Morning Briefing: M&A Takes Center Stage this Morning
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m your host, Trevor Hall
It's Monday, December 15th.
The metals market was mostly faced with some profit taking to end the week last week, but buyers throughout the Asia and Europe were back today with gold adding another $50 and meeting some resistance at $4,375/oz this morning. Silver is up 3% after Friday’s selling is closing in on $63.85/oz on its futures contract. The precious metal equities continue to outperform the metals, as the GDX made another new recent high on Friday morning before being sold down on the day. Copper is bouncing higher today as traders are beginning to roll forward positions ahead of a contract expiry this week. Daily flows into the Comex copper stocks are at a record high. Recent data out of China did show factory output growth slowing to a 15-month low in November.
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… 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…..
Li-FT Power Ltd. has agreed to a combination with Australia-listed Winsome Resources Limited, intending to acquire 100% of Winsome's issued securities. Simultaneously, Li-FT has entered into a non-binding letter of intent to acquire an aggregate 75% interest in the Galinée property from Azimut Exploration Inc. and SOQUEM Inc. Both the Winsome Transaction and the Galinée Transaction are intended to unlock value at the Tier-one Adina project by integrating the adjacent Galinée property, which is interpreted to host a continuation of the Adina project's mineralization. Winsome shareholders will receive 0.107 of a Li-FT common share or CDI for each Winsome share, representing a 62% premium to Winsome's closing price on December 8, 2025. The combined entity will create one of Canada's largest hard rock lithium developers, enhancing scale, resource profile, and project economics for the Adina-Galinée asset. Completion of the Winsome Transaction is conditional on the Galinée Transaction and Li-FT's concurrent Subscription Receipt Offering, which is part of a C$40 million Concurrent Offering to fund aggressive exploration and development. (TSXV: LIFT) (ASX: WR1) News Release
Equinox Gold Corp. has agreed to sell its 100% interest in the Brazil Operations, which includes the Aurizona Mine, RDM Mine, and Bahia Complex, to a subsidiary of the CMOC Group for a total consideration of $1.015 billion. The transaction involves an upfront cash payment of $900 million upon closing, along with a production-linked contingent cash payment of up to $115 million payable one year after closing. Equinox Gold stated that the sale is a pivotal step intended to position the company as a North American focused gold producer with a tier-one growth profile. The proceeds are expected to transform the balance sheet and immediately strengthen the company's financial position by fully repaying the $500 million Term Loan and $300 million Sprott Loan, significantly reducing interest expenses. By monetizing these assets, Equinox Gold will concentrate on higher-return, lower-risk growth opportunities in Canada and the United States, anticipating annual 2026 gold production of between 700,000 to 800,000 ounces from its refined portfolio. (TSX: EQX) (NYSE American: EQX) News Release
Alta Copper is being acquired by Fortescue in an all-cash deal. Fortescue will acquire all of Alta Copper’s outstanding common shares not already held. Under the terms of the transaction, Alta Copper shareholders will receive an all-cash Purchase Price of C1.40 per share, which values the company at approximately C138.8 million on a fully diluted basis, with the consideration funded from Fortescue's existing cash reserves. This purchase price represents a 50% premium to Alta Copper's 30-day volume-weighted average trading price as of December 12, 2025. The acquisition allows Alta Copper shareholders to gain immediate, full liquidity at a premium price, thereby avoiding the substantial dilution that would be necessary to independently finance the Cañariaco copper project. Alta Copper's leadership believes the deal is an excellent outcome because it transfers the burden of navigating the complex, multi-year community and regulatory approvals process in northern Peru to Fortescue. (TSX:ATCU) (OTCQX:ATCUF) News Release
The US Export-Import Bank has approved a major financing package of $1.25B to support the development of Barrick’s Reko Diq project in Pakistan. In the news release, the bank stated the project financing would help bring in up to $2B worth of high-quality US mining equipment and services required to build and operate the mine. Reko Diq represents one of the largest copper and gold reserves in the world having estimated reserves of 5.9 billion tonnes of ore grading 0.41% copper and gold reserves amounting to 41.5 million oz, and a mining life of at least 40 years.
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.