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Gold Digger: Great news – gold price headwinds just became a tailwind
Mining
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The recovery in the gold price from its early March lows — ~$1,670s to over $1,825 currently — was mostly driven by the decline in real interest rates and, more recently a poor US jobs report and increasing inflation.
US core inflation in April came in at nearly 3%, surpassing even most the aggressive forecasts, according to The Felder Report.
“With inflation now rising much faster than interest rates, real rates have now fallen (inverted in the chart below) to a level that should be about as bullish for gold prices as anything we have seen in recent years,” Jesse Felder writes.
“Should these nascent trends in inflation and interest rates prove to be more than “transitory,” as Dr. Copper would seem to suggest, it would appear that the gold price could be significantly undervalued at present.”
That’s good news for gold plays, many of which are still trading well below their late 2020 highs.
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
| CODE | COMPANY | 1 WEEK RETURN % | 1 MONTH RETURN % | 6 MONTH RETURN % | 1 YEAR RETURN % | PRICE [INTRADAY FRIDAY] | MARKET CAP |
|---|---|---|---|---|---|---|---|
| TLM | Talisman Mining | 66 | 129 | 100 | 212 | 0.24 | $ 43,857,670.48 |
| ANL | Amani Gold Ltd | 50 | 50 | 50 | 0 | 0.0015 | $ 21,573,993.49 |
| MSR | Manas Res Ltd | 33 | 33 | 33 | 100 | 0.008 | $ 19,321,915.19 |
| VRC | Volt Resources Ltd | 25 | 100 | 200 | 275 | 0.03 | $ 61,888,530.63 |
| PF1 | Pathfinder Resources | 25 | -5 | 45 | 0.275 | $ 13,425,531.30 | |
| NWM | Norwest Minerals | 22 | 25 | -13 | -39 | 0.1 | $ 10,557,497.36 |
| YRL | Yandal Resources | 22 | 49 | 24 | 209 | 0.67 | $ 64,489,539.42 |
| AME | Alto Metals Limited | 21 | 11 | -13 | 64 | 0.105 | $ 54,031,168.20 |
| TAR | Taruga Minerals | 21 | 100 | 88 | 453 | 0.094 | $ 45,492,885.54 |
| OAU | Ora Gold Limited | 20 | 20 | 0 | 41 | 0.024 | $ 19,339,440.11 |
| KCC | Kincora Copper | 19 | 41 | 0.345 | $ 23,798,729.97 | ||
| E2M | E2 Metals | 18 | 14 | -62 | 175 | 0.33 | $ 48,801,481.95 |
| BAT | Battery Minerals Ltd | 18 | -5 | -20 | 300 | 0.02 | $ 36,742,923.74 |
| DCX | Discovex Res Ltd | 17 | 17 | 0 | 133 | 0.007 | $ 17,980,648.53 |
| AVW | Avira Resources Ltd | 17 | 0 | -22 | 600 | 0.007 | $ 9,625,280.00 |
| TNR | Torian Resources Ltd | 16 | 27 | 78 | 249 | 0.057 | $ 48,896,035.32 |
| KSN | Kingston Resources | 16 | 0 | -19 | 29 | 0.22 | $ 63,840,812.85 |
| STK | Strickland Metals | 14 | 4 | -70 | 108 | 0.025 | $ 10,107,636.50 |
| FFX | Firefinch Ltd | 13 | 75 | 152 | 437 | 0.4025 | $ 293,678,490.38 |
| ANX | Anax Metals Ltd | 13 | 30 | 85 | 620 | 0.096 | $ 31,516,550.10 |
| SLZ | Sultan Resources Ltd | 12 | 58 | 14 | 185 | 0.285 | $ 20,164,972.81 |
| RSG | Resolute Mining | 10 | 22 | -29 | -43 | 0.575 | $ 645,777,233.01 |
| TTM | Titan Minerals | 9 | 22 | -4 | 79 | 0.12 | $ 131,037,029.91 |
| ERM | Emmerson Resources | 9 | -3 | -6 | -18 | 0.074 | $ 36,869,648.19 |
| TMZ | Thomson Res Ltd | 9 | 9 | -7 | 794 | 0.125 | $ 59,862,076.30 |
| GML | Gateway Mining | 9 | -7 | 32 | 127 | 0.025 | $ 45,687,254.40 |
| KTA | Krakatoa Resources | 9 | 0 | -15 | 110 | 0.063 | $ 17,294,900.00 |
| PUR | Pursuit Minerals | 8 | -20 | 371 | 1317 | 0.066 | $ 44,290,311.88 |
| NUS | Nusantara Resources | 8 | 6 | -4 | 4 | 0.275 | $ 63,050,076.93 |
| PRS | Prospech Limited | 8 | 12 | 0 | 0 | 0.14 | $ 8,777,779.52 |
| DTM | Dart Mining NL | 8 | 0 | -18 | 141 | 0.14 | $ 13,992,366.64 |
| PNR | Pantoro Limited | 8 | 10 | 8 | 59 | 0.215 | $ 309,847,610.16 |
| PDI | Predictive Disc Ltd | 7 | 6 | 29 | 40 | 0.088 | $ 89,656,325.62 |
| PNX | PNX Metals Limited | 7 | 7 | -25 | 7 | 0.0075 | $ 25,565,354.58 |
| CLA | Celsius Resource Ltd | 7 | 21 | 31 | 411 | 0.046 | $ 48,172,491.73 |
| KAI | Kairos Minerals Ltd | 7 | -6 | -26 | 202 | 0.031 | $ 53,646,109.57 |
| MAT | Matsa Resources | 7 | 0 | -37 | -31 | 0.079 | $ 25,100,909.84 |
| GIB | Gibb River Diamonds | 6 | -12 | -57 | 53 | 0.066 | $ 13,113,585.59 |
| HRN | Horizon Gold Ltd | 6 | 2 | 22 | 87 | 0.42 | $ 44,810,646.72 |
| SVL | Silver Mines Limited | 6 | 21 | 13 | 183 | 0.255 | $ 291,126,209.05 |
| TSO | Tesoro Resources Ltd | 6 | 3 | -49 | 308 | 0.185 | $ 94,909,562.85 |
| SSR | SSR Mining Inc. | 6 | 10 | -20 | 21.65 | $ 404,901,460.90 | |
| CHN | Chalice Mining Ltd | 6 | 23 | 131 | 606 | 7.73 | $ 2,531,432,404.68 |
| ARL | Ardea Resources Ltd | 5 | -3 | -1 | 102 | 0.495 | $ 61,281,879.36 |
| HMX | Hammer Metals Ltd | 5 | 0 | 127 | 335 | 0.1 | $ 83,567,007.83 |
| OKR | Okapi Resources | 5 | 14 | 3 | 64 | 0.205 | $ 10,301,945.36 |
| SBM | St Barbara Limited | 5 | -5 | -27 | -25 | 2 | $ 1,412,507,459.06 |
| EVN | Evolution Mining Ltd | 5 | 9 | -19 | -12 | 4.85 | $ 8,338,295,374.80 |
| NCM | Newcrest Mining | 5 | 6 | -7 | -1 | 27.63 | $ 22,736,999,231.44 |
| DRE | Drednought Resources | 4 | 26 | -11 | 300 | 0.024 | $ 59,239,002.26 |
| A1G | African Gold Ltd. | 4 | -8 | 69 | 227 | 0.245 | $ 22,309,171.78 |
| ICG | Inca Minerals Ltd | 4 | 14 | 150 | 334 | 0.125 | $ 50,531,550.00 |
| NML | Navarre Minerals Ltd | 4 | -11 | -53 | 4 | 0.125 | $ 65,549,058.12 |
| MTC | Metalstech Ltd | 4 | -7 | -22 | -11 | 0.125 | $ 19,227,204.75 |
| NES | Nelson Resources. | 4 | 2 | 18 | 148 | 0.084 | $ 12,219,748.13 |
| TIE | Tietto Minerals | 4 | -5 | -30 | -19 | 0.295 | $ 132,293,782.24 |
| IVR | Investigator Res Ltd | 3 | 10 | 41 | 642 | 0.089 | $ 116,507,301.42 |
| GOR | Gold Road Res Ltd | 3 | 7 | -4 | -14 | 1.335 | $ 1,184,784,458.11 |
| WAF | West African Res Ltd | 3 | 4 | -2 | 30 | 1 | $ 865,386,917.50 |
| SLR | Silver Lake Resource | 3 | 6 | -8 | -8 | 1.855 | $ 1,648,545,839.05 |
| NSM | Northstaw | 3 | -17 | -24 | 0.34 | $ 13,400,000.00 | |
| DCN | Dacian Gold Ltd | 3 | -3 | -3 | -13 | 0.34 | $ 271,806,890.09 |
| PKO | Peako Limited | 3 | 36 | 41 | 270 | 0.038 | $ 7,298,058.73 |
| ADT | Adriatic Metals | 3 | 5 | -2 | 88 | 2.33 | $ 428,503,703.04 |
| ADN | Andromeda Metals Ltd | 3 | -30 | -19 | 268 | 0.195 | $ 399,734,648.00 |
| TAM | Tanami Gold NL | 3 | 1 | 4 | 86 | 0.08 | $ 96,357,957.77 |
| RMS | Ramelius Resources | 2 | 7 | -8 | 27 | 1.7575 | $ 1,428,600,301.83 |
| MEU | Marmota Limited | 2 | 2 | 0 | 0 | 0.044 | $ 42,615,482.36 |
| NXM | Nexus Minerals Ltd | 2 | -1 | -48 | 91 | 0.088 | $ 21,973,650.39 |
| PRX | Prodigy Gold NL | 2 | 0 | 0 | 15 | 0.047 | $ 27,289,497.48 |
| WMX | Wiluna Mining Corp | 2 | 1 | -44 | -1 | 0.995 | $ 124,953,350.94 |
| MKG | Mako Gold | 2 | 10 | 1 | 82 | 0.1 | $ 25,724,160.20 |
| ONX | Orminexltd | 2 | 33 | 130 | -15 | 0.053 | $ 30,133,003.18 |
| GWR | GWR Group Ltd | 2 | 2 | 82 | 417 | 0.31 | $ 98,405,593.98 |
| AGG | AngloGold Ashanti | 2 | 0 | -14 | -29 | 5.69 | $ 506,700,105.20 |
| BCN | Beacon Minerals | 1 | 6 | 7 | -1 | 0.035 | $ 121,839,888.93 |
| HCH | Hot Chili Ltd | 1 | -21 | -26 | 88 | 0.0365 | $ 110,790,995.94 |
| MOH | Moho Resources | 1 | -10 | -37 | 12 | 0.076 | $ 7,642,379.75 |
| BNZ | Benzmining | 1 | -1 | 0.795 | $ 30,083,512.80 | ||
| WGX | Westgold Resources. | 1 | -8 | -19 | -7 | 2.045 | $ 877,380,408.90 |
| AUT | Auteco Minerals | 1 | -9 | -17 | 72 | 0.091 | $ 136,344,567.43 |
| CMM | Capricorn Metals | 1 | 13 | 6 | 22 | 1.83 | $ 658,036,620.52 |
| RND | Rand Mining Ltd | 0 | -12 | -37 | -25 | 1.425 | $ 81,048,244.43 |
| A8G | Australasian Gold | 0.18 | $ 5,629,539.97 | ||||
| MM8 | Medallion Metals. | 0 | 2 | 0.255 | $ 20,447,019.71 | ||
| MBK | Metal Bank Ltd | 0 | -8 | -15 | 44 | 0.011 | $ 13,029,591.34 |
| XAM | Xanadu Mines Ltd | 0 | -19 | 40 | 107 | 0.06 | $ 75,337,065.00 |
| TIN | Tnt Mines Limited | 0 | 3 | -42 | 3 | 0.16 | $ 15,427,712.00 |
| MRR | Minrex Resources Ltd | 0 | 9 | 0 | 167 | 0.024 | $ 12,676,152.27 |
| IPT | Impact Minerals | 0 | -20 | -27 | 23 | 0.016 | $ 32,380,718.70 |
| SFM | Santa Fe Minerals | 0 | -3 | -19 | 80 | 0.097 | $ 7,063,422.53 |
| FFR | Firefly Resources | 0 | 5 | -44 | 364 | 0.105 | $ 32,270,650.65 |
| REZ | Resourc & En Grp Ltd | 0 | -8 | -46 | 147 | 0.037 | $ 15,108,827.62 |
| PUA | Peak Minerals Ltd | 0 | -12 | -12 | 73 | 0.022 | $ 12,908,755.69 |
| ALY | Alchemy Resource Ltd | 0 | 0 | -20 | 49 | 0.016 | $ 10,755,895.25 |
| THR | Thor Mining PLC | 0 | 20 | -14 | 200 | 0.018 | $ 9,554,902.29 |
| WCN | White Cliff Min Ltd | 0 | -6 | -47 | 240 | 0.017 | $ 8,792,338.78 |
| FML | Focus Minerals Ltd | 0 | 5 | -20 | 20 | 0.3 | $ 53,910,826.68 |
| TRY | Troy Resources Ltd | 0 | -8 | -34 | -19 | 0.066 | $ 50,756,772.46 |
| LCL | Los Cerros Limited | 0 | -10 | 17 | 289 | 0.175 | $ 82,695,372.38 |
| WRM | White Rock Min Ltd | 0 | -27 | -14 | 10 | 0.44 | $ 39,392,297.12 |
| SVY | Stavely Minerals Ltd | 0 | -5 | -33 | 54 | 0.615 | $ 163,100,907.50 |
| OBM | Ora Banda Mining Ltd | 0 | -22 | -42 | 4 | 0.195 | $ 160,022,171.83 |
| MAU | Magnetic Resources | 0 | -10 | 25 | 83 | 1.42 | $ 309,593,355.80 |
| TBR | Tribune Res Ltd | 0 | -1 | -24 | -22 | 5.2 | $ 270,210,596.55 |
| DDD | 3D Resources Limited | 0 | -10 | -9 | 172 | 0.0045 | $ 14,481,488.37 |
| DTR | Dateline Resources | 0 | -13 | 75 | 250 | 0.0035 | $ 26,493,234.23 |
| GUL | Gullewa Limited | 0 | -7 | -25 | 32 | 0.086 | $ 15,684,086.60 |
| KGM | Kalnorth Gold Ltd | 0 | 0 | 0 | 86 | 0.013 | $ 11,625,120.78 |
| LNY | Laneway Res Ltd | 0 | -29 | -33 | 25 | 0.005 | $ 18,875,329.67 |
| MZZ | Matador Mining Ltd | 0 | 27 | 3 | 103 | 0.405 | $ 72,564,123.24 |
| MLS | Metals Australia | 0 | -20 | 0 | 100 | 0.002 | $ 8,454,376.09 |
| NAE | New Age Exploration | 0 | 13 | 38 | 500 | 0.018 | $ 23,171,315.29 |
| NPM | Newpeak Metals | 0 | 0 | -33 | 0 | 0.002 | $ 14,185,403.25 |
| PNM | Pacific Nickel Mines | 0 | -5 | -9 | -16 | 0.052 | $ 10,532,521.84 |
| RVR | Red River Resources | 0 | -13 | -25 | 225 | 0.205 | $ 108,732,617.07 |
| SIH | Sihayo Gold Limited | 0 | 18 | -46 | -4 | 0.013 | $ 47,910,998.37 |
| XTC | Xantippe Res Ltd | 0 | 0 | 0 | 0 | 0.002 | $ 8,149,128.80 |
| AAJ | Aruma Resources Ltd | 0 | -6 | -33 | 8 | 0.065 | $ 6,887,460.26 |
| SKY | SKY Metals Ltd | 0 | -6 | -36 | -59 | 0.15 | $ 35,764,225.06 |
| MHC | Manhattan Corp Ltd | 0 | 0 | -53 | 56 | 0.014 | $ 21,367,901.70 |
| CTO | Citigold Corp Ltd | 0 | -15 | -21 | 175 | 0.011 | $ 30,580,000.00 |
| RDS | Redstone Resources | 0 | 0 | -14 | 140 | 0.012 | $ 8,627,988.76 |
| ARV | Artemis Resources | 0 | 9 | -19 | 275 | 0.105 | $ 119,360,253.29 |
| TSC | Twenty Seven Co. Ltd | 0 | -17 | -29 | -29 | 0.005 | $ 10,642,758.24 |
| MTH | Mithril Resources | 0 | -17 | -49 | 25 | 0.015 | $ 32,903,262.57 |
| AYM | Australia United Min | 0 | -10 | 0 | 350 | 0.009 | $ 16,583,197.37 |
| MCT | Metalicity Limited | 0 | -8 | -37 | 243 | 0.012 | $ 19,438,366.81 |
| KCN | Kingsgate Consolid. | -1 | -5 | 4 | 109 | 0.835 | $ 186,636,400.50 |
| PRU | Perseus Mining Ltd | -1 | 2 | -5 | 12 | 1.2125 | $ 1,471,748,244.00 |
| AMI | Aurelia Metals Ltd | -1 | -8 | -20 | 35 | 0.3925 | $ 493,895,950.00 |
| DGO | DGO Gold Limited | -1 | 4 | 3 | 75 | 3.5 | $ 257,431,118.00 |
| GBR | Greatbould Resources | -1 | 161 | 101 | 192 | 0.094 | $ 27,132,845.75 |
| IDA | Indiana Resources | -1 | 5 | 29 | 349 | 0.084 | $ 25,020,982.22 |
| KZR | Kalamazoo Resources | -1 | -8 | -34 | -10 | 0.415 | $ 54,095,987.94 |
| STN | Saturn Metals | -1 | -1 | -45 | 17 | 0.41 | $ 46,672,771.65 |
| NST | Northern Star | -1 | -2 | -30 | -21 | 10.56 | $ 12,320,856,276.21 |
| NAG | Nagambie Resources | -1 | -7 | 60 | 45 | 0.08 | $ 39,994,587.68 |
| BYH | Bryah Resources Ltd | -1 | 6 | 1 | 124 | 0.074 | $ 11,669,078.61 |
| BRV | Big River Gold Ltd | -1 | -12 | -14 | 45 | 0.37 | $ 80,055,706.60 |
| ARN | Aldoro Resources | -1 | 2 | 158 | 139 | 0.335 | $ 24,496,441.92 |
| AAU | Antilles Gold Ltd | -1 | -24 | 31 | 168 | 0.066 | $ 12,879,348.83 |
| RRL | Regis Resources | -2 | -15 | -34 | -45 | 2.585 | $ 1,975,534,786.82 |
| NVA | Nova Minerals Ltd | -2 | -11 | -19 | 197 | 0.1425 | $ 233,792,530.58 |
| MML | Medusa Mining Ltd | -2 | -1 | -1 | 17 | 0.795 | $ 165,259,274.30 |
| CST | Castile Resources | -2 | -2 | -10 | 112 | 0.265 | $ 55,918,833.88 |
| M24 | Mamba Exploration | -2 | -19 | 0.22 | $ 7,400,000.00 | ||
| LEX | Lefroy Exploration | -2 | -36 | 272 | 447 | 0.875 | $ 109,808,845.31 |
| AUC | Ausgold Limited | -2 | -19 | -26 | 207 | 0.043 | $ 68,170,030.26 |
| SAU | Southern Gold | -2 | -12 | -29 | -32 | 0.082 | $ 17,492,957.99 |
| WWI | West Wits Mining Ltd | -2 | -12 | -2 | 613 | 0.082 | $ 113,485,568.81 |
| EMR | Emerald Res NL | -3 | 19 | 63 | 99 | 0.975 | $ 499,935,290.79 |
| MKR | Manuka Resources. | -3 | -10 | -21 | 0.375 | $ 38,078,970.52 | |
| RED | Red 5 Limited | -3 | 16 | -31 | -10 | 0.185 | $ 445,801,416.93 |
| BRB | Breaker Res NL | -3 | -22 | -3 | -3 | 0.18 | $ 58,651,367.22 |
| VMC | Venus Metals Cor Ltd | -3 | -5 | -27 | 6 | 0.175 | $ 24,927,982.70 |
| BNR | Bulletin Res Ltd | -3 | -5 | -18 | 33 | 0.069 | $ 12,371,222.11 |
| AWJ | Auric Mining | -3 | -8 | 0.17 | $ 6,883,782.46 | ||
| RXL | Rox Resources | -3 | -11 | -39 | 36 | 0.034 | $ 78,015,767.84 |
| OZM | Ozaurum Resources | -3 | -19 | 0.145 | $ 7,022,700.00 | ||
| ENR | Encounter Resources | -3 | -9 | -28 | 38 | 0.145 | $ 45,756,736.94 |
| AGC | AGC Ltd | -3 | -20 | 0.14 | $ 8,804,546.92 | ||
| AGC | AGC Ltd | -3 | -20 | 0.14 | $ 8,804,546.92 | ||
| ALK | Alkane Resources Ltd | -4 | 15 | -20 | 9 | 0.815 | $ 488,218,816.00 |
| MEI | Meteoric Resources | -4 | -5 | -5 | 212 | 0.053 | $ 69,683,951.57 |
| TRM | Truscott Mining Corp | -4 | 9 | 4 | 213 | 0.025 | $ 3,198,538.60 |
| RML | Resolution Minerals | -4 | 0 | -43 | -60 | 0.025 | $ 11,639,669.96 |
| OKU | Oklo Resources Ltd | -4 | -14 | -46 | -58 | 0.125 | $ 60,483,577.44 |
| PGD | Peregrine Gold | -4 | 28 | 0.345 | $ 9,584,252.70 | ||
| BAR | Barra Resources | -4 | 15 | -39 | 5 | 0.023 | $ 15,584,986.32 |
| HRZ | Horizon | -4 | 0 | 0 | 19 | 0.115 | $ 65,317,148.00 |
| GBZ | GBM Rsources Ltd | -4 | 5 | -39 | 60 | 0.11 | $ 45,466,896.30 |
| GED | Golden Deeps | -5 | -13 | -25 | 17 | 0.0105 | $ 8,523,365.84 |
| GMN | Gold Mountain Ltd | -5 | -7 | -9 | -11 | 0.04 | $ 30,708,996.96 |
| AWV | Anova Metals Ltd | -5 | -17 | -31 | 100 | 0.02 | $ 28,661,884.00 |
| PAK | Pacific American Hld | -5 | 0 | -20 | 100 | 0.02 | $ 7,008,867.80 |
| DEX | Duke Exploration | -5 | 18 | 18 | 0.39 | $ 23,531,434.29 | |
| CAI | Calidus Resources | -5 | -4 | -34 | 44 | 0.39 | $ 155,539,287.93 |
| AAR | Anglo Australian | -5 | -18 | -40 | -40 | 0.09 | $ 54,777,779.71 |
| CGN | Crater Gold Min Ltd | -5 | -10 | -47 | 80 | 0.018 | $ 22,094,925.61 |
| CYL | Catalyst Metals | -5 | -6 | -28 | -33 | 1.97 | $ 193,642,574.31 |
| CAZ | Cazaly Resources | -5 | 29 | 18 | 130 | 0.053 | $ 19,586,853.15 |
| ZNC | Zenith Minerals Ltd | -5 | 112 | 96 | 223 | 0.265 | $ 83,892,608.55 |
| GSN | Great Southern | -5 | -7 | -38 | -15 | 0.052 | $ 23,661,061.84 |
| AQX | Alice Queen Ltd | -6 | -11 | -39 | -15 | 0.017 | $ 18,641,580.67 |
| LCY | Legacy Iron Ore | -6 | -16 | 129 | 700 | 0.016 | $ 96,071,077.76 |
| MVL | Marvel Gold Limited | -6 | -11 | -19 | 94 | 0.047 | $ 23,906,270.73 |
| BC8 | Black Cat Syndicate | -6 | -6 | -3 | 64 | 0.705 | $ 96,398,817.13 |
| AMG | Ausmex Mining Gp Ltd | -6 | -19 | 5 | 7 | 0.046 | $ 23,834,718.50 |
| VKA | Viking Mines Ltd | -6 | -25 | 65 | 394 | 0.03 | $ 28,595,236.07 |
| MGV | Musgrave Minerals | -7 | -3 | -23 | 214 | 0.345 | $ 186,628,032.15 |
| CWX | Carawine Resources | -7 | 6 | -13 | 38 | 0.275 | $ 30,489,172.56 |
| TRN | Torrens Mining | -7 | -13 | 0.135 | $ 9,164,399.00 | ||
| AL8 | Alderan Resource Ltd | -7 | -7 | -36 | 91 | 0.067 | $ 19,366,170.98 |
| SMI | Santana Minerals Ltd | -7 | 0 | -35 | -38 | 0.13 | $ 14,254,079.50 |
| AOP | Apollo Consolidated | -8 | -6 | -5 | 22 | 0.305 | $ 89,472,382.90 |
| GSM | Golden State Mining | -8 | -17 | -50 | -29 | 0.12 | $ 10,343,544.75 |
| RDN | Raiden Resources Ltd | -8 | -8 | -31 | 380 | 0.024 | $ 30,307,579.53 |
| GTR | Gti Resources | -8 | -4 | 26 | -17 | 0.024 | $ 16,757,467.95 |
| EM2 | Eagle Mountain | -8 | 7 | 157 | 579 | 0.95 | $ 196,541,401.73 |
| BDC | Bardoc Gold Ltd | -8 | -3 | -7 | -10 | 0.071 | $ 121,468,016.32 |
| GRL | Godolphin Resources | -8 | -8 | -33 | 3 | 0.175 | $ 15,139,875.96 |
| S2R | S2 Resources | -8 | 13 | -37 | 85 | 0.17 | $ 53,531,500.43 |
| HAW | Hawthorn Resources | -8 | -17 | -61 | -56 | 0.045 | $ 15,341,718.20 |
| DLC | Delecta Limited | -8 | -8 | -21 | 38 | 0.0055 | $ 5,547,416.63 |
| SI6 | SI6 Metals Limited | -8 | -35 | 10 | 450 | 0.011 | $ 15,325,862.90 |
| EMU | EMU NL | -8 | -10 | -23 | 159 | 0.044 | $ 20,815,552.42 |
| SPQ | Superior Resources | -8 | -8 | -35 | 193 | 0.011 | $ 15,194,693.70 |
| BTR | Brightstar Resources | -9 | -11 | -52 | 520 | 0.031 | $ 14,072,024.45 |
| MEG | Megado | -9 | 3 | -23 | 0.155 | $ 6,119,819.70 | |
| GMR | Golden Rim Resources | -9 | 11 | -23 | 67 | 0.01 | $ 26,703,496.79 |
| SBR | Sabre Resources | -9 | -17 | -58 | 150 | 0.005 | $ 8,415,318.25 |
| TMX | Terrain Minerals | -9 | -17 | -23 | 100 | 0.01 | $ 7,357,610.09 |
| ADV | Ardiden Ltd | -9 | -38 | -62 | 150 | 0.01 | $ 21,493,542.16 |
| MRZ | Mont Royal Resources | -10 | 12 | 8 | 124 | 0.325 | $ 11,931,165.23 |
| KWR | Kingwest Resources | -10 | -28 | -54 | -38 | 0.09 | $ 14,642,920.00 |
| CXU | Cauldron Energy Ltd | -10 | -18 | -22 | 33 | 0.036 | $ 18,079,980.48 |
| CBY | Canterbury Resources | -10 | -14 | -14 | 38 | 0.09 | $ 10,067,867.73 |
| KRM | Kingsrose Mining Ltd | -10 | 15 | 42 | 54 | 0.054 | $ 42,340,426.42 |
| RMX | Red Mount Min Ltd | -10 | -18 | -36 | 200 | 0.009 | $ 11,261,902.40 |
| CHZ | Chesser Resources | -10 | -7 | -46 | 81 | 0.13 | $ 63,210,297.50 |
| FAU | First Au Ltd | -11 | 6 | -37 | 113 | 0.017 | $ 10,448,688.82 |
| DEG | De Grey Mining | -11 | 5 | 9 | 239 | 1.255 | $ 1,871,096,038.45 |
| ASO | Aston Minerals Ltd | -11 | 19 | 230 | 869 | 0.155 | $ 126,396,127.21 |
| NMR | Native Mineral Res | -11 | 2 | 0.31 | $ 9,220,320.00 | ||
| MDI | Middle Island Res | -12 | -53 | -64 | -62 | 0.115 | $ 14,687,489.16 |
| SRN | Surefire Rescs NL | -12 | -4 | -30 | 667 | 0.023 | $ 24,137,529.02 |
| SNG | Siren Gold | -12 | -46 | -59 | 0.225 | $ 13,960,053.90 | |
| BGL | Bellevue Gold Ltd | -13 | -4 | -40 | 42 | 0.825 | $ 732,118,513.37 |
| BMO | Bastion Minerals | -13 | -13 | 0.17 | $ 9,767,224.20 | ||
| KAU | Kaiser Reef | -14 | -18 | -38 | 2 | 0.255 | $ 24,202,088.50 |
| AZS | Azure Minerals | -14 | -24 | -69 | 250 | 0.28 | $ 89,344,859.09 |
| CDT | Castle Minerals | -14 | 20 | -4 | 71 | 0.012 | $ 8,790,009.82 |
| ZAG | Zuleika Gold Ltd | -15 | -22 | -45 | 46 | 0.035 | $ 15,993,641.55 |
| AGS | Alliance Resources | -15 | -15 | -18 | 28 | 0.145 | $ 32,242,655.77 |
| AXE | Archer Materials | -15 | -21 | 39 | 64 | 0.715 | $ 151,444,485.82 |
| CEL | Challenger Exp Ltd | -17 | -3 | 46 | 67 | 0.3 | $ 170,042,005.77 |
| AQI | Alicanto Min Ltd | -17 | 4 | -14 | 76 | 0.12 | $ 39,344,095.32 |
| VAN | Vango Mining Ltd | -18 | -25 | -19 | -47 | 0.061 | $ 67,165,007.07 |
| RGL | Riversgold | -19 | -16 | -7 | 258 | 0.043 | $ 18,181,898.82 |
| BBX | BBX Minerals Ltd | -20 | 33 | -22 | 188 | 0.265 | $ 121,374,575.87 |
| GNM | Great Northern | -20 | -11 | -53 | 14 | 0.008 | $ 9,672,407.81 |
| CY5 | Cygnus Gold Limited | -20 | -27 | -43 | 167 | 0.12 | $ 15,720,914.21 |
| HXG | Hexagon Energy | -20 | 1 | 70 | 53 | 0.092 | $ 40,141,244.43 |
| G88 | Golden Mile Res Ltd | -20 | -31 | 16 | 136 | 0.066 | $ 12,461,631.19 |
| HWK | Hawkstone Mng Ltd | -21 | -27 | 161 | 275 | 0.03 | $ 49,076,799.21 |
| M2R | Miramar | -34 | -30 | -53 | 0.175 | $ 7,600,953.60 | |
| ODY | Odyssey Gold | -3 | 82 | 130 | 124 | 0.18 | $ 77,390,000.00 |
SMALL CAP STANDOUTS
TALISMAN MINING (ASX:TLM) +66%
Capital H’s Josh Baker reckons that the flagship asset of gold-copper explorer Talisman is actually a royalty over the Wonmunna iron ore project, acquired when it sold off the project in 2011.
The project is now owned by Mineral Resources (ASX:MIN), which is currently drilling to grow the resource.
“As such, we think there is a strong likelihood that the scope of the deposit will be expanded and able to support a 10Mtpa scale operation for 5yrs+,” Baker says.
“At the current average price for 58% graded ore for CY21 to date (~USD142/t), this implies a revenue run-rate of ~$9 million p.a. from TLM’s royalty.
“Should MIN be successful in doubling the production run-rate asap, it would imply a revenue run-rate of ~$18 million p.a. on the same assumptions, in stark contrast to [Talisman’s] current $37 million market cap.”
NORWEST MINERALS (ASX:NWM) 22%
This quiet but industrious explorer was rerated in early trade Tuesday by a monster gold intercept at the 100,000oz ‘Bulgera’ project – 16m at 7g/t from 120m, to be exact.
That intercept is probably bigger, because the hole ended in 18.5g/t mineralisation.
The historic Bulgera project in WA remains underexplored, both along strike and at depth.
“The continuity of these relatively shallow, wide, high-grade drill intersections demonstrates Bulgera’s significant potential, especially with one of the holes ending in very-high grade mineralisation at only 210 metres,” managing director Charles Schaus says.
“We are very keen to recommence drilling to test for downdip extensions of this gold-rich zone.”
Another big gold hit.
Alto pulled up 4m at 60.6g/t from 40m, 240m away from the known mineralisation at ‘Vanguard’, part of the Sandstone project in WA.
There was a bunch of other good results, like 8m at 3.1g/t from 8m.
A total of 13 drill holes for over 2,600m are pending for Vanguard and a further 30 drill holes for over 6,300m from the ‘Lords Corridor’.
“Our wide-spaced, step-out drilling has now confirmed gold mineralisation over two kilometres, and it remains open along strike and down dip,” Alto managing director Matthew Bowles says.
“We can see Vanguard continuing to grow and plan to systematically test both the Vanguard and Vanguard North trends, along with the overall 20 kilometre corridor of differentiated dolerite that hosts Vanguard, Havilah and Indomitable deposits.
“Coming on the back of the ongoing success we are having at the Lords Corridor, where drilling is ongoing, these outstanding results from Vanguard validate our approach and view of a much larger gold system at our Sandstone Gold Project.”
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