Toronto, July 3, 2026, 15:03 (EDT)
- Discovery Mining traded up 8.8% at C$9.93 at 2:46 p.m. EDT, a move worth about C$648 million on the quoted share count.
- The TSX was open in regular trading; TMX lists Canada Day on July 1, not July 3, as the Canadian market closure.
- The ticker stayed DSV, so Friday’s move points to a fresh bid for the gold-and-silver asset mix rather than a symbol-change trade.
Discovery Mining Ltd. (TSE:DSV) jumped on Friday, its first session under the new corporate name, adding roughly C$648 million in stock-market value in less than a full trading day as mining shares rose with bullion.
The Toronto Stock Exchange was in continuous trading at the dateline time. TMX says TSX continuous trading runs from 9:30 a.m. to 4:00 p.m. ET, and its 2026 Canadian market-closure list names Canada Day on July 1, not July 3.
The company said July 1 that its shares would start trading on the TSX under Discovery Mining Ltd. from the market open on July 3. The common shares kept the DSV symbol, with no expected interruption to trading and no need for shareholders to exchange certificates or direct-registration statements.
| Discovery Mining snapshot | Data |
|---|---|
| Price at 2:46 p.m. EDT | C$9.93 |
| One-day move | +C$0.80, +8.76% |
| Implied prior close | C$9.13 |
| Market value | C$8.08 billion |
| Shares outstanding | 810.34 million |
| Implied value added Friday | About C$648 million |
| Day range | C$9.30-C$9.94 |
| 52-week range | C$2.71-C$12.48 |
| Volume vs average volume | 808,880 vs 2.82 million |
The value-added figure is a calculation using the C$0.80 one-day price move and Google Finance’s quoted 810.34 million shares outstanding. Google Finance listed the stock at C$9.93, up 8.76%, at 2:46 p.m. EDT, with a C$8.08 billion market value.
The move beat nearby precious-metals names quoted at roughly the same time.
| Stock | Price | One-day move | Market value |
|---|---|---|---|
| Discovery Mining Ltd. (TSE:DSV) | C$9.93 | +8.76% | C$8.08 bln |
| First Majestic Silver Corp. (TSE:AG) | C$25.83 | +2.26% | C$12.73 bln |
| Silvercorp Metals Inc. (TSE:SVM) | C$14.78 | +1.58% | C$3.27 bln |
| Eldorado Gold Corp. (TSE:ELD) | C$48.59 | +1.82% | C$12.68 bln |
Google Finance quoted Silvercorp at 2:46 p.m. EDT, and First Majestic and Eldorado at 2:47 p.m. EDT.
The broader tape helped. Canada’s S&P/TSX composite was up 1.0% at 10:23 a.m. ET, led by a 2.5% gain in the materials index, Reuters reported. “Lower rate expectations weaken the U.S. dollar, boost gold and benefit Canadian resource stocks,” said Matt Manara, executive vice president and portfolio manager at Avenue Investment Management. Reuters
Gold also gave the trade a cleaner macro read. Spot gold was up 1.3% at $4,174.21 an ounce at 1241 GMT, while spot silver rose 1.9% to $62.19, after U.S. payrolls missed forecasts. Han Tan, chief market analyst at Bybit, said gold’s rally was driven by “a sharp slowdown in U.S. hiring.” Reuters
The stock move matters because the new name matches a different company than the old Discovery Silver label. Discovery says it now has gold producing assets in and near Timmins, Ontario, and owns 100% of Cordero in Mexico, one of the world’s largest silver development-stage projects. Its July 1 release said the Porcupine purchase in April 2025 made it a Canadian gold producer, and the Kidd acquisition in June 2026 added land, infrastructure and copper, zinc and silver to the current production mix.
Tony Makuch, Discovery’s president and CEO, said when the Kidd deal closed that the acquisition added “processing and other infrastructure” as the company worked toward “more than doubling gold production” in the Timmins camp to over 500,000 ounces a year. The company said Kidd’s expected production for the rest of 2026 includes 10,000 to 15,000 tonnes of zinc, 5,000 to 7,000 tonnes of copper and about 400,000 ounces of silver. GlobeNewswire
The operating bar is not small. In its last quarterly operating report, Discovery posted Q1 gold output of 60,269 ounces, all-in sustaining costs of $2,041 an ounce, and 2026 guidance for 260,000 to 300,000 ounces of gold with AISC of $1,950 to $2,250 an ounce.
At C$9.93, the stock is still about 20% below its C$12.48 52-week high, but about 266% above its C$2.71 low.
