Morning Briefing: Elemental Altus Acquires New Cornerstone Royalty Package

Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.

It's Tuesday September 2nd

The market in gold ended the day, week and month of August in strong fashion on Friday, as it edged closer to those recently met all-time highs. Yesterday, as the US and Canadian markets were on holiday, the market continued its upward trajectory. Today, we find gold futures making new highs at $3,560/oz on the front month. Spot attempted to breach and stay above $3,500/oz, but is finding stiff resistance here. Gold miners per the GDX and GDXJ continued their move higher. The GDX surged over 20% in the past month. Silver futures breached $40/oz on Friday and continue to move higher to open the week, currently trading at $41.56 an ounce. We have Fed Speak sprinkled in throughout this short week, along with other economic indicators, including initial jobless claims on Thursday and the US employment report on Friday. 

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….. 

Elemental Altus Royalties announced the creation of a cornerstone gold royalty at Laverton in Western Australia. The company has signed binding agreements to acquire an existing uncapped 2% Gross Revenue Royalty over Genesis Minerals' Focus Laverton Project in Western Australia, alongside an existing 2% GRR on Brightstar Resources' producing Jasper Hills Project. In addition, Elemental is also acquiring an existing uncapped 2.0-2.5% Net Smelter Return Royalty on Pasofino Gold's feasibility-stage Dugbe Project in Liberia. The Focus Laverton Royalty deal comes at a total cost of US$52M. The Dugbe Royalty in Liberia has an acquisition cost of US$16.5M. As at September 1, 2025, Elemental Altus has over US$32 million in cash and an undrawn credit facility of up to US$50 million with National Bank of Canada, Canadian Imperial Bank of Commerce, and Royal Bank of Canada. (TSXV: ELE) (OTCQX: ELEMF) News Release

Great Pacific Gold announced drill results from its Phase 1 program on the Wild Dog Project in Papua New Guinea. HOle 8 returned 8.4m of 49.9 g/t AuEq starting at 154m. The hole also had a subinterval in there if 3.8m of 105 g/t AuEq. Since commencing in May 2025, GPAC has completed nine drill holes at Sinivit, with the tenth hole underway. WDG-08 and WDG-09 have been completed, and assays are pending for WDG-09. The Phase 1 program commenced in May 2025 and is designed to test the Sinivit target, a 1.5 km strike length within the 15 km Wild Dog epithermal vein structural corridor. The expanded program now totals 28 diamond drill holes and is expected to continue into early 2026. (TSXV: GPAC) (OTCQX: FSXLF) News Release

TDG Gold reported preliminary assays from the first drillhole completed on the AuWEST target on the Greater Shasta-Newberry project in the Toodoggone District of northern British Columbia. Drillhole TDG25-001 was drilled near-vertical and within 20 metres of the boundary with Freeport McMoRan-Amarc Resources. That hole returned 100m of 2.24 g/t Au and .38% copper from a depth of 308m. Four additional holes have been completed and are awaiting assays. The company says all diamond drillholes so far have intersected similar mineralization consisting of disseminated and vein hosted sulphides extending over significant intervals and similar in appearance to the mineralization encountered in TDG25-001.  (TSXV:TDG) (OTCQX:TDGGF) News Release

Heliostar Metals reported their financial results for Q2. The sale of 8,556 gold equivalent ounces with a consolidated all-in sustaining costs of just over $1,500 an ounces provided earning of $14.3M. This represents an operating margin of 51%. On June 30, 2025, the Company had cash of $29.7 million and working capital of $51.7 million. (TSXV: HSTR) (OTCQX: HSTXF) News Release

Meridian Mining has completed its Definitive Feasibility Study drill program with the completion of 591 holes completed for 66 and a half thousand meters of drilling. Various samples have been sent to SGS Lakefield in Canada for the final phase of metallurgical testwork which includes variability testwork from the initial phase of planned production, with floatation tests having commenced, and a mini pilot plant test being scheduled. The Company is liaising with its resource and mining consultancy, GE21, in preparation for DFS modelling and mine planning. The company also announced the hiring of an Interim CFO and a new Chief Development Officer. (TSX: MNO) (OTCQX: MRRDF) News Release

District Metals provided a comment on a media briefing held by the Swedish Minister for Environment and Climate last week, which stated the Swedish Government intends to submit a Legislative Proposal to Parliament to remove the current ban on uranium mining in Q4 of 2025. If approved, the new legislation permitting uranium mining and exploration will come into effect on January 1, 2026. District Metals says it is obvious the Swedish government’s ambition is to create a regulatory framework where uranium is treated in the same fashion as other metals and minerals and with the same permitting requirements. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) News Release

G Mining Ventures says it has received the Enviornmental Permit from Guyana’s Environmental Protection Agency for the Oko West Project. The five-year permit, valid through July 2030, authorizes the construction and operation of Oko West, which is expected to create an average of 1,270 direct permanent jobs during its lifetime. The Corporation anticipates making a formal construction decision in H2 2025, at which time more details regarding project financing will be communicated. In the interim, detailed engineering and exploration activities continue at Oko West. (TSX: GMIN) (OTCQX: GMINF) News Release

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

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