Morning Briefing: Contago ORE and Dolly Varden Silver Merge
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m your host, Trevor Hall
It's Monday, December 8th.
Gold and silver are continuing the consolidation to begin the week. Gold is relatively flat this morning at $4,239 / oz while silver is down about half a percent to $58.64 an ounce. Its an active week of market data, which included the JOLTs report for job openings tomorrow and PPI on Thursday. But on Wednesday, all eyes will be on the FOMC meeting press conference and their interest rate decision. It is projected the committee will lower the rate by a quarter point. Markets are pricing in an 88% chance of a cut at the meeting. Recent trade data out of China showed the country’s exports rising 5.9% year-on-year, reversing from a 1.1% contraction a month prior, and beating a 3.8% forecast in a Reuters poll. The forecasts were driven by a surge in shipments to non-US markets as manufacturers deepen trade ties with the rest of the world.
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…..
Contago ORE and Dolly Varden Silver have entered into an arrangement agreement to combine the two companies on a merger-of-equals. Upon completion of the Transaction, existing Contango and Dolly Varden shareholders will each own approximately 50% of the outstanding shares of MergeCo, on a fully diluted in-the-money basis. MergeCo is expected to be renamed Contango Silver & Gold Inc. and will be led by Rick Van Nieuwenhuyse as CEO, Shawn Khunkhun as President and Mike Clark as Executive Vice President and CFO. The new company will be anchored by the Lucky Shot and Johnson Tract projects in Alaska, and the Kitsault Valley silver-gold project in British Columbia. (NYSE American: CTGO)(TSXV: DV) (NYSE American: DVS)
Omai Gold Mines announced assay results from the Omai Gold Project in Guayana. Significant mineralization was intersected in central Wenot with 13.54 g/t Au over 13.3m in Hole 145W. At East Wenot, drilling returned 11.07 g/t Au over 14.7m in Hole 142. A total of 79 holes (35,300m) have been completed on the Omai project in 2025. Of these, 30 holes (13,250m) completed or underway on Wenot, are not included in the recent August 2025 updated Mineral Resource Estimate. These will contribute to an updated MRE planned for early 2026, in advance of the updated Preliminary Economic Assessment expected in H1 2026. (TSXV: OMG) (OTCQB: OMGGF) News Release
G Mining Ventures has received their mining license for the Oko West Gold Project in Guyana. The License was granted effective December 5, 2025, and is valid for twenty years, authorizing development, operation, and commercial gold production at Oko West. This approval marks the final major permitting milestone for the Project and completes the main regulatory requirements necessary for full construction and long-term operations. Now that the License has been secured, the Project is poised to begin pre-production open-pit mining in the first quarter of 2026, with assembly of the initial mining equipment fleet already underway. (TSX:GMIN, OTCQX:GMINF) News Release
K2 Gold announced results of comprehensive geological studies that further reinforce the Company's Si2 Project as a compelling analogue to other significant low-sulphidation epithermal gold deposits, including AngloGold Ashanti's Expanded Silicon Project. Both K2 Gold's Si2 Project and AngloGold Ashanti's Silicon Project were originally identified by the same project generator using its proprietary geological targeting methodology, securing first-mover access to this previously overlooked epithermal target style. Results indicate that 2023 drilling terminated above the modelled "boiling zone", which typically begins at fluid temperatures of >220°C. Vein formation temperatures can aid in exploration targeting by revealing the level of the epithermal system encountered by drilling. Ongoing exploration work at Si2 includes a property scale geological mapping campaign and a planned expanded IP survey, with results to support future drill targeting. (TSXV: KTO) (OTCQB: KTGDF) News Release
Great Pacific Gold has received final court approval for the spin out of Walhalla Gold Corp to GPAC shareholders. GPAC shareholders who own common shares as at close of business on December 12, 2025 will be entitled to one Walhalla common share for every GPAC common share so held. The new Walhalla common shares will be issued to the GPAC shareholders on Monday December 15, 2025. The Walhalla-Woods Point Goldfield is one of Victoria, Australia's significant goldfields with an estimated total historic gold production from 54 mines of 2.2Mozs (72.2 tonnes) at a gold grade of 25.3g/t, which is approximately 10% of the state's historic gold production. It is estimated that there are over 420 mines/workings for gold within the goldfield, which lies in the Palaeozoic-aged Melbourne geological structural zone, some 150km east of Melbourne. (TSXV: GPAC) (OTCQX: GPGCF) News Release
We heard from David Garofalo in last week’s long-form. This morning, his company, Gold Royalty announced the acquisition of the existing royalty on the Pedra Branca mine from BlackRock. The deal comes with a price tag of $70 Million, which will be funded through a bought deal financing, also reported this morning. The Royalty has full coverage over the Pedra Branca East and Pedra Branca West deposits. The Royalty's terms include a 25% net smelter return royalty on gold and 2% NSR on copper produced from Pedra Branca. Gold Royalty believes the enhanced copper exposure is timely, given the currently strong long-term fundamentals for the metal based on demand projections to support the coming global transition to renewable energy.
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That’s it for today everyone. Have a great day. Stay safe.
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