Morning Briefing: Tether Continues to Add More Gold and Royalty Company Equity to its Portfolio

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. As we begin to wrap up the week, it is Thursday, August 13th. Gold's pulling back this morning off about a half percent to 4 ,383 an ounce. as the front month contract runs into stiff resistance at its 200-day moving average. And the GLD ETF is approaching overbought territory, which may be weighing in on sentiment.

0:46Silver is also softer, down 0.6 to$64.88. Copper is also lower as well, off about 0.35 % to$6.57 a pound. Speaking of copper, Sweden has given Beleden the green light to proceed with its Laver copper mine in northern Sweden. It's a project that would double the country's copper production and increase total European Union copper output by roughly 10%. Those are meaningful numbers in a continent that has been trying to reduce its dependence on imported critical minerals. The project still needs approval from Sweden's Land and Environment Court before it can proceed. Beleden first applied for the mining concession in 2014 and was initially rejected.

1:35They reapplied in 2024 and navigated an appeal process before Wednesday's government ruling. And Tether International has lifted its stake in Metalla royalty and streaming to about 14 % of the company, continuing the stablecoin group's push into Canadian gold royalty companies. The El Salvador-based firm bought about 149 ,000 shares on Monday for approximately$1.36 million at$9.14 per share, bringing its total holding to 13.2 million shares. Tether holds$187.75 billion in assets and added 14 tons of physical gold in Q2, reflecting a deliberate strategy to build hard asset exposure alongside its digital holdings.

2:29We'll get to the news out of the miners and explorers here in a moment, but first a quick mention of today's sponsor. Today's 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, and mine-permitting preparations are ongoing with exploration at BearTrack Arnett in Idaho. Revival Gold is listed on the Venture Exchange with the symbol RVG and trades on the OTCQX market with RVLGF. Learn more about the company at revival-gold.com. Hi, this is Chris Berry, host of the Power Current podcast.

3:13Throughout 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.

3:50And here's what you need to know this morning. Magnum Mining was out with a strong second quarter from the McCready West Copper Precious Metals Nickel Mine in Sudbury, Ontario, reporting record production of 98 ,500 tons processed at 3.34 % copper equivalent, yielding 6.6 million contained copper equivalent pounds and 4.5 million payable pounds. The company noted a record cash margin of$8.9 million and free cash flow of$5.1 million at an all-in sustaining cost of$4.54 per copper equivalent pound. Both the Levesque PEA and the Korean Hill PFS remain on track for Q3, magnum mining trades on the TSX as NICU and on the OTCQX as MGMNF.

4:48Rio 2 is reporting second quarter 2026 results from two operating mines, a Phoenix gold mine in Chile, and the Condestable copper mine in Peru, with consolidated revenue of$105.3 million, driven by copper sales of$52.2 million, gold sales of$47 million, and silver sales of$4.3 million. Phoenix produced just over 9 ,000 ounces of gold at a cash cost of$2 ,701 per ounce and an average realized price of$4 ,268 per ounce, While Condestable turned out just 9.2 million pounds of copper at a C1 cash cost of$2.34 per pound and an all-in sustaining cost of$3.10 per pound. Net income for the quarter was$46.8 million.

5:40Rio2 trades on the TSX as RIO and on the OTCQX with RIOFF. Great Pacific Gold is out with new channel sampling results from the Elamaraca and Cargalio vein system at its Wild Dog Project in East New Britain province of Papua New Guinea. It's showing that both targets are materially larger than the historical vein exposures mapped decades ago. At Elamaraca, a continuous 9-meter channel returned 4.81 grams per ton gold and 41.96 grams per ton silver. and it included peak values of 26.86 grams per ton gold and 233 grams per ton silver. At Cargaglio, the 6-meter channel returned 7.29 grams per ton gold, including 2 meters at 16.2 grams per ton.

6:32And the new quartz sulfide breccia zone, 260 meters east of the historical vein, returned approximately 10 meters of 1.77 grams per ton gold. Great Pacific Gold trades on the Venture Exchange as GPAC and on the OTCQX with GPG-CF. American Pacific Mining has provided a progress update on its 15 ,000 meter Phase 1 drill program at the Madison Copper Gold Project near Silver Star, Montana. It's reporting just over 2 ,000 meters have been completed to date to cross core holes targeting the porphyry and reverse circulation holes targeting near surface scarned and high grade vein zones. Initial assay results are expected in the coming weeks.

7:18Phase 2 drilling of up to 7 ,500 additional meters is planned for this year. I'll focus on areas that return favorable results from the current program. American Pacific Mining trades on the CSE with the symbol USGD and on the OTCQX with USGDF. And Intrepid Metals has identified what it's calling a prospective porphyry alteration corridor at the Corral Copper Project at the Turquoise District of Southeastern Arizona. That's a significant development because of the Corral system has historically been understood as a carbonate replacement deposit. but this is a new detailed mapping has revealed potastic alteration quartz magnetite veins and a b and d type porphyry veins within the crd footprint it's indicating a surface copper mineralization may overlie a bulk tonnage porphyry copper gold system between 300 and 1000 meters depth which the company will now evaluate with a 65 line kilometer ip and mt geophysical survey We'll see how this goes.

8:29Intrepid Metals trades on the TSX Venture Exchange as INTR and on the OTC with IMTCF. All right, that's a wrap here this morning on the morning briefing. We'll get into more corporate updates today and then a long-form conversation tomorrow, so stay tuned with that. The Mining Stock Day of the Morning Briefing 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.

9:12Please do your own research or speak with a licensed financial representative before making any investment decisions. Thank you.