⛏ Osisko Takes Big Hit On Resource Disappointment

PLUS: Japan To Restart Massive Plant

👷‍♀️ Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and go fishing. 🎣

📌 Commodity Prices

Source: Trading Economics, Numerco.

📝 Here are the highlights

😥 Osisko Takes Big Hit On Resource Disappointment

😉 Japan To Restart Massive Plant

🐦 Fomo Friday For Which Mineral?

😥 Osisko Takes Big Hit On Resource Disappointment

Osisko Development Corp. (NYSE: ODV, TSXV: ODV) announces an updated mineral resource estimate for its 100%-owned underground Trixie deposit, within the Company's wider Tintic Project, located in the historic East Tintic Mining District in central Utah, U.S.A.

Highlights:

  • Measured resources: 105,437 oz of gold at 27.36 g/t and 237,868 oz silver at 61.73 g/t.

  • Indicated resources 44,811 oz of gold at 11.17 g/t and 240,211 oz silver at 59.89 g/t.

  • Inferred resources 50,569 oz gold 7.80 g/t and 314,678 oz silver at 48.55 g/t.

Relative to the 2023 Trixie MRE, contained gold ounces in measured and indicated resources decreased by 29% and inferred resources decreased by 79% primarily due to lower estimated grades that incorporated an updated geologic model interpretation and conversion of inferred resources.

Ouch. The stock is down 14.8% on volume that’s about 10x the daily average.

😉 Japan To Restart Massive Plant

Japan's government, aiming to rejuvenate its nuclear power sector, is seeking local approval to restart the world's largest nuclear power plant, Kashiwazaki-Kariwa, managed by Tokyo Electric Power Co. (TEPCO).

Economy Minister Ken Saito will request approval from Niigata Governor Hideyo Hanazumi, marking one of the final steps needed for the plant's operation resumption. The move, part of Japan's broader strategy to decrease reliance on imported fossil fuels, has seen TEPCO's stock rise significantly.

The Nuclear Regulation Authority recently lifted a ban on the plant, which had faced security issues, and the International Atomic Energy Agency pledged technical support to aid TEPCO in regaining public trust.

Very, very nice.

📰 In Other News

🐦 Fomo Friday For Which Mineral?

📮 Other Great Newsletter

Sponsored
The EV UniverseKeep up with the Electric Vehicle industry. Read by over 7,000 EV geeks weekly

How Are We Doing?

Today's mining news was:

Login or Subscribe to participate in polls.

Happy Speculating!

The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

Would you like to update how frequently you receive our emails? 📬

Subscribe to keep reading

This content is free, but you must be subscribed to The Next Big Rush to continue reading.

Already a subscriber?Sign In.Not now

Join the conversation

or to participate.