Gerardo Del Real,
Editor
Dec. 9, 2024
This is your Resource Stock Digest editor Gerardo Del Real here with some Monday coffee talking points.
Heck of a start to the week in the commodity space with gold ripping some 1.5% and looking to retake the US$2,700 per ounce level. Silver is up some 4% and closing in on the US$33 per ounce mark.
Both metals are looking very strong technically as I’ve been encouraging you to buy the most recent dip. I hope you were able to do so.
Ditto for platinum, which is up some 2.3%. Even palladium is getting in on the action, up some 4% this morning.
Not to be left behind, copper is currently up over 2% near the US$4.30/lb level. That’s great news for junior copper explorers such as my largest personal holding in the space… a company that’s finally set to have the drills spinning in the new year.
All of this, by the way, is happening with a dollar index that's relatively flat at the moment around 106.
Impressive moves indeed in the commodity space. And just as impressive are the drill results out of Southern Cross Gold, which, of course, is a subsidiary of Mawson Gold (TSX-V: MAW)(OTC: MWSNF). Those two companies will be merging soon.
This morning, Southern Cross announced a very impressive drill intercept of 186 meters grading 8.8 grams per tonne gold at the Sunday Creek project in Australia. Congrats to the team; shares are up on the news.
We were also greeted this morning with another set of spectacular drill assay results from Q2 Metals (TSX-V: QTWO)(OTC: QUEXF), which reported 188.6 meters grading 1.56% lithium oxide, including 26 meters at 2.03%, from its summer drill program at the flagship Cisco lithium project in James Bay, Quebec. Drills are set to rev back up there early in the new year.
Lithium prices seem to have bottomed with majors starting to move. Juniors with projects of merit are also inching higher. And I suspect that with tax-loss selling wrapping up here, 2025 is going to be a much better year for quality names in the lithium space.
We’re off to a great start to what looks like another exciting week in the markets. I hope everyone has a great one out there.
Let’s get it!
Gerardo Del Real
Editor, Resource Stock Digest