Morning Briefing: Coeur Mining to Acquire New Gold
Good morning and welcome back to the Mining Stock Daily morning briefing.
It's Monday, November 3rd.
Gold seems to be back in a nice consolidation mode here just above its 50 day average. Its beginning the week up almost $30 from Friday’s close. Silver is up a half a percent this morning and copper’s cash position is basically flat after last week’s pullback. There is some economic data in store for the market this week, including Manufacturing data this morning and JOLTs job openings tomorrow. The US non-farm payrolls is scheduled to be delivered on Friday, but that remains contingent on the government shutdown.
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…..
Coeur Mining has entered a definitive agreement to acquire all the issued and outstanding shares of New Gold. New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold common share. This represents a 16% premium to the October 31, 2025 closing price of New Gold on the NYSE American. In the aggregate, this implies a total equity value of approximately $7 billion based on New Gold's common shares outstanding and a pro forma combined equity market capitalization of approximately $20 billion. Upon completion of the Transaction, existing Coeur stockholders and New Gold shareholders will own approximately 62% and 38% of the outstanding common stock of the combined company, respectively. New Gold has two producing assets, New Afton and the Rainy River Mine. The combination into Coeur is expected to generate approximately $3.0 billion of EBITDA and approximately $2.0 billion of free cash flow in 2026. (NYSE: CDE) (TSX: NGD) (NYSE American: NGD) News Release
Alaska Silver announced the discovery of a new high-grade mineralized zone through surface sampling on its Illinois Creek project in Alaska. The Silver Sage zone represents a significant exploration breakthrough, located 4.8km south of the Waterpump Creek resource. Samples returned 1,235 g/t silver ("Ag") with 65% lead ("Pb"); and 1,135 g/t Ag with 73% Pb. The Silver Sage zone displays classic CRD-style mineralization, with semi-massive galena, cerussite and copper oxides exposed in multiple surface trenches. Assays for 9 holes are pending from Silver Sage and are expected in the coming weeks. (TSXV: WAM) (OTCQX: WAMFF) News Release
Omai Gold Mines announced assay results from the next phase of drilling at its 100% owned Omai Gold Project in Guyana, South America. The results are from two near-surface exploration targets that were identified from trenching, geophysics and historical data. They included 20.33 g/t Au over 5.3m at the BBH Target and 2.72 g/t Au over 16.3m at the Camp Zone Target. In addition, the company noted deep hole 122, which tested the blue-sky potential at depth below the Wenot deposit, ended at a downhole depth 2,014m. It was successful in intersecting approximately 280m of the Wenot shear corridor at a depth of approximately 1,120m from surface or 600 m below the known Wenot gold deposit. Assays are pending. (TSXV: OMG) (OTCQB: OMGGF) News Release
Kenorland Minerals and Auranova Resources announced the completion of its 2025 fall drill program at the South Uchi Project in Ontario. The Phase 2 program comprised 13 diamond drill holes totaling 7,075 metres, following the maiden 2025 winter campaign that outlined widespread gold mineralisation along a five-kilometre-long structural corridor. Step-out drilling extended the deformation zone by two kilometres to the east, while additional holes to the northeast targeted a wide structural corridor concealed beneath deep overburden. Assay results are expected in Q1 2026. (TSXV: KLD) (OTCQX: KLDCF) News Release
Amarc Resources announced new assay results from this year’s drilling program within the AuRORA Deposit within the Joy District of British Columbia’s Toodoggone Region. 6 assay results were shared this morning and included 126 m of 0.97 g/t Au, 0.32% Cu and 4.8 g/t, 231 m of 0.83 g/t Au, 0.22% Cu and 2.3 g/t Ag and 200 m of 0.70 g/t Au, 0.24% Cu and 1.8 g/t Ag. Assay results are now being received from the total 35 holes drilled in 2025 across the JOY District. Results are planned to be released in regular batches going forward. (TSXV:AHR) (OTCQB:AXREF) News Release
Meridian Mining says the approval of the Cabaçal Gold-Copper-Silver project's Preliminary Licence has been formalized with the publication in the Official Gazette of the State of Mato Grosso. The Company is now focused on the ongoing preparation and submission of Cabaçal's Installation Licence in the first half of next year. The Company also announces that the application for a Preliminary Licence for the Santa Helena's Au-Cu-Ag & Zn project. (TSX: MNO) (FSE: N2E) (OTCQX: MRRDF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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