Gold Digger: After breaking US$3000/oz, gold could still move higher

Gold hit a record of over US$3050/oz this week
With uncertainty around war and trade, prices could climb even higher
Besra Gold and North Stawell Minerals among week’s biggest gold gainers

Silver longs are at six-month highs and gold is continuing its march beyond records.

And as traders get more defensive than Rahul Dravid on a sharply turning sub-continental deck, expect strength to remain if the latest analysis from Metals Focus is anything to go by.

Its latest market analysis comes at a pivotal point for bullion and its poor cousin silver, with the former at all-time highs of over US$3050/oz following an optimistic response to a US Fed rate pause on Wednesday.

Up 15% YTD, gold fever hasn’t quite been matched by silver, but Metals Focus has pointed out that net longs reported by the CME are up to 210Moz, levels not seen since October.

The drivers are familiar to Gold Digger readers – central bank buying, the start of an interest rate cutting cycle and concerns over the general state of the world and its economy.

Volatility is being heightened by the unconventional economic policies of Team Trump over in the US, where April 2 looms as a key date when reciprocal tariffs against its trading partners are expected to be introduced.

“Looking at these drivers in detail, the Trump administration’s economic policies have played an increasingly important role in impacting global sentiment since November. As the months progressed, tariffs on key trading partners and counter-tariffs on the US have raised the spectre of a prolonged trade war,” Metals Focus analysts said.

“Financial markets initially expected tariffs to be inflationary and so re-priced accordingly, basis a slower pace of rate cuts by the Fed. These were soon outweighed by concerns over economic growth.

“Importantly, worries about an outright US recession have grown in recent months and have translated into higher demand for defensive assets such as gold.”

Gold goes inverse

Historically gold has held a number of inverse relationships, notably to both treasury bond yields and the US dollar.

But its latest break with recent trends has been a sharp twist in the performance of the yellow metal and US equities, until recently the darlings of the investment world.

Gold has turned the tables on the S&P 500. Pic: Metals Focus/Bloomberg

Metals Focus says against the backdrop of trade uncertainty and a weaker US dollar, along with the end of a ceasefire in Gaza, has seen the S&P 500 fall 10% from its February high, with investors moving according to a Bank of America survey from 17% overweight on US stocks to 23% net underweight in March.

“By contrast, gold has continued to attract inflows. This is evidenced by a net rise of 100t in gold ETPs in February, the highest monthly inflow since March 2022. Providing further support to gold, central bank buying has also remained healthy,” MF said.

“After another year of exceptionally strong buying in 2024, regular buyers, such as China, India and Poland have reported further gains so far in 2025.”

Does this continue?

Metals Focus says against the current landscape another market correction can’t be ruled out.

“Against this backdrop, investment inflows into gold are likely to continue among institutional investors seeking portfolio diversifications in the coming weeks.”

But its analysts do see gold’s investment case becoming less attractive in the back end of the year, on the premise markets will get more clarity on the impact of tariffs.

“Once investment inflows into gold slow, this should start to create downward pressure for the gold price,” they said.

“Even so, the Trump administration’s fast-changing policies will see financial market volatility remain high. Strong purchases by the official sector are also projected to persist in the foreseeable future. All these should keep gold prices elevated throughout this year.”

Winners & Losers

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

CODE	COMPANY	PRICE	WEEK %	MONTH %	6 MONTH %	YEAR %	YTD %	MARKET CAP
A1G	African Gold Ltd.	0.07	15%	-9%	71%	135%	27%	$ 26,337,094.38
A8G	Australasian Metals	0.075	0%	9%	-32%	6%	-5%	$ 4,341,729.38
AAJ	Aruma Resources Ltd	0.014	27%	33%	-18%	-22%	17%	$ 2,886,756.24
AAM	Aumegametals	0.045	7%	-4%	2%	8%	7%	$ 27,789,199.93
AAR	Astral Resources NL	0.155	7%	3%	41%	154%	15%	$ 218,994,494.40
AAU	Antilles Gold Ltd	0.0045	-10%	-10%	50%	-78%	50%	$ 9,541,692.26
ADG	Adelong Gold Limited	0.005	0%	-17%	25%	25%	11%	$ 7,686,174.09
ADN	Andromeda Metals Ltd	0.008	14%	14%	14%	-64%	14%	$ 24,001,093.82
ADT	Adriatic Metals	4.44	-1%	4%	35%	19%	14%	$ 1,372,980,085.12
ADV	Ardiden Ltd	0.135	-7%	-13%	0%	-10%	0%	$ 8,752,450.84
AGC	AGC Ltd	0.195	15%	18%	-17%	171%	26%	$ 46,187,499.96
AKA	Aureka Limited	0.155	0%	-11%	-98%	-98%	15%	$ 15,877,408.88
ALK	Alkane Resources Ltd	0.635	5%	0%	43%	11%	25%	$ 381,491,391.96
ALY	Alchemy Resource Ltd	0.007	0%	-13%	0%	-13%	0%	$ 8,246,533.79
AM7	Arcadia Minerals	0.02	0%	-13%	-41%	-71%	5%	$ 2,347,668.66
AMI	Aurelia Metals Ltd	0.2475	8%	15%	41%	71%	46%	$ 431,606,023.20
ANL	Amani Gold Ltd	0	-100%	-100%	-100%	-100%	-100%	$ 21,449,587.12
ANX	Anax Metals Ltd	0.009	13%	-10%	-55%	-63%	-25%	$ 7,945,268.10
AQI	Alicanto Min Ltd	0.032	0%	-16%	39%	16%	-14%	$ 27,140,575.23
AQX	Alice Queen Ltd	0.006	-8%	-33%	-25%	0%	-25%	$ 6,881,340.41
ARD	Argent Minerals	0.024	14%	9%	41%	140%	41%	$ 36,141,012.00
ARI	Arika Resources	0.023	5%	-44%	-12%	-8%	-15%	$ 13,303,681.40
ARL	Ardea Resources Ltd	0.41	-8%	-9%	3%	-43%	24%	$ 82,868,409.73
ARN	Aldoro Resources	0.2975	-1%	-16%	267%	281%	-22%	$ 54,110,716.43
ARV	Artemis Resources	0.008	0%	-20%	-33%	-58%	0%	$ 20,228,234.46
AS1	Asara Resources Ltd	0.035	6%	13%	119%	289%	84%	$ 37,440,046.83
ASO	Aston Minerals Ltd	0.02	11%	11%	54%	33%	122%	$ 24,606,221.11
ASR	Asra Minerals Ltd	0.004	33%	33%	-27%	-20%	33%	$ 7,119,380.49
AUC	Ausgold Limited	0.535	1%	14%	24%	73%	27%	$ 194,355,067.09
AUN	Aurumin	0.064	-2%	0%	56%	88%	-3%	$ 32,126,909.36
AVM	Advance Metals Ltd	0.047	7%	0%	124%	31%	38%	$ 9,749,950.42
AVW	Avira Resources Ltd	0.008	0%	-11%	-60%	-73%	-60%	$ 1,322,457.70
AWJ	Auric Mining	0.275	8%	-8%	-13%	83%	-19%	$ 40,962,177.03
AYM	Australia United Min	0.002	-33%	-33%	0%	0%	-50%	$ 3,685,154.97
AZY	Antipa Minerals Ltd	0.44	4%	16%	100%	267%	69%	$ 244,869,675.60
BC8	Black Cat Syndicate	0.84	-2%	0%	127%	320%	49%	$ 502,816,225.80
BCM	Brazilian Critical	0.008	-11%	0%	-38%	-65%	-11%	$ 9,566,627.29
BCN	Beacon Minerals	0.027	8%	4%	23%	13%	23%	$ 109,885,468.99
BEZ	Besragoldinc	0.054	93%	20%	-30%	-61%	-40%	$ 22,436,403.35
BGD	Bartongoldholdings	0.315	0%	2%	29%	13%	29%	$ 70,042,600.64
BGL	Bellevue Gold Ltd	1.315	4%	10%	3%	-29%	17%	$ 1,726,659,676.15
BM8	Battery Age Minerals	0.06	-6%	-21%	-48%	-43%	-43%	$ 7,147,850.82
BMO	Bastion Minerals	0.0035	-13%	-13%	-42%	-65%	-13%	$ 2,956,536.32
BMR	Ballymore Resources	0.135	17%	13%	-7%	8%	13%	$ 23,858,628.98
BNR	Bulletin Res Ltd	0.042	5%	5%	-2%	-35%	8%	$ 12,331,759.57
BNZ	Benzmining	0.39	-3%	-10%	136%	144%	13%	$ 50,386,363.56
BRX	Belararoxlimited	0.125	33%	-19%	-48%	-47%	-29%	$ 17,275,693.56
BTR	Brightstar Resources	0.021	0%	0%	17%	31%	5%	$ 228,123,311.40
BYH	Bryah Resources Ltd	0.004	-20%	0%	-20%	-60%	33%	$ 2,507,202.91
CAZ	Cazaly Resources	0.015	15%	-6%	7%	-17%	7%	$ 6,458,241.87
CBY	Canterbury Resources	0.024	14%	-4%	-29%	-27%	9%	$ 4,738,581.50
CDR	Codrus Minerals Ltd	0.016	-6%	-11%	-27%	-61%	-6%	$ 2,646,200.06
CDT	Castle Minerals	0.002	0%	0%	-33%	-69%	0%	$ 3,855,645.76
CEL	Challenger Gold Ltd	0.063	15%	7%	9%	-21%	34%	$ 102,952,120.54
CHN	Chalice Mining Ltd	1.3825	4%	-6%	0%	25%	25%	$ 566,033,976.54
CLA	Celsius Resource Ltd	0.007	-13%	-36%	-42%	-50%	-36%	$ 23,052,575.90
CLZ	Classic Min Ltd	0.001	0%	0%	0%	-93%	0%	$ 1,544,025.56
CMM	Capricorn Metals	8.2	5%	3%	29%	71%	31%	$ 3,536,310,458.90
CPM	Coopermetalslimited	0.038	-5%	-21%	-36%	-71%	-17%	$ 3,055,870.35
CST	Castile Resources	0.077	26%	8%	1%	20%	-4%	$ 23,236,892.08
CTO	Citigold Corp Ltd	0.004	0%	0%	0%	-11%	0%	$ 12,000,000.00
CWX	Carawine Resources	0.099	-6%	-1%	5%	-6%	-1%	$ 24,793,172.15
CXU	Cauldron Energy Ltd	0.01	25%	-17%	-49%	-73%	-17%	$ 16,075,450.70
CY5	Cygnus Metals Ltd	0.115	10%	-15%	53%	113%	15%	$ 101,907,800.52
CYL	Catalyst Metals	4.6	4%	11%	78%	636%	78%	$ 1,039,607,102.40
DEG	De Grey Mining	2.13	5%	4%	59%	79%	21%	$ 5,131,642,037.66
DLI	Delta Lithium	0.17	0%	-3%	-19%	-46%	0%	$ 125,394,813.60
DRE	Dreadnought Resources Ltd	0.0155	11%	19%	-3%	-9%	29%	$ 66,547,200.00
DTM	Dart Mining NL	0.005	0%	-17%	-67%	-68%	-44%	$ 3,438,819.57
DTR	Dateline Resources	0.0045	0%	50%	-10%	-68%	29%	$ 10,262,274.48
EM2	Eagle Mountain	0.005	-29%	-38%	-87%	-91%	-44%	$ 5,675,186.45
EMC	Everest Metals Corp	0.165	3%	0%	38%	109%	22%	$ 38,043,252.12
EMR	Emerald Res NL	3.95	-1%	-3%	1%	42%	22%	$ 2,733,308,888.96
EMU	EMU NL	0.029	-15%	-15%	21%	5%	7%	$ 5,614,440.86
ENR	Encounter Resources	0.2325	3%	-1%	-45%	-5%	-28%	$ 117,216,194.97
ERM	Emmerson Resources	0.14	17%	27%	180%	175%	82%	$ 82,630,454.27
EVN	Evolution Mining Ltd	6.835	6%	7%	55%	107%	42%	$ 13,686,678,051.20
FAL	Falconmetalsltd	0.135	13%	4%	-29%	23%	17%	$ 26,550,000.00
FAU	First Au Ltd	0.0025	0%	0%	67%	25%	25%	$ 5,179,983.19
FEG	Far East Gold	0.15	-6%	-14%	-12%	20%	-17%	$ 58,724,392.48
FFM	Firefly Metals Ltd	1.0525	8%	7%	-3%	63%	14%	$ 609,840,275.76
FG1	Flynngold	0.024	9%	-11%	-14%	-39%	-4%	$ 7,066,867.94
FML	Focus Minerals Ltd	0.21	2%	8%	56%	17%	24%	$ 60,177,315.45
FXG	Felix Gold Limited	0.165	14%	18%	92%	489%	96%	$ 55,914,085.62
G50	G50Corp Ltd	0.155	24%	7%	7%	55%	0%	$ 24,892,637.15
G88	Golden Mile Res Ltd	0.009	0%	-10%	0%	-18%	0%	$ 4,898,230.70
GAL	Galileo Mining Ltd	0.14	4%	-3%	-13%	-43%	12%	$ 27,667,489.78
GBR	Greatbould Resources	0.071	1%	8%	45%	18%	65%	$ 52,377,923.05
GBZ	GBM Rsources Ltd	0.008	0%	0%	0%	-11%	0%	$ 9,368,559.82
GED	Golden Deeps	0.021	-5%	-9%	-45%	-54%	-16%	$ 3,234,469.33
GG8	Gorilla Gold Mines	0.4	7%	48%	111%	1037%	54%	$ 224,493,542.40
GIB	Gibb River Diamonds	0.042	0%	17%	-2%	68%	5%	$ 9,009,396.69
GMD	Genesis Minerals	3.715	15%	17%	76%	98%	50%	$ 4,066,893,828.00
GML	Gateway Mining	0.021	0%	-5%	-16%	-16%	0%	$ 8,585,226.20
GMN	Gold Mountain Ltd	0.0025	25%	25%	-17%	-17%	-17%	$ 4,579,223.18
GNM	Great Northern	0.014	-7%	-33%	17%	-7%	0%	$ 2,164,807.08
GOR	Gold Road Res Ltd	2.39	-8%	-8%	44%	59%	17%	$ 2,669,493,858.30
GPR	Geopacific Resources	0.023	15%	5%	-5%	32%	15%	$ 71,605,469.84
GRL	Godolphin Resources	0.013	8%	-24%	-19%	-59%	-10%	$ 5,027,381.10
GSM	Golden State Mining	0.01	25%	11%	-9%	0%	25%	$ 2,514,335.67
GSN	Great Southern	0.024	9%	0%	41%	9%	60%	$ 23,923,302.96
GTR	Gti Energy Ltd	0.003	50%	0%	-25%	-60%	-14%	$ 8,996,848.99
GUE	Global Uranium	0.066	3%	-14%	18%	-34%	10%	$ 19,451,486.60
GUL	Gullewa Limited	0.055	-15%	6%	-15%	0%	-2%	$ 11,991,219.46
GWR	GWR Group Ltd	0.092	5%	-3%	14%	-12%	15%	$ 29,551,932.26
HAV	Havilah Resources	0.195	3%	-7%	8%	26%	-13%	$ 64,458,696.24
HAW	Hawthorn Resources	0.043	0%	-2%	-23%	-39%	5%	$ 14,405,671.36
HCH	Hot Chili Ltd	0.685	1%	-11%	-14%	-38%	-2%	$ 103,085,381.32
HMG	Hamelingoldlimited	0.078	18%	26%	22%	5%	22%	$ 12,331,800.00
HMX	Hammer Metals Ltd	0.03	3%	0%	-21%	-19%	-9%	$ 27,520,519.70
HRN	Horizon Gold Ltd	0.42	2%	-8%	24%	45%	-13%	$ 60,108,568.05
HRZ	Horizon	0.067	20%	-3%	52%	91%	68%	$ 141,247,250.23
HWK	Hawk Resources.	0.023	5%	-4%	-23%	-48%	5%	$ 6,231,377.33
ICG	Inca Minerals Ltd	0.005	-17%	-17%	0%	-17%	0%	$ 5,133,612.67
ICL	Iceni Gold	0.081	8%	-10%	131%	252%	14%	$ 24,322,952.84
IDA	Indiana Resources	0.077	3%	5%	50%	79%	26%	$ 49,490,399.27
IGO	IGO Limited	4.275	11%	-7%	-15%	-44%	-10%	$ 3,278,969,630.29
ILT	Iltani Resources Lim	0.24	9%	4%	0%	85%	17%	$ 10,648,235.04
IPT	Impact Minerals	0.006	-14%	-36%	-47%	-58%	-36%	$ 18,583,246.55
IVR	Investigator Res Ltd	0.023	10%	-8%	-39%	-43%	15%	$ 38,133,109.78
KAI	Kairos Minerals Ltd	0.021	17%	-5%	62%	62%	75%	$ 57,880,068.16
KAL	Kalgoorliegoldmining	0.063	-2%	-11%	163%	152%	250%	$ 23,492,473.77
KAU	Kaiser Reef	0.17	3%	-3%	13%	36%	6%	$ 44,303,795.20
KCC	Kincora Copper	0.025	0%	-11%	-47%	-19%	-7%	$ 6,025,392.98
KCN	Kingsgate Consolid.	1.47	1%	9%	17%	22%	14%	$ 384,050,021.08
KNB	Koonenberrygold	0.037	32%	12%	311%	64%	208%	$ 33,874,349.18
KRM	Kingsrose Mining Ltd	0.0355	1%	1%	4%	15%	1%	$ 28,634,007.72
KSN	Kingston Resources	0.083	5%	-1%	2%	8%	17%	$ 69,044,211.85
KTA	Krakatoa Resources	0.009	0%	-10%	-18%	0%	-5%	$ 5,311,206.23
KZR	Kalamazoo Resources	0.088	16%	11%	11%	1%	19%	$ 16,960,874.88
LAT	Latitude 66 Limited	0.065	8%	-2%	-41%	-68%	71%	$ 9,321,045.83
LCL	LCL Resources Ltd	0.007	-13%	-30%	-36%	-42%	-30%	$ 8,363,688.95
LCY	Legacy Iron Ore	0.0105	5%	-5%	-16%	-22%	5%	$ 97,620,425.84
LEX	Lefroy Exploration	0.092	8%	15%	28%	-16%	31%	$ 22,854,652.70
LM1	Leeuwin Metals Ltd	0.105	-13%	-16%	24%	22%	-25%	$ 6,896,038.16
LM8	Lunnonmetalslimited	0.22	10%	-2%	47%	-17%	-12%	$ 46,331,916.54
M24	Mamba Exploration	0.014	0%	0%	17%	-44%	17%	$ 4,132,318.54
M2R	Miramar	0.004	33%	0%	-50%	-78%	33%	$ 1,825,387.11
MAT	Matsa Resources	0.058	4%	7%	53%	107%	66%	$ 43,970,496.48
MAU	Magnetic Resources	1.505	-2%	11%	9%	45%	36%	$ 401,475,530.75
MBK	Metal Bank Ltd	0.018	6%	29%	30%	-21%	20%	$ 8,954,261.96
MDI	Middle Island Res	0.017	13%	-11%	-6%	21%	42%	$ 4,684,105.80
MEG	Megado Minerals Ltd	0.015	25%	15%	-17%	43%	-12%	$ 5,875,565.67
MEI	Meteoric Resources	0.0715	8%	4%	-28%	-70%	-16%	$ 170,411,845.87
MEK	Meeka Metals Limited	0.1375	6%	2%	141%	272%	79%	$ 364,046,812.15
MEU	Marmota Limited	0.046	2%	-13%	28%	2%	18%	$ 55,380,372.13
MHC	Manhattan Corp Ltd	0.018	0%	-5%	-10%	-64%	-5%	$ 4,228,180.16
MI6	Minerals260Limited	0.13	0%	0%	0%	-21%	0%	$ 30,420,000.00
MKR	Manuka Resources.	0.032	19%	14%	-14%	-58%	14%	$ 25,944,565.41
MLS	Metals Australia	0.02	0%	-5%	-23%	-13%	-13%	$ 14,574,390.48
MM8	Medallion Metals.	0.19	27%	23%	239%	239%	58%	$ 85,587,816.06
MOH	Moho Resources	0.004	-20%	0%	-33%	-33%	-20%	$ 2,923,498.30
MOM	Moab Minerals Ltd	0.001	0%	-50%	-75%	-80%	-50%	$ 3,467,332.06
MRR	Minrex Resources Ltd	0.008	14%	0%	-16%	-43%	14%	$ 8,678,940.02
MRZ	Mont Royal Resources	0.041	0%	0%	-21%	-38%	-5%	$ 3,486,221.51
MTC	Metalstech Ltd	0.11	0%	-8%	-35%	-35%	-21%	$ 21,729,343.13
MTH	Mithril Silver Gold	0.39	7%	5%	5%	95%	-3%	$ 58,265,408.80
MVL	Marvel Gold Limited	0.012	20%	20%	9%	9%	33%	$ 9,501,697.73
MXR	Maximus Resources	0.077	12%	15%	141%	146%	33%	$ 33,424,752.21
NAE	New Age Exploration	0.004	0%	-20%	0%	0%	14%	$ 11,562,295.10
NAG	Nagambie Resources	0.017	6%	6%	-19%	21%	-6%	$ 12,852,837.50
NES	Nelson Resources.	0.003	0%	0%	0%	-14%	0%	$ 6,515,782.98
NH3	Nh3Cleanenergyltd	0.024	20%	26%	4%	-4%	33%	$ 12,091,305.27
NMG	New Murchison Gold	0.016	7%	45%	113%	191%	78%	$ 132,632,480.80
NMR	Native Mineral Res	0.077	17%	20%	267%	285%	97%	$ 59,290,475.78
NPM	Newpeak Metals	0.014	-7%	-13%	-18%	57%	27%	$ 4,831,075.97
NSM	Northstaw	0.048	37%	66%	320%	51%	200%	$ 12,815,795.50
NST	Northern Star	18.25	5%	2%	14%	36%	18%	$ 20,953,918,023.59
NVA	Nova Minerals Ltd	0.3275	6%	-1%	105%	24%	-11%	$ 104,642,660.53
NWM	Norwest Minerals	0.01	0%	-26%	-50%	-63%	-29%	$ 4,851,195.10
NXM	Nexus Minerals Ltd	0.073	30%	11%	62%	55%	62%	$ 35,625,836.68
OBM	Ora Banda Mining Ltd	1.03	-2%	7%	63%	329%	58%	$ 2,097,113,326.61
ORN	Orion Minerals Ltd	0.016	0%	14%	-6%	23%	7%	$ 109,607,165.09
OZM	Ozaurum Resources	0.061	-6%	-45%	53%	15%	103%	$ 12,914,881.76
PDI	Predictive Disc Ltd	0.3875	14%	19%	36%	68%	68%	$ 966,504,468.80
PGD	Peregrine Gold	0.15	30%	7%	0%	-32%	7%	$ 11,919,595.50
PGO	Pacgold	0.073	20%	6%	-39%	-48%	-3%	$ 9,464,712.34
PKO	Peako Limited	0.003	0%	0%	0%	-3%	0%	$ 4,463,225.88
PNM	Pacific Nickel Mines	0.024	0%	0%	0%	-35%	0%	$ 10,103,834.52
PNR	Pantoro Limited	0.16	7%	14%	33%	186%	78%	$ 1,086,410,097.47
PNT	Panthermetalsltd	0.015	-6%	7%	-21%	-44%	36%	$ 4,814,472.77
POL	Polymetals Resources	0.825	6%	6%	206%	180%	4%	$ 201,561,856.58
PRS	Prospech Limited	0.023	-8%	-8%	-39%	-34%	-21%	$ 7,562,995.40
PRU	Perseus Mining Ltd	3.165	1%	9%	21%	58%	23%	$ 4,377,268,647.51
PRX	Prodigy Gold NL	0.002	0%	0%	0%	-44%	0%	$ 6,350,111.10
PTN	Patronus Resources	0.06	0%	-3%	18%	-8%	22%	$ 98,243,868.24
PUA	Peak Minerals Ltd	0.009	0%	-16%	364%	273%	16%	$ 28,073,212.90
PUR	Pursuit Minerals	0.075	3%	0%	-50%	-67%	-22%	$ 6,192,547.13
PXX	Polarx Limited	0.008	14%	0%	-11%	-38%	23%	$ 19,004,007.82
QML	Qmines Limited	0.0455	3%	-11%	-52%	-33%	-16%	$ 18,871,726.98
RDN	Raiden Resources Ltd	0.005	-9%	-17%	-87%	-81%	-55%	$ 17,254,457.21
RDS	Redstone Resources	0.0035	17%	17%	0%	-13%	40%	$ 3,238,824.61
REZ	Resourc & En Grp Ltd	0.022	0%	-19%	-12%	144%	-4%	$ 14,776,060.68
RGL	Riversgold	0.004	-11%	-20%	-20%	-47%	0%	$ 7,576,706.67
RML	Resolution Minerals	0.009	-18%	0%	-44%	-63%	-25%	$ 4,651,679.66
RMS	Ramelius Resources	2.18	1%	-17%	0%	35%	5%	$ 2,518,581,524.68
RMX	Red Mount Min Ltd	0.0085	6%	6%	-15%	-51%	-6%	$ 4,184,620.16
RND	Rand Mining Ltd	1.65	0%	-3%	-3%	20%	9%	$ 93,845,335.65
RRL	Regis Resources	3.675	9%	20%	82%	103%	44%	$ 2,749,938,951.76
RSG	Resolute Mining	0.4475	9%	24%	-38%	21%	13%	$ 947,427,255.79
RXL	Rox Resources	0.335	5%	20%	148%	111%	68%	$ 197,562,088.10
S2R	S2 Resources	0.061	-5%	-10%	-26%	-51%	-9%	$ 27,171,479.58
SBM	St Barbara Limited	0.225	15%	-13%	-24%	36%	0%	$ 243,640,426.73
SBR	Sabre Resources	0.008	14%	-11%	-43%	-53%	-20%	$ 3,143,695.46
SFM	Santa Fe Minerals	0.041	0%	11%	8%	-9%	32%	$ 2,985,570.35
SFR	Sandfire Resources	11.48	7%	6%	26%	35%	24%	$ 5,279,696,771.43
SKY	SKY Metals Ltd	0.049	0%	-6%	21%	48%	-9%	$ 36,245,861.47
SLA	Solara Minerals	0.115	-8%	-18%	-64%	-34%	28%	$ 7,248,102.88
SLZ	Sultan Resources Ltd	0.007	0%	-22%	17%	-42%	17%	$ 1,620,289.37
SMG	Silvermetalgroupltd	0.06	0%	0%	0%	0%	0%	$ 4,881,135.48
SMI	Santana Minerals Ltd	0.565	3%	-6%	-20%	38%	16%	$ 426,404,018.25
SMS	Starmineralslimited	0.027	-10%	-13%	-41%	-17%	-25%	$ 4,098,779.63
SNG	Siren Gold	0.055	1%	0%	-24%	0%	-15%	$ 11,824,412.89
SPD	Southernpalladium	0.42	-1%	-7%	12%	27%	-30%	$ 38,199,000.00
SPQ	Superior Resources	0.006	-14%	20%	-25%	-39%	0%	$ 13,019,182.79
SPR	Spartan Resources	1.745	16%	33%	26%	200%	24%	$ 2,228,810,112.48
SRN	Surefire Rescs NL	0.003	0%	-14%	-57%	-73%	-14%	$ 7,248,923.44
SSR	SSR Mining Inc.	17.33	9%	7%	103%	189%	59%	$ 61,615,915.20
STK	Strickland Metals	0.087	2%	28%	-5%	0%	2%	$ 198,667,326.78
STN	Saturn Metals	0.27	10%	15%	-4%	46%	32%	$ 84,943,343.10
SVG	Savannah Goldfields	0.015	0%	-32%	-31%	-41%	-18%	$ 8,982,078.55
SVL	Silver Mines Limited	0.096	8%	8%	3%	-36%	23%	$ 186,876,416.16
SVY	Stavely Minerals Ltd	0.017	3%	-19%	-37%	-48%	0%	$ 9,248,715.58
SX2	Southgold Consol	4.5	20%	25%	0%	0%	0%	$ 514,416,567.00
TAM	Tanami Gold NL	0.028	2%	0%	-13%	-15%	-7%	$ 32,902,717.29
TAR	Taruga Minerals	0.008	-11%	-20%	-11%	0%	-20%	$ 5,648,214.28
TBR	Tribune Res Ltd	4.67	-1%	-6%	5%	27%	9%	$ 248,698,684.98
TCG	Turaco Gold Limited	0.35	11%	-3%	19%	112%	37%	$ 311,788,697.40
TG1	Techgen Metals Ltd	0.03	3%	-17%	-14%	-6%	-14%	$ 4,759,971.30
TGM	Theta Gold Mines Ltd	0.155	0%	-11%	-9%	-6%	-14%	$ 127,414,293.90
THR	Thor Energy PLC	0.012	9%	-8%	-29%	-50%	-8%	$ 9,923,057.69
TLM	Talisman Mining	0.17	3%	-8%	-23%	0%	-17%	$ 33,897,662.82
TM1	Terra Metals Limited	0.02	-5%	-33%	-46%	-60%	-29%	$ 8,152,701.24
TMB	Tambourahmetals	0.032	14%	16%	-11%	-57%	52%	$ 3,762,881.47
TMS	Tennant Minerals Ltd	0.013	-7%	8%	-19%	-55%	44%	$ 14,338,356.23
TMX	Terrain Minerals	0.0045	13%	0%	50%	0%	50%	$ 8,014,226.40
TNC	True North Copper	0.355	6%	-3%	-90%	-95%	-88%	$ 46,560,435.92
TOR	Torque Met	0.105	6%	5%	22%	-30%	98%	$ 28,314,712.23
TRE	Toubani Res Ltd	0.18	20%	16%	-36%	57%	6%	$ 41,212,792.62
TRM	Truscott Mining Corp	0.073	0%	1%	4%	56%	-6%	$ 13,975,744.88
TSO	Tesoro Gold Ltd	0.032	19%	-3%	3%	7%	60%	$ 48,155,835.27
TTM	Titan Minerals	0.415	6%	-16%	-8%	43%	9%	$ 107,937,483.22
USL	Unico Silver Limited	0.2325	19%	8%	8%	94%	19%	$ 102,916,782.43
VAU	Vault Minerals Ltd	0.4575	5%	12%	41%	37%	39%	$ 3,163,150,122.63
VKA	Viking Mines Ltd	0.008	-11%	0%	-11%	-27%	0%	$ 11,953,325.88
VMC	Venus Metals Cor Ltd	0.11	0%	24%	83%	28%	64%	$ 23,535,441.96
VRC	Volt Resources Ltd	0.0045	13%	50%	13%	-10%	50%	$ 18,117,573.47
VRL	Verity Resources	0.013	0%	-13%	-57%	-81%	-35%	$ 2,396,427.29
WA8	Warriedarresourltd	0.059	31%	18%	2%	20%	34%	$ 61,163,648.58
WAF	West African Res Ltd	2.27	6%	30%	34%	123%	58%	$ 2,621,486,741.20
WCN	White Cliff Min Ltd	0.018	13%	-5%	-5%	29%	13%	$ 34,118,473.46
WGX	Westgold Resources.	2.975	13%	19%	9%	24%	5%	$ 2,782,173,585.50
WTM	Waratah Minerals Ltd	0.175	9%	-3%	-51%	136%	13%	$ 35,417,812.33
WWI	West Wits Mining Ltd	0.019	19%	-5%	12%	36%	36%	$ 49,877,217.74
X64	Ten Sixty Four Ltd	0	-100%	-100%	-100%	-100%	-100%	$ 129,844,903.32
XAM	Xanadu Mines Ltd	0.052	0%	-2%	-5%	-7%	6%	$ 99,434,272.91
YRL	Yandal Resources	0.15	7%	-25%	25%	67%	-14%	$ 46,385,247.30
ZAG	Zuleika Gold Ltd	0.012	-8%	0%	-14%	-33%	-8%	$ 8,902,559.12
ZNC	Zenith Minerals Ltd	0.051	13%	21%	19%	-46%	28%	$ 20,779,512.52

Standout gold stocks of the week

Besra Gold (ASX:BEZ)

The $21m capped Malaysian gold developer has run higher after responding to a price query from the ASX and aware letter.

BEZ, which holds around 3Moz of gold resources at its Bau gold project in Sarawak, was responding to a cease trade order related to filing dates for its financials in Canada, which are shorter for non-venture listings (a category that it’s placed in by virtue of its ASX listing).

Its 98.5%-owned Bau project has a very high confidence measured resource of 3.4Mt at 1.5g/t gold, or 166,000oz of contained gold, a high confidence indicated resource of 16.4Mt at 1.57g/t gold, or 824,800oz contained gold, and an inferred resource of 47.9Mt at 1.29g/t, or ~1.99Moz contained gold.

Bau is defined by a gold-bearing mineralisation system covering an 8km by 15km corridor.

The company’s planned Jugan 50tpd pilot plant will trial various batch processing combinations in order to develop optimal protocols for processing the Jugan refractory ore to produce a concentrate for further processing, including doré.

These trial results will form an important component of the overall definitive feasibility study for future commercialisation.

BEZ also has the required licensing and capability to increase the processing throughput to up to 200tpd.

North Stawell Minerals (ASX:NSM)

NSM followed in the footsteps of other recent bolters like New Murchison Gold (ASX:NMG) and Trek Metals (ASX:TKM), reporting visible gold from drilling at its Darlington project in Victoria’s Stawell corridor, home to the operating Stawell gold mine.

“It’s highly encouraging to drill through a gold-mineralised structure on our way to the planned target. Visible gold is not as common in mineralisation around Stawell as it is elsewhere in Victoria. The intercept – a siliceous, stock-worked breccia – occurs in an unexpected position to the west of the historic Darlington Mine trend,” NSM exec director Campbell Olsen said.

“However, the alteration and mineralisation appear to have geological similarities to the mine spoils at the historic mine, so an association between the two areas is possible.

“The significance of the intercept will only become clear when laboratory results are returned, but visible gold in this structure adds to the geological potential of the Darlington target, 6km north of the operating mine at Stawell.”

At Stockhead, we tell it like it is. While Besra Gold is a Stockhead advertiser, it did not sponsor this article.