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

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.

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

Read the full transcript

The candid version is on a podcast,
not the earnings call.

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

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.