Morning Briefing: Cartier Resources Publish Update PEA for Cadillac

SPEAKER_1 (0:02)

Good morning, and welcome back to the Mining Stock Daily Morning Briefing, presented by the Clear Commodity Network, and delivering today's top news in mining and mineral exploration. From the new Clearcom Studios, here's your host, Trevor Hall.

Trevor Hall (0:18)

Good morning, everybody. Welcome back to the Mining Stock Daily Morning Briefing this Thursday, September 17th, the last before we head into the Beaver Creek Precious Metals Summit all week next week, where we have a lot of meetings scheduled and a lot of interviews to bring here away, so stay tuned for that.

But metals are having a strong morning today after the Federal Reserve raised rates by 25 basis points. Gold's up 1.4% to 4,323 an ounce. Silver's up higher, about 1.35% to 6409

Copper's adding 1.4%, trading at $6.52. And on the energy side, crude oil is lower, with Brent down over 2% to 103 a barrel, WTI off 1.5% to just about $100 a barrel.

That resilience in precious metals after a rate hike is incredibly notable. The market keeps telling the same story this cycle. Investors are pricing in not the rate itself, but what it is responding to, which is persistent inflation. As long as real rates stay negative, or barely positive, gold and silver have a fundamental case, then that case does not go away simply because the Fed keeps tightening. There's also a structural angle worth thinking about, with approximately $7 trillion in short-term treasury bills outstanding, and the treasury leaning toward more short-term issuance. Yesterday's 25-point hike translates to roughly $18 billion in additional annual financing costs for the federal government. That arithmetic compounds with every hike and remains a long-term structural support for the precious metals. We'll get to the news out of the miners and explorers here in just a moment, but first a quick mention of today's sponsor.

This morning briefing is brought to you by Revival Gold. Revival Gold is one of the largest pure gold mine developers operating in the United States. The company is advancing the Merkur Gold Project in Utah, and mine permitting preparations and ongoing exploration are happening at Bear Track Arnett in Idaho. Revival Gold is listed on the venture exchange with the ticker symbol RVG and trades on the OTCQX market with the symbol RVLGF. Learn more about the company at revivalgold.com.

Chris Berry (2:43)

Hi, this is Chris Berry, host of the Power Current Podcast. Throughout my investing life, I've been obsessed with a single question. What happens when commodities, geopolitics and technology collide? About 15 years ago, I founded an advisory firm to help answer this question for both companies and investors alike, and the Power Current Podcast is an extension of this effort.

Each episode, we dive deep into the current state of the most important markets, companies and technologies that will power the revolution in energy today and into the future. Find the Power Current Podcast wherever you get your podcasts.

Trevor Hall (3:23)

And here's what you need to know this morning. Cartier Resources have released an updated preliminary economic assessment for the Cadillac project in Quebec, outlining a 16.2 year mine, averaging 1,000 ounces of gold per year, with an initial capital cost of $275.8 million Canadian. Comes with an after-tax NPV of $1 billion Canadian and an IRR of 26.6%, using a $3,600 per ounce gold price assumption. That rises to $1.5 billion and a 37.3% at the current spot price, with an all-in-sustaining cost of $2,137 per ounce. Cartier Resources trades on the Venture Exchange with ECR. Magna Mining has expanded the R2 football zone at the Lavac Mine in Sudbury, Ontario, and reported initial results from the near-surface West Main Zone, where surface drilling returned 4% nickel, 1.7% copper, 3.5 grams per ton combined platinum, platinum and gold, and an 8.3% copper equivalent, all over 4.6 meters, and a broader zone of 2.9% copper equivalent, over 32.9 meters, adding to ongoing R2 football zone results that have included individual veins, grading 9.5% copper and 23.5% copper equivalent. With 597 feet of underground development completed over July and August, and a manned refurbishment of the production hoisting infrastructure continuing to advance, the company is working toward a formal mine restart decision. Magna Mining trades on the TSX with NICU.

Newcore Gold has reported one of the widest and highest grade thickness intercepts to date at the Boin Gold deposit with the Enchi Gold Project in Ghana, an RC Hole 411 returning 2.5g per tonne gold over 69m, that included 6.4g per tonne over 24m as part of an 80,000m drill program underway at a project where a pre-feasibility study was completed back in June. The results are not yet incorporated into the existing resource estimate and are expected to support future mine plan optimization. Newcore Gold trades on the Venture Exchange with NCAU and on the OTCQX with NCAUF.