Morning Briefing: Alpayana Takes 19.9% Stake in Magna Mining
Good morning and welcome back to the Mining Stock Daily morning briefing. I am Trevor Hall.
It's Monday, July 6 — first trading day back after the Fourth of July long weekend.
Gold is starting the week on the back foot, down about a third of a percent to $4,155 an ounce. Silver is off slightly as well, down four-tenths of a percent to $62.15. Copper is holding near flat, up two-tenths to $6.18 a pound as we come back from the holiday.
Two major copper stories out of the long weekend are setting the tone this morning. First, KGHM — Poland's state-controlled copper and silver producer — unveiled a new decade-long strategy called 'Strategy 2055+,' committing 32 billion zlotys, or $8.55 billion US, in investment through the end of the decade. It includes plans to build an entirely new mine in Poland dubbed 'KGHM 2.0,' with nearly 80% of investment going to the core Polish business and the rest allocated to the Sierra Gorda mine in Chile, the Robinson Mine in Nevada, and assets in Canada.
Separately, BHP has taken the first formal step toward restarting the Cerro Colorado copper mine in Chile's Atacama Desert — a mine that has been shuttered since late 2023 after its water permit was denied following protests by local communities. BHP has filed a new environmental permit application proposing to use desalinated seawater piped over 100 kilometres from the coastal city of Alto Hospicio to the mine site, at a total cost of $1.5 billion, which would keep Cerro Colorado running for 20 years. The two stories together — one the world's largest miner committing $1.5 billion to bring a dead mine back, the other a national copper champion committing $8.5 billion to grow — are a clear statement that the industry's long-term conviction in copper demand is real and accelerating.
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…Integra Resources.
Integra Resources is advancing a portfolio of three gold-silver projects in Nevada and Idaho — the producing Florida Canyon Mine, the Delamar development project, and the Nevada North exploration property. The company is currently running a 50,000-metre drill program, the largest in its history, targeting production growth at Florida Canyon, development drilling at Delamar ahead of an updated feasibility study, and engineering work at Nevada North. Learn more at integraresources.com.
Here's what you need to know today.
Magna Mining has announced a C$140 million non-brokered private placement with Alpayana S.A.C. — a Peruvian mining company with six operating underground mines in Peru and Mexico — which will hold approximately 19.9% of Magna at closing, making it the company's largest shareholder. Net proceeds will be used to advance the past-producing Levack and Crean Hill projects in the Sudbury Basin, with CEO Jason Jessup describing the deal as an opportunity to simultaneously pursue multiple growth opportunities alongside a partner with four decades of continuous production experience in Latin America (TSX: NICU, OTC: MGMNF). News Release
Aldebaran Resources has announced that Centauri Minerals — its majority-owned Argentine spinout — is raising up to C$25 million in subscription receipts ahead of Centauri's planned listing on the TSXV, with C$17 million through a brokered offering led by TD Securities and C$8 million on a non-brokered basis, with proceeds funding exploration at the Rio Grande gold-copper project in Salta Province, Argentina. (TSXV: ALDE, OTCQX: ADBRF). News Release
District Metals has announced a 2,253-line-kilometre helicopter-borne MobileMT survey over the remaining half of its 151,329-hectare Alum Shale Properties in north-central Sweden — building on a July 2025 survey of the first half that identified numerous large conductive anomalies interpreted as potential Viken-style Alum Shale targets. Drilling is already underway at the Österkälen mineral license, where the drill turned on June 24, making this survey the next phase in a systematic program to unlock what the company calls the district-scale potential of one of the world's most energy-metals-rich geological formations (TSXV: DMX, OTCQX: DMXCF). News Release
Bravo Mining has released infill and extensional drill results from the Central Sector of the Luanga PGM-gold-nickel deposit in Brazil's Carajás Mineral Province, with the headline hole DDH26LU312 returning 51 metres at 3.7 grams per tonne combined PGM plus gold and 0.33% nickel — including 23 metres at 5.6 grams per tonne PGM plus gold and 0.44% nickel — while a separate hole, DDH26LU315, returned 6 metres at 13.5 grams per tonne PGM plus gold. The company reports that grades and thicknesses are consistent with or improving at depth as drilling extends the defined mineralization from 200 metres to approaching 300 metres below surface, supporting the potential to upgrade existing inferred resources. (TSXV: BRVO, OTCQX: BRVMF). News Release
Argenta Silver has reported the fifth batch of assay results from its 2025-2026 drilling campaign at the El Quevar Project in Salta, Argentina, with headline hole QVD-469 returning 446 grams per tonne silver over 28.0 metres — including 1,195 grams per tonne silver over 6.0 metres and a bonanza-grade interval of 4,870 grams per tonne silver over 1.0 metre — in a 120-metre step-out to the northwest of the current Yaxtché deposit boundary. The result extends the footprint of a deposit already hosting 45.3 million ounces of indicated silver at 482 grams per tonne, while drilling in the southeast Yaxtché-Carmen corridor is narrowing a 100-metre untested gap between the silver-dominant Yaxtché system and the gold-copper Carmen target, raising the possibility they connect at depth (TSXV: AGAG, OTCQX: AGAGF). News Release
Provenance Gold has released the final assay results from its 2025 core drilling program at the Eldorado West Project in eastern Oregon, with hole EC-09 returning 1.82 grams per tonne gold over 116.74 metres — including 4.70 grams per tonne gold over 25.60 metres and 8.31 grams per tonne gold over 12.34 metres — at the Herman Area, capping a 2,023-metre 2025 campaign that consistently returned broad high-grade intervals across both the Herman and Tyee areas. The company says a fully funded 2026 core drilling program is set to commence later this month, targeting a system that remains open in multiple directions (CSE: PAU, OTCQB: PVGDF). News Release
King Copper Discovery has received approval of its Declaración de Impacto Ambiental — Peru's environmental certification for drilling — authorizing a fully funded 36,010-metre program from 40 platforms across the Colquemayo copper project in southern Peru, where a lithocap extends approximately 12 kilometres in strike within one of the world's most prolific copper belts alongside Cerro Verde, Quellaveco, and Cuajone. Historical drilling returned 237.3 metres at 2.4% copper including 15.15 metres at 27% copper at depth, and the company is targeting both extensions to the high-sulphidation epithermal breccia zones and a copper porphyry system interpreted to lie beneath them (TSXV: KCP, OTCQB: TBXXF). News Release
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That's it for today everyone. Have a great day. Stay safe.
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