Morning Briefing: Another big day for gold

Good morning and welcome back to the Mining Stock Daily morning briefing. I am not Trevor Hall. I am Michael McCrae, hosting for Trevor who is at the AME Roundup. 

It’s Thursday, January 29.

Gold futures hit a high of $5,626 yesterday. It was the metal’s largest one day dollar gain in history, noted the CME Group.Currently the metal is trading at $5,561.  Silver is at $118 this morning. Copper futures went vertical yesterday and jumped from the $5 range to now trading at $6.30 level. Year to date, major copper miner Freeport McMoRan is up 22%. 

Bloomberg noted that US aluminum premium topped $1 per pound for the first time. Aluminum prices in the US have been rising faster than for international counterparts for much of this past year because of tariffs.

While metals were up, the US Dollar Index hit a four year low as investors cycle into metals. 

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…Revival Gold  

Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-gold.com

And here’s what you need to know this morning….. 

Borealis Mining Announces First Production Blast at Borealis Gold Mine, Nevada. Following the successful blast, material will be excavated and hauled to the heap leach pad as part of the Company’s planned mining sequence. Borealis Mining aims to be Nevada’s newest mid-tier mining company. The goal is 100,000 ounces annually. (TSX-V: BOGO) News release

Hecla Mining said it produced 17.0 million ounces of silver, at the top end of its consolidated guidance. It plans to spend $55 million on exploration and pre-development. Consolidated silver production guidance of 15.1-16.5 million ounces, consolidated gold production guidance of 134-146 thousand ounces. The company traded down about 4% to $27.18. (NYSE:HL) News release

K92 Mining said production in 2026 is expected to be 190,000 to 225,000 ounces gold equivalent, up from 174,000 in 2025. K92 was up 1.55%. (TSX: KNT) News release 

Reuters reported that The Trump administration is stepping back from plans to guarantee a minimum price for US critical minerals projects. During a private meeting, two senior Trump officials told US minerals executives that their projects would need to prove their financial independence without government price support, three attendees told Reuters.

Yesterday Vizsla Silver said that ten individuals had been taken from its project site in Concordia, Mexico. The Tijuana-based newspaper Zeta reported that ten engineers were kidnapped. Vizsla Silver said that the incident is currently under investigation, and information remains limited. As a precaution, certain activities at and near the site have been temporarily suspended. (TSX: VZLA) News release

Cartier Resources has filed its updated NI 43-101 mineral resource estimate technical report for its 100%-owned Cadillac Project in Val-d’Or, Quebec, which incorporates about 110,000 m of Cartier drilling and 420,000 m of historical drilling to outline significantly expanded gold resources. The updated estimate shows total measured & indicated gold of ~767,800 oz (7% increase) and inferred gold of ~2,416,900 oz (48% increase) versus the prior 2023 PEA, highlighting strong growth and consolidation across the project’s sectors. The full technical report is available on Cartier’s website and SEDAR+, underscoring enhanced confidence in the project’s scale and development optionality (TSX-V: ECR). News release

Minera Alamos announced that a subsidiary of Equinox Gold has agreed to sell 9,680,281 of its common shares to a group of strategic investors at C$5.80 per share, generating about C$56.1 million in gross proceeds to the seller and including a purchase by the company’s EVP of Corporate Development. The share sale relates to equity originally issued as part of the consideration for Minera Alamos’s acquisition of the Pan Operating Complex, with closing expected in early February 2026 (TSX-V:MAI). News release

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That’s it for today everyone. Have a great day. Stay safe. 

The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.