Mining & Metals · Week of Nov 2, 2026
Q3 earnings and U.S. gold exploration: the week in mining
Quarterly results from Ball, Gold Royalty and Emerson shared the week with a Norwegian copper deal, U.S. gold drilling updates and board appointments.
Earnings dominated the week. Ball Corporation reported a third-quarter GAAP net loss of $94 million tied to a $475 million noncash pension settlement charge, while its comparable diluted EPS rose to $1.10. Gold Royalty Corp. reported third-quarter revenue of $10.2 million, up approximately 147%, and kept its 2026 guidance. Emerson reported full-year 2026 net sales of $18,982 million, raised its quarterly dividend 7% and issued fiscal 2027 guidance. The largest transaction came from ACG Metals, which agreed to acquire Blue Moon Norway AS, including the construction-stage Nussir copper mine, for US$220 million in shares.
Early-stage gold work in the western United States was the other common thread. A2Gold completed a five-hole reverse circulation program at Target Pente in Nevada, though it says assays may take several months because of laboratory backlogs. Relevant Gold received federal and state approvals for 29 drill-pad locations at its Lewiston Project in Wyoming. On governance, U.S. GoldMining added a former PwC partner to its board as it advances the Whistler project in Alaska, and Ramaco Resources said its chairman and CEO was elected to lead the International Energy Agency's Coal Industry Advisory Board.
Ball Corporation
Ball Reports Strong Third Quarter 2026 Results
Ball Corporation reported third-quarter 2026 sales of $4.19 billion and a U.S. GAAP net loss of $94 million, or 36 cents per diluted share, including a $475 million noncash pension settlement charge, while comparable diluted EPS rose 6.8% to $1.10 and global aluminum packaging shipments rose 4.7%. The company says it expects 2026 comparable diluted EPS growth of 10-plus percent and free cash flow in the range of $900 million, and it announced new beverage can plants in Baruth, Germany, and in India.
Gold Royalty Corp.
GOLD ROYALTY REPORTS RECORD THREE AND NINE-MONTH RESULTS WITH CONTINUED STRONG CASH FLOW AND EARNINGS GROWTH
Gold Royalty Corp. reported third-quarter revenue of $10.2 million, up approximately 147% year on year, net income of $3.8 million against a prior-year loss of $1.1 million, and GEOs up approximately 103% to 2,689. The company maintained 2026 guidance of 7,500 to 9,300 GEOs, based on an assumed gold price of $5,150 per ounce, and ended the quarter with no debt and an undrawn $125 million revolving credit facility.
Emerson
Emerson Reports Fourth Quarter and Full Year 2026 Results; Provides Initial 2027 Outlook
Emerson reported fourth-quarter net sales of $5,201 million, up 7%, with underlying orders up 14%, and full-year 2026 net sales of $18,982 million with adjusted EPS of $6.59. The company raised its quarterly dividend 7% to $0.595 per share and guided fiscal 2027 to about 5% sales growth and adjusted EPS of about $7.25, with about $3.8B planned for return to shareholders.
ACG METALS LIMITED
ACG to Acquire 100% of Blue Moon Norway, Including the Construction-Stage Nussir Copper Mine, to Create a High-Growth European Copper Company
ACG Metals Limited agreed to acquire 100% of Blue Moon Norway AS, including a 94.52% interest in the construction-stage Nussir copper mine, for US$220 million in new class A shares at £18.70 per share, with closing anticipated by 30 November 2026. ACG says Nussir is expected to average approximately 18,400 tonnes of copper-equivalent production per annum over 2029–2033, lifting combined output with Gediktepe to over 50,000 tonnes per annum, subject to shareholder and regulatory approvals.
A2 Gold Corp
A2GOLD COMPLETES INITIAL TARGET PENTE RC DRILLING AT EASTSIDE GOLD-SILVER PROJECT
A2Gold Corp. completed five reverse circulation holes totaling approximately 1,936 metres at Target Pente on its Eastside Gold-Silver Project near Tonopah, Nevada, and says all five intersected strong alteration zones. The company ended the program earlier than planned, citing difficult ground conditions and costs, and says assay results may take several months because of laboratory backlogs.
Relevant Gold Corp.
Relevant Gold Receives Expanded Drilling Approvals for the Lewiston Project in Wyoming
Relevant Gold Corp. said the BLM and the Wyoming DEQ approved drilling at 29 drill-pad locations along the Burr and Sweetwater trends at its Lewiston Project in Fremont County, Wyoming, though the company says this is not a 29-hole program. It plans additional holes before the end of the 2026 season, including a reconnaissance step-out approximately 2 km along strike at Burr, after staking 294 claims that take the project to approximately 20,000 acres.
U.S GoldMining Inc.
U.S. GoldMining Appoints John DeLucchi to Its Board of Directors to Support Strategic Growth and Advancement of the Whistler Gold-Copper Project, Alaska
U.S. GoldMining Inc. appointed John DeLucchi, who spent over 35 years at PwC and was CEO of the Madison Group until October 2026, as a director and Chair of the Audit Committee effective November 2, 2026. The company says his background is intended to strengthen financial oversight as it advances the Whistler Gold-Copper Project in Alaska.
Ramaco Resources, Inc.
Randall W. Atkins Elected as Chairman of the International Energy Agency's Coal Industry Advisory Board
Ramaco Resources said Chairman and CEO Randall W. Atkins was elected by unanimous vote as Chairman of the International Energy Agency's Coal Industry Advisory Board, with Vice Chairman Evan Jenkins to chair the board's Associate Members. The board, created in 1979, advises the IEA on coal, energy security, critical minerals and related policy.
This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Times Beats reporting.