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.

>>>Scroll down for the top small cap movers over the past week>>>

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.

 

Winners & Losers

Here’s how ASX gold stocks performed for the period July 10 – July 17 [intraday]:

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

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

 

Small cap highlights:

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:

  • 3m at 35.5 grams per tonne (g/t) gold from 76m;
  • 5m at 6.69g/t gold from 110m; and
  • 14m at 5.3g/t gold from 86m.

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.