Morning Briefing: Record Quarter for Minera Alamos
Good morning and welcome back to the Mining Stock Daily morning briefing. I am Trevor Hall.
It's Tuesday, May 26.
Spot gold is at $4,513 an ounce. Silver hanging in at $76.16. Copper pulling back to $6.37 a pound.
It was a long weekend in the U.S. with markets closed Monday for Memorial Day — and the Iran situation made full use of that time. What looked like genuine progress on Saturday, with reports of a memorandum of understanding close to finalization and renewed talk of reopening the Strait of Hormuz, turned into more air strikes by Sunday and Monday. U.S. Central Command confirmed self-defense strikes on Iranian missile launch sites and boats around the Strait, with three explosions reported in Bandar Abbas early this morning local time. The IRGC is threatening retaliation. Secretary of State Rubio says talks are continuing but being held up by disagreements over specific wording — quote, 'a word, a sentence.' Markets are back open today and this on-again, off-again dynamic is the story to watch for gold and energy.
We’ll get to the news from the miners and explorers in just a moment, but first a word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Vizsla Silver
Vizsla Silver is advancing the Panuco silver-gold project in Sinaloa, Mexico — one of the highest-grade undeveloped silver projects in the world. The project hosts a large near-surface resource with exceptional grades, and Vizsla is advancing Panuco toward a production decision with active financing and development work. Learn more at vizslasilver.ca.
Here’s what you need to know today.
Vizsla Silver has secured a MXN$173 million working capital facility with Fideicomiso de Fomento Minero — known as FIFOMI — a Mexican government-backed financial institution specializing in the mining sector. The facility is unsecured and was entered into through Vizsla's Mexican subsidiary Minera Canam S.A. de C.V. in support of the development of the Panuco silver-gold project in Sinaloa. CEO Michael Konnert called the agreement another important step in the endorsement and validation of Panuco as an economically important project for both Sinaloa and Mexico (TSX: VZLA, NYSE American: VZLA). News Release
Minera Alamos has reported record Q1 2026 results and announced the official closing of its US$75 million revolving credit facility with Scotiabank and National Bank. On the financial results front, the company set quarterly records across the board — revenue of US$39.2 million, net earnings of US$10.9 million or $0.10 per share, and EBITDA of US$15.3 million — driven by record gold sales of 9,134 ounces from the Pan mine in Nevada at an average realized price of $4,287 per ounce. Total cash costs came in at $1,659 per ounce and AISC at $1,818 per ounce, both below the lower end of annual guidance. The newly closed three-year revolving credit facility will be used to refinance the existing gold prepayment facility, giving investors fuller participation in current gold prices. Minera Alamos is also expected to release a pre-feasibility study on its Copperstone gold project in Arizona this week (TSX-V: MAI, OTCQX: MAIFF). News Release
1911 Gold has reported high-grade results from its surface diamond drill program at the Ogama-Rockland Gold Deposit in southeast Manitoba, approximately 45 kilometres southeast of the True North Gold Project. The eight-hole, 2,410-metre program was designed to confirm the updated geological interpretation and test extensions of the mineralized veins outside the 2013 mineral resource estimate. The headline intercept returned 10.41 grams per tonne gold over 3.40 metres, including 32.40 grams per tonne gold over 1.00 metre. The company also sampled core from 15 historical drill holes not previously assayed, and an updated mineral resource estimate is expected toward the end of Q2 2026 (TSX-V: AUMB, OTCQB: AUMBF). News Release
Pirate Gold has expanded the Moosehead zone at the Treasure Island project in Central Newfoundland, with hole PGC-26-051A returning 21.4 grams per tonne gold over 2.20 metres, including 91.1 grams per tonne gold over 0.50 metres, from a vertical depth of 140 metres. Expansionary drilling has now tested the Rib Vein discovery at Moosehead across 150 metres of strike and 90 metres of vertical depth, with consistent high-grade results. The Treasure Island project covers over 90 kilometres of strike along the Valentine Lake Fault Zone in Canada's newest gold district, and follow-up drilling is ongoing (TSX-V: YARR, OTCQB: YARRF). News Release
StrikePoint Gold has drilled its best hole to date at the Hercules Gold Project in Nevada's Walker Lane, with hole H26004 cutting 114.30 metres grading 0.69 grams per tonne gold and 5.03 grams per tonne silver — the widest and strongest intercept at Hercules as measured by grade-width. The hole includes three higher-grade intervals: 9.14 metres at 2.95 grams per tonne gold with 16.18 grams per tonne silver, 7.62 metres at 1.02 grams per tonne gold, and 9.14 metres at 1.23 grams per tonne gold. The result also defines a new broad zone of oxide gold mineralization developing at the Cliffs target. StrikePoint is targeting a maiden resource estimate at Hercules in Q4 2026 (TSX-V: SKP). News Release
Hercules Metals has reported results from drill hole HER-25-25 at the Southern Flats Zone on the Hercules Property in western Idaho, intersecting 177 metres at 0.66% copper equivalent within a broader interval of 271 metres at 0.51% copper equivalent. The company says HER-25-25 has intersected the margins of a new blind copper porphyry system in the Southern Flats Zone, a separate target from the main Leviathan discovery and one where Hercules holds surface mining rights. The Southern Flats target is supported by a large magnetotelluric 'donut' anomaly identified along trend with Leviathan — described by the company as stronger, broader, and more vertically extensive than the Leviathan conductor. Hercules is running a 20,000 to 30,000-metre 2026 drill campaign at the Property (TSX-V: BIG, OTCQB: BADEF). News Release
Integra Resources has made three senior leadership appointments. Scott Trebilcock joins as Senior Vice President of Corporate Development, bringing extensive M&A experience including a role at Mandalay Resources where he helped execute a $1 billion merger with Alkane Resources. Whitney Buhlin joins as Vice President of Human Resources with nearly 20 years of mining industry experience across all aspects of people strategy and organizational effectiveness. And Josh Serfass joins as Vice President of Business Development and Investor Relations, bringing 14 years of experience in investor relations and corporate development across the mining sector (TSX-V: ITR, NYSE American: ITRG). News Release
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That's it for today everyone. Have a great day. Stay safe.
The information presented should not be considered investment advice. Mining Stock Daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.