Morning Briefing: Gold Reclaims Five-Thousand as Miners Show Resilience
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Ian Wagner covering for Trevor Hall.
It’s Wednesday, February 4th.
Gold futures continued to rebound over the past 24 hours, clawing back much of Monday’s selloff as dip buyers stepped back into the market. Gold is trading back above the five-thousand-dollar level overnight and into this morning, while silver also staged a sharp recovery, rebounding strongly after recent volatility and currently sits just above $90/ounce front month future. Gold is nearly back to the level it was just one week ago, though it sure does feel like a lot’s happened since then. Mining equities initially fell on increased fears of further weakness in the metals, but rebounded late in the day. Meanwhile, the U.S. dollar was little changed, trading mostly sideways as rate-cut expectations and policy uncertainty continue to cap upside. Overall, the precious metals complex showed renewed resilience after a choppy start to the week.
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…..
Alamos Gold provided an updated three-year production and operating guidance. Production guidance for 2026 decreased relative to the previous guidance provided in January 2025, with slightly lower production from Canadian operations partially offset by an increase at the Mulatos District. Production guidance for 2027 is largely in-line with Previous Guidance and represents a 13% increase from 2026. A further 15% increase is expected in 2028, driven by the completion of the Island Gold District Expansion for a cumulative 46% increase in production relative to 2025. Total cash costs and AISC expected to decrease 24% and 18%, respectively, by 2028 relative to 2025, while costs are expected to see continued decline beyond 2028. Alamos trades on the NYSE at AGI and on the TSX: AGI. News Release
Talon Metals shared new step-out drill results from the Vault Zone of the Tamarack Nickel-Copper-Cobalt Project in Minnesota. Drill hole 563B, drilled 16 meters to the northwest of drill hole 563, intercepted 8.85 meters of massive sulphide units starting at 774.40 meters, which assayed 9.60% Ni, 12.65% Cu, 0.09% Co, 11.44g/t palladium + platinum and 11.12 g/t Au. Other holes reported this morning included 19.11m of 6.39% NiEq starting at 670m with another 3.2m of 9.9% NiEq. Talon's three in-house drill rigs are actively drilling the Vault Zone with the goal of continuing to expand mineralization. (TSX: TLO) (OTCID: TLOFD) News Release
Hercules Metals published new drill results from the Leviathan porphyry copper discovery in Idaho. Footwall Mineralization in the Northern part of the deposit returned 420m of .6% Cu, 6 g/t Ag and 65 ppm Molybdenum in Hole 15. Hole 17 shows strong hypogene enrichment with an intersection of 46m of 2.17% Cu and 16 g/t Ag within a broader interval of 585m of .39% Cu and 2.1 g/t Ag. A Phase II M.T.+E.L.F. geophysical survey infilled a multi-kilometer conductivity anomaly outlined by the initial Phase I program. The higher-resolution data now delineates up to five discrete high-conductivity centers within the broader anomaly, which are planned for testing during the 2026 drill season. (TSXV: BIG) (OTCQB: BADEF) News Release
Dolly Varden Silver reported results from drilling that successfully infilled and expanded the northerly plunging, high-grade gold and silver mineralized trend at the Homestake Silver deposit. A total of 29 drill holes were completed at Homestake Silver and two at Homestake Main in the 2025 program, five of which have been released previously. Highlights from the silver-rich southern portion of the deposit from drill hole HR25-466 intersected a wide mineralized zone averaging 4.66 g/t Au and 33 g/t Ag over 48.49 meters and included narrower high-grade veins and vein breccias returning grades of 52.15 g/t Au and 306 g/t Ag over 1.01 meters and 46.55 g/t Au and 298 g/t Ag over 1.87 meters. (TSXV: DV) (NYSE American: DVS) News Release
Vizsla Copper says drilling is now underway at the Poplar Project in British Columbia. Up to 8,000 meters of drilling is planned with two drill rigs focused on expanding the recently discovered Thira porphyry copper-molybdenum system and evaluating additional high-priority porphyry targets across the broader Thira alteration corridor. A second drill rig is evaluating additional porphyry targets at Camp Lake and Copper Pond. (TSXV: VCU) (OTCQB: VCUFF) News Release
Meridian Mining has entered into an agreement Stifel Canada, and BMO for a bought deal financing for 25,316,500 common shares of the Company at a price of C$1.58 per share for gross proceeds of $40M. The Company intends to use the net proceeds of the Offering to advance the definitive feasibility study for its Cabaçal Au-Cu project, to continue to advance Santa Helena to an initial resource, to expand regional exploration programs on the wider Cabaçal VMS Belt and for general corporate and administration costs and general working capital. (TSX: MNO) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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