Morning Briefing: USA Rare Earth announces $2.8B acquisition, Q2 Metals files inuagral MRE

Good morning and welcome back to the Mining Stock Daily morning briefing. This is Michael McCrae filling in for Trevor Hall this week.

It's Tuesday, April 21.

Markets are still expecting that some solution will come from the U.S.-Iran war. The earning season is upon us with Tesla, Boeing and Intel all reporting this week. Wall Street is expecting good results, which should buoy markets.  S&P and NASDAQ futures are up 0.3% and 0.36%. Gold opened down 0.4%. Crude oil is up 0.10%. Bitcoin has gathered some momentum, up 7% in the last month. 

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 is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 375,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at ⁠https://vizslasilvercorp.com/⁠

And here's what you need to know this morning…..

USA Rare Earth has signed a definitive agreement to acquire the Serra Verde Group for approximately $2.8 billion, a deal that includes 100% ownership of the Pela Ema rare earth mine in Brazil. Backed by U.S. government financing and offtake agreements, the combined company said it will generate approximately $1.8 billion in annual EBITDA by 2030 through a fully integrated supply chain (Nasdaq: USAR). News Release

Q2 Metals has announced its inaugural Inferred Mineral Resource Estimate for the Cisco Lithium Project in Quebec, totaling 295 million tonnes at an average grade of 1.36% Li2O. The company said that the substantial resource includes 270 million tonnes of pit-constrained mineralization and an additional 24 million tonnes identified for underground mining, positioning the project among the top hard-rock lithium assets globally. The estimate remains open for expansion in all directions, with further upside supported by a proximal exploration target of 44 to 67 million tonnes. Mining Stock Daily will be interviewing CEO Alicia Milne this week. Q2 Metals is up 11% in the past five days. (TSX.V: QTWO). News Release

Denarius Metals has increased its all-share takeover proposal for Emerita Resources to CA$0.45 per share — valuing Emerita at approximately CA$133.5 million and representing a roughly 73% premium to Emerita's closing price on April 10, 2026, following an Ontario Securities Commission enforcement proceeding against Emerita. The strategic rationale centres on combining Denarius's existing Spanish production and infrastructure with Emerita's adjacent Iberian Pyrite Belt assets, with Denarius stating it is ready to engage promptly with Emerita's board to finalize a definitive agreement (Cboe CA: DMET). News Release

Andina Copper has reported results from drillhole CDH007 at its Cobrasco Project in Chocó, Colombia, intersecting 292 metres at 0.48% copper, 62ppm molybdenum, and 1.7 g/t silver from 44 metres depth, further extending the Cobrasco Central Cu-Mo porphyry system to the northwest. Combined with the previously reported CDH006 result of 232 metres at 0.68% copper from 38 metres, the drillhole-defined mineralized footprint now measures approximately 1,000 by 500 metres, remains open in all directions, and every hole drilled to date has returned significant porphyry Cu-Mo intercepts from surface or near-surface to depths of around 600 metres. Two additional step-out holes (CDH008 and CDH009) have been drilled from the same pad with assays pending, and the company is preparing to mobilize a second drill rig to both test further targets and begin delineating the high-grade intervals identified across the system (TSXV: ANDC). News Release

Fortune Bay Corp. has reported significant high-grade gold results from its 100% owned Goldfields Gold Project in Saskatchewan, highlighted by an intercept of 9.9 g/t gold over 7.0 metres. This intersection was found within a broader interval of 3.7 g/t gold over 21.0 metres in drill hole B26-350, which represents the largest "step-out" hole drilled at the Box Deposit to date. The company said that the results confirm that mineralization extends approximately 140 metres outside the current resource estimate and remains open at depth, suggesting substantial potential for resource growth. Management noted that these findings reinforce the view that the Goldfields Syncline hosts a much larger gold system than previously defined (TSXV: FOR). News Release

Magna Mining reported Q4 results today. Production reached 5.0 million copper equivalent payable pounds in Q4, driven by improved ore grades and significant precious metals byproduct production. Cash costs came in at US$3.08/lb CuEq and AISC at US$3.49/lb for the quarter — materially better than the full-year averages of US$3.72/lb and US$4.47/lb respectively — allowing the mine to achieve a positive cash margin of $3.3 million in Q4. The company ended the year with $55.9 million in cash and cash equivalents, after investing $8.2 million in exploration and evaluation at the Levack and Crean Hill projects, with studies on both scheduled for completion in Q3 2026. Full-year revenue was $58.8 million, though the company recorded a net loss of $17 million for the year. Looking ahead, management has reiterated its 2026 operational guidance and is evaluating a potential restart of nickel-rich mining at the Intermain deposit (TSXV: NICU). News Release

Talisker Resources has expanded its diamond drill program at the Bralorne Gold Project from 30,000 metres to 105,000 metres, comprising 83,000 metres of resource conversion drilling across the Mustang, Bralorne West, and Olympus areas, and 22,000 metres of exploration drilling at Congress and Pioneer Deeps. The bulk of the resource conversion work is aimed at extending and de-risking stopes in areas actively being mined or scheduled for production through 2028, while the Olympus drilling is intended to support the mine plan for a planned second mine. The Congress drilling, located 15 kilometres north of the main Bralorne camp, will be the first conducted by Talisker at that target and will test extensions to the historic resource there (TSX: TSK). News Release

1911 Gold has appointed Max Satel as CFO, replacing Carmen Amezquita who will remain during the transition, with Satel taking responsibility for the company's accounting, financial planning, treasury, and strategic finance functions. Satel brings 23 years of resource sector and capital markets experience, most recently as CFO of Battery Mineral Resources where he led an underground mine restart, and has raised over C$1.2 billion in capital across various financing structures throughout his career (TSXV: AUMB). 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.