Gold Digger: Bullion is back at an ALL TIME HIGH … what else do you really need to know?
- Gold hits all time high as volatile cocktail emerges for US and global economy
- LBMA price hit US$2974/oz on Thursday, with futures close to US$2990/oz
- RBC upgrades mid-tier ASX gold producer price targets on higher price forecasts
Gold is back at an ALL TIME HIGH, nudging US$2990/oz which, for those playing at home, puts us well within reach of the coveted US$3000/oz mark.
What gave the precious metal its latest kick into gear?
Look no further than the latest US CPI print, which showed a lower-than-expected 0.2% rise in core inflation on the month and 2.8% lift in headline inflation YoY.
At 3.1%, core inflation was at its lowest YoY level since April 2021.
The CME’s Fedwatch Tool shows the market is not betting on any change at this month’s meeting of the Fed’s Guv’nors, with a 97% chance the fund rate stays where it is at 4.25-4.5%.
But the prospect of a 25bps cut by June is now sitting at 55.1%.
Blended in a volatile cocktail with safe-haven buying thanks to the mayhem Trump’s tariff policies are playing on global markets as well as uncertainty over the outcome of negotiations around a ceasefire in Ukraine and gold is proving a potent hangover cure for traders seeking defence.
Prices were up well over 1% on Thursday, with even the lagging LBMA price up at US$2794/oz.
Silver markets have been similarly bullish in recent days, trading close to US$34/oz.
The conditions for gold remain very good but don’t take our word for it.
“Gold touched a new record high after modest US inflation supports the case for further cuts by the Federal Reserve,” ANZ Research analysts said.
“Swap traders are now fully pricing in another 25bp cut in June, with about 70bp of easing seen for all of 2025. Rising trade tensions also boosted haven buying of the precious metal.”
Price targets updated
A big commodity deck update has also dropped from RBC today.
Gold and copper stocks are the biggest beneficiaries.
RBC still has US$2200/oz gold pencilled long term, which would be a long way down from here.
But prices expected over the medium term, within the time frame able to be comprehended by most traders, have been upgraded across the board.
2025 estimates are now 1% higher at US$2845/oz, but future year averages are more substantive.
Next year RBC sees prices rising to US$3111/oz, an 8% lift on prior forecasts, with 2027 prices 2% higher to US$2800/oz, 2028 12% up to US$2800/oz and the 2029 estimate 14% up to US$2500/oz.
Macquarie yesterday pulled out an even more bullish assessment, tipping gold could move as high as US$3500/oz in the third quarter.
Technical analysts see the potential of upside even earlier.
“The gold price has returned to renewed historical highs, which are now above $2970 per troy ounce. On the tech analysis side, we see a typical resumption of growth after a corrective pullback. As we repeatedly noted earlier, the potential target of this growth impulse looks like the area of $3190. A more distant growth target looks like the area of $3400,” FxPro chief market analyst Alex Kuptsikevich said.
“Not typical in this case is the fact that the increase in the price of gold occurred sometimes simultaneously with the strengthening of the dollar and sometimes together with the fall in the stock markets.
“The only reliable correlation we see with gold is sentiment on global monetary policy. Economic weakness and slowing global inflation are fuelling the rise in the price of gold.”
The other key upgrade from RBC was a 2% lift in 2025 copper forecasted price to US$4.10/lb, as well as a cheeky 25% uptick in its 2029 forecast to US$5/lb.
RBC has rolled out a few price target changes in response to its more bullish gold outlook, pushing its gold coverage up 8% on average.
Evolution Mining (ASX:EVN), which gets a sizeable portion of earnings from copper, has had its PT lifted 26% to $5.40 (though that’s a discount to its real world price of $6.79), while Northern Star Resources’ (ASX:NST) is up 8% to $21.50.
Bellevue Gold (ASX:BGL), Gold Road Resources (ASX:GOR), Regis Resources (ASX:RRL), Vault Minerals (ASX:VAU) and Westgold Resources (ASX:WGX) saw their PTs lifted between 10-14%.
So did Ramelius Resources (ASX:RMS), which was up 12% to $2.80 on RBC’s model, despite copping big trims from Argonaut and Canaccord during the week (admittedly, lifting from $2.50 to $2.80, RBC’s Alex Barkley was starting RMS at a lower base).
St Barbara (ASX:SBM) was the only one cut, 25% to 30c, but it has some stock specific issues with its Atlantic and Simberi gold operations.
Pretty much all those stocks saw gains of 3-5% as the ASX All Ords gold sub-index rose a bullish 3.92% on Friday.
Winners & Losers
Here’s how ASX-listed precious metals stocks are performing:
| CODE | COMPANY | PRICE | WEEK % | MONTH % | 6 MONTH % | YEAR % | YTD % | MARKET CAP |
|---|---|---|---|---|---|---|---|---|
| MRR | Minrex Resources Ltd | 0.007 | -7% | -13% | -22% | -50% | 0% | $ 7,594,072.52 |
| NPM | Newpeak Metals | 0.015 | 7% | 7% | 0% | 53% | 36% | $ 4,831,075.97 |
| ASO | Aston Minerals Ltd | 0.018 | 6% | 6% | 38% | 20% | 100% | $ 23,311,156.84 |
| MTC | Metalstech Ltd | 0.115 | 5% | -8% | -30% | -34% | -18% | $ 21,729,343.13 |
| GED | Golden Deeps | 0.021 | -9% | -13% | -48% | -53% | -16% | $ 3,234,469.33 |
| G88 | Golden Mile Res Ltd | 0.009 | 0% | -10% | 0% | -25% | 0% | $ 5,442,478.55 |
| LAT | Latitude 66 Limited | 0.061 | 7% | -2% | -39% | -70% | 61% | $ 8,604,042.30 |
| NMR | Native Mineral Res | 0.07 | 3% | 4% | 250% | 218% | 79% | $ 47,793,748.44 |
| AQX | Alice Queen Ltd | 0.0065 | -19% | -19% | -7% | 30% | -19% | $ 7,454,785.44 |
| SLZ | Sultan Resources Ltd | 0.007 | -13% | -13% | 17% | -68% | 17% | $ 1,620,289.37 |
| KSN | Kingston Resources | 0.081 | 8% | 1% | 3% | -1% | 14% | $ 64,934,437.34 |
| AMI | Aurelia Metals Ltd | 0.23 | 7% | 2% | 39% | 59% | 35% | $ 389,059,853.86 |
| GIB | Gibb River Diamonds | 0.041 | 8% | 11% | 14% | 46% | 3% | $ 9,009,396.69 |
| KCN | Kingsgate Consolid. | 1.5 | 9% | 14% | 9% | 15% | 17% | $ 375,028,711.86 |
| TMX | Terrain Minerals | 0.004 | 0% | -20% | 0% | 0% | 33% | $ 8,014,226.40 |
| BNR | Bulletin Res Ltd | 0.042 | -7% | 5% | -2% | -40% | 8% | $ 11,744,532.92 |
| NXM | Nexus Minerals Ltd | 0.06 | 0% | 3% | 33% | 67% | 33% | $ 27,329,408.96 |
| SKY | SKY Metals Ltd | 0.052 | 2% | 4% | 53% | 24% | -4% | $ 35,535,158.30 |
| LM8 | Lunnonmetalslimited | 0.2 | 3% | -13% | 25% | -18% | -20% | $ 44,125,634.80 |
| CST | Castile Resources | 0.064 | 7% | -9% | -14% | -20% | -20% | $ 18,956,411.96 |
| YRL | Yandal Resources | 0.14 | -7% | -24% | 22% | 47% | -20% | $ 43,292,897.48 |
| FAU | First Au Ltd | 0.0025 | 25% | 25% | 67% | 0% | 25% | $ 5,179,983.19 |
| ARL | Ardea Resources Ltd | 0.4 | -7% | 1% | -7% | -38% | 21% | $ 88,858,897.18 |
| GWR | GWR Group Ltd | 0.088 | -1% | 2% | 4% | -12% | 10% | $ 28,267,065.64 |
| IVR | Investigator Res Ltd | 0.021 | -9% | -19% | -46% | -50% | 5% | $ 33,366,471.05 |
| GTR | Gti Energy Ltd | 0.003 | 0% | 0% | -25% | -63% | -14% | $ 5,997,899.32 |
| IPT | Impact Minerals | 0.007 | 0% | -26% | -43% | -47% | -26% | $ 21,680,454.31 |
| BNZ | Benzmining | 0.4 | 1% | -4% | 220% | 208% | 16% | $ 51,678,321.60 |
| MOH | Moho Resources | 0.004 | -20% | 0% | -43% | -33% | -20% | $ 2,865,898.30 |
| BCM | Brazilian Critical | 0.009 | -10% | 13% | -36% | -61% | 0% | $ 9,566,627.29 |
| PUA | Peak Minerals Ltd | 0.007 | -30% | -34% | 261% | 190% | -10% | $ 22,968,992.38 |
| MRZ | Mont Royal Resources | 0.041 | 0% | 28% | -18% | -40% | -5% | $ 3,486,221.51 |
| SMS | Starmineralslimited | 0.03 | 0% | -12% | -15% | -5% | -17% | $ 3,654,199.59 |
| MVL | Marvel Gold Limited | 0.011 | 10% | 0% | 22% | 22% | 22% | $ 8,637,907.03 |
| PRX | Prodigy Gold NL | 0.002 | 0% | -20% | 0% | -44% | 0% | $ 6,350,111.10 |
| AAU | Antilles Gold Ltd | 0.005 | 0% | 25% | 0% | -76% | 67% | $ 10,601,880.29 |
| CWX | Carawine Resources | 0.105 | 9% | 0% | 15% | 0% | 5% | $ 24,793,172.15 |
| RND | Rand Mining Ltd | 1.695 | -1% | -8% | 5% | 25% | 12% | $ 93,560,955.85 |
| CAZ | Cazaly Resources | 0.012 | -14% | -25% | -20% | -37% | -14% | $ 5,996,938.88 |
| BMR | Ballymore Resources | 0.11 | -12% | -27% | -21% | -12% | -8% | $ 20,324,017.28 |
| DRE | Dreadnought Resources Ltd | 0.014 | -18% | 27% | -13% | -18% | 17% | $ 58,228,800.00 |
| ZNC | Zenith Minerals Ltd | 0.048 | 9% | 14% | 33% | -49% | 20% | $ 18,334,863.99 |
| REZ | Resourc & En Grp Ltd | 0.0195 | -19% | -33% | -25% | 95% | -15% | $ 14,776,060.68 |
| LEX | Lefroy Exploration | 0.085 | -3% | -2% | 12% | -26% | 21% | $ 21,115,711.73 |
| ERM | Emmerson Resources | 0.125 | 14% | 14% | 136% | 140% | 62% | $ 76,274,265.48 |
| AM7 | Arcadia Minerals | 0.02 | 0% | -5% | -33% | -71% | 5% | $ 2,347,668.66 |
| ADT | Adriatic Metals | 4.63 | 4% | 10% | 42% | 28% | 19% | $ 1,321,569,591.88 |
| AS1 | Asara Resources Ltd | 0.034 | 6% | 6% | 209% | 278% | 79% | $ 36,338,868.98 |
| CYL | Catalyst Metals | 4.64 | 9% | 11% | 74% | 608% | 80% | $ 996,587,429.04 |
| CHN | Chalice Mining Ltd | 1.38 | -3% | 15% | 10% | 13% | 25% | $ 515,460,494.10 |
| KAL | Kalgoorliegoldmining | 0.064 | -6% | -21% | 146% | 205% | 256% | $ 19,598,703.36 |
| MLS | Metals Australia | 0.021 | 5% | 0% | -16% | -13% | -9% | $ 14,574,390.48 |
| ADN | Andromeda Metals Ltd | 0.0075 | 0% | -6% | 7% | -74% | 7% | $ 24,001,093.82 |
| MEI | Meteoric Resources | 0.071 | 15% | -12% | -32% | -67% | -16% | $ 151,988,943.61 |
| SRN | Surefire Rescs NL | 0.003 | 0% | -14% | -50% | -75% | -14% | $ 7,248,923.44 |
| WA8 | Warriedarresourltd | 0.0465 | -5% | -4% | -26% | -7% | 6% | $ 43,005,690.41 |
| HMX | Hammer Metals Ltd | 0.029 | 0% | -12% | -28% | -19% | -12% | $ 25,745,002.30 |
| WCN | White Cliff Min Ltd | 0.016 | 0% | -16% | 0% | 7% | 0% | $ 30,327,531.97 |
| AVM | Advance Metals Ltd | 0.049 | 7% | -14% | 113% | 48% | 44% | $ 8,937,454.55 |
| ASR | Asra Minerals Ltd | 0.003 | 50% | 0% | -40% | -40% | 0% | $ 7,119,380.49 |
| ARI | Arika Resources | 0.021 | -28% | -42% | 40% | 5% | -22% | $ 13,937,190.04 |
| CTO | Citigold Corp Ltd | 0.004 | 33% | 0% | -20% | 0% | 0% | $ 12,000,000.00 |
| SMI | Santana Minerals Ltd | 0.575 | -4% | -1% | -17% | 29% | 19% | $ 397,495,271.25 |
| M2R | Miramar | 0.003 | -25% | 0% | -63% | -79% | 0% | $ 1,369,040.33 |
| MHC | Manhattan Corp Ltd | 0.018 | -14% | -10% | -10% | -57% | -5% | $ 4,228,180.16 |
| GRL | Godolphin Resources | 0.013 | -7% | -24% | -7% | -64% | -10% | $ 4,309,183.80 |
| SVG | Savannah Goldfields | 0.016 | 7% | -20% | -37% | -41% | -13% | $ 9,623,655.59 |
| EMC | Everest Metals Corp | 0.155 | -6% | -3% | 41% | 87% | 15% | $ 35,805,413.76 |
| GUL | Gullewa Limited | 0.065 | 0% | 16% | 0% | 18% | 16% | $ 14,171,441.18 |
| CY5 | Cygnus Metals Ltd | 0.115 | -4% | -15% | 69% | 125% | 15% | $ 89,169,325.46 |
| G50 | G50Corp Ltd | 0.125 | -22% | -24% | 0% | 30% | -19% | $ 20,074,707.38 |
| ADV | Ardiden Ltd | 0.145 | 4% | -9% | 12% | 4% | 7% | $ 9,065,038.37 |
| AAR | Astral Resources NL | 0.14 | 4% | 0% | 33% | 141% | 4% | $ 196,110,767.40 |
| VMC | Venus Metals Cor Ltd | 0.12 | 32% | 30% | 90% | 33% | 79% | $ 21,574,155.13 |
| NAE | New Age Exploration | 0.005 | 0% | 25% | 25% | 0% | 43% | $ 8,625,595.64 |
| VKA | Viking Mines Ltd | 0.009 | 13% | 13% | 0% | -10% | 13% | $ 11,953,325.88 |
| LCL | LCL Resources Ltd | 0.007 | -22% | -22% | -42% | -42% | -30% | $ 9,558,501.66 |
| MTH | Mithril Silver Gold | 0.4 | 1% | 5% | 220% | 100% | 0% | $ 54,623,820.75 |
| ADG | Adelong Gold Limited | 0.005 | 25% | -29% | 25% | 25% | 11% | $ 6,987,430.99 |
| RMX | Red Mount Min Ltd | 0.009 | 13% | 13% | -10% | -49% | 0% | $ 3,719,662.37 |
| PRS | Prospech Limited | 0.025 | 4% | 0% | -22% | -32% | -14% | $ 8,220,647.18 |
| TTM | Titan Minerals | 0.405 | -4% | -10% | -9% | 45% | 7% | $ 101,435,225.19 |
| AKA | Aureka Limited | 0.155 | 0% | -11% | -98% | -98% | 15% | $ 15,877,408.88 |
| AAM | Aumegametals | 0.044 | -2% | -4% | -8% | 10% | 5% | $ 25,372,747.76 |
| KZR | Kalamazoo Resources | 0.078 | 11% | -4% | -6% | -13% | 5% | $ 15,913,907.29 |
| BCN | Beacon Minerals | 0.026 | 8% | 0% | 0% | 8% | 18% | $ 105,659,104.80 |
| MAU | Magnetic Resources | 1.515 | 21% | 16% | 13% | 50% | 37% | $ 408,144,559.50 |
| BC8 | Black Cat Syndicate | 0.82 | -10% | 12% | 105% | 264% | 45% | $ 511,795,086.98 |
| EM2 | Eagle Mountain | 0.007 | 17% | -22% | -81% | -89% | -22% | $ 7,945,261.02 |
| EMR | Emerald Res NL | 4.12 | 3% | -1% | 1% | 33% | 27% | $ 2,634,752,078.06 |
| BYH | Bryah Resources Ltd | 0.005 | 67% | 25% | 0% | -38% | 67% | $ 3,134,003.64 |
| HCH | Hot Chili Ltd | 0.675 | -2% | -12% | -16% | -28% | -4% | $ 102,965,906.00 |
| WAF | West African Res Ltd | 2.21 | 5% | 24% | 45% | 128% | 54% | $ 2,450,520,214.60 |
| MEU | Marmota Limited | 0.046 | -4% | -19% | 28% | -8% | 18% | $ 53,023,760.55 |
| NVA | Nova Minerals Ltd | 0.295 | 4% | -12% | 84% | 7% | -20% | $ 99,812,999.27 |
| SVL | Silver Mines Limited | 0.09 | 8% | 7% | -14% | -42% | 15% | $ 158,400,009.89 |
| PGD | Peregrine Gold | 0.12 | -8% | -4% | -25% | -52% | -14% | $ 9,138,356.55 |
| ICL | Iceni Gold | 0.079 | -2% | -1% | 126% | 229% | 11% | $ 23,091,410.93 |
| FG1 | Flynngold | 0.022 | -8% | -24% | -12% | -40% | -12% | $ 7,066,867.94 |
| WWI | West Wits Mining Ltd | 0.017 | 0% | 0% | 6% | 6% | 21% | $ 42,001,867.57 |
| RML | Resolution Minerals | 0.011 | 22% | 22% | 38% | -54% | -8% | $ 3,280,905.39 |
| AAJ | Aruma Resources Ltd | 0.011 | 38% | 0% | -50% | -35% | -8% | $ 2,442,639.89 |
| HWK | Hawk Resources. | 0.022 | -4% | -15% | 10% | -51% | 0% | $ 5,234,447.88 |
| GMN | Gold Mountain Ltd | 0.001 | -50% | -60% | -71% | -75% | -67% | $ 9,158,446.37 |
| MEG | Megado Minerals Ltd | 0.015 | 7% | 15% | 12% | 43% | -12% | $ 5,036,199.14 |
| HMG | Hamelingoldlimited | 0.072 | 38% | 31% | 4% | -1% | 13% | $ 10,434,600.00 |
| BM8 | Battery Age Minerals | 0.061 | -10% | -20% | -49% | -55% | -42% | $ 7,505,243.36 |
| TBR | Tribune Res Ltd | 4.72 | -3% | -4% | 21% | 43% | 10% | $ 248,174,004.21 |
| FML | Focus Minerals Ltd | 0.21 | 2% | 0% | 40% | 20% | 24% | $ 60,177,315.45 |
| VRC | Volt Resources Ltd | 0.0045 | -10% | 50% | 13% | -10% | 50% | $ 18,117,573.47 |
| ARV | Artemis Resources | 0.007 | -13% | -30% | -50% | -63% | -13% | $ 20,228,234.46 |
| HRN | Horizon Gold Ltd | 0.435 | 10% | -16% | 26% | 50% | -9% | $ 59,384,368.43 |
| CLA | Celsius Resource Ltd | 0.008 | -27% | -11% | -38% | -38% | -27% | $ 21,353,907.62 |
| QML | Qmines Limited | 0.043 | -4% | -17% | -50% | -26% | -20% | $ 19,300,629.87 |
| RDN | Raiden Resources Ltd | 0.005 | -17% | -29% | -84% | -80% | -55% | $ 17,254,457.21 |
| TCG | Turaco Gold Limited | 0.325 | -4% | -10% | 20% | 110% | 27% | $ 272,815,110.23 |
| KCC | Kincora Copper | 0.031 | 19% | 3% | -38% | -3% | 15% | $ 6,025,392.98 |
| GBZ | GBM Rsources Ltd | 0.007 | -13% | -13% | -22% | -30% | -13% | $ 9,368,559.82 |
| DTM | Dart Mining NL | 0.004 | -33% | -43% | -73% | -69% | -56% | $ 3,438,819.57 |
| MKR | Manuka Resources. | 0.029 | 4% | 26% | -22% | -68% | 4% | $ 21,890,727.06 |
| AUC | Ausgold Limited | 0.53 | 9% | 12% | 29% | 77% | 26% | $ 189,005,845.06 |
| ANX | Anax Metals Ltd | 0.009 | 0% | -10% | -53% | -55% | -25% | $ 7,062,460.54 |
| EMU | EMU NL | 0.03 | 3% | 7% | 36% | 9% | 11% | $ 6,582,447.91 |
| SFM | Santa Fe Minerals | 0.041 | 0% | 11% | 8% | -9% | 32% | $ 2,985,570.35 |
| SSR | SSR Mining Inc. | 16.7 | 4% | 14% | 96% | 168% | 53% | $ 56,065,564.80 |
| PNR | Pantoro Limited | 0.16 | 14% | 10% | 39% | 214% | 78% | $ 982,714,808.40 |
| CMM | Capricorn Metals | 7.99 | 0% | 3% | 28% | 64% | 27% | $ 3,238,002,876.64 |
| X64 | Ten Sixty Four Ltd | 0.57 | 0% | 0% | 0% | 0% | 0% | $ 129,844,903.32 |
| VRL | Verity Resources | 0.013 | -13% | -24% | -68% | -84% | -35% | $ 2,063,302.36 |
| HAW | Hawthorn Resources | 0.043 | -2% | -7% | -30% | -39% | 5% | $ 14,405,671.36 |
| BGD | Bartongoldholdings | 0.295 | -2% | 0% | 20% | 11% | 20% | $ 68,948,185.01 |
| SVY | Stavely Minerals Ltd | 0.016 | -6% | -16% | -47% | -53% | -6% | $ 8,704,673.49 |
| AGC | AGC Ltd | 0.165 | -6% | 22% | -41% | 132% | 6% | $ 43,621,527.74 |
| RGL | Riversgold | 0.0045 | 13% | -10% | 13% | -44% | 13% | $ 6,734,850.37 |
| TSO | Tesoro Gold Ltd | 0.028 | 4% | 2% | -10% | -13% | 40% | $ 41,942,179.11 |
| GUE | Global Uranium | 0.07 | -1% | -13% | 15% | -36% | 17% | $ 18,862,047.62 |
| CPM | Coopermetalslimited | 0.043 | -2% | -7% | -31% | -68% | -7% | $ 3,134,226.00 |
| MM8 | Medallion Metals. | 0.17 | 6% | 3% | 209% | 204% | 42% | $ 71,323,180.05 |
| FFM | Firefly Metals Ltd | 0.985 | -4% | -3% | 5% | 79% | 6% | $ 550,550,248.95 |
| CBY | Canterbury Resources | 0.021 | -19% | -19% | -32% | -30% | -5% | $ 4,146,258.82 |
| SLA | Solara Minerals | 0.125 | -11% | -11% | -48% | -14% | 39% | $ 7,248,102.88 |
| SFR | Sandfire Resources | 10.86 | -4% | 1% | 21% | 37% | 17% | $ 4,917,319,668.96 |
| SMG | Silvermetalgroupltd | 0.06 | 0% | 0% | 0% | 0% | 0% | $ 4,881,135.48 |
| TAM | Tanami Gold NL | 0.029 | 0% | -3% | -12% | -6% | -3% | $ 32,902,717.29 |
| NWM | Norwest Minerals | 0.012 | 9% | -8% | -40% | -57% | -14% | $ 5,336,314.61 |
| ALK | Alkane Resources Ltd | 0.625 | -2% | 0% | 44% | 8% | 23% | $ 366,352,844.66 |
| BMO | Bastion Minerals | 0.004 | 0% | 0% | -33% | -56% | 0% | $ 3,378,898.66 |
| IDA | Indiana Resources | 0.074 | 3% | 0% | 41% | 66% | 21% | $ 48,204,934.35 |
| GSM | Golden State Mining | 0.009 | 13% | -10% | -10% | -25% | 13% | $ 2,234,965.04 |
| NSM | Northstaw | 0.036 | 20% | 80% | 120% | 30% | 125% | $ 9,543,677.50 |
| GSN | Great Southern | 0.022 | 0% | -4% | 10% | 0% | 47% | $ 21,929,694.38 |
| VAU | Vault Minerals Ltd | 0.455 | 10% | 10% | 38% | 30% | 38% | $ 2,959,075,921.17 |
| DEG | De Grey Mining | 2.1 | 2% | 0% | 71% | 67% | 19% | $ 4,843,886,409.38 |
| THR | Thor Energy PLC | 0.012 | -14% | 9% | -20% | -52% | -8% | $ 7,796,688.19 |
| CDR | Codrus Minerals Ltd | 0.015 | -25% | -25% | -32% | -66% | -12% | $ 2,811,587.57 |
| MDI | Middle Island Res | 0.017 | 6% | 13% | 42% | 13% | 42% | $ 4,133,034.53 |
| WTM | Waratah Minerals Ltd | 0.15 | -6% | -19% | -56% | 131% | -3% | $ 32,381,999.84 |
| POL | Polymetals Resources | 0.825 | 14% | 3% | 230% | 211% | 4% | $ 187,078,369.88 |
| RDS | Redstone Resources | 0.003 | -14% | 0% | -25% | -25% | 20% | $ 2,776,135.38 |
| NAG | Nagambie Resources | 0.015 | 0% | 0% | -25% | 7% | -17% | $ 12,852,837.50 |
| BGL | Bellevue Gold Ltd | 1.34 | 2% | 12% | 8% | -15% | 19% | $ 1,630,377,538.07 |
| GBR | Greatbould Resources | 0.073 | 6% | 16% | 49% | 16% | 70% | $ 53,137,023.38 |
| KAI | Kairos Minerals Ltd | 0.019 | 6% | 6% | 90% | 46% | 58% | $ 47,356,419.40 |
| KAU | Kaiser Reef | 0.175 | 6% | 13% | 17% | 25% | 9% | $ 43,000,742.40 |
| HRZ | Horizon | 0.059 | -3% | -14% | 40% | 79% | 48% | $ 119,846,151.71 |
| CDT | Castle Minerals | 0.002 | 0% | -33% | -50% | -71% | 0% | $ 3,855,645.76 |
| RSG | Resolute Mining | 0.43 | 1% | 21% | -41% | 16% | 9% | $ 872,910,505.33 |
| MXR | Maximus Resources | 0.07 | 8% | 9% | 100% | 105% | 21% | $ 29,952,050.68 |
| EVN | Evolution Mining Ltd | 6.76 | 4% | 8% | 56% | 112% | 41% | $ 12,851,154,100.40 |
| CXU | Cauldron Energy Ltd | 0.01 | 11% | -9% | -53% | -76% | -17% | $ 11,691,236.87 |
| DLI | Delta Lithium | 0.165 | -6% | -3% | -18% | -51% | -3% | $ 121,812,104.64 |
| ALY | Alchemy Resource Ltd | 0.007 | 17% | -13% | 40% | -7% | 0% | $ 8,246,533.79 |
| NH3 | Nh3Cleanenergyltd | 0.02 | -11% | 5% | -20% | 18% | 11% | $ 10,992,095.70 |
| OBM | Ora Banda Mining Ltd | 1.1 | 12% | 16% | 86% | 315% | 69% | $ 1,974,860,083.35 |
| AVW | Avira Resources Ltd | 0.009 | 13% | -55% | -55% | -55% | -55% | $ 1,175,517.95 |
| LCY | Legacy Iron Ore | 0.01 | 0% | 0% | -20% | -31% | 0% | $ 97,620,425.84 |
| PDI | Predictive Disc Ltd | 0.335 | -4% | -3% | 20% | 43% | 46% | $ 888,139,241.60 |
| MAT | Matsa Resources | 0.057 | 2% | 10% | 97% | 97% | 63% | $ 41,034,650.05 |
| ZAG | Zuleika Gold Ltd | 0.013 | 18% | 18% | -7% | -28% | 0% | $ 9,644,439.05 |
| GML | Gateway Mining | 0.021 | 0% | -13% | -9% | -28% | 0% | $ 8,585,226.20 |
| SBM | St Barbara Limited | 0.21 | -13% | -16% | -18% | 35% | -7% | $ 211,155,036.50 |
| SBR | Sabre Resources | 0.007 | -13% | -22% | -50% | -61% | -30% | $ 2,750,733.53 |
| STK | Strickland Metals | 0.09 | 8% | 25% | -9% | 6% | 6% | $ 187,630,253.07 |
| CEL | Challenger Gold Ltd | 0.058 | 7% | 12% | 14% | -29% | 23% | $ 92,825,682.46 |
| GG8 | Gorilla Gold Mines | 0.39 | 5% | 73% | 113% | 1009% | 50% | $ 210,462,696.00 |
| NST | Northern Star | 17.87 | 1% | -3% | 15% | 30% | 16% | $ 19,901,072,333.71 |
| OZM | Ozaurum Resources | 0.064 | -4% | -53% | 83% | -23% | 113% | $ 14,727,496.75 |
| TG1 | Techgen Metals Ltd | 0.03 | 7% | -9% | -25% | -10% | -14% | $ 4,601,305.59 |
| XAM | Xanadu Mines Ltd | 0.052 | 4% | 0% | -5% | 30% | 6% | $ 99,434,272.91 |
| AQI | Alicanto Min Ltd | 0.032 | 0% | -11% | 88% | 9% | -14% | $ 27,140,575.23 |
| KTA | Krakatoa Resources | 0.008 | -20% | -20% | -27% | -27% | -16% | $ 5,016,139.21 |
| ARN | Aldoro Resources | 0.32 | -12% | 14% | 300% | 310% | -16% | $ 53,223,655.50 |
| WGX | Westgold Resources. | 2.83 | 12% | 15% | -2% | 12% | 0% | $ 2,489,809,581.60 |
| MBK | Metal Bank Ltd | 0.017 | 21% | 6% | 23% | -22% | 13% | $ 8,456,802.97 |
| A8G | Australasian Metals | 0.075 | -6% | 9% | -42% | 4% | -5% | $ 4,341,729.38 |
| TAR | Taruga Minerals | 0.009 | 0% | -10% | 13% | 29% | -10% | $ 6,354,241.07 |
| DTR | Dateline Resources | 0.0045 | 50% | 13% | -10% | -65% | 29% | $ 11,545,058.79 |
| GOR | Gold Road Res Ltd | 2.64 | 2% | 2% | 60% | 71% | 29% | $ 2,821,416,273.00 |
| S2R | S2 Resources | 0.067 | 3% | -4% | -25% | -48% | 0% | $ 28,530,053.56 |
| NES | Nelson Resources. | 0.003 | 0% | 0% | -25% | 0% | 0% | $ 6,515,782.98 |
| TLM | Talisman Mining | 0.17 | 3% | -13% | -21% | -8% | -17% | $ 31,072,857.59 |
| BEZ | Besragoldinc | 0.037 | 28% | -42% | -59% | -73% | -59% | $ 11,633,690.63 |
| PRU | Perseus Mining Ltd | 3.18 | 2% | 12% | 23% | 57% | 24% | $ 4,308,659,421.06 |
| SPQ | Superior Resources | 0.007 | 0% | 0% | -13% | -36% | 17% | $ 15,189,046.59 |
| PUR | Pursuit Minerals | 0.073 | 4% | 0% | -51% | -64% | -24% | $ 6,027,412.54 |
| RMS | Ramelius Resources | 2.2 | -20% | -16% | -4% | 41% | 6% | $ 2,483,695,628.35 |
| PKO | Peako Limited | 0.003 | 0% | 0% | 0% | -35% | 0% | $ 3,719,354.90 |
| ICG | Inca Minerals Ltd | 0.0055 | -8% | -8% | -8% | -8% | 10% | $ 5,646,973.93 |
| A1G | African Gold Ltd. | 0.063 | -2% | -10% | 58% | 100% | 15% | $ 23,283,518.22 |
| NMG | New Murchison Gold | 0.015 | 50% | 25% | 114% | 150% | 67% | $ 124,342,950.75 |
| GNM | Great Northern | 0.014 | 0% | -7% | 0% | -18% | 0% | $ 2,319,436.16 |
| KRM | Kingsrose Mining Ltd | 0.037 | 3% | 3% | -5% | 9% | 6% | $ 26,373,428.17 |
| BTR | Brightstar Resources | 0.021 | 17% | 5% | 11% | 31% | 5% | $ 239,529,476.97 |
| RRL | Regis Resources | 3.56 | 9% | 11% | 86% | 83% | 40% | $ 2,545,959,963.58 |
| M24 | Mamba Exploration | 0.012 | -20% | -14% | -33% | -52% | 0% | $ 4,132,318.54 |
| TRM | Truscott Mining Corp | 0.073 | 4% | -3% | 22% | 50% | -6% | $ 13,975,744.88 |
| TNC | True North Copper | 0.37 | 7% | -9% | -90% | -95% | -88% | $ 42,156,070.36 |
| MOM | Moab Minerals Ltd | 0.001 | -50% | -50% | -80% | -86% | -50% | $ 1,733,666.03 |
| KNB | Koonenberrygold | 0.029 | -3% | -12% | 222% | 17% | 142% | $ 26,346,716.03 |
| AWJ | Auric Mining | 0.29 | 12% | -6% | 1% | 81% | -15% | $ 37,983,109.61 |
| ENR | Encounter Resources | 0.225 | -4% | -12% | -52% | -13% | -31% | $ 112,228,271.78 |
| SNG | Siren Gold | 0.054 | -4% | -10% | -14% | -2% | -17% | $ 11,933,898.19 |
| STN | Saturn Metals | 0.255 | 28% | 2% | 16% | 55% | 24% | $ 75,676,796.58 |
| USL | Unico Silver Limited | 0.21 | 8% | -5% | 8% | 100% | 8% | $ 85,399,032.23 |
| PNM | Pacific Nickel Mines | 0.024 | 0% | 0% | 0% | -40% | 0% | $ 10,103,834.52 |
| AYM | Australia United Min | 0.003 | 0% | 0% | 50% | 0% | -25% | $ 5,527,732.46 |
| ANL | Amani Gold Ltd | 0 | -100% | -100% | -100% | -100% | -100% | $ 21,449,587.12 |
| HAV | Havilah Resources | 0.195 | -5% | -7% | 8% | 26% | -13% | $ 66,154,977.72 |
| SPR | Spartan Resources | 1.6 | 11% | 18% | 13% | 164% | 13% | $ 1,921,388,028.00 |
| PNT | Panthermetalsltd | 0.016 | -16% | 129% | -11% | -40% | 45% | $ 4,814,472.77 |
| MEK | Meeka Metals Limited | 0.145 | 12% | 26% | 184% | 282% | 88% | $ 326,386,797.10 |
| GMD | Genesis Minerals | 3.4 | 4% | 6% | 55% | 80% | 38% | $ 3,637,610,590.60 |
| PGO | Pacgold | 0.072 | 18% | 20% | -20% | -54% | -4% | $ 8,018,714.62 |
| FEG | Far East Gold | 0.165 | 6% | -6% | 0% | 27% | -8% | $ 58,724,392.48 |
| MI6 | Minerals260Limited | 0.13 | 0% | 0% | -4% | -13% | 0% | $ 30,420,000.00 |
| IGO | IGO Limited | 3.99 | 1% | -18% | -26% | -47% | -16% | $ 2,907,908,401.92 |
| GAL | Galileo Mining Ltd | 0.135 | -10% | 0% | -16% | -45% | 8% | $ 26,679,365.15 |
| RXL | Rox Resources | 0.335 | 31% | 49% | 139% | 104% | 68% | $ 194,522,671.36 |
| PTN | Patronus Resources | 0.06 | 3% | -6% | 9% | -13% | 22% | $ 98,243,868.24 |
| CLZ | Classic Min Ltd | 0.001 | 0% | 0% | 0% | -98% | 0% | $ 1,544,025.56 |
| TGM | Theta Gold Mines Ltd | 0.155 | 0% | -3% | 7% | 29% | -14% | $ 131,661,437.03 |
| FAL | Falconmetalsltd | 0.115 | 10% | -15% | -52% | -12% | 0% | $ 21,240,000.00 |
| SPD | Southernpalladium | 0.4 | -6% | 1% | 7% | 16% | -33% | $ 38,653,750.00 |
| ORN | Orion Minerals Ltd | 0.016 | 7% | 14% | 7% | 14% | 7% | $ 109,607,165.09 |
| TMB | Tambourahmetals | 0.033 | 18% | 18% | -8% | -63% | 57% | $ 3,292,521.29 |
| TMS | Tennant Minerals Ltd | 0.014 | -7% | 0% | -22% | -50% | 56% | $ 13,382,465.81 |
| AZY | Antipa Minerals Ltd | 0.47 | 18% | 31% | 194% | 248% | 81% | $ 236,428,017.65 |
| PXX | Polarx Limited | 0.007 | 0% | -13% | -13% | -42% | 8% | $ 16,628,506.85 |
| TRE | Toubani Res Ltd | 0.16 | 7% | 14% | -40% | 52% | -6% | $ 34,343,993.85 |
| AUN | Aurumin | 0.065 | -2% | 0% | 51% | 76% | -2% | $ 32,126,909.36 |
| GPR | Geopacific Resources | 0.022 | 10% | 0% | -6% | 26% | 10% | $ 63,649,306.52 |
| FXG | Felix Gold Limited | 0.135 | -13% | -13% | 45% | 297% | 61% | $ 47,691,425.97 |
| ILT | Iltani Resources Lim | 0.24 | 7% | 9% | 12% | 50% | 17% | $ 9,760,882.12 |
| BRX | Belararoxlimited | 0.09 | -3% | -40% | -64% | -68% | -49% | $ 13,532,626.62 |
| TM1 | Terra Metals Limited | 0.019 | -10% | -41% | -44% | -63% | -32% | $ 8,152,701.24 |
| TOR | Torque Met | 0.099 | 4% | 6% | -6% | -38% | 87% | $ 26,696,728.67 |
| ARD | Argent Minerals | 0.022 | 10% | -4% | 22% | 120% | 29% | $ 31,804,090.56 |
| LM1 | Leeuwin Metals Ltd | 0.12 | 0% | -14% | 41% | 50% | -14% | $ 7,522,950.72 |
| SX2 | Southgold Consol | 3.84 | 7% | 3% | 0% | 0% | 0% | $ 459,300,506.25 |
Standout gold stocks of the week
New Murchison Gold (ASX:NMG)
Argonaut Funds Management’s David Franklyn picked this as his stock of the month for February and you would have been smiling this week if you took his advice.
Alex Passmore’s NMG has drawn interest thanks to its plans to produce 140,000oz over 2.5 years from its Crown Prince deposit near Meekatharra in a partnership with proposed ore processor Westgold.
But the kicker was a drill hit beneath the base of that planned open pit, around 252m downhole which pulled out some of the speckiest licks of visible gold we’ve ever seen.
NMG CEO Alex Passmore cautioned that assays are awaited, though it’s understandable why the disclosure had to be made this week.
“We look forward to further updating the market on the assay results and what the broader results are from this deeper drilling program,” he added.
NMG has a resource of 279,000oz at Crown Prince at 3.9g/t, its ore reserve 890,000t at 4.8g/t for 140,000oz.
But there’s hope the VG points to a prolific underground beyond, representing the deepest example of gold mineralisation at the South Eastern Zone of the deposit.
More assays are pending, with up to 12 diamond holes planned in the current program.
Saturn Metals (ASX:STN)
A favourite of our friends Tony Locantro, Hedley Widdup and John Forwood, Saturn is now up close to a quarter YTD, after expanding its resources at the Apollo Hill gold project near Leonora in WA to over 2Moz last month.
The project is an interesting one for WA.
It’s a bulky low grade ore body that will likely be developed as a very large heap leach.
It’s unconventional here, but one of the key gold production methods internationally, and the Ian Bamborough-led company’s backers are confident it will be a money-spinner once the capital is spent.
STN has a market cap currently of $77m.
Explore More
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Investor Guide: Gold & Copper FY2025 featuring Barry FitzGerald
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