Morning Briefing: Anglo American Sheds Coal Assets, Central Bank Gold Buying to Rise
Good morning and welcome back to the Mining Stock Daily morning briefing. I am Michael McCrae, covering for Trevor Hall.
It’s Tuesday, May 19. Canadian markets were closed on Monday for a national holiday.
This morning American markets are mixed with tech down and energy and industrials up. As of 8 a.m. ET, Nasdaq is off .65%. Treasury yields have retreated slightly after hitting their highest level in over a year last week. Gold futures are down slightly, off 0.36% to $4,541 an ounce. Copper futures are down to $6.24 after dropping 6% over the past five days.
Mining headlines are Anglo American to sell Australian coal mines for up to $3.8bn ahead of the company’s planned merger with Teck Resources. The Ghanian government has asked large miners in its country to sell its gold to the country’s central bank. Commercial terms are not yet determined. According to Goldman Sachs, central banks bought more gold than previously thought and are poised to ramp up their purchases further into 2026.
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…Vizsla Silver.
Vizsla Silver is advancing the Panuco silver-gold project in Sinaloa, Mexico — one of the highest-grade silver development projects in the world. The project hosts the world's largest, undeveloped high-grade silver resource, and the company has been aggressively expanding its drill program to grow that resource ahead of a development decision. Learn more at vizslasilver.ca.
And here's what you need to know this morning…..
Coppernico Metals Inc. has reported additional surface channel sampling results from the Nioc target area at its Sombrero copper-gold project in Peru, with highlights including a combined channel interval of 70.1 metres grading 0.92% copper, 0.25 g/t gold, and 2.45 g/t silver, and a step-out channel 120 metres to the north returning 58.0 metres of 0.58% copper and 0.39 g/t gold. These results nearly double the previously reported east-west surface mineralization width at Zone 2 to approximately 70 metres, strengthening drill targeting confidence above a large coincident geophysical anomaly extending more than 1.5 kilometres across and modelled to at least 500 metres depth. The Company is advancing permit expansions and preparing for its next phase of drilling at the nearby Fierrazo discovery within the same broader skarn cluster (TSX: COPR). News Release
1911 Gold Corporation has announced the commencement of underground drift development at its True North Gold Project in Southeastern Manitoba, with development crews initiating blasting on Level 16 at the end of April 2026 and focusing on the L10 and Hinge zones as primary targets for test mining. The preliminary mine plan calls for 3,551 metres of total new development encompassing ramp access, sill drives, and essential infrastructure, with an underground development contract awarded and additional equipment arriving in the coming months to accelerate progress. Material recovered from test mining will be processed following completion of a new crushing circuit in preparation for full production in 2027 (TSXV: AUMB). News Release
American Pacific Mining Corp. has launched a field reconnaissance and surface sampling program at its Red Hill Gold Project in Eureka County, Nevada, with a key outcome being the rediscovery of a large jasperoid outcrop featuring strong barite mineralization and brecciation phases commonly associated with Carlin-style gold systems. The 1,500-acre project, located approximately 24 kilometres southeast of the Cortez Hills gold deposit, has returned previous drill intercepts including 24.4 metres grading 4.99 g/t gold, and the Company believes it remains underexplored for deeper targets. Rock samples have been submitted to ALS Global Laboratories with results expected in Q2 2026 (CSE: USGD). News Release
Koryx Copper S.A. has reported assay results from 17 drill holes totalling 5,252 metres at its wholly-owned Haib Copper Project in southern Namibia, with highlights including 150 metres of 0.45% copper equivalent in hole HM132 and 52 metres of 0.62% CuEq in hole HM124, with results demonstrating consistent, wide mineralization and significant molybdenum and gold byproduct credits across all target areas. The Company is operating with 14 drill rigs on site, and an updated mineral resource estimate will be incorporated into a Pre-feasibility Study planned for release before the end of 2026. Haib is envisaged as a long-life, low-cost open-pit operation with average annual production of 92,000 tonnes of copper in clean concentrate over a 24-year mine life (TSX: KRY.V). News Release
Sierra Madre Gold and Silver Ltd. reported record quarterly revenues of US$10.1 million for Q1 2026, up significantly from US$5.0 million in Q1 2025, driven by rising commodity prices and a steady production base, with adjusted EBITDA of US$2.8 million and cash from operations of US$3.5 million. The Company sold 128,827 silver equivalent ounces during the quarter, producing 58,506 ounces of silver and 932 ounces of gold, while cash costs of $42.55 per AgEq ounce were elevated due to ramp-up activities at the Coloso and Nazareno mines, inflationary pressures, a strengthening Mexican peso, and higher royalty payments tied to elevated commodity prices. Looking ahead, the first phase of the La Guitarra plant expansion — targeting an increase in mill capacity from 500 to 750-800 tonnes per day — is on schedule for completion by the end of Q2 2026 (TSXV: SM). News Release
Newcore Gold Ltd. has upsized its previously announced bought deal financing, with Haywood Securities Inc. and a syndicate of underwriters agreeing to purchase 28,310,000 common shares at $0.53 per share for aggregate gross proceeds of $15,004,300, with closing expected on or about May 28, 2026. Proceeds will be used to fund exploration and development activities at the Company's Enchi Gold Project in Ghana, as well as for general corporate and working capital purposes (TSX-V: NCAU). News Release
Minera Alamos Inc. has announced its intention to exercise an option to repurchase 0.75% of the net smelter return royalty on its Cerro de Oro gold project in Zacatecas, Mexico from Auramet Capital Partners for US$4.5 million, a condition required for the closing of its proposed revolving credit facility with The Bank of Nova Scotia and National Bank of Canada. The US$4.5 million purchase price will be satisfied through the issuance of 895,572 common shares to Auramet at C$6.91 per share, subject to TSX Venture Exchange approval (TSXV: MAI). News Release
Apex Critical Metals Corp. has announced a brokered private placement of up to 5,264,000 units at C$1.90 per unit, seeking gross proceeds of up to C$10,001,600, with each unit comprising one common share and one warrant exercisable at C$2.60 for 24 months, led by Canaccord Genuity Corp. and expected to close on or about June 2, 2026. Proceeds will be used to fund exploration at the Company's Rift, CAP, and Lac Le Moyne Projects, as well as for general working capital purposes (CSE: APXC). News Release
District Metals Corp. has reported highly encouraging results from its collaboration with Swedish water treatment innovator Xoma AB, focused on purifying water impacted by metal leaching from mineralized Alum Shale at its Viken Property in central Sweden, with Xoma's microalgae-based FLOW technology demonstrating a consistent and substantial reduction in key metal concentrations across multiple treatment stages. Notably, when a double algae dose was applied, Swedish drinking water quality thresholds for key parameters including nickel and uranium were achieved after just a single treatment step (TSXV: DMX). News Release
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That's it for today everyone. Have a great day. Stay safe.
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