Morning Briefing: Energy Fuels Publishes Feasibility Study for Vara Mada Rare Earth Project
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m your host, Trevor Hall
It's Thursday, January 8th.
Gold and Silver are continuing their pullback today with gold down a half percent and silver down three and three quarters in the morning session. Platinum and palladium are also lower in today’s early morning trade. Copper is relatively flat this morning after yesterday’s selloff. Spot copper is currently trading at $5.87 a pound. Nickel supply out of Indonesia is of some concern and has caused the nickel price to surge to a two-year high. There is thought that Indonesia will tighten supply this year. The government signalled plans to cuts its nickel mining quota and tighten enforcement through fines on miners violating forestry permits. This could disrupt output of the metal.
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… Revival Gold.
Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-dash-gold.com
And here’s what you need to know this morning…..
Energy Fuels released results of its updated feasibility study for the Vara Mada project in Madagascar. Vara Mada is formerly known as the Toliara Project. Vara Mada now hosts economics of $1.8B of NPV and a 24.9% IRR. The annual production of the project is expected to come in at 959,000 tonnes of ilmenite, 66kt of zircon, 8kt of rutile and 24,000kt of monazite. At full capacity, monazite produced from Vara Mada and Energy Fuels' other HMS projects has the potential to supply up to 30% of U.S. demand for light REE oxides and 85% of U.S. demand for heavy REE oxides like dysprosium and terbium. The Company plans to import monazite concentrates from Vara Mada into the U.S. for processing into high-purity separated light and heavy REE oxides at Energy Fuels' 100%-owned White Mesa Mill in Utah for commercial and government customers in the U.S. and allied nations. (NYSE: UUUU) (TSX: EFR) News Release
Banyan Gold has hit new high-grade domains and visible gold in the Powerline Deposit within the AurMac Project in Yukon. Drilling to the southwest of the currently defined resource did confirm grade continuity within and between Powerline and Airstrip deposits. Highlights included 1.9 g/t Au over 31.2m within 1.1 g/t over 66.6m. There was also 1.37 g/t Au over 30.8m and 1.26 g/t Au over 22.8m. (TSXV:BYN) (OTCQB:BYAGF) News Release
Surge Copper shared results from its drilling and field work at the Berg Project in British Columbia. The program was designed to advance Berg toward completion of a Pre-Feasibility Study (“PFS”) planned for H1-2026. Four resource conversion holes, BRG25-257 to 260, totaling 1,926 metres of drilling, were drilled along the western and southwestern margins of the Berg deposit with the objective of upgrading Inferred resources to Measured and Indicated categories for inclusion in the upcoming PFS. Results included 387m of .18% CuEq and 235m of .31% CuEq. (TSXV: SURG) (OTCQB: SRGXF) News Release
Orosur Mining published an update on exploration work at the Anzá project in Colombia. The company is moving towards an initial resource for the Pepas deposit and have accompanied that work with new drill results showing 47.6m of 3.43 g/t Au from surface, 104.45m of 5.96 g/t au and 71.35m of 6.46 g/t Au. This infill drill program was completed late in December 2025. The Company has begun the process of assessing the economic exploitation options for Pepas in the context of the Colombian permitting regime. Discussions are currently underway with local technical consultants to map out the permitting framework, necessary environmental and social studies, and development of the required technical work plan, that could commence once an MRE is finalized. (TSXV:OMI) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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