Morning Briefing: Heliostar Metals to acquire Liberty Gold project, Trump announcement lifts markets
Good morning and welcome back to the Mining Stock Daily morning briefing. I am not Trevor Hall. I am Michael McCrae and will be filling in this week.
It’s a fast moving Monday, March 23.
Early Monday morning, President Trump released a statement that he was negotiating an end of hostilities between the U.S. and Iran. Trump said military strikes against power plants and energy infrastructure will be suspended. Iran’s position is unclear. Aljazeera reported that Iran’s Foreign Ministry made a statement through Iran’s semi-official Mehr news agency. Iran’s ministry says there is no dialogue between Tehran and Washington. The statement by Trump rocked markets early morning. NYMEX crude oil fell as low as $84 a barrel before recovering. Last checked, oil was at $90 a barrel. Gold futures have fallen as low as $4,100. The metal is now trading at the mid $4,500. Copper futures also took a steep tumble early this morning, trading as low as $5.25. The metal is now at the $5.40 range. S&P Futures are up 1.75%.
We will get to the news out on the miners and explorers in a minute, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by...Integra Resources
Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
And here’s what you need to know this morning…..
Heliostar Metals Ltd. has signed a binding agreement to acquire full ownership of the Goldstrike project in Utah from Liberty Gold Corp. To acquire the project, Heliostar will pay Liberty Gold a total consideration of US$72.5 million. The transaction is structured to include an initial US$10 million in cash and approximately 1.59 million shares at closing, with the remaining US$60 million distributed across future milestones and anniversaries over a five-year period. The 5,173-hectare property, located northwest of St. George, consists of a mix of patented claims, unpatented claims, and state-leased land. Pending standard regulatory and exchange approvals, the deal is expected to close within 30 days. Heliostar said the deal will support Heliostar's goal of reaching 500,000 ounces of annual gold production by the end of the decade (TSXV: HSTR). News Release
Top ten gold miner Zijin Mining is expanding its presence in the gold sector by acquiring a controlling stake of nearly 26% in Chifeng Gold for approximately $2.5 billion. To achieve this, a Zijin subsidiary will purchase 242 million A shares and subscribe to 311 million newly issued H shares. The transaction is valued at roughly 11.6 times Chifeng's projected 2026 earnings. This major acquisition drastically increases Zijin's previously modest holdings, granting the company operational control over a diverse portfolio of seven mining assets across China, Southeast Asia, and West Africa. In January, Zijin Gold acquired Allied Gold for C$5.5 billion (HKG: 2899). News Release
On Friday Pirate Gold Corp. said it officially commenced drilling at the Crippleback Lake Target Zone within its Treasure Island Project in central Newfoundland. The company says that its new target features a large, intensely altered geological zone that shares similarities with the nearby Valentine deposit and shows potential for a gold-copper porphyry-style system. By initiating drilling at Crippleback alongside its ongoing high-grade vein expansion at the Moosehead site, the company said it is employing a dual-track exploration strategy to maximize its discovery potential across the property (TSXV: YARR). News Release
Q2 Metals has provided an update on its winter 2026 drilling campaign at the Cisco Lithium Project in Quebec. Recent drilling intersected multiple wide, continuous spodumene pegmatite intervals, with several holes returning spans of well over 200 meters, noted the company. The company has completed 37,372 meters of drilling across 83 holes to date, though all analytical results from the 2026 program currently remain pending (TSX.V: QTWO). News Release
Last week, Apex Critical Metals released an update on its Phase 1 drill program at the Rift Rare Earth Project located in Nebraska. The company has completed over half of its planned drilling, with six holes finished and two currently underway for a total of 5,175 meters drilled so far. According to Apex, operations have consistently intersected the targeted carbonatite host rock, which aligns with and supports the company's current geological model for the site. While structural data and core logging are actively underway, Apex is still awaiting geochemical assay results from a laboratory to confirm the actual presence and grade of any rare earth element mineralization. The Phase 1 program is expected to conclude in April, with assay results anticipated throughout the second quarter of 2026 to guide the next stage of exploration (CSE:APXC). News Release
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That’s it for today everyone. Have a great day. Stay safe.
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