• The World Gold Council has released its mid-year outlook for the metal
  • Gold’s strategic and tactical role remain relevant to investors while uncertainty stays elevated
  • The metal typically outperforms other commodities during higher inflationary periods

Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.

The World Gold Council (WGC) has released its mid-year outlook for the metal and it’s no surprise it reckons inflation and geopolitical risks will likely sustain demand for gold as a hedge in H2.

Plus, the WGC says more rate hikes are already priced into the market and that the underperformance of stocks and bonds in a potential stagflationary environment may also be positive for gold.

“Gold’s both strategic and tactical role will likely remain relevant to investors, particularly while uncertainty stays elevated,” the report said.

 

 

Monetary policy uncertainty will ramp up volatility

Most central banks were expected to lift policy rates this year, but many have stepped up their actions in response to persistently high inflation which is being felt in financial markets.

The WGC says that investor expectations of future monetary policy decisions, expressed through bond yields, have historically been a key influence on gold price performance.

But, while gold has historically underperformed in the months leading up to a Fed tightening cycle, it actually outperforms in the months following the first rate hike.

 

Gold outperforms in higher inflationary periods

While investors expect inflation to cool down eventually, the WGC believes it will remain high due to lingering commodity-related supply-chain disruptions from the pandemic and the Ukraine war, which have caused a surge in key energy and commodity prices.

Added to this, tight labour markets are causing concerns that wages/labour costs may rise further.

“Gold has historically performed well amid high inflation,” the report said.

“In years when inflation was higher than 3%, gold’s price increased 14% on average, and in periods where US CPI averaged over 5% on a y-o-y basis – currently at ~8% – gold has averaged nearly 25%.”

“Also, gold has outperformed other commodities in higher inflationary periods, which has yet to happen this time around.

“However, our analysis suggests that gold lags other commodities in commodity-led inflationary periods, and catches up and outperforms over the subsequent 12-18 months.”

The ‘death cross’ for gold?

In contrast, FxPro senior market analyst Alex Kuptsikevich says gold is drowning.

The metal fell more than 2.3% on Tuesday, the second steepest daily drop a year after falling 2.5% on June 13.

“The most obvious factor is the sharp rise in the dollar on forex, where the DXY index (a basket of the world’s six most popular currencies) has renewed its highs over the last 20 years,” he said.

“Gold often acts as an ‘anti-dollar with leverage’ for investors, so it was unsurprising to see such a market reaction.

“A second possible explanation is a bearish signal, the ‘death cross’.

“The 50-day Moving Average fell below the 200-day MA on Monday, but we saw a full-swing market reaction only after liquidity returned after the long weekend in the USA.

“The third factor was the continuing sell-off in industrial metals and the drop in silver due to the worsening global economic outlook.”

Silver dipped below $19 an ounce on Wednesday morning, the lowest since July 2020.

“The price of gold is now at its low since late last year,” Kuptsikevich said.

“This position simultaneously shows us buyer strength and tremendous potential for a decline.”

 

Winners & Losers

Here’s how ASX-listed precious metals stocks are performing:

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

> Stocks missing from this list? Email [email protected]

 

Code Company Price % Year % Six Month % Month % Week Market Cap
OBM Ora Banda Mining Ltd 0.049 -67% -15% 48% 81% $68,699,365.15
SIH Sihayo Gold Limited 0.003 -73% -63% 0% 50% $15,255,320.23
ANL Amani Gold Ltd 0.0015 0% -25% 0% 50% $34,940,161.69
ASO Aston Minerals Ltd 0.115 -28% 5% -12% 49% $103,558,376.86
KZR Kalamazoo Resources 0.225 -39% -38% -27% 41% $29,038,874.80
BAT Battery Minerals Ltd 0.0055 -69% -56% -8% 38% $14,522,365.59
HXG Hexagon Energy 0.023 -70% -69% -18% 35% $11,797,065.72
KAL Kalgoorliegoldmining 0.13 0% -7% 18% 34% $9,416,498.00
GWR GWR Group Ltd 0.12 -70% -37% 9% 33% $38,545,998.60
RMX Red Mount Min Ltd 0.006 -40% -40% -14% 33% $9,854,183.15
CLA Celsius Resource Ltd 0.016 -59% -38% -11% 33% $19,543,452.29
ALY Alchemy Resource Ltd 0.016 9% 23% -24% 33% $14,296,110.86
PUR Pursuit Minerals 0.017 -75% -35% -15% 31% $16,121,086.30
FG1 Flynngold 0.13 -13% -19% 4% 30% $8,327,936.50
EMU EMU NL 0.013 -67% -35% -13% 30% $6,872,681.05
KAI Kairos Minerals Ltd 0.022 -33% -19% -8% 29% $41,203,963.31
CXU Cauldron Energy Ltd 0.009 -77% -68% -31% 29% $4,818,701.49
NES Nelson Resources. 0.014 -74% -61% -13% 27% $3,825,863.13
GSR Greenstone Resources 0.052 174% 86% -10% 27% $45,097,962.32
AVM Advance Metals Ltd 0.01 -37% -41% -29% 25% $4,778,774.02
LNY Laneway Res Ltd 0.005 30% -25% 0% 25% $31,510,082.05
DDD 3D Resources Limited 0.0025 -50% -29% -17% 25% $10,454,680.23
SBR Sabre Resources 0.005 25% 0% 0% 25% $11,158,924.03
FEG Far East Gold 0.355 0% 0% 11% 25% $40,882,465.35
TIE Tietto Minerals 0.385 13% -23% -1% 24% $374,210,149.56
DTM Dart Mining NL 0.062 -54% -28% -7% 24% $7,168,788.48
XTC Xantippe Res Ltd 0.0085 325% -23% -15% 21% $55,623,039.95
BBX BBX Minerals Ltd 0.115 -54% -30% -26% 21% $64,403,006.50
ARN Aldoro Resources 0.15 -66% -60% -29% 20% $14,882,038.35
DCN Dacian Gold Ltd 0.098 -65% -51% -46% 20% $104,167,398.05
CPM Coopermetalslimited 0.45 0% 73% 5% 18% $11,483,500.00
AL8 Alderan Resource Ltd 0.013 -76% -52% -24% 18% $5,532,359.04
CDT Castle Minerals 0.026 73% -35% -21% 18% $23,987,831.62
PKO Peako Limited 0.013 -65% -35% -19% 18% $4,009,903.31
KWR Kingwest Resources 0.059 -34% -70% -56% 18% $14,335,408.48
SBM St Barbara Limited 0.885 -54% -33% -25% 18% $677,059,857.44
STN Saturn Metals 0.33 -22% -18% -13% 18% $42,866,728.41
GBR Greatbould Resources 0.083 -8% -39% -6% 17% $34,252,646.01
GTR Gti Energy Ltd 0.014 -42% -42% -7% 17% $19,402,286.53
MOH Moho Resources 0.028 -63% -52% -18% 17% $4,630,165.03
NVA Nova Minerals Ltd 0.7 -42% -39% 19% 17% $126,141,599.50
M2R Miramar 0.1 -47% -44% -5% 16% $5,905,173.00
IVR Investigator Res Ltd 0.043 -45% -35% -14% 16% $57,289,487.25
TAR Taruga Minerals 0.022 -59% -45% -12% 16% $12,717,061.28
RRL Regis Resources 1.505 -42% -18% -21% 16% $1,132,466,082.00
AXE Archer Materials 0.635 -37% -43% -14% 15% $149,080,324.20
GIB Gibb River Diamonds 0.045 -20% -42% -13% 15% $9,517,925.03
PRS Prospech Limited 0.03 -79% -48% -35% 15% $1,955,430.15
WWI West Wits Mining Ltd 0.023 -71% -30% -4% 15% $40,529,114.14
VRC Volt Resources Ltd 0.0195 -44% -33% 3% 15% $60,925,661.76
STK Strickland Metals 0.063 43% -11% -6% 15% $76,866,880.02
NXM Nexus Minerals Ltd 0.2 150% -51% -20% 14% $53,589,973.24
IPT Impact Minerals 0.008 -41% -41% -11% 14% $19,850,964.45
SI6 SI6 Metals Limited 0.008 -43% -20% 14% 14% $10,049,988.03
RDS Redstone Resources 0.008 -38% -47% 14% 14% $5,894,659.17
NAG Nagambie Resources 0.056 -37% -7% 6% 14% $28,736,184.85
AQI Alicanto Min Ltd 0.074 -54% -36% 14% 14% $28,011,094.04
MRR Minrex Resources Ltd 0.035 67% -47% -19% 13% $34,984,849.71
GRL Godolphin Resources 0.098 -48% -32% -15% 13% $8,246,474.70
DCX Discovex Res Ltd 0.0045 -6% -57% -33% 13% $10,274,656.30
SMS Starmineralslimited 0.09 0% -57% -57% 13% $2,362,500.00
MHC Manhattan Corp Ltd 0.009 -36% -25% -10% 13% $13,736,508.24
KSN Kingston Resources 0.091 -56% -46% -33% 12% $37,562,018.95
CWX Carawine Resources 0.091 -59% -48% -43% 12% $12,542,925.58
G88 Golden Mile Res Ltd 0.032 -47% -32% -35% 12% $6,111,978.42
ALK Alkane Resources Ltd 0.695 -42% -20% -28% 12% $399,040,891.40
LCL Los Cerros Limited 0.0325 -83% -72% -45% 12% $18,868,816.80
A1G African Gold Ltd. 0.105 -49% -45% -13% 12% $12,538,084.44
BC8 Black Cat Syndicate 0.335 -44% -44% -16% 12% $68,362,936.00
AUT Auteco Minerals 0.048 -52% -34% -6% 12% $93,028,597.56
RGL Riversgold 0.029 -11% 78% -24% 12% $21,934,903.97
ADN Andromeda Metals Ltd 0.078 -48% -60% -15% 11% $229,992,623.97
AAR Astral Resources NL 0.078 -4% -35% -7% 11% $46,501,980.64
MZZ Matador Mining Ltd 0.15 -69% -57% -6% 11% $32,627,925.75
ICL Iceni Gold 0.1 -47% -43% -20% 11% $12,563,249.94
TAM Tanami Gold NL 0.05 -33% -19% -7% 11% $58,754,852.30
THR Thor Mining PLC 0.01 -41% -17% -17% 11% $10,689,009.73
RSG Resolute Mining 0.25 -58% -31% -4% 11% $265,012,648.56
SPQ Superior Resources 0.04 208% -45% 8% 11% $68,048,816.72
ICG Inca Minerals Ltd 0.09 -18% -18% -10% 11% $43,370,526.51
TMZ Thomson Res Ltd 0.021 -84% -67% -25% 11% $14,073,338.24
LEX Lefroy Exploration 0.265 -68% -20% -17% 10% $37,927,413.68
FAU First Au Ltd 0.011 -21% 16% -31% 10% $9,008,020.44
WRM White Rock Min Ltd 0.11 -79% -54% -15% 10% $19,103,605.84
RMS Ramelius Resources 0.955 -43% -35% -22% 10% $797,994,300.28
SVL Silver Mines Limited 0.1425 -48% -30% -23% 10% $174,397,339.31
BNR Bulletin Res Ltd 0.115 78% 44% -23% 10% $33,647,976.50
NML Navarre Minerals Ltd 0.047 -51% -40% -22% 9% $64,626,041.30
CBY Canterbury Resources 0.047 -53% -43% -3% 9% $5,790,330.91
MXR Maximus Resources 0.047 -39% -41% -25% 9% $14,941,571.10
SRN Surefire Rescs NL 0.024 71% 118% -20% 9% $37,952,723.45
AMI Aurelia Metals Ltd 0.2775 -39% -34% -13% 9% $334,005,243.39
MKG Mako Gold 0.064 -30% -35% -21% 8% $24,463,462.53
WCN White Cliff Min Ltd 0.013 8% -48% -24% 8% $7,843,240.34
CYL Catalyst Metals 1.305 -35% -33% -7% 8% $128,485,273.14
EM2 Eagle Mountain 0.2325 -73% -61% -46% 8% $61,700,964.49
PRX Prodigy Gold NL 0.014 -67% -59% -22% 8% $8,156,786.48
CAI Calidus Resources 0.64 27% -8% -19% 8% $256,227,903.54
A8G Australasian Metals 0.215 48% -63% -40% 8% $8,439,951.27
VAN Vango Mining Ltd 0.044 -31% -19% -15% 7% $55,437,255.81
ADV Ardiden Ltd 0.0075 -6% -38% -25% 7% $18,678,347.49
MEU Marmota Limited 0.06 30% 43% -6% 7% $56,844,716.33
HMX Hammer Metals Ltd 0.048 -47% -11% -16% 7% $38,323,547.28
SAU Southern Gold 0.032 -56% -42% -16% 7% $5,973,205.17
SLR Silver Lake Resource 1.2875 -26% -24% -17% 6% $1,170,105,000.41
KTA Krakatoa Resources 0.05 -12% 0% -32% 6% $16,546,076.02
MI6 Minerals260Limited 0.25 0% -55% -42% 6% $53,900,000.00
BGL Bellevue Gold Ltd 0.68 -32% -17% -20% 6% $665,273,527.77
CHN Chalice Mining Ltd 4.015 -47% -51% -28% 6% $1,486,960,564.00
MKR Manuka Resources. 0.18 -40% -41% -14% 6% $21,859,180.42
AGC AGC Ltd 0.074 -47% -24% -13% 6% $5,011,819.02
AGC AGC Ltd 0.074 -47% -24% -13% 6% $5,011,819.02
BCN Beacon Minerals 0.0285 -16% -8% -8% 6% $101,961,174.67
TBA Tombola Gold Ltd 0.038 -5% 31% -33% 6% $33,433,738.59
BTR Brightstar Resources 0.019 -44% -63% -21% 6% $12,290,356.51
AZS Azure Minerals 0.19 -25% -46% -37% 6% $59,039,786.99
BRB Breaker Res NL 0.195 15% -30% -7% 5% $63,538,981.16
HMG Hamelingoldlimited 0.105 0% -32% -19% 5% $12,100,000.00
HMG Hamelingoldlimited 0.105 0% -32% -19% 5% $12,100,000.00
TSO Tesoro Gold Ltd 0.046 -78% -39% -29% 5% $35,645,776.61
TBR Tribune Res Ltd 4.02 -20% -15% 3% 4% $215,119,115.70
XAM Xanadu Mines Ltd 0.024 -37% -11% -8% 4% $33,894,245.16
RXL Rox Resources 0.25 -45% -26% -22% 4% $41,390,532.02
ENR Encounter Resources 0.125 -19% -22% -17% 4% $41,238,187.38
RXL Rox Resources 0.25 -45% -26% -22% 4% $41,390,532.02
ARL Ardea Resources Ltd 0.78 64% 71% -33% 4% $131,546,773.30
ANX Anax Metals Ltd 0.08 -1% -2% -12% 4% $30,827,740.16
MVL Marvel Gold Limited 0.028 -50% -56% -22% 4% $19,720,942.36
POL Polymetals Resources 0.092 -43% -41% -23% 3% $3,685,204.07
NSM Northstaw 0.155 -54% -48% -18% 3% $6,420,320.00
KAU Kaiser Reef 0.155 -41% -23% -23% 3% $20,125,310.67
OZM Ozaurum Resources 0.155 24% 19% -14% 3% $10,805,980.00
RVR Red River Resources 0.16 -30% -22% -9% 3% $77,769,673.20
DTR Dateline Resources 0.099 4% 25% -33% 3% $43,624,268.16
HRZ Horizon 0.069 -45% -45% -45% 3% $43,788,004.62
EVN Evolution Mining Ltd 2.45 -47% -35% -32% 3% $4,399,218,439.20
CAZ Cazaly Resources 0.037 -26% -18% -5% 3% $13,720,406.34
TUL Tulla Resources 0.56 24% 7% -7% 3% $87,318,195.24
MAT Matsa Resources 0.044 -41% -24% -8% 2% $15,794,003.28
SLZ Sultan Resources Ltd 0.096 -48% -44% -34% 2% $8,328,438.90
HAV Havilah Resources 0.245 11% 44% -8% 2% $77,566,806.45
M24 Mamba Exploration 0.099 -55% -52% -1% 2% $4,175,325.30
MLS Metals Australia 0.051 28% 28% -27% 2% $27,265,737.17
MEK Meeka Gold Limited 0.051 -12% 19% -18% 2% $46,939,648.52
NST Northern Star 6.975 -31% -23% -18% 2% $8,074,324,718.46
CMM Capricorn Metals 3.19 64% -5% -12% 2% $1,130,652,562.40
KCC Kincora Copper 0.055 -76% -65% -35% 2% $3,899,958.31
IDA Indiana Resources 0.056 -15% -3% 0% 2% $23,906,123.30
KRM Kingsrose Mining Ltd 0.057 4% -32% -14% 2% $39,883,905.51
IGO IGO Limited 10.1 23% -14% -15% 2% $7,315,207,073.58
GMR Golden Rim Resources 0.065 -46% -54% 5% 2% $20,718,284.14
AWJ Auric Mining 0.065 -57% -41% -31% 2% $3,644,508.21
AGG AngloGold Ashanti 4.4 -17% -18% -10% 1% $392,514,166.00
PGD Peregrine Gold 0.39 -5% -35% -15% 1% $13,783,200.84
GSM Golden State Mining 0.0405 -75% -52% -33% 1% $4,715,063.42
SNG Siren Gold 0.2775 9% 3% -27% 1% $21,954,379.98
AAJ Aruma Resources Ltd 0.0665 4% -20% -10% 1% $9,888,574.69
PRU Perseus Mining Ltd 1.5925 0% 3% -17% 0% $2,147,441,451.75
WGX Westgold Resources. 1.19 -39% -38% -10% 0% $549,402,366.80
NPM Newpeak Metals 0.001 -50% -50% 0% 0% $8,853,750.03
FFX Firefinch Ltd 0.2 49% -32% -38% 0% $236,248,644.20
GED Golden Deeps 0.013 0% 18% -19% 0% $13,862,720.57
NMR Native Mineral Res 0.16 -39% -32% -14% 0% $7,060,550.40
AQX Alice Queen Ltd 0.003 -77% -70% -40% 0% $5,948,301.37
PNX PNX Metals Limited 0.004 -54% -41% -20% 0% $17,776,231.23
YRL Yandal Resources 0.15 -71% -61% -23% 0% $17,413,732.95
PUA Peak Minerals Ltd 0.01 -44% -33% -17% 0% $10,413,707.51
RND Rand Mining Ltd 1.315 -9% -11% -8% 0% $74,791,888.72
MEI Meteoric Resources 0.011 -80% -39% -21% 0% $17,552,419.77
MCT Metalicity Limited 0.003 -72% -67% -25% 0% $12,104,376.75
CTO Citigold Corp Ltd 0.005 -55% -44% -17% 0% $14,168,295.46
TRY Troy Resources Ltd 0.037 -14% 0% 0% 0% $32,223,563.33
KGM Kalnorth Gold Ltd 0.013 0% 0% 0% 0% $11,625,120.78
CGN Crater Gold Min Ltd 0.017 0% 0% 0% 0% $21,063,473.65
TSC Twenty Seven Co. Ltd 0.003 -33% -25% 0% 0% $7,982,441.72
GUL Gullewa Limited 0.059 -28% -28% -13% 0% $11,263,282.90
G50 Gold50Limited 0.15 0% -40% -25% 0% $8,402,700.15
MGV Musgrave Minerals 0.245 -36% -29% -20% 0% $126,235,643.02
VMC Venus Metals Cor Ltd 0.17 -15% 0% -8% 0% $25,612,589.28
NAE New Age Exploration 0.006 -50% -40% -33% 0% $10,051,292.37
VKA Viking Mines Ltd 0.006 -65% -60% -25% 0% $7,176,809.02
MTH Mithril Resources 0.005 -71% -67% -29% 0% $14,651,165.21
RML Resolution Minerals 0.008 -69% -53% -11% 0% $7,491,465.72
GMN Gold Mountain Ltd 0.005 -83% -67% -17% 0% $5,965,745.85
MEG Megado Minerals Ltd 0.08 -41% -5% -33% 0% $8,723,903.84
PF1 Pathfinder Resources 0.5 61% 67% 0% 0% $26,560,505.00
ARV Artemis Resources 0.027 -55% -65% -21% 0% $37,484,936.57
QML Qmines Limited 0.165 -54% -50% -25% 0% $10,976,077.04
RDN Raiden Resources Ltd 0.008 -72% -60% -20% 0% $11,339,537.06
SFM Santa Fe Minerals 0.096 7% -36% -4% 0% $6,990,603.74
MM8 Medallion Metals. 0.2 -20% -13% -32% 0% $20,694,892.92
BMO Bastion Minerals 0.145 -22% -41% -3% 0% $11,009,742.70
AVW Avira Resources Ltd 0.003 -40% -40% -25% 0% $6,356,370.00
ZAG Zuleika Gold Ltd 0.022 -27% 16% -33% 0% $11,474,113.75
GML Gateway Mining 0.008 -60% -43% -27% 0% $20,340,957.30
MBK Metal Bank Ltd 0.004 -53% -43% -20% 0% $10,431,272.64
TLM Talisman Mining 0.14 -26% -22% -13% 0% $26,283,529.58
OAU Ora Gold Limited 0.008 -56% -53% -24% 0% $7,873,850.26
GNM Great Northern 0.004 -67% -38% -20% 0% $6,836,203.90
TRM Truscott Mining Corp 0.048 33% 45% 0% 0% $7,293,194.11
DLC Delecta Limited 0.011 83% -8% 0% 0% $13,253,995.76
KNB Koonenberrygold 0.08 0% -50% -13% 0% $5,980,727.04
E2M E2 Metals 0.13 -65% -55% -21% 0% $25,887,201.99
AYM Australia United Min 0.005 -44% -38% -17% 0% $9,212,887.43
DEG De Grey Mining 0.8 -34% -29% -23% -1% $1,113,861,968.61
GMD Genesis Minerals 1.255 80% -28% -15% -1% $301,421,406.97
KCN Kingsgate Consolid. 1.315 61% -29% -17% -1% $287,716,588.90
HCH Hot Chili Ltd 0.74 -55% -56% -39% -1% $87,792,226.41
CDR Codrus Minerals Ltd 0.065 -66% -52% -30% -2% $2,640,000.00
GOR Gold Road Res Ltd 1.1125 -15% -23% -13% -2% $1,172,234,128.85
GBZ GBM Rsources Ltd 0.06 -52% -48% -35% -2% $29,806,922.56
DRE Dreadnought Resources Ltd 0.046 53% 12% 21% -2% $130,579,443.35
OGC OceanaGold Corp. 2.7 5% 26% -18% -2% $184,915,108.01
BNZ Benzmining 0.43 -52% -34% -32% -2% $22,543,538.19
SSR SSR Mining Inc. 23.98 12% 4% -13% -2% $454,996,984.50
GAL Galileo Mining Ltd 1.275 364% 507% -20% -2% $227,980,531.50
CHZ Chesser Resources 0.082 -34% -34% -14% -2% $48,226,095.02
HAW Hawthorn Resources 0.081 72% -19% -26% -2% $27,014,764.65
AAU Antilles Gold Ltd 0.0595 -26% -20% -20% -2% $20,850,892.70
OKR Okapi Resources 0.185 -16% -52% -26% -3% $19,913,659.41
LCY Legacy Iron Ore 0.0185 32% -23% -18% -3% $115,322,871.58
PGO Pacgold 0.555 126% 15% -11% -3% $30,503,807.33
WAF West African Res Ltd 1.1775 6% -8% -12% -3% $1,169,079,055.74
ADT Adriatic Metals 1.895 -25% -24% -20% -3% $385,814,625.46
AGS Alliance Resources 0.17 16% 12% -3% -3% $40,123,349.51
BRV Big River Gold Ltd 0.335 -14% 46% -1% -3% $80,993,215.32
SFR Sandfire Resources 4.32 -33% -37% -26% -3% $1,717,824,131.67
AM7 Arcadia Minerals 0.15 -14% -36% -36% -3% $6,771,194.34
CY5 Cygnus Gold Limited 0.15 30% -14% -12% -3% $17,697,797.25
BYH Bryah Resources Ltd 0.029 -52% -41% -31% -3% $6,560,008.08
CST Castile Resources 0.14 -38% -30% -18% -3% $29,956,518.15
NWM Norwest Minerals 0.028 -65% -59% -30% -3% $4,515,184.68
OKU Oklo Resources Ltd 0.14 17% 22% -7% -3% $70,629,507.06
ASR Asra Minerals Ltd 0.027 4% 23% -25% -4% $36,179,347.14
S2R S2 Resources 0.13 -4% -35% -28% -4% $49,892,479.70
RDT Red Dirt Metals Ltd 0.385 141% -49% -15% -4% $115,730,681.88
TG1 Techgen Metals Ltd 0.125 -32% -17% -19% -4% $5,526,052.00
NCM Newcrest Mining 19.81 -24% -18% -17% -5% $17,639,184,128.25
BMR Ballymore Resources 0.18 0% 0% -8% -5% $13,960,835.39
ERM Emmerson Resources 0.09 22% -40% -9% -5% $49,023,880.92
PNR Pantoro Limited 0.18 -16% -48% -38% -5% $291,383,301.14
BGD Bartongoldholdings 0.18 -12% -18% -18% -5% $15,472,660.14
CEL Challenger Exp Ltd 0.175 -41% -44% -24% -5% $174,711,308.60
HRN Horizon Gold Ltd 0.33 -24% -21% -13% -6% $40,822,662.87
MAU Magnetic Resources 1.165 -25% -22% -10% -6% $266,967,954.61
BEZ Besragoldinc 0.044 0% -60% -35% -6% $7,733,248.20
TCG Turaco Gold Limited 0.054 -51% -55% -36% -7% $23,096,700.13
MTC Metalstech Ltd 0.335 80% 5% -16% -7% $55,832,637.65
RED Red 5 Limited 0.2325 26% -17% -39% -7% $542,057,730.20
REZ Resourc & En Grp Ltd 0.026 -10% -59% 4% -7% $11,995,338.94
LRL Labyrinth Resources 0.019 -56% -46% -30% -7% $16,593,968.35
MDI Middle Island Res 0.125 0% 14% -24% -7% $14,690,186.64
TTM Titan Minerals 0.057 -50% -43% -30% -8% $86,023,452.51
SKY SKY Metals Ltd 0.055 -48% -48% -37% -8% $20,723,090.85
WMC Wiluna Mining Corp 0.215 -74% -78% -55% -9% $79,670,081.70
AME Alto Metals Limited 0.063 -32% -32% -18% -10% $32,738,325.74
FML Focus Minerals Ltd 0.135 -49% -58% -25% -10% $38,685,417.08
PDI Predictive Disc Ltd 0.18 80% -28% -5% -10% $287,663,351.04
GCY Gascoyne Res Ltd 0.22 -33% -23% -15% -10% $100,118,284.69
GCY Gascoyne Res Ltd 0.22 -33% -23% -15% -10% $100,118,284.69
ZNC Zenith Minerals Ltd 0.25 -7% -14% -32% -11% $86,190,569.75
AUC Ausgold Limited 0.041 -7% -13% -29% -11% $85,237,930.72
TMX Terrain Minerals 0.008 -20% 14% -20% -11% $6,846,849.08
AWV Anova Metals Ltd 0.008 -60% -58% -33% -11% $11,984,753.60
X64 Ten Sixty Four Ltd 0.61 -32% -14% -16% -12% $137,913,562.11
LYN Lycaonresources 0.265 0% -40% -45% -12% $7,979,687.50
LM8 Lunnonmetalslimited 0.695 51% 45% -13% -12% $74,715,766.36
SMI Santana Minerals Ltd 0.59 528% 84% -32% -13% $77,592,813.48
PNT Panthermetalsltd 0.2 0% 0% 5% -13% $5,220,000.00
DGO DGO Gold Limited 2.41 -21% -9% -19% -13% $202,181,472.07
GSN Great Southern 0.034 -32% -45% -11% -14% $18,100,480.92
EMR Emerald Res NL 0.945 8% -17% -23% -14% $569,616,943.68
DEX Duke Exploration 0.062 -83% -64% -38% -15% $6,946,258.70
PNM Pacific Nickel Mines 0.07 19% -14% -11% -16% $18,989,309.92
MRZ Mont Royal Resources 0.285 12% -14% -7% -16% $19,105,246.04
SVY Stavely Minerals Ltd 0.165 -62% -68% -48% -18% $41,753,832.32
AOP Apollo Consolidated 0 -100% -100% -100% -100% $177,888,559.90
TRN Torrens Mining 0 -100% -100% -100% -100% $9,218,941.94
KLA Kirkland Lake Gold 0 -100% -100% -100% -100% $52,690,000.00
BDC Bardoc Gold Ltd 0 -100% -100% -100% -100% $154,075,451.40

 

SMALL CAP STANDOUTS

SIHAYO GOLD (ASX:SIH)

Sihayo owns the Sihayo gold project in Indonesia, where it already has a feasibility study prepared despite its minnow status, and a strategic review process in train with CLSA looking for a potential funding partner for the proposed mine.

Earlier this week the $15m market cap company said its recent high pH (caustic) pre-leaching test work program has the potential to increase overall recoveries of the Sihayo Starter Project from 71.2% to greater than 80%.

Results indicate an uplift in recoveries of between 8% and 61% for transition mineralisation and between 21% and 74% for fresh mineralisation at the Sihayo Starter Project.

The company plans to incorporate these results into an update of the Ore Reserve and feasibility assessment of the project.

Notably, at US$1700/oz gold prices, Sihayo would deliver 551,000oz over its 6.5-year life, but with a capital cost of US$173 million and IRR of just 10.1%, some more exploration may be prudent.

 

KALAMAZOO RESOURCES (ASX:KZR)

This week the company picked up the 1,609km2 Mt Piper Gold Project from Coda Minerals (ASX: COD),which is adjacent to Agnico Eagle Mine’s (NYSE:AEM) large exploration land tenure and 30km from its the Fosterville gold mine in Central Victoria.

The project is also between Mandalay Resources’ (TSX: MND) high-grade Costerfield gold-antimony mine and the Sunday Creek Project owned by Southern Cross Gold (ASX:SXG) which recently announced significant drilling intersections including 119.2m at 3.2g/t gold.

The plan is to design an initial “low impact” exploration program for high priority target areas.

KZR is a ~$33.4m market cap company with ~$4.27m cash in the bank at the end of the March quarter.

 

CELSIUS RESOURCES (ASX:CLA)

The copper-gold explorer hit a highlight 611.4m-long intersection at 1.39% copper and 0.75g/t gold in drilling at the flagship MCB project in the Philippines this week.

This includes a 77.5m-long high-grade portion grading 2.47% copper and 2.12g/t gold (3.34% copper equivalent) from 232.10m.

This hole (MCB-038) was designed to improve confidence in the existing 1.5 million tonnes copper and 1.47 million ounces gold resource, in addition to defining further higher-grade areas to enhance the upcoming feasibility study.

A Scoping Study for the project announced December 2021 eyed the development of an underground copper-gold operation with a 25-year mine life.

Highlights from the scoping study includes a post-tax NPV (8%) of US$464m and IRR of 35%, assuming a copper price of US$4.00/lb and gold price of US$1,695/oz.

Initial capital expenditure was estimated to be US$253m with a payback period of ~2.7 years.

The $34m market cap stock had $3.5m in the bank at the end of March.

 

SIH, KZR and CLA share prices today: