Gold Digger: ‘Looks like M&A is back on the menu, boys!’
Mining
Mining
“Looks like meat’s back on the menu, boys!” roars a hungry Orc in the film Lord of the Rings: The Two Towers.
Substitute ‘meat’ with ‘mergers and acquisitions’, and ‘hungry orc’ with ‘gold-starved miners’, in this shitty metaphor and we set the stage for a deal-making blitz.
Gold M&A has been going through a dry spell. In 2019, gold M&A was worth $US26bn. In 2020, just $US9.8bn worth of deals have either been completed or agreed upon so far, according to Bloomberg.
Experts say the well received $16bn Northern Star (ASX:NST) — Saracen Mineral Holdings (ASX:SAR) mega merger announced this week could open the floodgates.
The fact that cashed up producers are hungry for more gold is also good news for potential small and medium-sized takeover targets.
Its more expensive, but often quicker and easier, for these major miners to replace their reserves through acquisitions rather than exploration.
In June, $1.45bn gold miner Perseus Mining (ASX:PRU) scooped up West African explorer Exore Resources (ASX:ERX) at a 69 per cent premium to the stock’s last closing share price.
Meanwhile, a fiery Russia vs China battle over 5 million oz gold project developer Cardinal Resources (ASX:CDV) has sent the stock up +320 since March. Who’s next?
The gold price continues to bounce around the $US1,900/oz mark. It was a decent week for ASX-listed stocks — 98 went up, 60 went down, and 35 stayed the same.
Here’s how 193 ASX-listed gold stocks performed October 05 – October 9 [intraday]
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:
CODE | NAME | 1 WEEK CHANGE % | 1 YEAR CHANGE % | PRICE | MARKET CAP |
---|---|---|---|---|---|
ENR | Encounter Resources | 51 | 100 | 0.28 | $ 74,418,616.52 |
RMX | Red Mountain Mining | 50 | 140 | 0.012 | $ 10,145,902.40 |
NXM | Nexus Minerals | 48 | 150 | 0.135 | $ 22,235,442.17 |
GBR | Great Boulder Resources | 38 | 41 | 0.069 | $ 14,104,482.75 |
STK | Strickland Metals | 30 | 264 | 0.091 | $ 39,301,542.97 |
TNR | Torian Resources | 30 | 146 | 0.026 | $ 19,016,132.49 |
AZS | Azure Minerals | 27 | 34 | 0.235 | $ 56,915,265.00 |
TSO | Tesoro Resources | 25 | 884 | 0.4 | $ 162,015,819.74 |
TRY | Troy Resources | 25 | 0 | 0.11 | $ 69,527,014.48 |
MEI | Meteoric Resources | 23 | -2 | 0.058 | $ 69,452,003.38 |
ARV | Artemis Resources | 23 | 332 | 0.16 | $ 167,976,200.55 |
DCN | Dacian Gold | 23 | -52 | 0.405 | $ 228,168,507.14 |
MAR | Malachite Resources | 23 | -46 | 0.054 | $ 5,109,555.30 |
KAI | Kairos Minerals | 20 | 457 | 0.078 | $ 125,464,987.35 |
VRC | Volt Resources | 20 | 5 | 0.12 | $ 24,246,664.48 |
AME | Alto Metals | 20 | 214 | 0.11 | $ 39,028,080.21 |
RGL | Riversgold | 18 | 339 | 0.066 | $ 26,452,512.86 |
VKA | Viking Mines | 18 | 82 | 0.02 | $ 5,960,639.26 |
GSM | Golden State Mining | 17 | 219 | 0.2875 | $ 14,069,720.00 |
CTO | Citigold Corp | 17 | 180 | 0.014 | $ 36,759,424.93 |
MSR | Manas Resources | 17 | 100 | 0.007 | $ 15,858,974.93 |
SAR | Saracen Mineral | 16 | 71 | 6.01 | $ 6,535,057,816.20 |
RXL | Rox Resources | 16 | 137 | 0.064 | $ 128,887,193.17 |
VMC | Venus Metals | 16 | 73 | 0.285 | $ 42,302,031.24 |
AUC | Ausgold | 16 | 87 | 0.043 | $ 49,413,282.56 |
TTM | Titan Minerals | 16 | -22 | 0.145 | $ 154,402,115.56 |
NML | Navarre Minerals | 16 | 37 | 0.185 | $ 97,639,587.18 |
NST | Northern Star | 15 | 37 | 15.9 | $ 11,573,829,142.26 |
CST | Castile Resources | 15 | 0 | 0.34 | $ 66,902,890.54 |
MTH | Mithril Resources | 14 | 540 | 0.032 | $ 66,786,404.67 |
TSC | Twenty Seven Co. | 14 | 60 | 0.008 | $ 11,104,246.15 |
ONX | Orminex | 14 | -79 | 0.025 | $ 12,938,452.03 |
A1G | African Gold | 13 | -29 | 0.17 | $ 5,336,562.48 |
TAR | Taruga Minerals | 13 | 222 | 0.068 | $ 32,918,508.43 |
MLL | Mali Lithium | 13 | 127 | 0.175 | $ 60,274,909.04 |
ARL | Ardea Resources | 13 | 22 | 0.53 | $ 64,244,831.69 |
MKG | Mako Gold | 13 | 41 | 0.1125 | $ 26,927,118.33 |
MTC | Metalstech | 13 | 959 | 0.18 | $ 25,649,336.65 |
MHC | Manhattan Corp | 12 | 820 | 0.046 | $ 61,008,819.88 |
SKY | SKY Metals | 11 | 90 | 0.15 | $ 36,997,474.20 |
BRV | Big River Gold | 11 | 244 | 0.062 | $ 80,333,874.18 |
KWR | Kingwest Resources | 11 | -45 | 0.155 | $ 22,285,609.41 |
CHN | Chalice Gold Mines | 10 | 1168 | 2.79 | $ 833,367,069.00 |
BGL | Bellevue Gold | 10 | 95 | 1.16 | $ 932,286,195.03 |
WGX | Westgold Resources | 10 | 13 | 2.65 | $ 1,101,003,307.40 |
AGS | Alliance Resources | 9 | 83 | 0.24 | $ 42,792,019.20 |
AIS | Aeris Resources | 9 | 19 | 0.058 | $ 108,130,000.00 |
RVR | Red River Resources | 9 | 16 | 0.185 | $ 82,843,898.72 |
TLM | Talisman Mining | 9 | 19 | 0.125 | $ 24,261,690.05 |
TAM | Tanami Gold | 8 | 42 | 0.064 | $ 72,856,016.85 |
SVL | Silver Mines | 8 | 118 | 0.205 | $ 205,295,766.80 |
MAT | Matsa Resources | 7 | -3 | 0.145 | $ 39,316,272.81 |
STN | Saturn Metals | 7 | 61 | 0.74 | $ 79,179,092.30 |
AUT | Auteco Minerals | 7 | 1775 | 0.15 | $ 219,405,051.04 |
CAI | Calidus Resources | 7 | 121 | 0.62 | $ 164,200,760.75 |
CLA | Celsius Resources | 7 | 107 | 0.031 | $ 24,186,760.51 |
TIE | Tietto Minerals | 7 | 118 | 0.545 | $ 236,202,989.40 |
DGO | DGO Gold | 7 | 335 | 3.5 | $ 243,062,215.56 |
MAU | Magnetic Resources | 7 | 147 | 1.2 | $ 257,124,938.63 |
WAF | West African Resources | 6 | 160 | 1.19 | $ 998,759,461.74 |
SFM | Santa Fe Minerals | 6 | -6 | 0.085 | $ 6,189,597.07 |
CHZ | Chesser Resources | 6 | 309 | 0.27 | $ 107,841,051.20 |
SLR | Silver Lake Resources | 6 | 169 | 2.44 | $ 2,123,713,740.61 |
BNR | Bulletin Resources | 6 | 192 | 0.073 | $ 12,371,222.11 |
CY5 | Cygnus Gold | 6 | 245 | 0.19 | $ 19,420,574.99 |
GML | Gateway Mining | 5 | 11 | 0.02 | $ 39,944,436.76 |
GNM | Great Northern Minerals | 5 | 100 | 0.02 | $ 18,053,128.92 |
FML | Focus Minerals | 5 | 53 | 0.42 | $ 73,099,426.00 |
MOH | Moho Resources | 5 | 38 | 0.105 | $ 7,300,818.74 |
AOP | Apollo Consolidated | 5 | 35 | 0.33 | $ 88,801,544.70 |
G88 | Golden Mile Resources | 5 | -6 | 0.066 | $ 7,381,099.68 |
TBR | Tribune Resources | 5 | -12 | 7.28 | $ 377,770,154.40 |
MGV | Musgrave Minerals | 5 | 670 | 0.57 | $ 265,883,679.60 |
GRL | Godolphin Resources | 4 | 0 | 0.235 | $ 14,640,612.91 |
RSG | Resolute Mining | 4 | -33 | 0.96 | $ 1,037,659,143.64 |
RMS | Ramelius Resources | 4 | 69 | 2.18 | $ 1,706,613,810.21 |
EMR | Emerald Resources | 4 | 55 | 0.62 | $ 319,546,268.34 |
SAU | Southern Gold | 4 | -48 | 0.125 | $ 19,999,597.50 |
GOR | Gold Road Resources | 4 | 31 | 1.53 | $ 1,324,286,745.74 |
CBY | Canterbury Resources | 4 | -37 | 0.135 | $ 10,429,399.44 |
DRE | Dreadnought Resources | 4 | 238 | 0.027 | $ 58,683,728.35 |
DAU | Dampier Gold | 3 | 25 | 0.03 | $ 7,978,895.12 |
MVL | Marvel Gold | 3 | -42 | 0.061 | $ 24,404,999.42 |
SBM | St Barbara | 3 | 12 | 3.1 | $ 2,130,178,686.62 |
BC8 | Black Cat Syndicate | 3 | 70 | 0.79 | $ 87,127,256.93 |
OKR | Okapi Resources | 3 | -31 | 0.18 | $ 6,127,287.22 |
NES | Nelson Resources | 3 | 8 | 0.073 | $ 7,806,545.66 |
CYL | Catalyst Metals | 3 | 9 | 2.67 | $ 220,831,190.64 |
PRU | Perseus Mining | 2 | 98 | 1.41 | $ 1,722,043,664.87 |
BBX | BBX Minerals | 2 | 105 | 0.44 | $ 182,980,586.31 |
EVN | Evolution Mining | 2 | 27 | 5.91 | $ 10,097,904,248.40 |
AMI | Aurelia Metals | 2 | 12 | 0.51 | $ 436,991,898.50 |
MRZ | Mont Royal Resources | 1 | 55 | 0.34 | $ 11,558,550.50 |
ALK | Alkane Resources | 1 | 89 | 1.43 | $ 848,429,040.00 |
KCN | Kingsgate Consolidated | 1 | 112 | 0.87 | $ 186,636,400.50 |
MZZ | Matador Mining | 1 | 69 | 0.44 | $ 74,711,453.96 |
ERM | Emmerson Resources | 1 | -34 | 0.089 | $ 42,973,994.79 |
CMM | Capricorn Metals | 1 | 65 | 1.82 | $ 598,307,364.18 |
AQI | Alicanto Minerals | 0 | 183 | 0.17 | $ 47,729,814.38 |
AAR | Anglo Australian | 0 | 48 | 0.155 | $ 87,670,309.81 |
BCN | Beacon Minerals | 0 | -14 | 0.038 | $ 108,843,808.23 |
CXU | Cauldron Energy | 0 | 138 | 0.038 | $ 14,945,013.73 |
DEG | De Grey Mining | 0 | 1973 | 1.29 | $ 1,554,768,074.42 |
ERX | Exore Resources | 0 | 14 | 0.12 | $ 73,124,732.64 |
GED | Golden Deeps | 0 | -48 | 0.014 | $ 7,538,169.79 |
GMR | Golden Rim Resources | 0 | 13 | 0.017 | $ 30,334,319.14 |
GUL | Gullewa | 0 | 224 | 0.11 | $ 17,373,741.00 |
HMX | Hammer Metals | 0 | 68 | 0.042 | $ 27,554,186.57 |
HAW | Hawthorn Resources | 0 | 137 | 0.14 | $ 48,359,763.89 |
HRN | Horizon Gold | 0 | 50 | 0.45 | $ 40,923,932.59 |
KAU | Kaiser Reef | 0 | 0 | 0.41 | $ 10,106,500.41 |
KGM | Kalnorth Gold | 0 | 44 | 0.013 | $ 11,625,120.78 |
LNY | Laneway Resources | 0 | 17 | 0.007 | $ 26,425,461.53 |
MEU | Marmota | 0 | 81 | 0.049 | $ 47,433,650.81 |
MCT | Metalicity | 0 | 342 | 0.023 | $ 34,598,353.68 |
MLS | Metals Australia | 0 | 25 | 0.0025 | $ 9,120,881.94 |
NPM | Newpeak Metals | 0 | -25 | 0.003 | $ 10,912,906.27 |
NVA | Nova Minerals | 0 | 170 | 0.1 | $ 145,438,911.65 |
OKU | Oklo Resources | 0 | 135 | 0.27 | $ 135,962,049.42 |
PAK | Pacific American Holdings | 0 | -40 | 0.022 | $ 6,291,698.00 |
PGI | Panterra Gold | 0 | 39 | 0.039 | $ 7,415,382.66 |
PUR | Pursuit Minerals | 0 | 11 | 0.01 | $ 4,801,093.16 |
RDS | Redstone Resources | 0 | 114 | 0.015 | $ 7,839,450.24 |
SBR | Sabre Resources | 0 | 233 | 0.01 | $ 11,255,816.32 |
SMI | Santana Minerals | 0 | -25 | 0.003 | $ 6,105,673.46 |
SLZ | Sultan Resources | 0 | 275 | 0.225 | $ 13,190,692.50 |
TMX | Terrain Minerals | 0 | 275 | 0.015 | $ 9,401,093.12 |
VAN | Vango Mining | 0 | -47 | 0.1 | $ 99,359,275.40 |
XTC | Xantippe Resources | 0 | 50 | 0.003 | $ 10,186,411.01 |
RRL | Regis Resources | 0 | 2 | 5.05 | $ 2,550,890,165.00 |
NCM | Newcrest Mining | 0 | -14 | 30.99 | $ 24,741,662,980.20 |
CDV | Cardinal Resources | 0 | 169 | 1.05 | $ 557,865,464.10 |
RND | Rand Mining | 0 | -33 | 2.08 | $ 125,108,828.00 |
BDC | Bardoc Gold | -1 | -20 | 0.078 | $ 136,741,682.70 |
AGG | AngloGold Ashanti | -2 | 20 | 7.3 | $ 635,159,286.80 |
NUS | Nusantara Resources | -2 | 11 | 0.295 | $ 62,710,892.32 |
MML | Medusa Mining | -2 | -4 | 0.79 | $ 156,884,697.26 |
AXE | Archer Materials | -2 | 241 | 0.5 | $ 113,450,685.62 |
AMG | Ausmex Mining | -2 | -52 | 0.045 | $ 24,640,573.95 |
CEL | Challenger Exploration | -2 | 464 | 0.22 | $ 120,572,751.20 |
RED | Red 5 | -2 | -1 | 0.3 | $ 610,880,110.31 |
DTM | Dart Mining | -3 | 18 | 0.16 | $ 14,477,085.98 |
PUA | Peak Minerals | -3 | 112 | 0.032 | $ 18,440,467.12 |
AWV | Anova Metals | -3 | 200 | 0.029 | $ 40,126,637.60 |
SSR | SSR Mining | -3 | 0 | 25.63 | $ 398,924,556.16 |
WMX | Wiluna Mining | -3 | 70 | 1.7 | $ 167,785,013.56 |
GBZ | GBM Resources | -4 | 264 | 0.135 | $ 46,097,969.54 |
NAG | Nagambie Resources | -4 | -10 | 0.054 | $ 26,996,346.68 |
S2R | S2 Resources | -4 | 74 | 0.27 | $ 85,020,618.33 |
KZR | Kalamazoo Resources | -4 | 132 | 0.66 | $ 88,385,467.95 |
MKR | Manuka Resources | -4 | 0 | 0.51 | $ 36,231,191.00 |
SI6 | Six Sigma Metals | -4 | 213 | 0.0125 | $ 13,294,555.28 |
ADV | Ardiden | -4 | 500 | 0.024 | $ 47,844,298.33 |
OBM | Ora Banda Mining | -4 | 114 | 0.36 | $ 301,827,408.48 |
BAR | Barra Resources | -4 | 15 | 0.023 | $ 15,515,986.32 |
OAU | Ora Gold | -4 | -23 | 0.023 | $ 19,339,440.11 |
ZNC | Zenith Minerals | -4 | 81 | 0.11 | $ 32,379,603.30 |
RML | Resolution Minerals | -4 | 19 | 0.043 | $ 12,296,714.80 |
GWR | GWR Group | -5 | 131 | 0.21 | $ 53,240,762.64 |
SIH | Sihayo Gold | -5 | 4 | 0.021 | $ 64,513,753.72 |
PDI | Predictive Discovery | -5 | 424 | 0.062 | $ 51,904,834.07 |
GMN | Gold Mountain | -5 | -26 | 0.04 | $ 28,276,159.38 |
GSN | Great Southern Mining | -5 | 79 | 0.1 | $ 40,922,042.00 |
ALY | Alchemy Resource | -5 | 42 | 0.018 | $ 12,100,382.15 |
E2M | E2 Metals | -6 | 31 | 0.235 | $ 30,832,043.71 |
CWX | Carawine Resources | -6 | 0 | 0.23 | $ 22,623,184.69 |
ADN | Andromeda Metals | -6 | 190 | 0.145 | $ 274,370,377.23 |
HWK | Hawkstone Mining | -7 | 30 | 0.013 | $ 15,858,786.78 |
BYH | Bryah Resources | -7 | 7 | 0.064 | $ 8,176,178.08 |
HXG | Hexagon Energy | -7 | -15 | 0.05 | $ 14,329,236.45 |
CDT | Castle Minerals | -8 | 33 | 0.012 | $ 5,838,469.09 |
WWI | West Wits Mining | -8 | 483 | 0.035 | $ 42,662,403.18 |
HRZ | Horizon | -8 | -18 | 0.115 | $ 59,637,396.00 |
LEX | Lefroy Exploration | -8 | 12 | 0.23 | $ 23,111,951.35 |
BRB | Breaker Resources | -8 | -28 | 0.22 | $ 73,314,209.03 |
CGN | Crater Gold Mines | -8 | -31 | 0.011 | $ 13,502,454.54 |
NSM | Northstaw | -9 | 0 | 0.42 | $ 17,200,000.00 |
NAE | New Age Exploration | -10 | 333 | 0.013 | $ 15,550,925.74 |
KRM | Kingsrose Mining | -11 | 13 | 0.034 | $ 24,820,249.97 |
AQX | Alice Queen | -11 | -22 | 0.032 | $ 46,901,758.47 |
FFR | Firefly Resources | -11 | 158 | 0.16 | $ 42,865,272.78 |
FAU | First Au | -11 | 7 | 0.016 | $ 8,807,438.81 |
MDI | Middle Island Resources | -12 | 114 | 0.015 | $ 41,438,406.66 |
AL8 | Alderan Resources | -13 | 192 | 0.14 | $ 35,344,841.54 |
DCX | Discovex Resources | -13 | -13 | 0.007 | $ 7,176,984.46 |
KTA | Krakatoa Resources | -16 | 133 | 0.084 | $ 21,832,650.00 |
DTR | Dateline Resources | -17 | 0 | 0.0025 | $ 20,525,195.19 |
AVW | Avira Resources | -20 | 167 | 0.008 | $ 11,000,000.00 |
ARN | Aldoro Resources | -25 | -54 | 0.083 | $ 5,376,845.04 |
ANL | Amani Gold | -25 | -57 | 0.0015 | $ 11,757,295.12 |
AAJ | Aruma Resources | -30 | 17 | 0.007 | $ 11,125,897.33 |
PRX | Prodigy Gold | -31 | -59 | 0.0455 | $ 29,612,007.91 |
NWM | Norwest Minerals | -35 | -44 | 0.1 | $ 7,992,105.90 |
Drilling has started at Encounter Resources’ (ASX:ENR) Aileron gold-copper project, a joint venture with gold miner Newcrest Mining (ASX:NCM) which is funding exploration.
Red Mountain Mining (ASX:RMX) is picking up gold nuggets off the ground at the Mt Maitland project, ahead of a maiden drill program which will kick off in the next seven to 10 days.
Big gold nuggets, like this one:
Drilling at Nexus Minerals’ (ASX:NXM) Wallbrook project in WA’s Eastern Goldfields region has returned high-grade hits including 2m at 12.93 grams per tonne (g/t) gold and 1m at 12.48g/t gold.
Promising results are also pending from a drill program at Torian Resources’ (ASX:TNR) Diorite East prospect.
And Tesoro Resources (ASX:TSO) continues to define wide gold zones at its El Zorro project in Chile. This small cap bolter is now up 884 per cent over the past 12 months.