Morning Briefing: Energy Fuels Produces 1st Kilogram of Dysprosium Oxide from the White Mesa Mill
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Thursday August 21st.
Summer Duldrum Chop is about the best way to describe the price action in gold this week. The yellow metal rebound yesterday to take back and add to its price after Tuesday’s sell off. It was a welcome site, breaking a 4-day losing streak. The gold miners rebound and continued to consolidate after its big moves higher earlier in the month. Silver is doing the same. Little activity and hovering between mid $37 dollars and the $38 mark. It is obvious the precious metals complex is awaiting and hoping for clarification from Jerome Powell and company tomorrow from their Jackson Hole retreat. The latest round of FOMC Minutes shows members continues to lean more towards concern of inflationary pressures than weaker employment.
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…Equinox Gold.
Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com
And here’s what you need to know this morning…..
Energy Fuels has successfully completed production of its first kilogram of dysprosium (Dy) oxide at pilot scale at the Company's White Mesa Mill in Utah. The Company achieved a purity of 99.9% Dy, which is well in excess of the 99.5% commercial specification. The Mill expects to continue producing dysprosium oxide at a rate of two kilograms per week. Energy Fuels believes it is the first U.S. company to both produce high-purity Dy oxide and publicly disclose actual production volumes and purities. These oxides are being produced from monazite mined in Florida and Georgia, USA and demonstrate the expected viability of Energy Fuels' completely non-Chinese rare earth oxide supply chain. Pilot-scale production is expected to continue until approximately 15 kilograms of Dy oxide are produced. At that point, Energy Fuels intends to produce high purity terbium (Tb) oxide and is targeting Q4-2025 for the first samples of Tb oxide to be available for end-user validation. Due to the ongoing success of this "heavy" REE pilot project, the Company intends to construct and commission commercial-scale Dy, Tb, and potentially other "heavy" REE separation capacity at its White Mesa Mill, which could be in production as soon as Q4 2026. (NYSE: UUUU) (TSX: EFR) News Release
White Gold shared results of its updated mineral resource estimate for the White Gold Project in Yukon. The updated mineral resource was initiated following recent new modelling for the Golden Saddle and Arc deposits, including optimization and reinterpretation of the gold bearing zones. The updated MRE shows a significant increase in total gold ounces, including a 44% increase in indicated resources for a new total of 1,732,300 ounces of gold and a 13.4% increase in inferred resources for a new total of 1,265,900 ounces of gold. The ongoing 2025 exploration program has been designed to deliver further increases to the size of the resource and to advance technical understanding in support of a Preliminary Economic Assessment. (TSX.V: WGO, OTCQX: WHGOF) News Release
NexMetals reported results from an additional drill hole successfully intersecting high-grade mineralization at the Selebi North Underground deposit. Hole 189 returned4.9m of 4.39% CuEq in the South Limb and then 19.4m of 3.93% CuEq in the N2Limb. This confirms the mineralization continues at greater depths, strengthening confidence in the size and continuity of the deposit. Drilling is ongoing to evaluate the strike extent of this new mineralization, with assay results pending for SNUG-25-191, which intersected mineralization in South Limb. SNUG-25-192 currently in progress. (TSXV: NEXM) (NASDAQ: NEXM) News Release
Dryden Gold reported results from its 2025 drill program at the Elora Gold System. New results this morning are from the Jubilee Zone and the Jubilee Hanging Wall. Results included 8.68 g/t Au over 9.4m and 3.41 g/t Au over 5.25m. The Company will be drill testing 300 meters of strike length between Pearl and Laurentian which has little to no historical drilling. In addition, the Company plans to begin drill testing at the two kilometer step out target Mud Lake which returned surface samples grading up to 24.20 g/t gold. (TSXV: DRY) (OTCQB: DRYGF) News Release
Marimaca Copper has executed a binding asset purchase option agreement to acquire a used sulfuric acid plant in Chile from CEMIN Holding Minero. Sulfuric acid is one of the key input costs for the Marimaca Oxide Deposit, and the ability to produce a significant amount of its own supply will reduce exposure to a volatile acid market. The plant has a capacity of up to 150ktpa of concentrated sulfuric acid, representing approximately 30% to 40% of total acid consumption at the Marimaca Oxide Deposit depending on phase of development. Based on market research and quotations received by Marimaca – the estimated equipment cost of a new sulfuric acid plant of similar capacity is approximately US$35-40m, with total installation cost of US$50-US$60m. The option to acquire this plant comes at a price tag of $2.5M. (TSX: MARI) (ASX: MC2) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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