Gold Digger: Here are August’s top performing gold stocks
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August was a rollercoaster for the gold price, but — after a chaotic flash crash saw it plummet into the $US1600s earlier in the month — it ended up where it started.
Gold is one of the year’s worst performing metals, but we are living through a commodities super cycle; ‘worst performer’ is not as bad as it sounds.
Especially for producers, which reported record FY21 profits thanks to that record-high gold price run through August last year.
Perseus Mining (ASX:PRU) saw a 48% rise in net profit after tax (NPAT) to $139.4 million in FY2021 and an 11% increase in EBITDA to $303.1m.
Ramelius Resources (ASX:RMS) reported a record profit for FY21 of $126.8m and will pay a full franked 2.5c per share dividend.
Meanwhile, Northern Star (ASX:NST) sold ~1.6Moz of gold at a record average price of $2277/oz.
That generated a statutory NPAT of $1.03 billion.
Evolution Mining (ASX:AVN) disappointed with production figures that showed gold output falling from 746,463oz in 2020 to 680,788/oz in 2021.
But its financials were well received, with ‘sector leading’ costs of $1215 an ounce helping the Sydney-based gold miner to a 14% increase in profit to a record $354.3 million.
Then there’s the ASX’s largest goldie Newcrest Mining (ASX:NCM), which produced 2.1Moz of gold and 142,700 tonnes of copper for a $1.2 billion profit. Another record.
Here’s how ASX-listed gold & silver stocks are performing:
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Market Cap: $39m
Any ASX stock with exposure to lithium, including Ardiden, went mental earlier in the month.
The Canadian gold explorer recently inked a JV with Green Technology Metals (GTM) to explore and potentially develop ADV’s non-core lithium assets in Ontario.
GTM would progressively acquire up to 80% ownership of the lithium tenements for $9.2 million, subject to shareholder approval.
Market Cap: $38m
More high grade gold from the ‘Wallbrook’ project in WA, where new hits like 10m at 5.49g/t gold – which ended in mineralisation — follow on from some solid results earlier in August.
“These high-grade results from the Crusader prospect have again shown excellent continuity of mineralisation with broad, high-grade gold intersected,” managing director Andy Tudor says.
“With highly encouraging results from all holes in this RC drilling campaign, we are eagerly awaiting to see the geology and the potential mineralisation in the drilling from the diamond tails currently being drilled at Crusader.”
The drilling program now moves to the nearby Templar prospect where a 6,000m program is nearing completion.
Results from the initial 50% of the program are expected very soon, Nexus says.
Market Cap: $9m
Like Ardiden, Aruma’s main game is gold with a side of lithium.
While explorers love to make these sorts of comparisons, Aruma is going to test the theory with a maiden 12-hole drilling program in September.
Market Cap: $7m
Australasian Gold hit the bourse earlier this year with a focus on Queensland gold, but this share price gain was, once again, lithium related.
The stock has lodged a tenement application in the Mt Peake pegmatite district in Northern Territory.
The ground, which covers over 640sqkm and shares a boundary with Core Lithium’s (ASX:CXO) ‘Anningie’ lithium project, will be the focus on an upcoming field mapping campaign.