Gold Digger: Buckle up! Central Banks are buying gold at the fastest pace on record

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  • Central banks buying gold at the fastest pace on record
  • Another gold bull signal for 2023 — the crypto collapse
  • Global silver demand on course for record high in 2022

Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.

Central banks buying gold at the fastest pace on record

UBS are the latest investment bank getting bullish on gold.

With anaemic global growth in the range of around 2% next year, UBS can foresee a switch into gold, particularly in a falling USD environment.

The reasoning was partially based around their observation that longer term investors (particularly central banks) were starting to accumulate heavily.

Justin McQueen, Senior Market Analyst at Capital.com, says central banks have been buying gold in Q3 at the fastest pace on record at roughly $20bn.

Among the largest buyers of gold are Turkey, Qatar and Uzbekistan.

However, there have been central banks that have not been identified that have purchased a sizeable amount of gold. Some speculate this may be in fact China, as per reports in the Nikkei.

“The rationale is that China would look to reduce their exposure to the US dollar and therefore has been stockpiling on gold,” McQueen says.

“Now while China’s involvement cannot be confirmed, the fact that central banks have been excessively accumulating does provide an undercurrent of support for the precious metal.”

Another gold bull signal — the crypto collapse

Earlier this week two of Australia’s biggest gold miners said the “unravelling of cryptocurrency” would add to bullish conditions for the precious metal in the coming year.

The vast bulk of gold price moves are driven by demand from investors, an area where cryptos like Bitcoin have proved a disrupter in recent years at a time when the degeneration of global diplomatic relations between Russia, China and the West should have been a tailwind for gold prices, writes Josh Chiat.

Evolution Mining (ASX:EVN) boss Jake Klein, who chairs Australia’s third largest gold miner, told shareholders at the company’s AGM today the FTX platform’s multi-billion dollar collapse reinforced gold’s place as the superior store of wealth globally.

“A stronger US dollar and the Federal Reserve’s aggressive monetary tightening, particularly since June, have until recently been a key headwind for the gold price whilst inflation has concurrently put upward pressure on costs,” he said.

“Looking forward though, the outlook for gold is stronger with the Fed expected to ease interest rate increases within 12 months as inflation reduces and the global economy is expected to slow significantly.

“The recent developments in the crypto space, with significant losses incurred by investors in FTX and other crypto assets, have also reinforced gold’s worth as a superior storer of value.

“In uncertain times like this, we believe that Evolution is well placed to prosper through these headwinds the sector is currently experiencing.”

Regis Resources (ASX:RRL) chairman James MacTier said much the same.

“Recently, buying of gold by central banks, a weaker USD, stabilising bond yields, continued geopolitical risk and the unravelling of crypto “currencies” are combining to give renewed support to the gold price and gold equities,” he said.

“This, combined with our own improving performance and growth initiatives, bodes well for the future of our company.”

EVN, RRL share price charts

 

Global silver demand on course for record high in 2022

Gold isn’t the only precious metal in demand.

This year, global physical silver demand is expected to jump by 16% year-on-year to a new high of 1.2 billion ounces (37,644t), Metals Focus says.

To put this into perspective, over the previous 12 years, silver demand has averaged “just” 1Bn ounces (30,907t).

“This year’s performance will comfortably outstrip an estimated 2% rise for global silver supply,” it says.

“As a result, the physical deficit is expected to surge to 194Moz (6,023t) this year, which at the very least will be a multi-decade high.”

The sharp increase has been reflected in a steep fall in exchange-held silver bullion stocks, which have fallen by around 400Moz over the first 10 months to around 1.3Bn ounces.

Even so, the silver price has generally underperformed this year, dropping by around 6% intra-year against a 2% loss for gold, Metals Focus says.

Silver – which has a dual role as an investment and industrial product — has come under pressure for two main reasons.

“First, expectations this year of aggressive rate tightening by the Fed, which has contributed to the multi-decade high in the US dollar, has weighed on gold, which in turn has affected silver,” it says.

“Second, growing concerns about a recession have impacted base metals, especially over the past 3-4 months, which in turn has hit silver, given its importance as an industrial metal.

“As a result, silver’s dual role as a precious and industrial metal has meant that investors have responded by building short positions on the CME, especially during much of the second half of this year.

“This helps explain why the gold:silver ratio has trended higher over this timeframe, reaching the low 80s.”

The often-mentioned ‘gold-silver ratio’ is simply the amount of silver it takes to purchase one ounce of gold.

The 20-year average is 60:1, which means silver is currently trading at a historically wide discount to the gold price.

Winners & Losers

Here’s how ASX-listed precious metals stocks are performing:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.

Stocks missing from this list? Email [email protected]

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
ICL Iceni Gold 167% 121% 35% -23% 0.155 $17,947,500
HAW Hawthorn Resources 69% 76% 25% 50% 0.15 $33,351,561
RDS Redstone Resources 67% 25% 25% -33% 0.01 $7,368,324
CDR Codrus Minerals Ltd 64% 74% 46% -23% 0.12 $4,800,000
LCL Los Cerros Limited 48% 79% -32% -67% 0.043 $23,423,359
BEZ Besragoldinc 40% 14% -29% -61% 0.056 $14,118,369
MI6 Minerals260Limited 36% 47% 8% -33% 0.455 $99,000,000
TSC Twenty Seven Co. Ltd 33% 0% -5% -37% 0.002 $7,982,442
EMU EMU NL 33% 33% -56% -65% 0.008 $4,810,877
MZZ Matador Mining Ltd 26% 45% -34% -61% 0.145 $42,149,815
SIH Sihayo Gold Limited 25% 25% -38% -69% 0.0025 $12,204,256
VKA Viking Mines Ltd 25% 25% 25% -47% 0.01 $10,252,584
AMI Aurelia Metals Ltd 22% 22% -60% -64% 0.14 $160,866,838
OAU Ora Gold Limited 20% -25% -50% -63% 0.006 $5,905,388
GSM Golden State Mining 20% 53% -20% -45% 0.055 $6,669,810
MKR Manuka Resources. 19% 32% -16% -49% 0.185 $74,073,388
IPT Impact Minerals 18% 67% 0% -26% 0.01 $22,332,335
AWJ Auric Mining 17% 14% -12% -39% 0.082 $5,812,751
PUA Peak Minerals Ltd 17% 0% -50% -51% 0.007 $6,768,910
FML Focus Minerals Ltd 15% 39% 11% -34% 0.195 $54,446,143
BBX BBX Minerals Ltd 14% 41% -26% -54% 0.0775 $37,720,914
SVL Silver Mines Limited 14% 17% 14% 0% 0.21 $264,825,589
ASO Aston Minerals Ltd 13% -3% -45% -33% 0.077 $82,401,289
CHN Chalice Mining Ltd 13% 17% -21% -43% 5.245 $1,975,560,269
MLS Metals Australia 11% 20% -49% 23% 0.049 $29,744,773
TBR Tribune Res Ltd 11% 12% -6% -25% 3.8 $199,378,693
LCY Legacy Iron Ore 11% 0% -13% -17% 0.02 $115,322,872
AGG AngloGold Ashanti 11% 39% 11% 0% 5.64 $477,261,543
TMZ Thomson Res Ltd 11% 11% -25% -70% 0.021 $16,127,338
SFR Sandfire Resources 10% 51% -3% -15% 5.215 $2,116,537,097
KAL Kalgoorliegoldmining 10% 5% -4% -33% 0.11 $7,743,460
G50 Gold50Limited 10% 83% 5% -21% 0.22 $12,527,460
ZAG Zuleika Gold Ltd 10% 16% -42% 16% 0.022 $11,474,114
RMS Ramelius Resources 10% 46% -32% -45% 0.9125 $754,536,291
ICG Inca Minerals Ltd 10% 6% -59% -70% 0.034 $17,354,262
YRL Yandal Resources 9% 9% -41% -69% 0.12 $18,147,067
AAJ Aruma Resources Ltd 8% 5% 1% 4% 0.077 $12,399,959
TAR Taruga Minerals 8% 26% 77% -13% 0.039 $25,825,670
RRL Regis Resources 8% 31% -4% 1% 1.965 $1,438,324,387
KCC Kincora Copper 8% 13% -20% -46% 0.068 $4,843,331
BGL Bellevue Gold Ltd 8% 35% 11% 16% 0.97 $1,021,339,170
BCN Beacon Minerals 8% 12% -13% -10% 0.028 $101,432,741
CY5 Cygnus Gold Limited 7% 9% 248% 166% 0.505 $79,675,535
RED Red 5 Limited 7% 18% -53% -32% 0.1825 $512,846,149
MEI Meteoric Resources 7% 25% 7% -12% 0.015 $22,894,461
E2M E2 Metals 7% 11% -14% -62% 0.15 $25,887,202
ZNC Zenith Minerals Ltd 7% 7% -15% 31% 0.315 $107,108,806
WRM White Rock Min Ltd 7% 22% -27% -70% 0.095 $19,090,356
REZ Resourc & En Grp Ltd 6% 0% -55% -66% 0.017 $8,496,698
AM7 Arcadia Minerals 6% -19% 11% 19% 0.255 $11,907,962
CLA Celsius Resource Ltd 6% 31% -11% -35% 0.017 $25,548,094
LRL Labyrinth Resources 6% -6% -37% -58% 0.017 $15,720,602
SBM St Barbara Limited 6% 38% -47% -54% 0.6475 $538,587,486
TIE Tietto Minerals 6% 16% 86% 76% 0.8 $863,621,992
GMR Golden Rim Resources 6% -8% -44% -63% 0.036 $11,300,882
GOR Gold Road Res Ltd 6% 33% 34% 15% 1.7625 $1,899,020,506
OZM Ozaurum Resources 6% -8% -63% -51% 0.074 $5,019,552
NST Northern Star 6% 27% 19% 10% 10.62 $12,265,364,037
AUT Auteco Minerals 5% 18% 7% -24% 0.058 $124,070,178
SPQ Superior Resources 5% 28% 74% 247% 0.059 $103,774,445
EVN Evolution Mining Ltd 5% 38% -27% -33% 2.695 $5,027,664,730
BRB Breaker Res NL 5% 33% 33% -18% 0.305 $97,843,350
TAM Tanami Gold NL 5% 5% -24% -41% 0.042 $48,178,979
TG1 Techgen Metals Ltd 5% -9% -32% -48% 0.105 $4,982,155
KSN Kingston Resources 5% 43% -24% -42% 0.11 $40,512,869
SSR SSR Mining Inc. 5% 1% -23% -14% 22.45 $405,711,148
FAL Falconmetalsltd 5% 15% -12% 0% 0.23 $40,710,000
BNR Bulletin Res Ltd 4% 4% -26% 56% 0.125 $35,110,932
MOH Moho Resources 4% 4% -26% -58% 0.025 $5,191,555
MVL Marvel Gold Limited 4% 4% -36% -64% 0.025 $17,612,359
NSM Northstaw 4% -29% -53% -69% 0.1 $12,012,700
GSR Greenstone Resources 4% 4% -42% -13% 0.026 $27,939,053
TUL Tulla Resources 4% -12% -31% -29% 0.395 $77,228,203
BYH Bryah Resources Ltd 4% 8% -37% -50% 0.027 $7,593,844
TBA Tombola Gold Ltd 4% -4% -53% -18% 0.027 $33,065,371
DEG De Grey Mining 4% 21% 18% 1% 1.275 $1,988,415,943
AQI Alicanto Min Ltd 4% 68% -24% -61% 0.057 $25,348,676
VMC Venus Metals Cor Ltd 4% 21% -17% -26% 0.145 $25,821,409
KCN Kingsgate Consolid. 3% 24% 28% 37% 1.94 $437,107,895
GIB Gibb River Diamonds 3% 9% 9% -27% 0.06 $12,690,567
ALY Alchemy Resource Ltd 3% 15% 15% 150% 0.03 $30,629,983
GWR GWR Group Ltd 3% 2% -49% -39% 0.064 $20,557,866
WAF West African Res Ltd 3% 13% -8% -14% 1.165 $1,189,910,664
NCM Newcrest Mining 3% 15% -21% -17% 19.84 $17,731,183,028
RXL Rox Resources 3% -11% -48% -56% 0.17 $34,999,930
BMR Ballymore Resources 3% -10% -17% -24% 0.175 $16,267,718
WCN White Cliff Min Ltd 3% -13% -17% 35% 0.0175 $12,709,257
HXG Hexagon Energy 3% 25% -38% -81% 0.0175 $9,745,402
MEK Meeka Metals Limited 3% 15% 15% 43% 0.07 $76,867,843
AXE Archer Materials 3% -6% -5% -49% 0.715 $184,235,733
AGC AGC Ltd 3% 4% -17% -31% 0.072 $5,147,274
KAU Kaiser Reef 3% 0% -14% -10% 0.18 $24,710,860
MRZ Mont Royal Resources 3% 0% -41% -53% 0.19 $12,736,831
MTC Metalstech Ltd 2% 2% 6% 71% 0.42 $71,933,201
MKG Mako Gold 2% 2% -47% -61% 0.043 $19,337,706
SLR Silver Lake Resource 2% 8% -19% -26% 1.2525 $1,162,180,416
MEU Marmota Limited 2% 2% -30% 4% 0.047 $49,763,627
ADN Andromeda Metals Ltd 2% 19% -49% -70% 0.05 $158,610,430
RDT Red Dirt Metals Ltd 2% 7% 2% -23% 0.57 $191,319,265
KTA Krakatoa Resources 2% -3% -20% 7% 0.06 $20,682,595
ALK Alkane Resources Ltd 2% -2% -39% -23% 0.64 $389,215,185
CHZ Chesser Resources 1% 5% -21% -43% 0.077 $47,049,849
WGX Westgold Resources. 1% 4% -43% -60% 0.82 $388,370,639
TSO Tesoro Gold Ltd 1% 4% -53% -51% 0.037 $35,711,308
CWX Carawine Resources 1% 3% -41% -58% 0.089 $17,516,755
M2R Miramar 1% -9% -20% -53% 0.096 $6,785,447
ARL Ardea Resources Ltd 1% 6% -10% 104% 1.02 $176,527,283
CMM Capricorn Metals 1% 29% 16% 45% 4.28 $1,634,053,058
PRU Perseus Mining Ltd 0% 24% 16% 31% 2.18 $3,048,202,882
GMD Genesis Minerals 0% 10% -8% -10% 1.28 $540,865,787
MRR Minrex Resources Ltd 0% 0% -15% 100% 0.044 $47,134,064
NPM Newpeak Metals 0% 0% 0% 0% 0.001 $9,040,417
FFX Firefinch Ltd 0% 0% -39% -18% 0.2 $236,248,644
GED Golden Deeps 0% -29% -38% -17% 0.01 $11,552,267
G88 Golden Mile Res Ltd 0% -12% -56% -50% 0.023 $4,705,564
NMR Native Mineral Res 0% 45% 27% -17% 0.21 $23,129,970
AQX Alice Queen Ltd 0% -33% -60% -82% 0.002 $4,400,500
PNX PNX Metals Limited 0% 25% 11% -26% 0.005 $19,998,260
TMX Terrain Minerals 0% 17% -30% -13% 0.007 $5,325,327
NXM Nexus Minerals Ltd 0% 12% -39% -62% 0.19 $61,836,129
SKY SKY Metals Ltd 0% -9% -38% -43% 0.05 $20,723,091
LM8 Lunnonmetalslimited 0% 5% -7% 119% 0.81 $90,098,424
CST Castile Resources 0% 13% -24% -37% 0.13 $30,237,803
SMS Starmineralslimited 0% -16% -65% -56% 0.073 $2,159,340
PRX Prodigy Gold NL 0% 20% -36% -61% 0.012 $20,974,594
LEX Lefroy Exploration 0% -5% -4% -22% 0.27 $39,386,160
SRN Surefire Rescs NL 0% -4% -61% 0% 0.012 $18,976,362
AWV Anova Metals Ltd 0% 14% 33% -20% 0.016 $25,569,507
AVM Advance Metals Ltd 0% -14% 9% -37% 0.012 $5,784,529
MCT Metalicity Limited 0% 14% -20% -58% 0.004 $13,968,157
AME Alto Metals Limited 0% -3% -17% -33% 0.07 $39,377,704
CTO Citigold Corp Ltd 0% 17% 0% -30% 0.007 $19,835,614
TRY Troy Resources Ltd 0% 0% 0% 0% 0.0295 $62,920,961
CGN Crater Gold Min Ltd 0% 0% 0% 0% 0.017 $21,063,474
GUL Gullewa Limited 0% -2% -18% -24% 0.061 $11,645,089
ADV Ardiden Ltd 0% 29% -22% -31% 0.009 $24,015,018
RMX Red Mount Min Ltd 0% -17% -38% -55% 0.005 $8,211,819
XTC Xantippe Res Ltd 0% -13% -36% 40% 0.007 $57,016,609
TTM Titan Minerals 0% 32% 37% 0% 0.1 $148,183,685
WWI West Wits Mining Ltd 0% -6% -37% -50% 0.017 $34,765,640
RML Resolution Minerals 0% -18% -18% -50% 0.009 $9,537,716
AL8 Alderan Resource Ltd 0% -11% -56% -78% 0.008 $4,626,129
PF1 Pathfinder Resources 0% 0% 0% 59% 0.5 $28,984,082
HRN Horizon Gold Ltd 0% 5% -14% -15% 0.325 $40,684,033
RDN Raiden Resources Ltd 0% -11% -33% -67% 0.008 $13,059,537
TCG Turaco Gold Limited 0% 29% -35% -54% 0.058 $24,807,567
X64 Ten Sixty Four Ltd 0% -6% -25% -28% 0.58 $131,326,148
RVR Red River Resources 0% -8% -62% -62% 0.073 $37,847,908
CBY Canterbury Resources 0% -11% -30% -59% 0.039 $5,226,918
WMC Wiluna Mining Corp 0% 0% -58% -78% 0.205 $74,238,031
BMO Bastion Minerals 0% -12% -60% -76% 0.06 $5,694,996
HRZ Horizon 0% 25% -47% -51% 0.069 $42,976,389
CXU Cauldron Energy Ltd 0% 10% -15% -59% 0.011 $5,354,113
VAN Vango Mining Ltd 0% -3% -17% -36% 0.039 $49,137,568
AVW Avira Resources Ltd 0% 0% -33% -50% 0.003 $6,401,370
SBR Sabre Resources 0% -27% -20% -20% 0.004 $11,659,424
STK Strickland Metals 0% -25% -43% -39% 0.043 $61,786,786
XAM Xanadu Mines Ltd 0% -4% 4% -4% 0.027 $38,131,026
MBKDA Metal Bank Ltd 0% 0% -50% -67% 0.03 $7,845,743
NES Nelson Resources. 0% 0% -47% -74% 0.007 $4,120,160
PUR Pursuit Minerals 0% 9% -37% -66% 0.012 $11,978,150
GNM Great Northern 0% 0% -20% -43% 0.004 $6,836,204
M24 Mamba Exploration 0% -15% -15% -50% 0.11 $4,639,250
TRM Truscott Mining Corp 0% 0% -40% -3% 0.034 $5,367,598
DEX Duke Exploration 0% 0% -59% -76% 0.053 $5,587,240
MOM Moab Minerals Ltd 0% -9% -64% -71% 0.01 $6,819,635
SNG Siren Gold 0% -5% -55% -50% 0.18 $20,461,958
AYM Australia United Min 0% 0% -33% -60% 0.004 $7,370,310
GCY Gascoyne Res Ltd 0% -15% -28% -41% 0.195 $83,082,880
PNT Panthermetalsltd 0% -3% -16% 0% 0.185 $5,642,500
ADT Adriatic Metals 0% 28% 24% 11% 2.94 $623,725,120
GAL Galileo Mining Ltd 0% -13% 11% 345% 1.045 $212,213,880
HCH Hot Chili Ltd -1% -8% -30% -57% 0.9 $103,917,329
MAU Magnetic Resources -1% -6% -45% -50% 0.795 $188,018,019
GRL Godolphin Resources -1% -1% -32% -43% 0.082 $9,824,664
KIN KIN Min NL -1% -1% 0% -26% 0.078 $79,687,635
ANX Anax Metals Ltd -1% 14% -20% -30% 0.067 $27,228,453
CYL Catalyst Metals -1% 15% -17% -38% 1.33 $131,931,238
HAV Havilah Resources -1% 12% 25% 74% 0.33 $107,657,331
AAR Astral Resources NL -2% 3% -27% -32% 0.062 $39,259,189
SMI Santana Minerals Ltd -2% -13% -35% 89% 0.585 $88,522,671
KAI Kairos Minerals Ltd -2% 0% 7% 4% 0.029 $54,994,618
AZS Azure Minerals -2% -8% 4% -24% 0.285 $90,403,359
IVR Investigator Res Ltd -2% 13% -2% -26% 0.053 $69,532,510
PNR Pantoro Limited -2% -5% -52% -60% 0.1325 $228,795,403
DRE Dreadnought Resources Ltd -2% -15% 124% 104% 0.094 $282,781,463
EMR Emerald Res NL -2% 0% -6% 6% 1.13 $676,591,121
NML Navarre Minerals Ltd -2% -6% -44% -39% 0.045 $66,142,441
CDT Castle Minerals -2% -10% -40% -26% 0.0215 $20,989,353
SVG Savannah Goldfields -3% -3% -3% -15% 0.195 $33,656,695
OKR Okapi Resources -3% -17% -21% -64% 0.19 $27,994,314
RSG Resolute Mining -3% 12% -33% -44% 0.19 $306,712,104
AAU Antilles Gold Ltd -3% -23% -47% -52% 0.036 $14,552,449
DTM Dart Mining NL -3% -16% 4% -27% 0.07 $10,868,211
DTR Dateline Resources -3% 3% -36% -15% 0.07 $39,345,622
KWR Kingwest Resources -3% 3% -77% -84% 0.034 $9,578,712
GBR Greatbould Resources -3% -2% -10% -38% 0.09 $37,635,623
TLM Talisman Mining -4% -4% -10% -27% 0.135 $25,344,832
DCN Dacian Gold Ltd -4% -7% -37% -40% 0.13 $146,016,113
CLZ Classic Min Ltd -4% -26% -91% -91% 0.0125 $8,836,600
GSN Great Southern -4% -6% 7% -31% 0.045 $26,695,107
HMX Hammer Metals Ltd -5% 9% -6% 37% 0.063 $50,865,256
IGO IGO Limited -5% -6% 27% 48% 15.12 $11,964,831,445
PNM Pacific Nickel Mines -5% 0% 1% -30% 0.07 $25,083,060
KRM Kingsrose Mining Ltd -5% 4% -15% -29% 0.056 $44,399,065
PGD Peregrine Gold -5% -22% -6% 26% 0.46 $17,825,869
BNZ Benzmining -5% 0% -27% -33% 0.455 $31,378,609
SLZ Sultan Resources Ltd -5% -7% -42% -42% 0.09 $7,495,595
RND Rand Mining Ltd -5% -13% -10% -10% 1.35 $76,782,547
OBM Ora Banda Mining Ltd -5% 0% 119% 16% 0.081 $107,293,082
BTR Brightstar Resources -5% 20% -18% -68% 0.018 $12,968,957
TGM Theta Gold Mines Ltd -5% -9% -28% -58% 0.072 $43,369,474
ARN Aldoro Resources -5% 37% 69% -25% 0.355 $40,495,434
IDA Indiana Resources -5% -7% -5% -17% 0.053 $25,906,655
RGL Riversgold -5% -19% -19% 93% 0.035 $34,982,305
NAG Nagambie Resources -5% -7% 35% -15% 0.07 $35,420,986
VRC Volt Resources Ltd -6% -43% -11% -41% 0.017 $62,070,782
SVY Stavely Minerals Ltd -6% 13% -53% -66% 0.17 $58,131,838
MM8 Medallion Metals. -6% 10% -26% -23% 0.17 $23,792,360
CEL Challenger Exp Ltd -6% 3% -39% -48% 0.165 $172,410,356
SFM Santa Fe Minerals -6% -6% -18% -32% 0.082 $5,825,503
A1G African Gold Ltd. -6% 14% -30% -53% 0.078 $9,314,006
CAZ Cazaly Resources -6% 3% -16% -28% 0.031 $11,495,476
GBZ GBM Rsources Ltd -6% -8% -52% -62% 0.046 $26,914,266
GML Gateway Mining -6% -19% -45% -59% 0.061 $14,464,702
CPM Coopermetalslimited -6% -5% -39% 54% 0.3 $12,306,000
PDI Predictive Disc Ltd -7% 14% 3% -18% 0.2 $363,987,484
BC8 Black Cat Syndicate -7% 2% -23% -44% 0.33 $69,629,357
GTR Gti Energy Ltd -7% -19% -19% -54% 0.013 $20,324,028
BGD Bartongoldholdings -7% 31% -14% 3% 0.19 $16,386,038
AUC Ausgold Limited -7% -3% -24% -7% 0.0435 $85,237,931
CAI Calidus Resources -8% 3% -56% -42% 0.36 $159,790,322
PGO Pacgold -8% 0% -33% -11% 0.42 $21,984,726
KNB Koonenberrygold -8% -8% -29% -60% 0.07 $5,302,951
EM2 Eagle Mountain -8% -13% -52% -71% 0.17 $45,605,061
FAU First Au Ltd -8% 10% -58% -45% 0.0055 $5,235,963
FG1 Flynngold -8% 0% -24% -37% 0.11 $7,687,326
A8G Australasian Metals -8% -10% -44% -58% 0.22 $9,057,509
MEG Megado Minerals Ltd -9% -37% -64% -50% 0.05 $6,875,000
POL Polymetals Resources -9% 5% 54% 33% 0.2 $8,236,538
MAT Matsa Resources -9% 5% -26% -27% 0.04 $16,886,039
ERM Emmerson Resources -9% -5% -17% -3% 0.078 $43,576,783
THR Thor Mining PLC -10% 0% -28% -40% 0.009 $9,925,951
KZR Kalamazoo Resources -10% 19% -37% -38% 0.22 $36,460,747
ASR Asra Minerals Ltd -11% -32% -54% -26% 0.017 $24,892,446
HMG Hamelingoldlimited -11% 17% 26% 3% 0.17 $18,700,000
STN Saturn Metals -11% -19% -49% -63% 0.2 $27,171,466
MGV Musgrave Minerals -11% -7% -28% -36% 0.21 $124,343,278
ADG Adelong Gold Limited -11% -11% -73% -80% 0.008 $3,545,495
BAT Battery Minerals Ltd -11% -20% -56% -71% 0.004 $11,700,969
SAU Southern Gold -11% -29% -41% -64% 0.024 $6,666,522
ARV Artemis Resources -12% -12% -12% -64% 0.03 $43,133,970
S2R S2 Resources -12% 7% -17% -30% 0.15 $58,851,351
ENR Encounter Resources -12% 61% 37% 19% 0.185 $68,840,027
FEG Far East Gold -12% -23% 48% 0% 0.51 $61,018,605
NAE New Age Exploration -13% -13% -30% -36% 0.007 $10,769,242
MDI Middle Island Res -13% -11% -57% -44% 0.056 $7,100,257
MXR Maximus Resources -13% -5% -41% -37% 0.041 $13,394,042
NWM Norwest Minerals -14% 67% 17% -28% 0.055 $12,215,906
DCX Discovex Res Ltd -14% -14% -48% -37% 0.003 $9,907,704
NVA Nova Minerals Ltd -15% 5% 4% -49% 0.71 $128,562,893
MHC Manhattan Corp Ltd -17% -29% -50% -50% 0.005 $9,157,672
PRS Prospech Limited -17% 18% -15% -46% 0.04 $2,607,240
MTH Mithril Resources -20% -27% -33% -76% 0.004 $14,701,165
QML Qmines Limited -22% 11% -26% -53% 0.1825 $17,139,716
PKO Peako Limited -24% -19% -32% -48% 0.013 $4,929,799
LYN Lycaonresources -27% 64% -1% -14% 0.385 $12,015,344
SI6 SI6 Metals Limited -29% 0% -44% -55% 0.005 $7,476,973
GMN Gold Mountain Ltd -31% 64% 50% -50% 0.009 $14,203,343
ANL Amani Gold Ltd -33% 0% -33% -50% 0.001 $23,693,441

SMALL CAP STANDOUTS

Iceni Gold (ASX:ICL) is picking up gold nuggs like this over several kilometres at the Guyer and Everleigh prospects, part of the flagship 14 Mile Well project in WA:

The shape and composition of the nuggets suggest primary sources – aka THE MOTHERLODES — are nearby, says ICL technical director David Nixon.

“The results of the air core program at Guyer that covers the same area will help to confirm if there is mineralisation in that area,” he says.

That aircore drilling program (usually shallow but covering a wide area) comprised 363 holes for 23,000m and the results are imminent.

 

Advanced South American gold stock Los Cerros (ASX:LCL) has diversified, inking a deal to buy five large projects in PNG which are prospective for copper, nickel, and gold from private company Footprint Resources.

It gives LCL some juicy exploration targets to play with, in a jurisdiction known for its monster mineral deposits.

It also gives the company options as it waits for “greater clarity on new government mine development policies” in Colombia, where left-leaning Gustavo Petro won Colombia’s June 19 presidential election.

LCL’s 2.6Moz Quinchia project in Colombia is currently the focus of low-cost project development studies.

 

Microcap Besra Gold (ASX:BEZ) surged after hitting “exceptional high and bonanza grade gold intercepts” at its 3.3Moz Bau project.

One hole into the Bekajang target hit more than 47m of high-grade gold, including:

  • 10m @ 7.09g/t Au from 8 to 18m;
  • 2m @ 8.81g/t Au from 40m to 42m; and
  • 13m @ 22.91g/t Au from 58m to 71m.

But the important part is this: historical mining and exploration along the Bau corridor focused on mineralisation within the Pedawan Shale Contact (LSC) target, 5-30m from surface.

This means most historical RC drilling terminated at depths shallower than 50m. The deeper, high-grade hits announced today came from the limestone and indicate there may be a monster gold source lurking nearby.

A second round of drilling will commence shortly to follow up.

Today, there was more good news – major shareholder Quantum Metals Recovery is in discussions to provide BEZ up to US$300 million in financial support, commencing as soon as CY2023, by way of a gold offtake purchase facility. The proposed facility, if implemented, would accelerate production at Bau.

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