Morning Briefing: Franco-Nevada Enters into a Stream Agreement with Sibanye-Stillwater
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall
Its Thursday, December 19th.
It was a volatile day in all markets yesterday after the Federal Reserve served up with Hawkish Cut of 25 basis points yesterday, just before the Holidays. Powell said the policymakers want to see more progress on bringing inflation down as they consider what to do in the new year. Everything was hit, including the precious metals complex, which was showing signs of weakness well before the FOMC announcement. Spot gold closed the day down more than 2% and closed the trading day at $2,589 per ounce. Silver outpaced the losses with a 3.5% loss to $29.45 per ounce on its spot price. The US dollar per the DXY continued its carnage, reaching a two year peak, putting pressure on just about everything in global markets, not just the metals.
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. Recently, Minera announced the proposed acquisition of Sabre Gold Mines which owns the planned 40,000 oz/y Copperstone gold mine in Arizona. Minera is built around its operating team which brought 4 mines into production in Mexico over the last 13 years. Learn more at mineraalamos.com.
And Here’s what you need to know this morning…..
Snowline Gold provided additional drill results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada's Yukon Territory. Results reported today included 351.6m of 1.19 g/t au from hole 99 which is close to the highest-grade core f the Valley System. Hole 104 returned 393.4m of 1.03 g/t Au while hole 103 returned 355.5m of .93 g/t Au. The Company still awaits analytical results from >11,600 m of drilling in 29 holes across three different targets. (TSX-V:SGD) (OTCQB:SNWGF) News Release
Franco-Nevada has entered into a precious metals steam from Sibanye-Stillwater’s Marikana, Rustenburg and Kroondal mining operations located on the Western Limb of the Bushveld Complex in South Africa. The Stream is primarily comprised of a gold component for the life of mine and a platinum component for approximately 25 years supporting a more stable gold equivalent ounce delivery profile to FNB over this period. The Stream Area assets have a mine life up to 2070 including ore Reserves and Replacement Projects, based on current projections. Sibanye-Stillwater has the potential to sustain higher production levels for longer. Sibanye-Stillwater's Western Limb operations currently produce approximately 15% of the world's platinum supply4. In addition, they produce palladium, rhodium and gold as primary 4E PGM components and a significant amount of chrome and other by-products, including approximately 28% of current global iridium and ruthenium supply. (TSX: FNV) (NYSE: FNV) News Release
Li-FT Power has entered into a definitive agreement with North Arrow Minerals to acquire a 100% in the Mackay Lithium Project in the Northwest Territories of Canada. Under the terms of the agreement, LIFT will acquire all rights, title, and interest in the, DeStaffany, LDG and Mackay Lithium Projects in exchange for an issuance of 250,000 common shares of LIFT to North Arrow Minerals. The agreement also includes provisions for the transfer of associated reclamation bonds, ensuring responsible environmental stewardship as these projects are developed. (TSXV:LIFT) (OTCQX:LIFFF) News Release
CopperCorp announced assay results from the Jukes prospect on the Razorback copper-gold-REE property in western Tasmania. Results included 50m of .66% Cu and .27 g/t Au from a depth of 498m. Historical gradient array Induced Polarization ("IP") survey data over Jukes indicates a strong IP chargeability response associated with known surface geochemistry extending over a +700m undrilled strike length. (TSXV: CPER) (OTCQB: CPCPF) News Release
Mandalay Resources have discovered a new gold domain 200m north of the current operations at Björkdal in Sweden. Intercepts included 178.9 g/t Au over 1.15m and 69.4 g/t over .8m. maiden Mineral Resource estimate expected in Mandalay's year-end update which is anticipated to be published in February. (TSX: MND) (OTCQB: MNDJF) News Release
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