Morning Briefing: Loncor Acquired for C$261M, Collective Raises C$140M

Good morning and welcome back to the Mining Stock Daily morning briefing. I’m not Trevor Hall. My name is Michael McCrae and I will be covering for Trevor this week who is at resource shows in Europe.

It's Tuesday, October 14th.

Markets are sliding but gold is staying put. Last checked December gold futures were mostly flat. Gold is currently trading at $4,128. As for the rest of the market, we are all in the red with Bitcoin, oil and the S&P all down. Trump threatened 100% tariffs on China late last week. He partially walked back the threat on Monday, but the damage was done, and today, China has vowed retaliatory sanctions. 

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…Vizsla Silver.

Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at ⁠https://vizslasilvercorp.com/⁠

And here’s what you need to know this morning….. 

Loncor Gold has agreed to be acquired by Chengtun Mining Group in a C$261 million all-cash deal, under which Loncor shareholders will receive C$1.38 per share via a court-approved plan of arrangement. The offer represented a ~33 % premium over the 30-day volume-weighted average price and ~16% premium to the October 10, 2025 closing price. Key shareholders holding ~38% of Loncor shares have already committed to vote in favour of the deal. Loncor is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo. (TSX: LN) (Shanghai: 600711)  News Release.

McEwen Mining is acquiring Canadian Gold in an all-stock trade. Canadian Gold shareholders will receive 0.0225 representing a current offer price of CDN $0.60 per Canadian Gold Share. Canadian Gold's principal asset is its 100% interest in the Tartan Lake Gold Mine Project, located in the province of Manitoba, Canada. Tartan Lake Gold Mine is a former operating mine. (NYSE: MUX) (TSX:MUX) News release.

Benz Mining intersected 79m at 4.4g/t gold at zone 126 at its Glenburgh project in Western Australia. Benz CEO, Mark Lynch-Staunton, commented that the company is looking at a multi-lens gold system. The current intercept of 79m at 4.4g/t gold is approximately 70m below the nearest drilling intercepts including 47m at 1.9 g/t gold and 44m at 4.6 g/t gold. The lens is now currently over 350m in length and is completely open at depth, reported the company. (ASX: BNZ) (TSXV: BZ) News release.

Scorpio Gold announced drilling results at its Manhattan District in Nevada. Hole 25MN-016 returned 0.91 g/t Au over 36.39 m, including 2.97 g/t Au over 3.41 m and 3.33 g/t Au over 4.08 m. Hole 25MN-017 returned 0.80 grams g/t Au over 33.13 m, including 10.07 g/t Au over 5.94 m. Hole 25MN-013 returned 0.49 g/t Au over 30.48 m.    Hole 25MN-015 returned 5.49 g/t Au over 7.32 m. (TSX-V: SGN) News release. 

Collective Mining has closed a concurrent financing package that raised approximately C$140 million in gross proceeds. The deal included a “bought deal” public offering of 6.6 million shares at C$19.00 each, underwritten by a consortium led by BMO Capital Markets and Scotia Capital, and a private placement with Agnico Eagle Mines buying 789,473 shares contributing about C$15 million. The company plans to use the funds to advance exploration and development at its Guayabales Project and support general corporate needs. (NYSE: CNL) (TSX: CNL)  News release

American Pacific Mining is emphasizing the strategic importance of its Palmer VMS Project in southeast Alaska to the U.S. critical minerals supply chain, largely due to its significant barite exposure. American Pacific says that the U.S. is heavily dependent on imported barite, which leaves the country vulnerable to supply disruptions that could affect oil and gas drilling operations. American Pacific reports that its Palmer project hosts an estimated 980,000 tonnes of indicated barite and 3.05 million tonnes inferred. (CSE: USGD) News release

Three production results were released today. G Mining Ventures said its gold production totaled 46,360 ounces, representing a 9% increase over Q2 2025. GMIN runs the Tocantinzinho Mine in Brazil. (TSX: GMIN) News release. 

Orla Mining produced 79,645 ounces. In July Orla lowered its guidance due to an uncontrolled material movement at its Camino Rojo Operations (TSX: OLA) (NYSE: ORLA) News release. 

And Avino Silver & Gold Mines reported production of 580,780 silver equivalent ounces, slightly lower than the previous quarter due to normal mine sequencing (TSX:ASM) (NYSE American:ASM) News release.

Integra Resources provided results from the 2025 growth drilling program at the company’s Florida Canyon Mine in Nevada. Drilling on historical dump material returned 73.2m of .21 g/t Au and 68.6m of .2 g/t. The current cut-off grade for Florida Canyon is .11 g/t Au. Drilling from inter-pit areas have also confirmed broad intervals of gold mineralization with consistent gold grades and heap leach potential. Results here were 76.2m of.48 g/t Au, including 1.5m of 8 g/t. There was another 76.2m of .81 g/t Au highlighted in this drilling.  The 2025 drill program at Florida Canyon is expected to support a mineral resource and reserve update and a revised life-of-mine plan in the first half of 2026. (TSXV: ITR) (NYSE American: ITRG) News Release

Talisker Resources provided an update out the Bralorne gold project in British Columbia. In September, Talisker produced 862 ounces of gold from the Mustang Mine following on from the 707 ounces of gold sold in August for a total of 1,569 for the quarter ended September 30th. Production was sourced mostly from in-vein development from the 1090, 1105 and 1120 levels and production stoping from the stopes between the 1060 and 1075 levels. Planned production in the fourth quarter 2025 will be sourced from stopes between the 1075 and 1090 and the 1090 and 1020 levels. In addition, Talisker has accelerated development of the Lower Mustang decline which will allow access to the 1045 and 1030 levels below currently accessible areas. (TSX: TSK, OTCQB: TSKFF) News Release

Tocvan Ventures reported the discovery of a new mineralized zone featuring historic underground workings within the expansive North Alteration Zone at its flagship Gran Pilar Gold-Silver Project in Sonora, Mexico. This finding expands the known mineralized footprint and highlights significant potential for high-grade gold and silver resources. The newly identified zone, delineated through recent surface mapping and rock-chip sampling trends northwest and aligns with alteration patterns observed across the 3.2 km by 1.5 km North Alteration Zone. Historic underground workings, including adits and shafts dating back decades, confirm early mining activity and provide direct evidence of vein breccia hosted mineralization. Within the North Alteration Zone. Initial sampling from exposed outcrops in the area returned encouraging results, including peak values of up to 5.6 g/t Au and 106 g/t Ag over 2 meters, with broader intervals showing consistent anomalous gold and silver. (CSE:TOC) (OTCQB:TCVNF) News Release

Scottie Resources reported new assays from its 2025 drilling of the Blueberry Contact Zone within the Scottie Gold Mine Project. Results reported 8.37 g/t Au over 8.45m, 122 g/t over 1.2m and 5.64 g/t over 5m. The company also noted that the Bulk sample is progressing on schedule. The crushing and transportation of the sample has been completed; it is now awaiting final gold assays and technical testing for marketing. (TSXV: SCOT) (OTCQB: SCTSF) News Release

Eloro Resources says they have intersected the longest zinc interval discovered to date on the Iska Iska project with 456m of 1.72 % Zinc, and included 190.5m of 2.35% Zn in hole 88. These results further expand the footprint of this domain and indicate that the deposit continues to be open to the east. To date, a total of 6,756m of diamond drilling in fourteen (14) holes has been completed in the current definition drilling phase. A total of 3,371m was completed in the seven (7) reported holes, with assay results pending for one remaining hole totaling 514m in length. (TSX: ELO; OTCQX: ELRRF) News Release

West Red Lake Gold reported new drill results from the Madsen Mine. Results came from the Austin Zone. These results were drilled from the 12 Level in the Madsen Mine at approximately 600 meters (“m”) depth and demonstrate the potential for discovery of additional high-grade lenses of gold mineralization in the main Austin Zone very similar to those that have already been delineated in the South Austin zone. Results were highlighted with 7.75m of 139.45 g/t Au, 8.7m of 74.7 g/t Au and 7.45m of 18.31 g/t Au. The current underground drilling program at the Madsen Mine is focused on further definition of near-term mining inventory, as well as growth of the current mineral resource.  (TSXV: WRLG) (OTCQB: WRLGF) 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 by our friends at the Junior Mining Network. 

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.