We have a lot of new drill results out this morning. MSD covers the latest from Cabral Gold, Q2 Metals, GreenLight Metals and Scorpio Gold today. Central Asia Metals has announced a proposed all-share acquisition of Cygnus Metals valued at approximately A$232 million. Newcore Gold has increased its 2026 drill program at the Enchi Gold Project in Ghana to 80,000 metres. Integra Resources has appointed Ausenco Engineering USA South as lead partner for detailed engineering at the DeLamar Gold-Silver Project. This episode of Mining Stock Daily is brought to you by... ⁠⁠⁠⁠⁠⁠Revival Gold ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠Vizsla Silver⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠Equinox Gold⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠Integra Resources ⁠⁠⁠⁠⁠⁠

Morning Briefing: Elliott Investment Management Pushes for Sale of Australia's Largest Gold Miner

Mining Stock Daily

# Full Transcript

**Podcast:** Mining Stock Daily

## Participants

- **Trevor Hall** (Clear Commodity Network)

## Transcript

Good morning and welcome back to the Mining Stock Daily Morning Briefing, presented by the Clear Commodity Network and delivering today's top news in mining and mineral exploration. From the new ClearCom Studios, here's your host, Trevor Hall.

Good morning, everybody. Welcome back to the Mining Stock Daily Morning Briefing. This is Trevor Hall and it is Tuesday, June 2nd. Gold's bouncing up over 1% today to $4,559 an ounce on that front month contract. Silver is up about 2% to $76.74. Copper is continuing yesterday's 2.5% move with another 1.3% gain this morning to $6.63 a pound.

For the first time in three decades, gold has overtaken U.S. Treasury as the most important reserve asset held by central banks globally. Central banks now hold approximately $4 trillion in gold versus $3.9 trillion in U.S. government bonds. That's a shift driven by de-dollarization, inflation concerns, and over 1,000 tons of net central bank buying last year alone.

In news out of the Australian mining sector this morning, Elliott Investment Management, that's an $80 billion activist fund, has published a 39-page letter calling on Northern Star Resources to explore a sale of the company. Northern Star is Australia's largest gold miner, currently trading around $18.81 Australian against a 52-week high of $32.73.

Elliott's case? World-class assets destroyed value by poor execution. Seven guidance misses in four years, CEO departed. KCGM mill costs blown from the $250 million Australian to over $1.5 billion. Elliott sees a $42 billion in fair value against a current market cap of $27 billion. And is calling for an immediate strategic review, board refresh, and a new CEO.

Agnico Eagle, Goldfields, Anglo Gold, and Newmont are named as logical buyers. All right, stirring up the pot a little bit down in Australia. We'll get to the news out of the miners and explorers here in just a moment, but first a quick word about today's sponsor. This episode of Mining Stock Daily is brought to you by Vizla Silver. Vizla Silver is advancing the Panuco Silver Gold Project in Sinaloa, Mexico. One of the highest grade undeveloped silver projects in the world.

The project hosts a large near-surface resource with exceptional grades, and the company recently secured a working capital facility with the Mexican government's mining finance institution in support of Panuco's development. You can learn more at Vizlasilver.ca. From power generation to steelmaking, coal still drives the global economy. And the Coal Trader Podcast from Clear Commodity Network is where the industry comes to talk about it.

Join me, Matt Water, and my partner Joe Aldina as we break down the latest trends in thermal and met coal, explore shifting market dynamics, and sit down with industry veterans and executives for unfiltered, insightful conversations. Listen to Coal Trader Podcast on App...

Morning Briefing: Elliott Investment Management Pushes for Sale of Australia's Largest Gold Miner

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Morning Briefing: Elliott Investment Management Pushes for Sale of Australia's Largest Gold Miner

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.