Gold Digger: Have gold prices bottomed?

Pic: Getty

Your weekly recap of the news driving ASX small cap gold stocks.

The major gold miners were obliterated alongside everyone else last week.

The ASX’s big three producers – Newcrest Mining (ASX:NCM), Northern Star (ASX:NST) and Evolution (ASX:EVN) — shed 14 per cent, 23 per cent and 13 per cent off their respective market caps.

Mid-tier guys like Ramelius Resources (ASX:RMS), Gold Road Resources (ASX:GOR) and Perseus (ASX:PRU) copped it worse with losses of +30 per cent.

To get a sense of the carnage you only have to look at the numbers. Just two of the 141 gold facing stocks on our list made a small gain over the last week — Victorian explorer GBM Resources (ASX:GBZ) and Cambodian project developer Emerald Resources (ASX:EMR).

That’s some super rarefied air.

Here’s how ASX gold stocks performed for the period March 9 — March 16 [intraday]:

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

TICKER	NAME	1 WEEK TOTAL RETURN	1 MONTH TOTAL RETURN	PRICE [INTRADAY MONDAY]	MARKET CAP [$AU]
NCM	NEWCREST MINING	-14.0%	-10.3%	23.42	$18,690,578,432
NST	NORTHERN STAR RESOURCES	-23.3%	-17.9%	9.54	$8,932,388,864
EVN	EVOLUTION MINING	-12.9%	-9.0%	3.56	$6,664,221,184
SAR	SARACEN MINERAL HOLDINGS	-24.9%	-22.0%	3.105	$3,804,973,568
RRL	REGIS RESOURCES	-19.7%	-20.2%	3.06	$1,707,486,336
SBM	ST BARBARA	-26.3%	-31.1%	1.745	$1,398,322,176
SLR	SILVER LAKE RESOURCES	-22.2%	-27.5%	1.145	$1,117,401,984
PRU	PERSEUS MINING	-35.5%	-40.3%	0.7125	$1,022,048,576
GOR	GOLD ROAD RESOURCES	-34.9%	-43.0%	0.89	$900,874,368
RSG	RESOLUTE MINING	-26.0%	-35.0%	0.675	$755,826,240
WGX	WESTGOLD RESOURCES	-31.1%	-34.2%	1.425	$663,833,920
RMS	RAMELIUS RESOURCES	-35.3%	-31.5%	0.835	$655,318,784
WAF	WEST AFRICAN RESOURCES	-20.2%	-6.6%	0.455	$435,239,424
ALK	ALKANE RESOURCES	-24.5%	-38.1%	0.555	$368,321,152
CMM	CAPRICORN METALS	-27.3%	-23.2%	1	$326,694,816
DCN	DACIAN GOLD	0.0%	0.0%	1.4	$319,798,176
TBR	TRIBUNE RESOURCES	-8.5%	-5.6%	4.65	$263,639,360
RED	RED 5	-33.3%	-26.7%	0.195	$261,467,904
BGL	BELLEVUE GOLD	-31.2%	-31.2%	0.365	$225,116,240
DEG	DE GREY MINING	-17.0%	-7.1%	0.18	$215,180,672
CYL	CATALYST METALS	-17.6%	-21.3%	2.17	$204,350,608
SPX	SPECTRUM METALS	-29.3%	-26.7%	0.094	$165,659,248
EMR	EMERALD RESOURCES	2.6%	-16.7%	0.037	$144,686,528
CDV	CARDINAL RESOURCES	-26.5%	-33.3%	0.35	$141,081,984
RND	RAND MINING	-22.4%	-27.7%	1.5	$105,259,832
MAU	MAGNETIC RESOURCES NL	-27.6%	-42.5%	0.42	$103,695,528
MML	MEDUSA MINING	-25.8%	-36.0%	0.44	$102,858,176
BCN	BEACON MINERALS	-6.7%	-17.6%	0.028	$88,617,616
KCN	KINGSGATE CONSOLIDATED	-22.0%	-33.6%	0.34	$84,834,728
OKU	OKLO RESOURCES	-33.3%	-31.9%	0.16	$80,293,232
DGO	DGO GOLD	-17.5%	-9.3%	1.65	$76,370,624
VAN	VANGO MINING	-6.7%	-21.6%	0.098	$70,964,192
BDC	BARDOC GOLD	-21.3%	-39.2%	0.048	$66,994,324
TIE	TIETTO MINERALS	-31.8%	-48.3%	0.14	$58,596,312
SVL	SILVER MINES	-33.0%	-37.0%	0.057	$57,169,656
CAI	CALIDUS RESOURCES	-26.7%	-18.5%	0.205	$53,672,264
TTM	TITAN MINERALS	-13.8%	-44.8%	0.069	$53,374,848
CHN	CHALICE GOLD MINES	-30.6%	-43.3%	0.17	$52,072,944
AAR	ANGLO AUSTRALIAN RESOURCES	-18.5%	0.0%	0.11	$49,618,340
BBX	BBX MINERALS	-28.6%	-37.5%	0.11	$49,607,004
TAM	TANAMI GOLD NL	-8.7%	-16.0%	0.036	$49,354,076
AOP	APOLLO CONSOLIDATED	-27.3%	-33.3%	0.16	$47,091,728
BLK	BLACKHAM RESOURCES	-11.1%	-20.0%	0.008	$47,072,340
ADN	ANDROMEDA METALS	-27.9%	-27.9%	0.029	$45,516,748
NUS	NUSANTARA RESOURCES	-11.1%	-17.2%	0.225	$45,126,088
TRY	TROY RESOURCES	-28.4%	-30.8%	0.061	$44,876,528
BRB	BREAKER RESOURCES NL	-44.1%	-48.0%	0.12	$39,324,412
GMN	GOLD MOUNTAIN	-16.7%	-15.4%	0.055	$38,715,676
BSR	BASSARI RESOURCES	0.0%	25.0%	0.015	$35,816,324
FML	FOCUS MINERALS	-26.8%	-38.8%	0.16	$32,894,742
ERM	EMMERSON RESOURCES	-26.8%	-30.2%	0.07	$32,713,748
ARL	ARDEA RESOURCES	-32.4%	-49.5%	0.225	$31,671,118
HRZ	HORIZON MINERALS	-12.5%	-30.0%	0.069	$31,456,178
HAW	HAWTHORN RESOURCES	-20.0%	-2.4%	0.08	$31,028,484
STN	SATURN METALS	-11.6%	-5.6%	0.42	$29,275,714
ARV	ARTEMIS RESOURCES	-13.8%	-19.4%	0.023	$28,668,278
DGR	DGR GLOBAL	-21.9%	-33.3%	0.05	$28,206,366
RXL	ROX RESOURCES	-26.9%	-38.7%	0.018	$27,700,998
BRV	BIG RIVER GOLD	-41.9%	-25.0%	0.017	$27,661,148
PRX	PRODIGY GOLD NL	-34.5%	-33.3%	0.036	$24,386,360
ONX	ORMINEX	-35.7%	-54.4%	0.036	$23,720,496
MEU	MARMOTA	0.0%	-21.6%	0.027	$23,670,982
BC8	BLACK CAT SYNDICATE	-28.6%	-32.4%	0.25	$23,570,294
VMC	VENUS METALS CORP	-26.3%	-36.4%	0.14	$23,417,196
KRM	KINGSROSE MINING	-10.0%	-18.2%	0.029	$21,170,214
MAT	MATSA RESOURCES	-32.0%	-39.3%	0.089	$20,195,646
GML	GATEWAY MINING	-7.1%	0.0%	0.012	$20,094,240
AMG	AUSMEX MINING GROUP	-12.2%	-36.8%	0.04	$19,618,384
MLL	MALI LITHIUM	-26.4%	-41.8%	0.05	$18,088,842
SIH	SIHAYO GOLD	-50.0%	-50.0%	0.008	$16,782,160
DTR	DATELINE RESOURCES	-25.0%	-25.0%	0.002	$16,420,156
NAG	NAGAMBIE RESOURCES	0.0%	-23.4%	0.036	$16,197,564
AGS	ALLIANCE RESOURCES	-16.7%	-13.0%	0.1	$16,174,025
AME	ALTO METALS	-1.8%	61.8%	0.055	$16,135,558
HRN	HORIZON GOLD LIMITED	-27.1%	2.9%	0.175	$16,071,430
GSN	GREAT SOUTHERN MINING	-14.6%	-31.7%	0.032	$15,325,468
LNY	LANEWAY RESOURCES	-9.1%	-16.7%	0.005	$14,880,264
CWX	CARAWINE RESOURCES	-37.5%	-46.4%	0.145	$14,294,487
LEX	LEFROY EXPLORATION	-21.9%	-37.5%	0.125	$14,068,144
GWR	GWR GROUP	-19.1%	-28.6%	0.055	$14,008,292
AUC	AUSGOLD	-35.3%	-35.3%	0.01	$13,274,394
AQI	ALICANTO MINERALS	-38.9%	-41.3%	0.042	$12,667,726
NWM	NORWEST MINERALS	-6.3%	36.4%	0.15	$12,576,027
MDI	MIDDLE ISLAND RESOURCES	-20.0%	60.0%	0.008	$12,356,948
KWR	KINGWEST RESOURCES	-34.5%	-52.5%	0.12	$12,190,538
E2M	E2 METALS	-8.3%	-29.0%	0.11	$11,483,723
TLM	TALISMAN MINING	-5.8%	-19.8%	0.06	$11,384,331
CGN	CRATER GOLD MINING	-10.0%	-18.2%	0.009	$11,047,463
GBZ	GBM RESOURCES	6.7%	3.2%	0.062	$10,608,941
SAU	SOUTHERN GOLD	-33.3%	-47.1%	0.14	$10,599,451
CTO	CITIGOLD CORP	-25.0%	-40.0%	0.003	$9,684,693
RML	RESOLUTION MINERALS	-8.3%	-22.5%	0.05	$9,627,183
ARS	ALT RESOURCES	-20.0%	-27.3%	0.014	$9,399,758
WWI	WEST WITS MINING	-20.0%	-42.9%	0.008	$9,375,310
ANL	AMANI GOLD	-25.0%	-25.0%	0.0015	$9,203,175
OAU	ORA GOLD	-26.3%	-30.0%	0.011	$9,045,833
BAR	BARRA RESOURCES	-22.2%	-30.0%	0.014	$8,947,736
HMX	HAMMER METALS	-23.8%	-33.3%	0.014	$8,382,462
GMR	GOLDEN RIM RESOURCES	-12.5%	-30.0%	0.007	$8,140,763
KTA	KRAKATOA RESOURCES	-34.0%	-3.1%	0.031	$7,437,500
TSC	TWENTY SEVEN CO	-33.3%	-50.0%	0.004	$7,431,605
SMI	SANTANA MINERALS	-37.5%	-37.5%	0.002	$6,709,864
DAU	DAMPIER GOLD	0.0%	17.4%	0.027	$6,425,622
AWV	ANOVA METALS	-10.0%	19.1%	0.005	$6,202,191
MKG	MAKO GOLD	-6.3%	-15.5%	0.06	$6,040,552
ALY	ALCHEMY RESOURCES	-9.1%	0.0%	0.01	$5,505,244
GUL	GULLEWA	-12.5%	6.1%	0.035	$5,429,309
MSR	MANAS RESOUCES	0.0%	0.0%	0.002	$5,286,325
CXU	CAULDRON ENERGY	0.0%	7.1%	0.015	$5,144,348
DHR	DARK HORSE RESOURCES	0.0%	-33.3%	0.002	$4,928,793
SFM	SANTA FE MINERALS	0.0%	-8.6%	0.064	$4,660,403
NXM	NEXUS MINERALS	-7.1%	-11.4%	0.035	$4,611,382
PGI	PANTERRA GOLD	-14.8%	-14.8%	0.023	$4,488,258
MTH	MITHRIL RESOURCES	-10.0%	-18.2%	0.008	$4,413,503
GBR	GREAT BOULDER RESOURCES	-21.6%	-21.6%	0.029	$3,870,166
BNR	BULLETIN RESOURCES	-16.0%	-19.2%	0.021	$3,765,155
PDI	PREDICTIVE DISCOVERY	-14.3%	-25.0%	0.005	$3,644,503
KGM	KALNORTH GOLD MINES	0.0%	0.0%	0.004	$3,576,960
A1G	AFRICAN GOLD	-44.4%	-61.5%	0.05	$3,486,000
AYR	ALLOY RESOURCES	-50.0%	-33.3%	0.001	$3,404,395
SLZ	SULTAN RESOURCES	0.0%	-10.3%	0.07	$3,333,771
TAR	TARUGA MINERALS	-27.3%	-42.9%	0.008	$3,245,349
MLS	METALS AUSTRALIA	-33.3%	0.0%	0.001	$3,207,353
MOH	MOHO RESOURCES NL	-14.3%	-39.4%	0.06	$3,189,265
GSM	GOLDEN STATE MINING	-21.1%	-13.8%	0.076	$3,113,227
GED	GOLDEN DEEPS	0.0%	-47.6%	0.011	$3,086,694
DTM	DART MINING NL	-21.9%	-23.1%	0.05	$2,945,955
TMX	TERRAIN MINERALS	-25.0%	-25.0%	0.003	$2,892,644
CY5	CYGNUS GOLD	-40.5%	-50.0%	0.024	$2,798,294
PUA	PURE ALUMINA	-38.9%	-8.3%	0.012	$2,439,369
OKR	OKAPI RESOURCES	-21.2%	-31.6%	0.052	$2,378,829
AVW	AVIRA RESOURCES	0.0%	0.0%	0.002	$2,250,000
RGL	RIVERSGOLD	-18.2%	-10.0%	0.009	$2,225,284
TNR	TORIAN RESOURCES	-33.3%	-33.3%	0.006	$2,217,918
GNM	GREAT NORTHERN MINERALS	0.0%	-28.6%	0.005	$1,734,679
ARM	AURORA MINERALS	0.0%	-22.2%	0.006	$1,639,866
VKA	VIKING MINES	-28.6%	-44.4%	0.005	$1,568,589
AAJ	ARUMA RESOURCES	-33.3%	-20.0%	0.002	$1,418,828
NES	NELSON RESOURCES	-40.0%	-47.5%	0.021	$1,320,544
CDT	CASTLE MINERALS	-16.7%	-54.5%	0.005	$1,186,156

Here’s the good news

Last week, spot prices fall as low as $US1,513 ($2,439) per ounce from $US1,700.90 just days before. But Commentators waved off concerns about the drop, saying that similar falls occurred during the 2008 crisis as investors sold gold to gain liquidity.

On Monday, prices showed signs of an early recovery after the US Federal Reserve aggressively cut rates to zero and launched a massive $US700bn quantitative easing program; with potentially more to come.

Edward Moya, senior market analyst at Oanda Corp, boldly predicted gold was “slowly getting its groove back.”

“Gold prices will ultimately benefit from all this global monetary and fiscal stimulus,” Moya says.

“Gold should grind its way back above the $US1,600 an ounce after we see all the other central banks ramp up their efforts this week.”