Mining Stock Daily

Markets are mostly on hold as investors wait for key Fed verdict and big earnings reports.

There is a one-in-three chance that the Fed raises rates to tamp down inflation. Microsoft will have earnings out today. Apple and Amazon report tomorrow.

Number two diversified miner, Rio Tinto, posted its highest half-year underlying earnings in four years on Wednesday as performance from its copper and aluminium units tied to energy demand, that according to Reuters.

Allied Gold and Zijin Gold have terminated their January 2026 arrangement agreement, under which Zijin had agreed to acquire Allied at C$44 per share in cash for approximately C$5.5 billion, after concluding closing conditions could not be met by the July 29 outside date due to external factors affecting cross-border deals of this scale, despite shareholder approval in March.

Mining Stock Daily also covered news from Auro Metals, Meteoric Resources, Newcore Gold, Sterling Metals, Kingfisher Metals, Surge Copper and Collective Mining.

This episode of Mining Stock Daily is brought to you by Equinox Gold.

Equinox Gold is a growth-focused gold producer operating mines across the Americas. With cornerstone assets like the Greenstone Mine in Ontario and the Valentine Gold Project in Newfoundland & Labrador, Equinox is advancing a new generation of large-scale, long-life gold operations. Learn more about their portfolio and development pipeline at equinoxgold.com.

Pirate Gold Corp. has announced initial visual observations from 13 drill holes spanning a 200-meter strike along the Scurvy Fault within its Treasure Island Project in Central Newfoundland. CEO Denis Laviolette spoke with Mining Stock Daily. The drilling revealed broad zones of deformation, extensive quartz veining, and sulphide mineralization, indicating the presence of a strong orogenic gold system just 1.5 kilometers away from their existing copper-gold target.

The Federal Reserve is meeting for its two-day Federal Open Market Committee (FOMC) meeting. Base case is rates stay the same, but markets see an outside chance for rate hike this week to counter inflation worries.

Yesterday, Citi maintained its bullish copper price targets through the end of the year, citing tighter physical markets, according to a report by Reuters.

The Morning Briefing also covered news from Banyan Gold, Intrepid Metals, Westhaven Gold, Uranium Royalty and Cambria Gold Mines.

This episode of Mining Stock Daily is brought to you by Vizsla Silver.

Vizsla Silver is advancing the Panuco silver-gold project in Sinaloa, Mexico — one of the highest-grade silver development projects in the world. The project hosts the world's largest, undeveloped high-grade silver resource, and the company has been aggressively expanding its drill program to grow that resource ahead of a development decision. Learn more at vizslasilver.ca.

The alteration and sulphide mineralization encountered across Kirkland Lake Discoveries' first six holes at the MZ Zone provide an early indication that the prospective hydrothermal corridor may extend well beyond the historical Mirado deposit footprint, said CEO Stefan Sklepowicz, who was interviewed by Mining Stock Daily. The MZ Zone, located roughly 500 metres west of Mirado, is showing the same alteration signature — silicification, pyrite, chlorite, and epidote — first identified through hyperspectral imaging of hole KLM26-004, supporting KLDC's emerging "shatter-and-fill" interpretation for the broader system. Recent step-out drilling has also materially expanded the near-surface mineralized footprint at Mirado itself. Kirkland Lake Discoveries has assembled a 420-km² exploration portfolio in the Kirkland Lake region of Ontario's Abitibi Greenstone Belt. The company finalized its acquisition of the Mirado asset in the spring of 2026.

Scorpio Gold CEO Zayn Kalyan discusses the company’s latest drilling success at the Manhattan Gold District in Nevada, led by nearly 98 metres grading just over two grams per tonne gold at Goldwedge. Kalyan explains how results from Goldwedge, Zanzibar and Black Mammoth are strengthening the geological model and supporting district-scale expansion. He also outlines the potential for silver as a future by-product, following new multi-element analysis of historic samples. The company recently closed a $10 million financing and remains funded through its next resource update, targeted for early 2027, as Scorpio works toward a two-million-ounce gold resource at Manhattan.