Morning Briefing: Brent Crude and US Treasury Yields Rise, Gold Pulls Back
Good morning and welcome back to the Mining Stock Daily morning briefing.
It's Tuesday, May 12.
Gold rose to touch its 50-day moving average before being rejected and pulling back — now at $4,710 an ounce. Silver is down over 1.5% to $84.51. Copper is little changed at $6.49 a pound after yesterday's big move — a new high. Supply continues to tighten, driven not only by the prolonged Grasberg restart but also by a shortage of sulfuric acid needed for heap leach operations globally.
The April CPI print drops this morning — a key data point for precious metals given the Fed's policy stance. Elsewhere, the US-Iran ceasefire framework remains stalled with no confirmed response from Tehran. And Thursday's Trump-Xi summit looms large for copper and broader commodities — any signal on trade normalization could move the market.
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 a large near-surface resource with exceptional grades, and the company has been aggressively expanding its drill program to grow the resource ahead of a development decision. Learn more at vizslasilver.ca.
And here's what you need to know this morning…..
Minera Alamos has announced a series of board and management changes alongside a proposed name change to Mining Americas Inc. On the board, seasoned mining executive Darren Pylot will be nominated as Chairman at the company's AGM, with current Chairman Jason Kosec stepping down. In management, Darren Koningen — the current President and CEO — will transition to President and COO and remain a Director. Darren Blasutti, who was appointed Executive Vice President of Corporate Development in October 2025, moves into the CEO role. The proposed name change to Mining Americas Inc. is subject to shareholder approval at the June 25 AGM (TSX-V: MAI, OTC: MAIFF). News Release
Heliostar Metals has reported record Q1 2026 financial and operating results, with gold production of 11,743 ounces at an average realized price of $4,850 per ounce generating record mine operating earnings of $30.9 million and net income of $14.0 million. Cash costs were $1,602 per ounce and all-in sustaining costs were $1,996 per ounce — both tracking ahead of full-year guidance. The company remains on track for 50,000 to 55,000 ounces of gold production in 2026 (TSX-V: HSTR, OTCQX: HSTXF). News Release
Mithril Silver and Gold has released the first results from Target 1 at the Copalquin gold-silver project in Durango, Mexico, with hole MSD-25-04 returning 7.00 grams per tonne gold and 370 grams per tonne silver over 9.65 metres including a high-grade core of 30.7 grams per tonne gold and 1,780 grams per tonne silver over 0.5 metres. Target 1 is one of ten historically productive areas within the 70-square-kilometre Copalquin district, and Mithril is running up to 25,000 metres of drilling across the district in 2026 (TSX-V: MSG, OTCQB: MTIRF). News Release
Tudor Gold has reported positive metallurgical test results for the Treaty Creek gold-copper-silver project in BC's Golden Triangle, with conventional flotation returning gold recoveries of 80.2% to 85.1% and copper recoveries of 85.8% across two ore domains. The concentrate grades are 33.6 grams per tonne gold in the SC-1 Zone and 36.5 grams per tonne gold with 30.3% copper from the Lower CS600 Zone. Overall anticipated recoveries are estimated at 80 to 90% for gold, 75 to 85% for silver, and 75 to 85% for copper — results that support the preliminary economic assessment currently underway (TSX-V: TUD, OTC: TDRRF). News Release
Fortune Bay has reported drill results from the Golden Pond target within its Goldfields Gold Project in Saskatchewan, with hole GP26-02 returning 1.20 grams per tonne gold over 23.2 metres from approximately 10 metres below surface, including 4.68 grams per tonne over 3.2 metres and 12.20 grams per tonne over 1.0 metre. All seven holes in the program intersected gold mineralization, extending a shallow historical gold occurrence approximately 2 kilometres from planned mine infrastructure at the Box deposit. Golden Pond currently has no mineral resource estimate (TSX-V: FOR, OTC: FTBYF). News Release
1911 Gold has confirmed an extension of the L10 Zone at the True North Gold Project in southeast Manitoba, with hole UG-26-055 intersecting 11.54 grams per tonne gold over 3.70 metres at 224 metres depth — including 20.20 grams per tonne gold over 0.70 metres — confirming the V-1012 vein 160 metres below the 2024 resource estimate. The intercept also confirms a potential structural connection between the L10 and 710-711 vein systems, representing a meaningful resource expansion target (TSX-V: AUMB, OTCQB: AUMBF). News Release
Yukon Metals has acquired a 100% interest in the KLM Property in northern British Columbia near the Yukon border, adding 11,761 hectares to its porphyry copper-gold portfolio. The property sits within a prospective corridor of intrusive rocks and structural architecture the company believes is conducive to porphyry-style mineralization, extending the copper-gold belt it is targeting from northern BC into the Yukon. Yukon Metals now holds over 43,000 hectares across 17 projects (CSE: YMC, OTCQB: YMMCF). News Release
Provenance Gold has released new drill results from the Herman Area at the Eldorado West Project in eastern Oregon, with hole EC-06 returning 1.10 grams per tonne gold over 139.14 metres from surface — including 2.68 grams per tonne over 24.90 metres and 1.99 grams per tonne over 10.03 metres. The hole is a step-out that extends the Herman gold zone to the southwest, with mineralization hosted in altered and brecciated diorite and metasediments. The zone remains open in all directions (CSE: PAU). News Release
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That's it for today everyone. Have a great day. Stay safe.
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