Morning Briefing: Boliden Acquires Controlling Stake in Nexa Resources

Good morning and welcome back to the Mining Stock Daily morning briefing.

It's Thursday, August 27th — new Fed Chair Kevin Warsh takes the stage at Jackson Hole tomorrow for his first address in that role, copper is pulling back from this week's records, and we've got a billion-dollar deal in the zinc space to kick things off.

Gold is edging higher, up 0.11% to $4,599 an ounce — steady after a big run. Silver is also in the green this morning, up 0.36% to $68.34. Copper is giving back more of this week's gains, off 0.55% to $6.56 a pound.

Copper set another record in New York early yesterday morning, and then gave it all back. Reports out of London suggesting the squeeze on that exchange was beginning to ease triggered profit-taking, and the metal retreated from those highs. But the structural picture is largely unchanged: US tariff threats have been pulling physical metal into American warehouses at pace, keeping supplies tight everywhere outside the United States, and the market is still waiting on Washington's final tariff decision to determine whether this disruption deepens or starts to unwind.

We will get to the news from the miners and explorers in a moment, but first a mention of today’s sponsor:

Today's episode of Mining Stock Daily is brought to you by…Revival Gold.

Revival Gold is one of the largest pure gold mine developers in the United States, advancing two high-quality gold projects: the Beartrack-Arnett Gold Project in Idaho and the Mercur Gold Project in Utah. Revival Gold trades on the TSX Venture Exchange as RVG and on the OTCQX Market as RVLGF.

Here’s what you need to know today. 

The biggest mining M&A story of the morning: Swedish metals giant Boliden has struck a deal to acquire Votorantim's controlling stake in Nexa Resources for approximately $1.31 billion, at $15.29 per share, representing a 14.2% premium to Nexa's 20-day volume-weighted average price. Votorantim will receive 21.4 million newly issued Boliden shares representing roughly 7% of Boliden. Nexa is one of the world's leading zinc producers, operating five polymetallic mines and three smelters across Brazil and Peru. Nexa Resources trades on the NYSE as NEXA.

Copper Giant Resources has released assay results from two holes at the Mocoa copper-molybdenum porphyry project in Putumayo, Colombia. Hole MD-070 returned 771 metres of continuous mineralization at 0.54% copper equivalent, including 102 metres at 0.87% CuEq from 396 metres. Hole MD-068 intersecting a near-surface zone of 157 metres at 0.69% CuEq plus a deeper interval of 154 metres at 0.54% CuEq from 526 metres, below the depth reached by historic vertical drilling and carrying better grade at depth as the alteration moves toward the potassic core of the system. Copper Giant says all workstreams for a Preliminary Economic Assessment remain on track for Q4 2026 at Mocoa. Copper Giant Resources trades on the TSX Venture Exchange as CGNT and on the OTCQB as LBCMF. NEWS RELEASE

Nine Mile Metals has reported results from DDH WD-26-10 at the Wedge Mine in the Bathurst Mining Camp of New Brunswick. The hole intersecting a 31.95-metre massive sulphide VMS zone at 2.52% copper equivalent from 109 metres depth, including 14.15 metres at 3.73% CuEq and a high-grade core of 4.15 metres at 5.16% CuEq, with silver, gold, lead, and zinc values increasing with depth demonstrating the multi-metal character of the deposit. The company says the hole strengthens its view of the deposit's economic viability and the 3D model continues to be refined toward a future mineral resource estimate. Nine Mile Metals trades on the CSE as NINE and on the OTCID as VMSXF. NEWS RELEASE

Heliostar Metals has commenced open pit mining at the Veta Madre pit at its La Colorada Mine in Sonora, Mexico, marking what the company calls a critical step in its plan to secure cash flow through 2027 and 2028 to support construction at its flagship Ana Paula project in Guerrero. The Veta Madre pit hosts 48,000 ounces at 0.71 grams per tonne within La Colorada's broader reserve of 376,000 ounces, and Heliostar has designed an expanded pit targeting an additional 20,000 ounces beyond the current reserve. Heliostar Metals trades on the TSX Venture Exchange as HSTR and on the OTCQX as HSTXF. NEWS RELEASE

American Eagle Gold has closed its option agreement with Eagle Plains Resources, expanding the NAK copper-gold porphyry project in British Columbia's Babine Porphyry District from approximately 1,632 hectares to 9,283 hectares — a roughly 470% increase — with the optioned claims lying along trend from and within 4.5 kilometres of the NAK deposit. American Eagle Gold trades on the TSX Venture Exchange as AE and on the OTCQB as AMEGF. NEWS RELEASE

Kenorland Minerals and Targa Exploration have commenced the Phase 2 diamond drill program at the Opinaca Project in the James Bay Region of Quebec. It’s a $3.9 million, up to 4,400-metre campaign designed to test the lateral continuity and scale of the intrusion-hosted gold system discovered in the maiden drill program in Q4 2025 over a 4-kilometre target area, with hole fences spaced 0.5 to 1 kilometre apart. The 85,267-hectare property is 100% owned by Targa; Kenorland operates and holds a 3% net smelter return royalty; drilling is expected to conclude in early September. NEWS RELEASE

Mithril Silver and Gold has reported wide, high-grade drill results from the Copalquin-Zaragoza structure at Target 4 on its district-scale Copalquin property in Durango, Mexico. Hole CO26-001 returned 11.70 metres at 456 grams per tonne silver equivalent from 22 metres depth, including 3.40 metres at 1,239 g/t AgEq and a peak of 0.60 metres at 3,877 g/t AgEq. Hole CO26-002 returned 13.95 metres at 387 g/t AgEq including 1.00 metre at 1,747 g/t AgEq. The results confirm mineralization over 550 metres of strike length within a structure interpreted to have a potential total strike of 1.5 kilometres, open along strike and at depth. Mithril Silver and Gold trades on the TSX Venture Exchange as MSG, on the ASX as MTH, and on the OTCQB as MTIRF. NEWS RELEASE

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