Morning Briefing: Surge Copper Formally Enters Environmental Assessment Process

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. It is Wednesday, September 16th. Gold's having a strong start to the morning. It's up 1.3% to 4,348 in ounce. Silver's outperforming up 2% to 64.92. Copper is also higher, adding 1.3% to $6.45 a pound. On the energy side, Crute is lower, with Brent down about a percent and a half to 107 And WTI, it's off more than 2.3% to 103 a barrel. The big macro story today obviously is the Federal Reserve. This is an FOMC decision day and markets are broadly expecting the Fed to raise rates again, continuing what has been an aggressive tightening cycle. The strength in gold and silver this morning, despite the expectation, is notable and suggests that precious metals investors are reading this backdrop as an inflation story more than a rising rate headwind.

Also worth noting this morning is a tightening in diesel markets. Bloomberg reported last week that US diesel stocks have fallen to their lowest level since 2003, heading into a period of peak seasonal demand. For mining companies which rely heavily on diesel to power equipment and run operations at remote sites, this is a cost structure story that will bear watching as companies report their next round of quarterly numbers. So one to pay attention to.

We will 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 Equinox Gold. Equinox Gold completed a business combination with Orla Mining back in July, creating what the companies are calling North America's New Senior Gold Producer. Equinox is tracking approximately 1.1 million ounces of gold production across the combined portfolio this year, with a funded pathway to almost 2 million ounces as its North American growth pipeline develops. Equinox Gold trades on the TSX and the NYSE American, both with the symbol EQX.

Justin Hewn (2:32)

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 (3:13)

And here's what you need to know this morning. Tocvan Ventures has extended the continuous gold corridor at the El Mesquite trend in Sonora, Mexico to approximately 1,400 meters with a step out hole intersecting mineralization roughly 100 meters north of the core of the system and the best result in a new batch of assays. Hole 172 returned 81.1 meters of 0.48 grams per ton gold from just 13 and a half meters depth. And they're also included 47.65 meters of 0.8 grams per ton and 2.75 meters of 8.44 grams per ton gold and 54 grams per ton silver. The company is targeting production of its first gold-silver dore in the fourth quarter of this year. Tocvan Ventures trades on the CSE with TOC and on the OTCQB as TCVNF. Fregold Ventures has reported new high-grade drill results from the Golden Summit deposit in Alaska, highlighted with hole 2634, it was returning 102.8 meters of 3.1 grams per ton gold from 460 meters depth and included 55.9 meters of 5.18 grams per ton and 1.2 meters of 183 grams per ton, stricting the case for a 29 million ounce resource as the company advances a pre-feasibility study targeted for 2027 The camp was also recently connected to grid power, eliminating diesel generation costs. Fregold Ventures trades on the TSX as FVL and on the OTCQX with FGOVF.

G Mining Ventures has confirmed a new gold discovery at the Grotia Colt target within its Gurupi project in Brazil, with Maiden drilling returning 23m at 1.97g per tonne gold and there included 9m of 4.24g per tonne. While additional drilling extended the blanket deposit 250m beyond the current resource shell, and depth drilling at the operating Tocantin Xeo mine in Pará confirmed continuity with 78.1m of 1.81g per tonne gold below the existing pit design. An updated Gurupi resource estimate and a preliminary economic assessment are both expected before year end. G Mining Ventures trades on the TSX with GMIN and on the OTCQX as GMINF.