Morning Briefing: Franco-Nevada Acquire Stake in Kenorland Minerals

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 (0:17)

Hey, good morning, everybody. Welcome back to the Mining Stock Daily Morning Briefing. It is Tuesday, October 6th. Gold and silver are both higher this morning, with gold up about 9 tenths of a percent to 4,178 an ounce. Silver is up just under a percent to 6,155, both kind of trading in a continued range. Copper is also nudging higher, up about a quarter of a percent to $6.60 a pound. There's a big macro story out of South America. First round results from Brazil's presidential election over the weekend showed former president Jair Bolsonaro taking a stronger lead over Luiz Inácio Lula da Silva, more so than polls had anticipated, sending Brazilian equities and the real higher yesterday. The results matter to mining investors because Brazil is the world's largest exporter of iron ore, a top five producer of copper, nickel and bauxite, and home to significant gold production across the Amazon basin. A Bolsonaro victory in the second round would likely be seen by markets as a shift towards less regulatory friction for resource extraction. That's an outcome the sector has been watching closely. One factor keeping copper's gains modest today, Chinese markets remain closed for the national day of Golden Week holiday and will not reopen until Thursday. The absence of the world's largest copper consumer from the market tends to thin volume and dampen price discovery. Traders will be watching closely when Chinese buying resumes to see whether pent up demand translates into a move higher in the base metals complex.

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 Visa Silver. Visa is advancing the 100% owned PANUCO Silver Gold Project in Salo, Mexico. It's one of the world's highest grade undeveloped silver projects. It hosted November 2025 Feasibility Study confirming an after-tax NPV of $1.8 billion, a 111% IRR and an initial capital of $173 million. Thus, with an average annual production of 17.4 million silver equivalent ounces over an initial mine life of 9.4 years, with an all-insustaining cost of $10.5 per ounce.

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Justin Hewn (2:57)

Hey everyone, Justin Hewn of Uranium Insider here, inviting you to check out the Going Nuclear podcast, co-hosted by yours truly and Trevor Hall and produced by the Clear Commodity Network. Each episode we dive deep into the uranium sector and the fast evolving world of nuclear energy and uranium investment. From supply dynamics to policy developments and market trends, we bring you the insights that matter most to energy investors and industry watchers.

You can find Going Nuclear on Apple Podcasts, Spotify and at clearcommodity.net. Clear Commodity Network, digital news on the physical markets.

Trevor Hall (3:38)

Here's what you need to know this morning. Franco Nevada, one of the world's largest gold-focused royalty companies, has acquired 10 million shares of Kenorland minerals for $22.2 million, taking a 12.42% stake through a private purchase from co-founder John Tognetti and CEO Zach Flood. Kenorland is a prospect generator that holds a 4% net smelter return royalty on the FOTET project in Quebec, where Sumitomo's Renault Gold system hosts an inferred resource of 2.5 million ounces at 4.5 grams per ton. Kenorland Minerals trades on the Venture Exchange with KLD and on the OTCQX with KLDCF. Brixton Metals has released results from 28 holes at its Lancaster Silver project in the Cobalt mining camp of Northern Ontario with a headlined hole returning 23.5 meters of 348 grams per ton silver and included 4 meters of 1,975 grams per ton and 2 meters of 3,300 grams per ton from Visible Native Silver. A second highlight hole returned 6.5 meters of 667 grams per ton silver and included 1 meter of 3,570 grams per ton. The company has added a third drill rig and is targeting 9,000 meters per month toward a Mated Mineral Resource Estimate. Brixton Metals trades on the Venture Exchange with BBB and on the OTCQX with BBBXF.

1911 Gold has reported resource expansion drill results from the True North Mine in the Bisset Gold Camp in Eastern Manitoba, reported intersecting 7.5 grams per ton gold over 5 meters at the 7, 10 and 7, 11 zone. That included 32.9 grams per ton over a half meter and up to 21.2 grams per ton over 0.6 meters at the 7 zone. 1911 Gold trades on the Venture Exchange with AUMB.