advantage Lithium (TSX-V: AAL)(OTC: AVLIF) and partner Nevada Sunrise announced (click for 60-second release) successful drilling at its Clayton NE lithium project in Nevada. The companies intersected 109.7 meters of 202.8 ppm in the second hole and have now hit on the first two of three holes with the third showing mineralization with assays to follow.

Lithium X (TSX-V: LIX)(OTC: LIXXF) announced (click for release) it is now trading under the "OTCQX Best Market" under the symbol LIXXF, which will allow the company to broaden its shareholder base.

Lastly Millrock Resources (TSX-V: MRO)(OTC: MLRKF) announced (click for release) results from its Los Chinas gold project in Sonora, which is a joint-venture with Centerra.

It’s an early stage property with early-stage results that didn’t define significant mineralization but both companies are discussing the next steps and with the robust portfolio of projects in the region I wouldn't be surprised to see an exploration alliance between Centerra and Millrock.

That’s all for this week.

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MARKET SUMMARY

INDICES

Name Last Change
DOW 23526.20 0.27%
S&P 500 2597.08 0.08%
NASDAQ 6867.36 0.07%
TSX 16074.30 0.00%
TSX-V 792.78 0.00%

Resource Commodities

Name Last Change
Gold 1288.60 0.02%
Silver 17.06 0.18%
Copper 3.13 0.29%
Platinum 936.00 0.48%
Oil 58.02 2.05%
Natural Gas 2.97 1.65%
Uranium 24.25 N/A
Zinc 1.48 0.00%

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