Morning Briefing: Alphamin Reports Record Quarterly Production and a Doubling of its Dividend

Good morning and welcome to the Mining Stock Daily Morning Briefing. 

Today is Thursday, October 3rd… 

After selling off Tuesday evening, gold experienced two-way volatility yesterday, trading as high as $2684 and as low as $2662 before settling in the afternoon at $2680, down $4 from Tuesday. The Mining Stock Journal noted that a 0.45% move higher in the dollar likely was the factor that pushed gold lower. Silver was pushed down $31.25 late Tuesday evening but then took off early Wednesday morning. It shot up when the Comex opened but then Roman Candled back down $31.76 before an afternoon bounce took it to an afternoon settlement of $32.10, up 37 cents from Tuesday. 

The mining stocks were slightly lower yesterday, with GDX falling 0.20%, though some of the junior microcaps saw strong buy-volume with a handful of the Mining Stock Journal recommendations up double-digits percentage-wise.

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…Minera Alamos

Minera Alamos is a gold developer and producer with its first low capex mine, Santana, continuing to work through start-up development. The company is also advancing the Cerro de Oro project through the permitting process. Minera is built around its operating team which brought 4 mines into production in Mexico over the last 13 years. It is fully funded with over $20-million dollars in working capital. Learn more at mineraalamos.com. 

And Here’s what you need to know this morning…..

Collective Mining announced results from recent cyanidation tests conducted on representative samples from both shallow and deeper areas of its Apollo system at the Guayabales Project in Caldas, Colombia. The test results have yielded an average gold dissolution of 94.3% from seven new variability samples and confirm and corroborate previously announced cyanidation gold recoveries (see press release dated October 17, 2023). Furthermore, optimization test work on a flotation concentrate returned substantial improvements in recoveries for gold and silver over those previously reported in April. Based on previous work completed, the Company envisions a conventional split circuit for processing material from Apollo with the copper rich stream (more than 0.15% copper) being treated through a flotation circuit and the copper poor stream (less than 0.15% copper) being treated through a precious metal focused cyanidation circuit to produce doré. The Company also now expects that a gravity circuit will be included after flotation for recovery of the high-grade tungsten mineralization. (NYSE: CNL) (TSX: CNL) News Release

Clean Air Metal published additional drill results from the Current deposit on its Thunder Bay North Critical Mineral Project. Highlights included 50.7 m of 4.52 g/t Pt, 4.38 g/t Pd, 0.99% Cu and 0.53% Ni in hole 10,  and 38.4 m of 3.38g/t Pt, 3.26g/t Pd, 0.72% Cu and 0.45% Ni in from hole 5. The company says they believe the tonnage of the highest=grade part of the Current deposit is likely underestimated by the most recent resource model, largely in part of inadequate drill density in the area. These new results, in conjunction with the initial assays (see September 9th release), confirm that high-grade mineralization in the areas targeted extends beyond what was outlined in the most recent resource model. (TSXV:AIR) (OTCQB:CLRMF) News Release

Lifezone Metals announced the signing of a memorandum of understanding with Japan Organization for Metals and Energy Security (JOGMEC). This strategic partnership aims to support JOGMEC’s efforts to secure cleaner metals from the Kabanga Nickel Project for the Japanese battery industry. Under the terms of the MOU, Lifezone will collaborate with JOGMEC to facilitate the supply of metals from Kabanga, through Lifezone’s portion of marketing rights, for Japan’s growing battery market, ensuring a sustainable and traceable metals value chain. The MOU is non-binding and imposes no obligations on either party. (NYSE: LZM) News Release 

Class 1 Nickel and Technologies published an updated mineral resource estimate for the Dundonald South Nickel Deposit, which is one of 4 nickel deposits within the Alex-Dundonald Nickel Sulphide Project near Timmins, Ontario. The pit-constrained indicated resource now sits at 2.54 Mt at 0.49% Ni for 27.4 Mlbs Ni. Thats a 781% increase in Indicated tonnes and 474% increase in nickel pounds, Since its 2020 resource estimate. Like the other 3 nickel deposits within the Project, the Dundonald South Deposit is open along strike and at depth, with new geological modeling and interpretation providing ample targets for next-stage drilling. (CSE: NICO | OTCQB: NICLF) News Release

Gladiator Metals published new drill results from the Cowley Park Prospect on the Whitehorse Copper Belt in Yukon. Assay results were received for four shallow holes and returned 8m of 2.57% Cu and .15% Mo and 30m of 1.48% Cu and .13% Mo. Copper and molybdenum mineralization at Cowley Park remains open along strike and down dip in all directions. This drilling is part of Gladiators dual strategy of advancing Cowley Park towards resource definition and targeting the upside potential of the known mineralization. (TSXV: GLAD) (OTCQB: GDTRF) News Release

Alphamin Resources announced the declaration of an interim dividend of $.06 per share. Thats double the previous dividend. The company announced record quarterly tin production of 4,917 tonnes, thats up 22% from the prior quarter. This increase is a result of the Mpama South expansion contributing for a full quarter compared to half of the prior quarter. Ore processed increased by 37% to 229,107 tonnes and the tin grade of the feed ore reduced to 2.9%. This is in line with expectations as the Company targets annual processing volumes of 900,000 tonnes of ore at a tin grade of ~3%, producing approximately 20,000 tonnes of contained tin per year. Both processing facilities performed well during the quarter and achieved an overall plant recovery of 73.4%, in line with expectations. (AFM:TSXV) News Release

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