Morning Briefing: MSD Welcomes Michael McCrae as New Correspondent

Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.

It's Thursday October 2nd.

Gold moved higher early yesterday morning before ADP jobs numbers were reported, which came to be a huge miss based on expectations. Not only were September numbers abysmal, with the loss of 32,000 private sector jobs shown in the report, but August numbers were also revised as negative. The labor market remains weak and investors, especially in the major indices, saw it as good news for lower capital costs on the horizon. Silver continued to outperform gold yesterday. It was up over 2% on the day, compared to gold ending the day up 6/10ths. Tomorrow we scheduled to see the non farm payrolls report, but that seems highly unlikely now with the government shutdown. One quick programing note, I’m happy to announce that Michael McCrae is joining MSD as a new correspondent with the program. So to appropriately welcome Mike, we have him here with us now. Michael, good morning. A few of our listeners may recognize you.

We’re certainly thrilled to have you on board. What are some of the big stories you are now watching in the resource sector?

Alright, so everyone, you’ll be hearing more from Michael McCrae here on the channel. Thank you Mike!

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….. 

Stellar AfricaGold reported assay results from its first drill hole at the Tichka Est Gold Project, part of the ongoing 1,500-meters summer diamond drill program at the Zone B gold discovery, an area of approximately one square kilometer within Stellar’s 82km2 permit area in Morocco. Hole 1 returned 13m of 6.12 g/t Au and another 16m of 1.98 g/t Au. Mineralisation is mainly hosted in sub-horizontal diorite sills. A total of 492.8 meters of diamond core drilled to date across three holes in Zone B. One drill rig currently operating, with drilling progress averaging approximately 10.5 meters of diamond core per day. (TSX-V: SPX) News Release

Intrepid Metals provided assay results from the new Clanton Zone on the company’s flagship Corral Copper Property in Arizona. The Clanton Zone is located roughly 200m south of the Ringo Zone and has been traced over 180m. The latest drill hole, CC25_040 intersected 71.70m of 0.88% Copper Equivalent1 ("CuEq") including 24.35m of 2.30% CuEq and 7.90m of 5.32% CuEq. The Clanton Zone also includes CC24_016, which intersected 198.00m of 0.93% CuEq including 72.20m of 1.73% CuEq. (TSXV: INTR) (OTCQB: IMTCF) News Release

Aton Resources published final results from its diamond drilling program a the Abu Marawat deposit in Egypt. The company published results from 19 holes, which included highlights of 39.55 g/t Au and 161 g/t Ag over 3.9m, 9.63 g/t Au and 86.5 g/t Ag over 17.7m and 8.18 g/t Au and 91.8 g/t Ag over 2.4m. Mineralization also contained various degrees of copper and zinc. The diamond drill programme started in June 2024, and has now been completed with 113 holes drilled for a total of 9,642.7 metres. During the programme holes have predominantly been drilled horizontally or at shallow angles to test previously undrilled near-surface mineralisation. (TSX-V:AAN) News Release

Fortuna Mining has an agreement in hand with DeSoto Resources, which is an Australian-listed gold exploration company, to establish an exploration alliance and joint venture across the highly prospective Siguiri Basin in Guinea. A new joint venture company (JVCo) will be formed, with a board of up to four directors, two from each party, with the majority partner holding a casting vote. The group with enter into a project generation phase for 36 months to identify “Go Projects”, meaning significant discoveries warranting further development. Once a Go Project is agreed upon, JVCo will transition into a formal joint venture in which Fortuna will hold 70 percent and DeSoto will hold 30 percent, and Fortuna will solely fund exploration until the later of 3 years or at a point when US$12.5M cumulative expenditures have been met. (NYSE: FSM | TSX: FVI) News Release

Collective Mining announced it has entered into an agreement with BMO Capital Markets and Scotiabank as joint bookrunners on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase, on “bought deal” basis, 5,270,000 common shares in the capital of the Company, at a price of C$19.00 per Common Share for gross proceeds of approximately C$100 million. If the Over-allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately C$115 million. The Offering is expected to close on or about October 8, 2025 and is subject to Collective receiving all necessary regulatory approvals.  (NYSE: CNL, TSX: CNL) News Release

NexGen Energy has also launched an equity financing on a bought deal basis for $400M Australian dollars and another $400M CAD. The Offering is expected to close on or about October 15, 2025 and is subject to the Company receiving all necessary regulatory approvals, including conditional acceptance of the Toronto Stock Exchange and approval by the New York Stock Exchange. (TSX: NXE) (NYSE: NXE) (ASX: NXG) News Release

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

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