Morning Briefing: Discovery Silver Reports Q2 Financials and Production Numbers
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Tuesday, August 12th
Gold futures took it on the chin yesterday as it battled a rising dollar. The yellow metal lost approximately two and a half percent yesterday, or $86 in total on its front month contract to settle at $3,404 an ounce. So for now, gold remains in this consolidation zone. The good news yesterday came from the gold miners. Both the GDX and the GDXJ ETFs opened lower on the gold price. But both grinded their way higher throughout the day. Inflation data came in this morning with the CPI. Year over year July consumer prices were a bit lower than estimates of 2.8%. That came in at 2.7%. Core CPI, however, came in a tenth of a percent hotter than estimated with 3.1% year over year.
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…Vizsla Silver.
Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/
And here’s what you need to know this morning…..
Discovery Silver shared their financial and operating results for the second quarter and the first six months of the year. Q2 2025 represents the first quarter Discovery has reported the results of gold production and sales following the Company’s acquisition of the Porcupine Complex in and near Timmins, Ontario. Initial gold production from mid-April to the end of June was 50,552 oz, which included 16,112 oz from Hoyle Pond, 27,286 oz from Borden and 7,154 oz from Pamour. All-in sustaining costs averaged $2,123/oz sold. Free cash flow reached $27.3M. Cash on hand at the end of the quarter totaled $252.5M; with working capital of $225.9 million. (TSX: DSV, OTCQX: DSVSF) News Release
Lithium Argentina and Ganfeng Lithium Group are establishing a new joint venture consolidating Ganfeng’s solely owned Pozuelos-Pastos Grandes project with Lithium Argentina’s Pastos Grandes project and the Sal de la Puna project. The JV is targeting up to 150,000 tonnes per annum of lithium carbonate equivalent production capacity in three phases, positioning New JV among largest operations globally. Both parties are jointly pursuing financing options to fund development costs, including collaboration with strategic partners and potential customers for offtake and minority equity interests and project financing. In the meantime, Ganfeng is going to provide Lithium Argentina with a 6-year, $130 million debt facility at SOFR plus 2.5%, providing capacity to refinance corporate debt and further strengthen the Company’s balance sheet. (TSX: LAR) (NYSE: LAR) News Release
Seabridge Gold announced the results from the first three holes drilled this summer at the Snip North target, which the company says confirms a copper-gold porphyry deposit of unusual size and consistency. These holes are part of a 12,000 meter drill program designed to expand zones of intense potassic alteration and associated mineralization discovered in 2024. Each of the first three holes succeeded in extending the mineralized footprint of Snip North, intersecting wide intervals of porphyry-style mineralization. Results included 729m of .48 g/t Au and .16% Cu and 340m of .51g/t Au and .11% Cu. The company aims to announce a resource estimate for Snip North early next year. (TSX: SEA) (NYSE: SA) News Release
Fury Gold Mines shared results from the inaugural drill campaign at the Sakami gold project located in the Eeyou Istchee Territory in the James Bay region of Northern Quebec. Drill hole 25SK-001 is the first of six holes drilled to date, and was designed to test the down plunge extension of gold mineralization intercepted in historical drilling and has intercepted five distinct zones of gold mineralization across a 140-metre (m) drilled length; 4.7 m of 2.72 g/t gold; 0.5 m of 10.2 g/t gold; 1.5 m of 5.17 g/t gold and; 11.8 m of 1.28 g/t gold and; 41.5 m of 1.23 g/t gold. The Company has completed a total of 3,160 m of drilling in six drill holes to date, including one at the previously undrilled Juliette target. (TSX and NYSE American: FURY) News Release
The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network.
That’s it for today everyone. Have a great day. Stay safe.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.