GOT, MAI, metals inventories
Goliath Resources aka GOT released their first PR following the start of this year's drilling campaign at the Surebet Zone on their Golddigger gold/silver prospect in BC's Golden Triangle. It was kind of pointless, as the only message was that the core looks good but we won't have any assay results sometime in the future.
Message 33889020
The main news item we are waiting for from Minera Alamos aka MAI is the declaration of commercial production at their recently commissioned Santana gold mine in Sinaloa, Mexico, which will open up the company to institutional investors. In the meantime, they have released a PR which confirms that Cerro de Oro, located in Zacatecas, Mexico, has moved up past La Fortuna tp be designated the second of three gold mines they will have in production over the next few years.
To wit, they have acquired the necessary surface rights at Cerro de Oror to allow them to advance to the final stage of permitting. Besides permitting, over the rest of 2021 they will be carrying out more drilling and other exploration, as well as metallurgical testing, mine planning, and financing arrangements so they can hit the ground running once the permits are received.
Message 33890456
BMO put out an interesting analyst report on metals inventories and how complex it is get a read on the future right now. Yes, visible warehouse inventories in many metals are at historically low levels right now. OTOH, in the wake of supply chain problems, many businesses have dropped the just-in-time supply model and now have built up the own (invisible) stocks, so if end-user demand lessens, this could begin a period of passive destocking that could be a drag on commodity prices. This in turn has lessened confidence in the exchanges and warehouses, further muddying the waters. |
