Morning Briefing: Barrick Temporarily Suspends Operations in Mali
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall
Its Tuesday, January 14th.
Gold prices fell yesterday as the U.S. Dollar continued its wrecking ball rally to a two-year high after a robust jobs report last week. The front month futures contract on gold fell 1.34% yesterday, closing at $2,678 per ounce. Silver also took the elevator down yesterday, dropping more than 3.2% and closing the day at $30.31 per ounce. Copper has seen a bit of a rally over the past two weeks but is meeting some resistance around $4.30 per pound. Its been widely known that traders in the US have been shipping copper to the United States and depositing those in warehouses registered with the CME. This is an attempt to prepare for any tariffs once Donald Trump takes office in less than a weeks time now.
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…Arizona Sonoran Copper.
Arizona Sonoran Copper Company (ASCU:TSX) is focused on developing its brownfield copper project on private land in Arizona. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport. Grid power and the Union Pacific Rail line situated at the base of the Cactus Project main road. With permitted water access, a streamlined permitting framework and infrastructure already in place, ASCU's Cactus Mine Project is a lower risk copper development project in the infrastructure-rich heartland of Arizona.For more information, please visit www.arizonasonoran.com.
And here’s what you need to know this morning…..
Barrick Gold has initiated the temporary suspension of operations at the Loulo-Gounkoto mining complex in Mali. The company says they remain restricted from shipping gold from the mine site and an interim attachment order on the gold has now been executed by the Malian government by moving the existing gold stock from the site to a custodial bank, further preventing the shipment and sale of the gold. Barrick says they remain committed to a constructive dialogue with the Malian government for find an amicable solution. (NYSE:GOLD) (TSX:ABX) News Release
Newcore Gold announced additional drill results from the 10,000-metre drill program underway at the Company's 100% owned Enchi Gold Project in Ghana. The RC rill results today come from the Boin gold deposit and included .97 g/t Au over 96m from a depth of 100m and included 10m of 2 g/t in hole 316. Hole 317 returned 1.06 g/t Au over 81m and included a 17m interval of 2.5 g/t. The results of this recent drilling should allow for conversion of a substantial portion of mineralization within this area to the Indicated category. (TSX-V: NCAU, OTCQX: NCAUF) News Release
Sticking with Ghana, Asante Gold announced the completion of the Definitive Feasibility Study for the extension of the Bibiani Mine through underground operations. The report highlights mining of 11.93Mt or ore at a grade of 2.36 g/t Au. The economics of the expansion show a post-tax NPV of $516M with an IRR of 71%. Its all-in sustaining Cost per ounce is estimated to be $1,035. Underground operations at Bibiani will is expected to commence late this year. (CSE:ASE, OTC:ASGOF) News Release
American Eagle Gold announced new drill results from the NAK project which expands the South Zone with a results of 248m of 1.1% CuEq within a broader zone of 407m of .78% CuEq. The zone remains open to depth and to the south and southeast. At the North Zone, drilling returned 414 metres of 0.42% CuEq within a broader interval of 911 metres grading 0.33% CuEq beginning 11 metres downhole. This whole represented a new style of mineralization, with high tenor sulphide species hosted almost entirely within intrusive bodies, according to the company. (TSXV: AE) (OTCQB: AMEGF) News Release
Freegold Ventures announced additional assay results from its 2024 drilling program. Highlights today included 157 g/t Au over 3 meters from a depth of 299 m, 1.88 g/t over 54.2m and 1.58 g/t au over 60m form a depth of 743m, all coming form hole 422. Hole17 returned 1.25 g/t Au over 56.5m and 196.5 g/t Au over 1.7m from a depth of 298.5m. A total of 41 holes were completed, totalling 25,708 meters. The program's primary objectives were to expand mineralization to the west and to support further metallurgical testing. (TSX: FVL) (OTCQX: FGOVF) News Release
Brixton Metals announced its results of its regional prospecting-soil sampling program and from its 2024 season at the Thorn Project. Rock grab and chip samples of porphyry style stockwork veins from Catalyst porphyry target returned up to 0.56% copper, 2.87 g/t gold, and 30.0 g/t silver. Rock sampling from the main Sentinel porphyry target area generated results of up to 1.54% copper, 0.54% molybdenum, 0.2 g/t gold and 21.7 g/t silver. There were other positive sampling results from the Calibre Target, the Plum Target and the Misty Target. (TSX-V: BBB, OTCQB: BBBXF) News Release
Calibre Mining published its 2024 Responsible Gold Mining Principles Conformance Report. This achievement marks the Company’s fourth consecutive year of compliance with the World Gold Council’s RGMPs, reflecting Calibre’s ongoing commitment to sustainability, transparency, and ethical mining practices. News Release
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