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:

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

CODE COMPANY 1 WEEK CHANGE % 1 MONTH CHANGE % 6 MONTH CHANGE % 1 YEAR CHANGE % PRICE MARKET CAP
LEX Lefroy Exploration 3 202 188 313 0.62 $ 75,006,041.88
PUR Pursuit Minerals 12 87 171 938 0.058 $ 40,456,549.27
TNR Torian Resources 0 57 241 763 0.058 $ 45,521,696.43
CWX Carawine Resources -4 52 46 60 0.335 $ 35,389,218.15
ANL Amani Gold 0 50 -25 0 0.0015 $ 16,180,495.12
AVW Avira Resources 40 40 -13 250 0.007 $ 8,250,240.00
WWI West Wits Mining 26 34 345 880 0.098 $ 134,786,971.29
AAU Antilles Gold 13 29 156 307 0.11 $ 20,489,873.15
G88 Golden Mile Res 8 27 -13 40 0.056 $ 6,396,953.06
AXE Archer Materials 9 27 68 390 1.01 $ 210,120,987.78
MLS Metals Australia 0 25 -17 150 0.0025 $ 10,477,258.94
ENR Encounter Resources -3 23 14 33 0.16 $ 48,912,373.97
MSR Manas Res 0 20 -25 200 0.006 $ 16,561,641.59
DTR Dateline Resources 0 20 0 50 0.003 $ 24,630,234.23
EMU EMU NL 3 20 103 110 0.061 $ 26,019,440.52
DTM Dart Mining NL 11 18 3 303 0.195 $ 20,488,822.58
TSC Twenty Seven Co. 17 17 -22 40 0.007 $ 13,821,085.72
HXG Hexagon Energy 17 15 88 159 0.105 $ 31,626,559.34
ADN Andromeda Metals 16 14 407 900 0.36 $ 787,388,156.86
YRL Yandal Resources -1 14 85 174 0.445 $ 41,651,221.70
BCN Beacon Minerals 3 14 11 24 0.041 $ 133,321,947.16
RGL Riversgold 0 14 -12 456 0.05 $ 20,376,652.00
SRN Surefire Rescs NL 13 13 59 1250 0.027 $ 29,623,331.07
ZNC Zenith Minerals 8 13 23 200 0.135 $ 39,738,604.05
SVY Stavely Minerals -2 12 36 65 0.735 $ 186,587,438.18
SI6 SI6 Metals Limited -5 12 36 533 0.019 $ 26,467,242.52
TMX Terrain Minerals 0 11 -33 150 0.01 $ 7,357,610.09
HMX Hammer Metals -15 11 145 447 0.093 $ 78,759,113.16
A1G African Gold . 13 11 98 297 0.26 $ 22,764,461.00
MAU Magnetic Resources -1 9 15 204 1.55 $ 335,065,634.35
AYM Australia United Min 20 9 200 500 0.012 $ 16,583,197.37
PAK Pacific American Hld 9 9 20 38 0.024 $ 7,646,037.60
DGO DGO Gold Limited -1 9 -25 52 2.73 $ 203,002,824.48
NES Nelson Resources. 5 8 50 397 0.105 $ 14,445,780.80
RMS Ramelius Resources 9 6 -34 36 1.52 $ 1,245,446,416.98
MML Medusa Mining 3 6 5 56 0.91 $ 191,243,436.92
MOH Moho Resources 5 5 -16 18 0.084 $ 8,656,842.77
AQI Alicanto Min 0 5 -18 98 0.115 $ 35,960,920.71
BBX BBX Minerals -4 4 -21 108 0.27 $ 115,026,127.64
GUL Gullewa Limited 0 3 6 131 0.09 $ 16,413,579.00
DEG De Grey Mining 3 3 -36 336 0.915 $ 1,160,254,854.90
DEX Duke Exploration -3 3 0.32 $ 18,101,103.30
VAN Vango Mining 23 3 -30 -29 0.069 $ 70,264,930.47
RND Rand Mining 9 3 -15 -8 1.75 $ 105,259,831.25
CST Castile Resources 12 3 -39 37 0.185 $ 35,947,821.78
CYL Catalyst Metals 4 2 -13 -13 2.08 $ 200,523,274.92
CAZ Cazaly Resources 2 2 5 95 0.043 $ 14,447,730.68
EMR Emerald Res NL 5 2 26 110 0.8 $ 402,009,821.46
RVR Red River Resources 0 2 81 305 0.235 $ 119,088,104.41
KRM Kingsrose Mining 4 2 28 72 0.05 $ 35,040,352.90
SLR Silver Lake Resource 12 1 -29 14 1.61 $ 1,436,967,763.45
MTC Metalstech 17 0 -15 247 0.17 $ 24,916,498.46
CTO Citigold Corp 8 0 8 225 0.013 $ 38,089,424.93
MDI Middle Island Res 8 0 -32 44 0.265 $ 30,584,055.00
NVA Nova Minerals 7 0 82 278 0.155 $ 250,491,997.05
BRB Breaker Res NL 5 0 -15 -11 0.205 $ 66,797,390.45
NWM Norwest Minerals 5 0 -37 -47 0.085 $ 9,251,415.22
AME Alto Metals Limited 4 0 -12 36 0.075 $ 33,769,480.13
PNR Pantoro Limited 2 0 -2 159 0.22 $ 309,847,610.16
XTC Xantippe Res 0 0 -33 0 0.002 $ 8,149,128.80
VKA Viking Mines 0 0 238 846 0.041 $ 37,316,040.12
TMZ Thomson Res 0 0 180 751 0.14 $ 46,693,941.98
TAM Tanami Gold NL 0 0 22 91 0.082 $ 95,182,860.73
SIH Sihayo Gold Limited 0 0 -41 35 0.013 $ 44,225,536.96
PNM Pacific Nickel Mines 0 0 43 -72 0.057 $ 8,537,151.52
KGM Kalnorth Gold 0 0 0 225 0.013 $ 11,625,120.78
GIB Gibb River Diamonds 0 0 56 105 0.078 $ 14,805,661.15
DRE Drednought Resources 0 0 -6 300 0.016 $ 36,189,559.06
AOP Apollo Consolidated 0 0 8 75 0.35 $ 99,574,103.55
DDD 3D Resources Limited 0 0 -38 150 0.005 $ 21,722,232.55
MVL Marvel Gold Limited -6 0 -12 17 0.045 $ 22,888,982.61
BC8 Black Cat Syndicate 9 -1 -8 135 0.705 $ 76,150,240.23
WAF West African Res 14 -1 -18 53 0.865 $ 790,104,098.13
ANX Anax Metals 3 -1 178 920 0.068 $ 23,430,263.54
BRV Big River Gold 7 -2 -15 108 0.4 $ 89,922,456.65
TAR Taruga Minerals 9 -2 -37 390 0.049 $ 22,402,873.79
TLM Talisman Mining -4 -2 -17 36 0.091 $ 16,983,183.04
MEU Marmota Limited 2 -2 -10 45 0.045 $ 43,584,016.05
WGX Westgold Resources. 7 -3 -11 19 2.1 $ 898,573,172.40
SKY SKY Metals 6 -3 40 -13 0.175 $ 43,163,719.90
GBR Greatbould Resources 0 -3 -19 33 0.038 $ 8,932,839.09
NSM Northstaw 2 -3 0.445 $ 18,200,000.00
CAI Calidus Resources 11 -3 -16 54 0.44 $ 147,214,952.22
KCN Kingsgate Consolid. -2 -3 -2 115 0.88 $ 200,209,956.90
IVR Investigator Res 1 -3 59 562 0.086 $ 117,831,248.02
MRZ Mont Royal Resources 4 -3 10 65 0.28 $ 8,302,717.50
GSM Golden State Mining -7 -3 -43 44 0.14 $ 9,911,335.00
NUS Nusantara Resources 2 -4 -11 15 0.27 $ 61,903,711.89
CGN Crater Gold Min 16 -4 100 144 0.022 $ 25,777,413.21
AGG AngloGold Ashanti 12 -5 -27 -2 5.82 $ 515,620,881.70
CHN Chalice Mining 0 -5 201 1967 4.34 $ 1,480,098,348.67
PRX Prodigy Gold NL 0 -5 -32 -11 0.041 $ 24,386,359.45
RXL Rox Resources 12 -5 -40 76 0.037 $ 75,843,653.13
OKU Oklo Resources 3 -5 -33 -10 0.175 $ 85,685,068.04
AGC AGC 0 -5 0.175 $ 11,852,274.70
MEG Megado -3 -6 0.17 $ 6,935,795.66
WRM White Rock Min -3 -6 -31 93 0.58 $ 43,621,219.80
GOR Gold Road Res 6 -6 -27 -2 1.16 $ 1,011,913,460.20
PRU Perseus Mining 4 -6 -14 27 1.18 $ 1,447,219,106.60
PDI Predictive Disc 10 -6 -12 981 0.064 $ 67,123,444.21
CY5 Cygnus Gold Limited 7 -6 -16 290 0.16 $ 17,291,215.68
KTA Krakatoa Resources 0 -6 -21 50 0.063 $ 17,852,800.00
NXM Nexus Minerals 4 -7 38 151 0.098 $ 23,926,863.76
GMN Gold Mountain -9 -7 0 -34 0.04 $ 29,750,496.96
MGV Musgrave Minerals 10 -7 -47 261 0.325 $ 178,629,687.92
RDS Redstone Resources 8 -7 -38 117 0.013 $ 8,627,988.76
NCM Newcrest Mining 4 -7 -22 -9 24.3 $ 19,940,310,560.28
BDC Bardoc Gold 4 -8 -8 35 0.074 $ 126,666,488.45
AMI Aurelia Metals -1 -8 -25 23 0.37 $ 444,357,549.00
CLA Celsius Resource 7 -8 100 475 0.046 $ 38,729,595.56
RDN Raiden Resources -4 -8 44 360 0.023 $ 26,670,669.98
ARL Ardea Resources -1 -8 5 57 0.51 $ 65,111,996.82
KSN Kingston Resources 13 -8 -10 69 0.22 $ 65,219,247.58
OAU Ora Gold Limited 0 -8 -8 16 0.022 $ 18,498,594.88
MTH Mithril Resources 18 -9 -57 100 0.02 $ 44,654,427.78
GML Gateway Mining 11 -9 43 100 0.03 $ 57,109,068.00
MKG Mako Gold 0 -9 -20 56 0.1 $ 24,952,435.39
ADV Ardiden 19 -10 -24 533 0.019 $ 38,597,726.41
SFM Santa Fe Minerals -17 -10 19 48 0.095 $ 6,917,784.96
ARV Artemis Resources 11 -10 11 204 0.082 $ 85,257,323.78
ALK Alkane Resources 6 -10 -37 1 0.72 $ 425,702,992.00
BNR Bulletin Res 3 -10 1 200 0.072 $ 12,550,515.18
OKR Okapi Resources -3 -10 -12 173 0.18 $ 8,094,613.50
MEI Meteoric Resources -9 -10 53 369 0.061 $ 81,517,075.42
PKO Peako Limited 13 -10 -47 153 0.026 $ 5,569,571.13
ADT Adriatic Metals 4 -10 -6 76 2.16 $ 397,191,571.92
KZR Kalamazoo Resources -10 -10 -39 10 0.43 $ 53,031,280.77
S2R S2 Resources 0 -11 -34 132 0.165 $ 50,382,588.64
MAT Matsa Resources 3 -11 -34 -15 0.089 $ 23,318,616.97
RSG Resolute Mining 1 -11 -36 -20 0.62 $ 689,932,941.25
CDT Castle Minerals 0 -11 -38 60 0.008 $ 5,860,006.54
FFR Firefly Resources -17 -11 -48 391 0.12 $ 34,619,546.18
NAG Nagambie Resources -5 -11 6 50 0.054 $ 25,496,549.65
SSR SSR Mining Inc. 10 -12 19.32 $ 349,262,976.48
HRN Horizon Gold 8 -12 -10 128 0.45 $ 39,509,436.15
NML Navarre Minerals -6 -12 15 81 0.15 $ 79,108,445.18
GBZ GBM Rsources 10 -12 -24 85 0.11 $ 45,466,896.30
SBM St Barbara Limited 3 -12 -37 -12 2.02 $ 1,410,716,228.00
PNX PNX Metals Limited 0 -13 -42 40 0.007 $ 25,565,354.58
BYH Bryah Resources -3 -13 12 37 0.056 $ 8,905,349.46
CMM Capricorn Metals 4 -13 -28 27 1.51 $ 510,802,588.40
DCN Dacian Gold 17 -13 26 -52 0.41 $ 225,385,964.37
HRZ Horizon 0 -13 -26 36 0.1 $ 56,797,520.00
SPQ Superior Resources 18 -13 86 362 0.013 $ 17,901,956.25
SMI Santana Minerals -7 -13 -59 -54 0.13 $ 14,824,242.68
CXU Cauldron Energy -6 -14 -14 113 0.032 $ 14,463,984.38
SLZ Sultan Resources 6 -14 -22 171 0.19 $ 13,211,533.91
OBM Ora Banda Mining -2 -14 -31 80 0.25 $ 210,555,489.25
RRL Regis Resources 1 -14 -42 -16 3.05 $ 1,602,644,757.27
HWK Hawkstone Mng -5 -14 106 825 0.037 $ 60,251,198.60
AUC Ausgold Limited 9 -14 29 277 0.049 $ 63,717,127.51
KAU Kaiser Reef -5 -14 4 71 0.36 $ 34,366,965.67
PUA Peak Minerals -8 -14 -27 116 0.024 $ 14,752,863.65
TBR Tribune Res -1 -15 -38 1 4.94 $ 257,093,577.30
GRL Godolphin Resources 5 -15 5 25 0.2 $ 16,822,084.40
CHZ Chesser Resources -3 -15 -6 146 0.17 $ 76,642,906.25
WCN White Cliff Min -6 -15 42 467 0.017 $ 8,792,338.78
FML Focus Minerals -5 -15 -23 77 0.31 $ 59,393,283.63
TIE Tietto Minerals 5 -15 -41 76 0.335 $ 147,854,023.20
TSO Tesoro Resources 0 -15 -11 288 0.195 $ 94,909,562.85
FFX Firefinch 16 -15 38 244 0.22 $ 164,218,568.85
RMX Red Mount Min 10 -15 22 175 0.011 $ 13,764,547.38
NAE New Age Exploration 0 -15 22 450 0.011 $ 13,414,972.01
VMC Venus Metals Cor -5 -16 -25 15 0.19 $ 28,704,949.77
EVN Evolution Mining 2 -16 -29 -2 3.98 $ 6,885,928,352.55
WMX Wiluna Mining Corp 2 -16 -35 35 1.08 $ 125,276,664.97
GWR GWR Group -2 -16 26 391 0.27 $ 75,696,610.75
MCT Metalicity Limited 33 -16 -33 515 0.016 $ 28,273,988.08
GTR Gti Resources 17 -16 -16 320 0.021 $ 12,890,359.96
TTM Titan Minerals 5 -16 -5 24 0.105 $ 119,642,505.57
M2R Miramar 2 -16 0.21 $ 9,078,916.80
CBY Canterbury Resources 0 -16 -13 0 0.105 $ 11,745,845.69
MZZ Matador Mining 0 -17 -29 100 0.3 $ 51,715,142.70
LNY Laneway Res 0 -17 -38 0 0.005 $ 18,875,329.67
GED Golden Deeps 0 -17 -41 -9 0.01 $ 7,748,514.40
BAR Barra Resources 0 -17 -9 33 0.02 $ 13,552,162.02
SAU Southern Gold -8 -17 -41 -31 0.083 $ 18,772,930.53
PRS Prospech Limited -4 -18 0 0.135 $ 8,777,779.52
AGS Alliance Resources 3 -19 -23 80 0.175 $ 36,402,998.45
RED Red 5 Limited -5 -19 -44 -36 0.175 $ 335,054,420.69
KAI Kairos Minerals 4 -19 -57 248 0.026 $ 43,587,464.02
TRY Troy Resources -4 -19 -34 -7 0.069 $ 50,756,772.46
ERM Emmerson Resources -8 -19 -34 -25 0.06 $ 28,005,524.69
REZ Resourc & En Grp -13 -19 70 162 0.034 $ 14,677,146.83
LCL Los Cerros Limited -4 -19 -14 291 0.125 $ 56,521,143.96
HAW Hawthorn Resources -4 -20 -30 8 0.072 $ 24,013,124.14
FAU First Au -6 -20 0 100 0.016 $ 9,814,060.06
THR Thor Mining PLC -7 -20 17 250 0.014 $ 6,329,077.72
AMG Ausmex Mining Gp -10 -20 6 18 0.052 $ 27,493,010.30
BAT Battery Minerals 8 -21 93 440 0.027 $ 53,073,112.07
PF1 Pathfinder Resources 23 -21 0.24 $ 11,187,942.75
ZAG Zuleika Gold -9 -22 25 48 0.04 $ 18,044,108.41
MKR Manuka Resources. -3 -22 -31 0.375 $ 33,123,936.72
CEL Challenger Exp -5 -22 30 78 0.285 $ 154,679,610.12
STN Saturn Metals -3 -22 -50 -13 0.35 $ 39,047,223.60
TRM Truscott Mining Corp -13 -22 17 200 0.021 $ 2,814,713.97
KWR Kingwest Resources -13 -22 -24 3 0.14 $ 21,517,140.12
NST Northern Star -1 -23 -28 -27 9.53 $ 11,355,198,985.44
SVL Silver Mines Limited 1 -23 -1 183 0.21 $ 242,806,767.07
E2M E2 Metals -7 -23 79 172 0.34 $ 51,053,858.04
AQX Alice Queen 8 -23 -29 50 0.027 $ 29,607,216.36
GNM Great Northern -9 -23 -55 67 0.01 $ 9,079,196.04
AAR Anglo Australian -7 -23 -53 -20 0.092 $ 54,188,771.33
BGL Bellevue Gold 8 -24 -24 73 0.78 $ 655,422,054.21
AUT Auteco Minerals 2 -25 -40 221 0.09 $ 141,046,104.24
AL8 Alderan Resource -10 -26 -38 290 0.078 $ 25,324,992.82
DCX Discovex Res 0 -26 0 75 0.007 $ 17,105,648.53
STK Strickland Metals -4 -26 -53 150 0.025 $ 10,528,788.03
AWV Anova Metals -5 -27 -39 140 0.019 $ 28,661,884.00
ONX Orminex -3 -27 -6 -29 0.032 $ 17,308,309.60
NPM Newpeak Metals 0 -29 -38 25 0.0025 $ 14,185,403.25
VRC Volt Resources -13 -30 -18 100 0.014 $ 33,324,593.41
AZS Azure Minerals 13 -30 41 288 0.31 $ 95,506,573.51
RML Resolution Minerals 0 -32 -54 -59 0.025 $ 10,167,453.62
GSN Great Southern -19 -33 -49 23 0.054 $ 27,301,225.20
ALY Alchemy Resource -7 -35 -24 33 0.013 $ 8,066,921.44
SNG Siren Gold 8 -35 0.4 $ 24,217,873.60
AAJ Aruma Resources 2 -37 -61 31 0.059 $ 6,251,694.69
BNZ Benzmining -7 -38 0.76 $ 22,804,036.36
GMR Golden Rim Resources -11 -38 -50 0 0.008 $ 20,234,353.08
MHC Manhattan Corp 6 -39 -65 240 0.017 $ 22,546,737.78
ARN Aldoro Resources -7 -40 90 58 0.19 $ 13,616,160.60
SBR Sabre Resources -10 -44 -65 125 0.0045 $ 8,415,318.25
LCY Legacy Iron Ore -7 -52 250 833 0.014 $ 89,666,339.24
ASO Aston Minerals 129 144 100 609 0.078 $ 50,560,000.00
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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.