👷♀️ Greetings, Contrarian!
This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and wash the car. 🚗🚿
📝 Here are the highlights
Moby Dick Results
💪 Gold Battles Back
🐦 Nuclear Security Push
📌 Daily Commodity Prices
Moby Dick Results
Pirate Gold Corp. (TSXV: YARR) (OTCQB: YARRF) reported drilling results from the Moby Dick discovery at its Treasure Island Project in Newfoundland, Canada.
Highlights:
261.0 metres of 0.23% CuEq, including:
57.0 metres of 0.34% CuEq
20.0 metres of 0.51% CuEq
286.0 metres of 0.15% CuEq, including:
19.3 metres of 0.40% CuEq
137.0 metres of 0.19% CuEq, including:
61.6 metres of 0.23% CuEq
including 20.0 metres of 0.36% CuEq
Drilling has now found copper-gold mineralisation across about 2 kilometres of strike and hit a porphyry intrusion inside a 2.7-kilometre magnetite corridor.
Assays are pending from 20 holes, 19 of which have visible chalcopyrite or molybdenite. Barge drilling is underway on Crippleback Lake, and the Mobile MT survey results due in mid-November will guide deeper drilling.
💪 Gold Battles Back
Gold prices recovered today as bargain hunters stepped in following the previous session's steep decline, which had pushed bullion to its lowest level in more than a year.
Spot gold rose around 0.5% to $3,894.52 per ounce, while US gold futures gained 0.4% to $3,898.70.
Despite the recovery, gold remained on track for a weekly loss of nearly 4%, pressured by rising oil prices, renewed inflation concerns and expectations of further US Federal Reserve interest-rate increases.
Investors are now awaiting US Producer Price Index data for fresh clues on inflation and monetary policy, with markets pricing in an 88% chance of a 25-basis-point rate hike in December.
📰 In Other News
🐦 Nuclear Security Push
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Happy Speculating!
The Editor
🚨 DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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