On Monday, the ASX recorded one of its best days ever. The local bourse rallied hard in its final minutes on the government’s monstrous $130bn ‘JobKeeper’ subsidy, designed to keep the economy ticking over during the worst of the COVID-19 pandemic.

Gold stocks benefited from this broad-based uplift. Prior to that announcement we had 72 weekly winners on our list of 143 ASX gold stocks; a few minutes later that had jumped to 92.

The outlook remains good for gold – which loves drama – and bad for the wider market, despite countries promising to pump trillions into their economies to cushion the blow.

“If you’ve spent any time ocean fishing, you’re probably aware of the term ‘sucker hole’,” AxiCorp’s chief market strategist Stephen Innes said.

“[It is] a colloquial term referring to a short spate of good weather that ‘suckers’ sailors into leaving port just in time for a storm to resume at full force.”

This graph shows the relationship between the $US gold price (red) and the $AU gold price (orange).

Winners & Losers

Here’s how ASX gold stocks performed for the period March 23 — March 30 [intraday]:

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

CODE NAME PRICE [intraday Friday] 1 YEAR RETURN % 1 WEEK RETURN % MARKET CAP
PDI PREDICTIVE DISCOVERY 0.068 611 1180 $ 30,370,854.00
ARM AURORA MINERALS 0.015 69 167 $ 3,045,465.50
A1G AFRICAN GOLD 0.088 -58 110 $ 5,461,400.00
CHN CHALICE GOLD MINES 1.005 673 78 $ 283,660,512.00
TNR TORIAN RESOURCES 0.013 -7 63 $ 4,435,836.00
RML RESOLUTION MINERALS 0.13 107 60 $ 20,278,536.00
NVA NOVA MINERALS 0.048 213 57 $ 41,014,600.00
PUA PURE ALUMINA 0.014 -59 56 $ 3,104,651.50
AYR ALLOY RESOURCES 0.015 -50 50 $ 3,883,016.00
CDT CASTLE MINERALS 0.006 -14 50 $ 1,423,387.63
DHR DARK HORSE RESOURCES 0.003 -57 50 $ 7,393,189.00
AQI ALICANTO MINERALS 0.06 62 46 $ 13,681,144.00
TSC TWENTY SEVEN CO 0.007 75 40 $ 8,917,925.00
DTM DART MINING 0.05 -58 39 $ 3,157,955.25
BRV BIG RIVER GOLD 0.027 35 35 $ 34,267,128.00
ANL AMANI GOLD 0.002 0 33 $ 12,270,899.00
CTO CITIGOLD CORP 0.004 -20 33 $ 9,684,693.00
DEG DE GREY MINING 0.37 291 30 $ 327,314,368.00
GML GATEWAY MINING 0.013 -7 30 $ 17,415,008.00
TSO TESORO RESOURCES 0.059 110 28 $21,400,000.00
AAJ ARUMA RESOURCES 0.0025 -58 25 $ 1,418,827.75
ONX ORMINEX 0.045 -73 25 $ 19,407,678.00
TMX TERRAIN MINERALS 0.005 67 25 $ 2,892,644.00
SAU SOUTHERN GOLD 0.135 -6 23 $ 14,851,182.00
AAR ANGLO AUSTRALIAN RESOURCES 0.14 61 22 $ 62,678,632.00
HRZ HORIZON MINERALS 0.07 -42 22 $ 29,443,388.00
MAT MATSA RESOURCES 0.11 -21 21 $ 24,960,910.00
GOR GOLD ROAD RESOURCES 1.74 95 20 $ 1,535,100,416.00
RXL ROX RESOURCES 0.024 118 20 $ 36,448,680.00
TRY TROY RESOURCES 0.082 -4 17 $ 52,461,292.00
OKR OKAPI RESOURCES 0.055 -68 17 $ 1,982,357.63
AUC AUSGOLD 0.014 -26 17 $ 15,486,794.00
FML FOCUS MINERALS 0.25 -6 17 $ 44,773,400.00
HAW HAWTHORN RESOURCES 0.14 112 17 $ 44,093,108.00
VAN VANGO MINING 0.14 -18 17 $ 104,578,808.00
SLR SILVER LAKE RESOURCES 1.8 139 17 $ 1,566,122,496.00
AOP APOLLO CONSOLIDATED 0.23 -4 16 $ 57,855,552.00
MKG MAKO GOLD 0.044 -59 16 $ 4,474,023.50
BNR BULLETIN RESOURCES 0.037 106 16 $ 6,633,843.50
TIE TIETTO MINERALS 0.26 41 16 $ 96,772,696.00
KWR KINGWEST RESOURCES 0.15 -6 15 $ 18,895,334.00
ALK ALKANE RESOURCES 0.87 271 14 $ 516,229,632.00
NCM NEWCREST MINING 29.34 17 14 $ 22,545,160,192.00
BBX BBX MINERALS 0.12 -64 14 $ 45,473,088.00
MML MEDUSA MINING 0.52 35 14 $ 113,247,896.00
WGX WESTGOLD RESOURCES 2.08 43 13 $ 835,790,912.00
EMR EMERALD RESOURCES 0.42 6 13 $ 197,012,832.00
BCN BEACON MINERALS 0.035 88 13 $ 100,052,144.00
GUL GULLEWA 0.045 50 13 $ 6,980,539.50
HMX HAMMER METALS 0.02 -38 13 $ 11,176,616.00
MDI MIDDLE ISLAND RESOURCES 0.009 0 13 $ 17,652,782.00
NST NORTHERN STAR RESOURCES 13.05 46 12 $ 9,635,435,520.00
CAI CALIDUS RESOURCES 0.29 16 12 $ 64,943,440.00
SBM ST BARBARA 2.49 -17 11 $ 1,771,798,400.00
RSG RESOLUTE MINING 0.9525 -20 11 $ 1,034,560,256.00
WAF WEST AFRICAN RESOURCES 0.51 57 11 $ 457,080,160.00
DGO DGO GOLD 2.3 186 10 $ 80,018,672.00
BLK BLACKHAM RESOURCES 0.011 -8 10 $ 109,245,096.00
OKU OKLO RESOURCES 0.29 53 10 $ 118,078,288.00
GMN GOLD MOUNTAIN 0.06 -11 9 $ 32,525,314.00
GSN GREAT SOUTHERN MINING 0.051 34 9 $ 14,360,385.00
CWX CARAWINE RESOURCES 0.19 32 9 $ 14,681,085.00
BRB BREAKER RESOURCES 0.195 -51 8 $ 46,264,016.00
SPX SPECTRUM METALS 0.13 420 8 $ 187,266,976.00
GBZ GBM RESOURCES 0.068 13 8 $ 15,577,670.00
GWR GWR GROUP 0.07 -26 8 $ 17,828,736.00
MAU MAGNETIC RESOURCES 0.7 133 8 $ 145,173,728.00
TAM TANAMI GOLD 0.042 2 8 $ 49,354,076.00
EVN EVOLUTION MINING 4.84 46 7 $ 8,419,758,080.00
BDC BARDOC GOLD 0.065 44 7 $ 92,117,192.00
CMM CAPRICORN METALS 1.155 178 6 $ 396,934,176.00
TLM TALISMAN MINING 0.074 -14 6 $ 13,810,500.00
SAR SARACEN MINERAL HOLDINGS 4.22 67 6 $ 4,797,575,680.00
VMC VENUS METALS CORP 0.19 17 6 $ 27,949,556.00
CXU CAULDRON ENERGY 0.02 0 5 $ 7,149,507.00
E2M E2 METALS 0.064 -68 5 $ 5,879,666.50
KCN KINGSGATE CONSOLIDATED 0.44 69 5 $ 104,063,936.00
SVL SILVER MINES 0.088 125 5 $ 79,157,984.00
ARV ARTEMIS RESOURCES 0.024 -59 5 $ 24,715,668.00
STN SATURN METALS 0.345 77 5 $ 29,458,688.00
RMS RAMELIUS RESOURCES 1.11 44 4 $ 870,001,600.00
BGL BELLEVUE GOLD 0.52 -4 4 $ 378,538,720.00
MOH MOHO RESOURCES 0.083 -17 4 $ 3,925,249.00
AME ALTO METALS 0.06 55 3 $ 17,895,800.00
ADN ANDROMEDA METALS 0.035 450 3 $ 48,572,852.00
MEU MARMOTA 0.037 131 3 $ 31,279,510.00
PRU PERSEUS MINING 1 127 3 $ 1,214,777,728.00
AMG AUSMEX MINING GROUP 0.044 -65 2 $ 23,476,344.00
RRL REGIS RESOURCES 4.04 -17 2 $ 2,083,539,840.00
TBR TRIBUNE RESOURCES 5.85 42 1 $ 314,702,144.00
BC8 BLACK CAT SYNDICATE 0.385 120 1 $ 33,671,848.00
GSM GOLDEN STATE MINING 0.1 2 1 $ 3,259,731.75
ALY ALCHEMY RESOURCES 0.011 -18 0 $ 6,055,768.00
ARS ALT RESOURCES 0.021 -23 0 $ 12,148,383.00
AVW AVIRA RESOURCES 0.001 -67 0 $ 2,250,000.00
BSR BASSARI RESOURCES 0.013 -24 0 $ 31,040,814.00
BYH BRYAH RESOURCES 0.026 -60 0 $ 2,622,719.75
CGN CRATER GOLD MINING 0.011 -21 0 $ 13,502,455.00
DAU DAMPIER GOLD 0.022 -4 0 $ 5,235,692.00
DTR DATELINE RESOURCES 0.002 -20 0 $ 16,420,156.00
DGR DGR GLOBAL 0.07 -54 0 $ 38,017,276.00
GMR GOLDEN RIM RESOURCES 0.006 -54 0 $ 7,352,446.00
GBR GREAT BOULDER RESOURCES 0.028 -69 0 $ 3,736,711.75
GNM GREAT NORTHERN MINERALS 0.006 -76 0 $ 2,168,349.00
KGM KALNORTH GOLD MINES 0.003 -25 0 $ 2,682,720.25
KRM KINGSROSE MINING 0.029 -36 0 $ 21,170,214.00
LNY LANEWAY RESOURCES 0.004 -69 0 $ 16,740,297.00
MSR MANAS RESOUCES 0.002 -50 0 $ 5,286,325.00
MLS METALS AUSTRALIA 0.001 -50 0 $ 3,207,352.75
MTH MITHRIL RESOURCES 0.005 -17 0 $ 3,432,724.50
NXM NEXUS MINERALS 0.04 -32 0 $ 4,729,622.50
OAU ORA GOLD 0.013 63 0 $ 8,399,702.00
PGI PANTERRA GOLD 0.022 16 0 $ 4,293,116.50
RED RED 5 0.235 76 0 $ 328,469,376.00
RGL RIVERSGOLD 0.008 -67 0 $ 1,978,029.75
SFM SANTA FE MINERALS 0.05 -39 0 $ 3,640,939.50
SMI SANTANA MINERALS 0.003 -25 0 $ 8,051,836.50
SIH SIHAYO GOLD 0.013 -7 0 $ 27,271,010.00
TAR TARUGA MINERALS 0.009 -75 0 $ 2,920,813.50
TTM TITAN MINERALS 0.067 -71 0 $ 51,087,356.00
VKA VIKING MINES 0.005 -44 0 $ 1,568,589.25
WWI WEST WITS MINING 0.01 11 0 $ 10,312,841.00
MLL MALI LITHIUM 0.043 -72 -2 $ 14,280,665.00
NWM NORWEST MINERALS 0.165 21 -3 $ 13,833,630.00
RND RAND MINING 1.715 -23 -3 $ 103,154,632.00
HRN HORIZON GOLD 0.19 23 -5 $ 15,306,123.00
CDV CARDINAL RESOURCES 0.36 -14 -5 $ 190,009,312.00
CYL CATALYST METALS 2.1 2 -5 $ 182,103,216.00
PRX PRODIGY GOLD NL 0.033 -62 -6 $ 20,902,594.00
NUS NUSANTARA RESOURCES 0.235 27 -6 $ 43,205,828.00
NAG NAGAMBIE RESOURCES 0.04 -33 -7 $ 21,497,090.00
NES NELSON RESOURCES 0.035 -59 -8 $ 1,954,405.25
ARL ARDEA RESOURCES 0.28 -28 -8 $ 32,257,620.00
AWV ANOVA METALS 0.008 -30 -9 $ 6,891,323.00
LEX LEFROY EXPLORATION 0.15 -21 -12 $ 16,077,879.00
BAR BARRA RESOURCES 0.014 -53 -13 $ 8,351,220.50
GED GOLDEN DEEPS 0.007 -80 -13 $ 1,964,259.88
ERM EMMERSON RESOURCES 0.07 -13 -13 $ 29,739,772.00
SLZ SULTAN RESOURCES 0.07 18 -13 $ 3,095,644.50
AGS ALLIANCE RESOURCES 0.09 -1 -14 $ 13,863,450.00
CY5 CYGNUS GOLD 0.035 -17 -15 $ 2,798,294.25
KTA KRAKATOA RESOURCES 0.036 44 -23 $ 8,750,000.00
DCN DACIAN GOLD 0.365 -73 -57 $ 114,213,640.00

 

SMALL CAP MOVERS

Alaskan explorer Nova Minerals (ASX:NVA) sees something in minnow Torian Resources (ASX:TNR).

Nova has invested $413,000 in the Goldfields explorer, which jumped 100 per cent for the week.

“This strategic investment provides Nova with exposure to over 400sqkm tenement package in the prolific Kalgoorlie Leonora Greenstone Gold Belt regions in Western Australia,” Torian non-exec director Angus Middleton says.

“In turn Torian will greatly benefit from Nova’s technical team’s expertise in unlocking significant value economically.

“Testament to this is Nova’s flagship 2.5-million-ounce Estelle gold project in Alaska with discovery costs reported at under $1 per discovery ounce.”

West African explorer Tietto Minerals (ASX:TIE) has recovered some of its early 2020 losses, and is up 56 per cent on some very good drilling results.

Drilling underneath the 1.38-million-ounce AG deposit has intersected “multiple stacked lodes of high-grade gold mineralisation over good widths”.

“ZDD180 has reported multiple high-grade lodes; 10m at 12.09 grams per tonne (g/t) from 286m and 6m at 9.35g/t from 317m within this structure,” says managing director Dr Caigen Wang.

“In aggregate, these intervals report just under 200 gold gram metres.

“This is a high impact hole that will significantly add to the high-grade core of the AG resource.”

READ: Barry FitzGerald — Why Tietto could be in the sights of the growth-hungry gold producers

Of the majors, Africa-focused Resolute Mining (ASX:RSG) was the biggest mover, up 34 per cent over the week.

On Thursday, it announced that gold production had not been impacted by government-regulated COVID-19 restrictions so far.

Mining and processing operations are continuing as normal at the Syama mine in Mali and Mako mine in Senegal, “and the company has not amended current production or cost guidance in response to COVID-19”, it said.

READ: The African economic boom is coming, but the time for investment is right now