Morning Briefing: New Updates on Sweden's Uranium Mining Moratorium
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Monday, June 16th.
Gold had its highest daily and weekly close last week, ending Friday at $3,452 per ounce on the back of heightened escalations between Iran and Israel. The news throughout the weekend on precision attacks on Iranian infrastructure and Israeli cities was frequent, leaving traders curious as to where markets would open up last night once futures opened. Currently, gold is down in early morning US hours, down about 16 and a half dollars while silver up up marginally, currently trading at $36.45 an ounce. Copper has regained its losses from last week already, currently at $4.88 per pound. Oil opened its trading last night higher, but happens to be down marginally from Friday’s close, currently at just over seventy and a half dollars a barrel of WTI. We’ll talk more about oil in ClearComm’s Oil Ground up podcast later this week.
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…Calibre Mining
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and in Nicaragua. The company recently announced a deal to merge with Equinox Gold. The transaction will create an Americas-focused diversified gold producer with a portfolio of operating mines in five countries anchored by two high-quality, long-life, low-cost Canadian gold mines, Greenstone and Valentine. You can learn more at https://www.calibremining.com/
And here’s what you need to know this morning…..
District Metals provided a comment on news which came from the Swedish Ministry of Climate and Enterprise. The Ministry did submit a referral to the Council on Legislation which proposes "that the prohibition in the Environmental Code against granting permits for mining operations or mining facilities relating to uranium-containing material be removed and that uranium should be a concession mineral under the Minerals Act". The proposed changes detailed in the Referral will allow uranium extraction under the Minerals Act and detailed bedrock investigations in Sweden. The amendments also permit applications for exploration permits and processing concessions for uranium under specific conditions. The proposal is to be brought to Parliament in the second half of this year and any changes would go into effect on January 1, 2026. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) News Release
Southern Cross Gold published results rom three diamond drill holes from the Rising Sun and Apollo prospects, at the 100%-owned Sunday Creek gold-antimony project in Victoria. Hole 162 returned 3.9m of 124.9 g/t AuEq from a depth of 705m in a 28 m down-dip expansion of a high-grade zone at Rising Sun. Intercept had a .1m subinterval of 2,110 g/t Au in it. Hole 164 at Apollo intersected seven mineralized vein sets and returned 3.5m of 11.7 g/t AuEq and 14.4m of 5.9 g/t AuEq. Drilling continues with twenty holes being processed and eight active holes underway. The company is planning on a total of 200 km of drilling planned through Q1 of next year. (TSXV: SXGC) (ASX: SX2) (OTC Pink: MWSNF) News Release
Axcap Ventures published results from its first hole form the 5,500m drill program at the Converse project in Nevada. The company says the hole has confirmed modelled near-surface gold mineralization but has intersected a potentially new zone of higher-grade mineralization at depth. The hole returned 10.85m of 5.45 g/t Au within a broader interval of 26.18m of 2.5 g/t. Mineralization was extended below the bit shell. This year’s program was designed to confirm the current open-pit resource estimate, reduce the internal waste and strip ratio, and importantly, test for mineralization both below and adjacent to the current pit shell, where it remains open for expansion. (CSE:AXCP) (OTC:GARLF) News Release
Mirasol Resources announced results from the second drill hole at the Potro SE target extends the structurally controlled mineralized hydrothermal breccia system on the Company’s Sobek Copper-Gold Project in the Vicuña District of Chile. The hole returned .9m of 15 g/t AuEq and 17.65m of .22 g/t AuEq. The mineralized breccia’s encountered in the second drill hole were similar to those observed in the first drill hole, with second drill hole exhibiting slightly higher grades over somewhat narrower widths. The second drill hole was completed to a final depth of 918, approximately 80m deeper than the first hole. (TSX-V: MRZ) (OTC: MRZLF) News Release
Rua Gold reported more results from drilling at the Auld Creek project in New Zealand. New results included 2.1m of 64 g/t AuEq and 2m of 1.4 g/t Au. The latest drilling increases the vertical extent of the resource from 160m to 280m and remains open at depth. Current drilling is testing the Fraternal north prospect and Bonanza northeast prospect, where surface soil geochemistry has confirmed the system is traceable over a 2.5km length. Drilling in the second quarter will then probe further at depth and test its extent southward with the goal of growing the current resource. (TSXV: RUA) (OTCQB: NZAUF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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