Morning Briefing: Zijin Gold, Allied Gold $5.5B deal no longer going ahead

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. Good morning and welcome back to Mining Stock Daily Morning Briefing. I am Michael McRae, filling in for Trevor Hall. It's Wednesday, July 29th. Markets are mostly on hold as investors wait for key Fed verdict and big earnings reports. There's a 1 in 3 chance that the Fed will raise rates to combat inflation. Microsoft will have earnings out today. Apple and Amazon report tomorrow.

0:41S &P futures are mostly flat, up 0.2%. Nasdaq futures are up about the same. Gold futures are at$4 ,090. Copper futures at$6.32. Number two, diversified miner Rio Tinto posted its highest half-year underlying earnings in four years on Wednesday as performance from its copper and aluminum units tied to energy demand. That, according to Reuters. This episode of Mining Stock Daily is brought to you by Equinox Gold.

1:19Equinox Gold is a growth-focused gold producer operating mines across the Americas with cornerstone assets like Greenstone Mine in Ontario and Valentine Gold Project in Newfoundland and Labrador. Equinox is advancing a new generation of large-scale long-life gold operations. Learn more about the portfolio and development pipeline at equinoxgold.com. Here's what you need to know today. Allied Gold and Zijin Gold have terminated their January 2026 arrangement under which Zijin had agreed to acquire Allied at$44 per share for approximately$5.5 billion Canadian. In a news release, the company said that closing conditions could not be met by the July 29th deadline due to external factors affecting cross-border deals of the scale, despite shareholder approval in March.

2:15Instead, Zijin will make a$295 million US strategic investment via private placement. Or Metals released a third batch of assays from its phase one program at Santa Barbara Gold Copper Project in southeastern Ecuador, headlined by DSB-60's 542 meters, 0.6 grams per ton gold, 0.12 % copper from 198 meters, with gold grade roughly 15 % above the inferred resource. Alongside near surface intercepts like DSB-62's 149.5 meters of 0.66 grams per ton gold and DSB's-63's 143 meters of 0.74 grams per ton gold from surface. All four holes at Santa Barbara South cut wide mineralization from right near surface that remains open up dip and down dip.

3:15ASX-listed Meteoric Resources has signed a memorandum of strategic partnership with POSCO International that would see up to 30 % of rare earth materials from its caldera project in Brazil supplied to POSCO's mine-to-magnet supply chain, with POSCO also exploring strategic financing participation. London-listed Harina Rare Earths has signed a project development funding agreement with the U.S. International Development Finance Corporation, which has committed up to$4.84 million U.S. towards the development of its Madagascar Ionic Clay Rare Earth project. The funding is earmunk for permitting environmental and social studies and proof of concept for the pilot plant supporting a pathway towards a definitive feasibility study.

4:09Nucro Gold's diamond drilling at its Niamh deposit with the Enchi Gold Project in Ghana intersected 3.67 grams per ton gold over 25.3 meters from 307.7 meters depth in hole NBDD088. The highest grade thickness intercept to date at NIAM located below the pit limits that constrain the current mineral reserves. sterling metals hole sc-26-10 at the sue copper project intersected 497.6 meters grading at 0.41 copper equivalent and just four meters outside the down hole including a near surface 358 meters interval of 0.5 percent copper equivalent and high grade 8.5 meter zone of 4.73 copper equivalent within the MEPS discovery, confirming broad continuous copper mineralization from the bedrock surface to over 400 meters depth.

5:08Below the copper zone, the hole discovered a molybdenite-rich breccia, body grading 57 meters at 0.81 % copper equivalent. Breck Mining is closest to$20 million strategic investment in Kingfisher Metals, buying 15.5 million units at$1.35 each to take a 9.9 % non-diluted stake. Serge Copper has nominated three new directors for its September 29th AGM, Artemis' Gold Tony Scott, Skeena's Neline Maureen, and Fornituna director David Farrell. and finally collective mining is voluntarily moving its u.s listing from the nyse america to nasdaq global select under the same cnl symbol last day for nyse training is expected august 10th and nasa training is expected to begin on august 11th the mining stock daily morning briefing is produced by clear commodity network is distributed throughout the world through your podcast network of choice at Clear Commodity Network.

6:23That's it today for everyone. Have a great day. Stay safe. 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.

6:51Thank you.