Daily Metals Mining Rundown for 5 Mar 2026 (after-market ASX)

Most metal prices drifted south over past ~24 hours, except lithium and platinum which inched up slightly; Metals mining stocks mostly traded flat over the last session, except Li miners which mostly gained by 1-2% or more.

Author

Host Rock Capital
March 05, 2026

Today’s metal price movements (over past ~24 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 504 in our Peer Table) through ASX trading (including yesterday’s TSX/NY movements):

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

  • Former gold and copper (and cobalt) explorer – now developer – Doubleview Gold Corp (TSXV:DBG) announced Monday (2 Mar) a maiden PEA for its flagship Hat project in the Northwestern reaches of Canada’s western-most frontier of British Columbia. The study’s base case (A1 scenario) yielded a post-tax NPV of C$4.96b at consensus metal pricing of $3,272.60/oz Au and $4.88/lb Cu, from initial capital of C$3.55b. And this NPV: (a) increases to C$11b at spot metal pricing US$5,200/oz Au and $6.00/lb Cu, (b) assumes conservative metal recoveries of 66% for Au and 80% for Cu according to past test work, which are expected to be improved to 75% for Au and 89% for Cu (increasing the NPV to C$6.7b at consensus metal pricing or C$13.5b at spot prices, as shown under the PEA’s A2 scenario), (c) excludes a possible scandium circuit (which the PEA shows improves the NPV marginally under scenario B). DBG stock has risen +18% over past week (ending 4 mar) on the back of this news, to C$2.52/sh or market cap C$568m, with Hat’s large resource base of 11.9Moz AuEq or 9.9 Blbs CuEq (50% Au, 42% Cu, 6% from Co, rest Ag - excluding Hat’s Scandium resources) trading at a market cap/oz resource of US$35/oz AuEq ($0.181/lb CuEq) for a 58% discount to gold developer group median $84/oz AuEq. And according to the separate metal price sensitivities provided in the PEA for Cu and Au (for the conservative A1 scenario), DBG now (4 Mar) trades and a P/NAV (market cap/NPV) of 0.060x at 3-month trailing average metal pricing of US$4,747/oz Au and $5.73/lb Cu – a 59% discount to our gold developer group median 0.15x at same $4,747/oz Au and a 32% discount to our copper developer group median 0.09x at same $5.73/lb Cu.

  • Copper producer Hudbay Minerals Inc. Minerals (NYSE:HBM) announced Monday (2 Mar) the acquisition of copper developer Arizona Sonoran Copper Company Inc. (ASCU:TSX | ASCUF:OTCQX) and its large pure-play copper Cactus project in Arizona, which hosts resources of 12.7 Blbs Cu, and has a 2025 PFS that yields a post-tax NPV of US$4.36b at our estimated 3-month trailing average copper price of $5.73/lb – translating to a (4 Mar) ASCU P/NAV (market cap/NPV) of 0.29x AFTER ASCU stock gained +21% over past 5 trading days (in-line with 34-company copper developer group mean 0.29x and above median 0.09x at same copper price). And importantly, this acquisition will create the third largest copper district in North America together with Hudbay’s existing Copper World project (also in Arizona), with expected annual copper production of 92,000 t Cu (203 Mlbs Cu) from 2030 – some time after which Cactus is now due to add another 103,000 t Cu per annum (227 Mlbs Cu). Together with HBM’s other near-term optimization projects, this deal provides HBM with a clear pathway to more than double its overall copper production from ~125,000 t Cu per annum now (275 Mlbs Cu) to over 250,000 t Cu annually (551 Mlbs Cu) by 2030 from Copper World, and ultimately to 350,000 t Cu per annum (771 Mlbs Cu) from Cactus (~2.8x HBM’s current Cu production levels). HBM will issue 0.242 sh HBM per share ASCU in all-stock deal, valued at C$9.35/sh ASCU for 30% premium to prior close and 36% premium based on both HBM and ASCU’s 20-day VWAP. HBM’s basic shares will increase by ~11.5% to ~442.3m to acquire the remaining 90.1% of ASCU shares outstanding (HBM already owned 9.9%), to grow its mineral resource inventory by ~14% to 95.8 Blbs CuEq (115.6 Moz AuEq) – 66% from Cu, 24% from Au, 7% from Ag, rest Zn (by increasing HBM’s attributable ownership of ASCU’s resources from 9.9% to 100%). HBM’s stock dropped -10.5% over past 5 trading days (just underperforming our 24-company copper producer median drop of -7.4% for same period) to US$24.80/sh, proforma market cap US$11.0b, (proforma) market cap/lb US$0.11/lb CuEq ($95/oz AuEq) – a 39% discount to Cu producer group median US$0.19/lb CuEq ($157/oz AuEq).

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.