Morning Briefing: OceanaGold Moves to Acquire Ausgold

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. And we're starting the week off on the right foot. Silver outperforming out of the gate this morning, up 1.67 % to$65.74 an ounce. Gold is grinding higher, but still in a range. It's up 0.5 % to$4 ,399 an ounce. Copper is adding over 1 % to$6.68 a pound, and there's a significant story behind that move.

0:50Copper's London market is showing acute tightness this morning, with the LME August over September spread blowing out to$370 per ton. That is the widest one-month spread since the 2021 short squeeze. LME stockpiles fell for the 42nd consecutive session to just under 205 ,000 tons with nearly half already earmarked for removal from warehouses. Supply anxiety is compounded by the situation in Indonesia, where P.T. Smelting's Gresik plant has been offline for about 11 days now, following a furnace incident, though the company says it is accelerating the restart of its adjacent man-yard smelter to offset the outage by the end of this month.

1:41In the uranium sector, NextGen Energy has broken ground on its Rook-1 uranium project in Saskatchewan. It's a mine designed to produce up to 30 million pounds of uranium per year at full capacity, which would exceed the licensed output of Cameco's MacArthur River-Key Lake complex. The Canadian Nuclear Safety Commission approved the environmental assessment in March and granted the construction license concurrently. 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 Mining Stock Daily is brought to you by Integra Resources.

2:19Integra 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. including the past producing Delamar project in Idaho and the Nevada North project in Western Nevada. Learn more about the business and their high industry standards over at integreresources.com. Hi, I'm Rory Johnston, host of the Oil Ground Up podcast. I'm also the founder of Commodity Context and have been an oil market analyst for more than a decade.

3:02What I love about the oil industry is that it is both unquestionably essential to our modern life and the supply, demand, and pricing of this indispensable product is driven by an ever-changing cornucopia of geological, geopolitical, and technological developments. Listen as I speak with experts across the industry to explore everything you've always wanted to know about what's moving the market for black gold. Find the Oil Ground Up podcast on Apple Podcasts, Spotify, and at clearcommodity.net. Brought to you by the Clear Commodity Network, digital news on the physical markets.

3:48And here's what you need to know this morning. Oceana Gold has agreed to acquire Osgold Limited through an Australian court-approved scheme, valuing Osgold's equity at roughly$776 million Australian or$549 million US. The acquisition targets Osgold's Catanning Gold project at 275 kilometers southeast of Perth in Western Australia, where the December 2025 feasibility study outlined a 3.6 million ton per year CIL plant and a$355 million Australian in pre-production capital, over 100 ,000 ounces of gold in production per year over a 10 plus year mine life. First gold is targeted for 2029. The scheme meeting is set for late November.

4:41Oceania Gold trades on the TSX and the New York Stock Exchange, both under the symbol OGC. Mining Americas is out with Q2 results from the Pan mine in White Pine County, Nevada. It's reporting revenue of$32.6 million, adjusted net income of$6.5 million, or$0.06 per share, and adjusted EBITDA of$9.3 million on 8 ,217 ounces of gold produced and 8 ,329 sold at an average realized price of$3 ,920 per ounce. The company's cash costs came in at$1 ,831 per ounce and its ASIC of$2 ,054 per ounce. The company reported it holds$43.5 million in cash. The company ramped up the heat bleach operation to over 70 ,000 tons per day by June.

5:36That was up from about 51 ,800 tons per day at the start of the quarter. It's targeting approximately 100 ,000 tons per day in the second half of 2026, against full-year guidance of 32 ,000 to 38 ,000 ounces. Mining Americas trades on the TSX with MAI and on the OTCQX with MAIFF. DPM Metals has declared commercial production at its Varys silver gold mine in Bosnia and Herzegovina. That's ahead of schedule after achieving 72 % of design throughput capacity and recovery over a 30 consecutive day benchmark period. That's well above the required 60 % threshold. DPM is targeting a full production run rate of 850 ,000 tons per year at Varish by year end, and now expects production at the higher end of its 105 ,000 to 130 ,000 gold equivalent ounce guidance range for the operation.

6:38DPM Metals trades on the TSX and the Australian Securities Exchange with DPM. It also trades on the OTC with DPMLF. Equinox Gold has received a positive record of decision from the U.S. Bureau of Land Management for its South Railroad Gold project in Nevada's Carlin Trent. After completing the federal NEPA permitting process, the company has already begun early works construction, submitting state permits and water right applications, and advanced detail engineering to 55.2 % complete. The 2026 feasibility study outlined average annual gold production of 130 ,000 ounces in the first five years and over 100 ,000 ounces per year over a 10-year mine life with initial capital of $395 million.

7:31Mining equipment is scheduled to arrive by year end. Initial mining begins in the spring of 2027 and first gold is targeted for 2028. equinox gold trades on the tsx and the nyse american both under the symbol eqx revival gold has released interim results from its ongoing marker column leech testing program in utah it's covering 18 columns loaded at crush sizes from 6.3 to 37 and a half millimeters across 11 composites from the main and south marker zones the work showed recovered oxide material averaging 81 % gold extraction and 16 % silver extraction to date, while refractory material is averaging 43 % gold and 31 % silver.

8:19The testing is supporting a preliminary feasibility study for Merkur targeted for completion by Q1 of 2027. Revival Gold trades on the TSX Venture with RVG and on the OTCQX with RVLGF. Bunker Hill Mining has fired the first production stope blast at the Bunker Hill Mine in Kellogg, Idaho using transverse long-haul stoping with paste backfill made from mill tailings and cement. It's a milestone that advances the 1800 ton per day zinc, lead, and silver operation toward commercial production by year-end 2026. The company has now gone four consecutive years without a lost time incident and one full year without a recordable safety incident.

9:06Bunker Hill Mining trades on the TSX with BNKR and on the OTCQB with BHLL. And finally, Alaska Silver has closed a$7.6 million Canadian private placement. Proceeds will expand the company's 2026 drill program at the Illinois Creek Project in Alaska from 6 ,000 to about 9 ,000 meters. It's targeting Water Pump Creek Silver Zinc Lead Zone and the Silver Sage target. Alaska Silver trades on the venture with WAM and on the OTCQX with WAMFF. Alright, quite a bit of news here to start the week. The Mining Stock Daily Morning Briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice and at clearcommodity.net.

9:55Have 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. Please do your own research or speak with a licensed financial representative before making any investment decisions. Thank you.