Morning Briefing: AngloGold to Acquire Crown and Sterling from Coeur

Welcome to Mining Stock Daily. I’m Trevor Hall. And I’m Paul Harris.

Today is Monday, September 19th

Last week the gold price knifed down to its lowest level since early April 2020 but managed to bounce on Friday and close at $1683, which is a support level for the last 2 1/2 years. Silver, which continues to outperform gold, rose nearly $1 last week. The Mining Stock Journal reminds us that the action in both gold and silver is being dictated by the paper derivatives gold and silver markets in New York and London. In fact, last week based on premiums reported from India, there was a considerable amount of physical gold that was imported into India all week. The gold/silver ratio fell further last week, as various market signals coming from the physical silver market as well as the high short-interest in the SLV silver ETF suggest that the availability of physical silver on the global market is getting tight. The mining stocks largely followed the gold price lower last week, though some individual stocks, like New Gold and Sandstorm Gold rose for the week. GDX tested its low from the end of August at 23 and bounced to close at $24 on Friday. The Mining Stock Journal said that sentiment toward the mining stocks per the Hulbert Gold Newsletter Sentiment Index continues to show highly negative sentiment toward the sector. This could prove to be bullish as a contrarian indicator. The newsletter added that it continues to believe that the sector is setting up for a nice move this fall.

We will get to the news from the miners and explorers in a moment, but first a word about today’s sponsor.

This episode of Mining Stock Daily is brought to you by…Western Copper and Gold

Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.

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

Coeur Mining announced today it has entered into an agreement with AngloGold Ashanti to sell its Crown and Sterling holdings for closing cash consideration of $150 million and deferred cash consideration of $50 million to be paid upon Crown Sterling attaining a total resource of at least 3.5 million gold ounces. The Crown Sterling holdings comprise approximately 35,500 net acres and are located adjacent to AngloGold’s existing gold projects in Beatty County, Nevada. News Release

Tempus Resources announced assay results from the Elizabeth Gold Project in Southern BC. Results from seven drill holes were received from the 2022 campaign and included 310.72 g/t gold over 1 m from a 105m depth, which also included .2 meters of 1,572 g/t gold in hole 9. All seven drill-holes intersected Blue Vein gold mineralisation multiple times demonstrating potential for multiple stacked high-grade vein mineralisation within the wider Blue Vein structure. These holes also confirm the known high and ‘bonanza' grades for Blue Vein along a strike length of 100 metres, comparing very favourably to the strike extent of the high-grade chutes on Southwest Vein of approximately 80 metres combined, which contained almost 70% of the historical mineral resource for Elizabeth. 30 drill-holes have been completed in this program since drilling commenced in late-May, with 20 holes currently pending assay. Tempus Resources trades on the TSXV with TMRR and on the OTC with TMRFF. News Release

QC Copper and Gold reported results of 23 holes from the Opemiska conceptual open pit. These new assay results are in the Starter Pit and Saddle Zone area on the Opemiska Copper-Gold Property.  Results included 0.44% Cu and 0.11 gpt Au over 58.5m, 0.62% Cu and 0.23 gpt Au over 54.0m from the Starter Pit Area. At the Saddle Zone, drilling returned 0.78% Cu and 0.14 gpt Au over 22.5m. QC Copper and Gold trade on the TSXV with QCCU and on the OTCQB with QCCUF. News Release

Rupert Resources says drilling has begun for its 2022-2023 exploration program at the Ikkari gold discovery at the Rupert Lapland project in Northern Finland. The 2022/2023 work program, as of August 2022, is planned to include 72,800m of drilling. Around 30,000m will be allocated to Ikkari infill and project drilling with the balance divided equally between Ikkari extension and satellites; and regional exploration across Rupert’s 634km2 land position targeting additional discoveries of scale. Rupert is particularly focused on near-term resource additions over the upcoming winter drilling season to ensure these can be included in future economic and environmental assessments and the eventual permitting application for the Project. There are a couple assay results out from this campaign already. Those include 32.5m of 2.2g/t Au from 571m in a step-out extension. Infill drilling has also returned 34.2m of 7.1g/t Au from 99.8m and 27m of 4.3g/t Au from 143m. A key milestone for Rupert will be the completion of a preliminary economic assessment (PEA) planned for Q4 2022. Rupert Resources trades on the TSXV with RUP. News Release

Cordoba Minerals reported  assay results from the eight additional diamond drill holes completed at the 100%-owned San Matias Copper-Gold-Silver Project. Significant assays returned from the eight additional drill holes include 106.2 metres ("m") with 0.85% copper ("Cu"), 0.55 g/t gold ("Au") and 6.14 g/t silver, or a 1.16% copper equivalent. Within that interval, there was 30.48 m of 2.43%CuEq and 5.9m of 7.64% CuEq. The company noted Additional late-mineral gold-copper veins, known as Carbonate Base Metal (CBM) veins, have shown correlations in their continuity and grade, and are being investigated further. Cordoba Minerals trades on the TSXV with CDB and on the OTCQB with CDBMF. News Release

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