Mining Discovery

“We curate top global news for you.” Morning Chatter April 9 2024


Canadian futures are flat ahead of the Bank of Canada rate decision scheduled on Wednesday. U.S. stock index futures edged higher, while the U.S. dollar dipped as investors awaited crucial March inflation reading due tomorrow. European shares fell in anticipation of the ECB’s monetary policy decision this week. Gains in chip-related stocks pushed Japan’s Nikkei higher as a weaker yen boosted sentiment. Oil prices rose on supply concerns from the Middle East and Mexico. Gold continued its rally for the eight consecutive session

Arras Minerals Corp. (TSXV: ARK) Notice is hereby given that an Annual General and Special Meeting of the shareholders (the “Shareholders“) of Arras Minerals Corp. (the “Company“) will be held at the Company’s head office at Suite 1605 – 777 Dunsmuir Street, Vancouver, B.C., V7Y 1K4, Canada on Tuesday, April 30, 2024 at 10:00 am (Vancouver time) (the “Meeting“). The purpose of the Meeting is to consider and take action on the following matters, as more particularly described in the accompanying management information circular (the “Circular“): receive the Company’s annual audited financial statements for the year ended October 31, 2023, together with the report of the auditors thereon, and related management discussion and analysis; re-appoint Smythe LLP, Chartered Professional Accountants, as the auditor of the Company for the ensuing year and authorize the directors to fix the auditor’s remuneration; set the number of directors at seven (7); elect the directors of the Company for the ensuing year; consider and, if thought fit, approve an ordinary resolution to confirm and re-approve, inclusive of certain amendments, the Company’s equity incentive plan, as set out in Appendix “B” to the accompanying information circular; and transact any other business that may properly come before the Meeting, or any adjournment(s) or postponement thereof.
The Circular will be available on the Company’s website at ( and under the Company’s profile on SEDAR+ ( 
Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR), a Calgary-based energy company focused on the sustainable production and development of thermal energy resources from the Athabasca region of Alberta, Canada, is pleased to confirm that the Company will present at the 2024 BMO Capital Markets & CAPP Energy Symposium, taking place in Toronto, Ontario on April 9 and 10, 2024.
During the event, Mr. Tony Kraljic, Chief Financial Officer and Mr. Robert Loebach, Vice President, Corporate Development and Capital Markets, will conduct one-on-one meetings and give a presentation to attending investors.
About Greenfire
Greenfire is an intermediate, lower-cost and growth-oriented Athabasca oil sands producer with concentrated Tier-1 assets that use steam assisted gravity drainage extraction methods. The Company is focused on responsible and sustainable energy development in Canada, with its registered office located in Calgary, Alberta. Greenfire is an operationally focused company with an emphasis on an entrepreneurial environment and employee ownership. Greenfire common shares are listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol “GFR”. For more information, visit or find Greenfire on LinkedInand X.
StickIt Technologies Inc. (CSE: STKT), an Israeli technology and cannabinoid company, announces its financial results for the year ended December 31, 2023.
Financial Highlights for 2023:
On May 5, 2023, StickIt entered into a Technology License and Distribution agreement with Alta in Canada Inc. granting Alta Inc. a license to utilize its raw materials and engage in the manufacturing of its products.
Significant investment in research and development to support innovation and product development, totaling CAD$101,000.
A notable year with the completion of a reverse takeover (RTO) on October 23, 2023, positioning StickIt for accelerated growth and market expansion.
Concurrently with the completion of the RTO, the Company completed a financing of CAD$441,000, consisting of 1,024,628 subscription receipts for CAD$0.4304 each, that were converted on a 1:1 basis into the Company’s common shares.
 The increase in the operational expenses was primarily attributable to the professional fees as well as the additional services hike associated with the transaction costs of the RTO and the listing with the CSE. Most of these fees were one-time costs.
During 2023 the Company incurred losses of CAD$48,986,000 of which CAD$47,695,000 resulted from registration and issuance costs from the RTO.
Operational Highlights:
Expansion into international markets with the establishment of a joint venture in Bangkok, Thailand, aiming to capitalize on global opportunities for our Extra-C sticks.
Secured a comprehensive patent portfolio, enhancing our competitive edge and underscoring our commitment to innovation. Noteworthy patents include US11582996 B2 in the USA and multiple grants across Europe, Canada, and Israel.
Continued focus on a growth strategy through joint ventures in regions where recreational cannabis is permitted, strengthening our global footprint and market reach.
Eli Ben-Haroosh, CEO, remarked, “Poised for ongoing expansion and deeper market reach into 2024 and further, StickIt aims to exploit its formidable patent stance, broaden its worldwide joint venture approach, and persist in innovation within the realm of cannabinoid accessories. The management team upholds a pledge to enhance shareholder value and seize the extensive possibilities in the leisure and medical cannabis arenas.”
Sophie Galper Komet, CFO, stated, “2023 emerged as a cornerstone for StickIt, highlighted by our major technological progress and deepening dedication to novelty via a strong patent collection. Finalizing the reverse acquisition laid a firm base for the upcoming expansion. Looking ahead, the prospect of penetrating international arenas excites us, with a resolve to utilize our pioneering technology to secure a notable share.”    

Electric Royalties Ltd. (TSXV: ELEC)(OTCQB:ELECF) announce that, further to the amended and restated letter of intent described in its March 6, 2024 news release (the “LOI“), the Company has entered into an Asset Purchase Agreement with 1544230 Ontario Inc., MK Exploration Services Inc., and Gravel Ridge Resources Ltd. (together, the “Vendors“), dated April 8, 2024, to acquire a portfolio of 18 royalty agreements and 32 lithium properties in Ontario, Canada, selected for their prospectivity after Company due diligence (the “Transaction“).

31 of the 32 properties are currently being explored by third parties pursuant to option agreements and, to the extent that the applicable option payments (yielding the Company up to C$2.2 million) are made over the next two and a half years and the options are exercised, each of the properties would revert into royalty interests for Electric Royalties. Electric Royalties would retain its ownership interest in any properties that are not ultimately transferred to an optionee and would have the right to re-option, sell, or relinquish the released properties.

Transaction Terms

The Company will issue to the Vendors an aggregate of 2,250,000 common shares in the capital of the Company (the “Consideration Shares“), make a cash payment (the sum of C$1,875,000 less the (i) C$75,000 non-refundable exclusivity fee already paid; (ii) the amount of certain payments received by the Vendors under certain earn-in, option, royalty, or similar agreements on or after January 1, 2024; and (iii) 50% of any proceeds received by the Vendors for the sale of certain property interests described in the LOI on closing of the Transaction (“Closing“).

Completion of the proposed Transaction is expected during April 2024 and remains subject to a number of conditions, including: the satisfactory completion of due diligence; the receipt of TSX Venture Exchange approval for the issuance of the Consideration Shares, the receipt of certain third party approvals with respect to certain royalties and lithium properties under option and the receipt of any other required regulatory or third party approvals.

SOURCE: Electric Royalties Ltd.

View the original press release on

Guanajuato Silver Company Ltd. (TSXV: GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) announce selected financial information and consolidated production results for the year ended December 31, 2023. The Company’s consolidated financial statements for the year ended December 31, 2023 and Management’s Discussion and Analysis (“MD&A”) thereon can be viewed under the Company’s profile at All dollar amounts are in US dollars (US$) and prepared in accordance with IFRS Accounting Standards (IFRS) as issued by the International Accounting Standards Board. Production results are from the Company’s wholly owned El Cubo Mines Complex (“El Cubo“), Valenciana Mines Complex (VMC), and San Ignacio Mine (“San Ignacio“) located in Guanajuato, Mexico, and the Topia Mine (“Topia“) located in Durango, Mexico.
Selected 2023 Highlights:
Record production for 2023 of 3.5 million silver-equivalent ounces (“AgEq“) representing a 64% increase over 2022; total AgEq ounces are derived from 1,756,911 ounces of silver, 16,987 ounces of gold, 3,555,466 pounds of lead and 3,868,262 pounds of zinc. (See note to table below for assumptions regarding the Company’s AgEq calculations).
Silver production of over 1.7 million ounces is a 74% increase over 2022; Guanajuato Silver is a primary silver producer; approximately 52% of revenues were derived from silver production in 2023, and approximately 40% of revenue came from gold.
Record lead and zinc production of 3.5M pounds and 3.8M pounds respectively; zinc production demonstrated a 100% increase over 2022, while lead production was 164% higher over the same period. All lead and zinc production comes exclusively from the Company’s Topia mine located in northwest Durango.
2023 saw average silver recoveries of 84.5% and average gold recoveries of 88.8%.
Total tonnes mined was up 46% over 2022, reflecting the continued ramp-up of production at all four producing silver mines; total tonnes milled was up 42% over same period.
Record revenue for 2023 of $66.1M representing a 79% increase over 2022; consolidated revenue for the year was generated by a realized average price of $23.41 per silver ounce, $1,947 per gold ounce, $0.97 per pound of lead, and $1.22 per pound of zinc.
James Anderson, Chairman and CEO said, “We have successfully navigated through a particularly challenging year for the junior mining industry; we emerge from this period with vastly improved assets in terms of production efficiency, scale, and economics. All four of our producing silver mines were the beneficiaries of major capex investments in 2022; these adjustments and upgrades are already positively impacting performance as we continue to build Guanajuato Silver into a mid-tier precious metals producer.
SOURCE: Guanajuato Silver Company Ltd.
View the original press release on        
i-80 Gold Corp. (TSX: IAU) (NYSE:IAUX) announce that it has entered into an agreement with National Bank Financial Inc., as lead underwriter, on behalf of a syndicate of underwriters (collectively, the “Underwriters”) under which the Underwriters have agreed to purchase, on a bought deal basis, 51,882,000 units of the Company (“Units”) at a price of C$1.65 per Unit for gross proceeds of C$85,605,300 (the “Offering”). Each Unit is comprised of one common share (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$2.15 for a period of 48 months following the closing of the Offering.
The Company has also granted to the Underwriters an over-allotment option to purchase an additional 15% of the base Offering, for additional gross proceeds to the Company of up to C$12,840,795, to acquire Units, Common Shares and/or Warrants (or any combination thereof), at the Underwriters’ discretion, and shall be exercisable by the Underwriters, in whole or in part, for a period of 30 days from and including the closing date.
The net proceeds of the Offering, inclusive of the over-allotment option if exercised, will be used to advance the development of the Company’s mineral properties and for general corporate purposes, as more particularly described in the short form prospectus. The Units will be offered in all provinces of Canada, except for Quebec, by way of a short form prospectus, and in the United States to “qualified institutional buyers” pursuant to an exemption from registration under the United States Securities Act of 1933, as amended, and in such other jurisdictions outside of Canada in accordance with applicable law.
The Offering is expected to close on or about April 25, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE American.
Sirios Resources Inc. (TSXV: SOI; OTCQB: SIREF)  announce that Sirios has signed an agreement with Brunswick Exploration Inc. (“Brunswick”) granting it the right to purchase a 0.5% Net Smelter Return (“NSR”) held by Sirios on 8 claims that are part of Brunswick Exploration’s Mirage lithium property located in Eeyou Istchee James Bay (ref. : 29/08/2023 Press Release).
Under the terms of the purchase agreement, Brunswick shall:
Make a cash payment of $50,000 within five business days of the agreement’s effective date;
Pay installments in cash, shares or a combination of both subject to a minimum 25% in cash (share amount calculated based on 10-day Volume Weighted Average Share Price preceding the date of the payment and subject to a $0.40 minimum share price) to Sirios according to the following schedule:
$100,000, on or before a three-month period;
$100,000, on or before a six-month period;
$100,000, on or before a nine-month period.

Upon start of mineral extraction over the claims covered by this agreement, Brunswick will make a further milestone payment to Sirios of $250,000 in cash or an amount in shares (subject to a $0.40 minimum share price) or a combination of both, at Brunswick’s discretion.

About Sirios
Sirios Resources is a Quebec-based mineral exploration company focused on developing its portfolio of high-potential gold properties in Eeyou Istchee James Bay, Canada.

About Brunswick Exploration
Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Canada.

InvestorTalk with Dr. Luisa Moreno from Defense Metals Corp. (TSXV: DEFN | OTCQB: DFMTF) 9:00-9:20 AM EST  Tuesday, April 9, 2024 
InvestorTalk with John Carter from Silver Bullet Mines Corp. (TSXV: SBMI | OTCQB: SBMCF) 9:00-9:20 AM EST Wednesday, April 10, 2024 
Join Zoom Meeting — Click Here
Any questions, please contact 647 289 7714. 

World Markets
Euro STOXX 50 futures were down 9 points at 4,991, FTSE futures lost 0.5 point to 7,958.5, and German DAX futures dropped 30 points at 18,532, by 0430 GMT.

Industrial metals prices extended their gains with expectations of a worldwide manufacturing rebound, while Asian shares crept up a little more cautiously ahead of this week’s U.S. inflation data and a crucial European Central Bank meeting.

Oil prices rose after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza and ease tension in the Middle East.

S&P 500 Index Mini Futures: 5,256; up 0.05%; 2.75 points
DJIA Mini Futures: 39,214; down 0.01%; 5 points
Nikkei: 39,684.76; up 0.86%; 337.72 points
MSCI Asia, Ex-JP: 541.98; up 0.68%; 3.68 points
EUR/USD: $1.0858; down 0.01%; 0.0002 point
GBP/USD: $1.2657; up 0.01%; 0.0001 point
USD/JPY: 151.89 yen; up 0.05%; 0.08 point
Spot Gold: $2,344.50; up 0.24%; $5.61
U.S. Crude: $86.57; up 0.16%; $0.14
Brent Crude: $90.59; up 0.23%; $0.21
10-Yr U.S. Treasury Yield: 4.4098%; down 0.014 point
10-Yr Bund Yield: 2.4340%; down 0.006 point
(07:27 EDT)
Markets were little changed yesterday as treasuries rose ahead of a key inflation report this week. The Dow Jones Industrial Average fell just 0.03% and the S&P 500 ticked down 0.04%. The tech-heavy Nasdaq Composite rose 0.03%. The rate on the benchmark 10-year Treasury note rose about 4 basis points to 4.42%. Investors are waiting for March’s consumer price index report on Wednesday as the latest gauge on inflation. CPI is expected to show an increase of 0.3% last month, according to economists polled by Dow Jones.
Applied Materials Inc: The largest maker of semiconductor equipment in the U.S. may postpone or abandon its plans to build a $4 billion research and development facility in Silicon Valley due to a lack of government funding, the San Francisco Chronicle reported on Monday citing sources familiar with the matter. The Biden administration said last month it would scrap plans to fund the program from the $52.7 billion Chips and Science Act due to “overwhelming demand” for funding awards to subsidize chip production. Applied Materials did not immediately respond to a Reuters request for comment.

Blackstone Inc: The company is closing in on a deal to take Hong Kong-listed skincare company L’Occitane International SA private, Bloomberg News reported, citing people familiar with the matter. The $5.55-billion French cosmetics company halted trading in its Hong Kong shares earlier in the day ahead of a likely announcement spelling out details on any takeover plans. The U.S. private equity giant may join hands with L’Occitane’s billionaire owner Reinold Geiger, according to the report. Blackstone has been exploring a deal with L’Occitane, but the structure of the deal is not immediately clear, a person with knowledge of the matter told Reuters, requesting anonymity as the information was private. Blackstone declined to comment, while L’Occitane could not be immediately reached.

Bloom Energy Corp: The fuel-cell manufacturer will receive up to $75 million in federal tax credits for its manufacturing plant in Fremont, California, the company said on Monday as it looks to expand capacity. The funding is part of the $4 billion tax credits recently unveiled by the Biden Administration to speed up domestic clean energy manufacturing and reduce greenhouse gas emissions at industrial facilities. “These funds will enable us to invest in the operational efficiency of our Fremont facility and accelerate the expansion of our stack capacity,” said CEO KR Sridhar. Bloom’s Fremont plant, which opened in 2022, can produce more than 1 gigawatt annual output, equivalent to the capacity of adding a nuclear power plant every year, according to the company.

Boeing Co: The global airline industry is facing a summer squeeze, with travel demand expected to surpass pre-pandemic levels while aircraft deliveries drop sharply due to production problems at Boeing and Airbus. Air carriers are spending billions on repairs to keep flying older, less fuel-efficient jets, and paying a premium to secure aircraft from lessors. But some carriers are still being forced to trim their schedules to cope with the lack of available planes. At the same time, the number of travelers globally is set to hit historic levels, with 4.7 billion people expected to travel in 2024 compared with 4.5 billion in 2019. Passenger carriers will receive 19% fewer aircraft this year than they expected because of production issues at Boeing and Airbus, said Martha Neubauer, senior associate at AeroDynamic Advisory. U.S. carriers will receive 32% fewer aircraft than planned a year ago because several airlines depend on Boeing’s 737 MAX planes, Neubauer said. Boeing’s production has been curbed after a January mid-air panel blowout.  Airlines are spending 30% more on aircraft leases than before the pandemic, said John Heimlich, chief economist at Airlines for America (A4A) that represents major U.S. carriers.

Chevron Corp: The U.S. energy company has quit the Yadana natural gas field in Myanmar, a spokesperson said on Monday, more than two years after it condemned violence and human rights abuses there and announced it would leave.  Rather than being sold, Chevron’s 41.1% stake in the gas field was redistributed to the remaining shareholders, Thailand’s PTT Exploration and Production and state-owned Myanma Oil and Gas Enterprise (MOGE). PTTEP, operator of the gas field, said on Friday its stake in Yadana had increased to 62.96%. “The withdrawal gives effect to our intention to exit Myanmar in a controlled and orderly manner, following the February 2021 coup, and ongoing humanitarian crisis,” a Chevron spokesperson said. 

Microsoft Corp: The tech giant will invest about $2.9 billion over the next two years to boost its artificial intelligence (AI) business in Japan, the Nikkei newspaper reported citing the company president. The U.S. tech firm will announce the plans soon when Japanese Prime Minister Fumio Kishida visits the United States, the Nikkei said in its interview with Microsoft President Brad Smith. Under the plan, Microsoft will install advanced AI semiconductors at two existing facilities in eastern and western Japan, the report said. The company also plans to announce an AI-related reskilling program in Japan to train 3 million workers over three years, and to set up a new lab in Tokyo for research and development on robotics and AI, the report said.

Pfizer Inc: The drugmaker said its respiratory syncytial virus (RSV) vaccine Abrysvo was well tolerated and generated an immune response in higher risk adults under the age of 60 similar to that in older adults, for whom the shot is already approved. Pfizer said it plans to submit its findings from the trial to seek expanded approval of the vaccine in adults ages 18 to 59, but did not give a time frame for when it expects the data to be considered by regulators. Pfizer did not say whether it expects to be able to expand Abrysvo’s label in time for the 2024-25 respiratory virus season.

Southwest Gas Holdings Inc: The company’s Centuri Holdings unit said on Monday it is seeking a valuation of up to $1.8 billion in its initial public offering in the United States. Centuri, which builds and maintains energy networks that power millions of homes and businesses across the U.S. and Canada, said it plans to raise about $260.4 million by offering 12.4 million shares priced between $18 and $21 apiece, according to a regulatory filing. Icahn Partners LP and Icahn Partners Master Fund LP, the investment entities affiliated with billionaire Carl Icahn, have agreed to buy nearly 2.6 million shares of Centuri in a private placement at a price per share equal to its IPO price, Centuri said. Centuri, which has more than 12,500 employees and operates across 43 U.S. states and two Canadian provinces, plans to list on the New York Stock Exchange under the symbol “CTRI”.

Tesla Inc: The electric vehicle manufacturer has settled a lawsuit over a 2018 car crash that killed an Apple engineer after his Model X, operating on Autopilot, swerved off a highway near San Francisco, court documents showed on Monday. The settlement was made on the eve of the trial over the high-profile accident involving Tesla’s driver-assistant technology. The settlement, the terms of which were not disclosed, came as Chief Executive Elon Musk is making major promotions of self-driving technology, which he has touted as key to the financial future of the world’s most valuable automaker. Separately, a Tesla founder and former chief executive said it was a “shame” to hear that the automaker was scrapping its low-cost car plans amid fierce competition in China.
Europe / Asia

Futures traders have reduced bets on how much the Federal Reserve will cut rates this year to the lowest level since October, LSEG data showed, amid evidence of continued strength in the U.S. economy.

An early Easter boosted food spending in Britain last month, lifting retail sales by the most since August, but the broader picture remained subdued as wet weather dampened demand for other goods, the British Retail Consortium said.

The European Court of Human Rights decides on Tuesday whether insufficient government action on climate change can amount to a human rights violation, in three rulings that could give legal leverage to climate activists across the continent.​

UBS is in talks to acquire full ownership of its China platform by swapping its holding in Credit Suisse‘s onshore securities venture with a Beijing government investment fund, Bloomberg News reported. 

Shell is looking at “all options” including switching its listing to New York from London, according to comments made by the company’s CEO in a piece published by Bloomberg Opinion.

Spanish holding vehicle Criteria, the main shareholder in Caixabank, announced it had raised its stake in Telefonica to 5.007% from a previously reported 2.69%. 
American International Group Inc & Corebridge Financial Inc: British insurer Aviva said it had completed the 453 million pound acquisition of AIG’s UK life insurance business, sealing the largest takeover under CEO Amanda Blanc to date. Aviva announced the deal in September. The company is buying the unit – known as AIG Life UK – from Corebridge Financial Inc, a New York-listed company majority-owned by AIG. Blanc said last month that Aviva would continue to look for “selective” acquisitions, after announcing a full-year profit that beat analyst forecasts. Aviva in March agreed an acquisition to re-enter the historic Lloyd’s insurance market with a 242 million pound deal to buy insurance platform Probitas.
BP Plc: The company said it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months. The oil major also expects strong results in oil and gas trading, along with a $100 million-$200 million boost from improved oil refining margins. Lower realised prices, however, will mean a hit of $200 million to $400 million to its gas and low-carbon energy segment, BP said in its first trading outlook for 2024. For oil, lower realised prices will mean an adverse impact of between $300 million and $600 million, it said, due in part to price lags on its production in the U.S. Gulf of Mexico and the UAE. BP is scheduled to report its results on May 7.
HSBC Holdings Plc: HSBC is selling its business in Argentina and booking a $1 billion loss on the deal, the bank said on Tuesday, as it continues to shrink its once globe-spanning empire to focus on Asia.  HSBC is selling the business, which covers banking, asset management and insurance, to Argentina’s fifth largest bank Grupo Financiero Galicia for $550 million, the British bank said. HSBC CEO Noel Quinn has sought to simplify the sprawling lender to improve performance by exiting several markets in which it has under-performed, including France and Canada. The sale also fits with the bank’s Asia pivot strategy as it shifts capital, especially to India and China. Separately, the lender plans to accelerate the expansion of its wealth business in China despite economic headwinds and is on track to nearly double its headcount by next year, its global wealth head said, as the lender pushes ahead with its Asia pivot strategy.
Pegatron is in advanced talks to hand over control of its only iPhone manufacturing facility in India to the Tata Group, said two sources with direct knowledge, marking the Taiwanese firm’s latest scale back of its Apple partnership.
Bain Capital plans to sell stake worth $429 million in Indian private lender Axis Bank on Tuesday, according to a term sheet seen by Reuters.
Automaker Tata Motors said on Monday its Jaguar Land Rover’s fourth-quarter sales rose 11% from a year earlier to 114,038 units, driven by increased production and sustained global demand.
Source (but not limited too) Reuters, CNBC, Financial Post, Financial Times, Globe & Mail, InvestorIntel, Kitco, Refinitiv

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