Finance > Capital-markets

Juniors, Compass point north

There were strong moves by junior mining stocks as geopolitical tensions eased following this week’s US/North Korea meeting and the US Federal Reserve raised interest rates as expected.

Staff reporter

Finance > Capital-markets

Juniors, Compass point north

There were strong moves by junior mining stocks as geopolitical tensions eased following this week’s US/North Korea meeting and the US Federal Reserve raised interest rates as expected.

Staff reporter

Juniors, Compass point north

Exploration at Compass’ Sikasso project

The gold price is slightly higher than at this point yesterday, trading at US$1,299.60 on the spot market.

Mali gold explorer Compass Gold (TSXV: CVB) gained 19.05% yesterday to 50c, having identified "four discrete gold anomalies" at its Sikasso project last month.

Papua New Guinea gold miner K92 Mining (TSXV: KNT) hit a 52-week high yesterday, gaining 12.5% to C90c despite no news since announcing high-grade results in Kora North extension drilling earlier this month.

Cornerstone Metals (TSXV: CCC) also touched 52-week high intraday of C$1 but closed down more than 8% to 90c. Its shares have traded below 40c for much of the past year.

The company had yesterday pointed to the US House of Representatives passing Amendment #122 to streamline critical and strategic minerals projects, saying it "could help fast track" its Carlin vanadium project in Nevada.

At the bigger end of town, Newmont Mining (NYSE: NEM) closed down 0.2% in New York, while Rio Tinto (LSE: RIO) closed almost 0.3% higher in London.

BHP (ASX: BHP) was up a similar amount and lithium producer Orocobre (ASX: ORE) was one of the bigger gainers on the benchmark S&P/ASX200 index, up more than 5%, in afternoon Australian trade.

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