Morning Briefing: More Q4 Production Numbers Roll In, Kinross and Orla Make Construction Decisions
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m your host, Trevor Hall
It's Thursday, January 15th.
The metals complex is trading lower this morning as markets digest political headlines out of Washington alongside a firmer risk tone elsewhere. In policy news, Donald Trump has outlined a formal process to secure U.S. access to critical minerals, underscoring a renewed push to reduce reliance on China and rebuild domestic processing capacity. That effort comes as U.S. Congress continues to warn about China’s dominance in rare earths and strategic metals, keeping supply-chain security front and center for commodity markets.
Despite those longer-term tailwinds, gold and silver are under modest pressure today as traders take profits and reassess near-term macro risk. Platinum and palladium are also weaker, tracking the broader pullback across precious metals while industrial demand signals remain mixed. Copper is easing as well, with prices consolidating after recent strength, even as the structural case for critical and electrification metals remains firmly intact.
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… Revival Gold.
Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-gold.com
And here’s what you need to know this morning…..
Minera Alamos reported their preliminary operation results from the last quarter of 2025 from the Pan mine complex in Nevada. Production hit 9,165 oz, exceeding the previously forecasted range of 8,500-9,000 ounces. All in sustaining costs for production came in at $1,604 an ounce in the quarter. The Company's unrestricted cash balance (unaudited) increased to US$34 million as of December 31, 2025. Minera Alamos anticipates announcing 2026 guidance for Pan in the coming weeks. (TSXV: MAI) (OTCQX: MAIFD) News Release
Li-FT Power reported results from its 2025 work program on the Yellowknife Lithium Project in Northwest Territories of Canada. The 2025 YLP work program comprised 18 drill holes totalling 3,171 m, including six holes (2,378 m) for purposes of resource delineation, three holes (546 m) for geotechnical studies, and nine groundwater monitoring wells totalling 247 m. Results reported today included 26m of 1.56% Li2O and 13m of 1.24%. (TSXV: LIFT) (OTCQX: LIFFF) News Release
Scorpio gold has entered into a property option agreement to acquire 100% interest in the thirty-two unpatented lode mining claims known as the Betty East Property in Nevada. Historically, the Property has seen limited exploration, but the property is interpreted to be geologically contiguous with the southern portion of the Manhattan District, with mineralization occurring within favourable lower-plate sedimentary units associated with regional structural controls. Scorpio Gold has also staked additional claims between the Property and its existing Manhattan District land position, consolidating continuous claim coverage and enhancing the Company's ability to systematically explore and test mineralized trends across the broader district. The property is being acquired through staged cash and share payments totalling USD$900,000 and 950,000 common shares and incurring an aggregate $1M of exploration expenditures on the property over five years. (TSXV: SGN) (OTCQB: SRCRF) News Release
Mithril Silver and Gold says work has commenced at Target 3 t its Copalquin District gold-silver project in Durango State, Mexico. The Target 3 maiden drill programme is designed to test the continuity and scale of mineralisation and represents an important step toward unlocking the broader potential of the Copalquin epithermal system. Recent channel sampling results, at the El Jabali historic workings in Target 3 ,returned results up to 0.65 m @ 16 g/t gold and 1,275 g/t silver. Additionally, Target 5 and Target 1 drilling is progressing with the Target 1 drilling scheduled for completion during Q1, 2026 ahead of updating the Target 1 maiden mineral resource estimate (MRE). (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF) News Release
Energy Fuels released results of a new bankable feasibility study for its planned Phase 2 circuit expansion of rare earth element processing at its White Mesa Mill in Utah. The BFS confirms the expansion's exceptional economics, competitive cost structure and ability to supply a significant share of U.S. rare earth demand. With a capex coming in at $410M, the expansion shows economics with a $1.9 billion NPV8%, or $7.96 per share (based on current outstanding shares), and IRR of 33% (after-tax) for the Phase 2 Circuit, which does not include the Company's recently announced Vara Mada project or any of the Company's other HMS/monazite projects, all of which are expected to supply REE ore to the Mill for processing into REE oxides. (NYSE: UUUU) (TSX: EFR) News Release
Orla Mining published results of its updated feasibility study for the South Railroad Gold Project. At a $3,100/oz gold price the project shows economics of NPV5% is $783 million and 48% IRR. The project study highlights average gold production of 130,000 ounces of the first five years at an average asic of $1,485/oz. The Board has also approved the start of project construction, subject to receipt of all required permits. Significant engineering work, contractor and supplier engagement, and project optimizations have been completed, forming the basis for the initial capital cost estimate of $395 million. Project enhancements include a two-stage crushing circuit and improvements to the overall development scope. Development of the Project will be financed through operating cash flow and cash on hand. (TSX: OLA) (NYSE: ORLA) News Release
Kinross says they are proceeding with the construction of three organic growth projects: the Round Mountain Phase X and Bald Mountain Redbird 2 projects in Nevada, and the Kettle River-Curlew project in Washington. These projects are expected to meaningfully extend mine life and will benefit long-term costs within Kinross’ United States portfolio. The projects help maintain Kinross 2 million Au eq. oz. per year, with expected production of 400,000 Au eq. oz. per year between 2029 and 2031 and a total of 3 million Au eq. oz. between 2028 and 2038, based on the initial mine plan inventories. (TSX: K; NYSE: KGC) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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