US Fed chair Jerome Powell finally admitted that inflationary pressures weren’t going to be as sh­­ort-lived as perhaps expected.

Earlier this week Powell surprised markets by suggesting it would be appropriate to drop the phrase “inflation is transitory” from the Fed’s lexicon.

For gold bugs, the prospect of higher inflation is often viewed as a good thing. Gold is an ‘inflation hedge’; an investment that ostensibly protects the buyer from decreased purchasing power of a currency due to rising prices.

Which is happening right now, everywhere.

Goehring & Rozencwajg Associates managing partner Leigh Goehring told Kitco that we are “getting closer to the explosion of gold prices to the upside”.

“There are too many similarities between now and the late 1960s and early 1970s, and they cannot be ignored,” he says.

“Back then, inflation was going up about 5%-6% per year — the same as now. And then, in 1973, there was the black swan event — the oil embargo.”

Oil went from $US4 a barrel up to $US15 a barrel literally overnight.

This time there’s a difference, Goehring says.

“This time around the Fed will have to give up on raising rates because it will be too painful for everyone,” he says.

“Once the precious metal bottoms from the Fed’s tightening action, it will begin its massive bull market.”

‘Rapidly approaching an inflection point’

In November, Goehring & Rozencwajg wrote that multiple trends supported the view that we are rapidly approaching inflation’s inflection point.

“In 2019, M2 [money supply] was only growing at 4% per year; today it is growing at 27% per year — the fastest rate in history,” they say.

All this free cash means shortages are starting to develop, Goehring & Rozencwajg say, in everything from timber, semiconductors, restaurant workers and ketchup packets.

Meanwhile, economically sensitive commodities such as copper have entered new bull markets while surging grain prices warn of significant food inflation ahead.

“Despite these trends, investors continue to pile into technology stocks, SPACs, cryptocurrencies and long-term bonds; each of which will perform terribly in an inflationary environment,” Goehring & Rozencwajg say.

“In stark contrast, inflation hedges like gold remain priced at record low levels relative to financial assets and are ignored by almost all investors.

“The countdown to inflation is ticking and we are getting closer and closer to an explosion in inflationary pressures,” Goehring & Rozencwajg says.

“All economic signs point in that direction, yet few investors are prepared to protect themselves, yet alone profit from an investment landscape that is about to suddenly and radically change.”


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 % SHARE PRICE [INTRADAY FRI] MARKET CAP
MRR Minrex Resources 138 163 100 108 0.05 $ 23,959,869.26
NPM Newpeak Metals 50 0 -25 -50 0.0015 $ 11,137,027.65
ASO Aston Minerals 36 25 -30 275 0.15 $ 143,129,614.35
MTC Metalstech 29 -1 94 103 0.33 $ 58,332,606.50
FFX Firefinch 26 34 113 459 0.81 $ 811,237,149.72
GED Golden Deeps 25 25 25 7 0.015 $ 10,861,920.16
G88 Golden Mile Res 22 6 -8 8 0.056 $ 9,406,008.04
DCX Discovex Res 11 0 -23 -17 0.005 $ 10,274,656.30
NMR Native Mineral Res 10 17 5 -24 0.275 $ 8,981,675.28
AQX Alice Queen 10 -15 -27 -59 0.011 $ 15,072,453.11
SLZ Sultan Resources 10 -3 -41 -28 0.17 $ 11,125,502.24
MKG Mako Gold 10 26 22 0 0.115 $ 43,957,784.23
KSN Kingston Resources 9 -10 -16 -33 0.19 $ 65,990,343.05
AMI Aurelia Metals 8 14 -2 -2 0.42 $ 513,378,429.66
PNX PNX Metals Limited 8 0 -30 17 0.007 $ 23,739,257.82
GIB Gibb River Diamonds 7 1 17 -40 0.09 $ 19,035,850.05
KCN Kingsgate Consolid. 6 9 67 92 1.5 $ 336,407,088.56
TMX Terrain Minerals 6 6 -15 -23 0.0085 $ 6,253,968.58
BNR Bulletin Res 6 15 29 24 0.086 $ 21,570,721.31
NXM Nexus Minerals 6 31 540 275 0.525 $ 145,417,789.60
SKY SKY Metals 6 15 -42 -54 0.093 $ 35,040,862.71
LM8 Lunnonmetalslimited 6 -5 0.375 $ 26,044,053.04
CST Castile Resources 5 -26 -20 -29 0.2 $ 39,942,024.20
YRL Yandal Resources 5 -8 -31 -17 0.41 $ 40,204,372.65
FAU First Au 5 -9 -42 -48 0.0105 $ 7,682,859.40
ARL Ardea Resources 5 14 17 23 0.545 $ 69,415,109.50
GWR GWR Group 5 0 -54 -41 0.11 $ 31,792,576.52
AGG AngloGold Ashanti 4 22 -7 -6 5.8 $ 524,541,658.20
IVR Investigator Res 4 13 -27 33 0.077 $ 103,267,835.35
GTR Gti Resources 4 -10 27 62 0.027 $ 29,348,311.93
IPT Impact Minerals 4 -4 -16 -39 0.0135 $ 27,321,231.41
BNZ Benzmining 3 7 -24 0.695 $ 34,824,770.64
MOH Moho Resources 3 5 -22 -46 0.062 $ 7,798,074.92
BBX BBX Minerals 3 3 -37 -42 0.165 $ 75,573,543.38
PUA Peak Minerals 3 -8 -21 -41 0.0165 $ 14,276,841.92
MRZ Mont Royal Resources 3 -18 4 15 0.35 $ 20,417,582.85
SMS Starmineralslimited 3 -9 0.18 $ 4,725,000.00
MVL Marvel Gold Limited 3 4 41 29 0.072 $ 42,259,162.18
PRX Prodigy Gold NL 3 6 -35 -36 0.037 $ 21,557,221.42
AAU Antilles Gold 3 1 23 29 0.076 $ 22,800,372.08
CWX Carawine Resources 3 -3 -22 -26 0.195 $ 26,541,863.99
RND Rand Mining 2 6 9 -29 1.49 $ 84,745,181.89
CAZ Cazaly Resources 2 0 -29 -6 0.044 $ 16,260,783.75
BMR Ballymore Resources 2 -8 0 0 0.22 $ 15,725,177.82
DRE Drednought Resources 2 21 92 109 0.046 $ 130,418,443.35
ZNC Zenith Minerals 2 0 -6 74 0.235 $ 79,332,017.98
REZ Resourc & En Grp 2 -2 71 -11 0.048 $ 23,990,677.87
LEX Lefroy Exploration 1 -13 -72 84 0.35 $ 49,452,308.64
ERM Emmerson Resources 1 -10 -6 0 0.077 $ 37,866,125.16
AM7 Arcadia Minerals 1 4 0.2075 $ 6,840,000.00
ADT Adriatic Metals 1 -5 8 24 2.69 $ 623,694,432.04
GMR Golden Rim Resources 1 1 -45 -39 0.091 $ 22,874,715.05
CYL Catalyst Metals 1 8 8 -21 2.19 $ 215,618,033.37
CHN Chalice Mining 0 48 4 146 9.45 $ 3,351,093,182.80
KAL Kalgoorliegoldmining 0 0.16 $ 10,865,190.00
MLS Metals Australia 0 25 25 25 0.0025 $ 10,477,114.72
ADN Andromeda Metals 0 -3 -20 -40 0.16 $ 397,396,327.36
MEI Meteoric Resources 0 -11 -69 -71 0.017 $ 24,858,956.16
SRN Surefire Rescs NL 0 -8 -45 -73 0.012 $ 13,251,724.91
SIH Sihayo Gold Limited 0 13 -25 -55 0.009 $ 29,483,691.30
AWV Anova Metals 0 0 -13 -26 0.02 $ 28,661,884.00
HMX Hammer Metals 0 -12 -56 28 0.046 $ 33,353,279.54
WCN White Cliff Min 0 23 -11 -45 0.016 $ 8,275,142.38
PAK Pacific American Hld 0 0 -9 -17 0.017 $ 8,123,915.83
WRM White Rock Min 0 2 -48 -47 0.31 $ 44,164,389.32
TNR Torian Resources 0 -15 -32 -26 0.023 $ 25,070,968.14
MCT Metalicity Limited 0 0 -25 -47 0.009 $ 19,293,943.79
AME Alto Metals Limited 0 5 14 5 0.105 $ 53,649,042.51
CTO Citigold Corp 0 -9 -9 -23 0.01 $ 28,336,590.91
TIE Tietto Minerals 0 4 15 6 0.42 $ 250,663,531.35
SMI Santana Minerals 0 25 175 94 0.33 $ 42,443,932.16
M2R Miramar 0 14 -2 -38 0.205 $ 10,212,079.10
MHC Manhattan Corp 0 -17 -29 -66 0.01 $ 15,262,786.93
GRL Godolphin Resources 0 0 -9 -43 0.145 $ 12,196,134.30
TRY Troy Resources 0 0 -20 -56 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 -19 0.017 $ 20,867,429.74
LNY Laneway Res 0 20 20 -25 0.006 $ 19,520,329.67
TSC Twenty Seven Co. 0 -10 -10 -25 0.0045 $ 10,643,255.62
GUL Gullewa Limited 0 -6 -8 -24 0.08 $ 15,229,848.00
CY5 Cygnus Gold Limited 0 16 20 3 0.18 $ 20,953,432.98
G50 Gold50Limited 0 12 0.28 $ 14,089,040.28
ADV Ardiden 0 9 9 -40 0.012 $ 25,840,024.27
AAR Anglo Australian 0 10 2 -39 0.092 $ 54,848,489.99
MGV Musgrave Minerals 0 -14 -20 -14 0.345 $ 182,638,802.66
AGS Alliance Resources 0 -11 13 -16 0.17 $ 35,362,912.78
VMC Venus Metals Cor 0 0 -14 -18 0.18 $ 27,194,162.94
NAE New Age Exploration 0 0 -35 -15 0.011 $ 15,794,888.01
VKA Viking Mines 0 -22 -45 -33 0.018 $ 18,454,651.76
LCL Los Cerros Limited 0 -10 -26 8 0.13 $ 82,721,126.15
MTH Mithril Resources 0 13 3 -23 0.017 $ 43,863,961.70
DDD 3D Resources Limited 0 0 -33 21 0.004 $ 15,521,488.37
RMX Red Mount Min 0 0 5 -17 0.01 $ 14,644,583.02
PRS Prospech Limited 0 -18 -58 0 0.074 $ 4,823,394.37
XTC Xantippe Res 0 13 125 125 0.0045 $ 20,382,822.01
TTM Titan Minerals -1 -12 -17 -17 0.095 $ 132,174,782.31
NML Navarre Minerals -1 -17 -30 -65 0.074 $ 84,355,579.68
RXL Rox Resources -1 -1 -15 -50 0.37 $ 59,102,855.25
MZZ Matador Mining -1 -4 -29 1 0.355 $ 70,189,924.03
KZR Kalamazoo Resources -1 -1 -23 -35 0.345 $ 48,566,087.56
BCN Beacon Minerals -2 0 -14 -5 0.031 $ 111,329,059.75
MAU Magnetic Resources -2 -5 0 28 1.495 $ 340,350,644.40
BC8 Black Cat Syndicate -2 0 -23 -19 0.56 $ 78,852,374.16
EM2 Eagle Mountain -2 -18 -46 57 0.54 $ 118,245,330.76
EMR Emerald Res NL -2 11 -2 72 1.065 $ 548,898,025.46
BYH Bryah Resources -2 0 -33 -24 0.053 $ 11,762,773.10
HCH Hot Chili -2 -14 6 -7 2.01 $ 176,849,889.00
WAF West African Res -2 0 17 30 1.2725 $ 1,301,486,652.38
MEU Marmota Limited -2 -4 -4 -9 0.043 $ 42,143,496.59
NVADB Nova Minerals -2 -12 -6 -29 1.27 $ 227,334,770.12
DCN Dacian Gold -2 -9 -29 -41 0.205 $ 198,323,150.82
SVL Silver Mines Limited -2 -7 -36 0 0.205 $ 258,366,428.60
PGD Peregrine Gold -3 4 5 0.385 $ 12,935,536.08
ICL Iceni Gold -3 -31 -8 0.19 $ 22,758,198.67
FG1 Flynngold -3 23 0.185 $ 10,784,128.50
WWI West Wits Mining -3 -6 -60 -51 0.036 $ 48,743,458.38
RML Resolution Minerals -3 -5 -25 -57 0.018 $ 11,814,598.78
AAJ Aruma Resources -3 -11 14 -26 0.072 $ 9,069,228.22
AL8 Alderan Resource -3 -16 -38 -62 0.035 $ 14,469,246.72
GMN Gold Mountain -3 -8 -54 -58 0.0175 $ 18,727,610.48
MEG Megado -3 5 -33 -48 0.097 $ 4,089,635.81
HMG Hamelingoldlimited -3 0.16 $ 16,500,000.00
HMG Hamelingoldlimited -3 0.16 $ 16,500,000.00
TBA Tombola Gold -3 -6 -30 -24 0.032 $ 23,223,179.20
DGO DGO Gold Limited -3 0 -18 -4 2.88 $ 239,997,954.24
PF1 Pathfinder Resources -3 5 0 54 0.3 $ 15,670,697.95
TBR Tribune Res -3 -1 -6 -22 4.79 $ 251,322,088.83
FML Focus Minerals -3 4 -5 -16 0.285 $ 52,083,341.03
GSR Greenstone Resources -3 4 33 -10 0.028 $ 21,791,124.60
VRC Volt Resources -3 4 -13 155 0.028 $ 74,137,760.34
ARV Artemis Resources -4 -15 35 -30 0.081 $ 100,399,812.08
HRN Horizon Gold -4 -13 -25 -7 0.385 $ 43,743,726.56
CLA Celsius Resource -4 -11 -40 -47 0.025 $ 24,086,245.86
QML Qmines Limited -4 -1 -9 0.375 $ 20,644,755.52
RDN Raiden Resources -4 0 -8 -14 0.024 $ 33,007,855.30
TCG Turaco Gold Limited -4 -20 0 100 0.12 $ 49,027,694.82
KCC Kincora Copper -4 -18 -61 0.115 $ 8,808,434.28
GBZ GBM Rsources -4 -21 -15 -15 0.115 $ 58,283,070.31
DTM Dart Mining NL -4 -13 -43 -43 0.091 $ 10,208,256.26
MKR Manuka Resources. -4 -4 -16 -22 0.34 $ 34,506,961.42
AUC Ausgold Limited -4 2 -12 -12 0.045 $ 71,340,729.35
ANX Anax Metals -4 -22 -7 34 0.09 $ 28,014,711.20
EMU EMU NL -4 -19 -46 -45 0.022 $ 12,095,918.65
SFM Santa Fe Minerals -4 21 10 12 0.11 $ 7,645,972.85
SSR SSR Mining Inc. -4 16 1 -8 24.5 $ 522,074,658.00
PNR Pantoro Limited -4 44 41 59 0.325 $ 443,992,089.87
CMM Capricorn Metals -4 6 40 65 2.8 $ 1,047,964,375.39
MML Medusa Mining -4 -3 -14 -2 0.75 $ 154,927,444.25
SI6 SI6 Metals Limited -5 -5 -13 -25 0.0105 $ 14,281,439.85
HAW Hawthorn Resources -5 102 91 5 0.105 $ 33,351,561.30
BGD Bartongoldholdings -5 17 0.205 $ 17,597,199.18
SVY Stavely Minerals -5 11 -7 -44 0.51 $ 130,480,726.00
AOP Apollo Consolidated -5 -8 100 107 0.6 $ 169,139,942.20
KWR Kingwest Resources -5 67 120 25 0.2 $ 49,530,157.63
AGC AGC -5 -10 -41 0.095 $ 6,705,001.12
AGC AGC -5 -10 -41 0.095 $ 6,705,001.12
RVR Red River Resources -5 -5 -17 -32 0.19 $ 93,323,607.84
RGL Riversgold -5 -17 -54 -54 0.019 $ 7,676,801.72
TSO Tesoro Resources -5 -7 -55 -78 0.075 $ 41,400,516.00
OKR Okapi Resources -5 -15 102 174 0.465 $ 45,924,807.66
CPM Coopermetalslimited -5 0.185 $ 4,998,700.00
MM8 Medallion Metals. -5 -8 -38 0.185 $ 20,600,759.21
TRN Torrens Mining -5 -11 -5 0.1375 $ 9,404,766.63
AUT Auteco Minerals -5 0 -22 -27 0.073 $ 121,548,883.39
CBY Canterbury Resources -5 -19 -6 -11 0.089 $ 10,697,669.17
LYN Lycaonresources -6 0.42 $ 11,070,000.00
SFR Sandfire Resources -6 8 -11 18 5.95 $ 2,418,893,168.70
NCM Newcrest Mining -6 -6 -20 -19 22.68 $ 18,821,217,514.71
TMZ Thomson Res -6 -17 -54 -22 0.065 $ 36,103,298.92
TAM Tanami Gold NL -6 -10 -11 -13 0.065 $ 76,381,307.99
KLA Kirkland Lake Gold -6 -2 -3 -5 53.57 $ 53,760,000.00
WMC Wiluna Mining Corp -6 3 1 -29 1.04 $ 199,873,968.08
NWM Norwest Minerals -6 3 -8 -11 0.079 $ 14,267,974.73
ALK Alkane Resources -6 -10 -19 -26 0.785 $ 452,643,399.20
BMO Bastion Minerals -6 -18 18 0.23 $ 16,543,729.80
IDA Indiana Resources -6 11 -23 2 0.061 $ 26,531,764.56
GSM Golden State Mining -6 -13 -48 -60 0.091 $ 7,561,006.64
NSM Northstaw -6 5 -2 -36 0.3 $ 12,038,100.00
GSN Great Southern -6 -14 12 -19 0.059 $ 31,859,126.46
RED Red 5 Limited -7 4 50 -3 0.255 $ 612,653,769.52
DEG De Grey Mining -6 5 -26 8 1.17 $ 1,624,419,171.38
THR Thor Mining PLC -7 -18 -13 -26 0.014 $ 8,949,323.39
CDR Codrus Minerals -7 4 0.14 $ 5,800,000.00
MDI Middle Island Res -7 -1 -11 -64 0.098 $ 11,996,985.76
BAT Battery Minerals -7 8 -33 -36 0.014 $ 29,444,835.46
POL Polymetals Resources -7 0 0.14 $ 5,714,358.36
OKU Oklo Resources -7 4 12 -39 0.14 $ 70,564,173.68
RDS Redstone Resources -7 -7 -18 17 0.014 $ 9,346,987.82
NAG Nagambie Resources -7 -13 -1 46 0.07 $ 34,995,264.22
BGL Bellevue Gold -7 -11 -12 -43 0.765 $ 788,869,285.97
GBR Greatbould Resources -7 0 29 157 0.135 $ 46,440,655.17
KAI Kairos Minerals -7 -7 -27 -23 0.027 $ 45,424,995.78
KAU Kaiser Reef -7 -2 -33 -51 0.2 $ 23,872,039.23
HRZ Horizon -7 4 -4 24 0.13 $ 73,836,776.00
CAI Calidus Resources -7 -3 22 -4 0.585 $ 234,057,533.00
CDT Castle Minerals -7 44 63 160 0.026 $ 21,983,616.28
RSG Resolute Mining -7 -15 -42 -56 0.3475 $ 380,856,374.40
MXR Maximus Resources -7 -19 -20 -57 0.063 $ 19,072,081.92
EVN Evolution Mining -7 6 -29 -27 3.76 $ 7,057,079,579.55
AXE Archer Materials -7 -22 61 122 1.19 $ 293,367,140.30
CXU Cauldron Energy -7 -4 -40 -22 0.025 $ 12,282,340.75
RDT Red Dirt Metals -8 -2 366 125 0.675 $ 169,645,407.88
ALY Alchemy Resource -8 -8 -28 -39 0.012 $ 11,428,138.68
HXG Hexagon Energy -8 -18 -6 39 0.082 $ 36,573,133.81
OBM Ora Banda Mining -8 -13 -67 -76 0.07 $ 68,195,715.35
SLR Silver Lake Resource -8 -7 -19 -16 1.55 $ 1,412,207,087.34
VAN Vango Mining -8 -8 -14 -17 0.057 $ 73,076,382.66
AVW Avira Resources -8 -8 -8 -35 0.0055 $ 9,453,345.00
LCY Legacy Iron Ore -8 69 38 267 0.022 $ 134,499,508.86
PDI Predictive Disc -8 19 100 286 0.22 $ 300,120,174.64
BRV Big River Gold -8 -14 -41 -53 0.22 $ 48,277,339.44
MAT Matsa Resources -9 -12 -36 -56 0.053 $ 19,340,349.48
ZAG Zuleika Gold -9 5 -45 -67 0.021 $ 7,791,774.09
GML Gateway Mining -9 -9 -30 -47 0.0155 $ 34,728,372.65
BDCDB Bardoc Gold -9 -12 -21 -21 0.35 $ 101,223,347.05
SBM St Barbara Limited -9 -10 -33 -51 1.2625 $ 918,837,528.46
SBR Sabre Resources -9 0 0 -55 0.005 $ 8,446,568.25
STK Strickland Metals -9 -17 130 30 0.069 $ 83,854,365.43
SAU Southern Gold -9 -16 -21 -41 0.059 $ 12,586,396.60
CEL Challenger Exp -10 6 -2 36 0.285 $ 287,454,025.38
LRL Labyrinth Resources -10 -3 -27 46 0.038 $ 30,434,641.97
NST Northern Star -10 -2 -23 -32 8.84 $ 10,539,731,350.95
OZM Ozaurum Resources -10 -10 -18 0.135 $ 7,724,160.00
TG1 Techgen Metals -10 -8 -22 0.175 $ 7,837,589.88
XAM Xanadu Mines -10 -4 -43 -30 0.026 $ 33,994,019.25
CHZ Chesser Resources -10 -7 -10 -42 0.13 $ 62,841,976.88
AQI Alicanto Min -10 -16 -7 4 0.13 $ 49,752,770.21
KTA Krakatoa Resources -11 -16 -6 -22 0.051 $ 14,735,495.85
ARN Aldoro Resources -11 -26 31 170 0.405 $ 37,788,275.33
WGX Westgold Resources. -11 -2 -18 -28 1.845 $ 776,530,502.95
MBK Metal Bank -11 0 -7 -24 0.008 $ 9,512,546.43
A8G Australasian Metals -11 -27 159 0.44 $ 17,039,164.89
TAR Taruga Minerals -11 -9 -57 -22 0.04 $ 20,482,400.24
DTR Dateline Resources -11 -8 -1 58 0.079 $ 34,596,608.65
GOR Gold Road Res -11 -2 -12 4 1.335 $ 1,194,839,055.56
S2R S2 Resources -11 22 22 -25 0.195 $ 67,711,222.45
NES Nelson Resources. -11 -26 -48 -50 0.031 $ 6,023,058.05
TLM Talisman Mining -11 7 -30 41 0.155 $ 29,099,622.04
BEZ Besragoldinc -12 -18 0.115 $ 19,762,745.40
PRU Perseus Mining -12 -6 5 24 1.475 $ 1,852,950,550.70
SPQ Superior Resources -12 0 36 -6 0.015 $ 27,685,388.54
PUR Pursuit Minerals -12 -21 -62 36 0.03 $ 29,984,445.31
RMS Ramelius Resources -12 -9 -26 -18 1.4575 $ 1,280,739,214.50
PKO Peako Limited -12 -4 -37 0 0.022 $ 6,785,990.22
ICG Inca Minerals -12 -36 -42 50 0.087 $ 42,323,152.70
A1G African Gold . -12 -22 -27 11 0.18 $ 21,403,859.04
AZL Arizona Lithium -12 -20 229 820 0.092 $ 180,741,438.41
OAU Ora Gold Limited -13 6 -33 -36 0.014 $ 12,631,428.33
GNM Great Northern -13 -13 -56 -59 0.007 $ 8,463,356.83
KRM Kingsrose Mining -13 21 29 105 0.076 $ 56,732,975.37
BTR Brightstar Resources -13 2 37 -31 0.048 $ 26,249,321.71
RRL Regis Resources -13 -13 -35 -56 1.6725 $ 1,301,989,114.05
M24 Mamba Exploration -14 -7 -30 0.19 $ 7,400,000.00
TRM Truscott Mining Corp -14 3 -9 50 0.03 $ 4,558,246.32
DEX Duke Exploration -14 -5 -57 -52 0.18 $ 17,591,174.64
DLC Delecta Limited -14 -20 100 100 0.012 $ 14,458,904.46
KNB Koonenberrygold -14 -14 0.15 $ 11,117,434.20
AWJ Auric Mining -15 -4 -26 0.115 $ 6,447,976.06
AZS Azure Minerals -16 -21 19 -62 0.32 $ 97,881,752.12
ENR Encounter Resources -16 -35 -18 -15 0.13 $ 44,354,355.64
SNG Siren Gold -16 -10 -13 -58 0.305 $ 25,316,283.75
STN Saturn Metals -17 -2 -6 -38 0.45 $ 50,887,129.50
E2M E2 Metals -17 23 -9 -57 0.29 $ 42,131,939.64
PNM Pacific Nickel Mines -20 -37 52 43 0.076 $ 18,621,811.76
AYM Australia United Min -20 -20 14 -11 0.008 $ 14,740,619.88
BRB Breaker Res NL -21 -17 62 62 0.3 $ 94,493,869.41
ANL Amani Gold -25 -40 50 50 0.0015 $ 32,813,346.16

 

Weekly stock focus

Dacian Gold (ASX:DCN) has returned to the market chasing cash for its Mt Morgans gold mine near Laverton in WA’s Goldfields.

The $200 million capped gold miner entered a trading halt seeking $20 million in a fully underwritten raising to complete pre-stripping at its “thicker, higher grading” ‘Doublejay’ orebody by March 2022.

Dacian will have cash and gold on hand before costs of $36.8m.

The gold miner produced 15,819oz at an AISC of $2,362/oz in the September quarter, with FY2022 guidance of 100,000-110,000oz at an AISC of $1550-$1700/oz.

 

Northern Star Resources (ASX:NST)  subscribed for a C$154m ($169 million Aussie) convertible note that will give it an exclusive option for a 50% share in Osisko Mining’s Windfall project.

‘Windfall’ is a high-grade exploration and development asset in Canada’s Quebec Province.

It contains an indicated mineral resource of 1.857Moz at an ultra-high grade of 9.6g/t, with a further 4.24Moz at 8g/t in inferred resources.

That would underpin a mine with a 300,000ozpa capacity over its first 7 years, operating at all-in sustaining costs of just US$610/oz.

First production is pencilled in for 2024.

 

And West African Resources (ASX:WAF) has finalised the acquisition of the 6.8Moz Kiaka gold mine in the hopes of becoming a 400,000ozpa producer by the middle of the decade.

Having kicked off production at the Sanbrado mine in Burkina Faso in March 2020 at the start of the Covid-19 pandemic, WAF is now one of the lowest cost mid-tier gold producers on the ASX.

It is on track to beat the 280,000oz upper end of its production guidance in its first full year of operations in 2021.