Morning Briefing: Ceasefire Announcement Sends Stocks and Metals Surging Higher

Good morning and welcome back to the Mining Stock Daily morning briefing. This is Trevor Hall.

It's Wednesday, April 8.

Markets are surging this morning after last night's ceasefire announcement. Gold is up roughly 2% to around $4,836 an ounce. Silver is the big mover — up over 6% to $77.64 an ounce, as capital rotates into industrial metals alongside the easing of energy and supply chain concerns. Copper is rallying sharply as well. U.S. equity futures are pointing strongly higher.

The headline is the ceasefire. Just under two hours before President Trump's Tuesday night deadline — during which he warned that, without a deal, a whole civilization would die tonight — the United States and Iran agreed to a two-week pause in hostilities. The deal was brokered with critical assistance from Pakistan's Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, and diplomatic talks are expected to continue in Islamabad this Friday. Markets have clearly embraced the news this morning, but the picture on the ground remains complicated — the Strait of Hormuz is not back to anything resembling normal traffic flow, and there are fresh reports of continued strikes inside Iran today. The ceasefire may be agreed on paper, but whether it holds is a very different question, and that uncertainty is keeping gold supported even as the initial shock of relief drives silver and equities sharply higher.

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…Equinox Gold.

Equinox Gold is a growth-focused gold producer operating mines across the Americas. With cornerstone assets like the Greenstone Mine in Ontario and the Valentine Gold Project in Newfoundland & Labrador, Equinox is advancing a new generation of large-scale, long-life gold operations. Learn more about their portfolio and development pipeline at equinoxgold.com.

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

i-80 Gold has reported high-grade assay results from the Archimedes Underground Project in Nevada, with drilling returning 24.6 grams per tonne gold over 23.6 metres — a thick, high-grade intersection that reinforces the grade continuity within what the company's PEA identified as a 436,000-ounce indicated resource at 7.6 g/t. Underground development at Archimedes is advancing on schedule following the receipt of construction permits in late 2025, with first gold production targeted for the second half of 2026. (TSX: IAU). News Release

OR Royalties has reported preliminary Q1 2026 GEO deliveries and a capital return milestone, with the company recording 22,740 attributable gold equivalent ounces in the quarter, generating $102.8 million in preliminary revenue — a quarterly record — at a cash margin of 96.8%. The company also deployed C$17.7 million in share repurchases under its Normal Course Issuer Bid during Q1, returning capital to shareholders while ending the quarter with $94.9 million in cash and a fully undrawn $650 million revolving credit facility. (TSX/NYSE: OR). News Release

Newcore Gold has reported new diamond drill results from its Sewum Deposit on the Enchi Gold Project in Ghana, intersecting 1.59 grams per tonne gold over 15.5 metres, including 3.22 g/t over 6.4 metres outside of the conceptual open-pit which hosts the resource. Drilling also targeted shallow mineralization within a vertical depth of 140 metres at the Ridge Zone at Sewum, the northernmost area of the deposit, and returned .69 g/t Au over 41m. Enchi hosts a current resource of 1.5 million indicated ounces and 626,000 inferred ounces, and the ongoing 45,000-metre drill program has been consistently expanding both the resource footprint and grade profile. (TSX-V: NCAU). News Release

Hot Chili has confirmed a major high-grade extension at the La Verde porphyry discovery within its Costa Fuego Copper-Gold Project in coastal Chile, with the standout drill result returning 62 metres grading 1.03% copper equivalent from 18 metres depth — all within a broader envelope of 725 metres at 0.42% CuEq from surface. The extension pushes the high-grade core approximately 200 metres further down-dip, and the fact that it starts just 18 metres below surface puts open-pit economics firmly in scope. Two drill rigs are active at La Verde with additional assay results pending for April. (ASX/TSX-V: HCH). News Release

Tocvan Ventures has announced the addition of a second reverse circulation drill rig at its Gran Pilar Gold-Silver Project in Sonora, Mexico, accelerating a fully funded 20,000-metre program that is now testing multiple high-priority targets in parallel. The second rig joins the South Block program, where the company recently discovered new gold-silver mineralization 1,600 metres from the Main Zone in the first step-out to the northeast, and will also test the El Mezquite target — a 350-metre soil anomaly with rock samples returning up to 2.7 grams per tonne gold. With two rigs turning and a newly confirmed discovery zone to chase, the pace of news flow at Gran Pilar should pick up considerably (CSE: TOC). News Release

Kingfisher Metals has appointed Sharon G.K. Singh to its Board of Directors. Ms. Singh is a lawyer with deep expertise in environmental, Indigenous relations, regulatory affairs, and governance in the mining and natural resources sector — all areas of critical importance as Kingfisher advances its Hank copper-gold discovery toward the next phase of exploration at its 933-square-kilometre HWY 37 Project in British Columbia's Golden Triangle. (TSX-V: KFR). News Release

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

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