Morning Briefing: Markets Look Ahead to a Big Earnings Week

Good morning and welcome back to the Mining Stock Daily morning briefing. I am your host Michael McCrae filling in for Trevor Hall. 

It is Monday, October 26. 

Major stock futures are up slightly. It is a big reporting week as tech earnings are expected from Amazon, Alphabet and Microsoft. 

Markets are also weighing University of Michigan data showing final October consumer sentiment beat expectations, while 1-year and 5-year inflation expectations edged up to 4.7% and 3.5%. 

Global energy markets have experienced sharp volatility, pushing West Texas Intermediate futures above $103 per barrel and Brent crude past $116 per barrel.

Gold futures are at $4,031. Copper futures are at $6.52. 

The Brazil market index is green. Incumbent and left wing President Lula Inacio de Silva pulled off a surprise win over the weekend. 

We will get to the news from the miners and explorers in a moment, but first a mention of today's sponsor: Today's 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

Here’s the news you need to know today.

Argenta Silver’s Mani target is shaping up as a new silver zone, with mineralization starting at or near surface. Four new holes hit silver within 3 m of surface, led by QVD-482 at 249 g/t Ag over 22.0 m, ending in mineralization. They build on QVD-433, which cut 4,982 g/t Ag over 7.5 m within 710 g/t Ag over 56.0 m. A deeper hit about 1 km east at Copan returned 1,385 g/t Ag over 4.0 m at roughly 270 m (TSXV: AGAG). News Release

Mogotes Metals has signed a binding offer to buy back GRG Resources’ 1.5% NSR royalty on its Filo Sur project for $13 million, split evenly between $6.5 million in cash and $6.5 million in shares priced on a 20-day VWAP. The deal is not yet final, as the parties still need to negotiate a definitive agreement and secure TSXV approval and contractual consents, with closing targeted by December 29, 2026 (TSXV: MOG). News Release

Fury Gold Mines reported new Phase 2 results from its Eau Claire project in Quebec’s James Bay region, led by hole 26EC-131 at 14.95 g/t gold over 4.25 m true width, about 60 m up-dip from historical hole ER15-572, which returned 6.18 g/t over 5.05 m. The other highlights, at 6.81 to 13.15 g/t gold, came over narrow widths of roughly 1.4 to 1.5 m, and all holes in the release were drilled in areas currently classed as Inferred. The roughly 25,000 m program aims to convert Inferred ounces to Indicated, with 46 holes and about 21,857 m completed so far but assays back for only 26 holes, five holes abandoned, and an updated resource tied to a pre-feasibility study planned for 2027 (TSX and NYSE American: FURY). News Release

District Metals reported results from its summer 2026 reconnaissance program at the 100% owned Nianfors uranium property in Sweden, where 34 grab and chip samples from boulders and outcrops returned up to 937 ppm U3O8, 667 ppm Yttrium oxide and 509 ppm Mo. The best values came from a historical field of 889 mineralized boulders over roughly 500 m by 200 m that averaged 1,600 ppm U3O8 in past sampling but has never been drill tested. The company is now integrating the geochemistry with mapping and its 2025 drone radiometric survey to define drill targets, though the new surface grades sit well below the historical boulder average and no bedrock source has yet been confirmed (TSXV: DMX). News Release

Li-FT Power released assays from the first 5 of 45 holes at its Adina-Galinée lithium project in Quebec’s James Bay region, highlighted by ALP0002 at 1.43% Li2O over 56 m and ALP0003 at 1.64% Li2O over 28 m, both in the Galinée Zone. The 2026 program, totalling 39 new holes and 11,420.5 m plus six unreleased 2024 holes, focused on Galinée, the least defined of three zones in a shallow-dipping pegmatite corridor about 350 m wide and 2.5 km long under till cover. The company plans to fold the Main, Footwall and Galinée zones into a combined resource estimate and PEA targeted for early 2027, with processing envisioned at the Renard facility, which LIFT holds under option but does not yet own. With 40 holes still pending, these early results confirm grade and thickness at Galinée but say little yet about how the zone will scale in a resource (TSXV: LIFT). News Release

Pirate Gold closed a brokered flow-through private placement led by Canaccord Genuity for gross proceeds of $13.6 million, issuing 48.3 million flow-through shares at $0.215 and 13.05 million special flow-through shares at $0.2475. The money must be spent on qualifying exploration at the Treasure Island Project in Newfoundland, which covers more than 90 km of the Valentine Lake Fault Zone and hosts the Moosehead gold system and the Moby Dick copper-gold discovery, by the end of 2027 (TSXV: YARR). News Release

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