Morning Briefing: Awalé Resources make Board Changes, Arizona Metals Welcome Former Wesdome CEO
Welcome to Mining Stock Daily. I’m Trevor Hall.
Today is Thursday, May 16th.
Yesterday the gold price continued on its path toward $2400, as the price jumped up overnight, endured its customary price attack on the Comex when an important economic report is released, then shot up from $2357 to as high as $2395 before settling at $2391, up $31 from Tuesday. Silver followed a similar price-path as gold, only it outpaced gold on a percentage basis by a factor of 3. Silver launched from its Comex smack-down to $28.77 up to $29.98, before settling at $29.92, up $1.22 from Tuesday. The Mining Stock Journal notes that it's now just a matter of time before gold breaks over $2400 to more all-time highs and silver breaks over $30 for the first time since early 2013. The newsletter presents its analysis for this in today's new issue. The mining stocks Wednesday were higher with the metals. GDX rose a half of a percent and the Arca Gold Bugs index was up 1.12%. You can find out more about the Mining Stock Journal at InvestmentResearchDynamics.com.
We’ll get to the news out of the miners and explorers in just a quick moment, but first a word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by… Victoria Gold
Victoria Gold operates the Eagle Gold Mine within the Dublin Gulch Property. Eagle is the largest gold mine in Yukon's long history of gold production. In addition to the long-life Eagle Gold Mine, the Dublin Gulch property has upsized exploration potential including priority targets Raven and Lynx among others. Follow all the gold production and exploration news at vgcx.com.
And here’s what you need to know this morning….
After great exploration success with their Odienne Project in Côte d'Ivoire and highly critiqued option selling by insiders following those results, Awale resources have made changes to their board. Mr. Robin Birchall and Mr. Derk Hartman will be stepping down from their positions, allowing for Awalé to welcome Mr. Anthony Moreau and Mr. Karl Akueson as new directors. Stephen Stewart will become the Chair of the Board. Anthony is currently the CEO of American Eagle Gold. Karl Akueson co-founded Awalé Resources. (TSXV: ARIC) News Release
And there is more management change news this morning. Arizona Metals announced changes to its team. Duncan Middlemiss, former CEO of Wesdome Gold Mines, will become the new President and CEO of the company. Jacques Perron will immediately assume the role of Chair of the Board, succeeding Paul Reid. Jacques is a seasoned leader in mine development execution and strategic vision, having played pivotal roles at St. Andrew Goldfields, Thompson Creek Metals, and Pretivm Resources. The rationale for the changes is to find a team experienced in mine development. (TSX: AMC) (OTCQX: AZMCF) News Release
Rupert Resources reported new drill results from Ikkari, which were primarily drilled for metallurgical sampling. Turns out, these holes were some of the best intercepts recorded to date. Highlights included 120m at 6.2g/t Au from 45m downhole, 28m at 9.7g/t Au from 101m and included 13m at 34.5g/t Au, while other holes returned 121.2m at 2.5g/t Au and 167.8m at 2.6g/t Au. A project drilling program was initiated at Ikkari during spring 2024 serving multiple purposes: increasing confidence in the ~4Moz Indicated Mineral Resource Estimate, providing additional material for metallurgical test work feeding into future, more advanced engineering studies and providing further geotechnical data for the optimisation of mine planning. (TSX:RUP) News Release
Abitibi Metals announced new results from its maiden drill program a the B26 Polymetallic Deposit. Hole 312 returned 1.31% CuEq over 23.55 metres beginning at 114.15 metres depth, including 5.4% CuEq over 2.75 metres. Hole 313 returned 2.68% CuEq over 25.5 metres beginning at 189.0 metres depth, including 4.82% CuEq over 13.15 metres. These holes infilled the mineralization on the eastern side of the B26 Main Deposit close to the limit of the known deposit, improving on the grades identified in historical drilling. Assays from the eastern extension drilling remain pending. (CSE: AMQ) (OTCQB: AMQFF) News Release
Premium Nickel have new assays out from drilling at the past producing Selebi North underground. Results included 17.55 metres of 3.28% NiEq, which was drilling 400m down plunge of the historic resource, and 28.60 metres of 1.95% NiEq drilling within the historic resource. Three drills are currently active on the 810 metre level exploration drift. The two drill bays located at the southern most extent of the 810 metre level exploration drift allow for the evaluation of areas further down plunge and outside of the known historic resource estimate. The third drill is stationed in the newly completed development located approximately 130 metres east orthogonal to of the main 810 metre level exploration drift, allowing for optimal intersection angles on South Limb and N2 Limb. (TSXV: PNRL) (OTCQX: PNRLF) News Release
Cascadia have commenced drilling News Release. While Snowline has mobilized field crews. News Release
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