Morning Briefing: CME Halts Silver Trading Yesterday Prior to First Notice

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

It’s Thursday, February 26th. 

Gold has been trading in a hundred dollar range this week, pegged around the $5,200/oz level. Yesterday, it found itself with a 1% gain, while today, its giving 7/10ths back. What was most interesting yesterday was the silver market, and it was not necessarily the price action. Silver had a 4% move yesterday, but the intraday chart was volatile due to issues on the CME Globex metals market. At 12:15 pm CT yesterday, CME Globex Metals and Natural Gas futures and options markets were halted. Metals trading resumed about 90 minutes later. The CME blamed it on technical issued, but closely watching participants have seen this before recently. In fact, yesterday’s halt came just 36 hours before first notice day on the March Silver Contract. Back in  November, the CME halted silver trading for “cooling issues” which then saw the metal spike into triple digits. That halt also occurred on First Notice Day for the December Contract. To quote our friend Sir JJ from his note last night, “one time before first notice day is a glitch. Twice is well… fishy.”

We will get to the news out of the miners and explorers in a minute, but first a quick word about today’s sponsor.  

This episode of Mining Stock Daily is brought to you by…Revival Gold

Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-dash-gold.com

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

White Gold reported additional assay results from its 2025 diamond drilling program at the flagship Golden Saddle and Arc deposits, located on the White Gold Property in west-central Yukon. Hole WHTGS25D0216 successfully intersected high-grade gold mineralization, returning 3.23 g/t Au over 56.10m, expanding the width of the high-grade core by more than 50m to the west at a vertical depth of 350m, and further demonstrating the potential for additional growth of the high-grade core in multiple directions. The same hole also intersected the Footwall breccia zone beneath the current pit shell, confirming continuity of key mineralization, lithology, and structural features down plunge and along strike. Furthermore, multiple lenses of gold mineralization were intersected in the shallow hanging wall zone, again further supporting recent 3D modeling refinements that capture this mineralization in the hanging wall more consistently, and confirming prospectivity of assaying unsampled historic drill intervals throughout this zone. (TSX.V:WGO) (OTCQX:WHGOF) News Release

Spanish Mountain Gold reported additional assay results from five exploration drill holes within the Orca Fault target trend that were completed as part of its 2025 Fall Diamond Drill program on the Spanish Mountain Gold Project in the Cariboo Gold Corridor, British Columbia, Canada. Results included 205.87 m of 0.58 g/t gold from 10.13 m in hole 1328 and 142.00 m of 0.77 g/t gold from 9.00 m in hole 1329. The company says current exploration drilling assay results continues to intersect significant higher-grade gold mineralization over 530 m in strike length in the Orca Fault target area trend and the continuity can now be traced across multiple parallel, adjacent drill sections over 200 m in width. (TSX-V: SPA) (OTCQB: SPAUF) News Release

Great Pacific Gold gave an update on its drilling at the Sinivit and Kavasuki targets within the Wild Dog Project in Papua New Guinea. The 18-hole program at Sinivit to-date has delineated multiple high-grade shoots and significantly improved understanding of structural controls within the system. Recent drilling has intersected several fault zones, and modelling will focus on understanding their impact on shoot continuity and displacement. This work will refine depth potential and assist in defining more precise step-out targets along strike and at depth. The company also provided core images of the first hole at Kavasuki, which intersected a broad hydrothermal quartz breccia zone from approximately 41.5 metres to 81.0 metres downhole. Sulphide mineralization occurs as clast-rimming sulphides and fracture infill, including pyrite, chalcopyrite and bornite. The Sinivit-Kavasuki corridor represents approximately 3 kilometres of the 15-kilometre Wild Dog structural system. (TSXV: GPAC) (OTCQX: GPGCF) News Release

Talisker Resources has agreed to a bought deal private placement with Red Cloud Securities for the resale of 20M units of the company at a price of $2 per Uni for gross proceeds of $40M. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant at a strike price of $2.70 with a 2 year expiration. The Company intends to use the net proceeds from the Offering for the continued advancement of the Company's flagship Bralorne Gold Project in British Columbia, as well as for general corporate purposes and working capital. (TSX:TSK) (OTCQX:TSKFF) News Release

Equinox Gold says the Toronto Stock Exchange has accepted the company’s Notice of Intention to make a normal course issuer bid to repurchase, for cancellation, up to an aggregate of 39,414,095 common shares of Equinox Gold, representing approximately 5% of the Company’s issued and outstanding Common Shares. In connection with the NCIB, the Company expects to enter into an automatic share purchase plan (“ASPP”) in relation to purchases made under the NCIB. The ASPP is intended to facilitate repurchases of Common Shares at times under the NCIB when the Company would ordinarily not be permitted to make purchases due to regulatory restriction or customary self-imposed blackout periods. (TSX: EQX, NYSE American: EQX) News Release

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

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