Morning Briefing: Metals in Pullback Mode this Morning
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m your host, Trevor Hall
It's Wednesday, January 7th.
After a rather jubilant start to the year and week, the metals complex is in pullback mode this morning, with gold down over 1% and silver down 4%. Platinum and palladium are also seeing some selling in the session. Copper is back below $6 a pound this morning, taking back its gains from yesterday. The pullback is in order and a healthy one. Sentiment continues to be dangerously high for the complex. Oil, however, is far from jubilant, as those prices continue to fall after President Trump said he will send Venezuelan oil to the US for refinement. Federal Reserve Governor Stephen Miran said the US central bank will need to cut interest rates by more than a percentage point in 2026, arguing monetary policy is restraining the economy. Miran has been calling for aggressive rate cuts since September, when he went on leave from his post as chair of the White House Council of Economic Advisers to fill a Fed governor term that ends this month.
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… Equinox Gold.
Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com
And here’s what you need to know this morning…..
Revival Gold published their latest drill results from the company’s Mercur Project in Utah. Assay results have been received from an additional nineteen drill holes. Highlights this morning included 1.8 g/t au over 25.9m, 1.3 g/t over 21.9m and .7 g/t Au over 29m. Results to date continue to confirm the expected tenor and leachability of mineralization and demonstrate exploration upside opportunities at Main Mercur. The 2025 drilling program at Mercur finished in December with 115 RC and core holes completed. Data collected will support the Company's planned 2026 pre-feasibility study. (TSXV:RVG) (OTCQX:RVLGF) News Release
Newcore Gold shared additional drill results from the 45,000mm drill program at the Enchi Gold Project. Today’s results come from the Boin Deposit and included a high-grade gold hit of 173.75 g/t Au over 1m from a depth of 264m. Other results included 3.54 g/t Au over 23m with 8m in there of 6.92 g/t Au. These results are the deepest drilling completed at Enchi with drilling intersecting gold mineralization within a vertical depth of 200 to 300 meters. All deposits at Enchi, including Boin, remain open for further expansion to depth. (TSX-V: NCAU, OTCQX: NCAUF) News Release
Heliostar Metals says it produced 8,459 gold equivalent ounces in the final three months of 2025, which has brought it into its guidance of 31,000-41,000 ounces on the year. All in all, the yearly production from the company registered at 34,098 gold equivalent ounces. The quarterly financials will be reported in March. As of December 31, 2025, the Company had a preliminary cash balance of US$41M and no debt. (TSXV: HSTR) (OTCQX: HSTXF) News Release
OR Royalties provided an update on its Q4 developments. The company earned 21,735 gold equivalent ounces in the fourth quarter of 2025, for a total of 80,775 GEOs in 2025, thereby achieving the Company’s GEO delivery guidance range. For the full year 2025, preliminary revenues from royalties and streams reached a record $277.4 million and preliminary cost of sales (excluding depletion) are estimated at $9.1 million, resulting in an annual cash margin of $268.3 million (or 96.7%). Those are record annual revenues for the company. (OR: TSX & NYSE) News Release
Argenta Silver announced it has entered into an agreement for a bought deal LIFE private placement for C$10M. Red Cloud Securities has agreed to purchase for resale twelve and a half million shares of the company at a price of .80 per share. The Company intends to use the net proceeds from the Offering for the exploration and advancement of the Company's 100% owned El Quevar Project in Salta Province, Argentina as well as for working capital and general corporate purposes. (TSXV: AGAG) News Release
Arizona Sonoran Copper has been granted the Dust Permit form the Pinal County Air Quality Division. Arizona Sonoran is moving forward to re-apply for its amended permits, with targeted completion in 2026, ahead of the Feasibility Study (“FS”). Assuming the final FS has robust project economics, and project financing has been secured, the Cactus Project is expected to be fully permitted for the final investment decision as early as the fourth quarter of this year. (TSX:ASCU | OTCQX:ASCUF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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