Morning Briefing: Gold Fields to Acquire Osisko Mining

Welcome to Mining Stock Daily. I’m Trevor Hall.

Today is Monday, August 12th.

Last week gold finished just slightly below the previous week's close after weathering a substantial stock market related rout on Monday. The miners recovered Thursday and finished  the week at $2473. Silver finished the week down 2.8%, but closing at $27.60 in defiance of an effort all week to push the price below $27, September contract basis. The Mining Stock Journal noted that silver is now extremely technically oversold and the chart visually looks potentially explosive to the upside. In addition, based on ex-duty import premiums in India as well as physical gold market  premiums in China and Singapore, it's probable that gold and silver could start a bull move higher earlier than is typical at this point in the seasonal pattern. The mining stocks closed lower for the week but GDX managed to rally back over its 50 day moving average on Friday. The Mining Stock Journal noted that, not only do the mining stock charts look incredibly bullish but they are historically undervalued relative to the price of gold and silver as well as the stock market in general.

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… Vizsla Silver.

Vizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 325,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at ⁠https://vizslasilvercorp.com/⁠

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

Gold Fields has entered into a definitive arrangement agreement to acquire Osisko Mining. The deal is in the form of an all-cash transaction valued at $2.16B on a fully diluted basis. It represents a 55% premium to the 20-day volume weighted average trading price of Osisko Mining.  It is anticipated that the Transaction will be completed in Q4 2024. Upon completion, Gold Fields will take a full interest in the Windfall Project in Quebec. (TSX:OSK) News Release

Dolly Varden Silver shared first results from their Wolf Vein step-out directional drilling. High grade silver mineralization was intersected in a 40 meter southwest step-out, grading 1,091 g/t Ag over 9.38 meters, with base metal grades hitting 1.35% Pb and 1.40% Zn. Approximately 8,000 meters of an ongoing 25,000m drill program at the Company's 100% owned Kitsault Valley Silver and Gold Project is being drilled at the Wolf Vein to expand and infill the plunge of high-grade silver mineralization. (TSXV: DV) (OTCQX: DOLLF) News Release

Western Copper and Gold provided a project update on Casino this morning. The company says they have submitted to the Yukon Environmental and Socio-Economic Assessment Board ("YESAB") Executive Committee an updated and refined schedule for submission of the Environmental and Socio-economic Effects Statement ("ESE Statement") for the Casino Mine Project. The ESE Statement will form the basis for the Company's assessment application for the Panel Review and will include all the material outlined in the Revised ESE Statement Guidelines. Casino indicates that it plans to submit the ESE Statement in or around July 2025, which is an update from the previously estimated submission date of the second half of 2024. (TSX: WRN) (NYSE American: WRN) News Release

West Red Lake Gold Mines reported drill results from its Madsen Mine in Ontario. Today’s results from the the Austin and McVeigh Zones. The purpose of this drilling was definition within priority areas of Austin and McVeigh to continue building an inventory of high-confidence ounces to support the restart of production at the Madsen mine, which is expected to commence in H2 2025. At Austin, drilling returned 2.5m of 107.61 g/t Au and 7m of 5.7 g/t. At McVeigh, drilling returned 2.35m of 106.99 g/t Au and 3.33m of 14.61 g/t. The Company expects to complete a pre-feasibility study in support of that restart goal in the coming months. (TSXV: WRLG) (OTCQB: WRLGF) News Release

I-80 Gold provided results from its underground drilling program at the McCoy-Cove Property in Nevada. The ongoing program continues to intersect high-grade zones of mineralization in the multiple horizons that make up the Cove deposit. Today’s results included 48.3 g/t over 3m, 14.3 g/t over 13.5m and 15.1 g/t over 7.4m.  Cove is one of three deposits being advanced in the Company's "hub and spoke" plan, with Lone Tree as a central processing facility. (TSX: IAU) (NYSE: IAUX) News Release

Vizsla Copper provided an update on targeting activities at its Poplar South target in BC. The company has identified a large and strong alteration zone. The company says they have accelerated their exploration plans for the area with soil geochemistry surveying ongoing and a ground geophysical survey starting shortly. The company expects drilling to begin next year. (TSXV: VCU) (OTCQB: VCUFF) News Release

The Mining Stock Daily morning briefing is produced by Clear Commodity Network and Investment Research Dynamic’s Mining Stock Journal. It is distributed throughout the world through your podcast network of choice, and by our friends at the Junior Mining Network. 

The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.