Morning Briefing: Magna Mining Publish Levack PEA and Give Approval for Restart

0:02Good 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. And good morning, everybody. Welcome back to the Mining Stock Daily Morning Briefing. It is Thursday, October 8th. Gold is finding some footing this morning at$4 ,122 an ounce. That's up a quarter of a percent after sliding to a two-month low yesterday. Silver continues weaker, down nearly 2 % to$58.75 an ounce. Copper is also easing slightly to$6.58 a pound.

0:45The sell-off in gold yesterday brought the price to$4 ,113 an ounce. It was the lowest since early August, as a strengthening U.S. dollar and 10-year treasury yields did hit a multi-decade high. It all weighed down the metal. Markets are now pricing in an 85 % chance of a December rate hike from the Federal Reserve, and Fed officials this week signaled further tightening may still be needed. The one structural counterweight, China's central bank, continued buying in September. It was its 23rd consecutive month of additions. Meanwhile, Newmont CEO, Ms. Natasha Veljwin, offered the gold industry some pointed advice at a mining conference in Johannesburg this week.

1:32She warned that the margins available at current prices are exactly the environment where producers tend to make bad capital decisions. Her message was strictly to the point. The biggest mistake the industry can make right now is losing discipline. 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 episode of The Morning Briefing is brought to you by Revival Gold. Revival is one of the largest pure gold mine developers operating in the United States. The company is advancing the Merkur Gold Project in Utah, with mine-permitting preparations and ongoing exploration also happening at Beartrack, Arnett, and Idaho.

2:17Revival Gold is listed on the Venture Exchange under the ticker symbol RVG, and trades on the OTCQX market with the symbol RVLGF. Learn more about the company at revival-gold.com. 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.

3:04Find the Power Current podcast wherever you get your podcasts.

3:14and here's what you need to know this morning the lead story today is out of sudbury magna mining has released a preliminary economic assessment for the restart of the levac mine in the sudbury basin in ontario and its board of directors has formally approved the restart plan The base case PEA outlines 7.3 years of commercial production at an average of 36.8 million payable copper equivalent pounds per year, all in sustaining costs, come in at$3.71 per pound. It comes with an after-tax NPV of$227 million Canadian with a 92.4 % IRR and a payback of just over half a year. At September 2026 spot prices, those numbers climbed to$313.6 billion of an MPV and 115.8 % IRR.

4:13Initial capital is estimated at$70.1 million Canadian, but pre-commercial production cash flows and tax credits reduced the net funding requirements to approximately$8.6 million Canadian. Commercial production is targeted for mid-2028. The Levesque mine last operated in 2018 and shares infrastructure with Magnus currently producing McCready Westmine. Magna mining trades on the Toronto Stock Exchange as NICU and on the OTCQX with MGMNF. NNF. Chile is continuing to build out its La Verde copper gold porphyry discovery in Chile's coastal range, with three new results reinforcing the scale and continuity of the near-surface high-grade zone ahead of a mated mineral resource estimate targeted for later this year.

5:08Headline hole 75 returned 188 meters of 0.56 % copper equivalent from 24 meters depth. Hole 78 delivered 240 meters, a 0.43 % copper equivalent. Hole 67 returned 112 meters, a 0.47 % copper equivalent. Integration of La Verde into a revised pre-feasibility study for the Costa Fuego copper gold project is expected to materially improve the project's economics with an environmental impact assessment submission targeted for Q2 of next year. Hot Chili trades on the Venture Exchange with HCH and on the OTCQX with HHLKF. Aris Minerals has released results from its Biskaga project in Kazakhstan that point to two distinct styles of mineralization on the same land package.

6:03At the Bereski Central Porphyry Target, the company has intersected 574 meters, a 0.4 % copper equivalent. is one of the longest intersections in the company's history and consistent with the bulk tonnage character of that system. In the same release this morning, a separate new epithermal target returned 22.8 meters of 5.37 grams per ton gold, introducing a high-grade gold system on the property that will require its own follow-up program. The combination of a large copper equivalent porphyry and a high-grade gold epithermal is in proximity as a meaningful discovery signal for the broader district.

6:42Aris Minerals trades on the venture exchange with ARK.

6:48Corex Copper has published an interim update for the Hybe Copper Prefeasibility Study in southern Namibia, confirming all work streams remain on track for publication before the end of November. The biggest process is change in the elimination of the heat bleach component from the PFS base case, with all production now flowing through a milling and flotation circuit processing 48 million tons per year. Power and water infrastructure agreements are in place with NAM Power and NAM Water, respectively. Environmental clearance applications were filed in August and September, with a decision expected before the end of this year.

7:28Corex Copper trades on the Venture Exchange with KRY and on the OTCQX with KYXF. K2 Gold has extended the Dragonfly Gold target at its Mojave project in California by 480 meters to the south, with new rock samples grading up to 10.9 grams per ton, confirming continuous high-grade gold over a total confirmed strike of 1 ,000 meters within the 6.5 kilometer east side gold trend. At the Flores target, 1.6 kilometers to the east, rock chips returned values of up to 28.8 grams per ton gold across an 800-meter east-west trend that hosts some of the highest-grade surface samples on the property. A separate area called Stega returned a remarkable 24.8 % copper rock assay.

8:19meanwhile k2's 14 000 meter drill campaign at the east side gold trend has 7 600 meters and 39 holes completed and it continues k2 gold trades on the venture exchange with kto and on the otc qx with ktgdf and alaska silver has wrapped up its 2026 drill season at the illinois creek project in western alaska completing about nine and a half thousand meters across two drill rigs in 84 days, that's six days ahead of the original 90-day schedule and well above the initial 6 ,000 meter plan. After the original target was hit in just 54 days, the company raised$7.6 million Canadian and expanded the program to 9 ,000 meters.

9:05The crews exceeded even that. Average drill production came in at nearly 113 meters per day, more than double the planned rate, and the season included the deepest hole in the project's history at just under 1 ,300 meters. Zero lost time incidents, zero reportable safety incidents, zero rig downtime for the full season. It's pretty remarkable. Assay results from 39 drill holes are pending. Alaska Silver Trays on the Venture Exchange with WAM and on the OTCQX with WAMFF. half. All right, that's a wrap here this morning on the morning briefing. It is brought to you and produced by Clear Commodity Network.

9:46It's distributed throughout the world through your podcast network of choice at clearcommodity.net. Have a wonderful day, everybody, and be well. 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.