Mining Stock Daily

Morning Briefing: Gold and Silver Continue Decline on Inflation Fears

Mar 19, 2026
Markets react to geopolitics and hotter inflation data pushing rate expectations. New drill results and high-grade intersections from Scorpio Gold and Galway Metals grab attention. A full-year fiscal update highlights production and a debt-free balance sheet. Drone magnetic surveying maps out a major Sonora gold-silver project. A cobalt sulfate refinery reports construction progress and timelines.
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INSIGHT

Geopolitics And Inflation Create Conflicting Market Signals

  • Markets are pricing both Middle East geopolitical risk and hotter-than-expected U.S. inflation, creating mixed signals for assets.
  • Trevor Hall notes energy is bid on supply fears while gold and silver fall because rising real yields and a stronger dollar offset safe-haven demand.
INSIGHT

Scorpio Gold Extends Mineralization Beyond Resource

  • Scorpio Gold's Phase 2 drill results show step-out mineralization beyond the current inferred resource at Manhattan District.
  • Hole 53 returned 24.69 meters of 0.75 g/t Au and other holes reported ~15–20 m intercepts above 1 g/t, extending the caldera margin target.
INSIGHT

HelioStar Reaches Guidance With High Production Costs

  • HelioStar Metals met full-year production guidance with ~34,000 gold-equivalent ounces but at high AISC.
  • The company reported all-in sustaining costs of $2,028/oz, $47.4M mine operating earnings, $12.4M net income, ~$40M cash, and no debt.
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