Gold Digger: Here are the 5 best performing ASX gold stocks over the past month

Have gold prices hit bottom?

DoubleLine chief executive Jeffrey Gundlach certainly believes so, as does UK research firm Capital Economics.

The precious metal slipped below the $US1,690 ($2,181.68) mark before rebounding to $US1,730.10 an ounce yesterday after US bond yields retreated and the US Government passed its $US1.9 trillion COVID-19 relief bill.

Either way, sentiment is solid — investors are still rewarding explorers with exciting stories to tell.
 

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

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Top 5 Performers of the last month

LEFROY EXPLORATION (ASX:LEX) +202%

Market Cap: ~$75m

Lefroy — led by former Newmont senior exploration manager Wade Johnson — has methodically explored its ground around Kalgoorlie for a few years now.

Last month, the game changer arrived.

A 22-hole drilling program, designed to test both length and depth of the ‘Burns’ system, now appears to have hit the motherlode.

The highlight intercept was:

  • 60m at 5.22g/t gold and 0.38 per cent copper from 112m down-hole, including
  • 20m at 12.2g/t gold, 0.87 per cent copper and 1.7g/t silver from 144m.

Gigantic. The hole also ended in mineralisation, which remains ‘open’ on all sides.

 

ASTON MINERALS (ASX:ASO) +144%

Market Cap: ~$50m

Aston soared earlier this week after hitting visible gold in drilling at the Edleston project in Canada, where +$10.8m had already been spent on drilling and geophysics by previous owners.

These abovementioned explorers hit grades like 5.3m at 81.39g/t gold, 110m from surface, but could never put it all together.

Aston is hoping to find what they missed. The ~$50m market cap stock is now up ~40 per cent over the past three days.

 

TORIAN RESOURCES (ASX:TNR) +57%

Market Cap: ~$45m

Torian is going big. Really, really big.

The explorer wants to purchase the 424,748 acre Tarmoola Station (yes, you read that right).

Discussions with financiers (including the Big 4 banks) indicates that a majority of the purchase may be debt funded and non-dilutionary for shareholders, it says.

Tarmoola Station is 50% covered by mining or exploration leases, including operating and abandoned mines like Torian’s Mt Stirling project, Red 5’s (ASX:RED) KOTH Operation; Round Oak Minerals’ Jaguar project, and the operating Bentley underground mine.

Torian would even score Carhill Contracting, a mining services business which is cash flow positive, and 700 head of cattle in the deal.

“There are substantial access benefits by holding pastoral leases,” Torian executive director  Peretz Schapiro says.

“Owning and controlling the pastoral lease on which the majority of our flagship project lies, in addition to the accommodation facilities and earth moving equipment, gives us enormous flexibility when it comes to our future exploration plans, as we continue to put runs on the board, prove up and expand on multiple targets and deposits to deliver JORC resources in the region.

“Furthermore, we will be able to leverage our positions as owners of the station when it comes to negotiations with our neighbours within the Pastoral Lease, making us a significant player in the region.”

 

CARAWINE RESOURCES (ASX:CWX) +52%

Market Cap: ~$35m

Carawine announced highest grade gold hits to date at the ‘Hercules’ discovery — “further increasing the potential for [the prospect] to develop into a major new gold deposit”.

Hercules is part of the Tropicana North project in WA, a stone’s throw from the world class Tropicana mine which produced 112,000oz of gold in the December quarter.

Carawine is hitting multiple ‘lodes’ (rich sources of mineralisation) in drilling, with highlights including 18m at 11.3g/t from 136m across two lodes.

That’s impressively thick and high grade.

 

AMANI GOLD (ASX:ANL) +50%

Market Cap: ~$16m

Late last month, Amani Gold’s storied exec chairman Klaus Eckoff took on the additional role of managing director.

The minnow recently raised $3m to fund drilling, resource estimates and feasibility studies at the mammoth 4.4Moz Giro gold project in the Democratic Republic of the Congo.

DRC may not be the safest exploration destination, but how many sub $20m market cap explorers have a 4.4moz gold resource? Hardly any.

 

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