Gold Digger: Fed and USD flatten gold, but Ray Dalio predicts money printing bonanza

Mining Rob Badman
ray dalio gold

Pic via Getty Images

  • Largely thanks to Fed hawkishness, gold’s price is going nowhere but sideways and slightly down just at the moment 
  • That said, many an economist, and the odd legendary investor, is still crystal balling looming recession and a money-printing bonanza

 

Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.

 

The Fed hasn’t done gold any favours this week. That said the price hasn’t exactly fallen off the cliff, either.

A pause on hiking again this month but the hawkish “higher for longer” interest rates rhetoric from Jerome Powell and pals may as well refer to the US dollar, which, for now is showing strength.

Meanwhile, the price of gold has taken the lower road, dipping a bit since the Fed meeting, currently trading for US$1,923 per ounce. The Australian gold price is about $2,996.

The simplisitc take for gold is that a stronger US dollar tends to keep the precious metal’s price lower, whereas a weaker Greenback tends to push the safe-haven asset higher.

Gold, however, shiny old devil that it is, doesn’t mind a bit of economic pain, and it feeds off the money printing and high inflation that tends to sooner or later come with it.

The Fed is aiming for a contained, controlled “soft landing” for the US economy, obviously looking to avoid recession and keep the buck in a position of strength. It’s indicating it thinks it’s … possible it could achieve that… At least that’s what we think Powell is saying here…

If the Fed really does think it’s half a chance to achieve a soft landing, who then thinks it’s completely deluded? Plenty of economists and observers it seems – for example US-based analyst Sven “Northman Trader” Henrich, among others…

But for his take on the US economy this week, one other prominent voice in particular stands out. And that’s…

 

Ray Dalio

The renowned US billionaire investor Ray Dalio indicated this week that America is a strong chance to soon once again switch on its money printers as the country takes on even greater debt (which, by the way, currently stands at more than US$33 trillion dollars).

The 74-year-old Dalio, of Bridgewater Associates hedge fund fame, was speaking at the All-In Summit earlier this week in the US, hosted by a popular economics and tech podcast group called All-In.

Dalio believes that a recession is very likely looming, which he says would see the Fed and US government bring back quantitative easing.

“What happens is debt rise is relative to incomes,” said Dalio.

“What that means, mechanistically, is that debt service payments rise relative to incomes, and so it squeezes out consumption as the debt compounds. And what happens is there’s a realisation that they have to print money.

“I think you’re going to see in the next downturn another move to print money.”

Printing money debases the value of the currency, as more supply floods the market. This then leads to a decline in the value of US bonds, Dalio explained. And the billionaire believes there’s a “big risk” around this at the moment for the US.

“The big risk comes when they [bond holders] don’t want to hold those bonds anymore because of the supply-demand… because [when a country] has a deficit, it has to borrow, and so it sells its bonds.”

The upshot? If Dalio is correct, even if a mild recession plays out, it looms as the perfect setup for a safe-haven run on the price of gold.

 

Winners & Losers

Here’s a broad look at 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]

 

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % YTD RETURN % 12 MONTH RETURN % PRICE MARKET CAP
MRR Minrex Resources Ltd -7% 0% -72% -56% 0.014 $15,188,145
NPM Newpeak Metals 0% 0% 0% 0% 0.001 $9,995,579
ASO Aston Minerals Ltd -10% -23% -57% -54% 0.037 $47,192,795
MTC Metalstech Ltd -23% -25% -63% -71% 0.15 $28,290,689
FFX Firefinch Ltd 0% 0% 0% 0% 0.2 $236,569,315
GED Golden Deeps -6% -18% -61% -39% 0.055 $6,353,729
G88 Golden Mile Res Ltd -18% -16% 0% 52% 0.031 $10,869,854
DCX Discovex Res Ltd 25% 25% -50% -17% 0.0025 $8,256,420
NMR Native Mineral Res 18% 12% -71% -57% 0.047 $9,673,710
AQX Alice Queen Ltd 8% -7% -78% -68% 0.013 $1,644,693
SLZ Sultan Resources Ltd -11% -14% -76% -72% 0.024 $3,556,561
MKG Mako Gold -20% -30% -69% -60% 0.016 $11,520,164
KSN Kingston Resources 2% 6% -5% 2% 0.083 $41,330,832
AMI Aurelia Metals Ltd -10% 16% -55% -20% 0.095 $161,783,348
PNX PNX Metals Limited -17% 0% -33% -41% 0.0025 $13,451,562
GIB Gibb River Diamonds -10% -21% -50% -55% 0.027 $5,710,755
KCN Kingsgate Consolid. 4% 3% -19% -29% 1.22 $309,302,030
TMX Terrain Minerals 11% -9% -38% -17% 0.005 $6,288,219
BNR Bulletin Res Ltd 23% 35% -43% -20% 0.074 $22,312,924
NXM Nexus Minerals Ltd 2% -19% -74% -73% 0.053 $17,249,025
SKY SKY Metals Ltd -12% 18% -13% -6% 0.045 $20,455,056
LM8 Lunnonmetalslimited 3% -6% -9% -8% 0.82 $157,446,385
CST Castile Resources -7% 0% -51% -41% 0.056 $13,546,536
YRL Yandal Resources 2% 2% -67% -48% 0.051 $8,047,957
FAU First Au Ltd 0% 20% -50% -25% 0.003 $4,355,980
ARL Ardea Resources Ltd -3% -21% -34% -16% 0.595 $115,823,839
GWR GWR Group Ltd 2% 9% 14% 61% 0.095 $30,515,582
IVR Investigator Res Ltd 13% 2% -12% 5% 0.044 $60,361,141
GTR Gti Energy Ltd 6% 6% -57% -21% 0.0085 $17,382,050
IPT Impact Minerals 0% -8% 71% 71% 0.012 $37,241,151
BNZ Benzmining -11% 14% -14% 10% 0.45 $51,047,798
MOH Moho Resources 0% -11% -74% -62% 0.008 $2,176,284
BBX BBX Minerals Ltd -6% -11% -52% -69% 0.033 $17,602,976
PUA Peak Minerals Ltd 20% 0% -67% -50% 0.003 $3,124,130
MRZ Mont Royal Resources -7% -9% -13% 14% 0.2 $16,458,987
SMS Starmineralslimited 0% -7% -55% -44% 0.04 $1,450,112
MVL Marvel Gold Limited 9% 0% -57% -54% 0.012 $10,365,488
PRX Prodigy Gold NL 50% 80% -18% -25% 0.009 $14,008,863
AAU Antilles Gold Ltd 4% -14% -51% -20% 0.024 $16,336,290
CWX Carawine Resources 18% -4% 35% 30% 0.13 $25,586,271
RND Rand Mining Ltd -5% 0% -13% -4% 1.3 $73,938,749
CAZ Cazaly Resources -3% -11% 5% 15% 0.039 $16,195,123
BMR Ballymore Resources -8% -27% -50% -27% 0.11 $16,081,699
DRE Dreadnought Resources Ltd -3% 17% -54% -50% 0.0525 $181,403,724
ZNC Zenith Minerals Ltd -10% 32% -69% -65% 0.094 $33,476,184
REZ Resourc & En Grp Ltd 7% 7% -24% 0% 0.016 $7,996,893
LEX Lefroy Exploration -12% -8% -44% -29% 0.185 $32,091,600
ERM Emmerson Resources -3% -3% -18% -12% 0.066 $34,316,717
AM7 Arcadia Minerals 2% -9% -68% -51% 0.1 $11,521,136
ADT Adriatic Metals -4% -11% 59% 10% 3.46 $847,964,784
GMR Golden Rim Resources -14% -11% -44% -19% 0.025 $14,789,709
CYL Catalyst Metals -4% -21% -61% -60% 0.47 $103,441,146
CHN Chalice Mining Ltd -9% -49% -37% -60% 2.525 $987,966,792
KAL Kalgoorliegoldmining 20% 3% -78% -64% 0.03 $4,453,022
MLS Metals Australia -3% 13% -29% -24% 0.034 $21,841,267
ADN Andromeda Metals Ltd -8% -15% -53% -50% 0.022 $68,420,186
MEI Meteoric Resources 15% 24% 1550% 367% 0.2475 $456,054,425
SRN Surefire Rescs NL 3% -3% 11% 29% 0.0155 $26,421,816
SIH Sihayo Gold Limited 0% 100% -20% 0% 0.002 $24,408,512
WA8 Warriedarresourltd 1% -11% -49% -55% 0.076 $37,003,713
HMX Hammer Metals Ltd -9% -7% 4% -26% 0.05 $46,979,589
WCN White Cliff Min Ltd 50% 71% -43% -14% 0.012 $12,570,186
AVM Advance Metals Ltd 0% 0% -50% -40% 0.006 $3,531,352
WRM White Rock Min Ltd 0% 0% -25% -5% 0.063 $17,508,200
ASR Asra Minerals Ltd 0% 0% -70% -60% 0.008 $11,523,097
MCT Metalicity Limited 0% 33% -50% -33% 0.002 $7,472,172
AME Alto Metals Limited -2% -6% -33% -30% 0.047 $33,567,404
CTO Citigold Corp Ltd 0% 13% -25% -25% 0.0045 $12,931,466
TIE Tietto Minerals 7% -26% -24% -48% 0.365 $391,509,896
SMI Santana Minerals Ltd -4% -5% -18% -13% 0.57 $106,014,719
M2R Miramar 4% -2% -50% -34% 0.05 $6,996,869
MHC Manhattan Corp Ltd 0% -20% 0% 45% 0.008 $20,558,858
GRL Godolphin Resources -8% -10% -57% -56% 0.036 $6,431,197
TRY Troy Resources Ltd -100% -100% -100% -100% 0 $62,920,961
SVG Savannah Goldfields 0% 0% -75% -63% 0.07 $14,030,816
EMC Everest Metals Corp 0% -18% 15% 46% 0.115 $15,327,558
GUL Gullewa Limited 0% 0% -8% -8% 0.055 $10,767,521
CY5 Cygnus Metals Ltd -5% -20% -26% -51% 0.185 $51,297,866
G50 Gold50Limited -23% -20% -14% -52% 0.12 $13,375,089
ADV Ardiden Ltd 10% -21% -31% -21% 0.0055 $14,785,844
AAR Astral Resources NL 28% 38% 14% 26% 0.091 $64,772,679
MGV Musgrave Minerals 15% 22% 66% 86% 0.39 $227,615,060
VMC Venus Metals Cor Ltd 30% 4% 36% 66% 0.13 $24,664,729
NAE New Age Exploration -22% 56% -22% 0% 0.007 $10,051,292
VKA Viking Mines Ltd 10% 0% 22% 10% 0.011 $11,277,843
LCL LCL Resources Ltd -8% -10% -5% -51% 0.028 $22,240,525
MTH Mithril Resources 0% 0% -60% -43% 0.002 $3,368,804
ADG Adelong Gold Limited 6% 6% -5% 36% 0.0095 $5,366,901
RMX Red Mount Min Ltd 0% 0% -33% -20% 0.004 $10,694,304
PRS Prospech Limited -11% -17% -24% -11% 0.024 $5,493,999
XTC Xantippe Res Ltd 0% 0% -81% -67% 0.001 $17,528,005
TTM Titan Minerals -5% -30% -42% -45% 0.037 $57,534,608
NML Navarre Minerals Ltd 0% 0% -60% -54% 0.019 $28,555,654
MZZ Matador Mining Ltd -12% -12% -54% -56% 0.051 $17,979,740
KZR Kalamazoo Resources -13% -26% -57% -52% 0.1 $17,806,294
BCN Beacon Minerals 0% 0% 4% -11% 0.025 $90,162,436
MAU Magnetic Resources -1% 0% -17% -8% 0.79 $191,932,768
BC8 Black Cat Syndicate 7% -13% -26% -31% 0.245 $75,185,780
EM2 Eagle Mountain -14% -25% -71% -56% 0.075 $23,787,415
EMR Emerald Res NL 5% 16% 130% 118% 2.58 $1,592,943,186
BYH Bryah Resources Ltd -6% -6% -39% -34% 0.017 $6,096,290
HCH Hot Chili Ltd -8% -5% 16% 43% 1.255 $150,500,960
WAF West African Res Ltd 0% -0% -25% -31% 0.8075 $836,282,158
MEU Marmota Limited 0% 7% -34% -35% 0.031 $32,822,818
NVA Nova Minerals Ltd -6% -20% -68% -65% 0.24 $51,668,040
DCN Dacian Gold Ltd -5% 0% 22% 5% 0.105 $133,848,103
SVL Silver Mines Limited 9% 9% 6% -8% 0.185 $252,779,786
PGD Peregrine Gold 0% 20% -49% -22% 0.3 $16,853,283
ICL Iceni Gold -1% -10% -14% 3% 0.082 $21,587,143
FG1 Flynngold -9% -17% -49% -42% 0.058 $7,773,807
WWI West Wits Mining Ltd -3% -3% -9% -9% 0.0145 $33,658,861
RML Resolution Minerals 20% 20% -40% -25% 0.006 $6,286,459
AAJ Aruma Resources Ltd -6% -16% -50% -40% 0.032 $6,694,311
AL8 Alderan Resource Ltd 38% 57% 10% 57% 0.011 $7,400,336
GMN Gold Mountain Ltd 8% -30% -13% 0% 0.007 $15,883,550
MEG Megado Minerals Ltd 10% -23% -45% -2% 0.044 $11,959,411
HMG Hamelingoldlimited -3% -3% -40% -40% 0.087 $13,702,500
TBA Tombola Gold Ltd 0% 0% -28% 0% 0.026 $33,129,243
BM8 Battery Age Minerals -18% -35% -46% -46% 0.27 $23,999,460
TBR Tribune Res Ltd 1% -7% -6% -18% 3.3 $173,144,654
FML Focus Minerals Ltd 6% 0% 38% -29% 0.18 $48,714,970
GSR Greenstone Resources 0% -23% -85% -69% 0.01 $13,409,548
VRC Volt Resources Ltd 0% -20% -72% -47% 0.008 $31,515,391
ARV Artemis Resources -8% 50% -31% 32% 0.033 $53,547,225
HRN Horizon Gold Ltd -1% 0% -7% 6% 0.33 $41,309,942
CLA Celsius Resource Ltd -4% -8% -15% -31% 0.011 $25,829,594
QML Qmines Limited -6% -24% -27% -40% 0.099 $20,712,460
RDN Raiden Resources Ltd 19% 208% 387% 679% 0.037 $80,127,594
TCG Turaco Gold Limited 9% 15% 13% 3% 0.06 $30,163,000
KCC Kincora Copper -20% -19% -48% -52% 0.035 $6,254,783
GBZ GBM Rsources Ltd -6% -16% -61% -63% 0.016 $10,545,471
DTM Dart Mining NL -4% -19% -71% -53% 0.026 $4,498,318
MKR Manuka Resources. 0% -9% -66% -41% 0.05 $28,688,523
AUC Ausgold Limited 14% 0% -23% -30% 0.033 $75,772,660
ANX Anax Metals Ltd -6% -6% -32% -13% 0.046 $19,775,580
EMU EMU NL 50% 50% -46% -39% 0.003 $4,350,064
SFM Santa Fe Minerals -2% -2% -49% -46% 0.043 $3,131,208
SSR SSR Mining Inc. -0% 3% 9% -1% 22.71 $481,237,019
PNR Pantoro Limited -9% -20% -76% -55% 0.043 $234,181,373
CMM Capricorn Metals 0% 7% 50% -7% 4.27 $1,624,139,316
X64 Ten Sixty Four Ltd 0% 0% -7% -11% 0.57 $130,184,182
SI6 SI6 Metals Limited 0% 60% 14% 33% 0.008 $15,950,875
HAW Hawthorn Resources -4% 4% 25% 4% 0.12 $40,201,874
BGD Bartongoldholdings -21% -20% 16% -10% 0.18 $40,033,697
SVY Stavely Minerals Ltd 3% -13% -55% -70% 0.074 $28,309,711
AGC AGC Ltd 12% 18% -10% 10% 0.066 $7,000,000
RVR Red River Resources -100% -100% -100% -100% 0 $37,847,908
RGL Riversgold 9% -8% -70% -60% 0.012 $11,415,137
TSO Tesoro Gold Ltd 2% -5% -41% -42% 0.021 $22,125,864
OKR Okapi Resources 38% 58% -48% -3% 0.145 $31,512,902
CPM Coopermetalslimited -4% 13% -64% -43% 0.135 $7,184,383
MM8 Medallion Metals. 0% -6% -60% -56% 0.066 $20,296,865
AUT Auteco Minerals 21% 9% -15% -31% 0.035 $93,092,838
CBY Canterbury Resources 0% -4% -23% -34% 0.027 $3,902,135
LYN Lycaonresources -2% -13% -22% 0% 0.275 $11,619,938
SFR Sandfire Resources -3% 2% 58% 13% 6.155 $2,782,471,842
NCM Newcrest Mining 3% 8% 59% 29% 26.69 $23,974,325,925
TMZ Thomson Res Ltd 0% 0% -78% -74% 0.005 $4,881,018
TAM Tanami Gold NL 5% 8% -2% 3% 0.04 $47,003,882
WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031
NWM Norwest Minerals -19% -40% -33% -46% 0.029 $9,202,224
ALK Alkane Resources Ltd -6% -4% -17% 12% 0.6 $363,952,288
BMO Bastion Minerals -13% 0% -77% -38% 0.021 $4,213,761
IDA Indiana Resources 7% 0% -6% 11% 0.061 $33,211,916
GSM Golden State Mining -1% 31% -12% -6% 0.0405 $7,643,531
NSM Northstaw -3% -52% -77% -77% 0.035 $4,204,445
GSN Great Southern -8% 16% -35% -24% 0.022 $15,733,820
RED Red 5 Limited 18% 24% 16% 27% 0.26 $917,480,151
DEG De Grey Mining -8% -8% 20% -4% 1.23 $1,928,821,172
THR Thor Energy PLC 15% -10% -55% -25% 0.045 $6,391,506
CDR Codrus Minerals Ltd 18% 2% 23% -29% 0.092 $6,972,680
MDI Middle Island Res -8% 0% -66% -42% 0.022 $3,094,481
BAT Battery Minerals Ltd -10% -55% -76% -70% 0.036 $4,425,366
POL Polymetals Resources 15% 21% 119% 43% 0.35 $52,033,878
RDS Redstone Resources 40% 17% -13% -13% 0.007 $6,099,649
NAG Nagambie Resources -8% -35% -71% -64% 0.024 $13,961,432
BGL Bellevue Gold Ltd 2% 1% 97% 30% 1.47 $1,711,987,199
GBR Greatbould Resources -2% -9% -40% -34% 0.06 $31,329,193
KAI Kairos Minerals Ltd 0% -8% -33% 10% 0.023 $57,660,068
KAU Kaiser Reef 3% -10% 0% 6% 0.175 $27,357,287
HRZ Horizon 9% 9% -49% -39% 0.037 $25,788,396
CAI Calidus Resources -6% -6% -71% -41% 0.16 $100,300,177
CDT Castle Minerals 0% -9% -67% -52% 0.01 $12,369,423
RSG Resolute Mining -2% 9% 74% 71% 0.3425 $745,152,299
MXR Maximus Resources -7% -16% -48% -35% 0.026 $8,326,650
EVN Evolution Mining Ltd -7% 5% 75% 18% 3.51 $6,540,374,570
CXU Cauldron Energy Ltd -9% 67% -26% 43% 0.01 $8,564,118
DLI Delta Lithium -1% -7% 30% 66% 0.79 $420,800,348
ALY Alchemy Resource Ltd 8% 0% -38% -43% 0.013 $14,136,915
HXG Hexagon Energy 11% 0% -41% -41% 0.01 $4,616,243
OBM Ora Banda Mining Ltd 7% 11% 70% 15% 0.097 $170,205,227
SLR Silver Lake Resource -5% 7% -21% -25% 0.89 $841,269,900
AVW Avira Resources Ltd 100% 33% -50% -33% 0.002 $4,267,580
LCY Legacy Iron Ore 0% -11% -20% -16% 0.016 $102,509,219
PDI Predictive Disc Ltd -4% 8% 23% 19% 0.215 $465,354,920
MAT Matsa Resources 0% -26% -30% -24% 0.028 $13,794,547
ZAG Zuleika Gold Ltd -14% 0% -37% -43% 0.012 $6,276,608
GML Gateway Mining -23% -25% -67% -50% 0.03 $7,990,006
SBM St Barbara Limited 3% -5% -45% -44% 0.19 $163,594,076
SBR Sabre Resources -6% 29% -27% 16% 0.044 $12,825,392
STK Strickland Metals 18% 33% 20% 33% 0.053 $83,212,532
SAU Southern Gold 15% -12% -57% -40% 0.015 $6,807,994
CEL Challenger Gold Ltd -3% 8% -53% -51% 0.085 $102,500,415
LRL Labyrinth Resources 17% 17% -71% -57% 0.007 $8,312,806
NST Northern Star -4% 6% 44% -1% 10.84 $12,472,961,511
OZM Ozaurum Resources 377% 281% 45% 131% 0.1525 $17,780,000
TG1 Techgen Metals Ltd -3% -30% -81% -57% 0.035 $2,700,890
XAM Xanadu Mines Ltd -2% -6% 175% 203% 0.088 $145,766,353
CHZ Chesser Resources 0% 0% 33% 24% 0.105 $65,818,414
AQI Alicanto Min Ltd 11% 5% -13% -2% 0.042 $25,739,146
KTA Krakatoa Resources -5% -26% -69% -55% 0.02 $9,806,661
ARN Aldoro Resources -8% -46% -50% -31% 0.11 $14,808,612
WGX Westgold Resources. -5% 21% 114% 98% 1.73 $852,520,914
MBK Metal Bank Ltd 0% -9% -9% 7% 0.036 $11,174,938
A8G Australasian Metals 3% -6% -49% -21% 0.15 $7,818,074
TAR Taruga Minerals 10% -8% -66% -54% 0.011 $7,766,295
DTR Dateline Resources -24% -38% -86% -65% 0.013 $11,510,757
GOR Gold Road Res Ltd -1% 10% 31% -2% 1.6625 $1,806,355,830
S2R S2 Resources 0% 0% 18% -3% 0.165 $69,715,559
NES Nelson Resources. 0% -14% -52% -14% 0.006 $3,681,566
TLM Talisman Mining 0% -10% 0% 0% 0.14 $26,364,849
BEZ Besragoldinc 14% -13% 318% 217% 0.165 $60,220,545
PRU Perseus Mining Ltd -4% 2% 17% -20% 1.6875 $2,340,664,741
SPQ Superior Resources -4% -27% -49% -52% 0.027 $49,532,951
PUR Pursuit Minerals 0% -17% -33% -38% 0.01 $30,911,700
RMS Ramelius Resources 14% 21% 125% 59% 1.4825 $1,635,611,116
PKO Peako Limited 0% -14% -74% -59% 0.006 $2,824,389
ICG Inca Minerals Ltd -29% -25% -57% -35% 0.015 $7,365,150
A1G African Gold Ltd. -2% -15% -39% -51% 0.041 $7,111,071
OAU Ora Gold Limited 13% 42% 51% 70% 0.0085 $38,093,670
GNM Great Northern -4% -17% -60% -60% 0.024 $3,711,098
KRM Kingsrose Mining Ltd -14% -26% -4% -25% 0.049 $37,626,326
BTR Brightstar Resources 0% 0% -25% -29% 0.012 $22,608,183
RRL Regis Resources -4% 2% 4% -25% 1.555 $1,208,542,093
M24 Mamba Exploration 12% 4% -61% -61% 0.057 $3,476,050
TRM Truscott Mining Corp 19% 24% 28% 24% 0.051 $8,321,619
TNC True North Copper -5% -14% 260% 240% 0.18 $46,771,461
MOM Moab Minerals Ltd -13% 5% -38% 17% 0.0105 $7,501,598
KNB Koonenberrygold 0% 3% -54% -34% 0.041 $3,106,014
AWJ Auric Mining -10% -5% -51% -41% 0.038 $4,841,805
AZS Azure Minerals -3% -4% 1215% 1069% 2.63 $1,121,271,823
ENR Encounter Resources -11% -32% 93% 56% 0.28 $112,724,848
SNG Siren Gold -9% -35% -64% -61% 0.072 $10,649,771
STN Saturn Metals -3% 3% -39% -11% 0.16 $25,846,177
USL Unico Silver Limited 2% -4% -34% -44% 0.096 $28,420,953
PNM Pacific Nickel Mines -12% 2% -9% 4% 0.086 $35,525,204
AYM Australia United Min 0% 0% -50% 0% 0.003 $5,527,732
ANL Amani Gold Ltd 0% 0% -33% 0% 0.001 $25,143,441
HAV Havilah Resources -2% -16% -27% -29% 0.235 $74,410,214
SPR Spartan Resources -4% 33% 69% 130% 0.385 $346,659,913
PNT Panthermetalsltd -11% 5% -64% -64% 0.068 $4,158,200
MEK Meeka Metals Limited -10% -12% -32% -34% 0.045 $55,110,447
GMD Genesis Minerals -6% 4% 60% 23% 1.5425 $1,587,818,415
PGO Pacgold -9% -11% -60% -44% 0.2 $14,070,119
FEG Far East Gold -6% -37% -76% -65% 0.17 $30,703,056
MI6 Minerals260Limited -10% 3% 80% 43% 0.485 $114,660,000
IGO IGO Limited -7% -2% -17% -9% 12.265 $9,178,085,894
GAL Galileo Mining Ltd 3% -32% -74% -65% 0.31 $60,275,603
RXL Rox Resources 13% -2% -21% 26% 0.22 $77,406,893
KIN KIN Min NL 0% 0% -45% -38% 0.04 $45,947,871
CLZ Classic Min Ltd 0% 0% -94% -89% 0.001 $12,046,242
TGM Theta Gold Mines Ltd 12% 21% 110% 113% 0.145 $101,510,876
FAL Falconmetalsltd -9% -33% -36% -54% 0.1275 $22,125,000
SXG Southern Cross Gold 3% 68% 170% -6% 0.755 $71,143,942
SPD Southernpalladium 2% 78% -54% -40% 0.49 $21,108,380
ORN Orion Minerals Ltd 0% 0% 12% 19% 0.019 $108,047,326
TMB Tambourahmetals -20% -10% 13% 71% 0.18 $14,929,264
TMS Tennant Minerals Ltd -9% 0% -9% 0% 0.031 $24,301,869
AZY Antipa Minerals Ltd 0% -25% -54% -43% 0.012 $47,780,003
PXX Polarx Limited 11% 11% -9% -50% 0.01 $15,596,168
TRE Toubaniresourcesinc 0% -10% 0% -19% 0.13 $15,278,750
AUN Aurumin 40% 40% -72% -54% 0.028 $7,759,520
GPR Geopacific Resources 0% 20% -74% -44% 0.018 $13,960,249
MRR Minrex Resources Ltd -7% 0% -72% -56% 0.014 $15,188,145
NPM Newpeak Metals 0% 0% 0% 0% 0.001 $9,995,579
WordPress Table

 

At a glance, what’s hot

The week’s biggest golden gainers 

OzAurum Resources (ASX:OZM): +377% (at table-creation time, but +290% at ASX closing bell)

Prodigy Gold (ASX:PRX): +50%

White Cliff Minerals (ASX:WCN): +50%

 

At another glance, what’s not

The week’s biggest falls

Inca Minerals (ASX:ICG): -29%

Dateline Resources (ASX:DTR) : -24%

MetalsTech (ASX:MTC): -23%

 

The out and out goldie winner this week – as it was last week – has been…

OzAurum Resources (ASX:OZM)

And that’s despite reporting a net loss of $2,923,933 for the year ended 30 June 2023 (30 June 2022: $4,893,835) – as noted in the company’s annual report to shareholders, released late yesterday, sneaking in just before the ASX closing bell.

Last Friday this $19m market capped explorer broke news of its diversification into lithium with the acquisition of the Linopolis Jaime project in the State of Minas Gerais, Brazil, where it appears to be onto some particularly juicy-looking spodumene.

And just a couple of days ago, it kept the good vibes rolling, raising $2.4 million in a share placement to pro and sophisticated investors through the issue of 31,750,000 shares in OZM at a price of $0.075 per share.

A good deal of those funds will be funnelled into its Brazilian lithium operations, including a geological mapping and geochemistry activities, diamond drilling and assessment of further potential lithium project acquisitions in Brazil.

Funding will also be funnelled into the company’s scoping study at the Mulgabbie North gold project in WA.

Recently joining OzAurum in the ASX-housed Brazilian lithium race, by the way, are two other gold stock minnows – Alderan Resources (Alderan Resources (ASX:AL8) and Adelong Gold (Adelong Gold (ASX:ADG).

Also, as Reubs notes in the latest Eye on Lithium column, Latin Resources Limited (ASX:LRS), Solis Minerals (ASX:SLM), Gold Mountain (ASX:GMN), Oceana Lithium (ASX:OCN) and Si6 Metals (ASX:SI6) are also all competing for white gold in Brazil.

OZM share price

 

Around the vaults

International-trading-enabled arbitragers take note. Here’s something interesting. Gold in China is trading at a record premium to international prices, which analysts are putting down to China’s escalating battle to defend its currency.

As BNN Bloomberg reports, bullion on the Shanghai Gold Exchange has been trading at a premium of more than $120 an ounce just recently (to the spot USD gold price) – the highest since the exchange was founded more than 20 years ago.

Big trouble in big China, with the country’s real estate woes, and weak economic data weighing on the yuan. This has contributed to an increasing demand for gold in the country.

Per the report… “Investors have been buying domestic gold and selling international ones in an arbitrage trade, since speculations on gold import restrictions started in June,” said Liu Yuxuan, an analyst with Guotai Junan Futures, from Shanghai.

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