|Mnera Alamos aka MAI provided an update from their newly operating Santana heap leach gold mine in Mexico. Production is currently from the Nicho Norte deposit, and they reported positive results both from deep drilling under the Nicho Norte pit and from the main Nicho deposit, scheduled for future production. Mineralization remains open both at depth and to the south. The company also gave us details about the various optimization programmes underway at Santana.|
Norsemont Mining aka NOM has been on probation for me for a while due to the lack of progress on bringing Choquelimpie back into production. A write-up in the latest IKN newsletter reminded me of this, so I took advantage of today's jump to get out with a 50% loss, alas in a tax-sheltered account.
Speculators can't win them all...
Savile has become more gloomy about gold's short term prospects because the PoG closed the month under its 21-month moving average (blue line). He is still be very positive about a major rally in the first half of 2022, but warns about the possibility of much lower prices before then.
I just hope it doesn't repeat the crash we saw in 2013.
He also warns about the possibility of HUI hitting new intermediate term lows before year end.