Morning Briefing: Agnico Eagle Mines Announces Investment In Wallbridge Mining
Good morning and welcome back to the Mining Stock Daily morning briefing. I am Michael McCrae, covering for Trevor Hall.
It’s Wednesday, May 20.
Markets are looking green after recent drops. The Dow, S&P and Nasadaq futures are all up. Gold futures are mostly sideways at $4,506, while oil futures have dropped to the $100 level. Copper futures gained 0.7% to $6.25. Markets are anticipating first quarter results from NVIDIA. The 10-year Treasury yields’ recent rise is tempered but still high at 4.64% due to Iran war and inflation worries.
According to Reuters, The European Union has shortlisted tungsten, rare earths and gallium. The EU is building its own member nation stockpile of critical minerals aimed at reducing its reliance on China. A number of countries are creating stockpiles after export curbs that were enacted by China. Bloomberg reported that Chile’s top copper producer, Cochilco, has lowered guidance. Next year’s production will fall 2% due to lower ore grades, maintenance and operational constraints.
We’ll get to the news from the miners and explorers in just a moment, but first a word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Equinox Gold.
Equinox Gold is a growth-focused gold producer operating mines across the Americas. With cornerstone assets like the Greenstone Mine in Ontario and the Valentine Gold Project in Newfoundland & Labrador, Equinox is advancing a new generation of large-scale, long-life gold operations. Learn more about their portfolio and development pipeline at equinoxgold.com.
Here’s what you need to know today.
Collective Mining has announced the discovery of a new oxidized gold-silver zone at the northern portion of its Apollo target in Caldas, Colombia. Drilling and surface mapping have defined a continuous mineralized corridor roughly 700 meters long, 200 meters wide, and up to 100 meters deep, with standout intercepts including 71.20 meters at 1.95 g/t gold equivalent from surface. The zone is fully oxidized to about 45 meters depth and appears to be the result of supergene enrichment above a deeper sulphide system. Metallurgical test work is underway, and if results are positive, the company plans to drill the zone more aggressively with the aim of including it in its maiden NI 43-101 mineral resource estimate, targeted for mid-2027. Collective, which holds US$113.3 million in cash, expects to have 14 drill rigs operating by end of Q2 2026 as part of a planned 100,000-meter drill program this year (NYSE/TSX: CNL). News Release
Sigma Lithium is appealing what the company calls a surprise ruling issued May 17 by a local Brazilian judge in Aracuaí that included a potential US$10 million legal collateral. The case involves the company’s waste disposal. The company said no payments are currently due and that the full appeals process — which could take multiple years — must be completed before any elements of the ruling are enforced. Sigma Lithium has traded down 25% in the last five days (NASDAQ: SGML). News Release
Agnico Eagle, the world's second-largest gold producer, has agreed to purchase approximately 244 million additional shares of Wallbridge Mining at C$0.092 per share for total consideration of roughly C$22.4 million, which will increase its ownership stake in Wallbridge from approximately 9.4% to nearly 19.6% on a non-diluted basis (NYSE/TSX: AEM). News Release
Gold Hart Copper is advancing its flagship Tolita gold-copper-molybdenum-silver porphyry asset in Chile's Vicuña District, completing its deepest-ever drill hole at approximately 1,053 meters, with the company believing it entered the potentially mineralized system of interest between 200 and 400 meters depth. Geologists observed multiple generations of veinlets and stockworks with strong hydrothermal alteration consistent with a fertile porphyry-style environment, including chalcopyrite and bornite mineralization. On the Nessa front, re-analysis of 13 surface samples returned higher grades in 12 cases, with seven samples grading between 1.25% and 4.73% copper, including four exceeding 2.40% copper, and the company is planning a large-scale geochemical grid of 500 to 1,000 samples over Nessa to sharpen drill targeting (TSXV: HART). News Release
Great Pacific Gold has provided a comprehensive exploration update on its flagship Wild Dog Project in Papua New Guinea, highlighting progress across six main target areas spanning roughly 4.5 km of interpreted epithermal vein structure. At Sinivit, 2025 drilling identified two high-grade ore shoots with standout intercepts including 8.4 meters at 50.1 g/t gold equivalent, while the newer Kavasuki target returned a broad near-surface interval of 38.4 meters at 2.23 g/t gold equivalent from seven drill holes in 2026. Additional targets including Magiabe, Mengmut, and Morgan have been expanded through mapping and channel sampling, with the newly identified Morgan structure now traced to 850 meters of strike length. The company plans a further 10,000 meters of diamond drilling from May through December 2026 to systematically test these priority targets (TSXV: GPAC). News Release
Vizsla Copper has commenced an up to 8,000-meter, two-rig drill program at its Woodjam Project in central British Columbia, targeting three areas: Three Firs, where drilling will chase the source of a newly discovered mineralized breccia system; Great Plains, an untested 2x2 km chargeability anomaly located 4 km south of the existing Southeast deposit; and Deerhorn, where 2024 drilling returned 86 meters of 0.91 g/t gold and drilling will now test the southern extension of that high-grade zone. Meanwhile, Phase 1 drilling at the Poplar Project has wrapped up with over 11,200 meters completed across 21 holes at three targets, highlighted by a standout interval of 675.2 meters of 0.40% copper equivalent at the Thira Discovery — the longest continuous porphyry-related interval drilled there to date — with Phase 2 to follow once all assays are received and Woodjam drilling is complete (TSXV: VCU). News Release
DPM Metals has reported strong delineation drilling results from its Wedge Zone Deep prospect at the Chelopech mine in Bulgaria, with standout inter…DPM Metals (TSX: DPM) has reported strong delineation drilling results from its Wedge Zone Deep prospect at the Chelopech mine in Bulgaria, with standout intercepts including 58 meters at 15.28 g/t gold equivalent and 81 meters at 8.05 g/t gold equivalent, grades more than double the existing mine's reserve grade of 2.18 g/t gold. The mineralized zone, located roughly 250 meters below existing mine infrastructure, has now been defined over 170 meters of strike, 130 meters in width, and 300 meters of vertical extent, remains open in multiple directions, and is on track for an initial mineral resource estimate by year-end 2026 as part of Chelopech's annual reserve update (TSX: DPM). News Release
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That's it for today everyone. Have a great day. Stay safe.
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