Daily Metals Mining Rundown for 14 April 2025 (after-market TSX)

Today’s metal price movements (since Friday’s close) and mining company peer group movements through TSX trading (including earlier ASX movements) include:

Top and bottom 40 daily performing metals mining company stocks (out of 458 in our Peer Table) through TSX trading (including earlier ASX movements) include:

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

• 11 April 2025 - Nickel and cobalt explorer Nordic Resources (ASX:NNL) announced the transformational acquisition of 3 advanced stage gold projects in Finland (where the company’s base metals projects are also located) from gold explorer Northgold AB (STO:NG) in exchange for 70 million newly issued NNL shares and SEK 2 million in cash. The deal is subject to approval by NG and NNL shareholders around end of May 2025. The new NNL shares and any excess cash net of transaction costs etc. will then be distributed to the shareholders of NG in a liquidation process, and NG will be de-listed in Sweden. The acquired assets include:

  • Kopsa gold-copper project - hosts JORC compliant 2025 resource estimate of 23.2 Mt grading 0.85 g/t Au and 0.17% Cu (1.09 g/t AuEq) containing 631,100 oz Au and 38,360t Cu (84.57 Mlbs) for a combined 814,800 oz AuEq (69% in measured and indicated categories)

  • Kiimala Trend gold project - hosts historic resources (which had been historically compliant with Canada’s NI 43-101) at Angesneva deposit stated by NG to be 3.85 Mt grading 1.19 g/t Au containing 147,300 oz Au.

    • Excluding historic non-compliant resources at Vesipera prospect of 0.29 MT grading 2.52 g/t Au.

  • Hirsikangas gold project - hosts historic resources (which had also historically been compliant with NI 43-101) stated by NG and by Rupert Resources (TSX:RUP) before them to be 2.27 Mt grading 1.2 g/t Au containing 89,000 oz Au.

  Together, these historic and compliant NG resources amount to 29.56 Mt with average grade 0.94 g/t Au and 0.13% Cu, which at our Peer Table’s estimated 3-month trailing average amounts to 1.026 Moz AuEq grading 1.08 g/t AuEq (87% from Au), which NNL is acquiring for (A$5.6M in shares at 14 Apr NNL share price of A$0.08 plus A$0.33M in cash for a combined A$5.93M or US$3.6/oz AuEq. Together with NNL’s existing (lower-grade) JORC resources of 2.08 Blbs NiEq (which were 92% from Ni, 7% from Co, 1% from Cu) or 5.2 Moz AuEq in gold-equivalent terms, for an new combined NNL resource inventory (including small share historic resources) of 2.48 Blbs NiEq (6.3 Moz AuEq) - now 77% from Ni, 14% from Au, 6% from Co, rest Cu), resulting in a 19% increase to contained resource metal value from this deal (and now at a higher overall grade). Following this pending acquisition (+70M shares NNL) and pending NNL cap raise announced 14 April 2025 (+47.5M shares), NNL’s shares outstanding will grow from current 147.38M (Google Finance) to 264.88M shares, for a proforma (14 Apr 2025) market cap/unit resource of US$2.1/oz AuEq or $0.005/lb NiEq or $0.009/lb CoEq, which is a 54% discount to our 17-company nickel explorer peer group median $0.011/lb NiEq, a 90% discount to our 79-company gold explorer peer group median $21/oz AuEq (and in-line with our 9-company cobalt explorer peer group median $0.009/lb CoEq).

  

  Location of the three gold projects shown over a geological map of Finland (Source: Nordic Resources)

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