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- Daily Metals Mining Rundown and Peer Table - Free Edition for 19 Feb 2025 (intraday TSX)
Daily Metals Mining Rundown and Peer Table - Free Edition for 19 Feb 2025 (intraday TSX)
Daily rundown of mining company announcements and movements in metal prices and mining equity valuations according to our attached Metals Mining Peer Table, which is a compilation of publicly available information covering 9 important metals and more than 400 mining stocks listed globally, and includes the mineral resource holdings of all 400+ companies and project NPV information for some 140+ developers, all retrieved from the companies' published technical reports.
Host Rock Capital
February 19, 2025
Today’s spot metals price movements intraday TSX (over past ~24 hrs) include:
Today’s top metals mining peer group movers intraday TSX (including ASX movements earlier today) include:
Metals mining company announcements incorporated into today’s Peer Table (resource updates, economic studies, changes in attributable project ownership) include:
Gold (polymetallic) explorer Strickland Metals (ASX:STK) released a mineral resource estimate for it 100%-owned Rogozna project in Serbia, which was reported to be a 23% increase in the project’s gold-equivalent ounces to a reported 6.69Moz AuEq grading 1.2 g/t AuEq (0.61 g/t Au + Cu-Zn-Pb), which included a ~58% higher-grade maiden resource estimate for the Medenovan deposit reported to be 1.28Moz AuEq grading 1.9 g/t AuEq (0.77 g/t Au + Cu-Zn-Ag-Pb) but importantly the estimate still excludes the neighboring Kotlovi prospect where 40m at 2.6 g/t Au from 558m had been drilled among other intersections. Medenovan (and Kotlovi) looks to be a game-changer given its ~58% higher grade than the overall project resources, and while this new mineralization is a bit deeper, it should be just high enough grade to be amenable to underground mining methods, especially at currently high and rising gold prices. And this somewhat marginal underground-mineable grade should also give the stock good torque on a rising gold price relative to peers. STK trades at a market cap/oz resource of US$16.1/oz AuEq - a slight discount to our 61 company gold explorer peer group median market cap/oz of $16.7/oz AuEq.
Kotlovi to Medenovac cross-section (Source: Strickland Metals)
Intermediate (high-grade) gold producer Lundin Gold (TSX:LUG) released its annual resource and reserve update, which resulted in a 12% increase to total resources to a new high 7.06Moz Au measured and indicated resources grading 7.17g/t Au and 5.46Moz Au inferred resources grading 5.27g/t Au, plus silver credits resulting in a 12% increase to our estimated gold-equivalent resources (at our estimated 3-month trailing average metal price) to 9.61 Moz Au. LUG’s high-grade, large-size, low-cost, high-production, and growth potential make it one of the better take-out targets for a major looking to add a globally-dominant high-grade mine to its portfolio.
Senior gold producer Alamos Gold (NYSE:AGI) released its annual resource and reserve update, which increases total gold resources very slightly to 28.2Moz Au (from 28 Moz), demonstrating solid resources (and reserves) replacement.
Silver producer and intermediate gold producer Coeur Mining (NYSE:CDE) released its annual resource update, which increased total gold-equivalent resources slightly to 17.6 Moz AuEq (55% from Au and 38% from Ag) from 17.4 Moz AuEq (at our estimated 3-month trailing average metal prices) including the resources from the recent acquisition of SilverCrest and Las Chispas project in Mexico where the company also operates other mines.
Intermediate gold producer St Barbara (ASX:SBM) released its annual resource and reserves update, which increased total resources slightly to 6.9Moz Au from 6.7Moz Au, demonstrating solid resources (and reserves) replacement.
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