Morning Briefing: Skeena Resources receives permits
Good morning and welcome back to the Mining Stock Daily morning briefing. I am not Trevor Hall. I am Michael McCrae, hosting for Trevor who is at the AME Roundup.
It’s Wednesday, January 28.
Gold continues its march. The metal traded reached a high of $5,345 this morning. Gold has gained 22% this year. Silver has been bumping along at the $110 to $115 range. Copper futures are still trying to get above $6. S&P is green. Today the Fed releases its interest rate decision. President Trump has been pressuring Fed chair Jerome Powell to lower rates. However, policymakers expect the Fed to stay pat. A successor to Powell is expected to be announced soon. Powell’s term ends in May.
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… 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…..
Skeena Resources has received its British Columbia Mines Act permit for the 100%-owned Eskay Creek gold-silver project in northwestern B.C., marking a major regulatory milestone and building on the province’s first Section 7 Declaration Act agreement with the Tahltan Central Government. The Mines Act permit is part of a joint application with the Environmental Management Act, which remains under review and is expected to be granted in February, completing the final key approvals needed for commercial development. With permitting nearing completion, Skeena expects to advance Eskay Creek toward initial production in the second quarter of 2027. (TSX: SKE) News release
Crypto heavyweight Tether Holdings has emerged as a significant new player in the gold market, quietly amassing large quantities of physical metal over the past year, according to reports by Reuters. The stablecoin issuer now holds approximately 140 tonnes of gold, according to CEO Paolo Ardoino. Speaking with Bloomberg, Ardoino said Tether intends to further expand its gold holdings and leverage the profits generated from bullion trading, positioning the company to compete directly with traditional banks in the physical gold market. Tether Limited is the company behind the USDT (Tether) stablecoin, the largest cryptocurrency stablecoin by market cap (over $186 billion). Last year Tether made investments in mid tier royalty companies Elemental Altus Royalties and Gold Royalty.
Scottie Resources reported strong new drill results from its 2025 program at the Blueberry Contact Zone within the Scottie Gold Mine Project, located north of Stewart, B.C., highlighting the continuity and strength of high-grade gold mineralization. Recent assays included 34.3 g/t gold over 3.30 metres with a 90.8 g/t gold sub-interval, and 9.97 g/t gold over 9.70 metres from separate vein zones, underscoring effective targeting and near-surface potential. Of the 27,000 metres drilled in 2025, only about 16,000 metres have been reported so far. (TSXV: SCOT) News release
K2 Gold announced a non-brokered private placement to raise up to C$15 million through the issuance of up to 21.4 million common shares at C$0.70 per share. Proceeds are intended to fund exploration at the Mojave and Si2 projects, as well as general corporate purposes..(TSXV: KTO) News release
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That’s it for today everyone. Have a great day. Stay safe.
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