Morning Briefing: Alphamin Resources has a New Majority Shareholder
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Wednesday, June 4th.
Gold is holding steady this morning, slightly in the green in early morning trading hours. The yellow metal is up just over six dollars currently at time of recording to $3,383 per ounce. There is key economic data this week, including Friday’s non-farm payrolls which could possibly effect the gold price and provide a bit more clarity of Federal Reserve Policy. We will keep an eye on the market response to those. Silver is also spending this morning playing it cool after Monday’s big runup. Its down about 9 cents to 34.54/oz.
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…Vizsla Silver
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And here’s what you need to know this morning…..
International Resource Holdings and Tremont Master Holdings have entered into a definitive agreement for IRH to acquire Tremont’s majority interest in Alphamin Resources. IRH will acquire 56% of the company through the acquisition through the purchase of over 718 million shares at a price of $.70 CAD per share. This is a meaningful discount to yesterday’s closing price of Alphamin, which closed its TSXV listing at .92 per share. IRH and Tremont intend to complete the Transaction by way of a block trade over a stock exchange.
Minera Alamos provided an update on the development at the Copperstone Mine in Arizona. The company says the amended Mine Plan of Operations has been submitted in final form to satisfy the requirements of the United States Code of Federal Regulations administered by the US Bureau of Land Management. ll key permits have been received with exception of minor amendments which are due to a slight change in processing technology. The final amendment to the project's MPO is expected to be received prior to YE-2025 which allows full re-start of the Copperstone Mine. Under the authorization from the existing site permits, site development activities can be initiated in parallel with the pending MPO amendment in order to "fast-track" the project restart. Project finance discussions continue with a number of interested parties that have provided indicative term sheets. The Company is evaluating all options to support the development restart. (TSXV: MAI) (OTCQX: MAIFF) News Release
Sanu Gold reported preliminary results from its ongoing 2025 drill program, which has mainly focused on its Daina gold exploration permit, located in the prolific Siguiri Basin of Guinea, West Africa. Following the new Daina 2 Target discovery announced earlier this year, further drilling has successfully confirmed mineralization between the Daina 2 Main and the Daina 2 South zones, thereby extending the mineralization by approximately 1,000 meters to a strike length of at least 1,500 meters. Highlights of today’s results included 26m of 2.54 g/t Au, 32m of 1.24 g/t and 10m of 1.54 g/t Au. Mineralization remains open to the south where the trends defined in the ground geophysics indicate the main structure continues for a further 1,000 meters. (CSE: SANU) (OTCQB: SNGCF) News Release
Fireweed Metals announced the launch of its 2025 field program with planned project advancement and exploration activities across its Mactung, Macpass, Gayna, and North Canol Infrastructure Improvement (NCIIP) projects. The 2025 Program includes up to 26,000 m of combined diamond drilling across the three critical metals projects, including up to 12,000 m at Macpass, up to 11,000 m at Mactung, and approximately 3,000 m at Gayna. At Macpass, additional regional work will also be conducted to refine target areas and build upon historical exploration efforts across the broader district. Fieldwork is now underway at Macpass, with work at Mactung and Gayna expected to follow. (TSXV: FWZ) (OTCQX: FWEDF) News Release
Valkea Resources announced a non-brokered private placement of up to 12,000,000 units of the Company at a price of C$0.25 per Unit for gross proceeds of up to C$3,000,000. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant of the Company. Proceeds from the Financing will be used for exploration and working capital purposes. (TSXV: OZ) News Release
Marimaca Copper announced a proposed non-brokered private placement of over 5 million common shares of the company at a price of C$4.60 per Share, for gross proceeds of approximately US$17,700,000 or approximately C$24,433,000. The Private Placement is expected to be subscribed for by existing insider shareholders of the Company, Assore International Holdings Limited and Ithaki Limited, with each subscribing for 2,250,000 Shares and contributing approximately C$10,350,000. An additional institutional investor together with its affiliates will subscribe on the same terms as AIH and Ithaki for the remaining Shares. (TSX: MARI) (ASX: MC2) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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