Gold Digger: Here’s how 143 ASX gold stocks performed over the past week
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The gold price softened slightly over the past week from $1739/oz ($2531/oz) to $1731/oz ($2520/oz). That’s despite Federal Reserve Chairman Jerome Powell indicating, once again, his concerns regarding US economic recovery.
Still, $1800/oz (and above) remains the target. Strong gold prices and economic/social uncertainty go hand-in-hand (and there’s plenty of that to go around).
Here’s how ASX-listed gold stocks performed for the period June 15–19 [intraday]:
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The explorer was up ~90 per cent on a big gold hit at the ‘Grace’ prospect, part of its Youanmi project in WA.
This was from the deepest drilling at Grace to date. What could be exciting is that Grace is exhibiting a “ladder vein array geometry” – a feature of other granite-hosted gold deposits of the Yilgarn Craton such as Granny Smith.
Joint venture partner Venus Metals (ASX:VMC) also gained on the news, up almost 29 per cent for the week.
The Brazilian explorer has locked in $8m of “standby” equity funding with a US based investment group.
And despite ongoing high infection rates from COVID-19 in various parts of Brazil, BBX has been able to continue a test work program designed to fine tune a preferred extraction technique for the complex mineralisation identified at the Ema and Três Estados projects.
One of 2018 biggest performers, Vango has not fared so well over the last 12 months.
The advanced, high-grade gold explorer has now raised $17.4m to fund resource growth and mining studies at the 1-million-ounce Marymia gold project in WA. Multi-stage drilling is now planned to test the area’s multi-million-ounce high-grade potential, Vango says.