Pic: Tyler Stableford / Stone via Getty Images
Gold Digger: Has gold lost its spark? Probably not
Mining
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On August 12 the gold spot price plummeted 5.7 per cent – the biggest one day drop in over seven years.
This had an immediate impact on investor sentiment with just 27 per cent of the stocks on our list — or 47 companies — registering gains over the last week.
But don’t stress.
Experts are calling this a small ‘correction’ to gold’s bullish run, rather than the beginning of a more bearish trend.
>> ASX gold stocks missing from our list? Email us @ [email protected] >>>
In this post, respected resources analyst and founding director of MineLife Gavin Wendt says this week’s tumble should be put into perspective.
“One session of retracement does not take away from gold’s overwhelmingly positive thematic,” he says.
“Gold’s rise did not start with COVID-19 — it began five years ago when it was trading at around $1,050 per ounce (almost doubling since then), with another price upleg from August 2018, when gold was trading around $1200 per ounce.”
It’s risen 66 per cent over the past two years, driven by question marks over the world economy, Wendt says.
“Fast forward to the present, when you combine a global health crisis with an economic crisis, you have a double-whammy that provides enormous uncertainty for authorities and governments, and their ability to deal with the consequences,” he says.
“Bear in mind that during the last crisis – the GFC – gold didn’t hit its peak until three years later, so there’s a lot more upside left in gold.”
Winners & Losers
Here’s how 173 ASX-listed gold stocks performed for the period August 10–14 [intraday]:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:
| TICKER | NAME | 1 WEEK RETURN % | 1 YEAR RETURN % | PRICE [INTRADAY FRIDAY] | MARKET CAP |
|---|---|---|---|---|---|
| AQI | ALICANTO MINERALS | 81 | 174 | 0.175 | $ 27,868,998.00 |
| GED | GOLDEN DEEPS | 58 | -27 | 0.02 | $ 5,962,932.00 |
| XTC | XANTIPPE RESOURCES | 50 | 0 | 0.003 | $ 12,223,693.00 |
| ANL | AMANI GOLD | 33 | -33 | 0.0015 | $ 11,757,295.00 |
| BRV | BIG RIVER GOLD | 29 | 172 | 0.051 | $ 63,263,248.00 |
| HMX | HAMMER METALS | 28 | 111 | 0.059 | $ 32,141,328.00 |
| AAJ | ARUMA RESOURCES | 27 | 17 | 0.008 | $ 7,975,897.50 |
| AVW | AVIRA RESOURCES | 26 | 152 | 0.007 | $ 7,975,000.00 |
| TRY | TROY RESOURCES | 24 | 8 | 0.13 | $ 79,007,968.00 |
| TAR | TARUGA MINERALS | 20 | 216 | 0.065 | $ 21,479,416.00 |
| DHR | DARK HORSE RESOURCES | 20 | -25 | 0.003 | $ 8,072,737.00 |
| BBX | BBX MINERALS | 19 | -4 | 0.22 | $ 79,294,920.00 |
| MKG | MAKO GOLD | 18 | 38 | 0.13 | $ 21,859,882.00 |
| GBZ | GBM RESOURCES | 17 | 264 | 0.135 | $ 39,474,148.00 |
| MTH | MITHRIL RESOURCES | 17 | 600 | 0.035 | $ 56,329,328.00 |
| DRE | DREADNOUGHT RESOURCES | 17 | 250 | 0.015 | $ 22,922,170.00 |
| BAR | BARRA RESOURCES | 17 | 33 | 0.029 | $ 15,509,409.00 |
| ONX | ORMINEX | 16 | -68 | 0.05 | $ 26,416,006.00 |
| CDT | CASTLE MINERALS | 14 | 167 | 0.016 | $ 7,298,086.50 |
| RMX | RED MOUNTAIN MINING | 14 | 45 | 0.008 | $ 8,104,294.00 |
| AXE | ARCHER MATERIALS | 14 | 275 | 0.465 | $ 102,081,448.00 |
| WWI | WEST WITS MINING | 13 | 225 | 0.026 | $ 26,601,284.00 |
| TBR | TRIBUNE RESOURCES | 13 | 7 | 8.45 | $ 430,238,240.00 |
| AMG | AUSMEX MINING GROUP | 12 | -67 | 0.04 | $ 19,164,890.00 |
| PUR | PURSUIT MINERALS | 11 | 150 | 0.02 | $ 7,429,217.50 |
| PUA | PEAK MINERALS | 11 | 45 | 0.031 | $ 14,333,237.00 |
| OKU | OKLO RESOURCES | 11 | 122 | 0.36 | $ 161,140,208.00 |
| BYH | BRYAH RESOURCES | 11 | -25 | 0.061 | $ 7,648,682.50 |
| CWX | CARAWINE RESOURCES | 10 | 41 | 0.225 | $ 16,612,807.00 |
| NWM | NORWEST MINERALS | 9 | -32 | 0.12 | $ 10,899,223.00 |
| ADV | ARDIDEN | 8 | 367 | 0.015 | $ 26,934,096.00 |
| FML | FOCUS MINERALS | 7 | 27 | 0.47 | $ 80,409,368.00 |
| ADN | ANDROMEDA METALS | 6 | -2 | 0.05 | $ 80,636,264.00 |
| TSO | TESORO RESOURCES | 6 | 355 | 0.2 | $ 83,351,440.00 |
| ALY | ALCHEMY RESOURCES | 5 | 54 | 0.02 | $ 10,459,963.00 |
| PDI | PREDICTIVE DISCOVERY | 5 | 401 | 0.083 | $ 65,087,016.00 |
| KCN | KINGSGATE CONSOLIDATED | 4 | 74 | 0.6 | $ 130,079,912.00 |
| GBR | GREAT BOULDER RESOURCES | 4 | 9 | 0.054 | $ 7,206,515.50 |
| CXU | CAULDRON ENERGY | 4 | 45 | 0.029 | $ 10,912,405.00 |
| MAT | MATSA RESOURCES | 3 | -12 | 0.16 | $ 34,060,104.00 |
| MLL | MALI LITHIUM | 3 | 30 | 0.155 | $ 49,188,956.00 |
| HRZ | HORIZON MINERALS | 3 | 0 | 0.155 | $ 83,800,416.00 |
| NES | NELSON RESOURCES | 3 | 75 | 0.072 | $ 8,036,150.00 |
| GWR | GWR GROUP | 3 | -35 | 0.072 | $ 18,338,128.00 |
| AUC | AUSGOLD | 2 | 68 | 0.043 | $ 48,112,932.00 |
| OKR | OKAPI RESOURCES | 2 | 5 | 0.21 | $ 7,929,430.50 |
| PGI | PANTERRA GOLD | 2 | 55 | 0.045 | $ 8,195,949.50 |
| MAU | MAGNETIC RESOURCES | 0 | 321 | 1.6 | $ 326,937,952.00 |
| TMX | TERRAIN MINERALS | 0 | 250 | 0.014 | $ 10,124,254.00 |
| AYR | ALLOY RESOURCES | 0 | 115 | 0.046 | $ 16,670,061.00 |
| CDV | CARDINAL RESOURCES | 0 | 45 | 0.72 | $ 378,737,664.00 |
| NVA | NOVA MINERALS | 0 | 43 | 0.051 | $ 59,466,756.00 |
| AZS | AZURE MINERALS | 0 | 36 | 0.17 | $ 30,556,782.00 |
| TAM | TANAMI GOLD | 0 | 32 | 0.077 | $ 81,081,696.00 |
| GML | GATEWAY MINING | 0 | 18 | 0.02 | $ 33,433,582.00 |
| ARM | AURORA MINERALS | 0 | 10 | 0.022 | $ 5,153,864.50 |
| NAG | NAGAMBIE RESOURCES | 0 | 6 | 0.055 | $ 27,496,280.00 |
| SMI | SANTANA MINERALS | 0 | 0 | 0.003 | $ 5,367,891.00 |
| ARN | ALDORO RESOURCES | 0 | -7 | 0.125 | $ 7,928,333.50 |
| SFM | SANTA FE MINERALS | 0 | -11 | 0.081 | $ 5,898,322.00 |
| LNY | LANEWAY RESOURCES | 0 | -11 | 0.008 | $ 26,425,462.00 |
| E2M | E2 METALS | 0 | -12 | 0.18 | $ 22,960,032.00 |
| GMN | GOLD MOUNTAIN | 0 | -16 | 0.048 | $ 34,662,784.00 |
| VKA | VIKING MINES | 0 | -17 | 0.01 | $ 3,764,614.25 |
| DTR | DATELINE RESOURCES | 0 | -50 | 0.002 | $ 24,630,234.00 |
| SBR | SABRE RESOURCES | 0 | -57 | 0.003 | $ 3,751,938.75 |
| CYL | CATALYST METALS | 0 | 3 | 2.68 | $ 204,351,248.00 |
| RND | RAND MINING | 0 | -31 | 2.19 | $ 129,319,224.00 |
| ARL | ARDEA RESOURCES | -1 | 22 | 0.585 | $ 72,139,768.00 |
| AME | ALTO METALS | -1 | 159 | 0.087 | $ 27,549,762.00 |
| BDC | BARDOC GOLD | -1 | -14 | 0.085 | $ 132,826,776.00 |
| HXG | HEXAGON ENERGY MATERIALS | -2 | -24 | 0.065 | $ 18,423,304.00 |
| ARS | ALT RESOURCES | -2 | 92 | 0.05 | $ 32,631,146.00 |
| KZR | KALAMAZOO RESOURCES | -2 | 175 | 0.7 | $ 82,115,104.00 |
| DAU | DAMPIER GOLD | -3 | 28 | 0.032 | $ 8,817,657.00 |
| MML | MEDUSA MINING | -3 | 6 | 0.91 | $ 188,053,840.00 |
| HAW | HAWTHORN RESOURCES | -3 | 150 | 0.15 | $ 43,357,028.00 |
| SIH | SIHAYO GOLD | -3 | 131 | 0.03 | $ 67,128,640.00 |
| STN | SATURN METALS | -3 | 123 | 0.895 | $ 73,000,728.00 |
| AMI | AURELIA METALS | -3 | 20 | 0.565 | $ 458,841,504.00 |
| BNR | BULLETIN RESOURCES | -4 | 200 | 0.075 | $ 13,446,981.00 |
| ERX | EXORE RESOURCES | -5 | 28 | 0.11 | $ 61,882,392.00 |
| CLA | CELSIUS RESOURCES | -5 | 11 | 0.02 | $ 14,824,144.00 |
| AWV | ANOVA METALS | -5 | 232 | 0.038 | $ 46,299,108.00 |
| GUL | GULLEWA | -5 | 200 | 0.09 | $ 14,613,579.00 |
| BCN | BEACON MINERALS | -5 | -35 | 0.037 | $ 100,249,928.00 |
| VRC | VOLT RESOURCES | -6 | 14 | 0.018 | $ 36,369,996.00 |
| NUS | NUSANTARA RESOURCES | -6 | 46 | 0.335 | $ 71,214,064.00 |
| SLZ | SULTAN RESOURCES | -6 | 143 | 0.165 | $ 10,259,428.00 |
| PRX | PRODIGY GOLD | -6 | -49 | 0.075 | $ 41,805,188.00 |
| NCM | NEWCREST MINING | -6 | -7 | 34.23 | $ 27,828,051,968.00 |
| RXL | ROX RESOURCES | -6 | 76 | 0.06 | $ 112,245,568.00 |
| DGR | DGR GLOBAL | -6 | -19 | 0.072 | $ 55,186,388.00 |
| DGO | DGO GOLD | -7 | 275 | 2.9 | $ 172,298,832.00 |
| RML | RESOLUTION MINERALS | -7 | 154 | 0.072 | $ 19,283,484.00 |
| RRL | REGIS RESOURCES | -7 | -5 | 5.54 | $ 2,770,533,120.00 |
| CHN | CHALICE GOLD MINES | -7 | 437 | 1.02 | $ 293,666,784.00 |
| GSN | GREAT SOUTHERN MINING | -7 | 176 | 0.14 | $ 55,227,928.00 |
| RED | RED 5 | -7 | -20 | 0.265 | $ 489,897,440.00 |
| CTO | CITIGOLD CORP | -7 | 117 | 0.013 | $ 33,815,252.00 |
| KGM | KALNORTH GOLD MINES | -7 | 30 | 0.013 | $ 11,625,121.00 |
| CAI | CALIDUS RESOURCES | -7 | 44 | 0.565 | $ 150,484,288.00 |
| EVN | EVOLUTION MINING | -8 | 9 | 5.97 | $ 9,442,453,504.00 |
| MZZ | MATADOR MINING | -8 | 33 | 0.425 | $ 64,182,068.00 |
| EMR | EMERALD RESOURCES | -8 | 51 | 0.6 | $ 298,566,272.00 |
| VMC | VENUS METALS | -8 | -2 | 0.235 | $ 36,258,884.00 |
| KRM | KINGSROSE MINING | -8 | -27 | 0.035 | $ 26,280,264.00 |
| WMX | WILUNA MINING | -8 | -24 | 1.3 | $ 121,568,784.00 |
| NXM | NEXUS MINERALS | -8 | 44 | 0.069 | $ 10,038,349.00 |
| CMM | CAPRICORN METALS | -8 | 69 | 1.9125 | $ 636,131,392.00 |
| CY5 | CYGNUS GOLD | -8 | 129 | 0.175 | $ 12,128,918.00 |
| GRL | GODOLPHIN RESOURCES | -8 | 10 | 0.22 | $ 13,934,957.00 |
| SBM | ST BARBARA | -9 | -14 | 3.4 | $ 2,313,510,400.00 |
| ERM | EMMERSON RESOURCES | -9 | -25 | 0.105 | $ 47,319,680.00 |
| SAR | SARACEN MINERAL HOLDINGS | -9 | 24 | 5.57 | $ 5,967,183,872.00 |
| PRU | PERSEUS MINING | -9 | 61 | 1.46 | $ 1,660,776,192.00 |
| GOR | GOLD ROAD RESOURCES | -9 | 5 | 1.735 | $ 1,473,873,920.00 |
| SAU | SOUTHERN GOLD | -9 | -9 | 0.15 | $ 19,249,314.00 |
| CGN | CRATER GOLD MINING | -9 | -50 | 0.01 | $ 12,274,959.00 |
| KWR | KINGWEST RESOURCES | -9 | -46 | 0.15 | $ 17,676,280.00 |
| BRB | BREAKER RESOURCES | -9 | -37 | 0.25 | $ 62,491,460.00 |
| LEX | LEFROY EXPLORATION | -10 | 43 | 0.305 | $ 27,633,854.00 |
| BC8 | BLACK CAT SYNDICATE | -10 | 89 | 0.81 | $ 86,529,936.00 |
| ALK | ALKANE RESOURCES | -10 | 153 | 1.075 | $ 627,987,584.00 |
| RGL | RIVERSGOLD | -10 | 259 | 0.054 | $ 16,577,125.00 |
| AAR | ANGLO AUSTRALIAN RESOURCES | -10 | 177 | 0.18 | $ 79,547,936.00 |
| MSR | MANAS RESOUCES | -10 | -10 | 0.0045 | $ 13,215,812.00 |
| DEG | DE GREY MINING | -10 | 1167 | 0.77 | $ 859,968,064.00 |
| MOH | MOHO RESOURCES | -10 | 136 | 0.135 | $ 7,973,162.00 |
| TLM | TALISMAN MINING | -10 | 51 | 0.13 | $ 24,261,690.00 |
| SKY | SKY METALS | -10 | 33 | 0.13 | $ 39,637,144.00 |
| OAU | ORA GOLD | -11 | 55 | 0.017 | $ 13,453,524.00 |
| A1G | AFRICAN GOLD | -11 | 10 | 0.17 | $ 10,002,000.00 |
| DCN | DACIAN GOLD | -11 | -56 | 0.3475 | $ 191,929,264.00 |
| MCT | METALICITY | -12 | 279 | 0.025 | $ 32,545,784.00 |
| RSG | RESOLUTE MINING | -12 | -36 | 1.25 | $ 1,334,420,608.00 |
| WGX | WESTGOLD RESOURCES | -12 | -1 | 2.2 | $ 911,899,712.00 |
| GMR | GOLDEN RIM RESOURCES | -12 | -12 | 0.015 | $ 19,131,946.00 |
| AUT | AUTECO MINERALS | -12 | 2983 | 0.185 | $ 289,928,096.00 |
| GNM | GREAT NORTHERN MINERALS | -12 | 120 | 0.022 | $ 17,263,830.00 |
| MEU | MARMOTA | -12 | 132 | 0.053 | $ 49,369,720.00 |
| KTA | KRAKATOA RESOURCES | -13 | 250 | 0.077 | $ 18,319,350.00 |
| MEI | METEORIC RESOURCES | -13 | 23 | 0.048 | $ 59,103,088.00 |
| TTM | TITAN MINERALS | -13 | -27 | 0.14 | $ 143,294,928.00 |
| MKR | MANUKA RESOURCES | -13 | 160 | 0.53 | $ 104,373,880.00 |
| SVL | SILVER MINES | -13 | 81 | 0.255 | $ 207,075,632.00 |
| NST | NORTHERN STAR RESOURCES | -13 | 10 | 14.27 | $ 10,741,102,592.00 |
| BGL | BELLEVUE GOLD | -13 | 69 | 1.025 | $ 800,288,640.00 |
| TIE | TIETTO MINERALS | -14 | 121 | 0.53 | $ 208,648,320.00 |
| G88 | GOLDEN MILE RESOURCES | -14 | -8 | 0.054 | $ 5,172,594.50 |
| RMS | RAMELIUS RESOURCES | -14 | 46 | 1.975 | $ 1,559,521,920.00 |
| MHC | MANHATTAN CORP | -14 | 650 | 0.031 | $ 38,462,084.00 |
| TSC | TWENTY SEVEN CO | -14 | 20 | 0.005 | $ 7,431,604.50 |
| AGS | ALLIANCE RESOURCES | -15 | 108 | 0.205 | $ 36,551,516.00 |
| DTM | DART MINING | -15 | 105 | 0.205 | $ 14,991,821.00 |
| VAN | VANGO MINING | -15 | -39 | 0.115 | $ 99,767,344.00 |
| MAR | MALACHITE RESOURCES | -15 | -49 | 0.051 | $ 4,254,588.50 |
| WAF | WEST AFRICAN RESOURCES | -15 | 116 | 0.955 | $ 792,648,576.00 |
| SLR | SILVER LAKE RESOURCES | -15 | 72 | 2.255 | $ 1,954,148,992.00 |
| HRN | HORIZON GOLD | -15 | 94 | 0.47 | $ 40,069,244.00 |
| MGV | MUSGRAVE MINERALS | -16 | 668 | 0.62 | $ 283,465,376.00 |
| CST | CASTILE RESOURCES | -16 | 15 | 0.23 | $ 45,933,328.00 |
| MDI | MIDDLE ISLAND RESOURCES | -17 | 186 | 0.021 | $ 55,565,568.00 |
| TNR | TORIAN RESOURCES | -17 | 74 | 0.015 | $ 10,970,846.00 |
| GSM | GOLDEN STATE MINING | -17 | 328 | 0.33 | $ 21,331,756.00 |
| RDS | REDSTONE RESOURCES | -18 | 40 | 0.015 | $ 7,281,820.00 |
| MTC | METALSTECH | -19 | 1094 | 0.215 | $ 28,477,718.00 |
| AOP | APOLLO CONSOLIDATED | -20 | 16 | 0.345 | $ 92,837,976.00 |
| ARV | ARTEMIS RESOURCES | -20 | 167 | 0.083 | $ 86,227,784.00 |
| CHZ | CHESSER RESOURCES | -22 | 386 | 0.185 | $ 67,936,464.00 |
| DCX | DISCOVEX RESOURCES | -22 | 0 | 0.007 | $ 9,569,313.00 |
| NAE | NEW AGE EXPLORATION | -25 | 125 | 0.009 | $ 8,887,804.00 |
| MLS | METALS AUSTRALIA | -33 | 0 | 0.003 | $ 6,414,705.50 |
WEEKLY SMALL CAP HIGHLIGHTS
Copper-gold explorer Alicanto Minerals (ASX:AQI) appeared on investor radars earlier this month when certified company maker Ray Shorrocks joined the board .
This week the company announced a new drilling campaign at the Greater Falun project in Sweden, starting in September.
Shorrocks says people are already calling Alicanto ‘Bellevue (ASX:BGL) Mark 3’ or ‘Auteco (ASX:AUT) Mark 2’.
“I guarantee I would not have joined this board if we were chasing 200,000oz deposits,” he says. “We are looking for the high-grade, big tonnage stuff here.”
Explorer Golden Deeps (ASX:GED) went on a run after a $2.35m placement ostensibly attracted $12m worth of bids.
The funds will be used to explore the company’s recently acquired and historically underexplored gold projects in the red hot Lachlan Fold Belt in NSW.
And notable investor Stephen Copulos has picked up an 8.37 per cent stake in WA-focused microcap Aruma Resources (ASX:AAJ).
Copulos is best known for his holdings in Myer (ASX:MYR) and New Zealand-listed fast food play Restaurant Brands.
