Gold and copper - shiny metals in November grey
Calculated in euros, the gold price has risen by around 26 percent compared to the end of October 2018. From a longer-term perspective, November is one of the three best months of the year in terms of the gold price. It remains to be seen how this November will turn out. November ended 29 years out of 49 with a rise in gold prices. In any case, demand from investors and central banks remains very high.
Copper prices could rise if, on the one hand, the USA and China agree in their trade dispute. On the other hand, the protests in Chile, the main country producing copper, are continuing. The supply from copper mines has also fallen year-on-year. Copper production in Indonesia fell sharply this year. Because Freeport McMoRan goes over to his underground mine in Grasberg. Peru is the country with the highest growth in copper supply. There, unrest led the government to declare a state of emergency. Although the problems in Chile and Peru are local, they could affect the entire mining industry, especially in Peru.
There are a few interesting companies that specialize in gold and copper. This also includes GoldMining and Skeena Resources.
Skeena Resources - https://www.youtube.com/watch?v=649zLvI5cgk - is active in the Golden Triangle in northwest British Columbia. The activities relate to the previously producing Eskay Creek and Snip gold mines. Eskay Creek produced approximately 3.3 million ounces of gold and 160 million ounces of silver. The third project is the GJ copper-gold porphyry project (43,500 hectares). With an area of around 43,500 hectares, the preliminary economic evaluation shows a 25-year life with a low initial investment.
GoldMining - https://www.youtube.com/watch?v=8HPJwetUnG8 - has expanded its large portfolio of gold and copper projects with the acquisition of Yarumalito by a further land package in Colombia. GoldMining's projects are also located in the USA, Canada, Brazil and Peru. An investment in a uranium project in the Athabasca Basin in Canada rounds off the portfolio.
Current corporate information and press releases from Skeena Resources (www.resource-capital.ch/de/unternehmen/skeena-resources-ltd/) and GoldMining (www.resource-capital.ch/de/unternehmen/goldmining-inc/).
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