The M&E Dispatch // 091

Hello Everyone,

It’s been a week of reflection and gratitude across the mining community. By now, most of you will have heard about the incredible rescue operation at Newmont’s Red Chris gold-copper mine in British Columbia. Three workers were safely rescued after spending more than 60 hours underground following a rock fall. Equipped with refuge chamber supplies and aided by drones and remote-operated vehicles, rescue teams worked tirelessly to ensure everyone emerged safely.

Stories like this hit particularly close to home. My brother works at an underground gold mine, and news of incidents like these instantly triggers a personal, emotional connection. It's a powerful reminder of the courage, resilience, and sheer dedication of those who work underground, facing genuine risks every day. To all those miners out there: thank you. Your hard work does not go unnoticed or unappreciated.

On the business front, Teck Resources announced a substantial investment this week that’s set to keep Canada firmly on the global copper map. The company's board approved a C$2.1–2.4 billion extension at the Highland Valley Copper mine, Canada's largest copper operation. The extension ensures the mine will continue production through at least 2046, maintaining roughly 1,500 jobs and creating an additional 2,900 during the construction phase starting next year.

This decision is about more than just copper. It represents Canada’s strategic positioning in the rapidly growing electronics and clean-tech sectors. With global demand for copper soaring, driven by electric vehicle production and renewable energy infrastructure, maintaining domestic production capacity isn’t just economically prudent—it’s a paramount to Canada’s industrial resilience and future competitiveness.

This is the kind of projects that we should be leaning into. Fast wagers with rapid delivery, let’s get back to the days of taking swings at stuff, not just playing safe and looking for a base hit. Let’s hit some doubles and triples, or let’s strike out entirely.

You’ll never hit a home run simply swinging to get on base, but if you’re swinging for a triple you’re at least in the hunt for a homer.

// The Dirt

Dynacor Reports Record Gold Production in Peru
June output hit 13,865 oz at the company’s Veta Dorada plant, maintaining strong performance as Peru’s top custom gold processor.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/841-tsx/dng/155580-dynacor-reports-record-monthly-gold-production-in-june-2024.html

Foran Mining Closes $150M in Project Financing
Proceeds from the green bond and equity raise will advance the McIlvenna Bay copper-zinc project in Saskatchewan.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2164-tsx-v/fom/155594-foran-mining-announces-closing-of-us-150-million-project-financing.html

Lithium Americas Progresses Construction at Thacker Pass
The team has completed all major foundations, staying on schedule for first production in H2 2026.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/800-nyse/lac/155592-lithium-americas-corp-provides-construction-update-on-thacker-pass-project.html

Arizona Sonoran Permits Expanded Drilling at Cactus Project
New permits allow the company to accelerate step-out drilling around the Parks/Salyer deposit in Arizona.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2713-tsx/ascu/155598-arizona-sonoran-receives-exploration-permits-to-expand-drilling-at-cactus-project.html

Strategic Resources Signs LOI to Acquire Quebec Graphite Project
The acquisition of Lac Knife expands the company’s critical minerals footprint in eastern Canada.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2850-tsx-v/sr/155584-strategic-resources-signs-letter-of-intent-to-acquire-the-lac-knife-graphite-project.html

Northcliff Announces Positive Court Decision for Sisson Tungsten Project
A New Brunswick judge has dismissed a legal challenge, clearing the path for continued permitting.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2706-tsx-v/ncf/155591-northcliff-announces-new-brunswick-court-decision-on-sisson-project.html

NevGold Drills 1.72 g/t Gold Over 58.1m at Nutmeg Mountain
The intercept supports resource expansion potential at the Idaho-based oxide gold project.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2817-tsx-v/nau/155593-nevgold-intercepts-1-72-g-t-oxide-gold-over-58-1-meters-at-nutmeg-mountain.html

Electra Battery Materials Appoints COO to Lead Ontario Refinery Start-Up
The company is moving closer to commissioning its cobalt sulfate facility in Temiskaming Shores.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/800-nyse/elb/155596-electra-appoints-chief-operating-officer.html

Azimut and Mont Royal Launch 6,000m Drill Program at Wapatik Gold-Copper Project
Initial drilling will test high-priority geophysical targets in James Bay, Quebec.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2669-tsx-v/azm/155599-azimut-and-mont-royal-initiate-drilling-at-wapatik.html

Osisko Development Increases Land Package Around Trixie Mine
The acquisition of 3,000 acres expands the Utah-based project’s exploration upside.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/843-tsx-v/odv/155597-osisko-development-expands-land-package-at-trixie.html

// The Hustle

Today’s “The Hustle” is brought to you by the last three days we have to pack and empty the house. Realtors come on Monday.

Have a great weekend all, I’ll catch you on Tuesday.

- Lee