RSD Weekly Recap: Brexit, Gold Soars, Midas Gold, Nevada Sunsrise, Fission Uranium

June 27, 2016

This is Gerardo Del Real with the Resource Stock Digest weekly recap. The UK voted to leave the European Union and the reaction was fast and furious.

Prime Minister David Cameron is to step down by October after the UK voted to leave the European Union.

The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results.

Gold soared as much as 8% to its highest in more than two years, although at the time of this writing it’s settled back to the $1,313-an-ounce level. Euro-priced gold rose as much as 13%. This while the dollar rallied over 2%.

The S&P 500 was down 3.6%, the Dow Jones Industrial Average fell 3.4%, and the Nasdaq declined 4.1%. The Volatility Index, otherwise known as the "fear" index, spiked 40%, to 24.14.

It should be an interesting week. Margin calls will start hitting traders and if you’ve ever had the pleasure of working thorough one of those, you know that you sell what you can not want you want.

That may be why gold pulled back after the initial spike.

Central banks have now been backed further into what was already a situation that offered very few, if any good outcomes.

It was also a busy week here at Resource Stock Digest.

There was a lot of news from our featured companies and I expect that will continue.

Midas Gold President and CEO Stephen Quin stopped by to chat about the world-class Stibnite gold project in Idaho. You can listen to that interview here. I’ll be visiting the project in a few weeks and look forward to sharing insights from the visit.

Another Featured company, Nevada Sunrise, announced a new deal where they’ve effectively become one the first lithium project generators. In addition they have three exciting gold projects that I expect to hear news from soon, specifically the Kinsley Mountain high-grade project that’s a joint venture between Nevada Sunrise and Pilot Gold.

CEO Warren Stanyer stopped by to talk about the news.

I also had the pleasure of speaking with President, COO, and Director of Fission Uranium, Ross McElroy. Ross stopped by to talk about one the most exciting discoveries, across all commodity sectors on the past few decades and maybe ever, the Triple R deposit at the Patterson Lake South project.

He outlined the goals of the upcoming 52-hole summer dill program. A program all resource investors should have on their radar.

Lastly, I had the good fortune of getting one of the best resource investors in the business, Jeff Phillips of global market development, to stop by for a chat. We covered a variety of topics, the new gold bull market, being contrarian investor, Fission Uranium and even Donald Trump. A lot of good stuff in the interview. Anybody involved in the resource sector knows the credibility and experience Jeff brings. Listen to the interview.

That’s it for this week’s Resource Stock Digest weekly recap. This next week will be interesting to watch. I look forward to continuing to bring you the most influential voices and the compelling stories from the junior resource space.`


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Name Last Change
DOW 27766.30 0.20%
S&P 500 3103.54 0.16%
NASDAQ 8506.21 0.24%
TSX 16999.19 0.04%
TSX-V 529.03 0.00%

Resource Commodities

Name Last Change
Gold 1465.06 0.04%
Silver 17.11 0.12%
Copper 2.62 2.621
Platinum 901.00 0.67%
Oil 58.58 2.68%
Natural Gas 2.57 0.31%
Uranium 25.88 0.00%