Core Viewpoint - OR Royalties Inc. has successfully amended its revolving credit facility, increasing its total availability to $850 million and converting it to a U.S. dollar denominated facility, reflecting confidence in its long-term growth prospects [1][2][4]. Credit Facility Details - The amended Credit Facility provides access to $650 million with an additional uncommitted accordion of up to $200 million, totaling $850 million, compared to the previous maximum of C$550 million [2]. - Advances under the amended Credit Facility will incur interest at the Secured Overnight Financing Rate (SOFR) or Canadian Overnight Repo Rate Average (CORRA) plus 1.45% to 2.75% per annum, based on the Company's leverage ratio, consistent with the previous agreement [3]. - The Credit Facility has a term of four years, maturing on May 30, 2029 [3]. Management Commentary - The President & CEO of OR Royalties emphasized that the expansion of the Credit Facility highlights the strength of the asset portfolio and positions the company well for strategic growth opportunities [4]. - The company has achieved a positive net cash position due to robust operating cash flows and disciplined capital allocation, reinforcing its financial foundation [4]. Acquisition Update - OR Royalties holds 4,000,000 shares of MAC Copper, valued at $49.0 million under a binding acquisition agreement with Harmony Gold Mining Company, expected to strengthen OR Royalties' balance sheet upon closing [5]. Company Overview - OR Royalties Inc. is an intermediate precious metal royalty company with a North American portfolio of over 195 royalties, streams, and precious metal offtakes, including 21 producing assets, anchored by a significant net smelter return royalty on the Canadian Malartic Complex [6].

Core Viewpoint - Comstock Inc. has amended its Membership Interest Purchase Agreement to sell its Northern Targets and a membership interest in Pelen LLC to Mackay Precious Metals Inc. for a total of $2.95 million and a 1.5% NSR production royalty on extracted minerals [1][2][6] Financial Summary - The purchase price has been increased from $2.75 million to $2.95 million, with an additional cash component of $1.2 million [2] - Comstock has already received $1.0 million in cash, with the remaining $1.95 million to be paid in installments by August 30, 2025 [2] - The total revenue recognized from the previous lease and the current sale amounts to over $6.7 million, including $3.77 million from lease payments since June 30, 2023 [4][6] Asset Details - The Northern Targets include the Gold Hill and Occidental Lode claim groups located in Storey County, Nevada [5] - Mackay will also transfer approximately 300 acres of mining properties in Lyon County to Comstock at no additional cost, expanding Comstock's mineral claims [3][6] Strategic Implications - The Northern Targets were not integral to Comstock's development plans, which focus on the central and southern parts of the district [6] - The transaction is viewed positively as it allows Comstock to advance its plans for the Dayton and Lucerne resources and expand its gold and silver resource potential [6]

Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, maintains its holdings at 935.65 tons as of June 5, 2025, amidst fluctuating gold prices influenced by market sentiment and economic data [2][7]. Group 1: Gold ETF Holdings - As of June 5, 2025, SPDR Gold Trust's total holdings remain unchanged at 935.65 tons of gold [2][7]. - The gold price experienced volatility, peaking above $3400 per ounce before closing at $3352.65, down $19.39 or 0.58% [7]. Group 2: Market Influences - Poor economic data from the U.S., including higher-than-expected initial jobless claims, has increased expectations for a Federal Reserve rate cut, contributing to gold price fluctuations [7]. - Metals Focus predicts that global central banks will purchase 1000 tons of gold in 2025, marking the fourth consecutive year of significant gold buying [7]. Group 3: Technical Analysis - Technical indicators suggest a bullish trend for gold, with resistance levels at $3400, $3438, and $3450, while short-term support is at $3300 [9]. - The gold market shows a strong momentum, with the relative strength index (RSI) around 57, indicating a prevailing bullish sentiment [8]. Group 4: Silver Market Dynamics - Silver has shown stronger recent performance, reaching its highest level since February 2012, with a current gold-silver ratio of 94, down from 105 in April [8]. - Analysts warn of potential volatility in the silver market, predicting possible sharp movements in either direction [8].

Core Viewpoint - Silvercorp Metals Inc. has filed its fiscal 2025 annual report on Form 40-F with the U.S. Securities and Exchange Commission, which includes audited financial statements and management's discussion [1][2] Company Overview - Silvercorp is a Canadian mining company engaged in the production of silver, gold, lead, and zinc, with a strong history of profitability and growth potential [3] - The company's strategy focuses on generating free cash flow from long-life mines, organic growth through extensive drilling, ongoing merger and acquisition efforts, and a long-term commitment to responsible mining and ESG [3]

Core Viewpoint - NOVAGOLD Resources Inc. has successfully completed the full exercise of the underwriters' option, resulting in the sale of an additional 7,177,500 common shares at a price of $3.75 per share, leading to increased net proceeds of approximately $195.2 million from the public offering [1][2]. Group 1: Financial Details - The total number of common shares sold in the public offering has increased to 55,027,500 shares [2]. - The net proceeds from the offering, after deducting underwriting discounts and offering expenses, amount to approximately $195.2 million [2]. - The company intends to use approximately $25.6 million of the net proceeds for general corporate purposes, including expenses related to updating the Donlin Gold Feasibility Study [3]. Group 2: Underwriters and Regulatory Information - Citigroup, RBC Capital Markets, BMO Capital Markets, and Canaccord Genuity acted as joint book-running managers for the public offering [4]. - A shelf registration statement on Form S-3 was filed with the SEC on April 23, 2025, and became effective upon filing [5]. Group 3: Company Overview - NOVAGOLD is focused on the development of the Donlin Gold project, which is located in Alaska and is considered one of the largest and highest-grade open-pit gold deposits globally [7].

Core Points - Asia Broadband Inc. has announced a new stock dividend of 1 share for every 35 shares owned, totaling over 100 million restricted shares to be distributed [1][2] - The company is finalizing the dividend record date and distribution details with its transfer agent, with further announcements expected next week [1] - All past dividend shares submitted will be released from restrictions immediately [2] Company Overview - Asia Broadband Inc. focuses on the production of precious metals and the accumulation of physical gold holdings, leveraging geographic expertise and industry contacts to expand its operations in Mexico [3] - The company has a digital assets segment, including a gold-backed cryptocurrency and unique NFT collections, aiming to establish a stable and trusted standard of exchange [3]

Group 1 - A-Mark (NASDAQ: AMRK) reported a strong revenue increase of 14.9%, but its stock fell over 50% from its peak [1] - The decline in stock price is attributed to a significant drop in gold sales by approximately 20% [1] - Silver sales also contributed to the overall negative performance, although specific figures were not provided [1] Group 2 - The analyst has over 10 years of experience researching various companies across multiple sectors, including commodities and technology [1] - The focus of the analyst's research has been on metals and mining stocks, with a comfort level in other industries such as consumer discretionary, REITs, and utilities [1]

Group 1 - Endeavour Silver Corp. held its 2025 Annual General Meeting where shareholders voted in favor of all items of business, with a total of 137,600,042 votes cast, representing 50.23% of outstanding common shares [1] - All director nominees were re-elected, with the following voting results: Rex J. McLennan received 82.59% in favor, Margaret M. Beck 98.83%, Daniel Dickson 99.22%, Amy Jacobsen 99.06%, Angela Johnson 98.08%, Kenneth Pickering 84.05%, and Mario D. Szotlender 98.34% [1] - Shareholders voted 98.50% in favor of setting the number of directors at seven and 86.58% in favor of re-appointing KPMG LLP as auditor [2] Group 2 - Ricardo Campoy retired after 14 years on the Board, and the Company expressed gratitude for his leadership and contributions [3] - Endeavour Silver is a mid-tier precious metals company focused on sustainable mining practices, with operations in Mexico and Peru, and is developing a new cornerstone mine in Jalisco state [4] - The Company has a portfolio of exploration projects in Mexico, Chile, and the United States, aiming to become a premier senior silver producer [4]

Core Viewpoint - SSR Mining (SSRM) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [3][5]. - Institutional investors often adjust their valuations based on earnings estimates, leading to significant stock price movements when they buy or sell large amounts of shares [3]. Company Performance Indicators - SSR Mining is projected to earn $1.09 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 289.3% [7]. - Over the past three months, the Zacks Consensus Estimate for SSR Mining has risen by 10.7%, indicating a positive trend in earnings estimates [7]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [6]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, highlighting SSR Mining's strong position in terms of earnings estimate revisions [8][9].

Core Insights - Endeavour Silver Corp. reported positive drill results from its Pitarrilla project in Durango, Mexico, indicating high-grade silver, zinc, and lead mineralization, which enhances confidence in upgrading existing mineral resources [1][22]. Drill Results - Significant drill results from the Danna vein include a wide mineralized interval of 7.4 meters with grades of up to 1,127 grams per tonne (gpt) silver, 1.40% lead, and 4.36% zinc, translating to 1,319 gpt silver equivalent (AgEq) over 2.08 meters estimated true width (ETW) [7]. - Drill hole BPU-022 intersected 247 meters of apparent width with 254 gpt AgEq, with true width estimated at approximately 400 meters wide and up to 100 meters high in some areas [10][15]. - The Manto Pitarrilla structure showed high-grade intervals, including 2,680 gpt silver, 24.03% lead, and 18.90% zinc for 3,987 gpt AgEq over 0.60 meters in hole BPU-022 [4][15]. Geological Context - The Pitarrilla deposit consists of three mineralized domains and at least four identified sulphide mineralized veins, with structures extending from below marine sediments through Manto Pitarrilla into upper volcanics [5][6]. - The geological re-logging of historical drill core has improved understanding of the deposit's geology and mineralization controls, focusing on high-grade feeder structures believed to be the main conduits for mineralization [22][23]. Project Overview - The Pitarrilla project is a large undeveloped silver, lead, and zinc project located 160 kilometers north of Durango City, covering 4,752 hectares across five concessions, with significant infrastructure and key permits already in place for underground mining and development [24].