Morning Briefing: Perpetua's Stibnite is Approved and Barrick Challenges Continue in Mali
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall
Its Monday, January 6th.
Since this is our first episode of 2025, lets look back on the year that was. The precious metals had a breakout year you might say, with gold finishing the year up 27% from 2023 and silver closing the year up 21%. Copper somewhat underperformed and but showed lots of volatility throughout the year, making a new high but then backtracking itself in price and closing the year up 3.5%. In relation to the general markets, gold beat even the S&P on a percentage basis, as that index was up 23% on the year. The Nasdaq 100 closed the year up 24%.
There is close attention on Canadian politics this week as it is expected that Prime Minister Justin Trudeau will announce his resignation from office. The Canadian dollar spiked on the speculative news. And if we look at Canadian markets, the TSX Venture composite index has reached an interesting point of resistance at 623 after having a couple strong days in the green to start off the new year.
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…..
Friday night it was announced the Biden Administration had issued the Final Record of Decision authorizing Perpetua's mine plan for the Stibnite Gold Project in Idaho. This crucial permitting milestone comes after 8 years of thorough investigation, interagency analysis, consultation, and extensive public feedback on the proposed mine plan of operations. With receipt of the Final ROD, Perpetua Resources is focused on advancing the Project towards a construction decision, including finalizing the remaining federal and state permits and securing project financing. Stibnite is projected to provide more than one billion investment dollars and an average of 550 jobs to rural Idaho during operations while producing from its estimated 4.8 million ounce gold reserve and 148-million-pound antimony reserve, which is expected to supply roughly 35% of the U.S. demand. (Nasdaq: PPTA) (TSX: PPTA) News Release
Vizsla Silver announced results of their updated mineral resource estimate for the Panuco silver-gold project in Sinaloa, Mexico. The combined measured and indicated mineral resource saw a 43% increase from its previous estimate from last year and now sits at 222.4 Moz AgEq. Their inferred mineral resource saw an 18% decrease and now sits at 138.7 Moz AgEq which is mostly due to the conversion to indicated. The Updated Mineral Resource Estimate is centred on the western portion of Panuco, encompassing ~8.6 km of the known 86 km of cumulative vein strike in the district. The Company remains well-funded for its 2025 operational objectives including a fully permitted bulk sample test mine program, updated metallurgical test work, delivery of a Feasibility Study and ongoing discovery-based drilling designed to test high priority targets located in the eastern areas of the district. (NYSE: VZLA) (TSX: VZLA) News Release
Arizona Sonora Copper announced a completed a buyback of 1% of the Bronco Creek Exploration net smelter royalty for a cash payment of $500,000-US… reducing the NSR from 1.5% to a remaining 0.5%. The NSR applies to the Bronco Creek parcel which comprises a portion of the Parks/Salyer deposit on the company’s flagship Cactus Project in Arizona. ASCU trades on the TSX:ASCU | OTCQX:ASCUF - News Release
XXIX Metal Corp. announced drill results from the Saddle Zone of the company’s Opemiska copper project in Quebec. The 3-hole drill program returned 11 metres of 5.3% Cu and 1.20 g/t Au from 81 metres in hole 281. Hole 280 returned two intercepts of more than 10 meters of .35% Cu and .22% Cu. And hole 282 two intercepts of 6 meters at .44% Cu-Eq. The Saddle Zone lies between the past producing Springer and Perry mines and is located within Opemiska's current conceptual open pit. The Opemiska Project is Canada's highest-grade copper resource and spans 13,000 hectares in Quebec's Chapais-Chibougamau region. XXIX Metals trades on the TSXV: XXIX & OTCQB: QCCUF - News Release
Barrick Gold says their operations at the Loulo-Gounkoto mining complex remain handcuffed as its gold shipments remain restricted and an interim attachment order has now been issued against their existing gold stock on site. Barrick’s president and CEO Mark Bristow says the inability to ship gold not only affects operations but has broader implications for the local economy, the 8,000 employees and its many local service providers. If this issue is not resolved within the coming week, Barrick will have no choice but to temporarily suspend operations. (NYSE:GOLD) (TSX:ABX) News Release
Juggernaut Exploration announced results from its 2024 drill campaign at the Kokomo Volcanogenic Hosted Massive Sulphide target on the Midas property in BC’s Golden Triangle. Hole 24-47 intercepted 8.27 g/t AuEq over 11.03 m and remains open to depth. Additional holes returned 3.85m at .52 g/t AuEq, 1m at 1.19 g/t AuEq, and 2m at 1.1g/t AuEq. The company noted that integration of additional assay results will focus future drill plans to expand on this discovery both to depth and on trend to the North, where the high-grade mineralization remains open. Juggernaut trades on the (JUGR.V) (OTCQB: JUGRF) - News Release
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