Morning Briefing: Gold, Copper Are At Multi-Month Lows

0:02Good morning and welcome back to the Mining Stock Daily Morning Briefing.

0:30Nvidia is pulling the tech sector lower with some rival companies trading higher. Commodities are lower primarily due to hotter than expected US inflation data earlier this week which has pushed treasury yields up and strengthened the US dollar. Gold futures have slipped under the$4 ,000 mark to$3 ,952, the metals lowest level since July. Copper futures are trading at$6.21 and oil concerns continue to ease with crude oil futures at$85.75. We will get to the news from the miners and explorers in just a moment, but first a mention of today's sponsor. This episode of Mindstock Daily is brought to you by Revival Gold.

1:16Revival Gold is one of the largest gold mine developer operating in the United States. The company is advancing the McCurr Gold Project in Utah and mine permitting preparations and ongoing expirations at the Bear Track Carnet 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. You can learn more about the company at revival-gold.com. Here's the news you need to know today. Hot Bay Minerals posted record third quarter revenue of 766 million and adjusted EBITDA of 413 million, lifting trailing 12-month EBITDA to a record 1.5 billion.

2:05Free cashflow reached 202 million in the quarter and the company improved full year cash cost guidance for the first time to between negative 55 and negative 35 cents per pound of copper. Peru and British Columbia costs ran above annual guidance, but production guidance was reaffirmed and Copper World reached a final investment decision with the Mitsubishi after quarter end. Altius Minerals has agreed to acquire TNR Gold in a deal valued at about$122 million, a 60 % premium adding royalties on the Las Azulas Copper and Mariana Lithium projects in Argentina. TNR shareholders will receive 0072 Altius shares and 0.25 cents a share of a Spinko holding the Shotgun Gold Project in Alaska, where Altius retains a 0.5 % NSR and will lift its Spinko stake to about 19.9%.

3:01Holders of about 20 % of TNR shares, including Leclyptis, support the deal ahead of the December vote. lithium america's raised its thacker pass phase one capital cost estimates to 3.83 billion from 2.93 billion a 31 percent jump citing tariff logistics and other factors that emerged after its april 2025 investment decision the company says the higher cost remains funded through available sources while mechanical completion stays on track for late 2027 and ramp up through 2028 towards 40 ,000 tons per year of lithium carbonate. Procurement is over 90 % complete and about 1 ,900 workers are on site, raising to about 2 ,200 by year end.

3:48Magnum Mining reported new underground assays from its past producing Lavac mine in Sudbury led by 7.9 % copper equivalent over 3.9 meters at the R2 footwall zone, including 33.3 copper equivalent over 0.7 meters. The same hole cut 16.6 % copper equivalent over 2.2 meters in a previously undefined zone about 260 meters before the R2 target, which the company says points to a new footwall discovery potential. Restart work continues with the host refurbishment on track for Q1 2027 ahead of a pre-commercial ore production during 2027. Goldhart Coppers completed the acquisition of the Coposio former copper gold mine in Chile through a court supervised exploration concession application.

4:38The company cites a 2010 historical estimate of 45.8 million tons at 1.14 % copper, an exploration target of 30 to 81 million tons, though the estimate is not an NI-43-101 compliant and the target is conceptual. Recorded production is limited to 13 ,226 tons at 1.46 % copper, shipped at Anami in 2007, and pre-drilling work has begun. Integral Resources cuts its 2026 Florida Canyon production guidance to 59 ,000 to 62 ,000 ounces of gold from 70 ,000 to 75 ,000 ounces, saying heap leaching has not kept pace with the record mining sales. Third quarter output rose to 17 ,652 ounces, up from 8 % from the prior quarter, with net earnings of$12.9 million and mine site all in sustaining costs of$3 ,059 per ounce.

5:33Cash stands at$119.5 million and a record of decision on the De La Mar project is expected in the second half of 2027. Montage gold per the first gold at its Coney Gold Mine in Cote d 'Ivoire on September 26th will have its original Q2 2027 schedule and the oxide plant averaged over 90 % of its 11 million tons per annum nameplate capacity in October. About 90 % of the 885 million upfront capital is now committed, with commercial production expected this quarter in hard rock circuit on track for 2027. Second quarter, 2027, available liquidity fell to 205.6 million. Visa Copper reported a first phase two results from its Thera Copper Molybdenum discovery at the Poplar project in central British Columbia, led by 297.8 meters of 0.49 % copper equivalent, or 0.29 % copper, including 52.2 meters of 0.64 % copper equivalent.

6:36The hole extends mineralization to at least 670 meters below surface. Assays are pending for 15 to 17 phase two holes and drilling continues at the company's Copperview project near Merritt. And finally, Oh My Gold Mines reported results from 12 holes at the Weenot deposit in Guyana, led by 4.84 grams per tonne gold over 38.4 meters and 12.57 grams per tonne gold over 5.8 meters in the central dike corridor. The company has drilled 106 holes in 2026, 88 of them after its April resource estimate with assays pending for another 42 holes. Six rigs are now active as all my targets and updated resource estimate in Q1 2027 and begins testing near surf targets like BBH.

7:26The 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 Clear Commodity Network. That's it today. Everyone have a great day. Stay safe. The information presented should not be considered investment advice. Mining Stock Daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.