Morning Briefing: CEO Changes at both Newmont and Barrick
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Monday September 29th
While most of the precious metal investors were watching gold futures move and close above $3,800 on Friday while silver made another multi-year high with a gain of 3.4%, the sleeper moves happened in the PGEs. Platinum gained more than 12% on the week last week to close at $1,577 an ounce. Palladium moved almost 11% on the week to $1,267. Valterra warned that primary PGM output could shrink by 15-20% by decade’s end, putting a massive crunch on supply which would outpace current deficit analysis. But the feeding frenzy for gold and silver are continuing this morning, with gold making a new all-time high at $3,820/oz on the spot price. Silver is up another 1.5% to $46.74/oz.
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…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
And here’s what you need to know this morning…..
There are new executive changes in both Barrick and Newmont. This morning, Barrick announced Mark Hill has been appointed Group COO and Interim President and CEO effective immediately. Mark Bristow is stepping down as President and CEO after nearly seven years having joined Barrick following Barrick’s merger with Randgold in 2019. Mark Hill is is currently responsible for Barrick’s Latam and Asia Pacific regions. News Release
Newmont announced the retirement of Tom Palmer this morning, who’s served as CEO since 2019. Natascha Viljoen, President and Chief Operating Officer (COO), will succeed Palmer. News Release
Sterling Metals announced the discovery of a new copper zone at its Soo Copper Project in Ontario. Drill hole MEPS-25-02, part of the Company's Phase 2 exploration program, discovered a high-grade copper and gold zone within a continuous, bulk-tonnage copper-molybdenum-silver-gold porphyry system. That hole returned 262.5m of 1.05% CuEq starting from 47.5m downhole. The newly discovered high-grade Cu-Au mineralization, characterized by bornite and associated porphyry dykes, indicates a robust, large-scale Cu-Au-Ag-Mo system with the potential to transform the Project. Phase 2 drilling has been expanded from a minimum of 3,000m to at least 6,000m. (TSXV:SAG) (OTCQB:SAGGF) News Release
Golden Cross Resources have published new drill results from the Reedy Creek prospect in Australia. Today’s results intercepted .5m of 24.4 g/t Au within 10.8m of 2 g/t Au. Resampling of historical and previously unsampled drill core by Golden Cross has returned compelling results have also returned 23m of 3 g/t Au and 9m of 3.64 g/t. Golden Cross has now completed 10 holes for over 2,300 metres of diamond drilling at the Reedy Creek Project. Drilling has initially focused on confirming the presence of multiple vein sets, variable silicification and zones of sulphide mineralization consistent with orogenic-style systems. (TSXV: AUX) (OTCQB: ZCRMF) News Release
Q2 Metals reported assay results from the ongoing drill program at the Cisco Lithium Project in the Eeyou Istchee James Bay region of Quebec, Canada. Three holes were reported and included 272.5 m at 1.61% Li2O in hole 36, and 66.5 m at 1.55% Li2O and 58.9 m at 1.09% Li2O in hole 17. Hole 12 returned 12 separate intervals of mineralization including 108.5 m at 1.62% Li2O and 107.4 m at 1.87% Li2O. Three (3) drill rigs continue to operate on the Cisco Project, with a fourth scheduled to start at the end of October 2025. (TSX.V: QTWO | OTCQB: QUEXF) News Release
Newcore Gold says it has received total proceeds of approximately $3.8 million from the exercise of 9,558,578 common share purchase warrants of the Company which expired on September 26, 2025. The Warrants had an exercise price of $0.40 and were originally issued on September 26, 2024 following the completion of private placement financings. The Company is well funded with a cash balance of approximately $10.1 million to continue to advance a 35,000-metre drill program, along with development work required to advance the Enchi Gold Project to a Pre-Feasibility Study in H1 2026. (TSX-V: NCAU, OTCQX: NCAUF) News Release
Rio2 has acquired 15% of the Royal Road Minerals equity by purchasing more than 39-million ordinary shares of Royal Road. Rio2 is acquiring the Shares for investment purposes. Rio2 may, from time to time, subject to the Investor Rights Agreement, acquire additional Shares or other securities of Royal Road or dispose of some or all of the Shares or other securities of Royal Road that it owns at such time. News Release
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That’s it for today everyone. Have a great day. Stay safe.
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