Daily Metals Mining Rundown for 16 Apr 2026 (after-market ASX)

Metal prices gained over past ~48 hrs, led by lithium and zinc rising +3-4%, followed by platinum, silver, and nickel rising +2-3%, copper and gold by +1%, and palladium and uranium by less than 1%; This helped lithium producers, and lithium hard rock and brine junior miners stand out over past trading session, along with uranium miners - while miners of most other metals were largely flat; Covered announcements include SUBSTANTIAL resource update by Osisko Metals for its Gaspe project in Quebec, and a maiden resource for Seabridge Gold for its Iskut project - now dubbed Bronson Corridor project.

Author

Host Rock Capital
April 16, 2026

Today’s metal price movements (over past ~48 hrs) and mining company peer group movements through ASX trading (including yesterday’s TSX/NY movements):

Top and bottom 40 daily performing metals mining company stocks (out of 511 in our Peer Table) through ASX trading (including yesterday’s TSX/NY movements):

Mining company announcements incorporated into today’s after-market ASX Peer Table (resource updates, economic studies, changes in attributable project ownership):

  • Copper explorer Osisko Metals Incorporated (TSXV:OM) announced Tuesday (14 Apr) a VERY SUBSTANTIAL resource upgrade for its flagship Gaspe project in eastern Quebec, which QUADRUPLED contained copper-equivalent resources (from its prior maiden estimate) to 18.8 Blbs CuEq (12.9 Blbs Cu only) within 2.07 Bt (88% M&I), including a measured category share ff 136.5 Mt @ 0.37% Cu, 0.014% Mo 1.98 g/t Ag (for a reported 0.42% CuEq), with the overall 18.8 Blbs CuEq being 69% attributable to Cu, 23% from Mo, with remaining 8% from Ag – at our estimated 3-month trailing average metal pricing with no metal recovery factors. Surprisingly, OM stock only traded up +12.6% over past week ending 15 April on this news (only ~double our 41-company copper explorer group median performance of +5.5% for same period) to C$1.52/sh, market cap C$1.12b, and market cap/lb resource US$0.043/lb CuEq – in between our copper explorer median $0.032/lb CuEq and mean $0.067/lb CuEq. And this deposit’s 18.8 Blbs CuEq is a WHOPPING 12x the median copper explorer deposit size of 1.55 Blbs CuEq (or 3.7x the mean of 5.1 Blbs CuEq) and this 12.9 Blbs Cu excluding Mo/Ag is 21x the size of group median deposit size of 0.62 Blbs Cu (and 4x the mean of 3.1 Blbs Cu) – which as management states in the release makes Gaspe one of the largest undeveloped Cu-Mo deposits in North America.

  • Copper and gold developer Seabridge Gold Inc. (TSXV:SEA) announced Tuesday (14 Apr) a maiden resource estimate for its Snip North deposit at its Iskut Project in BC which amounted to 633.3Mt (95% inferred with small indicated potion) which was just over half pit-constrained and rest underground. The indicated resources were entirely pit-constrained and totaled 27.6Mt @ 0.38 g/t Au, 0.06% Cu, 1.3 g/t Ag, and 0.0066% Mo. This encompassing Iskut project was also reported to now be called the Bronson Corridor project, and this maiden Snip North resource estimate grew the company’s overall resources by +3.1% to 374 Moz AuEq (314.6 Blbs CuEq) – 57% from Au, 35% from Cu, 8% from Ag (excluding the super low-grade Molybdenum). SEA stock traded roughly flat on the news, and is down -2.9% over past week (ending 15 Apr) – underperforming our gold developer median gain of +1.6% for same period, to C$42.76/sh, market cap C$3.2b, and market cap/oz resource US$6.3/oz AuEq ($0.0075/lb CuEq) – a 92% discount to our 86-company gold developer group median $75/oz AuEq and a 77% discount to our 34-company copper developer group median US$0.0033/lb CuEq ($28/oz AuEq). The lion’s share of SEA’s resources (and net asset value) come from its HUGE KSM project in BC, which according to its 2022 PFS (combined with a 2024 PEA for other, much smaller Courageous project in NWT) yields a post-tax NPV5 of US$20.4b at low gold price of US$3,000/oz (and copper price $4.50/lb Cu) – yielding a P/NAV (market cap/combined NPV) of 0.115x – a 63% discount to gold developer median 0.31x at same gold price $3,000/oz and a 24% discount to copper developer median 0.15x at same copper price $4.50/lb.

Disclaimer: Provided for informational and educational purposes on an ‘as-is’ basis, and is not investment advice. For full disclosures, visit www.hostrockcapital.com/disclosures.