Morning Briefing: Stocks Bounce Back, Fury Gold Mines Restarts Drilling After Wildfires

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Michael McCrae filling in for Trevor Hall.

It’s Monday, July 27. 

A pause in military action between the U.S. and Iran are powering stocks higher. Markets have been dragged lower these past two weeks due to worries of escalation. The New York Times reported that President Trump put off plans to ramp up military actions partly due to dwindling stockpiles of interceptor missiles. 

Major indices are all green as of 8 a.m. EST. S&P Futures are up 0.89%, Nasdaq up 1.42%. 

In commodities, gold is up 0.63% to $4.096 while crude oil is down 6.26% to $83.72.

Copper futures are up 0.5% to $6.39. 

In mining headlines, Fury Gold Mines announced Monday it has restarted drilling and exploration at its Eau Claire project in northern Quebec, following a wildfire-related shutdown near the site. 

Sundance Resources says it has prevailed in an International Chamber of Commerce arbitration against Cameroon, with the tribunal ordering roughly $616-million in damages, interest and costs tied to its long-stalled iron-ore project. 

And Indonesia’s leaders are calling for better cooperation amongst government agencies and law enforcement to resolves mineral shipment bottlenecks. 

This episode of Mining Stock Daily is brought to you by... 

Integra Resources.

Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com

Here’s what you need to know today. 

Axo Metals has received approval from Mexico's federal environmental regulator SEMARNAT for the Environmental Impact Statement covering its San Antonio gold project in Sonora, the primary authorization needed to build and operate the mine. The approval covers all existing infrastructure and current resources across the project's deposits, positioning the company for near-term production at the past-producing site. One administrative step remains before mining can begin at the Sapuchi, Golfo de Oro, and California deposits: a Change of Use of Soils approval, which Axo submitted earlier this year and expects before year-end (TSXV:AXO).  News Release

Integra Resources' Florida Canyon mine produced 16,379 ounces of gold in Q2 2026, up 30% from the first quarter on record total material movement, including a 47% increase in ore mined and 45% more ore placed on the heap leach pads. With substantially more ore hitting the pads in the second half, the company expects production to rise in Q3 and Q4 and is maintaining full-year guidance of 70,000 to 75,000 ounces (TSXV: ITR).  News Release

Spanish Mountain Gold reported assay results from ten holes in its 2026 feasibility drill program at the Spanish Mountain project in BC's Cariboo Gold Corridor, highlighted by hole 26-DH-1390's 252.3 metres of 0.82 g/t gold, including 93.5 metres of 1.32 g/t. Roughly 18,500 metres of the planned 60,000-metre program have been completed to date, with results pending for 16 more holes. The company says the results expand mineralization as it works to firm up the resource ahead of a feasibility study (TSX-V: SPA). News Release

Lundin Mining says its Caserones mine in Chile's Atacama Region has been without power since July 18 after a severe winter storm damaged two powerline towers, with repairs and a gradual restart expected to take two to three weeks while backup generators support critical infrastructure. Candelaria was only briefly affected, with the mill running on stockpiles through the storm and mining now back at full capacity (TSX: LUN). News Release

Rock Tech Lithium has signed a binding seven-year offtake agreement with Geneva-based trading house Transamine for spodumene concentrate from its Georgia Lake project in Ontario, covering deliveries starting in 2028 that ramp from 50,000 to 100,000 dry metric tonnes annually, with an option to extend up to five more years. The deal includes a framework for a development prepayment facility of up to US$80 million and preserves Rock Tech's ability to process the material into battery-grade chemicals at its planned Red Rock converter, though volumes and timing remain subject to adjustment following the definitive feasibility study (TSX-V: RCK) . News Release

Troilus Mining's namesake gold-copper project in Quebec has been selected by the province as one of the first to receive support through Filon, a new government service created under Quebec's 2025-2031 critical minerals strategy to coordinate ministries and streamline permitting for strategic mining projects. The program provides a dedicated team of mining specialists to facilitate communication between proponents and permitting agencies while keeping Quebec's environmental review framework intact (TSX: TLG). News Release

NextSource Materials has released a positive updated feasibility study for a Phase 2 expansion of its Molo Graphite Mine in southern Madagascar. The study outlines a staged expansion beyond the current Phase 1 operation to reach total capacity of 150,000 tonnes per annum of flake graphite concentrate over a 37-year mine life. Phase 2 capital costs are estimated at US$290.8 million, financed in stages. The project carries a pre-tax NPV of US$402.5 million at an 8 percent discount rate, with a nominal pre-tax IRR of 21 percent and a real pre-tax IRR of 18.5 percent .(TSX:NEXT)  News Release

Jaguar Mining's initial drilling campaign at the Faina orebody, part of the Turmalina Mine complex in Brazil, intersected multiple high-grade gold zones, including 5.39m at 11.88 g/t and 3.13m at 22.46 g/t gold. The results confirm continuity of mineralization and support Jaguar's strategy to expand resources at Faina, one of four orebodies at Turmalina. Drilling activity has ramped up since Jaguar received permission in March to resume operations at Turmalina, laying the groundwork for a full restart of mining at Faina (TSX:JAG). News Release

Silver Storm Mining has shipped its first concentrates from the La Parrilla silver mine complex in Durango, Mexico, sending 105 dry metric tonnes of lead-silver concentrate and 70 dmt of zinc concentrate under its previously announced offtake prepayment agreement. The milestone marks La Parrilla's return from care and maintenance to revenue-generating production, with the company now working to ramp the sulphide circuit toward its 1,250 tonne-per-day nameplate capacity (TSX.V:SVRS). News Release

Scorpio Gold plans to pursue a Nasdaq listing through an American Depositary Share program, under which a U.S. depositary bank would issue ADSs each representing approximately 20 common shares rather than listing its shares directly (TSXV: SGN). News Release

The Mining Stock Daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice, and at Clear Commodity Network.

That's it for today everyone. Have a great day. Stay safe.