Morning Briefing: Strike Averted At World's Largest Copper Mine

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.

Michael McCray (0:17)

Good morning, and welcome back to Mining Stock Daily Morning Briefing. I am Michael McCray, filling in for Trevor Hall. It is October 15th, 2026 The markets faced their steepest sell-off since July, after the release of September's Consumer Price Index, which indicated annual inflation rose 3.7%. The hotter-than-expected data significantly boosted market expectations, and the Federal Reserve will implement another interest rate hike before the end of the year. Yesterday's pullback wiped out roughly $1 trillion in market value. The Korean Market Index, or COPSCOSPI, crashed more than 7% heavily weighed down by the double-digit decline in major memory chipmakers. As of 8:45 a.m. Eastern Time, NASDAQ futures are off 1.16%. S&P futures are down 0.31%.

Gold futures are at $4,160, and copper futures are at $6.55.

Copper supplies got some relief. A strike at the world's largest copper operation has been averted after BHP and Escondida Mine Supervisors Union endorsed a preliminary agreement reached Wednesday morning. We will get to the news from the miners and explorers in a moment, but first a mention of today's sponsor. Today's episode of Mining Stock Daily is brought to you by Revival Gold.

Revival Gold is one of the largest pure gold developer operating in the United States. The company is advancing its Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol RVG and trades on the OTCQX market under the ticker symbol RVLGF. Learn more about the company at revivalgold.com.

Here's what you need to know today. Brunswick Exploration reported that whole AN-26-17 at its flagship lithium project in Quebec's James Bay region intersected 302 meters of spotumine-bearing pegmatite, extending the ANEI dyke to a vertical depth of 500 meters, about 20 kilometers east of Rio Tinto's Galaxy project. Visual estimates put spotumine content to roughly 30% with under 5% internal dilution. An improvement on the earlier AN-26-15 hole that returned 1.31% lithium dioxide over 202 meters and the estimated true thickness is about 78% to 80% of the interval. The dyke remains open in all directions and the hole ended in mineralized pegmatite at the rig's depth limit, but assays are still pending, so the grade figures rest on visual estimates for now. New Found Gold reported preliminary Q3 2026 production of 4,863 ounces and a sale of 6,035 ounces from its Hammerdown Gold Mine in Newfoundland, which declared commercial production on August 19th at 85% recovery at 2.76 grams per ton process grade at an average realized price of $4,310 per ounce. Cash fell to about 167 million from 194 million at the end of June with debt unchanged 70 million and offered 35 million facility available until May 2027, subject to conditions. The company expects life of mine run rate of 20,000 to 25,000 ounces a year at an all in sustaining cost of roughly $2,500 per ounce. Is building an on-site crusher and sorter for Q1 2027, commissioning and plans to convert the Pine Cope Mill to a gravity circuit by Q4 2027 while focusing on its flagship Queen's Way project. Gold Hart Copper has acquired a 4,000 hectare Copper Gold IOCG property in Chile, located roughly 20 kilometers south of Capstone Copper's mine and 60 kilometers south of Colapapo within the coastal IOCG belt and the Atacama Fault system. The company says that the ground hosts visible surface Copper, minerals and several historically worked artisanal veins, including one 145 meter long and that it obtained the assets directly from the government at little cost with the geochemical and geophysical surveys already underway. Gold Hart also reported continued progress on a Copisio concession application and is issuing 14.5 million stock options at 20 cents for five years, lifting outstanding options to 7.5 percent of shares. Jaguar Mining produced 12,981 ounces of gold in Q3 2026, up 30 percent from 10,002 ounces a year earlier, with the gain coming entirely from ramping up its Turmalina mine, which contributed 4,432 ounces at 4 grams per ton head grade, but only 67 percent lower recovery at the faena ore body rose to about two-thirds of a plant feed. Pillar output actually fell 15 percent year-on-year to 8,549 ounces, as head grade dropped to 2.76 grams per ton from 3.68 grams per ton, despite a 14 percent higher throughput.

Tectonic Metals released results from 19 holes at Chicken Mountain on its 99,840 acre flat gold project at Southwest Alaska, led by Alpha Bowl Hole CMR26-170 at 2.41 grams per ton gold over 59.44 meters, including 11.82 grams per ton over 10.67 meters, within a surface starting interval of 1.86 grams per ton over 80.77 meters. At the added zone, CMR26-163 returned 1.52 grams per ton gold over 42.67 meters, and finished with 3.84 grams per ton over its final 13.72 meters. The Mining Stock Daily Morning Briefing is produced by Clear Commodity Network. It is distributed through the world, through your podcast network of choice, and at the Clear Commodity Network. That's it today, everyone. Have a great day. Stay safe.