Morning Briefing: SSR Mining Acquires Roxmore Resources

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. This is Trevor Hall, and today is Tuesday, October 13th. gold is firming up this morning at 4 185 dollars an ounce up about a third of a percent after finding support near the 4 100 level earlier yesterday silver is essentially flat at 60 34 an ounce copper is also edging higher to 6 71 a pound a significant central bank story in the gold sector landed yesterday kazakhstan which ranked as the fourth largest gold buyer in the world through the first eight months of the year is reversing course a bit and beginning to sell.

1:00The National Bank holds 386 tons of gold, representing roughly 78 % of its total foreign exchange reserves. It's a concentration the deputy governor described as uncomfortably high. The goal is to lower that share to 75 % by year end through a combination of physical gold sales and options. The driver is the same one weighing on the gold price across the board. That's the 10-year treasury yield and its 24-year high. It's making the dollar increasingly attractive as a reserve asset. Turkey and Russia trimmed their gold positions earlier this year for similar reasons. Poland, China, and Uzbekistan continue to add, and the overall central bank trend remains net positive for the metal.

1:50We'll get to the news out of the miners and explorers here in just a moment. First, a quick mention of today's sponsor. This morning briefing is brought to you by Visla Silver. Visla Silver is advancing the 100 % owned Panuco Silver Gold Project in Sinaloa, Mexico. Mine development is underway with EPCM and mine design contracts being awarded. Equipment supply agreements are in place and the project is backed by a U.S. $300 million convertible note and a U.S. $222 million project finance mandate with McQuarrie. Visa silver trades on the Toronto Stock Exchange and the NYC, both under the symbol VZLA.

2:31From power generation to steelmaking, coal still drives the global economy. And the Coal Trader Podcast from Clear Commodity Network is where the industry comes to talk about it. Join me, Matt Warder, and my partner Joe Aldina as we break down the latest trends in thermal and met coal, explore shifting market dynamics, and sit down with industry veterans and executives for unfiltered, insightful conversations. Listen to Coal Trader Podcast on Apple Podcasts, Spotify, or at clearcommodity.net. Clear Commodity Network, digital news on the physical markets.

3:06and here's what you need to know this morning mna news actually hitting the tape ssr mining has announced a definitive agreement to acquire rocksmore resources and its converse gold project in nevada it's situated six kilometers west of ssr mining's marigold complex on the battle Mountain Eureka trend. Roxmore shareholders will receive$6.75 Canadian per share in cash, that's a 27 % premium to the October 9th close and a 47 % premium to the 20-day VWAP. It's for an enterprise value of approximately$392 million, plus shares and a newly created exploration spin out the converse resources totals 2.2 million ounces of indicated and 3 million ounces of inferred ssr mining envisions 150 000 to 170 000 ounces of annual production over 10 year plus mine life starting in 2033 with initial capital of 800 to 900 million and more than 200 million in life of mine synergies from shared operations with marigold the deal is expected to close in the fourth quarter of 2026.

4:22Roxmore trades on the Toronto Stock Exchange with RM. SSR mining trades on the NASDAQ stock market and the Toronto Stock Exchange, both under the symbol SSRM.

4:37Equinox Gold has reported third quarter gold production of 237 ,000 ounces. Its first quarter incorporating the Orla mining combination, which closed on July 31st. The headline mine level result was Musselwhite in Ontario, which delivered just 45 ,500 ounces, just over that, at 6.15 grams per ton in just two months of contribution. Greenstone added 60 ,500 ounces, and Valentine continued improving on grade at 1.82 grams per ton. year-to-date production is at 611 ,483 ounces, which keeps the company on track for its 870 ,000 to 920 ,000 ounce guidance. Equinox ended the quarter with$527 million in cash, has repaid $1.2 billion in debt year-to-date, and commenced early works construction at South Railroad in Nevada, with the first gold targeted for 2028.

5:43Equinox Gold trades on the Toronto Stock Exchange and the NYSE American, both with the symbol EQX. Integra Resources has issued an update on the Delamart Gold Silver Project in Idaho, confirming that detailed engineering, permitting procurement, and state of good repairs work are all advancing in line with the plan. The more significant piece of news is the appointment of gen cap as the project's financing advisor it's a clear signal that integer is moving into the financing and pre-construction phase of development at delamar for a project of this size in one of the united states most mining friendly jurisdictions bringing a dedicated financing advisor on board is a it's a pretty meaningful step towards a construction decision in fact i talked to ceo george salamis about this in an upcoming episode of a corporate update with integra airing later today so stay tuned for that integra resources trades on the tsx venture with itr and on the nyc american with itrg collective mining has reported a new shallow high-grade discovery in the northern apollo zone of the apollo system on the guayabalas project in colombia the standout interval is five and a half meters grading 1 ,283 grams per ton silver 0.83 percent tungsten trioxide 0.57 percent copper and 0.17 grams per ton gold from a depth of 89 meters this is the third distinct style of mineralization to emerge from the broader apollo system in recent months after the main high grade gold silver breccia body and the tungsten gold mineralization was identified in schist at depth in September.

7:31The addition of shallow high-grade silver tungsten in a separate northern extension of the system materially broadens the footprint and the commodity exposure that Apollo could represent. Collective mining trades on the Toronto Stock Exchange and the NASDAQ with CNL. District Metals has completed its first drill hole at Target A on the Viken property in Jammutland County in Sweden. Hole 1 intersected 154.8 meters of graphitic alum shale from just 43.7 meters depth. Validating the Mobile MT Geophysical Survey has an effective targeting tool for identifying thick, shallow alum shale beyond the known WECON deposit.

8:16Geochemical assays are pending as visual logging and radioactivity alone are not sufficient to establish grade and continuity. The company is continuing to drill across target areas A and B. District Metals trades on the Venture Exchange with DMX and on the OTCQX with DMXCF. Helios Star Metals has submitted its Environmental Impact Statement and Environmental Risk Study for the Anapala Underground Gold Project in Mexico, advancing towards a mid-2027 construction decision. The underground design reduces proposed surface disturbance by approximately 65 % compared to the previously approved open pit plan through the elimination of the open pit footprint, dry stack tailings, and the use of tailings as paste backfill underground.

9:05The project is expected to create approximately 1 ,500 construction jobs and 600 permanent positions, primarily from local communities. Heliostar Metals trades on the TSX with HSTR and on the OTCQX with HSTXF. In Mining Americas has reported third quarter gold production of just under 8 ,000 ounces from the Pan Mine in White Pine County, Nevada, bringing year-to-date production to 24 ,786 ounces. The operation maintained an average mining rate of approximately 59 ,000 tons per day during the quarter, consistent with the second quarter and about 31 % higher than the same period last year. Full-year production guidance of 32 ,000 to 38 ,000 ounces remains unchanged.

9:57Mining America's trades on the Toronto Stock Exchange with MAI and on the OTCQX with MAIFF. All right, that's a wrap here this morning on the morning briefing. The MSD Morning Briefing is brought to you by Clear Commodity Network. It is also 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.

10:34Please do your own research or speak with a licensed financial representative before making any investment decisions.