The Dig – Haywood Mining Team’s week in review

POSTED ON November 07, 2014 BY Haywood Mining Team
CATEGORY The Weekly Dig,

HAYWOOD’S HERITAGE MOMENT: WHITE DWARFS – The first direct evidence that white dwarf interiors crystallize into huge diamonds was announced in February 2004. Many astronomers have believed for decades that white dwarfs could solidify into huge diamonds, but this is the first direct evidence. White dwarfs are the cooling cores of dead stars. They are made of carbon and only shine from residual heat as they gradually cool. (Source: Mining IQ)

Uranium Price Surges Ahead of Positive Vote in Japan - Spawns Sector Rally

Overnight in Japan 38 of 47 prefectural assembly members voted in favour of restart, and Yuichiro Ito, Governor of Kagoshima, announced his positive final approval decision shortly thereafter. The approvals open the door to complete the final step required ahead of restarts, which is plant safety inspections by the Japanese Nuclear Regulatory Authority. The Broker Average Price (BAP) for U3O8 rose 8.1% this week, up 3.8% on Thursday alone, before finishing at $41.00 per pound U3O8 on Friday evening. Final safety inspections of the Sendai units by the NRA in Japan should mean initial restarts in the first half of 2015. Meanwhile, the political turmoil in Burkina Faso continues after a military coup took place late last week that ousted President Blaise Compaore. Despite this, gold rallied late in the week rising to US$1,176 per ounce by Friday, up 0.43% while silver was down 2.35% to US$15.79 per ounce. Precious and base metals across the board fell during the week, with platinum and palladium down 1.59% and 2.48% to US$1,217 and US$773 per ounce respectively. Base metals were mixed for the week, with nickel and zinc falling 2.33% and 3.37% to US$6.97 and US$1.02 per pound respectively, while lead was up 1.57% to US$0.92 this week. Copper was unchanged for the week, finishing at US$3.08 per pound. WTI crude remained below $80 per barrel finishing at US$78.50 on Friday.

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[White Dwarf Star photo source]

Haywood Mining Team

Canadian mining companies have been among the industry leaders, creating new exploration and development undertakings and drawing on their recognized production expertise to generate new opportunities. Our mining research team follows all segments of this sector, covering base and precious metal sectors for large and small-cap companies. Haywood's mining sector coverage also continually seeks opportunities in the dynamic Canadian junior market sector, one that has a rich culture in exploration and development. More →

gmark@haywood.com

Haywood Mining Team

gmark@haywood.com

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