Morning Briefing: Wesdome and Orezone Announce Commercial Production

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

Today is Thursday December 1st. 

The gold price jumped late Tuesday and continued higher into Wednesday until of course, the Comex opened, when it was hammered down $20 from $1778 to $1758. But then Jerome Powell began running his mouth at a speech hosted by the Brookings Institute. Gold, along with the stock market, shot up $24 dollars on Powell's remarks about monetary policy, running from $1758 to an afternoon settlement of $1782. The yellow dog is trading at $1789 Wednesday evening. Similarly, silver ran from a low of $21.38 early Wednesday morning to $22.39, where it settled in the afternoon. Hi Ho is trading at $22.47 Wednesday evening. The Mining Stock Journal commented that, though Jay Powell's speech contained no new information regarding the Fed's monetary policy, the market once again interpreted the remarks as a de facto pivot. Stay tuned. That said, the newsletter said that the precious metals sector charts look off-the-charts bullish. Speaking of which, the mining stocks jumped along with the rest of the market, with GDX up 3.2%, outperforming both the Dow and the Nasdaq. A table-pounding buy recommendation of the Mining Stock Journal, Viva Gold, has doubled this week. The newsletter will be laying out the case for why Viva Gold has 5-bagger potential from yesterday's close in the latest issue of the Mining Stock Journal, released to subscribers this afternoon.

We will get to the news from the miners and explorers in a moment, but first a word about today’s sponsor.

This episode of Mining Stock Daily is brought to you by…Western Copper and Gold. 

Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 11 billion pounds of copper and 21 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.

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

Vizsla Silver reported results from seven new drillholes targeting the southern extension of the Napoleon Vein at its flagship Panuco silver-gold project in Mexico. The new drill results are centered on the western portion of the district and are a part of Vizsla's ongoing 120,000 metre resource expansion/discovery-focused drill program. Highlights today include 2,305 g/t silver equivalent over 1.55m, 446 g/t over 6.7m and 696 g/t over 1.5m. These results serve to 1) further demonstrate the continuity of high-grade silver and gold mineralization along the southern extent of the main Napoleon Vein, outside of the March 2022 mineral resource boundary and, 2) support ongoing exploration potential of the hanging wall and footwall vein splays. Vizsla has completed structural and 3D geologic modelling of the vein splays and plans to further drill step-out holes specifically designed to test mineral continuity along strike and to depth. Vizsla Silver trades on the NYSE and the TSXV with VZLA. News Release

Wesdome Gold Mines announced commercial production has been achieved at the Company’s Kiena mine in Val d’Or, Quebec. The commissioning of the paste fill plant has progressed well in November, with an underground test pour successfully completed on November 17th. Demonstrating the viability of the paste fill plant was the final element for Kiena to meet its commercial production criteria. Since 2017, the Company has invested approximately $250 million into Kiena, including exploration, development, studies, and infrastructure, primarily financed from free cash flow generated from the Eagle River mine. Wesdome trades on the TSX with WDO. News Release

NexGen says it has received the Federal technical and public review comments and Provincial technical review comments on the Rook I draft Environmental Impact Statement. Receipt of the Federal review comments follows successful completion of the 90-day Federal public review period that ended on October 12th. Provincial technical review comments were received in September 2022. Further, as part of the integrated Federal Environmental Assessment ("EA") and licensing process that commenced for the Project in 2019, NexGen has scheduled submission of the remaining final, complete licence application documents to the Canadian Nuclear Safety Commission in December 2022. These remaining documents build on the final, complete aspects of the licence application package. NexGen trades on the TSX and the NYSE with NXE. News Release

Blackrock Silver says it has completed a small exploration drill program on its Silver Cloud project located along the prolific Northern Nevada Rift in north-central Nevada. The Company completed three core holes totalling 1,447 metres (4,746 ft) in two target areas on the Silver Cloud project. Two core holes totalling 927 metres were completed adjacent to the Silver Cloud mine target and one core hole at Northwest Canyon. Blackrock Silver trades on the TSXV with BRC. News Release

Idaho Strategic Resources announced it has increased their land holdings within the Idaho Rare Earth Element-Thorium Belt to over 11,000 acres, thus solidifying its place as the 2nd largest Rare Earth Element (REE) land-holding Company in the U.S., according to the company. The company increased their land position at both Lemhi Pass and at the Roberts Project in the Mineral Hill District. Early-day Cold War prospectors helped define the Idaho REE-Th Belt through participation in a nation-wide energy search for both uranium and thorium which was overseen by the Atomic Energy Commission, Department of Energy (DOE), Department of Defense (DOD) and others. Idaho Strategic Resources trades on the NYSE American with IDR. News Release

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