Economic Indicators - December pending home sales are expected to decline by -0.5% month-over-month [1] - Initial weekly unemployment claims are projected to increase by +12,000 to 210,000 [1] - Q3 GDP is anticipated to remain unchanged at +4.3% quarter-over-quarter annualized [1] - November personal spending is expected to rise by +0.5% month-over-month, while personal income is expected to increase by +0.4% month-over-month [1] - The November core PCE price index is forecasted to rise by +0.2% month-over-month and +2.8% year-over-year [1] - January S&P US manufacturing PMI is expected to increase by +0.2 to 52.0 [1] - The final University of Michigan January US consumer sentiment index is expected to remain unchanged at 54.0 [1] Stock Market Performance - The S&P 500 Index is down -1.29%, the Dow Jones Industrials Index is down -1.22%, and the Nasdaq 100 Index is down -1.41% [5] - Overseas stock markets are also lower, with the Euro Stoxx 50 down -1.17%, China's Shanghai Composite down -0.01%, and Japan's Nikkei Stock 225 down -1.11% [8] Earnings Reports - Q4 earnings season has begun positively, with 88% of the 33 S&P 500 companies that have reported beating expectations [6] - S&P earnings growth is expected to increase by +8.4% in Q4, while excluding the Magnificent Seven technology stocks, growth is expected to be +4.6% [6] Commodity and Sector Movements - US natural gas-producing stocks are surging as natural gas prices have increased by more than +25% to a 3-week high [2][16] - Gold and silver mining stocks are climbing as gold and silver prices reach all-time highs, with companies like Hecla Mining and Coeur Mining up more than +4% [2][15] - The Magnificent Seven technology stocks are declining, with Nvidia down more than -3% and other major players like Amazon and Tesla down more than -2% [13] Bond Market - Rising bond yields are impacting stocks, with the 10-year T-note yield reaching a 4.75-month high of 4.31% [3] - The 10-year Japanese government bond yield has risen to a 27-year high of 2.359% due to fiscal concerns [3][9] - The 10-year T-note yield is up by +6.2 basis points to 4.285% [9] Company-Specific News - 3M Co. is down more than -5% after forecasting 2026 adjusted EPS below consensus [17] - RAPT Therapeutics is up more than +62% after GSK Plc agreed to acquire the company for approximately $2.2 billion [18] - Micron Technology is up more than +4% after a price target increase by Stifel [18] - Intel is up more than +2% following an upgrade by Seaport Global Securities [19] - Netflix is up more than +1% after reaching an agreement to buy Warner Bros. Discovery's studio and streaming business [20]

Core Viewpoint - Daura Gold Corp. has successfully completed a significant geophysical survey at the Cerro Bayo Gold-Silver Project, which will aid in defining drill targets for an upcoming drilling program [1][2][4]. Project Highlights - The Induced Polarization (IP) profiling program covered 27 line-kilometers and identified 15 priority drill targets based on previous geochemical sampling and earlier surveys [5][6]. - The completion of seven Pole-Dipole IP survey lines has provided insights into potential mineralization across both northern and southern target areas [4][7]. Drilling Program - A Phase 1 drilling program is planned, consisting of approximately 1,500 meters across 22 diamond drill holes, targeting 15 identified drill sites [6]. - In the northern area, 8 drill targets will be tested with 8 holes for a total of 500 meters, while the southern area will see 7 targets tested with 14 holes for 1,000 meters [6]. Next Steps - In addition to the Q1 2026 drill program, the company has initiated a regional Gradient Array IP survey in the northern part of the license area to support the second phase of drilling [8]. Awareness Campaign - Daura Gold has entered into a service agreement with Resource Stock Digest to create and distribute reports, aiming to enhance awareness and interest in the company [9][11]. - The agreement is set for one year starting February 1, 2026, with a one-time fee of US$100,000, to be paid from the company's working capital [11]. Company Background - Daura Gold Corp. is listed on the TSX Venture Exchange and is actively exploring in Peru and Argentina, focusing on high-impact projects in the Ancash region of Peru and the Cerro Bayo/La Flora Project in Argentina [15][16].

Core Insights - Mithril Silver and Gold Limited has reported significant exploration success at its Copalquin property in Durango State, Mexico, indicating a strong potential for resource expansion and mineralization [1][3]. Exploration Results - Recent drilling at Target 1 has yielded high-grade intercepts, including 1.35 m at 21.9 g/t gold and 357 g/t silver, with notable intervals such as 0.50 m at 57.7 g/t gold and 924 g/t silver [2][13]. - The drilling program has confirmed the vertical continuity of the Refugio 1 structure, with a 300-meter down-dip extension, suggesting further resource expansion potential [5][7]. Geological Insights - The drilling results indicate a broad anomalous silver zone with extensive hydrothermal alteration, which is characteristic of a well-developed hydrothermal system, enhancing the potential for mineralization both along strike and at depth [4][22]. - The presence of a wide alteration halo and significant silver mineralization suggests a robust epithermal system, increasing the likelihood of discovering additional mineralized structures [26][23]. Future Plans - Mithril plans to conduct an aggressive exploration program in 2026, with 25,000 meters of drilling scheduled for the first half of the year, focusing on expanding known mineralized zones and testing new high-priority targets [5][29]. - The company has also added the nearby La Dura property to its portfolio, which will undergo LiDAR and aerial magnetic surveys to further assess its potential [8][29]. Resource Estimation - The maiden mineral resource estimate for Target 1 includes 691,000 tonnes at 5.43 g/t gold and 114.2 g/t silver classified as indicated, and 1,725,000 tonnes at 4.55 g/t gold and 151.7 g/t silver classified as inferred [31][32].

Core Viewpoint - Mithril Silver and Gold Limited has commenced its 2026 drilling program at Target 3 in the Copalquin District, Mexico, following promising channel sampling results, indicating significant gold and silver mineralization potential. Group 1: Drilling Program Details - The maiden drill program at Target 3 will involve approximately 3,300 meters of drilling as part of a larger 25,000-meter drilling plan for the Copalquin District in the first half of 2026 [2][4]. - Recent channel sampling at the El Jabali historic workings in Target 3 returned high-grade results of up to 0.65 meters at 16 grams per tonne (g/t) gold and 1,275 g/t silver [2][7]. - The drilling at Target 3 aims to test the continuity and scale of mineralization, which is crucial for unlocking the broader potential of the Copalquin epithermal system [3][7]. Group 2: Progress on Other Targets - Drilling at Target 1 is expected to be completed in Q1 2026, which will precede an update to the maiden mineral resource estimate (MRE) for that target [4]. - A drone magnetic survey over the Copalquin and La Dura mining concession areas is set to begin this month, with further assay results from 2025 anticipated in the coming weeks [4][5]. Group 3: Project Background - The Copalquin mining district spans 70 square kilometers in Durango State, Mexico, featuring numerous historic gold and silver mines, with ten having notable production [16]. - The district is recognized as a major epithermal center for gold and silver, supported by multiple mineralization events and extensive historic mine workings [17]. - Within 15 months of drilling, Mithril delivered a maiden JORC mineral resource estimate at Target 1, showcasing the high-grade resource potential of the district [18].

Core Viewpoint - Chesapeake Gold Corp. has filed a prospectus supplement to qualify the public distribution of 3,751,500 units at an offering price of $4.20 per unit, aiming for gross proceeds of $15,000,300 in a bought deal public offering [1][6]. Offering Details - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $5.65 within 36 months following the closing date [2]. - The offering is conducted under an underwriting agreement with Red Cloud Securities Inc. as the lead underwriter and Cantor Fitzgerald Canada Corporation as a joint bookrunner [3]. - The underwriters have an option to purchase up to an additional 535,725 units to cover over-allotments within 30 days after the closing date [4]. Financial Terms - The company will pay the underwriters a cash fee of 6% of the gross proceeds, reduced to 2% for certain purchasers on the president's list [5]. - The underwriters will also receive non-transferable broker warrants to purchase common shares equal to 6% of the total units issued, with similar reductions for the president's list [5]. Closing and Regulatory Approval - The offering is expected to close around January 27, 2026, pending necessary regulatory approvals, including from the TSX Venture Exchange [6]. Company Overview - Chesapeake Gold Corp.'s flagship asset is the Metates Project in Durango State, Mexico, which hosts over 16.77 million ounces of gold and 423.2 million ounces of silver in the measured and indicated mineral resource category [11].

Core Viewpoint - Thesis Gold Inc. has filed the Pre-feasibility Study (2025 PFS) for its wholly owned Lawyers-Ranch gold-silver Project, highlighting strong economic metrics including an after-tax NPV5% of C$2.37 billion and an IRR of 54.4% at gold and silver prices of US$2,900/oz and US$35/oz respectively [1][7]. Project Overview - The Lawyers-Ranch Project is located in the Toodoggone District of Northern British Columbia and is fully owned by Thesis Gold Inc. [1][7]. - The 2025 PFS was prepared by a consortium of engineering and consulting firms in accordance with NI 43-101 standards [2]. Economic Highlights - The 2025 PFS indicates a pre-tax IRR of 73.5% and a pre-tax NPV5% of C$3.73 billion, with a quick payback period of 1.1 years [6]. - At higher metal prices of US$4,100/oz for gold and US$51/oz for silver, the project shows a pre-tax IRR of 117.4% and a pre-tax NPV5% of C$6.86 billion [6]. Production Metrics - The project is expected to have strong early production, averaging 266,000 ounces of gold-equivalent (AuEq) annually for the first three years and 187,000 ounces over a 15-year life of mine [6]. - The maiden Mineral Reserve statement reports 76.16 million tonnes of ore with an average grade of 0.97 g/t Au and 28 g/t Ag, resulting in a total AuEq grade of 1.33 g/t [6]. Cost Structure - The average All-in Sustaining Costs (AISC) are estimated at US$1,185 per AuEq ounce, which includes all costs associated with production [5][10]. - Initial capital expenditure is projected at C$736.2 million, with a compelling after-tax NPV5% to initial capital ratio of 3.2:1 [6]. Future Plans - The company has initiated the Environmental Assessment Process and plans to commence a Feasibility Study in 2026 to further advance the project [7]. - There is significant potential for project optimization and exploration that remains untapped [6].

Market Overview - Stocks experienced a decline on Wednesday, with the Dow Jones Industrial Average down 14 points, indicating a nearly flat performance. The S&P 500 decreased by 0.4%, and the Nasdaq Composite fell by 0.7% [1] Oil and Commodities - WTI crude oil futures increased by 0.9%, reaching $61.71, as market participants remained focused on the geopolitical situation in Iran [1] - The price of gold rose by 1%, while silver saw a significant increase of 6.5%, driven by a wave of speculative enthusiasm [1]

Group 1 - McEwen Inc. has received approval from the Mexican government to extend the Environmental Impact Assessment for the El Gallo Mine, allowing the company to begin Phase 1 Mill construction in mid-2026, with the first gold pour expected by mid-2027, producing approximately 20,000 gold Equivalent Ounces annually once commercial production starts [1][2] - The company has purchased a ball mill for the El Gallo site and is already working on Phase 2, which focuses on in-situ silver deposits, potentially extending the mine's life beyond the initial 10 years planned for Phase 1 [2] - McEwen is also expanding its Gold Bar Mine complex in Nevada, aiming to enhance resources and increase mine life, which could lead to higher annual gold production from the Lookout Mountain, Windfall, and Unity Ridge areas [3] Group 2 - McEwen Inc. operates as a development-stage gold and silver mining company with activities in the U.S., Canada, Mexico, and Argentina, focusing on the exploration, development, and production of gold, silver, and copper deposits [4]

Core Insights - Coeur Mining, Inc. (NYSE:CDE) has seen its shares increase by over 215% in the past year, with a consensus Buy rating from six out of eight analysts and a median price target of $22.50, indicating an upside potential of over 14% [1] - Roth Capital has raised the price target for Coeur Mining from $20 to $23, maintaining a Buy rating, reflecting updated estimates for Q4 2025 and beyond [2] - Wall Street anticipates Coeur Mining will report earnings per share of $0.24 for Q4 2025, representing a significant increase of 118% year-over-year, with average revenue projected at approximately $668.70 million, up from $305.44 million year-over-year [3] Company Overview - Coeur Mining, Inc. is a producer of gold and silver in the Americas and also explores for zinc, lead, and other related metals [4]

Core Viewpoint - Tocvan Ventures Corp. has appointed Anna Ladd-Kruger as an independent director to its Board of Directors, bringing extensive experience in the mining industry and a strong focus on governance and ESG [1][4]. Company Overview - Tocvan Ventures Corp. is an exploration and near-term producer focused on advancing gold and silver projects in Sonora, Mexico, holding a 100% interest in over 21 km² of prospective ground [13]. - The company is advancing its flagship Gran Pilar Gold-Silver Project, which has shown significant exploration success, including near-surface drilling results of 3.1 meters at 19.4 g/t Au [13]. Leadership Appointment - Anna Ladd-Kruger has over 25 years of executive leadership experience in the mining sector, having held key roles at various prominent mining companies [2][3]. - Her previous positions include Chair of the Board and Audit Chair at Integra Resources Corp., and Independent Director and Audit Chair at SilverCrest Metals Inc., where she was involved in a US$1.7 billion acquisition [2]. Stock Options Grant - Tocvan's Board of Directors has approved a grant of 300,000 stock options to Anna Ladd-Kruger at an exercise price of $1.18 per share, with 150,000 options vesting immediately and the remaining 150,000 vesting in twelve months [4]. Exploration Highlights - Recent drilling highlights from the Gran Pilar project include: - 83.5 meters at 1.3 g/t Au, including 9.7 meters at 10.3 g/t Au [10]. - 106.8 meters at 0.6 g/t Au, including 3.1 meters at 19.4 g/t Au [10]. - The project has shown robust metallurgical results, with gold recovery rates up to 99% and silver recovery rates up to 97% [13]. Market Position - Tocvan Ventures is positioned for growth in a favorable market environment, buoyed by record-high gold prices and a strategic capital plan to enhance its exploration and development initiatives [13].