Daily Metals Mining Rundown for 11 June 2025 (intraday TSX)

Rundown of company announcements, valuations, and underlying metal prices, according to our compilation of publicly available information covering 9 important metals and more than 450 mining stocks, including mineral resource inventories, and including project NPV information for some 150+ developers.

Author

Host Rock Capital
June 11, 2025

Today’s metal price movements (over past ~20hrs) and mining company peer group movements intraday TSX/NYSE trading (including earlier ASX movements) include:

Top and bottom 40 daily performing metals mining company stocks (out of 457 in our Peer Table) intraday TSX/NYSE (including earlier ASX closing prices) include:

Covered metals mining company announcements incorporated into today’s after-market TSX Peer Table (resource updates, economic studies, changes in attributable project ownership) include:

  • 11 June 2025 - Lithium producer Pilbara Minerals (ASX:PLS) announced a mineral resource update for its main Pilgangoora project in Australia, that delivered a 23% increase to contained lithium for that project. PLS stock traded up +5.6% today (11 June) following this news (vs. 9-company Li producer peer group median +0.8%) to a PLS market cap/t resource of US$181/t LCE ($59/oz AuEq) - now a widened 17% discount to Li producer peer group median $219/t LCE ($71/oz AuEq), and well below the ~$1,000-1,500/t valuation range of the major Li producers of the group (SQM, Albemarle, and Rio Tinto), making PLS an attractive, undervalued acquisition target for them (especially if Li prices rise).

  • 11 June 2025 - Lithium brine developer Anson Resources (ASX:ASN) announced a maiden JORC resource for its secondary Green River project SE Utah, USA, which is 40km away form its larger flagship Paradox project. Initial resources at Green River totaled contained lithium of 0.103 Mt LCE (grading 93.5mg/L Li), which increased company resources by ~6% to 1.6 Mt LCE, which trade at a market cap/t of US$30/t LCE ($10/oz AuEq) - just above our 15-company Li brine developer peer group mean of $25/t LCE ($8/oz AuEq) - with premium appearingly attributable to the advanced feasibility-stage of the company´s flagship Paradox asset (and potential synergies with this new nearby Green River resource), which is one of few that has a positive NPV at recent low lithium prices, and trades at a P/NAV of 0.12x - between groups median 0.10x and mean 0.14x - all at our estimated 3-month trailing average lithium price of $9,623/t LCE. ASN stock traded flat today (11 June) following this news. (in-line with peer median of flat +0%).

  • 9 June 2025 - Former lithium clay explorer, now lithium clay developer, Surge Battery Metals (TSXV:NILI) announced a PEA for its flagship Nevada North Lithium Project, delivering a huge after-tax NPV8% of a US$9.2B and (after-tax) IRR of 22.8%, at at Li price of US$24,000/t LCE, from initial (phase 1) capex of US$2.97B, which could become on the radar of the Trump Administration´s signaled support for domestic critical mineral production including lithium. NILI stock has traded up +6.7% over past week (as at 11 June) vs. 9-company Li developer peer group median of flat +0%, to a market cap/t resource of US$8.54/t LCE ($2.79/oz AuEq) - in between our Li developer peer group median of $4.76/t LCE ($1.55/oz AuEq) and mean $8.90/t LCE (2.91/oz AuEq). On P/NAV (market cap/after-tax NPV), NILI trades at 0.004x - a 58% discount to peer group median 0.01x - all at our Reference lithium price of US$20,000/t LCE.

Disclaimer: Provided for informational and educational purposes, and is not intended as investment advice. For full disclosures, visit www.hostrockcapital.com/disclosures.