Morning Briefing: Guardian Metals Publish Results of Pilot Mountain Tungsten PFS

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

It's Tuesday, June 30 — the last trading day of the month and the quarter.

Gold is attempting a bounce this morning, up about a third of a percent to $4,030 an ounce after a rough stretch to close out June. Silver is up 1.3% to $59.02. Copper is gaining one and a half percent to $6.19 a pound — a solid move on the base metals side as we head into the final hours of Q2.

China's factory activity returned to expansion in June, with the official PMI moving back above 50 for the first time in several months — driven by strong demand for chips, computers and other AI-related products. Robust export orders and front-loading to the United States ahead of tariffs helped offset weakness in other parts of the Chinese economy, and the data suggest that the global AI investment boom is providing a meaningful cushion for manufacturers inside China's twenty-trillion-dollar industrial base.

On the geopolitical side, Iran has ratcheted up its language around the Strait of Hormuz ahead of fresh formal talks with the US in Qatar aimed at ending the conflict. Deputy Foreign Minister Kazem Gharibabadi told Iranian state television that Tehran wants to negotiate an agreement with Oman — which borders the southern side of the waterway — to jointly oversee ship traffic through Hormuz. The remarks raised the stakes going into the Qatar talks, and the market is watching carefully to see whether the language signals a negotiating position or something harder.

We'll get to the news from the miners and explorers in just a moment, but first a word about today's sponsor.

This episode of Mining Stock Daily is brought to you by…Vizsla Silver.

Vizsla Silver is advancing the Panuco silver-gold project in Sinaloa, Mexico — one of the highest-grade undeveloped silver projects in the world. The project hosts a large near-surface resource with exceptional grades, and the company recently secured a working capital facility with FIFOMI, the Mexican government's mining finance institution, in support of Panuco's development. Learn more at vizslasilver.ca.

Here's what you need to know today.

Guardian Metal Resources has released a pre-feasibility study for the Pilot Mountain tungsten project in Nevada showing an 8-year open-pit mine life producing 15,916 tonnes of tungsten trioxide, generating after-tax free cash flow of US$1.058 billion at base-case pricing — with an NPV8 of US$660 million and an IRR of 59.6% — rising to US$2.088 billion in after-tax free cash flow, an NPV8 of US$1.366 billion, and an IRR of 101.6% at the June 12 tungsten spot price, with capital payback as short as six months. The project was advanced in part with a $6.2 million US Department of Defense grant under the Defense Production Act and a non-binding off-take letter has been signed with Global Tungsten and Powders. (LON: GMET, OTCQB: GMTLF, NYSE American: GMTL). News Release

Newcore Gold has reported a new high-grade intercept from its 80,000-metre drill program at the Enchi Gold Project in Ghana, with the latest hole returning 3.51 grams per tonne gold over 21.0 metres — including 5.91 grams per tonne over 9.0 metres from the Nyam deposit. Results from drilling completed in 2026, including drilling targeting higher-grade mineralization at depth, are expected to be incorporated into future project economic studies and may support further mine plan optimization. (TSXV: NCAU, OTCQX: NCAUF). News Release

Mithril Silver and Gold has completed a mine-constrained and diluted resource upgrade at Target 1 of the Copalquin Gold Silver Project in Durango, Mexico, with the indicated resource totalling 3.391 million tonnes grading 3.15 grams per tonne gold and 77.8 grams per tonne silver for 464,000 gold-equivalent ounces — with the inferred adding a further 1.436 million tonnes at 2.23 grams per tonne gold and 73.6 grams per tonne silver for 151,000 gold-equivalent ounces. With 75% of the total resource now in the indicated category and grades fully diluted to reflect real-world mining conditions, this estimate is positioned to feed directly into the economic studies needed to advance Target 1 toward a development decision (TSXV: MSG, OTC: MTIRF). News Release

Brixton Metals has intersected 14.75 metres at 1.25% copper, 1.71 grams per tonne gold, and 149.0 grams per tonne silver at the near-surface Glenfiddich Zone within the Camp Creek Corridor at the Thorn Project in BC's Golden Triangle — a polymetallic massive sulphide result that adds high-grade copper-gold-silver mineralization to a corridor the company has been methodically building out. (TSXV: BBB, OTCQX: BBBXF). News Release

Li-FT Power has released drill results from the Yellowknife Lithium Project in the Northwest Territories, with standout holes including 26 metres at 1.29% lithium oxide — including 17 metres at 1.65% — at the BIG East pegmatite, 18 metres at 1.41% lithium oxide at the Ki pegmatite, and 21 metres at 1.09% lithium oxide including 13 metres at 1.38% at the Fi Main pegmatite. The results continue to build out one of Canada's most significant hard-rock lithium land packages across the Yellowknife Pegmatite Province, with the company also having recently entered a binding call option to acquire the former Renard Mine Site in Quebec (TSXV: LIFT, OTCQX: LIFFF). News Release

Apex Critical Metals has mobilized a drill rig and commenced its 2026 exploration program at the CAP Critical Minerals Project, the latest active program for a company that also recently expanded drilling at its Rift Rare Earth Project and closed a C$15 million brokered financing in June. Apex is focused entirely on rare earth elements and niobium — both on the US and EU critical minerals lists — at a moment when Western governments are urgently working to build out non-Chinese supply chains for these materials (CSE: APXC, OTCQX: APXCF). News Release

Regulus Resources has announced the completion of an integrated Mineral Resource Estimate for the Coimolache Sulphide and AntaKori Copper-Gold Project in northern Peru, prepared by SRK Peru, with an internal report now distributed to the joint venture parties — though Regulus says it will provide no further updates on the MRE or discussions with Coimolache until decisions are made on both the resource estimate and a Preliminary Economic Assessment, with no timeline available for those decisions. (TSXV: REG, OTCQX: RGLSF). News Release

Helius Minerals has exercised its option to acquire the Brazilian subsidiaries of Colossus Minerals, securing a 75% interest in the Serra Pelada Gold-PGM Project in Pará State, Brazil. The company satisfied escrow release conditions on a C$39.9 million financing in connection with the option exercise, with full transaction closing now targeted for July 31, 2026 (TSXV: HHH). News Release

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

The information presented should not be considered investment advice. Mining Stock Daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.