Gold Digger: Market proves challenging for Australian gold plays
Mining
Mining
Australian unemployment figures and a surge of COVID-19 infections in Victoria have sent jitters through gold players.
The Australian Bureau of Statistics showed that Australian unemployment rose by 0.3 per cent to 7.4 per cent in June, the highest rate since November 1998.
However, total employment also improved over the month compared to May with 210,800 Australians finding some form of employment – mostly part-time.
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Meanwhile, Victoria continued to record higher numbers of infections with 428 new cases reported today.
The news weighed on ASX gold companies with just 34 of the 147 companies tracked by Stockhead showing gains this week.
However, the outlook for the precious metal remains strong with stimulus programs and market uncertainty remaining drivers for further price growth.
Analysts have already flagged that a $US2,000 an ounce gold price is likely before the end of this year and that it could climb further beyond that.
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TICKER | NAME | 1 WEEK RETURN % | 1 YEAR RETURN % | PRICE [intraday Friday] | MARKET CAP |
---|---|---|---|---|---|
GBR | GREAT BOULDER RESOURCES LTD | 39 | -2 | 0.053 | $ 6,672,699.50 |
ARL | ARDEA RESOURCES LTD | 33 | 9 | 0.34 | $ 43,987,664.00 |
KCN | KINGSGATE CONSOLIDATED LTD | 26 | 106 | 0.55 | $ 101,801,672.00 |
HRN | HORIZON GOLD LIMITED | 21 | 287 | 0.595 | $ 42,091,840.00 |
DAU | DAMPIER GOLD LTD | 21 | 35 | 0.035 | $ 9,915,482.00 |
FML | FOCUS MINERALS LTD | 20 | 20 | 0.3 | $ 54,824,568.00 |
CY5 | CYGNUS GOLD LTD | 20 | 86 | 0.2 | $ 14,867,705.00 |
CDV | CARDINAL RESOURCES LTD | 16 | 101 | 0.69 | $ 362,956,928.00 |
LNY | LANEWAY RESOURCES LTD | 14 | -11 | 0.008 | $ 29,880,528.00 |
ARV | ARTEMIS RESOURCES LTD | 14 | 167 | 0.085 | $ 82,705,560.00 |
ONX | ORMINEX LTD | 14 | -73 | 0.04 | $ 21,024,984.00 |
DGR | DGR GLOBAL LTD | 13 | -24 | 0.068 | $ 53,653,436.00 |
OKU | OKLO RESOURCES LTD | 11 | 183 | 0.34 | $ 162,948,032.00 |
TMX | TERRAIN MINERALS LTD | 11 | 150 | 0.009 | $ 7,231,610.00 |
AVW | AVIRA RESOURCES LTD | 10 | 83 | 0.006 | $ 8,250,000.00 |
BDC | BARDOC GOLD LTD | 9 | 73 | 0.096 | $ 139,571,504.00 |
MLL | MALI LITHIUM LTD | 8 | -9 | 0.14 | $ 44,428,736.00 |
GMR | GOLDEN RIM RESOURCES LTD | 8 | 27 | 0.013 | $ 19,131,946.00 |
TIE | TIETTO MINERALS LTD | 7 | 326 | 0.65 | $ 246,098,480.00 |
SFM | SANTA FE MINERALS LTD | 7 | -25 | 0.075 | $ 5,461,409.00 |
PGI | PANTERRA GOLD LTD | 6 | 85 | 0.05 | $ 9,757,082.00 |
AME | ALTO METALS LTD | 6 | 103 | 0.072 | $ 22,369,750.00 |
TRY | TROY RESOURCES LTD | 6 | 7 | 0.092 | $ 60,046,056.00 |
ARM | AURORA MINERALS LTD | 5 | 83 | 0.022 | $ 5,388,131.00 |
DGO | DGO GOLD LTD | 4 | 414 | 3.19 | $ 194,562,224.00 |
GWR | GWR GROUP LTD | 4 | -48 | 0.075 | $ 17,828,736.00 |
TSO | TESORO RESOURCES LTD | 4 | 116 | 0.086 | $ 42,390,160.00 |
AMG | AUSMEX MINING GROUP LTD | 3 | -76 | 0.03 | $ 16,427,049.00 |
TAM | TANAMI GOLD NL | 3 | 33 | 0.066 | $ 77,556,408.00 |
SLR | SILVER LAKE RESOURCES LTD | 2 | 90 | 2.28 | $ 2,077,015,424.00 |
VMC | VENUS METALS CORP LTD | 2 | 107 | 0.29 | $ 42,302,032.00 |
NVA | NOVA MINERALS LTD | 2 | 164 | 0.059 | $ 64,934,056.00 |
MML | MEDUSA MINING LTD | 1 | 13 | 0.73 | $ 151,689,840.00 |
MAU | MAGNETIC RESOURCES NL | 1 | 208 | 1.45 | $ 310,063,744.00 |
BAR | BARRA RESOURCES LTD | 0 | -9 | 0.02 | $ 11,333,799.00 |
GUL | GULLEWA LTD | 0 | 174 | 0.085 | $ 13,790,022.00 |
VRC | VOLT RESOURCES LTD | 0 | -4 | 0.02 | $ 36,077,900.00 |
SIH | SIHAYO GOLD LTD | 0 | 133 | 0.028 | $ 58,737,560.00 |
ANL | AMANI GOLD LTD | 0 | -25 | 0.0015 | $ 7,838,196.50 |
MLS | METALS AUSTRALIA LTD | 0 | 0 | 0.002 | $ 6,414,705.50 |
TSC | TWENTY SEVEN CO LTD | 0 | 100 | 0.005 | $ 7,431,604.50 |
AAJ | ARUMA RESOURCES LTD | 0 | 25 | 0.005 | $ 4,107,069.50 |
DHR | DARK HORSE RESOURCES LTD | 0 | -50 | 0.002 | $ 5,888,126.00 |
SVL | SILVER MINES LTD | 0 | 155 | 0.1175 | $ 116,073,872.00 |
KGM | KALNORTH GOLD MINES LTD | 0 | 0 | 0.009 | $ 8,942,401.00 |
OKR | OKAPI RESOURCES LTD | 0 | 12 | 0.185 | $ 6,667,930.00 |
VAN | VANGO MINING LTD | 0 | -24 | 0.12 | $ 99,767,344.00 |
NES | NELSON RESOURCES LTD | 0 | 42 | 0.054 | $ 5,740,107.00 |
DTR | DATELINE RESOURCES LTD | 0 | 0 | 0.002 | $ 16,420,156.00 |
SMI | SANTANA MINERALS LTD | 0 | -50 | 0.002 | $ 5,367,891.00 |
ARS | ALT RESOURCES LTD | 0 | 114 | 0.048 | $ 28,580,744.00 |
WGX | WESTGOLD RESOURCES LTD | -1 | 16 | 2.23 | $ 937,113,472.00 |
WAF | WEST AFRICAN RESOURCES LTD | -1 | 191 | 1 | $ 914,223,232.00 |
NST | NORTHERN STAR RESOURCES LTD | -1 | 23 | 14.71 | $ 11,065,257,984.00 |
PDI | PREDICTIVE DISCOVERY LTD | -1 | 627 | 0.08 | $ 69,206,448.00 |
RGL | RIVERSGOLD LTD | -1 | 299 | 0.066 | $ 20,643,212.00 |
TBR | TRIBUNE RESOURCES LTD | -2 | -3 | 7.05 | $ 375,671,424.00 |
BC8 | BLACK CAT SYNDICATE LTD | -2 | 163 | 0.855 | $ 84,398,168.00 |
SKY | SKY METALS LTD | -2 | 378 | 0.23 | $ 68,602,752.00 |
NCM | NEWCREST MINING LTD | -2 | 4 | 32.48 | $ 27,142,551,552.00 |
CMM | CAPRICORN METALS LTD | -2 | 144 | 1.8 | $ 609,484,736.00 |
BBX | BBX MINERALS LTD | -3 | -23 | 0.18 | $ 77,208,216.00 |
TAR | TARUGA MINERALS LTD | -3 | 70 | 0.036 | $ 14,449,789.00 |
SBM | ST BARBARA LTD | -3 | 13 | 3.595 | $ 2,552,233,472.00 |
PRX | PRODIGY GOLD NL | -3 | -45 | 0.069 | $ 40,643,932.00 |
BRV | BIG RIVER GOLD LTD | -3 | 230 | 0.033 | $ 42,175,496.00 |
E2M | E2 METALS LTD | -3 | -41 | 0.17 | $ 22,304,032.00 |
MEU | MARMOTA LTD | -3 | 222 | 0.059 | $ 46,496,568.00 |
AWV | ANOVA METALS LTD | -3 | 175 | 0.029 | $ 36,164,204.00 |
HAW | HAWTHORN RESOURCES LTD | -3 | 154 | 0.145 | $ 48,359,764.00 |
KWR | KINGWEST RESOURCES LTD | -4 | -10 | 0.135 | $ 17,066,752.00 |
AAR | ANGLO AUSTRALIAN RESOURCES | -4 | 125 | 0.14 | $ 63,016,132.00 |
ADN | ANDROMEDA METALS LTD | -4 | 220 | 0.049 | $ 75,397,216.00 |
CAI | CALIDUS RESOURCES LTD | -4 | 84 | 0.57 | $ 125,230,328.00 |
RRL | REGIS RESOURCES LTD | -4 | -2 | 5.39 | $ 2,815,826,432.00 |
HMX | HAMMER METALS LTD | -5 | 68 | 0.043 | $ 24,894,770.00 |
CXU | CAULDRON ENERGY LTD | -5 | 40 | 0.021 | $ 7,902,086.50 |
CHN | CHALICE GOLD MINES LTD | -5 | 715 | 1.1 | $ 350,555,104.00 |
RSG | RESOLUTE MINING LTD | -5 | -24 | 1.165 | $ 1,290,307,456.00 |
RND | RAND MINING LTD | -5 | -33 | 2.08 | $ 126,311,800.00 |
GOR | GOLD ROAD RESOURCES LTD | -5 | 34 | 1.78 | $ 1,623,071,744.00 |
GML | GATEWAY MINING LTD | -5 | 29 | 0.017 | $ 24,113,088.00 |
ALK | ALKANE RESOURCES LTD | -6 | 204 | 1.18 | $ 684,439,296.00 |
EMR | EMERALD RESOURCES NL | -6 | 55 | 0.59 | $ 313,962,080.00 |
RMS | RAMELIUS RESOURCES LTD | -6 | 171 | 2 | $ 1,603,849,344.00 |
EVN | EVOLUTION MINING LTD | -6 | 37 | 5.96 | $ 10,294,660,096.00 |
MAT | MATSA RESOURCES LTD | -6 | 11 | 0.15 | $ 34,060,104.00 |
AQI | ALICANTO MINERALS LTD | -6 | 15 | 0.06 | $ 14,947,917.00 |
SAR | SARACEN MINERAL HOLDINGS LTD | -6 | 57 | 5.74 | $ 6,717,218,304.00 |
BGL | BELLEVUE GOLD LTD | -7 | 65 | 1.03 | $ 819,903,552.00 |
ERM | EMMERSON RESOURCES LTD | -7 | -15 | 0.1 | $ 46,010,388.00 |
SAU | SOUTHERN GOLD LTD | -7 | 18 | 0.13 | $ 16,682,738.00 |
MOH | MOHO RESOURCES NL | -7 | 141 | 0.13 | $ 7,666,502.00 |
BCN | BEACON MINERALS LTD | -7 | 19 | 0.038 | $ 108,842,616.00 |
LEX | LEFROY EXPLORATION LTD | -7 | 19 | 0.25 | $ 22,107,084.00 |
NXM | NEXUS MINERALS LTD | -8 | 75 | 0.07 | $ 9,890,726.00 |
MEI | METEORIC RESOURCES NL | -8 | 46 | 0.036 | $ 44,327,316.00 |
PRU | PERSEUS MINING LTD | -8 | 113 | 1.3925 | $ 1,652,210,432.00 |
CYL | CATALYST METALS LTD | -8 | 26 | 2.6 | $ 216,711,200.00 |
TLM | TALISMAN MINING LTD | -8 | 112 | 0.17 | $ 27,994,258.00 |
MSR | MANAS RESOUCES LTD | -8 | 83 | 0.0055 | $ 15,858,975.00 |
MDI | MIDDLE ISLAND RESOURCES LTD | -8 | 214 | 0.022 | $ 51,808,636.00 |
VKA | VIKING MINES LTD | -9 | -17 | 0.01 | $ 3,137,178.50 |
BRB | BREAKER RESOURCES NL | -9 | -39 | 0.255 | $ 61,299,820.00 |
KZR | KALAMAZOO RESOURCES LIMITED | -9 | 311 | 0.725 | $ 96,452,664.00 |
RXL | ROX RESOURCES LTD | -10 | 436 | 0.073 | $ 141,940,480.00 |
WMX | WILUNA MINING CORP LTD | -10 | 19 | 1.31 | $ 132,374,488.00 |
A1G | AFRICAN GOLD LTD | -10 | -16 | 0.135 | $ 9,119,471.00 |
GED | GOLDEN DEEPS LTD | -10 | -69 | 0.01 | $ 3,507,607.00 |
RED | RED 5 LTD | -10 | -2 | 0.2175 | $ 450,534,432.00 |
AOP | APOLLO CONSOLIDATED LTD | -10 | 57 | 0.345 | $ 92,837,976.00 |
TNR | TORIAN RESOURCES LTD | -11 | 77 | 0.017 | $ 10,061,960.00 |
STN | SATURN METALS LTD | -11 | 97 | 0.68 | $ 62,006,640.00 |
AUT | AUTECO MINERALS LTD | -11 | 4025 | 0.165 | $ 258,584,528.00 |
GBZ | GBM RESOURCES LTD | -11 | 121 | 0.084 | $ 25,243,650.00 |
OAU | ORA GOLD LTD | -11 | 78 | 0.015 | $ 11,480,952.00 |
CGN | CRATER GOLD MINING LTD | -11 | -38 | 0.008 | $ 11,047,463.00 |
AGS | ALLIANCE RESOURCES LTD | -11 | 101 | 0.16 | $ 30,311,014.00 |
NUS | NUSANTARA RESOURCES LTD | -12 | 58 | 0.3 | $ 60,762,348.00 |
CWX | CARAWINE RESOURCES LTD | -12 | 76 | 0.185 | $ 13,908,397.00 |
GSN | GREAT SOUTHERN MINING LTD | -12 | 272 | 0.15 | $ 61,214,364.00 |
HRZ | HORIZON MINERALS LTD | -13 | 13 | 0.14 | $ 61,151,652.00 |
DTM | DART MINING NL | -13 | 65 | 0.175 | $ 12,368,253.00 |
CDT | CASTLE MINERALS LTD | -13 | 160 | 0.013 | $ 5,838,469.00 |
BNR | BULLETIN RESOURCES LTD | -13 | 420 | 0.078 | $ 13,805,567.00 |
RML | RESOLUTION MINERALS LTD | -13 | 123 | 0.078 | $ 16,101,828.00 |
NWM | NORWEST MINERALS LTD | -14 | -15 | 0.155 | $ 12,995,228.00 |
SLZ | SULTAN RESOURCES LTD | -14 | 142 | 0.155 | $ 9,673,175.00 |
GMN | GOLD MOUNTAIN LTD | -16 | -19 | 0.058 | $ 36,022,108.00 |
AYR | ALLOY RESOURCES LTD | -18 | 40 | 0.029 | $ 9,054,935.00 |
KTA | KRAKATOA RESOURCES LTD | -18 | 290 | 0.082 | $ 19,651,250.00 |
NAG | NAGAMBIE RESOURCES LTD | -18 | -4 | 0.045 | $ 24,996,618.00 |
GSM | GOLDEN STATE MINING LTD | -18 | 300 | 0.36 | $ 21,690,318.00 |
WWI | WEST WITS MINING LTD | -18 | 125 | 0.018 | $ 15,346,894.00 |
ALY | ALCHEMY RESOURCES LTD | -19 | 26 | 0.017 | $ 9,358,914.00 |
CTO | CITIGOLD CORP LTD | -20 | 0 | 0.004 | $ 13,005,866.00 |
DEG | DE GREY MINING LTD | -20 | 735 | 0.65 | $ 829,452,672.00 |
MTH | MITHRIL RESOURCES LTD | -20 | 300 | 0.021 | $ 38,355,508.00 |
MKG | MAKO GOLD LTD | -20 | 46 | 0.12 | $ 21,668,706.00 |
TTM | TITAN MINERALS LTD | -21 | -38 | 0.11 | $ 114,168,096.00 |
GNM | GREAT NORTHERN MINERALS LTD | -21 | 90 | 0.019 | $ 16,441,743.00 |
BYH | BRYAH RESOURCES LTD | -23 | -34 | 0.056 | $ 6,434,454.50 |
MCT | METALICITY LTD | -23 | 232 | 0.022 | $ 29,353,672.00 |
KRM | KINGSROSE MINING LTD | -24 | 12 | 0.039 | $ 26,280,264.00 |
AUC | AUSGOLD LTD | -26 | 127 | 0.035 | $ 43,141,784.00 |
DCN | DACIAN GOLD LTD | -26 | -20 | 0.3125 | $ 183,567,376.00 |
PUA | PURE ALUMINA LTD | -27 | -22 | 0.021 | $ 8,976,878.00 |
Great Boulder Resources (ASX:GBR) was the biggest gainer on our list after announcing that it had secured an option to earn up to 75 per cent in a high-grade gold project near Meekatharra in WA.
The Side Well gold project neighbours Westgold Resources’ (ASX:WGX) Murchison gold operations and is south of Doray Mineral’s (ASX:DRM) company making Andy Well gold mine.
This is a richly endowed area that has produced nearly 4 million ounces of gold and still holds over 2.7 million ounces in current resources.
Previous drilling by Doray Minerals at Side Well had returned notable results such as:
Managing director Andrew Paterson says the history of the Meekatharra field demonstrates this area keeps on giving.
“Westgold are mining underground at Paddy’s Flat, right in the historic centre of the field,” he added.
Meanwhile, Focus Minerals (ASX:FML) shares were up 20 per cent this week after the company upgraded its Beasley Creek South resource by 213 per cent to 115,761 ounces of contained gold.
Beasley Creek South is 400m south of the Beasley Creek deposit, which is a core asset of the company’s 100%-owned Laverton gold project.
The upgrade was based on recent shallow drilling campaigns that returned a top result of 17m at 9.28g/t gold from 168,
It also plans to complete a pre-feasibility study for the first stage of its Laverton project by the end of 2020.