Categories: Base Metals / Energy / General Market Commentary / Precious Metals
Topics: General Base Metals / General Energy / General Market Commentary / General Precious Metals

RSD Weekly Recap: Almadex Minerals (TSX-V: AMZ), Leading Edge Materials (TSX-V: LEM)

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

Gold flirted with $1,300 but closed at $1285 an ounce and actually ended up losing $4.

Silver closed at $16.99 for a weekly loss of 11 cents, down approximately 0.7%

The dollar closed at 93.41 for a weekly gain of 0.4%

Copper closed at $2.93/lb., up approximately 1.1%

Platinum lost $5 for the week, closing at $978 an ounce.

Palladium rallied 3.6%, hitting a 16-and-a-half-year high, and closed at $916 an ounce.

Oil traded relatively flat and closed at $48.62 a barrel.

Zinc continues to rally and closed at $1.41/lb.

Uranium continued dancing between $20 and $21/lb., closing at $20.85/lb.

The copper space is heating up and I got to speak with CEO of Almadex Minerals (TSX-V: AMZ) Morgan Poliquin about the El Cobre project. The latest intercept returned the best hole to date yielding 534.9 Meters of 0.9 g/t gold and 0.3% copper.

I visited the project last year. The project has excellent infrastructure, several new targets, including one a few kilometers away that is being drilled as we speak and benefits from being adjacent to another Morgan Poliquin discovery, Caballo Blanco.

The company which owns Caballo Blanco — which Almadex holds a royalty on —  recently saw an investment by Agnico Eagle and is now in the permitting phase.

New discoveries at El Cobre will definitely be of interest to Agnico.

I also caught up with Leading Edge Materials (TSX-V: LEM) CEO Blair Way to go over the expanded drill program at the Bergby lithium project in Sweden.

Sweden will be home to the Northvolt project, the European gigafactory which will need several critical metals for it to be successful.

Leading Edge has done an excellent job of getting to the front of the line and looks to be in position to not only provide high-purity graphite to the project but also, in the future, possibly a suite of critical metals as it advances its portfolio.

That’s all for this week. This is Gerardo Del Real with Resource Stock Digest. 

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