Morning Briefing: A Gold Merger in Guinea and a New Silver Discovery by Highlander
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Monday October 6th.
Friday saw a record close for the spot price of gold. It closed the week at $3,884 as a trickle of economic data last week continued to show a weakening labor market in the US. Silver briefly traded above $48 on Friday, was was sold off a bit later in the day to close just below the mark. One sell-side analyst has predicted that the current rate of ETF inflows and industrial demand has shows probably less than four months of freely available silver left in London inventories. The lease rates for silver are surging to extreme levels. The paper-to-physical silver ration estimates are as high as 378:1, meaning hundreds of paper claims exist for each real ounce.
We’ll get to the news from the miners and explorers here in a moment, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Integra Resources
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
And here’s what you need to know this morning…..
Predictive Discovery and Robex Resources announced they have entered into a definitive agreement to combine in a merger of equals, whereby PDI will acquire all of the issued and outstanding Robex Shares by way of a statutory plan of arrangement. Following completion of the Transaction, the combined company will remain listed on the Australian Securities Exchange and will apply to list PDI’s ordinary shares on the TSX Venture Exchange. Following completion of the Transaction, existing PDI shareholders and former Robex shareholders will own approximately 51% and 49% respectively of the combined company on a fully diluted in-the-money basis. The implied market capitalization of the combined company is estimated at A$2,350 million (C$2,168 million) on a fully diluted in-the-money basis. PDI’s key asset is the Bankan Project in Guinea, which has estimated average production of approximately 250koz per annum over 12 years,7 and is advancing towards a final investment decision targeted for the second quarter of 2026. Robex is currently constructing the Kiniero Project in Guinea, which is on schedule to achieve first gold production in December 2025 and is expected to produce an average of 139koz per annum over 9 years.8 Robex also operates the Nampala gold mine (“Nampala Project”) in Mali, which is forecast to produce 46-47koz in 2025. (ASX: PDI) (TSX-V: RBX, ASX: RXR) News Release
Revival Gold reported new assay results from the company’s drilling program at the Mercur Project in Utah. Results from the first nine RC holes on the Marion Hill and Rover areas returned .85 g/t Au over 21.3m, .73 g/t Au over 22.9m and 1.04 g/t over 19.8m. The first core drill hole at Mercur Hill returned 1.52 g/t Au over 7.6m. Drilling is ongoing with two RC rigs and one core rig at Main Mercur focused on mineral resource conversion and metallurgical testing. (TSXV: RVG, OTCQX: RVLGF) News Release
Heliostar Metals announced additional results from the current drill program at the Ana Paula project in Mexico. The program has the primary goal of converting inferred ounces to higher confidence classifications, as well as supporting the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit. Results reported today included 88m of 8.82 g/t gold, which included 35.5m of 13.03 g/t start at 88.2m. Other results were 6.4m of 5.16 g/t Au, 14.3m of 4.19 g/t and 20.5m of 4.61 g/t Au. Heliostar has added a third drill to accelerate the drilling program and has completed 24 holes and 6,529 metres drilled to date. (TSXV: HSTR) (OTCQX: HSTXF) News Release
Highlander Silver announced the new discovery of the Kusy Zone at the Bonita Project in Central Peru. The results were the highest trades of gold and silver reported to date with 23.6m of 15.56 g/t Au and 74.49 g/t Ag in hole 21 and 7.4m of 8.1 g/t Au and 6.55 g/t Ag in hole 19. The next set of drill results are expected to be released when complete assays are received in approximately six weeks and will include follow up drilling in the new Kusy discovery and step-out drilling in the western exposure. (TSX:HSLV) News Release
Collective Mining says Agnico Eagle Mines, who has participation rights in equity financings of the Corporation, has indicated to the Company that it intends to exercise its participation right to subscribe for 789,473 Common Shares, at an issue price of C$19.00 per Common Share, that would result in Agnico holding 14.64% of the issued and outstanding Common Shares after giving effect to the Public Offering. The Common Shares to be issued to Agnico will be completed on a non-brokered private placement basis expected to close concurrently with the Public Offering. (NYSE: CNL) (TSX: CNL) News Release
In other financing news, Alaska Silver has closed its offering for $13.8M US News Release. Tinka Resources has closed its oversubscribed financing for C$14.2M while also naming Brandon Macdonald its new Executive Chairman. News Release
And in Mine construction news, Montage Gold says they are well on schedule for first gold pour in Q2-2027 and on-budget with more than $418m of capital committed, representing approximately half of the total upfront capital expenditure, with prices in-line with expectations.
Also, G Mining Ventures says it has secured commitments for up to US$537.5M to provide flexibility to advance the development and construction of its 100%-owned Oko West Gold Project in Guyana. News Release
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That’s it for today everyone. Have a great day. Stay safe.
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