Daily Metals Mining Rundown for 29 Sept 2025 (after-market TSX)

Most metal prices continued rising thru North American trading, while copper and precious metals miners largely gained slightly, and other mining peer groups were mostly flat.

September 29, 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 491 in our Peer Table) intraday TSX/NYSE trading (including earlier ASX closing prices) include:

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

  • 26 Sept 2025 - Gold explorer - and now also nickel explorer - Renforth Resources (CSE:RFR) announced a maiden resource for its Victoria nickel-polymetallic project in Quebec that was based on 10,000m of drilling over 2.5km strike length within a 20km long structure. Resource includes two starter pits spanning 2.5km, pit-constrained with a relatively shallow depth of 200m with low waste:ore strip ratio of 1:1, and is reported to remain open along strike and towards depth. Initial size was 125Mt @ 0.12% Ni, 0.02% Cu, 0.01% Co, 0.08% Zn, and 0.38 g/t Ag for a reported 0.15% NiEq containing 413 Mlbs NiEq. But at our 3-month trailing average metal pricing, this nickel-equivalent grade comes in higher at 0.17% NiEq containing 469 Mlbs NiEq. This grade is quite low - especially for the byproduct (non-nickel) metals, but this should be largely offset in a future planned PEA (after another resource update, according to the release) by a very low waste-to-ore strip ratio of 1-to-1, AND by the fact that inital ore sorting test work announced by RFR completed using TOMRA equipment encouragingly suggested that this nickel-polymetalic material (same TOMRA manufacturer equipment that was successfully applied at a production-scale on a bulk sample by Osisko Development in BC). Together with RFR’s 0.36Moz Au gold deposit, RFR hosts combined resources of 741 Mlbs NiEq (1.3Moz AuEq), which are now 51% from Ni and 27% from Au, and trade at a market cap/lb of US$0.008/lb NiEq ($3.7/oz AuEq) - a 66% discount to Ni explorer median $0.022/lb NiEq ($10.9/oz AuEq), and a 92% discount to gold explorer peer group median $46/oz AuEq.

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