Daily Metals Mining Rundown for 3 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 03, 2025

Today’s metal price movements (over past ~30hrs) and mining company peer group movements intraday TSX/NYSE (including earlier ASX movements) include:

Top and bottom 40 daily performing metals mining company stocks (out of 459 in our Peer Table) intraday TSX/NYSE (including earlier ASX movements) 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:

  • 3 June 2025 - Copper developer XXIX Metals (TSXV:XXIX) announced a newly tightened resource estimate for its Opemiska project in Quebec, which paves the way for an upcoming PEA for that project (XXIX already has a 2021 PEA for its other Thierry project). The large, open pit-constrained resource update resulted in a reduced surface footprint, and lower strip ratio through conversion of some waste zones to low-grade zones. The overall estimate grew contained metal just slightly, to a reported 69.65 Mt in the indicated category, grading 0.84% Cu, 0.31g/t Au, 1.82g/t, containing 1.3 Blbs Cu, 0.70 Moz Au, and 4.1 Moz Ag and 80.615 Mt in inferred category, grading 0.28%Cu, 0.17 g/t Au, 0.62 g/t Ag, containing 0.49 Blbs Cu, 0.43 Moz Au, and 1.6 Moz Ag. This grew overall company resources (including the company´s other projects/resources Thierry and Roger) by just under ~1% to 5.3 Blbs CuEq or 7.9 Moz AuEq, now 67% from Cu, 21% from Au, rest from Ni, Ag, Pd, Pt (at our estimated 3-month trailing average metal prices). XXIX stock traded down -12% today (3 June) intraday following this news (vs. copper developer group median performance of flat +0%), to a market cap/lb resource of US$0.004/lb CuEq ($2.51/oz AuEq) - a wide 80% discount to our 31-company copper developer peer group median of $0.019/lb CuEq ($12.8/oz AuEq). On P/NAV (taken as market cap/post-tax NPV), including only the 2025 PEA for Thierry (which will soon be supplemented by another PEA for Opemiska), XXIX trades at 0.11x - a 46% discount to our copper developer peer group median 0.21x (both at our Reference copper price of $3.5/lb).

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