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Callinex Mines Inc V.CNX

Alternate Symbol(s):  CLLXF

Metals & Mining Industrial Metals & Minerals
Callinex Mines Inc. is a Canada-based company. The Company is advancing its portfolio of base and precious metals-rich deposits located in Canadian mining jurisdictions. The focus of the portfolio is the Rainbow and Alchemist deposits at its volcanogenic massive sulfide (VMS) Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. Pine Bay hosts a high-grade copper, zinc gold and silver Rainbow deposit. The second asset in the portfolio is the Nash Creek Project located in the VMS-rich Bathurst Mining District of New Brunswick. The third asset, the 100% owned Point Leamington Deposit in Newfoundland, is located in the VMS and gold districts in Canada. It owns a 100% interest in the Gossan Gold Project and the Superjack Project. The Company’s other properties include the Sneath Lake property, Coles Creek property, Fox River property, Moak Lake property, Herblet Lake property, Headway property, Headway North claim and the Island Lake properties.


TSXV:CNX - Post by User

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Post by Goodtoreadthis1on May 30, 2022 8:39pm
255 Views
Post# 34718613

Zinc price rises

Zinc price rises

Mining News

Low inventories fuel zinc's climb to three-week high

Reuters
 
Reuters  
 

Kitco News

LONDON, May 30 (Reuters) - Zinc prices rose to their highest in more than three weeks on Monday, boosted by stronger demand expectations as COVID lockdowns ease in top consumer China, low inventories and a sliding dollar.

 


Benchmark zinc on the London Metal Exchange (LME) was up 1.2% at $3,891 a tonne by 1601 GMT. Prices of the metal used to galvanise steel earlier touched $3,995.50 a tonne, its highest since May 5.

 


"Optimism about Chinese demand has resurfaced; it looks like restrictions will be lifted gradually," one zinc trader said. "But, really, the zinc story is all about stocks and output cuts."

 


INVENTORIES: Zinc stocks in LME-registered warehouses, at 84,700 tonnes, are at their lowest since April 2020. Cancelled warrants — metal earmarked for delivery — at 48% suggest more metal is due to leave LME warehouses.

 


EUROPE: Shortages of zinc are particularly acute in Europe,
where record-high power costs have led to production cuts.

 


Europe accounts for about 15% of global refined zinc production capacity estimated at about 14 million tonnes in 2022.

 


Zinc stocks in LME warehouses in Europe stand at 225 tonnes, but only 25 tonnes of this is available to the market.

 


Worries about supplies have widened the premium for the cash contract over three-month sinc to $25 a tonne, compared with $1 two weeks ago.

 


TECHNICALS: Zinc prices face resistance at the 50-day moving average of about $4,010 while strong support comes from the 100-day moving average around $3,840.

 


DOLLAR: A weaker U.S. currency makes dollar-denominated metals cheaper for holders of other currencies, which could boost demand for industrial metals.

 


OTHER METALS: Copper was up 0.9% at $9,542 a tonne, aluminium rose 0.6% to $2,888, lead gained 0.7% to $2,175, tin added 1.6% to $34,645 and nickel jumped by 3.5% to $29,275.

 


Traders say a lack of liquidity is behind the large moves in nickel prices.

 


(Reporting by Pratima Desai Editing by Jason Neely and David Goodman)
 
Disclaimer: The views expressed in this article are those of the au

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