Morning Briefing: President Trump Orders Probe into Potential Tariffs on Copper Imports
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
It's Wednesday, February 26th.
It was very much a risk off day in mostly all categories of the market yesterday, with the exception of the US Bond Market. Gold April contract did fall through the cracks at $2,900 for a bit but then found a bounce and settled at $2,918, that was a 1.5% loss on the day. It continues to work off the technicals of being overbought and it will take some time to do that after such a large move to begin the year. Silver lost 2.3% and settled the day at 31.82, which potentially did more technical damage to its recent trend. It will be worth watching silver to see if it can establish upward momentum here and in short order. The copper price had a sudden thrust yesterday after President Trump ordered a probe into potential new tariffs on copper imports into the U.S. The administration cited security grounds as basis for the potential move.
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 375,000 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…..
Radisson Mining published additional assay results out of the O’Brien Gold Project in the Abitibi region of Québec. The seventeen drill holes reported were completed as part of the 35,000 metre, 2024 drill program designed to increase the scope of gold mineralization at the Project with a combination of deep and shallow drill holes. Results included 8.36 g/t Au over 15m, 10.32 g/t Au over 4.1m and 46.4 g/t over 1m. Today's results represent shallower drilling at the margins, or within, the existing Mineral Resource over the Project's "Trends 1, 2 and 3". (TSXV: RDS) (OTCQB: RMRDF) News Release
West Red Lake Gold released drill results out of the South Austin Zone within the Madsen Mine in Ontario. The results were follow-up holes and used to define and expand the zone to build an inventory of high-confidence ounces to support the restart of production at Madsen. Today’s results were highlighted with 10.6m of 114.26 g/t Au, 3m of 77.9 g/t and 8.5m of 24.48 g/t Au. The current underground drilling program at the Madsen Mine is focused on further definition of near-term mining inventory, as well as growth of the current mineral resource. The company also closed an upsized $20M bought deal public offering yesterday. (TSXV: WRLG) (OTCQB: WRLGF) News Release
Libero Copper and Gold reported drill results form the company’s third diamond drill hole at Mocoa. Results from hole 45 were 1,166m of .46% CuEq starting form surface to the end of the hole and included 101m of .76% CuEq and 50m of 1.02%. The hole confirmed a vertical depth exceeding 1,000m within the late-stage western brecciation zone which remains open. These integrated results refine and expand the geological model, significantly de-risking further exploration. With upgraded infrastructure and logistics in place, the findings support an accelerated drilling program that will cost-effectively potentially expand the Mocoa resource base. (TSXV: LBC) (OTCQB: LBCMF) News Release
Sun Summit Minerals released its inaugural mineral resource estimate for the Buck Project in British Columbia. Indicated resources at buck are estimated to included just over 19,000 gold equivalent ounces while inferred is estimated to include 820,400 ounces. The near-surface Mineral Resource at Buck Main is constrained within an optimized open-pit shell using a 0.25 g/t AuEq cutoff. Sun Summit has efficiently delineated the Buck Main deposit with a total drilling cost of approximately CAD$18 per AuEq ounce included in the MRE. Since 2020, the Company has completed 98 drill holes at Buck Main, totaling over 36,400 meters. (TSXV: SMN) (OTCQB: SMREF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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