Gold Digger: Gold a standout performer in 2020, and there’s more to come

Gold has outperformed most major asset classes this year including all major US stock indexes to be up by more than 15 per cent, according to the World Gold Council.

Despite the seemingly bullish environment for risk assets in May — global stocks collectively rose by 6 per cent — the gold price edged higher while the holdings of gold-backed ETFs hit record highs.

“As investors look to hedge the economic risks of ballooning budget deficits and high valuations for both stocks and bonds, collective holdings of gold ETFs have now surpassed Germany’s official gold reserves and exceed the official gold reserves of every country except for the US,” it said.

“This also highlights the increasing acceptance of gold ETFs among investors as a means to gain exposure to gold.”

#Gold has not only provided a hedge, it has outperformed all major US stock indexes. Even #silver beaten the #Dow and S&P 500. Gold also outperformed real estate, US #dollar, and even Treasuries. Through May,, gold has risen more than all major asset classes. #equities #invest pic.twitter.com/uHx5M5qZqP

— Gavin Wendt (@MineLifeReport) June 5, 2020

Many of the positive gold demand drivers remain in place, says the World Gold Council.

That includes low interest rates, lingering uncertainty around the economic and social impact of COVID-19 (including a second wave of infections), escalating tensions between the US and China, and challenges in labour markets “not seen in generations”.

Furthermore, the race-related civil unrest that has recently emerged in the US, will create “additional uncertainty” in markets, the council says.

USD (yellow) and AUD (orange) gold prices over the past 2 months.

Winners & Losers

Here’s how ASX-listed gold stocks performed for the period June 01–05 [intraday]:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

CODE	NAME	1 WEEK RETURN %	1 YEAR RETURN %	PRICE [INTRADAY FRIDAY]	MARKET CAP
MCT	METALICITY	86	87	0.014	$ 18,053,484.00
GED	GOLDEN DEEPS	43	-63	0.011	$ 2,806,085.75
BNR	BULLETIN RESOURCES	40	471	0.086	$ 13,446,981.00
HMX	HAMMER METALS	32	32	0.031	$ 18,441,416.00
STN	SATURN METALS	31	115	0.5	$ 42,083,840.00
TNR	TORIAN RESOURCES	31	245	0.038	$ 16,928,480.00
TAR	TARUGA MINERALS	31	-30	0.017	$ 7,029,627.00
VRC	VOLT RESOURCES	29	30	0.023	$ 34,179,064.00
SIH	SIHAYO GOLD	27	36	0.016	$ 35,662,092.00
MSR	MANAS RESOUCES	25	67	0.005	$ 13,215,812.00
DTM	DART MINING	19	-51	0.069	$ 4,426,978.50
MKG	MAKO GOLD	18	-10	0.077	$ 8,134,588.00
RML	RESOLUTION MINERALS	18	67	0.072	$ 14,863,226.00
AME	ALTO METALS	18	128	0.073	$ 21,416,286.00
AUC	AUSGOLD	15	-6	0.016	$ 14,380,594.00
CAI	CALIDUS RESOURCES	15	64	0.465	$ 107,768,464.00
GBZ	GBM RESOURCES	15	129	0.085	$ 20,816,028.00
RGL	RIVERSGOLD	14	45	0.031	$ 10,321,606.00
GMR	GOLDEN RIM RESOURCES	14	-33	0.008	$ 11,028,670.00
BLK	BLACKHAM RESOURCES	14	78	1.6	$ 180,508,656.00
TSO	TESORO RESOURCES	13	84	0.078	$ 28,288,524.00
CHN	CHALICE GOLD MINES	11	763	1.025	$ 294,431,072.00
CMM	CAPRICORN METALS	11	291	1.67	$ 522,882,368.00
WAF	WEST AFRICAN RESOURCES	11	195	0.865	$ 757,882,112.00
ARV	ARTEMIS RESOURCES	11	-18	0.031	$ 32,048,404.00
BRV	BIG RIVER GOLD	10	60	0.033	$ 44,810,864.00
PGI	PANTERRA GOLD	10	181	0.044	$ 8,586,233.00
BC8	BLACK CAT SYNDICATE	9	169	0.69	$ 59,730,732.00
VAN	VANGO MINING	9	-38	0.105	$ 81,459,552.00
GNM	GREAT NORTHERN MINERALS	9	-40	0.013	$ 8,665,045.00
NVA	NOVA MINERALS	9	244	0.063	$ 65,710,884.00
GML	GATEWAY MINING	8	17	0.013	$ 18,754,624.00
TIE	TIETTO MINERALS	8	149	0.35	$ 124,295,200.00
AOP	APOLLO CONSOLIDATED	7	49	0.29	$ 79,383,200.00
BYH	BRYAH RESOURCES	7	-15	0.063	$ 6,052,430.50
NUS	NUSANTARA RESOURCES	6	100	0.32	$ 64,808,288.00
EMR	EMERALD RESOURCES	5	24	0.485	$ 252,104,128.00
BBX	BBX MINERALS	5	-57	0.1	$ 41,734,168.00
ALK	ALKANE RESOURCES	4	205	0.94	$ 548,131,456.00
DCN	DACIAN GOLD	4	-51	0.47	$ 269,788,416.00
MAT	MATSA RESOURCES	4	-8	0.125	$ 26,095,498.00
HRZ	HORIZON MINERALS	4	9	0.115	$ 49,827,272.00
TAM	TANAMI GOLD	4	33	0.054	$ 59,929,948.00
CY5	CYGNUS GOLD	4	6	0.057	$ 3,822,060.50
MOH	MOHO RESOURCES	4	35	0.081	$ 5,519,881.50
CDV	CARDINAL RESOURCES	4	24	0.425	$ 207,510,176.00
SAU	SOUTHERN GOLD	4	13	0.145	$ 18,607,670.00
TLM	TALISMAN MINING	3	23	0.11	$ 16,983,184.00
PUA	PURE ALUMINA	2	-52	0.015	$ 4,335,424.00
CYL	CATALYST METALS	2	41	2.76	$ 235,662,992.00
MLL	MALI LITHIUM	2	-36	0.097	$ 30,782,766.00
FML	FOCUS MINERALS	2	0	0.25	$ 45,687,140.00
GMN	GOLD MOUNTAIN	2	8	0.053	$ 32,525,314.00
DGR	DGR GLOBAL	2	-41	0.058	$ 42,922,748.00
NAG	NAGAMBIE RESOURCES	2	117	0.062	$ 32,495,602.00
TRY	TROY RESOURCES	1	-10	0.088	$ 53,725,420.00
BDC	BARDOC GOLD	1	53	0.088	$ 124,218,640.00
SBM	ST BARBARA	0	19	3.01	$ 2,179,593,216.00
AVW	AVIRA RESOURCES	0	0	0.003	$ 3,375,000.00
KGM	KALNORTH GOLD MINES	0	75	0.007	$ 6,259,680.50
MDI	MIDDLE ISLAND RESOURCES	0	133	0.015	$ 34,113,432.00
GUL	GULLEWA	0	103	0.065	$ 10,545,311.00
TMX	TERRAIN MINERALS	0	100	0.005	$ 3,615,805.00
WWI	WEST WITS MINING	0	57	0.011	$ 10,312,841.00
SPX	SPECTRUM METALS	0	764	0.19	$ 273,697,888.00
NXM	NEXUS MINERALS	0	14	0.05	$ 5,912,028.00
BGL	BELLEVUE GOLD	0	26	0.84	$ 569,513,216.00
LEX	LEFROY EXPLORATION	0	3	0.195	$ 18,087,614.00
RXL	ROX RESOURCES	0	108	0.025	$ 47,383,284.00
MEU	MARMOTA	0	233	0.051	$ 42,269,608.00
MTH	MITHRIL RESOURCES	0	180	0.015	$ 23,304,830.00
AYR	ALLOY RESOURCES	0	-30	0.015	$ 4,359,783.50
NWM	NORWEST MINERALS	0	-21	0.18	$ 14,252,830.00
SLZ	SULTAN RESOURCES	0	169	0.145	$ 7,620,048.00
CGN	CRATER GOLD MINING	0	-40	0.009	$ 11,047,463.00
PDI	PREDICTIVE DISCOVERY	-1	342	0.1	$ 65,714,972.00
DEG	DE GREY MINING	-1	413	0.44	$ 480,232,000.00
MML	MEDUSA MINING	-1	68	0.7	$ 145,456,016.00
GWR	GWR GROUP	-1	-43	0.068	$ 17,319,342.00
SKY	SKY METALS	-2	625	0.295	$ 89,842,120.00
OKU	OKLO RESOURCES	-2	87	0.27	$ 125,162,984.00
TBR	TRIBUNE RESOURCES	-2	66	6.33	$ 351,491,712.00
BRB	BREAKER RESOURCES	-2	-22	0.265	$ 56,673,420.00
NST	NORTHERN STAR RESOURCES	-2	37	13.43	$ 10,575,297,536.00
HRN	HORIZON GOLD	-2	75	0.25	$ 18,750,002.00
RSG	RESOLUTE MINING	-2	-6	1.085	$ 1,229,652,096.00
RMS	RAMELIUS RESOURCES	-2	80	1.675	$ 1,346,044,672.00
NCM	NEWCREST MINING	-2	4	28.82	$ 24,263,946,240.00
EVN	EVOLUTION MINING	-3	42	5.63	$ 9,987,865,600.00
VMC	VENUS METALS	-3	32	0.17	$ 25,683,376.00
ARS	ALT RESOURCES	-3	142	0.046	$ 28,548,700.00
E2M	E2 METALS	-3	-21	0.15	$ 13,780,468.00
MAU	MAGNETIC RESOURCES	-3	234	1.17	$ 253,113,264.00
RED	RED 5	-4	90	0.28	$ 558,270,912.00
OKR	OKAPI RESOURCES	-4	4	0.135	$ 4,865,787.00
ERM	EMMERSON RESOURCES	-4	47	0.11	$ 48,858,196.00
RRL	REGIS RESOURCES	-4	11	5.09	$ 2,601,883,904.00
KRM	KINGSROSE MINING	-5	-7	0.04	$ 30,660,308.00
PRU	PERSEUS MINING	-5	156	1.16	$ 1,372,465,152.00
WGX	WESTGOLD RESOURCES	-5	26	2.2	$ 937,113,472.00
GSN	GREAT SOUTHERN MINING	-6	174	0.086	$ 34,336,808.00
CWX	CARAWINE RESOURCES	-6	55	0.18	$ 13,135,708.00
BAR	BARRA RESOURCES	-6	-33	0.017	$ 10,140,768.00
KCN	KINGSGATE CONSOLIDATED	-6	63	0.39	$ 93,883,768.00
PRX	PRODIGY GOLD	-6	-49	0.048	$ 30,773,264.00
GOR	GOLD ROAD RESOURCES	-7	47	1.6	$ 1,499,911,936.00
SLR	SILVER LAKE RESOURCES	-7	132	2.01	$ 1,812,478,848.00
ALY	ALCHEMY RESOURCES	-7	13	0.012	$ 7,156,816.50
DAU	DAMPIER GOLD	-7	0	0.026	$ 6,663,608.00
AAR	ANGLO AUSTRALIAN RESOURCES	-7	100	0.13	$ 60,357,200.00
ARM	AURORA MINERALS	-7	56	0.025	$ 6,090,931.00
BCN	BEACON MINERALS	-8	89	0.036	$ 105,904,456.00
RND	RAND MINING	-8	-36	1.9	$ 114,883,584.00
AQI	ALICANTO MINERALS	-8	73	0.069	$ 17,734,816.00
SFM	SANTA FE MINERALS	-8	-45	0.055	$ 4,369,127.50
SAR	SARACEN MINERAL HOLDINGS	-8	38	4.57	$ 5,315,934,208.00
GSM	GOLDEN STATE MINING	-9	258	0.21	$ 8,926,359.00
KTA	KRAKATOA RESOURCES	-9	39	0.035	$ 7,875,000.00
NES	NELSON RESOURCES	-9	-47	0.042	$ 2,165,692.25
KWR	KINGWEST RESOURCES	-10	-7	0.14	$ 18,285,806.00
CXU	CAULDRON ENERGY	-11	25	0.025	$ 9,407,246.00
CDT	CASTLE MINERALS	-11	33	0.009	$ 2,455,343.75
AGS	ALLIANCE RESOURCES	-11	70	0.15	$ 26,699,978.00
VKA	VIKING MINES	-13	-36	0.007	$ 3,137,178.50
GBR	GREAT BOULDER RESOURCES	-13	-56	0.028	$ 3,469,803.75
HAW	HAWTHORN RESOURCES	-13	136	0.13	$ 46,692,184.00
ARL	ARDEA RESOURCES	-14	-22	0.275	$ 32,257,620.00
ONX	ORMINEX	-14	-78	0.042	$ 26,416,006.00
TSC	TWENTY SEVEN CO	-14	200	0.007	$ 8,917,925.00
DGO	DGO GOLD	-16	209	1.98	$ 105,972,936.00
AWV	ANOVA METALS	-17	127	0.023	$ 27,434,912.00
TTM	TITAN MINERALS	-18	-62	0.066	$ 53,287,680.00
CTO	CITIGOLD CORP	-20	0	0.005	$ 13,005,866.00
AAJ	ARUMA RESOURCES	-20	33	0.005	$ 2,837,655.50
LNY	LANEWAY RESOURCES	-20	-56	0.004	$ 18,600,330.00
DHR	DARK HORSE RESOURCES	-20	-50	0.002	$ 4,988,126.00
SVL	SILVER MINES	-21	130	0.105	$ 111,027,184.00
ADN	ANDROMEDA METALS	-22	489	0.055	$ 79,835,256.00
AMG	AUSMEX MINING GROUP	-23	-69	0.032	$ 17,522,186.00
ANL	AMANI GOLD	-25	-25	0.0015	$ 13,668,993.00
DTR	DATELINE RESOURCES	-25	-50	0.0015	$ 12,315,117.00
SMI	SANTANA MINERALS	-25	0	0.003	$ 8,051,836.50
A1G	AFRICAN GOLD	-29	-48	0.1	$ 6,681,500.00
OAU	ORA GOLD	-30	27	0.014	$ 10,763,392.00
MLS	METALS AUSTRALIA	-33	0	0.001	$ 3,207,352.75

Over the past year, 39 of the companies on our list have made gains of 100 per cent or more. The major miners have been impressive, led by Silver Lake Resources (ASX:SLR) +132%, Perseus Mining (ASX:PRU) +156%, and West African Resources (ASX:WAF) +195%. Just one major, Resolute Mining (ASX:RSG) -6%, is down over the past year.

Weekly Winners:

METALICITY (ASX:MCT) +86%

Metalicity has just launched a new drilling program at its historic, high-grade Kookynie gold project in WA, focused on the previously mined Leipold and McTavish prospects.

But there’s also ~8km of ‘strike’ here – identified this week through mapping and re-processing of regional geophysics — without a drill hole in it.

The structures that host the high-grade Cosmopolitan mine, which produced 360,000oz at 15 grams pet tonne (g/t) gold in the early 1900s, are now thought to extend for ~2km north and south of the mine.

This highlights the ‘camp scale’ potential of the unloved project, Metalicity says, which had already established an exploration target of between 294,000oz and 967,000oz at Kookynie.

READ: Could this WA gold story be the next Spectrum?

SATURN METALS (ASX:STN) +30%

The latest round of drilling at Saturn’s flagship~780,000/oz Apollo Hill project has widened the mineralised corridor to 600m and extended the higher-grade hanging wall mineralisation.

Hits included 8m at 5.12g/t gold from 215m and 4m at 15.57g/t from 100m, including 2m at 31g/t from 100m.

Saturn’s plan is to increase the current resource with an update due out later this year.

WATCH: Stockhead V-Con: Gold Out West – The Explorers

TORIAN (ASX:TNR) +30%

Hole one of maiden drilling at the Mt Stirling gold camp in WA has hit 274m of quartz‐carbonate veining containing pyrite and ended in mineralisation, Torian (ASX:TNR) says.

Results are “imminent” from this eight-hole drill program — the first in four years — which is testing extensions to a significant historical gold intercept of 35m at 2.99g/t.

A much bigger phase-two drilling program is already planned at Mt Stirling, which neighbours $530m market cap RED 5’s (ASX:RED) King of The Hills mine.