Morning Briefing: New JV in Idaho Set to Construct Antimony Processing Facility
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It’s Tuesday, February 10th.
The $5,100 area for gold seems to be showing some resistance for the gold price as its attempted to move higher from their 3 different times in the past week, but to no avail. Today, gold seems to be in consolidation mode, down 3/10ths of a percent this morning from yesterday’s close. Silver is down 1% at time of recording to the $81 area. Copper is also seeing some consolidation on its chart, hanging around the $6/ lb area where it has been somewhat glued to for the past few months. In some latest developments out of the gold producers, Newmont says they’d like to see Barrick to address its underperformance at the JV with Nevada Gold Mines before it proceeds with the IPO of its North American assets. Newmont says the JV has suffered a degradation in performance and subsequent asset value over the past 6 years.
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…..
Americas Gold and Silver has entered into a definitive agreement with United State Antimony forming a joint venture to construct and operate an antimony processing plant in Idaho’s Silver Valley. The JV, which will be 51% owned by Americas and 49% by US Antimony will provide a mine-to-finished antimony production solution to secure the supply chain for this critical mineral within the United States. Americas will contribute the site under existing operating permits for the JV Facility at its Galena Complex. US Antimony will provide the engineering and construction of the facility along with access to its antimony marketing network, including the US Government. Americas holds a 51% ownership interest in the joint venture, with US Antimony holding 49%. (TSX: USA) (NYSE American: USAS)(NYSE American: UAMY) News Release
Liberty Gold announced an independent and updated mineral resource estimate for the Black Pine Gold Project in Idaho. Using a .1 g/t cut-off grade, the resource now sits with an Indicated Resource of 502.7 million tonnes (“Mt”) at an average grade of 0.30 g/t Au totalling 4,882,000 ounces and an inferred resource of 157.1 Mt at an average grade of 0.21 g/t Au totalling 1,050,000 oz Au. This represents oxide-only Au mineralization; there is no sulfide Au mineralization contained in the MRE. (TSX: LGD; OTCQX: LGDTF) News Release
1911 Gold published their results from an independent preliminary economic assessment for the True North Project in Manitoba. The report highlights economics with a NPV of $391M and an IRR of 105% using a $3,000 gold price. Payback is expected to be over the span of 2.2 years on the base case with an all-in sustaining cost of $1,897/oz of gold. The PEA utilizes the fully built and permitted infrastructure, including shafts, underground workings, and the processing and tailings management facility. 1911 Gold has estimated the infrastructure replacement value as being in excess of $400 million. The plan targets steady-state production of 58,114 ounces per annum with a mine life of 11 years. (TSXV: AUMB) (OTCQX: AUMBF) News Release
Revival Gold reported their latest drill results from last year’s drilling at the Mercur Gold Project in Utah. Assay results have been received from an additional twenty drill holes with highlights of 1. g/t Au over 30.5m and .9 g/t over 30.5m. Drilling has also extend gold mineralization outside the known mineral resource north of the Rover area with results of 1 g/t Au over 10.7m and 1.3 g/t over 15.2m. The 2025 drilling program at Mercur finished in December with 115 RC and core holes completed. 86 holes have been released to-date. Data collected will support the Company's planned pre-feasibility study, a major milestone on the path to restarting gold production at Mercur. (TSXV:RVG) (OTCQX:RVLGF) News Release
NGEx Minerals published drill results form four holes at the ongoing Phase 4 program on the Lunahuasi project in San Juan, Argentina. Results included 1,246.5m of .86% CuEq, 49m of 2.29% CuEq, 131m of 5.09% CuEq and 32.3m of 4.95% CuEq. These results come from the Saturn and Mars Zones. To date, over 17,000m have been drilled during Phase 4 with fifteen holes completed and eight underway. Drill hole targeting has shifted to larger step-outs and testing new exploration targets, and four of the eight current holes are over 1,000m deep. (TSX: NGEX) (OTCQX: NGXXF) News Release’
Apex Critical Metals says its Phase I drill program is fully mobilized, with two drill rigs now active at the Company's 100%-controlled Rift Rare Earth Project, located within the Elk Creek Carbonatite Complex in southeastern Nebraska. Hole 2 was collared approximately 100m south of historical hole 4 has intersected carbonatite over an approximately 330m interval starting at 178m downhole and extending through the interpreted mineralized zone. Assays remain pending. The Phase I drill program at the Rift Rare Earth Project is designed to confirm and expand upon significant rare earth element (REE) mineralization identified by historical drilling, while systematically testing the continuity of mineralization along strike and at depth. (CSE:APXC) (OTCQX:APXCF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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