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- Metals Mining Rundown and Peer Table - Free Daily Edition for 23 Jan 2025 (intraday TSX)
Metals Mining Rundown and Peer Table - Free Daily Edition for 23 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 23, 2025
Today’s metals price movements intraday TSX include:
Palladium price up +1.3% today to US$1,000/oz Pd
Copper price up +0.6% to $4.29/lb Cu
Silver price down -0.9% to $30.48/oz Ag
Uranium price down -0.7% to $73.50/lb U3O8
Today’s metals mining peer group movers intraday TSX include:
Lithium brine explorers’ peer group median share performance is up +2.4%, to a peer group median market cap/t of $3.78/t LCE ($0.98/oz AuEq)
Lithium brine developers’ median is up +1.0%, to a median market cap/t of $8.07t LCE ($2.08/oz AuEq)
Lithium producers’ median is down -3.7%, to a peer group median market cap/t of $279/t LCE ($72/oz AuEq)
Metals mining company announcements incorporated into today’s Peer Table (resource updates, economic studies, changes in attributable project ownership) include:
23 Jan 2025 - Uranium developer Goviex Uranium (TSXV:GXU) announced results of a Feasibility Study (FS) for its fully-permitted, 100%-owned Muntanga uranium project in Zambia, which yielded a post-tax NPV8% of US$243M (at $90/lb U3O8) from inital capex of $282M. And this NPV only decreases to $131M after adjusting for our Recent Spot uranium price of $77.5/lb U3O8 (according to the NPV sensitivity provided in the FS), resulting in a P/NAV (market cap / NPV) of 0.21x, which is a 13% discount to our uranium developer peer group median P/NAV of 0.24x (from 15 companies, at our same Recent Spot uranium price). And this NPV for GXU excludes any contribution from the company’s (former) 80% ownership in the Madaouela project in Niger, for which the Company announced in July 2024 that the Niger Ministry of Mines decided to deprive the company of its right under its mining permit, which the company beleives to be unlawful. GXU subsequently announced in December 2024 that is had filed a request for arbitration, and in its 6 Jan 2025 letter to shareholders, the company signaled that it had commenced arbitration proceedings, and remained commited to pursuing every avenue available to protect GXU’s rights in relation to that project.
23 Jan 2025 - Intermediate gold producer Gold Road Resources (ASX:GOR) announced its annual resource and reserve statement as at 31 Dec 2024. The company’s reported attributable gold resources increased by 0.3 Moz or 6% to 4.81 Moz.
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