• New report from Metals Focus predicts AI adoption could play a big role in tech sector’s need for gold and other precious metals
  • Gold price momentum slows but still looks technically strong, says analyst
  • The week’s top ASX goldie gainers: Bulletin, Calidus, Besra

 

Last week’s flight-to-safety momentum for gold amid world chaos may have slowed just a tad, but prices are still moving in the right direction for the precious metal as we round out the week.

At the time of writing, spot gold is changing hands for roughly US$1,990 (good year, that – especially for the Canberra Raiders) and about $3,143 of our Aussie dollars. This is higher than this time last week and still very close to the all-time high for bullion Down Under, which is about $3,163, posted yesterday.

We made a big deal about the Aussie gold ATH last week amid raging global conflicts and still-uncertain macroeconomic times.

It was, and still is, a big deal, but we have a feeling we haven’t seen the last of fresh weekly highs on spot gold in the short term. We’ll see how that statement holds up this time next week.

“Technically, December gold futures bulls have the overall near-term technical advantage,” wrote Kitco’s analytical gold charts watcher Jim Wyckoff, adding:

“Prices are in an uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at the October high of US$2,009.20.”

Zooming out a tad, though, here’s how gold’s travelled over the past few years. You probably don’t need a reminder of how and why the stock markets crashed in early 2020, and how gold performed correspondingly. It’s a cruel mistress that rides high on crisis, but gotta respect the consistency, and the hedge.

Aussie gold price over the past few years. Source: abcbullion.com.au

 

 

AI will drive demand for gold: Metals Focus report

Wars, pandemic, inflation, chaos in general and the strength/weakness of the US dollar  – yep these things are all factors in the flight to the safety (and steady increase over time) of gold.

And obviously factors of supply and demand greatly affect the precious metal’s price, too. Supply, that is, from mining companies. And demand, certainly lately, significantly coming from global central bank hoarders and other investors.

But what else can drive the demand for the precious commodity? The jewellery trade and industrial usage.

Interestingly, according to a new report from independent global precious metals research group Metals Focus, the tech boom surrounding artificial intelligence (AI) “should” help support industrial demand for gold and other precious metals in 2024.

Meanwhile the World Gold Council’s website notes that jewellery still represents the largest source of annual demand for gold per sector – near 50% of total gold demand, with China and India by far the biggest markets (albeit waning somewhat this year). Rappers such as Kanye and Jay Z make a fair crack as a competing market, too. Joking, sort of…

And industry/tech only represents about 7% of global gold demand at the moment according to Statista research, with investments and central banks making up the rest.

But the tech demand looks like it’s set to increase in coming years with the increase of generative AI and conversational AI applications, such as Chat GPT, for instance. How so?

 

AI boom takes precious metals along for the ride

“Expected upside from several applications that are gradually maturing should help support the recovery in industrial offtake [of precious metals] next year,”Metals Focus notes.

The thesis there is that a boom in demand for AI applications creates a boom in demand for the chips and components that help power the tech – a boon for manufacturers such as Nvidia, but also for precious metals producers.

“At present, among the various emerging applications there is little that is capturing more spotlight than artificial intelligence (AI)… Generative AI is expected to make inroads in a growing number of fields, particularly in 2024, wrote the precious metals consultancy.

Since most components used in conjunction with AI devices are high-specification, “we expect to see widespread support for a range of precious metals bearing components”.

Also:

“To cope with the evolution of AI algorithms, shipping growth for AI servers and switches will rise by double digits over the next few years and stimulate precious metals demand.

“Demand will rise for platinum alloys used in chip manufacturing, silver-palladium Ag-Pd multi-layer ceramic capacitors (MLCCs) in high power components, gold bonding wire in chip and memory packages, gold plating in printed circuit boards and palladium plating on lead frames.”

And here’s an example of the incredible power of AI technology…

Next stop, AI is definitely plotting in the background, secretly planning to take over our jobs at Stockhead when we’re down the pub on a Friday and not looking…

(It bangs on a bit here, so we’d best not go into it any further.)

 

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] and/or [email protected]

Code Company Price % Week % Month % Year Market Cap
MRR Minrex Resources Ltd 0.014 -10% -3% -67% $16,273,013
NPM Newpeak Metals 0.001 0% 0% 0% $9,995,579
ASO Aston Minerals Ltd 0.032 -11% -6% -58% $42,737,121
MTC Metalstech Ltd 0.145 -15% -3% -64% $27,347,666
FFX Firefinch Ltd 0.2 0% 0% 0% $236,569,315
GED Golden Deeps 0.05 -2% -9% -62% $5,776,117
G88 Golden Mile Res Ltd 0.022 0% -27% -13% $7,246,569
DCX Discovex Res Ltd 0.002 0% 0% -43% $6,605,136
NMR Native Mineral Res 0.038 -32% -10% -73% $7,658,354
AQX Alice Queen Ltd 0.014 0% 8% -72% $1,771,208
SLZ Sultan Resources Ltd 0.018 0% -14% -81% $2,667,421
MKG Mako Gold 0.016 -16% 23% -62% $9,216,131
KSN Kingston Resources 0.084 -2% 4% 4% $43,322,680
AMI Aurelia Metals Ltd 0.091 -2% 0% -5% $155,042,375
PNX PNX Metals Limited 0.004 0% 60% 7% $21,522,499
GIB Gibb River Diamonds 0.038 0% 41% -31% $8,037,359
KCN Kingsgate Consolid. 1.065 -7% -10% -35% $278,371,827
TMX Terrain Minerals 0.005 25% 0% -17% $5,030,575
BNR Bulletin Res Ltd 0.16 63% 122% 14% $36,698,888
NXM Nexus Minerals Ltd 0.039 -5% -24% -75% $14,784,285
SKY SKY Metals Ltd 0.04 -5% -13% -20% $18,455,924
LM8 Lunnonmetalslimited 0.735 4% -5% -5% $156,515,631
CST Castile Resources 0.059 23% 18% -49% $13,788,438
YRL Yandal Resources 0.055 4% 8% -50% $8,836,972
FAU First Au Ltd 0.0025 0% 0% -50% $3,629,983
ARL Ardea Resources Ltd 0.505 3% -17% -42% $93,437,719
GWR GWR Group Ltd 0.07 -1% -17% 9% $22,485,166
IVR Investigator Res Ltd 0.042 14% 2% -11% $56,049,631
GTR Gti Energy Ltd 0.007 -18% -30% -56% $16,359,577
IPT Impact Minerals 0.0095 -5% -21% 36% $28,647,039
BNZ Benzmining 0.36 -5% -18% -22% $37,995,501
MOH Moho Resources 0.007 0% -22% -73% $2,720,355
BBX BBX Minerals Ltd 0.028 8% 4% -56% $18,277,303
PUA Peak Minerals Ltd 0.004 33% 33% -33% $3,644,818
MRZ Mont Royal Resources 0.155 -9% -21% -16% $13,578,664
SMS Starmineralslimited 0.035 -22% -13% -60% $1,558,870
MVL Marvel Gold Limited 0.012 9% 20% -50% $9,501,698
PRX Prodigy Gold NL 0.008 0% 0% -27% $14,008,863
AAU Antilles Gold Ltd 0.021 -5% -16% -56% $17,047,501
CWX Carawine Resources 0.118176 9% -14% 40% $23,259,101
RND Rand Mining Ltd 1.3 2% 0% -13% $74,223,129
CAZ Cazaly Resources 0.031 -11% -16% -6% $12,245,093
BMR Ballymore Resources 0.13 0% 30% -32% $19,005,644
DRE Dreadnought Resources Ltd 0.03 -32% -42% -74% $110,194,673
ZNC Zenith Minerals Ltd 0.09 -3% -1% -68% $32,066,660
REZ Resourc & En Grp Ltd 0.015 0% -6% -29% $7,497,087
LEX Lefroy Exploration 0.175 3% -3% -40% $34,352,807
ERM Emmerson Resources 0.06 -2% -6% -24% $32,682,587
AM7 Arcadia Minerals 0.09 -5% -14% -71% $9,814,509
ADT Adriatic Metals 3.48 -1% -1% 44% $812,764,349
GMR Golden Rim Resources 0.021 5% -5% -46% $12,423,356
CYL Catalyst Metals 0.6 -6% 22% -48% $132,052,526
CHN Chalice Mining Ltd 1.88 0% -18% -56% $696,244,314
KAL Kalgoorliegoldmining 0.028 -7% -7% -73% $4,304,587
MLS Metals Australia 0.034 3% 3% -13% $21,217,230
ADN Andromeda Metals Ltd 0.021 5% 0% -48% $65,310,177
MEI Meteoric Resources 0.24 14% 2% 1746% $456,054,425
SRN Surefire Rescs NL 0.014 0% -7% 8% $23,169,089
SIH Sihayo Gold Limited 0.002 0% 0% -20% $24,408,512
WA8 Warriedarresourltd 0.058 -3% -21% -59% $28,246,926
HMX Hammer Metals Ltd 0.042 2% -7% -34% $38,115,516
WCN White Cliff Min Ltd 0.012 4% -8% -37% $15,084,223
AVM Advance Metals Ltd 0.003 0% -45% -75% $1,765,676
WRM White Rock Min Ltd 0.063 0% 0% -19% $17,508,200
ASR Asra Minerals Ltd 0.007 -13% -18% -71% $10,126,460
MCT Metalicity Limited 0.002 -20% 33% -50% $7,472,172
AME Alto Metals Limited 0.045 0% -2% -41% $32,853,204
CTO Citigold Corp Ltd 0.005 25% 11% -17% $11,494,636
TIE Tietto Minerals 0.4125 -1% 18% -43% $467,991,537
SMI Santana Minerals Ltd 0.595 13% 8% -14% $102,253,117
M2R Miramar 0.027 -33% -48% -69% $4,019,478
MHC Manhattan Corp Ltd 0.005 -17% -29% -17% $14,684,899
GRL Godolphin Resources 0.038 6% 6% -55% $6,431,197
TRY Troy Resources Ltd 0 -100% -100% -100% $62,920,961
SVG Savannah Goldfields 0.058 -8% -11% -72% $11,625,533
EMC Everest Metals Corp 0.1 -9% -9% 0% $12,795,178
GUL Gullewa Limited 0.055 0% 0% -11% $10,767,521
CY5 Cygnus Metals Ltd 0.17 13% -6% -69% $42,056,183
G50 Gold50Limited 0.125 -14% 0% 4% $13,464,375
ADV Ardiden Ltd 0.0055 -8% 10% -21% $16,130,012
AAR Astral Resources NL 0.08 -4% -1% 27% $62,402,946
MGV Musgrave Minerals 0 -100% -100% -100% $230,571,100
VMC Venus Metals Cor Ltd 0.1 0% -20% 15% $18,972,868
NAE New Age Exploration 0.0055 0% -21% -27% $9,866,444
VKA Viking Mines Ltd 0.009 -10% -10% 13% $8,202,067
LCL LCL Resources Ltd 0.026 -7% -4% 10% $23,034,829
MTH Mithril Resources 0.001 -33% -50% -80% $3,368,804
ADG Adelong Gold Limited 0.0065 -7% -7% -19% $4,174,256
RMX Red Mount Min Ltd 0.004 0% 0% 0% $10,694,304
PRS Prospech Limited 0.02 -13% -26% -36% $4,395,200
XTC Xantippe Res Ltd 0.001 0% 0% -76% $17,528,005
TTM Titan Minerals 0.035 -3% 0% -54% $53,373,364
NML Navarre Minerals Ltd 0.019 0% 0% -59% $28,555,654
MZZ Matador Mining Ltd 0.046 -4% -15% -58% $14,828,220
KZR Kalamazoo Resources 0.095 -2% -5% -47% $16,110,457
BCN Beacon Minerals 0.026 -4% 8% 8% $97,675,972
MAU Magnetic Resources 1.02 4% 21% 19% $244,096,889
BC8 Black Cat Syndicate 0.21 14% -11% -28% $64,659,771
EM2 Eagle Mountain 0.071 -7% -10% -62% $21,652,647
EMR Emerald Res NL 2.595 -8% 1% 131% $1,628,162,477
BYH Bryah Resources Ltd 0.014 0% -7% -41% $5,020,474
HCH Hot Chili Ltd 1.11 6% -6% 14% $124,223,014
WAF West African Res Ltd 0.73 -4% -7% -30% $733,670,850
MEU Marmota Limited 0.036 13% 3% -23% $39,175,621
NVA Nova Minerals Ltd 0.255 -9% 6% -64% $57,994,739
DCN Dacian Gold Ltd 0.28 -5% 133% 100% $340,704,263
SVL Silver Mines Limited 0.165 -6% -6% -8% $231,714,804
PGD Peregrine Gold 0.29 18% -2% -51% $16,291,507
ICL Iceni Gold 0.059 -13% -28% -16% $14,151,571
FG1 Flynngold 0.065 7% 25% -41% $8,864,868
WWI West Wits Mining Ltd 0.014 0% 0% -26% $34,819,511
RML Resolution Minerals 0.006 20% 0% -45% $6,286,459
AAJ Aruma Resources Ltd 0.032 -3% 3% -54% $6,300,528
AL8 Alderan Resource Ltd 0.012 0% 9% 33% $6,783,641
GMN Gold Mountain Ltd 0.006 20% 0% 0% $13,614,472
MEG Megado Minerals Ltd 0.035 6% -13% -51% $8,905,945
HMG Hamelingoldlimited 0.083 -1% -1% -45% $13,072,500
TBA Tombola Gold Ltd 0.026 0% 0% -19% $33,129,243
BM8 Battery Age Minerals 0.235 9% -10% -53% $20,947,169
TBR Tribune Res Ltd 3.04 0% -5% -15% $165,799,123
FML Focus Minerals Ltd 0.155 7% -16% 3% $47,282,176
GSR Greenstone Resources 0.008 -6% -11% -68% $10,923,331
VRC Volt Resources Ltd 0.0075 -6% -17% -72% $29,545,679
ARV Artemis Resources 0.022 16% -24% -31% $34,648,204
HRN Horizon Gold Ltd 0.305 2% -7% -7% $38,180,401
CLA Celsius Resource Ltd 0.011 0% 0% -15% $22,460,517
QML Qmines Limited 0.081 -10% -15% -56% $18,226,965
RDN Raiden Resources Ltd 0.037 54% 16% 333% $77,083,551
TCG Turaco Gold Limited 0.05 0% -2% 19% $25,135,833
KCC Kincora Copper 0.029 -6% -26% -52% $4,967,039
GBZ GBM Rsources Ltd 0.018 13% 20% -64% $11,165,793
DTM Dart Mining NL 0.019 -12% -20% -74% $3,489,220
MKR Manuka Resources. 0.044 5% -4% -66% $24,750,883
AUC Ausgold Limited 0.031 3% -6% -30% $64,291,954
ANX Anax Metals Ltd 0.035 -3% -13% -42% $15,046,637
EMU EMU NL 0.0015 -25% -50% -64% $2,501,282
SFM Santa Fe Minerals 0.043 0% 0% -51% $3,131,208
SSR SSR Mining Inc. 21.97 0% -1% 0% $494,341,033
PNR Pantoro Limited 0.041 0% 8% -71% $208,161,221
CMM Capricorn Metals 4.68 -2% 13% 43% $1,725,648,023
X64 Ten Sixty Four Ltd 0.57 0% 0% -7% $130,184,182
SI6 SI6 Metals Limited 0.005 -9% -29% -9% $9,969,297
HAW Hawthorn Resources 0.095 4% -5% 13% $31,826,483
BGD Bartongoldholdings 0.235 0% 21% 68% $45,945,742
SVY Stavely Minerals Ltd 0.074 7% 1% -41% $27,554,786
AGC AGC Ltd 0.0645 3% -1% -5% $6,500,000
RVR Red River Resources 0 -100% -100% -100% $37,847,908
RGL Riversgold 0.01 -17% -17% -77% $9,512,615
TSO Tesoro Gold Ltd 0.02 18% -5% -39% $20,018,639
OKR Okapi Resources 0.125 9% -31% -46% $28,361,612
CPM Coopermetalslimited 0.12 4% -8% -62% $6,386,118
MM8 Medallion Metals. 0.06 -17% -8% -66% $17,836,639
AUT Auteco Minerals 0.03 0% 0% -35% $162,041,718
CBY Canterbury Resources 0.027 0% 0% -39% $3,902,135
LYN Lycaonresources 0.205 -5% -31% -15% $8,013,750
SFR Sandfire Resources 6.115 3% 1% 80% $2,719,104,804
NCM Newcrest Mining 23.35 -7% -5% 44% $20,880,287,592
TMZ Thomson Res Ltd 0.005 0% 0% -74% $4,881,018
TAM Tanami Gold NL 0.035 -10% -5% -13% $41,128,397
WMC Wiluna Mining Corp 0.205 0% 0% 0% $74,238,031
NWM Norwest Minerals 0.036 9% 24% 9% $10,352,502
ALK Alkane Resources Ltd 0.5725 -9% 0% -18% $352,770,510
BMO Bastion Minerals 0.017 6% -15% -74% $3,555,640
IDA Indiana Resources 0.05 -9% -11% -17% $29,396,979
GSM Golden State Mining 0.02 -44% -41% -43% $3,630,677
NSM Northstaw 0.035 0% 3% -71% $4,324,572
GSN Great Southern 0.021 -19% -9% -56% $17,356,609
RED Red 5 Limited 0.32 -2% 14% 106% $1,090,589,614
DEG De Grey Mining 1.1575 -11% -1% 6% $2,086,950,633
THR Thor Energy PLC 0.027 0% -36% -66% $4,761,086
CDR Codrus Minerals Ltd 0.061 2% -22% -6% $5,322,250
MDI Middle Island Res 0.021 -5% -5% -66% $2,953,823
BAT Battery Minerals Ltd 0.047 34% 42% -65% $5,980,225
POL Polymetals Resources 0.3 5% -9% 50% $44,944,867
RDS Redstone Resources 0.007 0% 0% 0% $6,099,649
NAG Nagambie Resources 0.023 21% 10% -69% $12,797,979
BGL Bellevue Gold Ltd 1.445 -3% 2% 93% $1,613,952,204
GBR Greatbould Resources 0.066 2% 16% -24% $33,508,974
KAI Kairos Minerals Ltd 0.019 -5% -10% -25% $52,418,244
KAU Kaiser Reef 0.17 -13% -3% -8% $25,139,129
HRZ Horizon 0.035 25% -8% -39% $24,534,429
CAI Calidus Resources 0.19 46% 19% -44% $97,260,778
CDT Castle Minerals 0.011 16% 16% -54% $12,933,173
RSG Resolute Mining 0.355 -3% 4% 103% $734,522,254
MXR Maximus Resources 0.04 14% 25% -2% $12,503,625
EVN Evolution Mining Ltd 3.54 -2% 3% 77% $6,558,746,409
CXU Cauldron Energy Ltd 0.009 0% -17% -6% $8,762,118
DLI Delta Lithium 0.6075 -9% -21% 11% $309,583,481
ALY Alchemy Resource Ltd 0.01 -9% -23% -71% $11,780,763
HXG Hexagon Energy 0.008 0% -11% -47% $4,103,327
OBM Ora Banda Mining Ltd 0.125 14% 19% 56% $221,383,794
SLR Silver Lake Resource 1.03 4% 16% -12% $911,375,725
AVW Avira Resources Ltd 0.002 33% 0% -33% $3,200,685
LCY Legacy Iron Ore 0.016 -11% 7% -11% $108,916,045
PDI Predictive Disc Ltd 0.23 0% 15% 39% $444,672,479
MAT Matsa Resources 0.036 33% 33% -5% $16,172,917
ZAG Zuleika Gold Ltd 0.015 -6% 25% -21% $7,322,709
GML Gateway Mining 0.024 -4% -17% -67% $6,392,005
SBM St Barbara Limited 0.2225 11% 20% 4% $175,863,632
SBR Sabre Resources 0.048 45% 20% -4% $13,991,337
STK Strickland Metals 0.1 12% 89% 75% $158,513,464
SAU Southern Gold 0.013 0% -13% -61% $6,321,709
CEL Challenger Gold Ltd 0.08 3% -5% -47% $95,722,556
LRL Labyrinth Resources 0.005 -29% -29% -73% $5,937,719
NST Northern Star 11.895 -1% 11% 39% $13,790,653,392
OZM Ozaurum Resources 0.089 3% -1% 11% $14,128,750
TG1 Techgen Metals Ltd 0.03 3% 3% -76% $2,315,048
XAM Xanadu Mines Ltd 0.065 -10% -20% 132% $108,096,397
CHZ Chesser Resources 0 -100% -100% -100% $65,818,414
AQI Alicanto Min Ltd 0.048 12% 14% 50% $30,029,003
KTA Krakatoa Resources 0.022 22% 5% -65% $9,567,754
ARN Aldoro Resources 0.099 10% 11% -65% $13,327,751
WGX Westgold Resources. 1.9725 1% 12% 144% $930,668,664
MBK Metal Bank Ltd 0.032 -16% -20% -7% $11,497,718
A8G Australasian Metals 0.18 -8% 20% -25% $9,381,689
TAR Taruga Minerals 0.01 11% 11% -69% $6,354,241
DTR Dateline Resources 0.01 0% -33% -85% $8,854,428
GOR Gold Road Res Ltd 1.915 2% 15% 41% $1,981,107,688
S2R S2 Resources 0.185 -5% 3% 37% $77,917,389
NES Nelson Resources. 0.004 0% -33% -50% $2,454,377
TLM Talisman Mining 0.135 -4% -4% -4% $27,306,451
BEZ Besragoldinc 0.165 38% 6% 280% $66,896,145
PRU Perseus Mining Ltd 1.735 5% 5% -3% $2,354,739,386
SPQ Superior Resources 0.023 15% -4% -50% $42,194,736
PUR Pursuit Minerals 0.01 11% 0% -9% $26,495,743
RMS Ramelius Resources 1.71 -1% 16% 161% $1,898,682,060
PKO Peako Limited 0.005 -29% -17% -64% $2,635,424
ICG Inca Minerals Ltd 0.02 11% 18% -29% $9,847,995
A1G African Gold Ltd. 0.04 0% -2% -49% $6,772,448
OAU Ora Gold Limited 0.0075 0% -17% 71% $33,519,665
GNM Great Northern 0.02 0% -26% -67% $3,092,582
KRM Kingsrose Mining Ltd 0.05 4% -2% -6% $37,626,326
BTR Brightstar Resources 0.011 0% 0% -39% $20,116,251
RRL Regis Resources 1.695 3% 13% 16% $1,287,852,668
M24 Mamba Exploration 0.03 -14% -47% -76% $2,134,417
TRM Truscott Mining Corp 0.063 0% 24% 85% $10,922,125
TNC True North Copper 0.145 -3% -19% 174% $37,677,010
MOM Moab Minerals Ltd 0.007 8% -42% -36% $4,983,744
KNB Koonenberrygold 0.044 7% -2% -44% $5,149,211
AWJ Auric Mining 0.048 -4% 14% -33% $6,150,401
AZS Azure Minerals 3.505 45% 33% 1130% $1,555,717,697
ENR Encounter Resources 0.27 13% -5% 93% $106,791,961
SNG Siren Gold 0.068 10% -4% -66% $10,808,723
STN Saturn Metals 0.13 0% -10% -49% $24,709,185
USL Unico Silver Limited 0.1 16% 6% -33% $29,309,108
PNM Pacific Nickel Mines 0.095 14% 8% 32% $37,642,779
AYM Australia United Min 0.003 0% 0% -25% $5,527,732
ANL Amani Gold Ltd 0.001 0% 0% -33% $25,143,441
HAV Havilah Resources 0.23 -4% -4% -27% $72,827,018
SPR Spartan Resources 0.4025 -7% 7% 104% $351,153,334
PNT Panthermetalsltd 0.075 6% 1% -58% $4,586,250
MEK Meeka Metals Limited 0.042 11% -14% -32% $49,810,275
GMD Genesis Minerals 1.445 -4% 2% 26% $1,551,182,509
PGO Pacgold 0.24 7% 26% -42% $19,681,416
FEG Far East Gold 0.17 3% 3% -74% $28,896,994
MI6 Minerals260Limited 0.36 -11% -24% 13% $86,580,000
IGO IGO Limited 10.88 -5% -9% -34% $8,140,628,990
GAL Galileo Mining Ltd 0.31 -2% 2% -74% $63,239,977
RXL Rox Resources 0.225 2% -12% 29% $81,007,214
KIN KIN Min NL 0.054 15% 35% -33% $61,263,828
CLZ Classic Min Ltd 0.001 0% 0% -94% $12,357,082
TGM Theta Gold Mines Ltd 0.125 -11% -11% 58% $88,134,376
FAL Falconmetalsltd 0.14 -3% 8% -32% $23,895,000
SXG Southern Cross Gold 0.985 26% 23% 170% $81,950,617
SPD Southernpalladium 0.385 -8% -13% -62% $16,585,156
ORN Orion Minerals Ltd 0.017 -6% -11% 13% $96,673,923
TMB Tambourahmetals 0.13 13% -32% 0% $9,952,842
TMS Tennant Minerals Ltd 0.028 0% 0% -10% $19,745,269
AZY Antipa Minerals Ltd 0.012 -14% -8% -53% $44,367,391
PXX Polarx Limited 0.009 0% 0% 13% $14,036,551
TRE Toubaniresourcesinc 0.12 9% 9% 0% $14,103,462
AUN Aurumin 0.03 0% 3% -63% $9,553,292
GPR Geopacific Resources 0.015 0% 7% -76% $13,960,249
FXG Felix Gold Limited 0.058 -11% -24% -59% $6,706,911
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Best-performing goldies over the past week

The week’s biggest gains 🚀

Bulletin Resources (ASX:BNR) : +63%

Calidus Resources (ASX:CAI) : +46%

Besra Gold (ASX:BEZ): +38%

 

 

Who else is turning heads? 

Plenty. In no particular preferential order, let’s start with…

Strickland Metals (ASX:STK)

Strickland Metals is days away from commencing diamond drilling to test what could be a concealed gold deposit – called Marwari – at its Yandal project in WA.

The company discovered Marwari last month as part of an extensive aircore drilling blitz designed to systematically explore for gold in new areas – including the poorly understood Horse Well project – that it had acquired in July 2021 to consolidate the entire NE flank of the prolific Yandal Greenstone belt.

Further to this…

  • Aircore drilling at Marwari previously returned 31m at 5.6g/t
  • Diamond rig will now test the prospect, with an RC rig to follow

Our special report has more.

 

West Wits Mining (ASX:WWI)

West Wits is pursuing gold opportunities in South Africa’s Witwatersrand Basin, where development on its eponymous 4.28Moz gold camp continues apace.

Most recently, the ASX-lister attracted a $15.7m investment from a cornerstone US backer — capital that will help the company fine-tune its 924,000oz Qala Shallows gold hub.

The news comes soon after WWI released a DFS update, highlighting a 105% jump in free cashflow and forecasting an increase in gold production from 43,000ozpa to 51,000ozpa over 17.7 years, with steady-state production holding strong at 70,000ozpa for 9 years.

Tune into the Explorers Podcast for more on this, in which Stockhead’s ‘Garimpeiro’ columnist Barry FitzGerald chats with Michael Quinert, chairman of WWI.

 

Spartan Resources (ASX:SPR)

Barry also recently chatted with Simon Lawson, managing director and CEO at Spartan Resources.

Spartan is pursuing high-grade gold opportunities in the heart of the Murchison Region, where it’s leveraging nearby infrastructure to build a sustainable operations plan.

Right now, all eyes are on visible gold intersected 130 metres below the deepest assays at the company’s Never Never discovery, part of its flagship Dalgaranga gold camp in WA.

But these fresh results are just a small part of a much bigger drilling picture; an ongoing 32,000-metre campaign is looking to add ounces to Never Never’s left, right and centre, building to an upgrade for its 721,200oz gold resource.

Listen in, here.

 

Ora Banda (ASX:OBM)

Ora Banda’s strategy to focus on higher-grade underground ore is just beginning with an increase in reserve grade by 50% at the Davyhurst gold project, 100km NW of Kalgoorlie, WA.

The 1,200km2 Davyhurst tenements boast a current resource base of 1.8Moz at an average grade of 2.6 g/t gold.

The tenement package is centred on five key, highly prospective project hubs (Mulline, Riverina, Davyhurst, Callion, and Siberia) where historical production is estimated at 1.4Moz gold since 1897.

Underground drilling has commenced at Riverina to focus on extensions to the higher-grade resource.

More, here.

 

More gilt-edged news

Explore Stockhead’s gold coverage further, and read about the latest happenings with:

Bellevue Gold (ASX:BGL) , Gold Road Resources (ASX:GOR) and Regis Resources (ASX:RRL) > here

Antilles Gold (ASX:AAU) > here

Peregrine Gold (ASX:PGD) > here

Golden State Mining (ASX:GSM) > here

Southern Cross Gold (ASX:SXG) > here

And…

Bishop Resources > here

 

At Stockhead we tell it like it is. While Strickland Metals, Ora Banda, Antilles Gold, Peregrine Gold, Southern Cross Gold and Golden State Mining are Stockhead advertisers, they did not sponsor this article.

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