- Daily Metals Mining Rundown - Free (Intraday TSX)
- Posts
- Metals Mining Rundown and Peer Table - Free Daily Edition for 22 Jan 2025 (intraday TSX)
Metals Mining Rundown and Peer Table - Free Daily Edition for 22 Jan 2025 (intraday TSX)
Daily Rundown of movements in metal prices and mining peer group valuations according to our attached Metals Mining Peer Table, which is a compilation of publicly available information covering 9 important metals and more than 400 mining stocks listed globally, and includes the mineral resource holdings of all 400+ companies and project NPV information for some 140+ developers, all retrieved from the companies' published technical reports.
Host Rock Capital
January 22, 2025
Today’s metals price movements intraday TSX include:
Palladium price up +4.4% today to US$988/oz Pd
Gold price up +0.7% to $2,758/oz Au
Nickel price down -2.3% to $7.13/lb Ni
Copper price down -0.7% to $4.27/lb Cu
Today’s metals mining peer group movers intraday TSX include:
Uranium producers’ peer group median share performance is up +2.6%, to a peer group median market cap/lb of US$9.12/lb U3O8e ($312/oz AuEq)
Uranium developers’ median is up +2.5%, to a peer group median market cap/lb of $0.89/lb U3O8 ($30/oz AuEq) and to a peer group median P/NAV of 0.38x (at our Reference uranium price of $65/lb U3O8)
Lithium clay explorers’ median is up +2.3% to a median market cap/t LCE of $1.91/t LCE ($0.49/oz AuEq).
PGM developers’ median is down -2.6% to median market cap/oz Pd of $2.9/oz PdEq ($7.6/oz AuEq) and to a peer group median P/NAV of 0.12x (at our Reference palladium price of $1,800/oz Pd).
Metals mining company announcements incorporated into today’s Peer Table (resource updates, economic studies, changes in attributable project ownership) include:
22 Jan 2025 - Lithium producer Pilbara Minerals (ASX:PLS) announced that its acquistion of Latin Resources (ASX:LRS) has become legally effective, and we have added LRS resource holdings to PLS resource holdings in our Peer Table, and removed LRS from the Peer Table, which was to be suspended from ASX trading at market close today. On market cap/t LCE, PLS leads the pack of ASX Li producers at a market cap/t LCE of $326/t LCE ($84/oz AuEq), but this is only a slight premium to our 10 company lithium producer peer group median of $286/t LCEe ($74/oz AuEq), which is still a far cry from the valuation of the most dominant players in the group (SQM, Albermarle, and Arcadium, trading at $1801, $770, and $522/t LCEe) - offering much upside potential for PLS still.
28 Nov 2024 - Wildcat Resources (ASX:WC8) delivered a large maiden hard rock lithium resource of 1.8 Mt LCE grading 1.0% lithium oxide (plus tantalum and iron oxide), and the company and resources have now been added to our lithium hard rock explorer peer group (after being flagged as missing by one of our subscribers).
|
