Ryan Stancil,
Editor
April 7, 2025
Commodity Callout
Everything was down but gold less than just about everything else. It held above the $3,000 per ounce price and is the most likely candidate to see income from investors looking for a safe haven.
Metal Price Update
Gold — Gold, like almost everything else in the market, saw its value drop last week from a high of $3,130 to a low of $3,025 per ounce. It still managed to maintain a price above $3K with fundamentals still in place for a strong performance. So this could be seen as a buying opportunity.
Silver — Silver fell back below $30 per ounce from a weekly high of almost $35 as investors ran for the exits. Like gold, it still has strong fundamentals, and this can be looked at as another opportunity to buy at a discounted price.
Copper — It’s the same story with copper. It started the week above $5 per ounce only to end closer to $4.40 an ounce. Its industrial uses, especially in the ongoing energy transition, all but ensure this isn’t a downtrend that will last.
Lithium Carbonate — Lithium carbonate, at least, wasn’t an outlier this week as its price continued downward over the last week, starting at around $10,200 and going as low as $10,146 per ton. The market downturn will likely be another roadblock in this commodity’s comeback.
Uranium — While commodity prices in a lot of places have been in freefall, uranium surprisingly held its ground. It stayed in a range between $64.35 and $65.30 per pound, holding strong to the theory that the market is waking up to how important it is to the clean energy future.
Company Callout
One company to take a look at is Quartz Mountain Resources (TSX-V: QZM)(OTC: QZMRF), a Canadian mining company with a potentially significant silver-gold resource in British Columbia called Maestro. Two holes there turned up 102 meters of 2.22 grams per tonne (g/t) gold with 104 g/t silver and 36 meters of 5.73 g/t gold with 87 grams per tonne silver. Those are the kind of numbers most companies can only dream of. And this is one of two resources the company owns, the other being the Jake property. That one is a potentially significant copper-gold resource.
All of these metals are in demand despite the ongoing economic turmoil, and they’re poised to see their values rise when everything else seems to be in freefall. That could be one reason why Quartz managed to raise C$4.2 million in a recent financing to commence drilling at Maestro and to see just how big the resource actually is. Management personally has skin in the game with this company, and with gold prices above $3,000 per ounce and looking to rise, they’re positioned to do extremely well alongside investors.
You can learn more about the company by listening to a recent interview between Gerardo Del Real and the company’s CEO, Bob Dickinson, by clicking here.
Keep your eyes open,
Ryan Stancil
Editor, Resource Stock Digest