Morning Briefing: North Star Reject Gold Fields Bid

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. Hey, good morning, everybody. Welcome back to the Mining Stock Daily Morning Briefing. This is Trevor Hall, and it is Monday, September 28th, back from a full week at the Beaver Creek Precious Metal Summit, as many now transition to Denver Gold. But gold is under pressure this morning, falling roughly 3 % to around$4 ,149 an ounce. The story is rates. The 10-year Treasury yield is up 5 basis points to 5.21%, and that move is doing real damage to gold early this week.

0:51It's a reminder that even at these price levels, gold is not immune to a sharp move in the long end when yields break higher. There's big M &A news this morning. Northstar Resources has unanimously rejected an unsolicited takeover proposal from South Africa's gold fields worth approximately$38.7 billion Australian. Northstar's board called the offer highly opportunistic and said it materially undervalued the company's portfolio of long life assets. A successful deal would have created the world's second largest gold producer after Newmont. Northstar shares surged more than 9 % at the open on the news before settling roughly 6 % higher, which is the market's way of saying, come back with a better price.

1:41On the critical minerals front, there is a structural workforce problem forming in North America that is worth understanding. The continent is building rare earth processing plants far faster than it is training engineers to run them. U.S. universities award roughly 285 mining degrees per year at all levels. That's less than half the 600 a year the Department of Energy estimates the country needs. The timing tension is acute because MP Materials Texas Magnet Campus and USA Rare Earth's South Carolina plant both commission in 2028, while a student who starts a U.S. mining degree this fall graduates weeks in 2030.

2:24We'll get to the news out of the miners and explorers in a moment, but first a quick mention of today's sponsor. Today's morning briefing is brought to you by Integra Resources. Integra is a growing precious metals producer in the Great Basin of the western United States. They're focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine in Nevada. In addition, Integra is committed to advancing its flagship development stage heap leach projects, the past producing Delamar project in Idaho, and the Nevada North project in Nevada. Learn more about the business and their high industry standards over at integraresources.com.

3:07Hi, 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. Find the Power Current podcast wherever you get your podcasts.

3:48And here's what you need to know today. Talisker Resources has made a new high-grade underground discovery at the 1105 level of the Mustang mine at its Braylor Gold Project in British Columbia. Underground development has exposed a continuous 36-meter strike length of the M1 vein, averaging 27.88 grams per ton gold across an average true width of 0.61 meters. and the mineralization sits entirely outside of the current mineral resource boundary. Standout phase sample results included 229 grams per ton over 0.63 meters on phase 11 and 93.1 grams per ton over 0.63 meters on phase 2. The discovery reinforces the expiration upside surrounding Talisker's existing underground infrastructure.

4:39It trades on the TSX with the symbol TSK and on the OTCQX with TSKFF. Thunder Gold has reported the sixth hole of its infield drill program at the bench target on the Tower Mountain property near Thunder Bay, Ontario, with hole 217 intersecting 232.5 meters, excuse me, 232.5 meters, averaging 0.45 grams per ton gold from a depth of 360 meters. The program is designed to convert inferred resources to indicated ahead of a December resource update. Thunder Gold trades on the Venture Exchange with TGOL and on the OTCQB with TGOLF. Ostrogold has reported first results from its brownfield exploration program at the Los Nanos sector located 2.5 kilometers from the Guanaco processing plant in Chile's Antofagasta region.

5:39The standout intersection from 23 reverse circulation holes is hole 1186 which returned 95 meters of 1.1 grams per ton gold equivalent including 3 meters of 8.1 grams per ton while hole 1197 and hole 1196 return 20 meters of 3.12 grams per ton and 15 meters of 3.3 grams per ton gold equivalent respectively los nanos hosts the highest grade open pit resource within the guanaco inventory but it not it is not yet included in the current mine plan and the results indicate that mineralization extends beyond the current block model geometry a next phase of up to 8 000 meters of drilling is planned for Q4.

6:26Austro Gold trades on the venture exchange with AGLD and on the OTCQB with AGLDF. Rio 2 has provided a Q3 operations update for its Phoenix Gold mine in Chile, disclosing that a Super El Nino has generated a series of severe winter storms that disrupted mining activities during the quarter, with major weather events running from July 17th through the 24th and August 10th through the 22nd, followed by three additional significant single-day snowfall events. Throughout each disruption, operations were safely suspended and all personnel were successfully evacuated, while the leach pad, process plant, and power generation facilities remained intact and operational at reduced capacity, so preserving site integrity.

7:18The ramp-up of mining activities remains on track to achieve commercial production in Q4, and site management has implemented recovery initiatives to address the production losses, although the company is withholding formal guidance for the balance of the year. Rio 2 trades on the TSX with RIO and on the OTCQX with RIOFF. Perpetuate Resources has provided a construction and exploration update for the Stibnite Gold Project in Idaho. On the construction side, work is advancing on the burnt log route and worker housing and development of transmission line infrastructure is progressing. while the dual autoclaves that are critical path components for the processing facility are being fabricated at a custom facility in Europe.

8:09On the exploration side, a multi-target drill program has surpassed the original 10 ,000 meter program mark and will continue into the fall season, with drilling active on the Clark Tunnel Fault Zone, Fiddle, Scout, and Hanger Flats targets. The Clark Tunnel fault zone has elevated to a priority target after initial drilling encounters significant near-surface gold grades. Perpetual resources trades on the NASDAQ, both the NASDAQ and the TSX with PPTA. and before the weekend Montage Gold announced they did achieve first gold pour at its Kone mine in Cote d 'Ivoire pouring approximately 1 ,140 ounces on budget and ahead of the company's initial schedule for the second quarter of 2027.

9:00The oxide circuit began receiving ore on September 8th and has processed more than 400 ,000 tons with commercial production expected in Q4. Montage Gold trades on the TSX as MAU and on the OTCQX with MAUTF. All right, that's a wrap here this morning on the morning briefing. It is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice and at clearcommodity.net. Have a wonderful day, everybody. 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.

9:47Please do your own research or speak with a licensed financial representative before making any investment decisions.