Morning Briefing: Markets React to Trump 2.0
Good morning and welcome to the Mining Stock Daily Morning Briefing.
Its Wednesday, November 6.
The metals markets shows stable signs of life yesterday with both gold and silver inching out gains. Gold close at $2749 per ounce, up .13% and silver closed its trading day up a half a percent at 32.77. But as US election results began trickling in to the market the evening hours last night, bond yields, the US Dollar and Bitcoin all moved higher. When it was obvious that Donald Trump would once again become the next president of the United States of America, metals began a hard sell-off, dislocating themselves from the quote-un-quote Trump Trade. This morning, gold futures are down almost 3%, silver down more than 5%, and copper down almost 5%. Also interesting is the relationship between yields and equities. Both are on the rise in a very unique fashion. We will be discussing this in the days to come with some of our guests here on MSD.
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…..
Kenorland Minerals announced results from the 2024 summer exploration program at the Frotet Project in Quebec. Assays from the six drill holes, totaling 3,266m of drilling completed during the program were reported. Results included 3.30m at 26.67 g/t Au incl. 0.60m at 137.30 g/t Au at R6, 5.40m at 7.35 g/t Au incl. 0.75m at 26.80 g/t Au at also at R6, and 6.35m at 9.78 g/t Au incl. 0.40m at 112.70 g/t Au at R4. he updated geologic model indicated potential for structural complexity where the north dipping R1 and R6 mineralised structures are projected to intersect with the south dipping R4 vein sets. The main objective of the 2024 summer drill program was to test the extension of these known vein sets. Kenorland currently holds a 4% net smelter return royalty and is operator of the Project. (TSXV: KLD) (OTCQX: KLDCF) News Release
American Pacific Mining reported assay results from 9 drill holes at the company’s Palmer project in Alaska. The 2024 drilling program was designed to continue testing the extent of the high-grade copper mineralization of the Palmer Deposit South Wall Zone 1 and Zone 2-3 and initial testing of the nearby North Wall Alteration Zone. Results reported today included 18m of 4.4% CuEq, including 6.6m of 7.4% in hole 181. Hole 182 returned 7.2m of 1.8% CuEq and included 2.1m of 8.8%. Hole 186 returned 4.8m of 5.7% CuEq. All assays from the campaign are now received and the team will now remodel the known mineralization and work on an updated mineral resource estimate. The summer drill program was funded by the joint venture partnership between Dowa Metals and American Pacific. (CSE: USGD) (OTCQX: USGDF) News Release
Amex Exploration says they have expanded the mineralized footprint of the Central Polymetallic Zone by 100m beyond its currently defined area. Drilling there returned 134.36 g/t Au over 1.8m. At the High Grade Zone, drilling reutnred 9.6m of 5 g/t Au and included a half meter interval in there with 69.62 g/t Au. This was also outside its known resource area. Amex has also successfully expanded the latest discovery on the Perron Project, the JT Zone. The mineralized dike of the JT Zone has now been defined to approximately 450 m of strike, with a thickness of 60 m, plunging to the east. Results there included 77m of .84 g/t Au. Amex currently has over 5,000 samples waiting for analysis across its range of lab partners but expects this backlog to begin decreasing over the coming weeks. (TSXV: AMX) (OTCQX: AMXEF) News Release
Angus Gold announced assay results from 9 exploration holes completed at the Dorset Zone at the Golden Sky Project in Wawa, Ontario. Drilling was targeting the western extension of the Dorset Gold Zone, where Angus previously intersected a new zone of high-grade gold 500 metres to the west of the historical Dorset resource. Results reported today were step-outs and returned 9.8m of 2.3 g/t Au and 5m of 2.2 g/t. More assays from the summer work remain pending. A fall drill program is underway. (TSX-V: GUS | OTC: ANGVF) News Release
Heliostar Metals announced the closing of the two previously-announced debt facilities for proceeds of US$10M. The facilities were put into place to support the acquisition of the Florida Canyon Gold assets in Mexico. Heliostar has drawn down US$5 million from the Transaction Closing Facility to complete the Acquisition. The full balance of the Working Capital Facility of US$5 million is available to be drawn, as required. (TSXV: HSTR) (OTCQX: HSTXF) News Release
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