A global carbon taxation regime could slash gold miner profit margins by up to 45% unless an effort is made to reduce greenhouse gas emissions, Metals Focus says.

Some countries, such as Canada and Sweden, already impose carbon taxes and there is certainly scope for this to become widespread across the globe.

“The carbon tax in Sweden is currently around US$130/t,” Metals Focus says.

“If this tax was applied to this group of companies [large global gold miners], which had GHG emissions of 0.94t CO2e/oz in 2020, that would equate to an additional cost of US$123/oz.”

It’s Gold Peer Group Analysis report estimates a comprehensive ‘shareholder cash cost’ — which includes AISC, project capex, cash taxes and interest – of US$1,542/oz for the world’s biggest gold miners in Q2, 2021.

This compares to an average gold price in the quarter of US$1,815/oz, leaving a margin of US$273/oz to pay dividends, repay debt or for corporate activity.

“The estimated additional cost from potential carbon taxes would therefore reduce this margin by 45% at the current cost of production and gold price,” Metals Focus says.

“This demonstrates the potentially significant economic impact of carbon emissions on gold mining operations should they be taxed at some point in the future.”

 

‘Green gold’ isn’t just a buzzword

Major gold miners are responding to the likely cost impost by announcing greenhouse gas (GHG) emissions targets.

In November 2020, Newmont, the world’s biggest gold miner, announced it was targeting a 30% reduction in GHG emissions by 2030 and aiming to have net zero emissions by 2050.

Barrick updated their GHG emissions targets in April 2021, which broadly align with Newmont’s.

Most of the other major gold producers have announced similar goals for their emissions. Most recently, a 56MW microgrid powering Gold Fields’ Agnew Gold Mine with an average of 50–60% renewable energy — even achieving up to 85% in favourable weather conditions — was officially opened.

It is currently Australia’s largest hybrid renewable microgrid, and the first in the country to power a mine predominantly with wind- generated electricity.

It’s not just the big guys either – near term producers like Bellevue Gold (ASX:BGL) are also jumping on board the “green and gold”.

 

Gold price ‘revitalised’ by Central Banks

Gold prices got a trifecta of central bank action that is revitalizing bulls, says OANDA’s Edward Moya. The price is currently back near $US1,800/oz after plunging to ~$US1,760/oz earlier in the week.

“First a dovish Fed taper, then a surprise hold on interest rates by the BOE, and as surging inflation forced the Czech National Bank to raise borrowing costs more than expected,” Moya says.

“Major economies are turning dovish as developing countries scramble for inflation-hedges.”

Even as US stocks continue to make fresh records, fixed income traders are sending Treasury yields across the curve sharply lower, Moya says.

“Recently, tumbling Treasury yields would lead to dollar weakness but that is not happening today,” he says.

“The FX market would have you believe that Wall Street is having a bad day, as the Japanese yen is the best performing currency, with the dollar in second place.

“If the Fed and BOE are both in the early stages of a policy mistake, that is great news for bullion.

“A scramble to tighten, would ultimately choke growth and lead to significant safe-haven demand for gold.”

 

USD (dark) and AUD (light) gold prices over the past 12 months.  Sources: FastMarkets, ICE Benchmark Administration, Thomson Reuters, World Gold Council

Winners & Losers

Here’s how ASX-listed gold & silver 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 [intraday Friday] MARKET CAP
S2R S2 Resources 108 88 -5 -33 0.175 $ 64,147,473.90
AM7 Arcadia Minerals 41 33 0.26 $ 8,892,000.00
AZL Arizona Lithium 40 205 221 942 0.125 $ 226,452,682.04
SPQ Superior Resources 38 64 50 -10 0.018 $ 24,045,647.60
ADV Ardiden 36 36 15 -58 0.015 $ 27,993,359.63
AQX Alice Queen 30 30 -32 -57 0.013 $ 16,442,676.12
CDT Castle Minerals 28 77 53 77 0.023 $ 16,327,548.37
HXG Hexagon Energy 25 53 -12 134 0.11 $ 49,061,520.97
XTC Xantippe Resources 25 150 150 150 0.005 $ 25,466,027.51
CY5 Cygnus Gold 22 32 10 -3 0.165 $ 17,889,316.17
MTH Mithril Resources 21 31 6 -39 0.017 $ 38,703,495.62
FFR Firefly Resources 21 20 14 -27 0.12 $ 41,108,742.96
BRB Breaker Resources 20 37 100 105 0.39 $ 130,336,371.60
STN Saturn Metals 18 28 27 -25 0.525 $ 55,181,109.90
MRZ Mont Royal Resources 18 24 16 41 0.465 $ 16,665,754.60
PDI Predictive Discovery 16 -7 153 258 0.215 $ 286,453,148.52
TG1 Techgen Metals 16 7 -14 0.22 $ 7,513,113.08
RDT Red Dirt Metals 16 24 417 182 0.775 $ 111,631,991.58
LCY Legacy Iron Ore 15 7 -6 114 0.015 $ 96,071,077.76
REZ Resource & Energy Group 15 23 38 -39 0.054 $ 21,584,039.45
SNG Siren Gold 15 50 44 -7 0.39 $ 27,859,120.14
AXE Archer Materials 15 7 99 271 1.69 $ 418,219,579.83
RDS Redstone Resources 14 45 33 23 0.016 $ 12,222,984.07
KRM Kingsrose Mining 14 33 20 103 0.065 $ 46,720,470.53
BYH Bryah Resources 13 15 -17 3 0.062 $ 12,331,394.63
MBK Metal Bank 13 5 -6 -22 0.009 $ 9,512,546.43
AOP Apollo Consolidated 12 75 102 93 0.665 $ 189,553,383.50
BMO Bastion Minerals 12 16 38 0.29 $ 20,496,985.40
M2R Miramar 11 0 -20 -47 0.2 $ 9,215,778.70
GBR Greatbould Resources 10 6 99 252 0.165 $ 57,157,729.44
TSC Twenty Seven Co. 10 10 10 -21 0.0055 $ 13,304,069.53
SBR Sabre Resources 10 38 10 -45 0.0055 $ 9,291,225.07
VKA Viking Mines 10 38 -35 27 0.022 $ 22,467,685.48
DLC Delecta 10 27 154 175 0.0165 $ 19,278,539.28
GIB Gibb River Diamonds 10 24 37 -29 0.089 $ 19,881,887.83
FG1 Flynngold 10 13 0.17 $ 9,515,407.50
NAE New Age Exploration 9 9 -43 -8 0.012 $ 16,512,837.47
RDN Raiden Resources 9 0 -11 -17 0.025 $ 31,164,432.60
SFM Santa Fe Minerals 8 8 -8 -20 0.092 $ 6,699,328.59
ENR Encounter Resources 8 -4 38 16 0.2 $ 61,767,521.99
CMM Capricorn Metals 8 23 55 59 2.69 $ 999,824,669.10
MM8 Medallion Metals. 8 -2 -20 0.205 $ 16,598,867.63
YRL Yandal Resources 7 -11 -21 -23 0.44 $ 44,277,838.73
QML Qmines 7 3 0.385 $ 20,916,397.04
DRE Drednought Resources 7 4 88 65 0.0395 $ 113,274,484.88
FFX Firefinch 7 6 71 333 0.65 $ 588,938,144.13
DGO DGO Gold 7 7 -20 -10 2.93 $ 244,164,585.39
VAN Vango Mining 6 3 -12 -27 0.066 $ 72,545,114.47
ZNC Zenith Minerals 6 22 -11 79 0.25 $ 77,546,100.72
PAK Pacific American Hld 6 -15 -13 -17 0.017 $ 7,096,470.75
A8G Australasian Gold 6 75 0.71 $ 24,677,411.22
SSR SSR Mining Inc. 6 14 9 -12 23.07 $ 474,985,571.20
CEL Challenger Exp 5 -3 -12 44 0.295 $ 282,581,923.25
GMN Gold Mountain 5 -5 -49 -49 0.02 $ 21,402,983.40
IDA Indiana Resources 5 7 -29 7 0.061 $ 27,370,158.48
ZAG Zuleika Gold 5 -5 -48 -66 0.021 $ 8,611,960.83
ANX Anax Metals 5 12 19 330 0.105 $ 35,018,389.00
MAT Matsa Resources 5 5 -15 -49 0.063 $ 22,921,895.68
MRR Minrex Resources 5 17 -13 -16 0.021 $ 11,103,354.05
GUL Gullewa 5 -1 -10 -26 0.085 $ 16,181,713.50
AGC AGC 5 -15 -27 0.11 $ 7,450,001.24
AGC AGC 5 -15 -27 0.11 $ 7,450,001.24
PKO Peako 5 -19 -39 -24 0.022 $ 6,785,990.22
RMS Ramelius Resources 5 19 -6 -19 1.66 $ 1,321,166,273.94
GSN Great Southern 5 17 23 -18 0.069 $ 35,399,029.40
GSR Greenstone Resources 4 0 4 -24 0.025 $ 20,906,045.91
G50 Gold50 4 11 0.25 $ 12,327,910.25
G88 Golden Mile Res 4 13 -42 -9 0.052 $ 8,550,916.40
ICG Inca Minerals 4 -4 8 155 0.13 $ 62,522,839.21
CLA Celsius Resource 4 8 -40 -13 0.027 $ 26,180,702.03
TNR Torian Resources 4 0 -39 -3 0.028 $ 29,370,751.52
GTR Gti Resources 3 3 41 80 0.03 $ 34,992,218.07
MOH Moho Resources 3 -6 -16 -39 0.061 $ 7,420,748.72
ADN Andromeda Metals 3 19 -3 16 0.185 $ 430,771,608.05
SLR Silver Lake Resource 3 23 -5 -18 1.73 $ 1,469,757,846.38
KAU Kaiser Reef 3 -5 -28 -51 0.2 $ 24,484,142.80
AUC Ausgold 2 16 -4 -19 0.043 $ 66,584,680.72
NML Navarre Minerals 2 -3 -23 -63 0.089 $ 62,817,493.59
MEU Marmota 2 0 5 -4 0.046 $ 44,552,549.74
MKG Mako Gold 2 8 -3 -3 0.097 $ 36,695,193.79
BRV Big River Gold 2 2 -32 -42 0.255 $ 50,471,763.96
WAF West African Res 2 26 28 30 1.29 $ 1,231,127,641.25
HAW Hawthorn Resources 2 -9 -4 -44 0.053 $ 17,676,327.49
BTR Brightstar Resources 2 54 63 58 0.057 $ 29,494,553.48
NSM Northstaw 2 8 -11 -34 0.325 $ 11,436,195.00
EMR Emerald Res NL 2 4 1 65 1 $ 507,666,248.90
BGL Bellevue Gold 1 3 -7 -29 0.8575 $ 838,888,321.45
BNR Bulletin Res 1 13 8 7 0.071 $ 18,414,030.39
AAR Anglo Australian 1 -1 -16 -46 0.084 $ 49,482,876.84
NXM Nexus Minerals 1 18 367 244 0.43 $ 96,194,151.69
SVY Stavely Minerals 1 19 -26 -40 0.46 $ 120,042,267.92
ARN Aldoro Resources 1 25 57 209 0.495 $ 45,141,930.39
NST Northern Star 1 8 -12 -37 9.58 $ 10,516,439,126.97
CAI Calidus Resources 1 6 48 -1 0.59 $ 231,958,441.26
AMI Aurelia Metals 1 20 -6 -14 0.3825 $ 463,056,325.50
PRU Perseus Mining 0 15 30 29 1.63 $ 1,938,611,920.60
WMC Wiluna Mining Corp 0 0 6 -43 1.02 $ 159,898,094.45
HMG Hamelingold 0.2 $ 22,000,000.00
MLS Metals Australia 0 100 -20 33 0.002 $ 10,477,114.72
MEI Meteoric Resources 0 -17 -68 -65 0.019 $ 24,071,247.70
AVW Avira Resources 0 0 -14 -40 0.006 $ 10,312,740.00
BBX BBX Minerals 0 -15 -48 -51 0.17 $ 80,153,758.13
DTM Dart Mining NL 0 -15 -24 -42 0.11 $ 13,694,002.30
SIH Sihayo Gold 0 -10 -36 -61 0.009 $ 33,169,152.72
AWV Anova Metals 0 -5 0 -22 0.021 $ 30,094,978.20
MEG Megado 0 0 -50 -54 0.092 $ 4,261,831.00
HRZ Horizon 0 19 9 14 0.125 $ 70,996,900.00
CXU Cauldron Energy 0 -16 -32 -58 0.026 $ 13,264,928.01
AL8 Alderan Resource 0 -7 -47 -64 0.04 $ 17,022,643.20
XAM Xanadu Mines 0 -7 -56 -30 0.028 $ 33,994,019.25
TRN Torrens Mining 0 0 10 0.16 $ 11,146,390.08
MCT Metalicity 0 -10 -31 -50 0.009 $ 19,293,943.79
AME Alto Metals 0 20 8 -17 0.1 $ 44,575,713.86
CTO Citigold Corp 0 0 -17 -23 0.01 $ 28,336,590.91
KAI Kairos Minerals 0 3 7 -18 0.031 $ 51,982,656.16
SVL Silver Mines 0 10 -10 5 0.22 $ 284,083,220.74
WGX Westgold Resources. 0 21 -7 -27 1.945 $ 806,315,234.57
SMI Santana Minerals 0 52 67 47 0.25 $ 28,508,159.00
GSM Golden State Mining 0 -28 -19 -61 0.105 $ 8,724,238.43
BAT Battery Minerals 0 -7 -28 -50 0.013 $ 25,238,430.40
IPT Impact Minerals 0 -7 -13 -30 0.014 $ 28,333,128.87
SLZ Sultan Resources 0 -5 -36 -18 0.18 $ 12,516,190.02
OZM Ozaurum Resources 0 3 -6 0.15 $ 8,582,400.00
TRY Troy Resources 0 0 -45 -68 0.037 $ 30,073,993.35
KGM Kalnorth Gold 0 0 0 0 0.013 $ 11,625,120.78
CGN Crater Gold Min 0 0 -11 55 0.017 $ 20,867,429.74
LNY Laneway Res 0 11 0 -29 0.005 $ 19,520,329.67
GNM Great Northern 0 -11 -11 -47 0.008 $ 9,672,407.81
GMR Golden Rim Resources 0 0 -45 -50 0.006 $ 21,419,772.91
AYM Australia United Min 0 11 25 25 0.01 $ 18,425,774.85
FAU First Au 0 -15 -42 -59 0.011 $ 8,835,288.31
TLM Talisman Mining 0 -9 4 32 0.145 $ 27,222,227.07
KSN Kingston Resources 0 11 8 -14 0.21 $ 57,230,911.40
ICL Iceni Gold 0 2 21 0.26 $ 30,543,898.22
HRN Horizon Gold 0 21 13 1 0.44 $ 46,944,487.04
M24 Mamba Exploration 0 -3 -15 0.195 $ 8,510,000.00
MGV Musgrave Minerals 0 24 -1 -26 0.385 $ 206,811,585.37
LRL Labyrinth Resources 0 0 -34 59 0.035 $ 22,909,991.91
MML Medusa Mining 0 4 -9 -3 0.76 $ 151,747,509.73
TCG Turaco Gold 0 26 142 164 0.145 $ 50,845,000.65
POL Polymetals Resources 0 4 0.135 $ 5,274,889.70
KWR Kingwest Resources 0 -24 19 -36 0.125 $ 30,201,315.63
GED Golden Deeps 0 20 0 -8 0.012 $ 9,310,217.28
A1G African Gold . 0 10 2 61 0.23 $ 25,194,063.83
DCX Discovex Res 0 10 -21 -8 0.0055 $ 14,127,652.42
NAG Nagambie Resources 0 5 4 45 0.081 $ 40,494,520.03
EVN Evolution Mining 0 2 -22 -36 3.705 $ 6,506,934,316.20
NCM Newcrest Mining -1 9 -6 -17 25.09 $ 19,794,587,738.20
GOR Gold Road Res -1 10 6 0 1.375 $ 1,177,203,054.74
CHN Chalice Mining -1 14 -5 135 6.84 $ 2,414,097,151.20
AAU Antilles Gold -1 -14 12 50 0.077 $ 23,712,386.96
MKR Manuka Resources. -1 21 -10 -5 0.375 $ 35,521,872.05
TAM Tanami Gold NL -1 -1 -9 -7 0.071 $ 88,132,278.45
BDC Bardoc Gold -1 32 -16 -11 0.066 $ 114,576,486.82
BCN Beacon Minerals -2 -2 -10 -6 0.0315 $ 111,329,059.75
ALK Alkane Resources -2 1 -2 -31 0.885 $ 512,201,741.20
SBM St Barbara -2 7 -24 -46 1.44 $ 982,694,962.87
AGG AngloGold Ashanti -2 14 -7 -29 4.97 $ 429,089,349.65
RED Red 5 -2 14 22 -12 0.25 $ 589,090,163.00
PNR Pantoro -2 7 2 16 0.22 $ 302,934,720.07
STK Strickland Metals -2 40 295 5 0.087 $ 95,216,232.93
TTM Titan Minerals -2 8 -7 -2 0.1075 $ 146,087,917.29
ERM Emmerson Resources -2 21 18 1 0.08 $ 39,360,840.63
DEG De Grey Mining -2 13 -26 1 1.0925 $ 1,518,937,407.00
TIE Tietto Minerals -2 4 32 -9 0.395 $ 189,895,654.53
CWX Carawine Resources -3 -5 -28 -36 0.195 $ 21,233,530.89
RML Resolution Minerals -3 -8 -26 -59 0.0185 $ 11,761,433.90
RXL Rox Resources -3 -3 -31 -54 0.37 $ 59,102,855.25
MTC Metalstech -3 -37 266 166 0.34 $ 57,499,283.55
PUR Pursuit Minerals -3 -8 -42 183 0.034 $ 32,795,487.06
THR Thor Mining PLC -3 -3 3 -8 0.0165 $ 10,601,410.55
PRX Prodigy Gold NL -3 -13 -23 -25 0.033 $ 19,226,711.00
BC8 Black Cat Syndicate -3 3 -30 -24 0.5425 $ 77,444,296.05
RRL Regis Resources -4 -6 -27 -51 1.955 $ 1,430,301,861.66
GRL Godolphin Resources -3 0 -17 -49 0.15 $ 12,616,690.65
NVA Nova Minerals -3 27 -7 -13 0.14 $ 261,295,445.77
OKR Okapi Resources -4 8 182 224 0.55 $ 61,510,199.30
RSG Resolute Mining -4 -6 -21 -49 0.405 $ 441,557,082.40
OKU Oklo Resources -4 29 0 -48 0.135 $ 70,564,173.68
MAU Magnetic Resources -4 0 10 38 1.6 $ 349,077,584.00
ASO Aston Minerals -4 -8 -35 179 0.12 $ 114,503,691.48
CAZ Cazaly Resources -4 0 -15 2 0.044 $ 16,999,910.28
CBY Canterbury Resources -4 5 10 0 0.11 $ 13,221,838.30
TBR Tribune Res -4 -4 -10 -33 4.7 $ 246,599,961.90
RMX Red Mount Min -5 17 5 -30 0.0105 $ 16,109,041.32
AAJ Aruma Resources -5 -8 26 -21 0.083 $ 10,832,689.26
TSO Tesoro Resources -5 -22 -53 -78 0.082 $ 45,264,564.16
SMS Starminerals -5 0.195 $ 5,118,750.00
NES Nelson Resources. -5 -5 -51 -40 0.039 $ 7,577,395.61
NWM Norwest Minerals -5 0 9 -24 0.076 $ 13,906,760.18
ARV Artemis Resources -5 13 -15 -22 0.094 $ 119,224,776.85
DEX Duke Exploration -5 -16 -54 0.185 $ 15,786,951.60
VMC Venus Metals Cor -5 6 0 -25 0.18 $ 27,194,162.94
GML Gateway Mining -6 -11 -35 -6 0.017 $ 32,361,805.20
MVL Marvel Gold -6 1 31 8 0.068 $ 39,946,363.75
KNB Koonenberrygold -6 21 0.17 $ 12,503,222.56
TMX Terrain Minerals -6 6 -23 -39 0.0085 $ 6,253,968.58
CYL Catalyst Metals -6 5 -3 -24 1.97 $ 193,642,574.31
EM2 Eagle Mountain -6 -10 -41 90 0.645 $ 145,961,038.08
PF1 Pathfinder Resources -6 -10 12 51 0.28 $ 14,873,882.80
BGD Bartongoldholdings -6 -3 0.16 $ 14,592,799.32
KTA Krakatoa Resources -6 -9 0 -11 0.062 $ 17,682,595.02
PGD Peregrine Gold -6 -4 24 0.385 $ 12,431,554.15
OAU Ora Gold -6 -6 -29 -42 0.014196 $ 11,954,383.77
AQI Alicanto Min -7 27 8 4 0.14 $ 46,041,444.54
LEX Lefroy Exploration -7 11 -57 95 0.41 $ 47,488,743.47
GBZ GBM Rsources -7 23 29 -10 0.135 $ 68,419,256.45
RVR Red River Resources -7 18 -9 -5 0.2 $ 108,877,542.48
AUT Auteco Minerals -7 -3 -20 -42 0.0725 $ 116,702,525.52
BEZ Besragoldinc -7 0.13 $ 24,058,994.40
KCC Kincora Copper -7 -4 -56 0.13 $ 9,542,470.47
CDR Codrus Minerals -7 -16 0.13 $ 5,400,000.00
WCN White Cliff Min -7 8 -35 -57 0.013 $ 6,723,553.19
FML Focus Minerals -7 8 -16 -32 0.26 $ 46,600,884.08
NMR Native Mineral Res -8 -2 -32 0.22 $ 6,338,970.00
SRN Surefire Rescs NL -8 -11 -56 -57 0.012 $ 12,147,414.50
ALY Alchemy Resource -8 -18 -23 -35 0.012 $ 10,083,651.78
DTR Dateline Resources -8 -9 -19 62 0.081 $ 35,472,472.16
ARL Ardea Resources -8 3 -2 3 0.46 $ 63,495,740.74
E2M E2 Metals -8 -18 -19 -70 0.23 $ 34,608,378.99
TAR Taruga Minerals -8 -4 -45 -13 0.046 $ 23,042,700.27
ADT Adriatic Metals -8 -16 12 15 2.64 $ 571,188,055.00
HCH Hot Chili -8 22 18 -12 0.045 $ 205,687,530.12
SI6 SI6 Metals -8 -8 -8 10 0.011 $ 16,423,655.83
DCN Dacian Gold -9 5 -39 -41 0.215 $ 207,997,450.86
WWI West Wits Mining -9 -11 -57 -49 0.0375 $ 57,850,045.75
TRM Truscott Mining Corp -9 -3 12 45 0.029 $ 4,406,304.78
CHZ Chesser Resources -9 16 0 -40 0.145 $ 62,841,976.88
KZR Kalamazoo Resources -9 -3 -22 -45 0.335 $ 47,107,001.90
EMU EMU NL -10 -4 -47 -56 0.027 $ 12,595,891.07
MZZ Matador Mining -10 -1 -10 -11 0.36 $ 77,243,038.92
BNZ Benzmining -10 -10 -24 0.63 $ 33,406,898.19
VRC Volt Resources -10 -13 23 200 0.027 $ 74,137,760.34
LCL Los Cerros -10 4 -27 -13 0.135 $ 85,879,082.93
IVR Investigator Res -10 17 -21 43 0.07 $ 90,028,369.28
PUA Peak Minerals -11 6 -35 -35 0.017 $ 15,135,144.54
RND Rand Mining -11 -9 -3 -40 1.4 $ 79,626,345.40
OBM Ora Banda Mining -12 -29 -66 -75 0.075 $ 72,092,613.37
LM8 Lunnonmetals -12 -13 0.375 $ 29,108,059.28
WRM White Rock Min -12 2 -34 -36 0.295 $ 42,739,731.60
SAU Southern Gold -12 -2 -24 -41 0.065 $ 13,866,369.14
BMR Ballymore Resources -13 -19 0 0 0.21 $ 14,295,616.20
PNX PNX Metals -13 0 -13 -36 0.007 $ 25,565,354.58
DDD 3D Resources -13 -13 -30 -29 0.0035 $ 15,521,488.37
AGS Alliance Resources -13 3 0 -22 0.17 $ 39,523,255.46
PRS Prospech -13 1 -42 0 0.078 $ 5,279,661.41
MDI Middle Island Res -14 -2 -27 -74 0.095 $ 11,629,731.09
CST Castile Resources -14 14 -19 -31 0.2275 $ 43,936,226.62
KCN Kingsgate Consolid. -15 -11 72 76 1.42 $ 305,422,225.14
PNM Pacific Nickel Mines -16 40 102 75 0.105 $ 22,577,503.10
SKY SKY Metals -16 -14 -47 -57 0.082 $ 24,872,089.20
AZS Azure Minerals -16 15 6 8 0.355 $ 114,602,216.77
ANL Amani Gold -17 -38 25 67 0.0025 $ 55,276,692.32
MHC Manhattan Corp -17 -17 -29 -60 0.01 $ 16,789,065.62
TBA Tombola Gold -18 -20 -31 -12 0.0345 $ 25,400,352.25
TMZ Thomson Res -18 -16 -42 3 0.073 $ 38,937,026.52
AWJ Auric Mining -19 10 -39 0.11 $ 6,378,976.06
GWR GWR Group -21 -19 -62 -24 0.11 $ 31,792,576.52
HMX Hammer Metals -22 -20 -49 9 0.047 $ 41,488,225.77
RGL Riversgold -24 -30 -71 -59 0.019 $ 8,888,928.31
NPM Newpeak Metals -25 50 -40 -50 0.0015 $ 11,055,152.65

 

Weekly Small Cap Standouts

S2 RESOURCES (ASX:S2R) +108%

S2R  – also known as ‘the crew that unearthed the world-class Nova deposit’ — emerged the winner of a ballot for Australia’s hottest exploration tenure next to the Fosterville gold mine in Victoria.

S2 has traversed the world from WA to Scandinavia in its search for gold and other metals since it was spun out of Sirius following the acquisition of its Nova nickel mine by IGO (ASX:IGO).

It has now landed in Victoria, where it pipped a host of other juniors to secure one of four exploration blocks released by the Victorian Government alongside one of Australia’s and highest-grade gold mines in the 160-year-old Bendigo gold field.

S2’s tenure literally surrounds Fosterville, which produced more than 640,000oz at 33.9g/t in 2020.

“The tender comprised four blocks, however S2 regards Block 4 the most prospective as it includes extensions of the Fosterville host stratigraphy, similar structures, and known gold occurrences,” the company said in a statement to the ASX today.

“These occurrences have only been sparsely and shallowly drilled and may represent the uppermost tips of south plunging shoots analogous to those documented at Fosterville itself.”