Daily Metals Mining Rundown for 6 Feb 2026 (after-market ASX)

Most metal prices continued falling over past ~24hrs, led by lithium falling -7%, silver down -5.5%, and platinum and palladium dropping -3-4%; Gold price remained relatively flat; Mining stocks continued their downtrend, with most dropping -5% or more, and most silver and uranium stocks dropping more steeply by 8-10% or more; Covered announcements include completion of Probe Gold acquisition by Fresnillo from a few weeks ago.

Author

Host Rock Capital
February 06, 2026

Today’s metal price movements (over past ~24hrs) 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):

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

  • Silver producer and senior gold producer FRESNILLO PLC (LON:FRES) announced a few weeks ago (on 22 Jan) the completion of its acquisition of gold developer Probe Gold Inc. (TSX:PRB) and its ~8Moz flagship Novador project in Quebec which includes 4 past-producing mines, along with additional resources of some ~2Moz split across a few other project areas (also in Quebec). The all-cash deal was first announced a few months ago (on 31 Oct 2025), and was valued at C$3.65/share PRB or ~C$780m (US$560m), for a 24% premium to PRB’s 30-day VWAP (on 30 Oct 2025). Fresnillo is one of the world’s largest primary silver producers and a major Mexican gold producer, with a portfolio of 8 key operating mines in Mexico plus exploration/development properties, and this deal marks the company’s (welcomed) slight diversification into Canada/Quebec 🤝🫡 . FRES adds 10Moz of resources for a price of US$56/oz (and P/NAV of 0.13x from 2024 PEA at recent spot gold $4,441/oz – in-line with gold developer median 0.13x at same gold price) - increasing FRES’s resource inventory by ~13% to 88.2Moz AuEq (now 41% from Ag and 53% from Au for a huge 94% from precious metals, rest Pb-Zn byproduct), now trading (on 5 Feb) at a FRES market cap/oz resource of US$419/oz AuEq ($6.74/oz AgEq) – a 25% discount to 13-company senior gold producer group median US$559/oz AuEq, and a 40% discount to fellow silver dominant peer Coeur Mining, Inc. NYSE:CDE $703/oz AuEq ($11.3/oz AgEq) and an 80% discount to the top silver dominant peer Wheaton Precious Metals NYSE:WPM US$2,066/oz AuEq ($33.55/oz AgEq) – AFTER FRES stock gained +72% over past ~3 months since closing this deal (double the performance of the senior gold group meidan of +35.5% for exact same period - suggesting FRES shareholders liked it).

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.