Daily Metals Mining Rundown for 15 Sept 2025 (intraday TSX)

Prices for precious and base metals rose today, including gold continuing to hover around all time highs; Larger cap silver and copper stocks, smaller cap PGM stocks, and some nickel stocks looked good, among miners; Nordic gold juniors First Nordic Metals and Mawson Finland merge and add bench strength.

September 15, 2025

Today’s metal price movements (since Friday’s close) 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 489 in our Peer Table) intraday TSX/NYSE trading (including earlier ASX closing prices) include:

Mining company announcements incorporated into today’s intraday TSX Peer Table (resource updates, economic studies, changes in attributable project ownership):

  • 15 Sept 2025 - Gold explorer First Nordic Metals (TSXV:FNM) announced a merger with gold developer Mawson Finland (TSXV:MFL) to create a leading Nordic gold development (and exploration) company. Importantly, leadership will be consolidated under a new incoming chairman and new CEO who have worked together for decades. Incoming Chairman Peter Breeses has over 35 years experience with a specialty in building and operating mines - including as President and CEO of Asanko Gold (now Galiano Gold TSX:GAU) through financing, construction, and comissioning of the Asanko Gold Mine in Ghana - on time and within budget. And new CEO and incoming director Russell Bradford is a metallurgist and seasoned mining executive with over 35 years of project management and operational experience - including for several tier-1 companies, including Anglo American. And most recently Mr. Bradford served as Managing Director of Aston Minerals which he merged with Torque Metals in 2025. And Darren Morcombe also joins as Special Advisor - mining executive based in Switzerland with over 30 years international experience across mining finance, operations, and corporate leadership. MFL shareholders will receive 7.1534 shares of NordCo (FNM proforma) before a concurrent 4-to-1 consolidation, resulting in a ~23% premium to MFL’s Friday (12 Sept) close of C$2.68/sh, before (~11.5%) dilution from a C$30m concurrent non-brokered subscription receipt financing. MFL stock was up +2.6% intraday (15 Sept) following this news. FNM had traded (on Friday 12 Sept) at market cap/oz AuEq resource of US$74/oz - which had been around the 65th-percentile of our 90-company gold explorer peer group (between median $37/oz and mean $77/oz). But now FNM (NordCo) add’s development stage Rajapalot project in Finland with a 2023 PEA (to its existing 45%-owned Barsele project in JV with Agnico Eagle within Sweden’s Gold Line Belt, and Kylmakangas project in Finland’s Oijarvi Greenstone Belt - both resource stage) and graduates to our gold developer peer group, which trades at a proforma market cap today (15 Sept) of US$70/oz AuEq (after stock fell -14% intraday), which is only ~60th-percentile of our 73-company gold developer peer group, which also has step change higher median and mean market caps/oz of US$58/oz and $83/oz. And FNM maintains its aggressive exploration plans for 2025-2026 of 15-20,000m/yr across its Sweden’s Gold Line belt, with 3,500m at Barselle JV, while MFL’s side will continue its permitting and engineering as it targets strategic project status according to EU’s CRMA (due to Rajapalot’s cobalt byproduct).

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