Morning Briefing: Markets still undecided about US-Iran conflict
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 Tuesday, March 24.
Markets are still trying to decide whether there is progress or not in finding an end to escalation in the U.S.-Iran war. After dropping all the way to $81 yesterday, oil has been mostly bouncing in the $90 range. Gold is trying to get up off the floor after dropping all the way to $4,180. It is now at the $4,400 range. Last checked, copper is at $5.40s. S&P futures are flat.
We will get to the news 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...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…..
Foran Mining's latest drill results from the Thunder Zone at its McIlvenna Bay Project returned 9.6-metre intercept grading 1.76% copper equivalent, and a 4.50% zinc component. This winter drilling extended the known strike length of the zone by 100 metres to the northwest, proving that the polymetallic mineralization remains open for further expansion. Located just five kilometres from the main deposit, the Thunder Zone is part of Foran's district-scale growth strategy (TSX: FOM). News release
Troilus Mining said it completed basic engineering at its copper-gold Troilus Project located in north-central Québec. A feasibility study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation (TSX: TLG). News release
Brixton Metals announced that it has graduated and commenced trading on the OTCQX Best Market under the ticker symbol “BBBXF”. Brixton’s common shares will continue to trade on the TSX Venture Exchange under the symbol “BBB” (TSX-V: BBB, OTCQX: BBBXF). News release
Heliostar Metals updated its minerals resource after announcing yesterday that it would acquire the Goldstrike project from Liberty Gold. Goldstrike contains an indicated mineral resource of 975,000 ounces of gold grading 0.46 g/t. Initial purchase price of US$10M in cash plus US$2.5M in Heliostar shares on closing, plus additional milestone payments totalling US$60M in cash over a maximum of five years (TSXV: HSTR). News release
Sierra Madre Gold and Silver announced that it has repaid US$2.5 million of the US$5 million non-revolving, secured term loan between First Majestic Silver and the company (TSXV: SM). News release
Nevada King Gold announced $16 Million financing including a $10M strategic investment by Centerra Gold. Nevada King is focused on its Atlanta Gold Mine project located along the Battle Mountain trend in southeast Nevada (TSX-V: NKG). News release
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That’s it for today everyone. Have a great day. Stay safe.
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