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 (TXS-V: AMZ), Fission 3.0 (TSX-V: FUU), Millrock Resources (TSX-V: MRO), K2 Gold (TSX-V: KTO)

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

Gold gained 2.4% last week, closing at $1,289 but continues to fail to break out.

Silver gained approximately 5%, closing at $17.10 per ounce.

Both have started the weak lower.

The dollar closed at 93.07, losing 0.4% but has started the week higher flirting with the 94 level.

Copper closed at $2.90/lb. for a weekly gain of approximately 0.9%.

Platinum closed at $983 for a weekly gain of 2%.

Palladium also closed higher, adding 2.3% and closing at $884 per ounce.

Zinc closed at the $1.31 level and continues to look like it’s poised for a strong run.

Uranium closed at $21/lb., adding $0.75 and Oil closed lower for a weekly loss of 1.5%, closing at $48.79 per barrel.

I spoke with Almadex Minerals (TXS-V: AMZ) CEO Morgan Poliquin about the importance of the emerging high-grade zone at the El Cobre copper-gold project.

It was a timely interview as Almadex released the best results ever this morning from the Norte Zone. The intercept returned 534.9 meters of 0.9 g/t gold and 0.30% copper.

The market has noticed, shares are up 17% today on good volume. Past critics of the project who doubted the scale and grade may have to start revisiting that skeptical stance. They will be doing so at higher prices.

Fission 3.0 (TSX-V: FUU) COO Ross McElroy called in to update  the status of 7 early-stage but highly prospective uranium projects in the Athabasca Basin.

Hint to wannabe uranium explorers looking for quality projects, the company is open to joint-ventures to advance some of the projects.

Speaking of project-generators, Millrock Resources (TSX-V: MRO) CEO Greg Beischer updated the status of several projects, including two that will see drilling.

Lastly, K2 Gold (TSX-V: KTO) CEO Stephen Swatton went over the very solid results from the limited but targeted drilling at its Wels property in the Yukon.

The results include visible gold in 3 of 15 holes and also included an interval that had visible gold but was not assayed.

Stephen will be sending some of those samples back to the lab and I expect that we will see an improvement to already good numbers from this set of assays.

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