Daily Metals Mining Rundown for 5 Sept 2025 (intraday TSX)

Most metal prices rose today, particularly the precious metals including gold rising more than 1% to just under $3,600/oz at North American market close; PGM and nickel producer peer groups outperformed among miners overall based on their peer group median daily share price performances, while gold and silver stocks also performed well; Covered announcements include New Found Gold acquisition of Maritime Resources.

September 05, 2025

Today’s metal price movements (over past ~23 hrs) 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 486 in our Peer Table) intraday TSX/NYSE trading (including earlier ASX closing prices) include:

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

  • 5 Sept 2025 – Gold developer New Found Gold (TSXV:NFG) announced the acquisition of fellow Newfoundland gold developer Maritime Resources (TSXV:MAE), for in an all stock acquisition where MAE shareholders will receive 0.75 shares NFG per share MAE, for a 32% premium to MAE 20-day VWAP, with NFG and MAE shareholders owning 69% and 31% of combined entity. MAE’s FS-stage Hammerdown project is much smaller than NFG’s PEA-stage Queensway project (resource of 0.36 Moz vs NFG’s resources of 2.36 Moz). But Hammerdown is much more advanced than Queensway (FS in 2022), is a near-term producer (production targeted for 2026), is less costly to build (easier to fund) than the much larger and more valuable Queensway project – value that could more easily be unlocked with the cash flows from Maritime. A similar strategy employed by Discovery Silver (TSXV:DSV) in its acquisition of Porcupine mine complex from Newmont (NYSE:NEM) announced in January (covered in our Weekly Rundown here:

    https://www.linkedin.com/posts/host-rock-capital_miningnews-gold-silver-activity-7291848995721633793-D1Pz?utm_source=share&utm_medium=member_desktop&rcm=ACoAAASz71EBbrYwPSM9hdNBUl8LOGwqAKzEjho with 200 impressions), from which cash flows can be used to help develop the company’s former flagship Cordero in Mexico. Since the DSV deal was announced in January (closed in April), DSV’s share price has quadrupled. NFG’s proforma basic shares upon closing the MAE acquisition is reported in the release to be 335.93 sh. NFG stock traded down -4.6% today (5 Sept intraday) while MAE was also down vs. gold dev peer median gain +1.6%, but perhaps both stocks will gain next week once investors start to realize that NFG’s proforma market cap only sits at C$833m, compared to the combined (post-tax) NPVs of both projects (at our 3-month trailing avg gold price of US$3,350/oz) standing at US$1.35b (5 Sept intraday), for a ~P/NAV of 0.45x – only slightly higher than the 0.35x NGF closed at yesterday (on 4 Sept), but well below the P/NAV MAE closed at yesterday (on 4 Sept) of 0.61x (at 3-month trailing $3,350/oz) – and a far cry from the P/NAV in the ball park of ~1 that might be expected from a junior gold producer (as NFG is now set to become in 2026, when Hammerdown is due to come online).

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