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Good morning, Investors.
Gold dropped to US$4,108 on Wednesday, its weakest since August 5, and silver sits near US$59 as the 10 year Treasury yield hit 5.35% on Monday, its highest since 2002.
Quick Takeaways
Short on time? Here is the week in three lines.
Aquitaine Metals: C$47.1 million from Kinross and Alpayana at C$7.50 a share to expand drilling in France.
Kirkland Lake Discoveries (TSXV: KLDC): $20.2 million closed with Eric Sprott placing the lead order.
Trekor Metals (TSX: TKO): 41 million pounds of copper in Q3, with Gibraltar 2026 guidance raised to 115 to 120 million pounds.
The News: Aquitaine Metals Corp. (private, unlisted) closed a non brokered placement of 6,278,949 shares at C$7.50 with Kinross Gold and Alpayana S.A.C., raising about C$47.1 million for drilling at its Limousin project in southwest France.
Why It Matters: The raise lifts cash to about C$92 million and implies roughly C$392 million of equity value across 52.2 million shares. The company is unlisted, so retail investors cannot buy it today, and it follows a C$45 million raise on September 11.
Outlook: Phase 1 diamond drilling is underway, so assay results are the next test.
The News: Kirkland Lake Discoveries Corp. (TSXV: KLDC) closed an upsized brokered private placement for $20.2 million, with Eric Sprott placing the lead order and Canaccord Genuity and CFT Financial as agents.
Why It Matters: About 72% is flow through money, which must be spent on Canadian exploration across its 420 km² Kirkland Lake portfolio, after a September hit of 25.85 g/t Au over 3.00 m.
Outlook: Final TSX Venture Exchange approval is pending, and the shares are locked up until February 9, 2027. Flow through spending is due by December 31, 2027.
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The News: Trekor Metals Limited (TSX: TKO) produced 41 million pounds of copper in the third quarter, with Gibraltar at 34 million pounds and Florence Copper at 7 million pounds of cathode.
Why It Matters: Florence started commercial production on October 6, and Trekor raised 2026 Gibraltar guidance to 115 to 120 million pounds from 110 to 115 million.
Outlook: Gibraltar should see lower grades and recoveries in the fourth quarter, while Florence is guided to 25 to 28 million pounds in 2026 and full capacity in early 2027.
Other Important News
Stardust Metal (TSXV: ZIGY): Closed a $14.5 million brokered private placement, one month after its TSX Venture debut.
Galiano Gold (TSX: GAU): Extended two Asanko Gold Mine leases in Ghana to 2041 and 2043, backing its current life of mine plan.
Canamera Energy Metals (CSE: EMET): Received a three year Ontario exploration permit for Schryburt Lake, with about 1,500 metres of first ever drilling mobilizing October 16.
K2 Gold (TSXV: KTO): Rock samples extend the Dragonfly target to 1,000 metres of strike, with Flores samples grading up to 28.8 g/t gold.
Disclaimer: This article is published by Mining Front for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. This commentary is independent and has been prepared without compensation from any of the companies mentioned, and neither Mining Front nor its contributors hold positions in the securities discussed as of the time of this publication, unless explicitly disclosed. Investing in the mining sector is highly speculative and involves substantial risks, including the potential loss of principal; forward looking statements, resource estimates, and production projections are subject to material market and technical uncertainties and should not be relied upon as guarantees of future performance. Readers should conduct their own independent due diligence and consult with a licensed financial advisor before making any investment decision; please read our full legal disclaimer at our Disclaimer Page for further information.
