Morning Briefing: Bravada Gold Publishes PEA for Wind Mountain

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

It's Monday, August 31st — new military engagements in the Strait of Hormuz are keeping safe-haven metals in focus this morning, a major strategic investment closes in the nickel-copper space, and we've got a compelling new PEA out of Nevada.

Gold is essentially flat this morning, up just 0.06% to $4,456 an ounce — holding firm after a retreat to end the week. Silver is outperforming, up 1.73% to $67.30. Copper is ticking higher, up 0.56% to $6.60 a pound. And in a number that tells you something about this morning's macro story — crude oil is jumping hard, WTI up 3.58% to $86.39 a barrel and Brent up 3.15% to $90.88.

The situation in the Strait of Hormuz continues to escalate. US Central Command has struck Iranian naval vessels and mine-laying ships used to harass shipping in the Strait, while a Kuwait-flagged oil tanker off the Dubai coast was hit by an Iranian drone strike. It’s the latest in a string of attacks that have kept commercial vessels away from one of the world's most critical energy corridors since conflict erupted in late February. Diplomatic efforts are underway but the market is treating this as an ongoing risk. With roughly 20% of global oil supply moving through Hormuz, any sustained disruption carries inflationary consequences that historically support precious metals.

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…Integra Resources.

Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com

Here’s what you need to know today. 

Magna Mining has closed its C$140 million strategic private placement with Alpayana. They purchased 62,356,682 shares at C$2.25 per share, giving it a 19.9% stake in Magna alongside board nomination rights and a participation right in future financings. The proceeds will be used to advance Magna's copper, nickel and precious metals projects in the Sudbury basin of Ontario, Canada, anchored by the producing McCreedy West Mine and a development pipeline that includes Levack, Crean Hill, Podolsky and Shakespeare; Magna Mining trades on the TSX as NICU and on the OTCQX as MGMNF. NEWS RELEASE

Perpetua Resources is reporting tangible construction progress at the Stibnite Gold Project in central Idaho. Autoclave components are being fabricated at a facility in Europe, approximately half of the permanent worker housing units have been delivered to site as of August 24th, and the US Forest Service has designated the Burntlog Route as its preferred access road under NEPA, clearing a key infrastructure hurdle. On the exploration front, four drill rigs are active and have returned high-grade intercepts at the Clark Tunnel Fault Zone including 6.4 metres of 16.2 grams per tonne gold and 1.7% antimony from surface, plus a new gold-tungsten discovery of 21.3 metres at 3.2 grams per tonne gold and 0.9% tungsten from 24 metres depth. A US District Court ruling on August 18th upheld federal project approvals, and construction continues to advance; Perpetua Resources trades on the Nasdaq and TSX both under PPTA. NEWS RELEASE

Bravada Gold has published an updated PEA for its 100%-owned Wind Mountain Gold-Silver Project in northern Nevada. It is a brownfield heap-leach restart opportunity 160 kilometres northeast of Reno. The report delivered an after-tax NPV of US$415 million at a 5% discount rate, a 60% after-tax IRR, and a 2.0-year payback at US$3,600 per ounce gold, with an 11.2-year mine life. Life-of-mine production comes in at 454,000 ounces of gold and 3.1 million ounces of silver, an all-in sustaining cost of US$1,653 per ounce, and total project capital of US$139 million including a 20% contingency. Bravada plans to move directly into a Pre-Feasibility Study in the second half of 2027; Bravada Gold trades on the TSX Venture Exchange as BVA and on the OTCQB as BGAVF. NEWS RELEASE

Vizsla Copper has expanded its 2026 diamond drill program at the Palmer copper-zinc VMS project in Southeast Alaska from 10,000 metres to approximately 12,250 metres following encouraging results across three target areas. Two holes have now visually confirmed the high-grade core of Zone 1, with hole CMR26-199 intersecting 49.2 metres of chalcopyrite- and sphalerite-bearing massive sulphide mineralization from 305 metres depth, and a new visual sulphide discovery has been made at the HG Prospect approximately two kilometres southwest of the main deposit, where CMR26-208 intersected two metres of massive sulphide from 181.5 metres and four additional holes hit the prospective altered horizon. Assay results from all holes are pending; Vizsla Copper trades on the TSX Venture Exchange as VCU and on the OTCQB as VCUFF. NEWS RELEASE

Barksdale Resources has completed its Phase II earn-in at the Sunnyside copper-zinc-lead-silver project in the Patagonia Mining District of southern Arizona — paying $550,000 in cash and issuing 4.9 million shares to joint venture partner Great Basin Metals, lifting Barksdale's ownership of Arizona Standard LLC to 67.5% from 51% and securing management committee control ahead of a planned Fall 2026 drill program and airborne ZTEM survey. Barksdale Resources trades on the TSX Venture Exchange as BRO and on the OTCQB as BRKCF.NEWS RELEASE

Centauri Minerals begins trading on the TSX Venture Exchange today under the symbol CENT. Centauri is a new independent public company spun out of Aldebaran Resources, continuing the chain of successful spinouts that also produced Regulus Resources and before that Antares Minerals. Centauri holds 100% of approximately 40,000 hectares of exploration projects across the provinces of Salta, Jujuy and Catamarca in Northern Argentina, with its most advanced asset being the Rio Grande gold-copper project in Salta, which hosts an NI 43-101 mineral resource; the company raised more than $30 million ahead of its listing and is targeting the first drill program at Rio Grande since 2013 in the fourth quarter of this year.  Centauri Minerals trades on the TSX Venture Exchange as CENT. NEWS RELEASE

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