Daily Metals Mining Rundown for 6 June 2025 (after-market ASX)

Today’s metal price movements (over past ~16hrs) and mining company peer group movements through ASX trading (including yesterday’s TSX/NYSE movements) include:

Top and bottom 40 daily performing metals mining company stocks (out of 458 in our Peer Table) through ASX trading (including yesterday’s TSX/NYSE movements) include:

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

• 6 June 2025 - Cobalt developer, and now also copper (and zinc-silver) developer Cobalt Blue (ASX:COB) announced results of a Scoping Study for its Hall Creek Copper-Zinc-Silver project in Western Australia, which supplements a prior 2020 PFS for Broken Hill cobalt project, which had been more of a flagship in the past, but now this Hall Creek project appears more front and center for the company due to its exposure to rising metal prices for Copper and Silver (and Zinc which is also starting to inch higher - up 3$% over last month). The Scoping Study yielded a fairly solid post-tax NPV of A$121M and post-tax IRR of 21.4% at $4.55/lb Cu from capex of A$149.3M (which includes a 20% contingency and includes A$106.1M in underground mine development costs). COB stock traded down today (6 June) -4.7% on this news (vs. our 31-company copper developer peer group median performance of flat +0% and our 9-company cobalt developer group´s +1.1%). COB´s combined mineral resources from both projects are 928 Mlbs CuEq or 263 Mlbs CoEq (1.4 Moz AuEq), which are 73% from Co, 13% from Cu, 12% from Zn, rest Ag-Ni-Pb-Au, at our estimated 3-month trailing average metal pricing. These resources trade at a COB market cap/lb of US$0.020/lb CuEq or $0.061/lb CoEq ($13.1/oz AuEq) - in line with 31-company copper developer peer group median $0.020/lb CuEq ($13.4/oz AuEq) and 9-company cobalt developer median $0.061/lb CoEq ($13.1/lb AuEq).

• 5 June 2025 - Uranium explorer Premier American Uranium (TSXV:PUR) announced acquisition of fellow uranium explorer Nuclear Fuels (CSE:NF), for implied consideration of C$0.43 per share, representing a premium of 54% to NF´s 4 June 2025 closing price, which will result in one of America´s largest pure-uranium explorers with a proforma market cap of C$102M (as stated in the release, reported to be based on proforma shares at closing and PUR´s 4 June 2025 share price of C$1.31), which will be 59% owned by PUR shareholders and 41% owned by NF shareholders. NF´s projects host combined historic uranium resources of some 11.2 Mlbs U3O8 (across its Bootheel and Moonshine projects in Arizona and Wyoming), but this excludes its main Kaycee project, where a 2024 NI 43-101 exploration target of 11.5 to 30 Mlbs U3O8 was published. Any or all of these projects (along with PUR´s pre-existing projects in Wyoming, New Mexico, and Colorado) could benefit from the Trump administration´s signaled policy support for development of America´s domestic uranium resources. Pro-forma PUR mineral resources (including PUR´s pre-existing 23.5 Mlbs U3O8 and including NF´s historic 11.2 Mlbs, but excluding any exploration targets) are 34.7 Mlbs U3O8. PUR stock traded up slightly +0.8% following this news while NF stock traded up substantially +27% (vs. uranium explorer group median performance of +1.9%), with PUR trading at a proforma (5 June) market cap of US$2.16/lb U3O8 ($106/oz AuEq), demanding a substantial jurisdictional policy premium over our 15-company (soon to be 14-company) uranium explorer peer group´s mean market cap/lb of US$1.11/lb (with PUR´s mineral resources set to grow).

Disclaimer: Provided for informational and educational purposes, and is not intended as investment advice. For full disclosures, visit www.hostrockcapital.com/disclosures.