Morning Briefing: GDXJ Highlights Major Rebalancing in Holdings

Good morning and welcome back to the Mining Stock Daily morning briefing.

It's Tuesday, September 15th.

Gold is trading slightly lower this morning, off 0.33% to $4,284 an ounce. Silver is essentially flat, up a fraction to $63.29. Copper is holding steady as well, adding 0.11% to $6.34. On the energy side, Brent crude continues to push higher, up 0.19% to $105.88 and sitting comfortably above $105.

The story in the macro this morning is what is happening in the bond market. The 10-year Treasury yield traded above 5% earlier this morning and sits at that level now, and a close above 5% would mark the first time since July 2007. Markets are bracing for a Federal Reserve rate decision tomorrow, with continued anticipation of another hike keeping consistent upward pressure on yields.

In a noteworthy development for junior mining investors, the GDXJ ETF added 44 new companies to its holdings last week as part of a significant rebalancing that broadens its reach into smaller-cap names. Several MSD-covered companies made the list, including Elemental Royalty, Collective Mining, Meridian Mining, Mining Americas, and Heliostar Metals.

We will get to the news from the miners and explorers in a moment, but first a mention of today's sponsor:

Today's episode of Mining Stock Daily is brought to you by…Vizsla Silver.

Vizsla Silver is a silver-focused developer advancing the Panuco silver-gold project in Sinaloa, Mexico, a historically productive district the company has assembled into one of the highest-grade undeveloped silver assets in the world. Panuco sits in a major silver belt with outstanding infrastructure, and Vizsla is moving the project through advanced engineering studies toward a development decision. Vizsla Silver trades on the TSX Venture Exchange and the NYSE American both under the symbol VZLA.

Here’s what you need to know today. 

Collective Mining has intersected broad zones of high-grade gold equivalent mineralization within areas previously modeled as waste inside the Apollo Mineral Resource open pit shell at its Guayabales Project in Caldas, Colombia, highlighted by 135.15 metres at 2.12 grams per tonne gold equivalent from 21.30 metres depth in the Shallow Halo Zone. The results are entirely additive to the maiden Apollo Mineral Resource released last week, meaning that material the resource model excluded as waste is now returning economic-grade intercepts that have the potential to improve the deposit economics. Collective Mining trades on the TSX and Nasdaq both under the symbol CNL. NEWS RELEASE

C3 Metals has released first drill results from the Khaleesi porphyry copper-gold target in Ayacucho, Peru, returning 119.5 metres at 0.30% copper equivalent from 48 metres depth and 164.6 metres at 0.35% copper equivalent from 280 metres in the same hole, with mineralization confirmed to 500 metres depth, open in multiple directions, and grade comparable to the nearby Hudbay Constancia mine. A 3DIP geophysical survey commences before month-end to define the next drill targets. C3 Metals trades on the TSX Venture Exchange as CCCM and on the OTCQB as CUAUF. NEWS RELEASE

Thor Explorations has reported maiden drill results from the Marahui Gold Project in northeastern Côte d'Ivoire, with highlights including 6 metres at 6.20 grams per tonne gold from 74 metres and 9 metres at 5.40 grams per tonne from 40 metres within a four-kilometre shear corridor, with only about 30% of the geological trend tested and results pending from the bulk of a 25,000-metre program. Thor Explorations trades on the TSX Venture Exchange and London's AIM market both under the symbol THX. NEWS RELEASE

Adyton Resources has reported 167 metres at 1.14 grams per tonne gold equivalent from surface at the Kabang gold-copper deposit on Feni Island in Papua New Guinea, including 57 metres at 2.03 grams per tonne gold equivalent, with results extending identified strike to two kilometres and a Mining License expected in October at the separate Wapolu deposit targeting commercial production by Q4 2027. Adyton Resources trades on the TSX Venture Exchange as ADY and on the OTCQB as ADYRF. NEWS RELEASE

Gladiator Metals has released its standout result from the Cub East target at the Whitehorse Copper Project in Yukon, with hole BCG-045 returning 21.2 metres at 3.07% copper, 1.19 grams per tonne gold, and 24.65 grams per tonne silver from 183 metres, confirming high-grade continuity over 350 metres of strike within a program now expanded to 50,000 metres and five rigs, with step-out drilling 600 metres to the southeast already hitting skarn and assays pending. Gladiator Metals trades on the TSX Venture Exchange as GLAD and on the OTCQX as GDTRF. NEWS RELEASE

NGEx Minerals has released preliminary metallurgical results from the Lunahuasi copper-gold deposit in San Juan Province, Argentina, showing copper recoveries of 92 to 94.2% and gold recoveries of up to 87.1% across composites grading up to 4.16% copper and 5.38 grams per tonne gold, with a secondary arsenic removal step achieving 95% reduction and producing final concentrate grades of 23.4 to 39.4% copper from a simple flowsheet without cleaning stages. NGEx Minerals is a Lundin Group company and trades on the TSX as NGEX and on the OTCQX as NGXXF. NEWS RELEASE

Yukon Metals has completed an induced polarization survey at its Birch Project in western Yukon, identifying a new chargeability anomaly approximately two kilometres south of the known skarn mineralization that coincides with an intrusive body, a magnetic high, elevated molybdenum in soil, and surface samples of up to 16 grams per tonne gold, 1,825 grams per tonne silver, and 0.43% copper. One hole from the current 2026 program has already tested the new IP target with assays pending, and a northern anomaly confirmed across multiple lines has also been drill tested with results outstanding. Yukon Metals trades on the CSE as YMC and on the OTCQB as YMMCF. NEWS RELEASE

Elemental Royalty has completed its acquisition of Vizsla Royalties, adding a 2 to 3.5% net smelter return royalty on the Panuco silver-gold project in Sinaloa, Mexico to its growing portfolio, bringing direct exposure to one of the highest-grade undeveloped silver districts in the world. The deal closed one day after Elemental was added to the GDXJ index, reflecting the company's expanding scale as it builds a diversified royalty platform with meaningful near-term production leverage. Elemental Royalty trades on the TSX and Nasdaq both under the symbol ELE. 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 at Clear Commodity Network.

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