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- Daily Metals Mining Rundown and Peer Table - Free Edition for 29 Jan 2025 (intraday ASX) - Gold/Silver Ratio Appears To Be Breaking Out of its Downtrend
Daily Metals Mining Rundown and Peer Table - Free Edition for 29 Jan 2025 (intraday ASX) - Gold/Silver Ratio Appears To Be Breaking Out of its Downtrend
Daily rundown of mining company announcements and movements in metal prices and mining equity 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 28, 2025
Today’s metals price movements intraday ASX (over past ~8 hours) include:
Silver is up +0.5% to $30.41/oz Ag
Gold is up +0.2% to $2,762/oz Au
Platinum up +0.2% to $947/oz Pt
Palladium up +0.1% to $947/oz Pd
Nickel down -0.8% to $6.99/lb Ni
SPECIAL METAL PRICE ALERT:
The gold to silver ratio appears to be breaking out of its 3 year downtrend on the weekly chart
Such a breakout has marked the onset of at least the last 3 recessions, in 2001, 2008, and a short-lived one in 2020.
Will be watching for silver to outperform gold throughout rest of this week, which could push the weekly candlestick back down below the resistance trendline and thus holding the negative gold/silver trend for longer (or alternatively for silver to continue breaking down versus gold, resulting in a continued breakout above the resistance line, and the possible onset of a recession).
Today’s metals mining peer group movers intraday ASX inlcude:
Uranium developer’ peer group median share performance is up +3.7% to median market cap/lb U3O8 resource of US$0.85/lb U3O8e ($29/oz AuEq) and to a median P/NAV of 0.42x (at our Reference uranium price of $65/lb U3O8).
Silver developers’ median up +1.4% to median market cap/lb of $0.85/lb U3O8e ($29/oz AuEq) and to median P/NAV of 0.5x (at our Reference silver price of $22/oz Ag)
Intermediate gold producers’ median up +1.4% to median market cap/oz of $108/oz AuEq
Silver producers’ median up +1.3% to median market cap/oz of $1.26/oz Ag ($108/oz AuEq)
Silver explorers’ median up +1.3% to to median market cap/oz of $0.24/oz AgEq ($21/oz AuEq)
Lithium clay developers’ median share perforance is down -3.0% to median market cap/t of $3.66/t LCE ($0.94/oz AuEq) and to a median P/NAV of 0.014x (at our Reference lithium price of $20,000/t LCE).
Diversified producers’ median is down -1.9% to median market cap/lb of $0.20/lb CuEq ($126/oz AuEq)
PGM producers’ median down -1.8% to median market cap/oz of $10.5/oz PdEq ($28/oz AuEq)
Cobalt producers’ median down -1.4% to median market cap/lb of $0.24/lb CoEq ($59/oz AuEq)
Copper producers median down -1.3% to median market cap/lb of $0.12/lb CuEq ($73/oz AuEq)
No metals mining company announcements incorporated into today’s Peer Table (resource updates, economic studies, changes in attributable project ownership).
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