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Gold Digger: Bullish sentiment is rewarding exciting exploration stories, not just the big discoveries
Mining
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Gold prices nudged above $1,700/oz ($2,700/oz) this week. While COVID-19 could still impact production figures in 2020, most producers – especially the Australians – should be making very healthy margins at these levels.
Winners & Losers
Here’s how ASX gold stocks performed for the period April 10 — April 17 [intraday]:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:
| CODE | NAME | PRICE [intraday Friday] | 1 YEAR RETURN % | 1 WEEK RETURN % | MARKET CAP |
|---|---|---|---|---|---|
| PDI | PREDICTIVE DISCOVERY | 0.068 | 611 | 1180 | $ 30,370,854.00 |
| ARM | AURORA MINERALS | 0.015 | 69 | 167 | $ 3,045,465.50 |
| A1G | AFRICAN GOLD | 0.088 | -58 | 110 | $ 5,461,400.00 |
| CHN | CHALICE GOLD MINES | 1.005 | 673 | 78 | $ 283,660,512.00 |
| TNR | TORIAN RESOURCES | 0.013 | -7 | 63 | $ 4,435,836.00 |
| RML | RESOLUTION MINERALS | 0.13 | 107 | 60 | $ 20,278,536.00 |
| NVA | NOVA MINERALS | 0.048 | 213 | 57 | $ 41,014,600.00 |
| PUA | PURE ALUMINA | 0.014 | -59 | 56 | $ 3,104,651.50 |
| AYR | ALLOY RESOURCES | 0.015 | -50 | 50 | $ 3,883,016.00 |
| CDT | CASTLE MINERALS | 0.006 | -14 | 50 | $ 1,423,387.63 |
| DHR | DARK HORSE RESOURCES | 0.003 | -57 | 50 | $ 7,393,189.00 |
| AQI | ALICANTO MINERALS | 0.06 | 62 | 46 | $ 13,681,144.00 |
| TSC | TWENTY SEVEN CO | 0.007 | 75 | 40 | $ 8,917,925.00 |
| DTM | DART MINING | 0.05 | -58 | 39 | $ 3,157,955.25 |
| BRV | BIG RIVER GOLD | 0.027 | 35 | 35 | $ 34,267,128.00 |
| ANL | AMANI GOLD | 0.002 | 0 | 33 | $ 12,270,899.00 |
| CTO | CITIGOLD CORP | 0.004 | -20 | 33 | $ 9,684,693.00 |
| DEG | DE GREY MINING | 0.37 | 291 | 30 | $ 327,314,368.00 |
| GML | GATEWAY MINING | 0.013 | -7 | 30 | $ 17,415,008.00 |
| TSO | TESORO RESOURCES | 0.059 | 110 | 28 | $21,400,000.00 |
| AAJ | ARUMA RESOURCES | 0.0025 | -58 | 25 | $ 1,418,827.75 |
| ONX | ORMINEX | 0.045 | -73 | 25 | $ 19,407,678.00 |
| TMX | TERRAIN MINERALS | 0.005 | 67 | 25 | $ 2,892,644.00 |
| SAU | SOUTHERN GOLD | 0.135 | -6 | 23 | $ 14,851,182.00 |
| AAR | ANGLO AUSTRALIAN RESOURCES | 0.14 | 61 | 22 | $ 62,678,632.00 |
| HRZ | HORIZON MINERALS | 0.07 | -42 | 22 | $ 29,443,388.00 |
| MAT | MATSA RESOURCES | 0.11 | -21 | 21 | $ 24,960,910.00 |
| GOR | GOLD ROAD RESOURCES | 1.74 | 95 | 20 | $ 1,535,100,416.00 |
| RXL | ROX RESOURCES | 0.024 | 118 | 20 | $ 36,448,680.00 |
| TRY | TROY RESOURCES | 0.082 | -4 | 17 | $ 52,461,292.00 |
| OKR | OKAPI RESOURCES | 0.055 | -68 | 17 | $ 1,982,357.63 |
| AUC | AUSGOLD | 0.014 | -26 | 17 | $ 15,486,794.00 |
| FML | FOCUS MINERALS | 0.25 | -6 | 17 | $ 44,773,400.00 |
| HAW | HAWTHORN RESOURCES | 0.14 | 112 | 17 | $ 44,093,108.00 |
| VAN | VANGO MINING | 0.14 | -18 | 17 | $ 104,578,808.00 |
| SLR | SILVER LAKE RESOURCES | 1.8 | 139 | 17 | $ 1,566,122,496.00 |
| AOP | APOLLO CONSOLIDATED | 0.23 | -4 | 16 | $ 57,855,552.00 |
| MKG | MAKO GOLD | 0.044 | -59 | 16 | $ 4,474,023.50 |
| BNR | BULLETIN RESOURCES | 0.037 | 106 | 16 | $ 6,633,843.50 |
| TIE | TIETTO MINERALS | 0.26 | 41 | 16 | $ 96,772,696.00 |
| KWR | KINGWEST RESOURCES | 0.15 | -6 | 15 | $ 18,895,334.00 |
| ALK | ALKANE RESOURCES | 0.87 | 271 | 14 | $ 516,229,632.00 |
| NCM | NEWCREST MINING | 29.34 | 17 | 14 | $ 22,545,160,192.00 |
| BBX | BBX MINERALS | 0.12 | -64 | 14 | $ 45,473,088.00 |
| MML | MEDUSA MINING | 0.52 | 35 | 14 | $ 113,247,896.00 |
| WGX | WESTGOLD RESOURCES | 2.08 | 43 | 13 | $ 835,790,912.00 |
| EMR | EMERALD RESOURCES | 0.42 | 6 | 13 | $ 197,012,832.00 |
| BCN | BEACON MINERALS | 0.035 | 88 | 13 | $ 100,052,144.00 |
| GUL | GULLEWA | 0.045 | 50 | 13 | $ 6,980,539.50 |
| HMX | HAMMER METALS | 0.02 | -38 | 13 | $ 11,176,616.00 |
| MDI | MIDDLE ISLAND RESOURCES | 0.009 | 0 | 13 | $ 17,652,782.00 |
| NST | NORTHERN STAR RESOURCES | 13.05 | 46 | 12 | $ 9,635,435,520.00 |
| CAI | CALIDUS RESOURCES | 0.29 | 16 | 12 | $ 64,943,440.00 |
| SBM | ST BARBARA | 2.49 | -17 | 11 | $ 1,771,798,400.00 |
| RSG | RESOLUTE MINING | 0.9525 | -20 | 11 | $ 1,034,560,256.00 |
| WAF | WEST AFRICAN RESOURCES | 0.51 | 57 | 11 | $ 457,080,160.00 |
| DGO | DGO GOLD | 2.3 | 186 | 10 | $ 80,018,672.00 |
| BLK | BLACKHAM RESOURCES | 0.011 | -8 | 10 | $ 109,245,096.00 |
| OKU | OKLO RESOURCES | 0.29 | 53 | 10 | $ 118,078,288.00 |
| GMN | GOLD MOUNTAIN | 0.06 | -11 | 9 | $ 32,525,314.00 |
| GSN | GREAT SOUTHERN MINING | 0.051 | 34 | 9 | $ 14,360,385.00 |
| CWX | CARAWINE RESOURCES | 0.19 | 32 | 9 | $ 14,681,085.00 |
| BRB | BREAKER RESOURCES | 0.195 | -51 | 8 | $ 46,264,016.00 |
| SPX | SPECTRUM METALS | 0.13 | 420 | 8 | $ 187,266,976.00 |
| GBZ | GBM RESOURCES | 0.068 | 13 | 8 | $ 15,577,670.00 |
| GWR | GWR GROUP | 0.07 | -26 | 8 | $ 17,828,736.00 |
| MAU | MAGNETIC RESOURCES | 0.7 | 133 | 8 | $ 145,173,728.00 |
| TAM | TANAMI GOLD | 0.042 | 2 | 8 | $ 49,354,076.00 |
| EVN | EVOLUTION MINING | 4.84 | 46 | 7 | $ 8,419,758,080.00 |
| BDC | BARDOC GOLD | 0.065 | 44 | 7 | $ 92,117,192.00 |
| CMM | CAPRICORN METALS | 1.155 | 178 | 6 | $ 396,934,176.00 |
| TLM | TALISMAN MINING | 0.074 | -14 | 6 | $ 13,810,500.00 |
| SAR | SARACEN MINERAL HOLDINGS | 4.22 | 67 | 6 | $ 4,797,575,680.00 |
| VMC | VENUS METALS CORP | 0.19 | 17 | 6 | $ 27,949,556.00 |
| CXU | CAULDRON ENERGY | 0.02 | 0 | 5 | $ 7,149,507.00 |
| E2M | E2 METALS | 0.064 | -68 | 5 | $ 5,879,666.50 |
| KCN | KINGSGATE CONSOLIDATED | 0.44 | 69 | 5 | $ 104,063,936.00 |
| SVL | SILVER MINES | 0.088 | 125 | 5 | $ 79,157,984.00 |
| ARV | ARTEMIS RESOURCES | 0.024 | -59 | 5 | $ 24,715,668.00 |
| STN | SATURN METALS | 0.345 | 77 | 5 | $ 29,458,688.00 |
| RMS | RAMELIUS RESOURCES | 1.11 | 44 | 4 | $ 870,001,600.00 |
| BGL | BELLEVUE GOLD | 0.52 | -4 | 4 | $ 378,538,720.00 |
| MOH | MOHO RESOURCES | 0.083 | -17 | 4 | $ 3,925,249.00 |
| AME | ALTO METALS | 0.06 | 55 | 3 | $ 17,895,800.00 |
| ADN | ANDROMEDA METALS | 0.035 | 450 | 3 | $ 48,572,852.00 |
| MEU | MARMOTA | 0.037 | 131 | 3 | $ 31,279,510.00 |
| PRU | PERSEUS MINING | 1 | 127 | 3 | $ 1,214,777,728.00 |
| AMG | AUSMEX MINING GROUP | 0.044 | -65 | 2 | $ 23,476,344.00 |
| RRL | REGIS RESOURCES | 4.04 | -17 | 2 | $ 2,083,539,840.00 |
| TBR | TRIBUNE RESOURCES | 5.85 | 42 | 1 | $ 314,702,144.00 |
| BC8 | BLACK CAT SYNDICATE | 0.385 | 120 | 1 | $ 33,671,848.00 |
| GSM | GOLDEN STATE MINING | 0.1 | 2 | 1 | $ 3,259,731.75 |
| ALY | ALCHEMY RESOURCES | 0.011 | -18 | 0 | $ 6,055,768.00 |
| ARS | ALT RESOURCES | 0.021 | -23 | 0 | $ 12,148,383.00 |
| AVW | AVIRA RESOURCES | 0.001 | -67 | 0 | $ 2,250,000.00 |
| BSR | BASSARI RESOURCES | 0.013 | -24 | 0 | $ 31,040,814.00 |
| BYH | BRYAH RESOURCES | 0.026 | -60 | 0 | $ 2,622,719.75 |
| CGN | CRATER GOLD MINING | 0.011 | -21 | 0 | $ 13,502,455.00 |
| DAU | DAMPIER GOLD | 0.022 | -4 | 0 | $ 5,235,692.00 |
| DTR | DATELINE RESOURCES | 0.002 | -20 | 0 | $ 16,420,156.00 |
| DGR | DGR GLOBAL | 0.07 | -54 | 0 | $ 38,017,276.00 |
| GMR | GOLDEN RIM RESOURCES | 0.006 | -54 | 0 | $ 7,352,446.00 |
| GBR | GREAT BOULDER RESOURCES | 0.028 | -69 | 0 | $ 3,736,711.75 |
| GNM | GREAT NORTHERN MINERALS | 0.006 | -76 | 0 | $ 2,168,349.00 |
| KGM | KALNORTH GOLD MINES | 0.003 | -25 | 0 | $ 2,682,720.25 |
| KRM | KINGSROSE MINING | 0.029 | -36 | 0 | $ 21,170,214.00 |
| LNY | LANEWAY RESOURCES | 0.004 | -69 | 0 | $ 16,740,297.00 |
| MSR | MANAS RESOUCES | 0.002 | -50 | 0 | $ 5,286,325.00 |
| MLS | METALS AUSTRALIA | 0.001 | -50 | 0 | $ 3,207,352.75 |
| MTH | MITHRIL RESOURCES | 0.005 | -17 | 0 | $ 3,432,724.50 |
| NXM | NEXUS MINERALS | 0.04 | -32 | 0 | $ 4,729,622.50 |
| OAU | ORA GOLD | 0.013 | 63 | 0 | $ 8,399,702.00 |
| PGI | PANTERRA GOLD | 0.022 | 16 | 0 | $ 4,293,116.50 |
| RED | RED 5 | 0.235 | 76 | 0 | $ 328,469,376.00 |
| RGL | RIVERSGOLD | 0.008 | -67 | 0 | $ 1,978,029.75 |
| SFM | SANTA FE MINERALS | 0.05 | -39 | 0 | $ 3,640,939.50 |
| SMI | SANTANA MINERALS | 0.003 | -25 | 0 | $ 8,051,836.50 |
| SIH | SIHAYO GOLD | 0.013 | -7 | 0 | $ 27,271,010.00 |
| TAR | TARUGA MINERALS | 0.009 | -75 | 0 | $ 2,920,813.50 |
| TTM | TITAN MINERALS | 0.067 | -71 | 0 | $ 51,087,356.00 |
| VKA | VIKING MINES | 0.005 | -44 | 0 | $ 1,568,589.25 |
| WWI | WEST WITS MINING | 0.01 | 11 | 0 | $ 10,312,841.00 |
| MLL | MALI LITHIUM | 0.043 | -72 | -2 | $ 14,280,665.00 |
| NWM | NORWEST MINERALS | 0.165 | 21 | -3 | $ 13,833,630.00 |
| RND | RAND MINING | 1.715 | -23 | -3 | $ 103,154,632.00 |
| HRN | HORIZON GOLD | 0.19 | 23 | -5 | $ 15,306,123.00 |
| CDV | CARDINAL RESOURCES | 0.36 | -14 | -5 | $ 190,009,312.00 |
| CYL | CATALYST METALS | 2.1 | 2 | -5 | $ 182,103,216.00 |
| PRX | PRODIGY GOLD NL | 0.033 | -62 | -6 | $ 20,902,594.00 |
| NUS | NUSANTARA RESOURCES | 0.235 | 27 | -6 | $ 43,205,828.00 |
| NAG | NAGAMBIE RESOURCES | 0.04 | -33 | -7 | $ 21,497,090.00 |
| NES | NELSON RESOURCES | 0.035 | -59 | -8 | $ 1,954,405.25 |
| ARL | ARDEA RESOURCES | 0.28 | -28 | -8 | $ 32,257,620.00 |
| AWV | ANOVA METALS | 0.008 | -30 | -9 | $ 6,891,323.00 |
| LEX | LEFROY EXPLORATION | 0.15 | -21 | -12 | $ 16,077,879.00 |
| BAR | BARRA RESOURCES | 0.014 | -53 | -13 | $ 8,351,220.50 |
| GED | GOLDEN DEEPS | 0.007 | -80 | -13 | $ 1,964,259.88 |
| ERM | EMMERSON RESOURCES | 0.07 | -13 | -13 | $ 29,739,772.00 |
| SLZ | SULTAN RESOURCES | 0.07 | 18 | -13 | $ 3,095,644.50 |
| AGS | ALLIANCE RESOURCES | 0.09 | -1 | -14 | $ 13,863,450.00 |
| CY5 | CYGNUS GOLD | 0.035 | -17 | -15 | $ 2,798,294.25 |
| KTA | KRAKATOA RESOURCES | 0.036 | 44 | -23 | $ 8,750,000.00 |
| DCN | DACIAN GOLD | 0.365 | -73 | -57 | $ 114,213,640.00 |
At the junior end, investors continue to reward solid stories and exceptional discoveries.
This week Predictive Discovery (ASX:PDI) rocketed +1000% from ~$3m to +$30m on the back of a brand new discovery at the North-East Bankan prospect in Guinea.
The long time prospect generator hit numerous shallow, thick, and high-grade gold intercepts like 10m at 26.52 grams per tonne (g/t) gold across a “very broad zone” at least 450m long.
“Many of the holes either started or stopped in gold mineralisation, which is therefore open both at depth and to the east and west on most drill lines,” Predictive managing director Paul Roberts says.
“The mineralisation is also open to the north and south so there is plenty of scope to grow this further with more drilling.”
READ: If exploration is like gambling, then Predictive Discovery is increasing the odds of a big win
Pilbara explorer De Grey (ASX:DEG) — one of 2020s biggest success stories — is also up another 30 per cent this week and now has a market cap above $320m.
Resolution Minerals (ASX:RML), turned heads late last year with the acquisition of the 64North project next door to Northern Star’s (ASX:NST) 10-million-ounce Pogo gold mine in Alaska.
The explorer received a speeding ticket this week from the ASX after the share price jumped substantially — about 60 per cent for the week — for no apparent reason.
Resolution pointed to a March 31 announcement which indicates that maiden drilling has hit a “Pogo-style system”.
“Further, RML advised that assay results from this drilling program were expected approximately four weeks from that time – due in approximately two weeks’ time from today,” the company said.
“Additionally, the gold price has reached a seven year high in US dollar terms and may be contributing to interest in RML’s projects.”
Also in Alaska is explorer Nova Minerals (ASX:NVA), which is up 213 per cent over the past 12 months and continues to surge.
A new drilling campaign aims to add substantially to the Estelle project’s existing 2.5 million-ounce resource, which the former lithium explorer believes is just the beginning.
“Like I have said many times in the past, not all that many opportunities come around to drill a system this large such as what we have at Estelle, with an established 2.5-million-ounce inferred gold resource on a small area, open significantly in all directions — and this is one of 15 known targets,” Nova chairman Avi Kimelman says.
Beleaguered producer Dacian Gold (ASX:DCN) was hammered on its return to trading after announcing a $98m cap raise at a massive discount to the current share price.
The WA miner, which fired up the brand-new Mt Morgans Gold Operation (MMGO) near Laverton in January last year, has been struggling with high production costs and a smaller than expected resource size.
The stock is now down +70 per cent over the past 12 months.
