Alas. After teasing gold bugs with a push through $1,840/oz over the past week, we are now back below ~$US1,800/oz.

Gold stocks can’t seem to catch a break. What gives?

Investors are growing  increasingly pessimistic about non-interest-bearing assets, like gold, now that the Fed seems poised to deliver four or five rate hikes this year, OANDA senior market analyst Edward Moya says.

“Another round of economic data supported the tightening arguments as the US economy had the strongest year in decades, while omicron likely had a short-term impact on durable goods and pending home sales,” he says.

“Gold is vulnerable to further technical selling now that the $1800 level has been breached, with $1760 providing key support.

“Risk aversion will eventually lead to some flows back into bullion, but that won’t happen until this selloff is over.”

 

And yet gold demand is at 2-year highs

Gold demand reached 1,147 tonnes in Q4 2021 — its highest quarterly level since Q2 2019 and an increase of almost 50% year-on-year.

Annual demand recovered many of the COVID-induced losses from 2020 to reach 4,021t for the full year in 2021, the World Gold Council says.

Gold bar and coin demand rose 31% to an 8-year high of 1,180t as retail investors sought a safe haven from rising inflation and ongoing economic uncertainty caused by the coronavirus pandemic.

Meanwhile, the World Gold Council’s data series reported outflows of 173t in 2021 from gold-backed ETFs as some more tactical investors reduced hedges early in the year amid COVID vaccine rollouts, while rising interest rates made holding gold more expensive.

For the twelfth consecutive year, central banks were net purchasers of gold, adding 463t to their holdings, which was 82% higher than 2020.

“Gold’s performance [in 2021] truly underscored the value of its unique dual nature and the diverse demand drivers,” Louise Street, Senior Analyst EMEA at the World Gold Council says.

“On the investment side, the tug of war between persistent inflation and rising rates created a mixed picture for demand.

“Increasing rates fuelled a risk-on appetite among some investors, reflected in ETF outflows.

“On the other hand, a search for safe haven assets led to a rise in gold bar and coin purchases, buoyed by central bank buying.”

The World Gold council expect similar dynamics to influence gold’s performance in 2022 “with demand drivers fluctuating according to the relative dominance of key economic variables”,” Street says.

“How central banks deal with persistent high levels of inflation will be a key factor for institutional and retail demand in 2022,” she says.

“Meanwhile, the jewellery market’s current strength could be hampered if new COVID variants restrict consumer access again or continue if the economic recovery endures.”

 

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

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

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % SHARE PRICE MARKET CAP
PNX PNX Metals 24.1% -11.3% -22.4% -11.3% 0.006 $21,913,161
GSR Greenstone Resources 17.2% 21.4% 70.0% 30.8% 0.034 $28,247,754
ASO Aston Minerals 12.9% 78.6% 20.7% 414.7% 0.175 $162,213,563
TMX Terrain Minerals 12.5% 12.5% 28.6% -18.2% 0.009 $5,886,088
CTO Citigold Corp 12.5% 0.0% -25.0% -30.8% 0.009 $25,502,932
CPM Cooper metals 11.9% 88.6% 0.0% 0.0% 0.33 $7,970,900
RGL Riversgold 10.5% 23.5% -41.7% -58.8% 0.021 $8,888,928
HMG Hamelingold 9.7% 25.9% 0.0% 0.0% 0.17 $17,050,000
SMI Santana Minerals 9.5% 1.5% 200.0% 81.6% 0.345 $38,464,814
MAU Magnetic Resources 4.3% 3.4% -2.0% 6.4% 1.5 $334,270,800
AWJ Auric Mining 4.3% 26.3% -14.3% 0.0% 0.12 $6,728,323
MHC Manhattan Corp 3.3% 19.2% 29.2% -40.4% 0.0155 $22,894,180
GWR GWR Group 2.9% 44.0% -53.8% -52.7% 0.18 $51,606,831
PF1 Pathfinder Resources 2.6% 30.0% 23.8% 27.9% 0.39 $20,185,984
BMO Bastion Minerals 2.6% -16.7% 14.3% 0.0% 0.2 $14,985,852
HRN Horizon Gold 1.1% 10.0% 10.0% -10.0% 0.44 $46,944,487
IPT Impact Minerals 0.0% 0.0% 7.7% -33.3% 0.014 $26,309,334
BBX BBX Minerals 0.0% 20.0% -26.5% -46.3% 0.18 $80,503,758
KAL Kalgoorliegoldmining 0.0% 7.4% 0.0% 0.0% 0.145 $10,140,844
MLS Metals Australia 0.0% 0.0% 0.0% -33.3% 0.002 $10,477,115
SIH Sihayo Gold 0.0% -11.1% -27.3% -55.6% 0.008 $29,483,691
TRY Troy Resources 0.0% 0.0% -17.8% -59.3% 0.037 $31,631,563
KGM Kalnorth Gold 0.0% 0.0% 0.0% 0.0% 0.013 $11,625,121
CGN Crater Gold Min 0.0% 0.0% 0.0% -26.1% 0.017 $20,867,430
GUL Gullewa 0.0% -11.5% -16.9% -25.0% 0.069 $13,135,744
CY5 Cygnus Gold 0.0% 0.0% 38.5% 2.9% 0.18 $19,467,577
GMN Gold Mountain 0.0% -12.5% -30.0% -67.7% 0.014 $14,982,088
TAM Tanami Gold NL 0.0% -1.6% -15.1% -27.1% 0.062 $75,206,211
GML Gateway Mining 0.0% -6.7% -22.2% -56.3% 0.014 $29,381,383
A1G African Gold . 0.0% 21.1% 27.9% 4.4% 0.23 $24,376,617
OAU Ora Gold 0.0% 26.7% 5.7% -16.3% 0.019 $15,719,129
GNM Great Northern 0.0% 0.0% -45.8% -56.7% 0.0065 $10,254,306
SVY Stavely Minerals -1.0% -5.7% 12.4% -32.9% 0.5 $130,480,726
ARV Artemis Resources -1.4% -5.3% 35.8% -42.4% 0.072 $90,359,831
TIE Tietto Minerals -2.0% 8.9% 36.1% 11.4% 0.49 $340,640,061
G50 Gold50 -2.0% -2.0% 0.0% 0.0% 0.245 $12,043,870
MEG Megado -2.3% -14.1% -26.1% -52.8% 0.085 $3,831,343
AAU Antilles Gold -2.6% -3.8% 4.2% -9.4% 0.075 $21,888,357
PRX Prodigy Gold NL -2.9% -5.7% -17.5% -25.0% 0.033 $19,226,711
TRM Truscott Mining Corp -2.9% 0.0% 0.0% 83.3% 0.033 $5,014,071
AGC AGC -3.1% -5.0% -38.7% -51.3% 0.095 $6,366,365
CYL Catalyst Metals -3.1% -10.6% -5.4% -17.4% 1.85 $179,681,694
AGS Alliance Resources -3.3% -3.3% -6.5% -17.1% 0.145 $30,162,484
TBA Tombola Gold -3.3% 3.6% -37.0% -59.2% 0.029 $19,594,557
BYH Bryah Resources -3.4% 16.7% -6.7% -20.0% 0.056 $11,310,359
ICL Iceni Gold -3.4% -20.0% -6.7% 0.0% 0.14 $14,346,824
GRL Godolphin Resources -3.6% -3.6% -18.2% -48.1% 0.135 $10,934,478
RND Rand Mining -3.8% -3.1% -6.3% -26.1% 1.405 $79,910,725
ZNC Zenith Minerals -4.0% 60.0% 44.0% 125.0% 0.36 $123,769,496
NMR Native Mineral Res -4.3% -8.3% 0.5% -34.4% 0.22 $8,694,947
OKU Oklo Resources -4.3% -18.5% -12.0% -45.0% 0.11 $55,494,613
RDN Raiden Resources -4.5% 5.0% -19.2% -25.0% 0.021 $28,881,873
SI6 SI6 Metals -4.5% 16.7% -19.2% -56.3% 0.0105 $15,709,584
BNZ Benzmining -4.8% -7.7% -29.4% -55.2% 0.6 $28,278,744
SMS Starminerals -4.8% -4.8% 0.0% 0.0% 0.2 $5,250,000
CBY Canterbury Resources -4.8% -4.8% -20.0% -23.8% 0.08 $9,855,882
GIB Gibb River Diamonds -5.0% -5.0% 33.3% 1.3% 0.076 $15,017,171
NSM Northstaw -5.1% -3.4% -20.0% -40.4% 0.28 $11,837,465
REZ Resourc & En Grp -5.2% -5.2% 83.3% 10.0% 0.055 $24,990,289
QML Qmines -5.2% -11.3% -14.1% 0.0% 0.275 $16,697,637
TG1 Techgen Metals -5.2% -8.3% -25.7% 0.0% 0.1375 $5,878,192
TBR Tribune Res -5.2% -4.2% -15.7% -25.4% 4.55 $237,680,389
YRL Yandal Resources -5.3% -8.9% -30.3% -15.7% 0.36 $41,792,959
PAK Pacific American Hld -5.3% 12.5% 13.4% -22.9% 0.018 $8,123,916
ANX Anax Metals -5.3% 15.4% 13.9% 69.8% 0.09 $30,656,602
M2R Miramar -5.6% -8.1% -2.9% -41.4% 0.17 $8,468,553
TLM Talisman Mining -5.6% 9.7% -15.0% 82.8% 0.17 $30,977,017
BC8 Black Cat Syndicate -5.6% -0.8% 2.6% -27.3% 0.585 $81,668,530
CWX Carawine Resources -5.7% -5.7% -28.3% -31.3% 0.165 $22,495,167
SSR SSR Mining Inc. -5.7% -6.3% 9.0% 2.3% 22.89 $463,289,841
PRU Perseus Mining -5.7% -8.6% -4.2% 20.5% 1.48 $1,831,071,186
TNR Torian Resources -5.9% 45.5% 18.5% 6.7% 0.032 $35,493,620
BCN Beacon Minerals -5.9% 0.0% -5.9% -4.4% 0.032 $111,329,215
BRV Big River Gold -5.9% 2.1% -38.5% -38.8% 0.24 $52,666,188
DEX Duke Exploration -5.9% -8.6% -48.4% -49.2% 0.16 $14,433,784
CDT Castle Minerals -6.0% 58.0% 182.1% 295.0% 0.0395 $35,976,407
IDA Indiana Resources -6.3% -6.3% -11.8% -14.3% 0.06 $26,096,818
MVL Marvel Gold -6.3% -3.3% 3.5% 37.2% 0.059 $34,629,036
EM2 Eagle Mountain -6.3% 8.3% -22.4% 49.4% 0.59 $128,577,447
WRM White Rock Min -6.4% -8.3% -55.1% -54.2% 0.22 $34,164,174
BGD Bartongoldholdings -6.5% 3.6% 7.5% 0.0% 0.215 $18,455,599
MAT Matsa Resources -6.6% -3.4% -16.2% -48.1% 0.057 $20,460,413
PRS Prospech -6.7% -13.8% -53.3% -71.6% 0.056 $3,910,860
KAI Kairos Minerals -6.7% 7.7% 3.7% -12.5% 0.028 $52,976,524
ENR Encounter Resources -6.7% -15.2% -9.0% -0.2% 0.14 $45,938,440
SNG Siren Gold -6.8% 0.0% 14.6% -58.0% 0.275 $23,220,979
G88 Golden Mile Res -6.9% 10.2% 8.0% 22.7% 0.054 $8,996,953
DTR Dateline Resources -6.9% -4.7% -22.9% 62.0% 0.081 $35,034,540
MTH Mithril Resources -7.1% -18.8% -31.6% -39.5% 0.013 $33,543,030
POL Polymetals Resources -7.1% -3.7% -10.3% 0.0% 0.13 $5,203,385
MBK Metal Bank -7.1% -7.1% -15.0% -54.7% 0.0065 $18,254,727
HRZ Horizon -7.4% 0.0% 8.7% 13.6% 0.125 $68,157,024
VMC Venus Metals Cor -7.5% 8.8% 2.8% -15.9% 0.185 $26,438,770
GBZ GBM Rsources -7.7% 14.3% -7.7% -7.7% 0.12 $58,743,070
THR Thor Mining PLC -7.7% 0.0% -20.0% -40.0% 0.012 $10,066,729
BAT Battery Minerals -7.7% 9.1% -29.4% -69.2% 0.012 $25,822,110
CXU Cauldron Energy -7.7% -11.1% -27.3% -52.0% 0.024 $10,317,166
ALY Alchemy Resource -7.7% 9.1% -12.4% -23.3% 0.012 $11,428,139
AGG AngloGold Ashanti -7.9% -6.2% -0.6% -14.3% 5.26 $481,721,931
STK Strickland Metals -7.9% -15.9% 18.4% 69.2% 0.058 $75,506,597
WCN White Cliff Min -8.0% 43.8% 53.3% -8.0% 0.023 $11,863,928
CDR Codrus Minerals -8.0% -4.2% -37.8% 0.0% 0.115 $4,400,000
PDI Predictive Disc -8.2% -6.3% 60.7% 268.9% 0.225 $293,812,464
AUC Ausgold -8.3% -6.4% 15.8% -12.0% 0.044 $72,651,354
GOR Gold Road Res -8.6% -12.1% 9.5% 13.6% 1.38 $1,212,637,135
CAZ Cazaly Resources -8.7% -4.5% -16.0% -4.5% 0.042 $14,412,967
CHZ Chesser Resources -8.7% -12.5% -27.6% -47.5% 0.105 $51,687,352
EMR Emerald Res NL -8.8% -2.3% 18.2% 30.8% 1.04 $613,048,004
OZM Ozaurum Resources -8.8% 0.0% 0.0% 0.0% 0.13 $7,438,080
ADT Adriatic Metals -8.9% -1.2% -11.2% 21.2% 2.46 $507,111,455
DCX Discovex Res -9.1% 66.7% 81.8% 11.1% 0.01 $25,686,641
AAR Anglo Australian -9.1% 1.0% 16.3% -20.0% 0.1 $62,598,820
RML Resolution Minerals -9.1% -16.7% -44.4% -55.9% 0.015 $11,158,232
KAU Kaiser Reef -9.1% -4.8% -23.6% -50.6% 0.2 $24,484,143
MXR Maximus Resources -9.1% -4.1% -1.4% -48.1% 0.07 $22,253,387
MEU Marmota -9.4% 9.1% 4.3% 0.0% 0.048 $44,103,659
TCG Turaco Gold -9.4% 0.0% 9.1% 100.0% 0.12 $51,159,334
EMU EMU NL -9.5% 11.8% -42.4% -62.0% 0.019 $10,446,475
ZAG Zuleika Gold -9.5% 123.5% 26.7% -25.5% 0.038 $15,284,455
KNB Koonenberrygold -9.7% -15.2% 0.0% 0.0% 0.14 $10,376,272
MTC Metalstech -10.0% 0.0% 45.4% 74.5% 0.27 $43,332,793
AQX Alice Queen -10.0% -10.0% -35.7% -74.3% 0.009 $12,332,007
GMR Golden Rim Resources -10.0% -16.7% -6.3% -31.8% 0.1125 $27,056,115
AVW Avira Resources -10.0% -18.2% -10.0% -25.0% 0.0045 $7,734,555
SBR Sabre Resources -10.0% -10.0% 12.5% -43.8% 0.0045 $8,639,068
PKO Peako -10.0% -14.3% -47.1% -45.5% 0.018 $5,552,174
KLA Kirkland Lake Gold -10.1% -3.0% -0.9% 3.0% 52.78 $52,850,000
SFR Sandfire Resources -10.1% 4.3% 4.3% 43.6% 6.625 $2,709,980,313
ALK Alkane Resources -10.1% -13.0% -26.3% -4.2% 0.8 $464,555,068
FML Focus Minerals -10.2% -3.6% 6.0% -29.3% 0.265 $49,342,113
CEL Challenger Exp -10.2% 0.0% -3.6% -11.7% 0.265 $269,349,783
HAW Hawthorn Resources -10.2% 2.3% 95.6% -23.5% 0.088 $30,016,405
DTM Dart Mining NL -10.2% 4.4% -35.8% -54.9% 0.0835 $10,830,711
ARL Ardea Resources -10.5% 21.4% 27.3% 22.5% 0.595 $81,215,678
MGV Musgrave Minerals -10.6% -16.9% -6.3% -20.3% 0.295 $153,094,290
AMI Aurelia Metals -10.6% -4.5% 3.7% 0.0% 0.42 $544,304,841
WMC Wiluna Mining Corp -10.8% 2.4% 1.9% -23.8% 1.07 $225,050,416
NXM Nexus Minerals -10.8% -19.6% 320.5% 196.0% 0.37 $93,585,706
MZZ Matador Mining -11.0% -5.8% -19.8% 6.6% 0.325 $72,352,805
STN Saturn Metals -11.0% -14.1% -20.7% -33.6% 0.365 $48,920,350
ICG Inca Minerals -11.0% -15.2% -8.2% 1.1% 0.089 $43,309,048
MCT Metalicity -11.1% -11.1% -27.3% -52.9% 0.008 $20,003,419
E2M E2 Metals -11.1% -17.2% -29.4% -57.1% 0.24 $36,113,091
AME Alto Metals -11.3% -12.2% -3.4% -18.1% 0.086 $45,411,226
LYN Lycaonresources -11.4% 21.9% 0.0% 0.0% 0.39 $10,935,000
WGX Westgold Resources. -11.4% -10.9% 1.4% -24.5% 1.79 $778,657,984
BDC Bardoc Gold -11.5% -12.4% 14.2% -21.3% 0.425 $125,011,300
DGO DGO Gold -11.7% -0.4% -19.7% -6.7% 2.65 $225,388,202
RXL Rox Resources -11.9% 29.0% 6.0% -12.7% 0.445 $70,923,426
DRE Drednought Resources -11.9% -2.6% -14.0% 68.2% 0.037 $93,627,057
LCL Los Cerros -12.0% -8.3% -33.3% -35.3% 0.11 $70,190,049
VAN Vango Mining -12.0% -21.4% -34.3% -39.7% 0.044 $51,657,443
TRN Torrens Mining -12.1% -17.1% -47.3% -39.6% 0.145 $9,753,091
RVR Red River Resources -12.2% -2.7% -12.2% -30.8% 0.18 $93,323,608
LRL Labyrinth Resources -12.2% 2.9% 9.1% -21.7% 0.036 $32,173,764
NWM Norwest Minerals -12.3% -1.5% -22.9% -24.2% 0.064 $11,920,082
HCH Hot Chili -12.4% -2.7% -12.2% -18.8% 1.625 $174,949,387
GED Golden Deeps -12.5% -12.5% -12.5% -4.5% 0.0105 $8,534,366
CST Castile Resources -12.5% -7.9% -7.9% -7.9% 0.175 $33,950,721
XAM Xanadu Mines -12.5% -3.4% -20.0% -22.2% 0.028 $35,380,737
M24 Mamba Exploration -12.5% 5.0% 13.5% 0.0% 0.21 $8,651,501
AYM Australia United Min -12.5% -12.5% -22.2% 0.0% 0.007 $12,898,042
MML Medusa Mining -12.8% -7.9% -29.9% -23.2% 0.645 $137,251,159
SBM St Barbara -13.0% -12.4% -30.4% -45.6% 1.235 $876,265,906
TTM Titan Minerals -13.0% 2.0% -16.7% -9.1% 0.1 $140,972,053
MKR Manuka Resources. -13.0% -6.3% 7.1% -22.1% 0.3 $30,447,319
LCY Legacy Iron Ore -13.0% -13.0% 33.3% -39.4% 0.02 $128,136,524
AQI Alicanto Min -13.0% -16.7% -37.5% -16.7% 0.1 $38,271,362
PNM Pacific Nickel Mines -13.0% 25.0% 63.9% 61.3% 0.1 $26,280,097
KSN Kingston Resources -13.2% -7.8% -29.8% -42.2% 0.1475 $49,938,638
NST Northern Star -13.3% -9.1% -14.0% -36.3% 8.44 $9,922,487,415
PUA Peak Minerals -13.3% -8.6% -23.0% -45.8% 0.013 $13,537,801
KZR Kalamazoo Resources -13.5% -12.3% -13.5% -43.9% 0.32 $46,462,200
RED Red 5 -13.6% -8.9% 37.8% 18.9% 0.255 $589,090,163
SAU Southern Gold -13.6% 0.0% -9.5% -45.7% 0.057 $12,799,725
CMM Capricorn Metals -13.7% -3.8% 67.8% 81.2% 3.08 $1,151,649,897
MM8 Medallion Metals. -13.7% 4.8% -15.4% 0.0% 0.22 $23,770,107
AL8 Alderan Resource -13.8% -28.6% -46.8% -76.2% 0.025 $11,064,718
MDI Middle Island Res -13.8% 13.6% 13.6% -58.3% 0.125 $15,302,278
AZS Azure Minerals -13.8% 15.7% 72.3% -27.0% 0.405 $111,864,860
TSO Tesoro Resources -14.0% -1.3% -52.3% -72.1% 0.074 $41,585,809
BGL Bellevue Gold -14.0% -12.4% -21.7% -28.2% 0.74 $742,573,210
CHN Chalice Mining -14.0% -13.4% 16.5% 70.7% 7.56 $2,573,920,187
MOH Moho Resources -14.1% -14.1% -19.1% -37.5% 0.055 $6,791,872
DDD 3D Resources -14.3% 0.0% -25.0% -27.4% 0.003 $11,641,116
RDS Redstone Resources -14.3% -20.0% 0.0% 0.0% 0.012 $7,908,990
RDT Red Dirt Metals -14.3% 0.8% 300.0% 158.8% 0.66 $158,359,137
ARN Aldoro Resources -14.3% -10.8% -25.0% 34.7% 0.33 $28,620,348
AXE Archer Materials -14.3% -5.3% -26.4% 29.5% 1.075 $235,188,847
SVL Silver Mines -14.6% -6.8% -4.7% -4.7% 0.205 $258,366,429
KTA Krakatoa Resources -14.8% 10.6% 8.3% -27.8% 0.052 $15,324,916
NML Navarre Minerals -14.9% 1.3% -16.7% -54.3% 0.08 $107,809,100
NCM Newcrest Mining -14.9% -9.6% -16.0% -16.6% 21.74 $18,780,319,606
MKG Mako Gold -15.0% -19.0% -8.6% -29.2% 0.085 $31,343,811
BMR Ballymore Resources -15.0% -2.9% 0.0% 0.0% 0.17 $12,491,274
AWV Anova Metals -15.0% -15.0% -10.5% -29.2% 0.017 $24,362,601
BRB Breaker Res NL -15.1% -22.4% 45.2% 15.4% 0.225 $71,685,004
SRN Surefire Rescs NL -15.4% 10.0% -21.4% -54.2% 0.011 $12,147,414
DCN Dacian Gold -15.5% -6.6% -29.0% -64.1% 0.1775 $189,888,486
AUT Auteco Minerals -15.6% 7.0% -33.9% -43.7% 0.076 $126,613,420
IVR Investigator Res -15.7% -15.7% -4.8% -15.7% 0.059 $78,348,850
RMS Ramelius Resources -15.8% -13.3% -19.9% -14.1% 1.305 $1,240,360,706
EVN Evolution Mining -15.9% -13.4% -16.1% -25.6% 3.49 $6,342,206,583
SFM Santa Fe Minerals -15.9% 42.3% 120.2% 96.8% 0.185 $13,471,476
HXG Hexagon Energy -16.0% -14.9% -12.5% -45.2% 0.063 $28,098,871
LM8 Lunnonmetals -16.4% 102.6% 51.9% 0.0% 0.79 $60,514,123
MRZ Mont Royal Resources -16.4% -10.3% 41.9% 1.7% 0.305 $17,792,465
LNY Laneway Res -16.7% -16.7% 0.0% -28.6% 0.005 $26,934,396
RMX Red Mount Min -16.7% 11.1% 11.1% -37.5% 0.01 $14,644,583
KWR Kingwest Resources -16.7% -2.8% 124.4% -5.4% 0.175 $40,090,549
KCN Kingsgate Consolid. -16.8% -0.8% 133.7% 94.4% 1.905 $401,696,622
CAI Calidus Resources -17.1% 17.5% 50.0% 62.1% 0.705 $276,182,860
FFX Firefinch -17.1% -12.7% 61.7% 235.9% 0.655 $742,225,806
CLA Celsius Resource -17.1% 52.6% -19.4% -44.2% 0.029 $29,511,386
RRL Regis Resources -17.1% -8.4% -29.3% -50.8% 1.74 $1,320,858,522
KCC Kincora Copper -17.2% 0.0% -47.8% 0.0% 0.12 $8,773,094
PGD Peregrine Gold -17.6% 17.0% 14.4% 0.0% 0.515 $16,129,822
NAE New Age Exploration -17.6% 27.3% 16.7% 7.7% 0.014 $18,666,686
OKR Okapi Resources -17.6% -23.3% -23.3% 33.3% 0.28 $29,847,413
OBM Ora Banda Mining -18.2% -18.2% -58.5% -82.9% 0.054 $54,556,572
S2R S2 Resources -18.2% -2.7% 20.0% -10.0% 0.18 $65,929,348
DLC Delecta -18.2% -18.2% 63.6% 28.6% 0.009 $10,844,178
BEZ Besragoldinc -18.5% 15.8% 0.0% 0.0% 0.11 $18,903,496
PNR Pantoro -18.6% -18.6% 39.0% 16.3% 0.285 $401,707,129
SLR Silver Lake Resource -18.7% -13.0% 3.4% -8.0% 1.5 $1,359,603,966
TMZ Thomson Res -19.0% 13.3% -35.2% -47.7% 0.068 $39,331,392
GBR Greatbould Resources -19.1% 1.9% 61.8% 187.5% 0.1375 $44,654,476
SLZ Sultan Resources -19.5% 0.0% -13.2% -17.5% 0.165 $11,125,502
FG1 Flynngold -19.7% -4.7% -10.3% 0.0% 0.1525 $9,832,588
GTR Gti Resources -20.0% -16.7% 26.9% -20.1% 0.02 $21,446,843
ERM Emmerson Resources -20.0% -14.3% 76.5% 71.4% 0.12 $57,297,426
TSC Twenty Seven Co. -20.0% 0.0% 0.0% -33.3% 0.004 $10,643,256
TAR Taruga Minerals -20.0% -7.7% -30.8% -28.0% 0.036 $20,482,400
MRR Minrex Resources -20.3% 63.9% 227.8% 145.8% 0.059 $38,060,044
LEX Lefroy Exploration -20.3% 0.0% -57.2% 47.5% 0.295 $43,762,400
VKA Viking Mines -20.6% -10.0% -38.6% -63.5% 0.0135 $13,328,360
PUR Pursuit Minerals -20.7% -11.5% -63.5% -39.5% 0.023 $22,693,181
WAF West African Res -20.9% -18.2% 2.6% 13.6% 1.0675 $1,092,228,014
WWI West Wits Mining -20.9% 6.3% -51.1% -49.0% 0.034 $62,499,904
NVA Nova Minerals -21.0% -22.4% -23.0% -52.2% 0.885 $154,973,965
MEI Meteoric Resources -21.1% -16.7% -69.4% -79.7% 0.015 $22,894,461
SPQ Superior Resources -21.1% 104.5% 200.0% 164.7% 0.045 $71,217,034
A8G Australasian Metals -21.6% 9.4% 255.9% 0.0% 0.525 $19,683,542
AM7 Arcadia Minerals -21.7% 11.9% 30.6% 0.0% 0.235 $7,582,834
NES Nelson Resources. -21.9% -21.9% -49.4% -68.9% 0.025 $4,857,305
DEG De Grey Mining -21.9% -3.0% -1.3% 16.6% 1.125 $1,638,483,407
NAG Nagambie Resources -22.2% -18.3% -38.8% -2.0% 0.049 $24,496,685
RSG Resolute Mining -22.2% -25.3% -50.4% -60.8% 0.28 $303,581,168
FAU First Au -23.1% 11.1% -16.7% -47.4% 0.01 $7,839,109
BTR Brightstar Resources -23.1% 16.3% 108.3% -15.3% 0.05 $25,155,600
ADN Andromeda Metals -23.5% 4.2% 10.3% -33.0% 0.1875 $471,908,139
ADV Ardiden -23.7% 31.8% 70.6% -42.0% 0.0145 $30,356,695
NPM Newpeak Metals -25.0% -25.0% -25.0% -50.0% 0.0015 $7,649,750
SKY SKY Metals -25.0% -4.5% 9.4% -40.0% 0.105 $37,678,347
ANL Amani Gold -25.0% 0.0% 0.0% 50.0% 0.0015 $22,875,564
AZL Arizona Lithium -25.7% 52.8% 391.1% 252.6% 0.1375 $269,381,481
KRM Kingsrose Mining -26.0% -10.8% 37.0% 51.0% 0.074 $52,254,056
HMX Hammer Metals -26.8% 13.0% -38.1% -40.2% 0.052 $43,194,715
VRC Volt Resources -26.9% -26.9% -40.6% 0.0% 0.019 $48,172,989
AAJ Aruma Resources -27.0% 21.7% 42.4% -6.7% 0.084 $10,454,805
GSM Golden State Mining -28.0% 9.8% -37.9% -45.5% 0.09 $7,477,919
BNR Bulletin Res -28.6% 44.9% 75.3% 22.3% 0.1 $25,535,297
XTC Xantippe Res -30.8% 80.0% 500.0% 260.0% 0.009 $41,896,711
GSN Great Southern -31.3% -35.3% -4.3% -43.6% 0.044 $23,424,152

There weren’t many winners this week.

The large producers in particular were unfairly punished. Is this a buying opportunity?

Ouch.

Despite rising production costs and associated COVID struggles these miners are still making good profits (and paying decent dividends).

African gold miner Perseus (ASX:PRU)  pushed gold production up 14% quarter on quarter to 128,378oz, with its 2021 output a massive 66% up year on year to 432,410oz.

Its costs fell on the higher production rate as well, with the company’s weighted all in sustaining costs decreased 3% of US$32/oz quarter on quarter to US$934/oz and 5% lower year on year to US$985/oz.

St Barbara (ASX:SBM) produced 65,523oz at $1587/oz in the December quarter, selling its gold bounty at an average margin of $836/oz with realised prices of $2423/oz.

Evolution Mining (ASX:EVN) produced 148,084oz of gold in the December quarter at lower all in sustaining costs of $1,347/oz, led by a big fall in costs from sustaining capex at the flagship Cowal mine in New South Wales, despite as much as 15% of its workforce being absent at times after contracting Covid or isolating as close contacts.

That was down from 170,681oz at $1413/oz in the September quarter, along with lower silver and copper production, but generated a 5% increase in operating mine cash flow to $202.7 million despite the sale of the Mt Carlton mine to Navarre Minerals (ASX:NML).

Evolution stock tumbled 16% on the weaker production numbers and a big drop in gold stocks generally after US Fed chair Jerome Powell confirmed the likelihood of interest rate rises to tame runaway inflation from March.

But EVN boss Jake Klein presented the news with a brave face, saying gold remained a standout commodity despite jitters that have impacted gold miners since the start of 2021.

“The gold price is over $2500/oz. I did reflect on the fact that when I started in the industry it was $300/oz, so if we’re not happy at $2500/oz we need to find another sector to operate in,” he said.