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Gold Digger: A weekly recap of the news driving ASX small cap gold stocks
Mining
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Gold just had its worst week in three months, believe it or not.
This ‘worst week’ — an un-cataclysmic 1.2 per cent fall from ~$US1589/oz ($2371/0z) to ~$US1569/oz ($2342/oz) – just demonstrates how strongly gold has performed in recent times.
Cashed up producers continue to look to mergers and acquisitions (M&A) for growth opportunities after a record-breaking 2019, which saw M&A activity total $US30.5bn – a decade high.
Some of those 2019 deals were huge, like Newmont’s $US10 billion acquisition of fellow miner Goldcorp.
>>>Scroll down for this week’s top 3 small cap movers
But the large and mid-tiers also have their collective eye on value at the small end of town.
Yesterday, ~$820m market cap miner Ramelius (ASX:RMS) made its move on high-grade success story Spectrum Metals (ASX:SPX).
The ~$208m cash and scrip offer equates to about 15c per Spectrum share — a 52 per cent premium to Spectrum’s last closing price of 9.9c on Friday.
It also represents a mind-blowing 2900 per cent return for Spectrum shareholders over the past 12 months.
In late 2018, the ~$5m market cap minnow paid $1m in cash and shares (mostly shares) for the historic Penny West gold project.
If the original vendors held onto every one of those 172.7m shares, that initial $1m payday just became ~$26m. Dreams do come true.
It might be the first, but Spectrum certainly won’t be the last promising small cap to be swallowed up by a miner in 2020.
READ: Spectrum Metals’ Paul Adams on dodging bullets and that 1 month, 525pc share price increase
Winners & Losers
Here’s how ASX gold stocks performed for the period Feb 3 — Feb 10 [intraday]:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:
CODE NAME WEEKLY RETURN % YEARLY RETURN % PRICE [Intraday] MARKET CAP DEG DE GREY MINING 181 42 0.155 $ 98,662,320.00 SKY SKY METALS 138 444 0.25 $63,675,000.00 DGO DGO GOLD 44 91 1.4 $ 39,419,924.00 BBX BBX MINERALS 20 -9 0.16 $ 49,607,004.00 TSC TWENTY SEVEN CO 14 100 0.009 $ 8,681,708.00 CHN CHALICE GOLD MINES 13 144 0.31 $ 78,109,416.00 ALK ALKANE RESOURCES 13 369 1.02 $ 472,727,136.00 OKR OKAPI RESOURCES 13 -60 0.09 $ 2,703,215.00 CDT CASTLE MINERALS 13 13 0.009 $ 1,897,850.13 GMR GOLDEN RIM RESOURCES 13 -44 0.009 $ 11,629,661.00 GOR GOLD ROAD RESOURCES 11 111 1.5725 $ 1,270,013,184.00 GUL GULLEWA 10 22 0.033 $ 4,808,816.00 SPX SPECTRUM METALS 10 2375 0.135 $ 133,009,456.00 HRZ HORIZON MINERALS 10 -4 0.105 $ 44,937,396.00 ALY ALCHEMY RESOURCES 9 4 0.011 $ 5,505,243.50 WWI WEST WITS MINING 8 30 0.013 $ 11,250,372.00 TAR TARUGA MINERALS 8 -71 0.014 $ 4,473,487.50 KWR KINGWEST RESOURCES 7 -11 0.155 $ 15,590,323.00 NST NORTHERN STAR RESOURCES 7 62 13.77 $ 9,642,991,616.00 MAU MAGNETIC RESOURCES 7 191 0.655 $ 127,276,928.00 OKU OKLO RESOURCES 7 -2 0.25 $ 105,261,280.00 BCN BEACON MINERALS 6 82 0.034 $ 97,193,512.00 ARV ARTEMIS RESOURCES 6 -61 0.029 $ 27,644,412.00 BGL BELLEVUE GOLD 5 -9 0.505 $ 262,160,688.00 MTH MITHRIL RESOURCES 5 110 0.01 $ 4,903,892.00 AGS ALLIANCE RESOURCES 5 19 0.105 $ 16,944,216.00 AQI ALICANTO MINERALS 4 97 0.059 $ 11,401,271.00 KRM KINGSROSE MINING 3 -39 0.034 $ 24,090,242.00 AME ALTO METALS 3 -15 0.034 $ 9,387,961.00 PGI PANTERRA GOLD 3 57 0.037 $ 7,025,099.50 SAR SARACEN MINERAL HOLDINGS 3 32 4.19 $ 4,345,390,080.00 MOH MOHO RESOURCES 2 -65 0.044 $ 2,306,083.75 NAG NAGAMBIE RESOURCES 2 -25 0.048 $ 22,496,618.00 EVN EVOLUTION MINING 2 0 3.975 $ 6,374,167,552.00 WGX WESTGOLD RESOURCES 1 107 2.21 $ 843,303,616.00 RMS RAMELIUS RESOURCES 1 130 1.26 $ 846,134,464.00 GMN GOLD MOUNTAIN 0 -5 0.07 $ 42,523,772.00 BRB BREAKER RESOURCES 0 -28 0.255 $ 57,830,020.00 DHR DARK HORSE RESOURCES 0 -38 0.0025 $ 7,393,189.00 GED GOLDEN DEEPS 0 -39 0.025 $ 7,015,214.00 AUC AUSGOLD 0 -15 0.016 $ 17,699,192.00 TNR TORIAN RESOURCES 0 -63 0.009 $ 2,871,035.00 MDI MIDDLE ISLAND RESOURCES 0 -20 0.004 $ 4,707,408.50 MSR MANAS RESOUCES 0 -38 0.0025 $ 6,607,906.00 TMX TERRAIN MINERALS 0 -20 0.004 $ 2,892,644.00 BAR BARRA RESOURCES 0 -44 0.02 $ 12,526,831.00 NXM NEXUS MINERALS 0 -30 0.042 $ 4,966,103.50 CXU CAULDRON ENERGY 0 -18 0.014 $ 4,801,391.00 GSN GREAT SOUTHERN MINING 0 59 0.062 $ 16,991,280.00 LEX LEFROY EXPLORATION 0 9 0.185 $ 18,590,048.00 CAI CALIDUS RESOURCES 0 -7 0.265 $ 53,672,264.00 GBZ GBM RESOURCES 0 17 0.07 $ 13,502,288.00 SIH SIHAYO GOLD 0 -25 0.015 $ 31,466,550.00 VKA VIKING MINES 0 -17 0.01 $ 3,137,178.50 BLK BLACKHAM RESOURCES 0 -63 0.011 $ 51,878,668.00 DAU DAMPIER GOLD 0 -31 0.022 $ 4,355,692.00 CYL CATALYST METALS 0 93 2.89 $ 232,366,416.00 ANL AMANI GOLD 0 0 0.002 $ 12,270,899.00 MLS METALS AUSTRALIA 0 -67 0.001 $ 3,207,352.75 CTO CITIGOLD CORP 0 -17 0.005 $ 12,105,866.00 AOP APOLLO CONSOLIDATED 0 52 0.26 $ 50,939,604.00 AAJ ARUMA RESOURCES 0 -57 0.003 $ 2,128,241.75 AVW AVIRA RESOURCES 0 -33 0.002 $ 2,250,000.00 SMI SANTANA MINERALS 0 -29 0.0045 $ 12,077,755.00 GSM GOLDEN STATE MINING 0 -41 0.077 $ 2,820,217.50 CWX CARAWINE RESOURCES 0 33 0.21 $ 13,135,475.00 DCN DACIAN GOLD 0 -45 1.4 $ 319,798,176.00 E2M E2 METALS 0 38 0.18 $ 16,536,561.00 NES NELSON RESOURCES 0 -66 0.049 $ 2,234,049.50 DTR DATELINE RESOURCES 0 0 0.002 $ 16,420,156.00 KGM KALNORTH GOLD MINES 0 -20 0.004 $ 3,576,960.25 CGN CRATER GOLD MINING 0 -8 0.011 $ 13,502,455.00 ARS ALT RESOURCES 0 -24 0.019 $ 10,574,728.00 SBM ST BARBARA -1 -42 2.765 $ 1,873,751,680.00 WAF WEST AFRICAN RESOURCES -1 104 0.49 $ 396,067,872.00 GWR GWR GROUP -1 -20 0.08 $ 20,375,698.00 DGR DGR GLOBAL -1 -42 0.069 $ 42,922,732.00 RML RESOLUTION MINERALS -2 9 0.062 $ 7,515,219.00 SLR SILVER LAKE RESOURCES -2 186 1.65 $ 1,385,754,496.00 CMM CAPRICORN METALS -2 273 1.23 $ 396,249,664.00 TIE TIETTO MINERALS -2 260 0.3 $ 90,019,560.00 NCM NEWCREST MINING -2 21 29.54 $ 22,188,814,336.00 FML FOCUS MINERALS -2 -23 0.25 $ 48,428,368.00 ERM EMMERSON RESOURCES -2 25 0.093 $ 40,361,120.00 BDC BARDOC GOLD -3 75 0.08 $ 110,442,600.00 TAM TANAMI GOLD -3 -22 0.041 $ 45,828,784.00 MML MEDUSA MINING -3 107 0.75 $ 153,767,776.00 CDV CARDINAL RESOURCES -3 -10 0.37 $ 182,789,072.00 VMC VENUS METALS -3 41 0.185 $ 26,438,770.00 AZM AZUMAH RESOURCES -3 19 0.032 $ 32,293,200.00 PRU PERSEUS MINING -3 203 1.155 $ 1,273,098,752.00 ARL ARDEA RESOURCES -3 14 0.495 $ 56,890,712.00 TRY TROY RESOURCES -3 -9 0.091 $ 56,885,740.00 NUS NUSANTARA RESOURCES -3 50 0.29 $ 60,488,160.00 MAT MATSA RESOURCES -4 -4 0.135 $ 29,283,844.00 RRL REGIS RESOURCES -4 -13 4.405 $ 2,164,848,640.00 ADN ANDROMEDA METALS -4 543 0.043 $ 66,827,752.00 RND RAND MINING -4 21 2.31 $ 131,725,160.00 RSG RESOLUTE MINING -4 7 1.125 $ 1,108,398,976.00 KCN KINGSGATE CONSOLIDATED -4 260 0.535 $ 124,424,264.00 TLM TALISMAN MINING -4 -2 0.08 $ 15,490,156.00 HMX HAMMER METALS -5 -9 0.022 $ 11,735,447.00 SVL SILVER MINES -5 79 0.105 $ 86,193,704.00 RED RED 5 -5 119 0.305 $ 348,623,872.00 PRX PRODIGY GOLD -6 2 0.062 $ 35,998,912.00 EMR EMERALD RESOURCES -6 18 0.045 $ 163,474,288.00 SAU SOUTHERN GOLD -6 1 0.15 $ 13,249,313.00 BSR BASSARI RESOURCES -7 -26 0.013 $ 31,040,814.00 GML GATEWAY MINING -7 0 0.015 $ 21,433,856.00 RXL ROX RESOURCES -7 213 0.029 $ 37,906,628.00 AMG AUSMEX MINING GROUP -8 20 0.057 $ 29,558,936.00 BC8 BLACK CAT SYNDICATE -8 150 0.395 $ 29,462,866.00 HAW HAWTHORN RESOURCES -8 11 0.077 $ 26,129,250.00 AAR ANGLO AUSTRALIAN RESOURCES -8 80 0.11 $ 47,048,648.00 STN SATURN METALS -9 115 0.43 $ 31,471,394.00 BNR BULLETIN RESOURCES -9 5 0.021 $ 4,123,740.75 OAU ORA GOLD -9 67 0.021 $ 13,568,749.00 CY5 CYGNUS GOLD -10 -36 0.045 $ 3,071,298.75 VAN VANGO MINING -10 -13 0.135 $ 104,162,312.00 RGL RIVERSGOLD -10 -85 0.009 $ 1,959,783.50 GBR GREAT BOULDER RESOURCES -11 -77 0.033 $ 4,670,890.00 AWV ANOVA METALS -11 -20 0.008 $ 5,113,058.00 ARM AURORA MINERALS -11 -48 0.008 $ 1,874,132.50 TTM TITAN MINERALS -11 -48 0.115 $ 93,733,312.00 MEU MARMOTA -12 153 0.039 $ 32,931,296.00 KTA KRAKATOA RESOURCES -12 20 0.03 $ 6,562,500.00 MKG MAKO GOLD -12 -47 0.067 $ 7,047,310.00 DTM DART MINING -13 -30 0.067 $ 4,418,933.00 ONX ORMINEX -13 -61 0.056 $ 38,276,252.00 PDI PREDICTIVE DISCOVERY -13 -36 0.007 $ 4,859,336.50 GNM GREAT NORTHERN MINERALS -13 -77 0.008 $ 2,428,550.75 TBR TRIBUNE RESOURCES -13 31 4.97 $ 281,955,360.00 SLZ SULTAN RESOURCES -14 -3 0.061 $ 2,905,143.25 A1G AFRICAN GOLD -14 0.15 $ 9,296,000.00 LNY LANEWAY RESOURCES -14 0 0.005 $ 18,600,330.00 MLL MALI LITHIUM -18 -48 0.0795 $ 26,022,546.00 HRN HORIZON GOLD -20 0 0.175 $ 13,392,858.00 AYR ALLOY RESOURCES -25 -50 0.0015 $ 4,177,354.75 NWM NORWEST MINERALS -27 -36 0.11 $ 9,222,420.00 PUA PURE ALUMINA -29 -75 0.012 $ 2,217,608.25 SFM SANTA FE MINERALS $ 5,097,315.00 CVS CERVANTES CORP
DE GREY MINING (ASX:DEG) +181%
Market Cap: ~$98m
Explorer De Grey confirmed a “major new gold discovery” at the Hemi prospect, part of its +1.7moz Mallina gold project in the Pilbara.
The explorer, which hit thick, high-grade intersections like 24m at 7.5 grams per tonne (g/t), is currently bringing in a couple of bigger rigs to drill deeper into this thing.
The stock went mental – up 98 per cent on Thursday, 42 per cent on Friday, and another 15 per cent on Monday.
READ: De Grey needs a bigger drill rig after confirming major Pilbara gold discovery
SKY METALS (ASX:SKY) +138%
Market Cap: ~$63m
On Monday it was Sky’s turn to rip higher on some thick, high-grade gold hits.
Sky – which changed its name from Planet Gas in early 2019 – was initially focused on tin until making the strategic shift into gold exploration. Great move.
Maiden drilling at the Hume prospect – part of the Cullarin project in NSW – has just returned a 93m intersection grading 4.24g/t gold, 56m from surface.
Planning for a follow-up drill program is already “well advanced”, the explorer says.
READ: Barry FitzGerald — Tin is not what’s ignited investor interest in Sky Metals
DGO GOLD (ASX:DGO) +44%
Market Cap: ~$40m
DGO, a gold explorer which invests in other gold explorers, had a big win last week as De Grey’s biggest shareholder (10.7 per cent).
But DGO also has 100 per cent owned tenements adjoining De Grey’s ground in the Pilbara.
This includes over 30km of strike length of a major east-northeast-trending structure that parallels the Mallina Shear Zone (MSZ) and is associated with a 20km long gold anomaly that defines DGO’s ‘Scotties Well’ target.
DGO is preparing to commence a drilling program over this target in March 2020.
