Morning Briefing: Radisson Mining Publish their PEA for O'Brien
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Wednesday, July 9th
Copper futures in New Tork spiked yesterday after US President Trump said he planned to implement a 50% tariff on imports of the metal. Contracts on the Comex climbed as much as 17% on Tuesday, a record one-day upward move, before falling more than 4% on the day. The New York price saw a 24% premium to equivalent futures in London. Gold is currently down a bit, hovering just a few dollars above $3,300 an ounce.
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-dash-gold.com
And here’s what you need to know this morning…..
Radisson Mining Resources published its preliminary economic assessment this morning for the O’Brien Gold Project in the Abitibi region of Québec. The study assumes off-site toll milling based on the results of a recent milling assessment and metallurgical study that demonstrated the potential compatibility of the nearby Doyon gold mill with IAMGOLD. The study highlights an After-tax NPV5% of $871M, IRR of 74%, and payback of 1.1 years at US$3,300/oz Au at a gold price of $2,550/oz. Initial capital cost comes in at $175M. (TSXV: RDS) (OTCQB: RMRDF) News Release
Meridian Mining reported drill results from the Cabaçal Au-Cu-Ag VMS project. Results included CD-702's 28.6m @ 3.5g/t AuEq from 127.6m, in the more sparsely drilled southeastern sector of the Cabaçal PFS1 open-pit. Stronger than expected zones of copper ore have been encountered here that are expected to improve local grade continuity. Today's results provide further data to improve both grade and density modelling, as Cabaçal DFS's infill drilling program nears its final stages. Drilling continues and more results are pending. (TSX: MNO) (FSE: 2MM) (OTCQX: MRRDF) News Release
Magna Mining reported new drill results from the Levack Mine near Sudbury, Ontario. Hole 14A returned 0.9% Cu, 1.6% Ni and 6.1 g/t Pt + Pd + Au over 2.9 metres at the Levack No 3 Footwall. A the Keel zone, drilling returned 25.1% Cu, 0.2% Ni, 4.5 g/t Pt + Pd + Au over 0.3 metres. There are currently two surface diamond drills operating at Levack Mine, one completing near surface infill and metallurgical drillholes on the No. 1 and No. 2 zones, and a second drill exploring the footwall environment between the No. 3 Ni-Cu orebody and the Morrison Cu-Ni-PGE Deposit. Based on existing drill data, geological and geophysical interpretations, Magna believes that the footwall environment at Levack remains prospective for new Cu-PGE discoveries. (TSXV: NICU) (OTCQX: MGMNF) News Release
Canterra Minerals reported hree additional drill holes which returned high-grade drill results from its flagship Buchans Project in Newfoundland's Central Mining District, where the Company is advancing a fully funded, 10,000 metre drill program. The latest holes at the Pumphouse target intersected high-grade copper and base metal mineralization 800 metres northeast of Canterra's Buchans Lundberg Deposit and the past producing Buchans Mine, further demonstrating the area's potential to host multiple high-grade mineralized zones. Results today included 4.07% CuEq over 4.20 m, 6.66% CuEq over 2.35 m and 6.35% CuEq over 0.26 m. Following this success, Phase II drilling has commenced. This next phase will test high-priority geophysical anomalies identified by a recent 3D IP survey. (TSXV: CTM) (OTCQB: CTMCF) News Release
Kenorland Minerals provided a thorough exploration update from their portfolio of projects. One item of notice in today’s release was the mention of their 6.5% equity interest in Koulou Gold, a privately held West African exploration company. Koulou Gold recently completed a $18.85 million financing including the exercise of warrants by Endeavour Mining plc, to support its 2025/2026 exploration campaign in Côte d'Ivoire, which includes up to 48,000 metres of drilling across multiple projects. (TSXV: KLD) (OTCQX: KLDCF) News Release
In production numbers released today, Fortuna mining says their Q2 production hit over 71,000 gold equivalent ounces. Gold production from ongoing operations of 61,736 ounces; compared to 56,000 oz Au in Q2 20241,2 and 58,820 oz Au in Q1 2025. Fortuna reiterates its updated annual production guidance for 2025 in the range of 309,000 to 339,000 GEO. (NYSE: FSM | TSX: FVI) News Release
Amerigo Resources produced 15 and a half million pounds of copper in the quarter and keep its 2025 production and cash costs in place. The company also bought shares back in total of $7.6M on the quarter, bringing that half year total to $12.1M. (TSX: ARG; OTCQX: ARREF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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