Gold Digger: Michael ‘Big Short’ Burry long on gold ETF; Buffett into Barrick; World Bank bullish

Pic via Getty Images

Michael Burry, eh? What’d he ever get right? Okay, one thing of note, and it sure was a biggie
According to an official filing, he’s been buying up a hefty amount in the Sprott Physical Gold Trust
Meanwhile, the World Bank’s gold index is pointing very much in the right direction

The price of gold was dipping a fraction Friday when we were checking it earlier this morning. Profit taking after recent all-time highs seems the most likely factor at play there.

Hang on, we just looked again, it’s now up a bit once more as we inch closer and closer to another relieving weekend (+0.13%: US$2,383, AUD$3,575).

Phew. All is right with the world.

Or not. Gold digs it when the macroeconomic and geo-political vortex swirls with uncertainty. Plenty of that lately.

But in any case, from what we’re seeing, the bullish sentiment for the precious yellow one is as strong as ever. Case in point… big shot, money-bags billionaire types competing with central banks for Smaug-like gold hoarding.

Burry and Buffett’s golden moves

Just recently it was revealed that the Oracle of Hating Bitcoin – Warren “All You Can Eat” Buffett – had, via his firm Berkshire Hathaway, surprisingly invested into major North American gold miner Barrick Gold, spurting about US$560m in its direction. All the while, slicing and selling off 13% of BH’s shares in Apple, by the way.

We say ‘surprising’ only because Buffett has famously had a long-held aversion to holding the yellow metal, labelling it an investment based on fear.

Of course, there is a bit of a difference in investing into a miner over the commodity itself, but still, it’s a head-turning… er… turnaround.

And this week it’s come to light that another famed US investor – Michael “Yes, Sigh, For the 500,000th time, I’m the Bloke Portrayed by Christian Bale in the Big Short” Burry – has been doing similar things. Selling Apple (and Google parent co. Alphabet) and buying gold.

Actually, in Burry’s case, it’s US$10 million worth of the Sprott Physical Gold Trust ETF ($PHYS) held by his Scion Asset Management investment firm.

Michael Burry is back! This time he’s loading up on $10 million worth of physical gold $PHYS pic.twitter.com/GilsdgaDZR

— Barchart (@Barchart) May 15, 2024

The holdings of both have been doing the rounds after being publicly revealed in their funds’ 13-F filings, lodged with the US Securities and Exchange Commission (SEC) 45 trading days after the end of each quarter.

This is an SEC stipulation for funds with more than US$100m in assets under management, by the way.

Burry, incidentally, who famously shorted mortgage securities in the run up to the 2007-2008 GFC, has also massively increased his bet on Chinese companies, boosting his stake in JD.com by 80 per cent and buying 50,000 new shares in Alibaba.

China… it rather likes gold at the moment, too. Just ask its central bank.

And, for good measure, want one more golden oldie American “bullionaire” making news of late?

Investment god and former hedge fund legend Ray Dalio confirmed he’s holding onto his gold as a buffer against out-of-control inflation and potential US and global debt crisis.

Dalio calls it: “a non-debt-backed form of money. It’s like cash, except unlike cash and bonds, which are devalued by risks of default or inflation, gold is supported by risks of debt defaults and inflation.”

World Bank precious metals index up 9%

The World Bank – provider of loans and grants to “developing”/piss poor countries – this week noted in its blog that its precious metals price index climbed 9 per cent in April 2024 (month on month), continuing its upward trajectory from the first quarter.

The bank’s index is expected to increase by 8 per cent in 2024 compared to 2023, it says, citing various things you probably already know as reasons.

We’ll list them anyway:

• Stronger gold demand from emerging markets and developing economies…

• … amid heightened geopolitical uncertainty. That’s key – strong safe-haven demand.

• And, it (like the World Gold Council) notes, record central bank buying – led by China, India, and Turkey – is also bolstering gold demand so far this year.

• Of particular note, it says, is the PBoC – China’s central bank – extension of its gold purchases for the 17th consecutive month in March, “setting a record for the longest reported streak of monthly purchases”.

WGC notes ‘silver lining’ for gold miner cost pressures

It’s not all golden sunshine and rainbows this week. Here’s something else that caught our eye.

The World Gold Council, via the Metals Focus Group’s Director of Mine Supply, Sarah Tomlinson, has shared some data this week regarding rising gold production costs for miners, globally.

The essential stat is: in Q4 ’23 gold miners’ global average all-in sustaining costs (AISC) rose again, up 2% q/q to US$1,342/oz.

This is being put down to persistent cost inflation and a tight labour market continuing to influence on-site operating costs.

BUT…

“There is a silver lining,” reads the note Stockhead received on this.

And that’d be the high/generally increasing price of gold this year easing the pressure on producer margins somewhat.

ASX Winners & Losers

Here’s how ASX-listed precious metals stocks are performing, circa 4pm May 17:

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

Stocks missing from this list? Please email [email protected]

Code	Company	Price	% Week	% Month	% YTD	Market Cap
MRR	Minrex Resources Ltd	0.011	0%	-15%	-1%	$13,018,410
NPM	Newpeak Metals	0.021	-5%	24%	1%	$2,595,986
ASO	Aston Minerals Ltd	0.013	18%	8%	-1%	$15,540,771
MTC	Metalstech Ltd	0.25	0%	43%	3%	$47,238,648
FFX	Firefinch Ltd	0.2	0%	0%	0%	$236,569,315
GED	Golden Deeps	0.048	20%	7%	0%	$5,545,073
G88	Golden Mile Res Ltd	0.011	-8%	-15%	-1%	$4,523,451
DCX	Discovex Res Ltd	0.002	0%	0%	0%	$6,605,136
NMR	Native Mineral Res	0.025	14%	-11%	1%	$4,616,711
AQX	Alice Queen Ltd	0.007	17%	17%	0%	$5,527,921
SLZ	Sultan Resources Ltd	0.011	0%	0%	-1%	$2,173,451
MKG	Mako Gold	0.013	0%	-7%	0%	$11,712,098
KSN	Kingston Resources	0.079	10%	11%	0%	$56,561,598
AMI	Aurelia Metals Ltd	0.19	0%	6%	8%	$329,504,644
PNX	PNX Metals Limited	0.004	-11%	-27%	0%	$23,880,859
GIB	Gibb River Diamonds	0.025	4%	-11%	-1%	$5,287,736
KCN	Kingsgate Consolid.	1.835	16%	25%	46%	$478,129,389
TMX	Terrain Minerals	0.004	33%	0%	0%	$5,010,847
BNR	Bulletin Res Ltd	0.05	0%	-6%	-9%	$14,680,666
NXM	Nexus Minerals Ltd	0.061	-6%	0%	1%	$22,954,548
SKY	SKY Metals Ltd	0.038	-19%	3%	0%	$22,403,020
LM8	Lunnonmetalslimited	0.305	5%	13%	-30%	$63,174,577
CST	Castile Resources	0.093	-1%	2%	1%	$22,496,926
YRL	Yandal Resources	0.115	0%	-23%	3%	$30,797,876
FAU	First Au Ltd	0.004	100%	100%	0%	$6,647,973
ARL	Ardea Resources Ltd	0.64	-2%	-14%	17%	$119,737,749
GWR	GWR Group Ltd	0.1	-9%	0%	1%	$35,333,832
IVR	Investigator Res Ltd	0.052	0%	0%	1%	$85,529,497
GTR	Gti Energy Ltd	0.006	20%	0%	0%	$12,299,683
IPT	Impact Minerals	0.024	9%	33%	1%	$63,023,486
BNZ	Benzmining	0.1325	-12%	-41%	-12%	$14,197,097
MOH	Moho Resources	0.005	25%	0%	-1%	$2,695,891
BCM	Brazilian Critical	0.025	4%	19%	0%	$18,648,920
PUA	Peak Minerals Ltd	0.0045	50%	50%	0%	$5,206,883
MRZ	Mont Royal Resources	0.053	-4%	-23%	-10%	$4,676,639
SMS	Starmineralslimited	0.029	-3%	-34%	-1%	$2,277,684
MVL	Marvel Gold Limited	0.009	0%	-10%	0%	$7,774,116
PRX	Prodigy Gold NL	0.003	20%	0%	0%	$6,041,322
AAU	Antilles Gold Ltd	0.011	0%	-45%	-1%	$10,796,885
CWX	Carawine Resources	0.1	-5%	-9%	-1%	$23,612,545
RND	Rand Mining Ltd	1.58	1%	1%	21%	$90,432,778
CAZ	Cazaly Resources	0.017	0%	-15%	-1%	$7,728,818
BMR	Ballymore Resources	0.16	14%	33%	4%	$28,276,894
DRE	Dreadnought Resources Ltd	0.017	-6%	-6%	-1%	$56,209,167
ZNC	Zenith Minerals Ltd	0.075	-6%	-23%	-8%	$26,428,566
REZ	Resourc & En Grp Ltd	0.013	0%	0%	0%	$8,109,475
LEX	Lefroy Exploration	0.1	1%	-26%	-8%	$21,048,141
ERM	Emmerson Resources	0.056	12%	17%	0%	$30,503,748
AM7	Arcadia Minerals	0.06	-8%	-40%	-1%	$6,543,006
ADT	Adriatic Metals	4.585	3%	11%	58%	$1,201,516,873
AS1	Asara Resources Ltd	0.011	-8%	22%	0%	$9,703,929
CYL	Catalyst Metals	0.865	11%	12%	6%	$192,755,063
CHN	Chalice Mining Ltd	1.7825	24%	36%	9%	$670,961,699
KAL	Kalgoorliegoldmining	0.03	0%	-9%	0%	$4,913,522
MLS	Metals Australia	0.021	0%	-9%	-2%	$14,854,760
ADN	Andromeda Metals Ltd	0.017	-11%	0%	-1%	$52,874,606
MEI	Meteoric Resources	0.185	-12%	-18%	-8%	$388,073,370
SRN	Surefire Rescs NL	0.01	-9%	0%	0%	$19,863,078
SIH	Sihayo Gold Limited	0.002	0%	33%	0%	$36,612,769
WA8	Warriedarresourltd	0.058	-8%	26%	1%	$36,513,141
HMX	Hammer Metals Ltd	0.037	-5%	-16%	-2%	$33,683,479
WCN	White Cliff Min Ltd	0.015	-12%	-6%	1%	$24,365,811
AVM	Advance Metals Ltd	0.028	12%	4%	-1%	$1,276,736
WRM	White Rock Min Ltd	0	-100%	-100%	-6%	$17,508,200
ASR	Asra Minerals Ltd	0.006	-14%	-14%	0%	$11,647,970
MCT	Metalicity Limited	0.0025	0%	25%	0%	$11,212,737
AME	Alto Metals Limited	0.037	6%	-12%	-1%	$28,139,404
CTO	Citigold Corp Ltd	0.007	17%	40%	0%	$21,000,000
TIE	Tietto Minerals	0.67	-1%	4%	6%	$768,148,602
SMI	Santana Minerals Ltd	1.135	4%	-11%	13%	$230,489,964
M2R	Miramar	0.011	22%	-8%	-1%	$2,046,956
MHC	Manhattan Corp Ltd	0.0025	25%	25%	0%	$7,342,449
GRL	Godolphin Resources	0.026	0%	-13%	-1%	$5,348,495
SVG	Savannah Goldfields	0.031	11%	19%	-2%	$8,994,717
EMC	Everest Metals Corp	0.125	34%	14%	5%	$22,178,220
GUL	Gullewa Limited	0.055	2%	-2%	0%	$11,262,521
CY5	Cygnus Metals Ltd	0.09	13%	10%	-5%	$25,657,204
G50	G50Corp Ltd	0.18	16%	0%	5%	$19,672,200
ADV	Ardiden Ltd	0.155	-3%	0%	-2%	$10,002,801
AAR	Astral Resources NL	0.081	23%	16%	1%	$77,447,095
VMC	Venus Metals Cor Ltd	0.082	-11%	-15%	-2%	$15,557,752
NAE	New Age Exploration	0.004	0%	0%	0%	$7,175,596
VKA	Viking Mines Ltd	0.01	-17%	-9%	0%	$10,252,584
LCL	LCL Resources Ltd	0.011	-8%	0%	-1%	$10,985,093
MTH	Mithril Resources	0.2	0%	0%	0%	$6,737,764
ADG	Adelong Gold Limited	0.004	14%	14%	0%	$4,321,956
RMX	Red Mount Min Ltd	0.001	0%	-33%	0%	$3,423,577
PRS	Prospech Limited	0.043	-10%	5%	1%	$12,156,692
TTM	Titan Minerals	0.025	-4%	-22%	0%	$43,624,328
NML	Navarre Minerals Ltd	0.019	0%	0%	0%	$28,555,654
MZZ	Matador Mining Ltd	0.074	-3%	9%	3%	$44,071,531
KZR	Kalamazoo Resources	0.115	21%	16%	-1%	$20,102,407
BCN	Beacon Minerals	0.026	-7%	-10%	0%	$97,675,972
MAU	Magnetic Resources	1.05	-3%	1%	3%	$270,900,623
BC8	Black Cat Syndicate	0.33	20%	27%	8%	$106,450,939
EM2	Eagle Mountain	0.079	14%	25%	0%	$32,608,619
EMR	Emerald Res NL	3.79	12%	8%	78%	$2,467,857,076
BYH	Bryah Resources Ltd	0.007	-7%	-30%	-1%	$3,048,175
HCH	Hot Chili Ltd	1.12	5%	-7%	4%	$158,779,727
WAF	West African Res Ltd	1.47	5%	12%	53%	$1,531,332,421
MEU	Marmota Limited	0.046	5%	7%	0%	$48,704,826
NVA	Nova Minerals Ltd	0.25	11%	-15%	-11%	$53,243,387
SVL	Silver Mines Limited	0.2	8%	5%	4%	$294,067,070
PGD	Peregrine Gold	0.285	24%	33%	5%	$19,684,742
ICL	Iceni Gold	0.08	-10%	208%	3%	$20,711,128
FG1	Flynngold	0.026	-7%	-42%	-2%	$6,872,707
WWI	West Wits Mining Ltd	0.014	-7%	-22%	0%	$35,533,175
RML	Resolution Minerals	0.0025	-17%	25%	0%	$3,220,044
AAJ	Aruma Resources Ltd	0.015	0%	-21%	-1%	$2,953,373
AL8	Alderan Resource Ltd	0.004	-20%	-33%	0%	$4,427,445
GMN	Gold Mountain Ltd	0.004	0%	0%	0%	$11,902,023
MEG	Megado Minerals Ltd	0.013	18%	30%	-2%	$3,562,378
HMG	Hamelingoldlimited	0.07	-1%	-8%	-1%	$10,080,000
TBA	Tombola Gold Ltd	0.026	0%	0%	0%	$33,129,243
BM8	Battery Age Minerals	0.14	40%	40%	-5%	$11,011,238
TBR	Tribune Res Ltd	3.76	-10%	-17%	81%	$207,248,904
FML	Focus Minerals Ltd	0.13	-4%	-30%	-6%	$40,118,210
GSR	Greenstone Resources	0.012	20%	33%	1%	$15,105,830
VRC	Volt Resources Ltd	0.005	-17%	0%	0%	$20,793,391
ARV	Artemis Resources	0.015	-6%	-12%	0%	$25,367,942
HRN	Horizon Gold Ltd	0.3	-6%	15%	0%	$43,451,977
CLA	Celsius Resource Ltd	0.01	0%	-17%	0%	$24,279,127
QML	Qmines Limited	0.082	21%	17%	0%	$18,933,014
RDN	Raiden Resources Ltd	0.051	24%	59%	1%	$134,829,255
TCG	Turaco Gold Limited	0.2275	8%	26%	10%	$179,541,334
KCC	Kincora Copper	0.035	0%	0%	-1%	$8,198,779
GBZ	GBM Rsources Ltd	0.011	22%	-21%	0%	$11,566,889
DTM	Dart Mining NL	0.027	4%	-23%	1%	$7,494,553
MKR	Manuka Resources.	0.059	-12%	-33%	-2%	$44,818,731
AUC	Ausgold Limited	0.027	4%	-16%	-1%	$64,291,954
ANX	Anax Metals Ltd	0.048	14%	78%	2%	$28,974,538
EMU	EMU NL	0.036	13%	20%	1%	$2,024,789
SFM	Santa Fe Minerals	0.04	-15%	-15%	0%	$2,912,752
SSR	SSR Mining Inc.	7.98	4%	1%	-784%	$35,833,122
PNR	Pantoro Limited	0.091	6%	18%	3%	$452,750,655
CMM	Capricorn Metals	4.77	2%	-7%	6%	$1,804,583,988
X64	Ten Sixty Four Ltd	0.57	0%	0%	0%	$130,184,182
SI6	SI6 Metals Limited	0.004	33%	33%	0%	$9,475,438
HAW	Hawthorn Resources	0.068	-3%	-4%	-3%	$22,781,062
BGD	Bartongoldholdings	0.335	8%	18%	7%	$75,367,665
SVY	Stavely Minerals Ltd	0.034	31%	10%	-1%	$13,749,843
AGC	AGC Ltd	0.29	193%	267%	22%	$65,555,555
RGL	Riversgold	0.01	67%	43%	0%	$8,708,953
TSO	Tesoro Gold Ltd	0.042	0%	31%	1%	$51,642,390
GUE	Global Uranium	0.105	-5%	6%	1%	$26,351,332
CPM	Coopermetalslimited	0.14	4%	27%	-20%	$11,361,569
MM8	Medallion Metals.	0.058	9%	-15%	-1%	$17,230,313
FFM	Firefly Metals Ltd	0.83	-3%	6%	20%	$385,316,838
CBY	Canterbury Resources	0.056	-13%	124%	3%	$10,304,454
LYN	Lycaonresources	0.31	-2%	7%	11%	$15,365,599
SFR	Sandfire Resources	9.64	-2%	5%	230%	$4,372,352,709
TMZ	Thomson Res Ltd	0.005	0%	0%	0%	$4,881,018
TAM	Tanami Gold NL	0.036	-3%	-10%	0%	$42,303,494
WMC	Wiluna Mining Corp	0	-100%	-100%	-21%	$74,238,031
NWM	Norwest Minerals	0.04	14%	-22%	1%	$15,524,780
ALK	Alkane Resources Ltd	0.62	9%	-6%	-4%	$371,146,650
BMO	Bastion Minerals	0.008	14%	0%	-1%	$3,444,671
IDA	Indiana Resources	0.078	-3%	-4%	0%	$48,230,847
GSM	Golden State Mining	0.012	9%	9%	0%	$3,073,077
NSM	Northstaw	0.038	0%	-5%	-1%	$5,315,280
GSN	Great Southern	0.019	-5%	-10%	0%	$15,532,190
RED	Red 5 Limited	0.4775	7%	12%	17%	$1,697,262,269
DEG	De Grey Mining	1.1725	-6%	-7%	-6%	$2,736,205,771
THR	Thor Energy PLC	0.015	-12%	-29%	-2%	$3,120,416
CDR	Codrus Minerals Ltd	0.05	16%	28%	-1%	$5,061,797
MDI	Middle Island Res	0.015	-6%	-17%	0%	$3,485,664
WTM	Waratah Minerals Ltd	0.1	-9%	-13%	-2%	$18,833,272
POL	Polymetals Resources	0.28	4%	-7%	-3%	$44,921,075
RDS	Redstone Resources	0.004	33%	-20%	0%	$3,701,514
NAG	Nagambie Resources	0.01	-17%	-23%	-2%	$7,966,357
BGL	Bellevue Gold Ltd	1.885	11%	0%	21%	$2,195,742,552
GBR	Greatbould Resources	0.061	0%	-8%	0%	$38,434,678
KAI	Kairos Minerals Ltd	0.012	9%	-8%	0%	$34,071,858
KAU	Kaiser Reef	0.145	7%	-9%	-3%	$24,801,365
HRZ	Horizon	0.052	37%	68%	1%	$36,451,151
CAI	Calidus Resources	0.13	0%	4%	-9%	$101,949,272
CDT	Castle Minerals	0.006	0%	0%	0%	$7,346,958
RSG	Resolute Mining	0.465	9%	8%	2%	$1,032,589,256
MXR	Maximus Resources	0.031	-3%	-19%	0%	$9,949,319
EVN	Evolution Mining Ltd	3.87	2%	0%	-9%	$7,804,499,589
CXU	Cauldron Energy Ltd	0.041	3%	3%	2%	$48,646,025
DLI	Delta Lithium	0.34	3%	26%	-13%	$238,991,393
ALY	Alchemy Resource Ltd	0.007	0%	0%	0%	$8,246,534
HXG	Hexagon Energy	0.019	-10%	0%	1%	$10,258,318
OBM	Ora Banda Mining Ltd	0.3225	4%	-1%	8%	$603,364,629
SLR	Silver Lake Resource	1.5925	8%	16%	40%	$1,495,590,933
AVW	Avira Resources Ltd	0.001	-33%	0%	0%	$2,663,790
LCY	Legacy Iron Ore	0.016	0%	0%	0%	$131,130,320
PDI	Predictive Disc Ltd	0.195	-3%	-3%	-2%	$444,486,377
MAT	Matsa Resources	0.03	0%	-6%	0%	$16,514,254
ZAG	Zuleika Gold Ltd	0.018	-5%	0%	0%	$12,513,454
GML	Gateway Mining	0.017	13%	-6%	-1%	$5,872,810
SBM	St Barbara Limited	0.27	13%	2%	6%	$216,762,151
SBR	Sabre Resources	0.02	5%	11%	-1%	$7,485,239
STK	Strickland Metals	0.098	-2%	-18%	0%	$165,740,052
ION	Iondrive Limited	0.012	71%	20%	0%	$5,835,423
CEL	Challenger Gold Ltd	0.07	1%	-18%	0%	$100,857,801
LRL	Labyrinth Resources	0.0055	10%	-8%	0%	$5,937,719
NST	Northern Star	14.705	1%	-3%	106%	$17,173,339,410
OZM	Ozaurum Resources	0.061	0%	49%	-9%	$9,525,000
TG1	Techgen Metals Ltd	0.049	29%	26%	-3%	$6,662,894
XAM	Xanadu Mines Ltd	0.07	6%	-3%	1%	$118,404,415
AQI	Alicanto Min Ltd	0.02	0%	-31%	-2%	$12,927,323
KTA	Krakatoa Resources	0.015	-6%	15%	-2%	$7,081,608
ARN	Aldoro Resources	0.075	15%	-6%	-5%	$9,423,662
WGX	Westgold Resources.	2.16	0%	3%	-2%	$1,032,497,551
MBK	Metal Bank Ltd	0.022	10%	-4%	-1%	$8,590,104
A8G	Australasian Metals	0.076	-5%	19%	-9%	$3,961,158
TAR	Taruga Minerals	0.01	11%	43%	0%	$6,354,241
DTR	Dateline Resources	0.0115	5%	-4%	0%	$15,980,636
GOR	Gold Road Res Ltd	1.5775	2%	-1%	-39%	$1,755,018,192
S2R	S2 Resources	0.12	0%	-11%	-5%	$58,871,539
NES	Nelson Resources.	0.003	0%	0%	0%	$1,840,783
TLM	Talisman Mining	0.335	20%	43%	10%	$61,204,113
BEZ	Besragoldinc	0.1	10%	0%	-5%	$41,810,091
PRU	Perseus Mining Ltd	2.39	4%	6%	54%	$3,324,574,740
SPQ	Superior Resources	0.009	-10%	-10%	0%	$16,009,763
PUR	Pursuit Minerals	0.0045	13%	-10%	0%	$11,775,886
RMS	Ramelius Resources	2.015	1%	2%	33%	$2,320,001,034
PKO	Peako Limited	0.005	0%	0%	0%	$2,635,424
ICG	Inca Minerals Ltd	0.007	0%	40%	0%	$4,828,433
A1G	African Gold Ltd.	0.027	4%	-12%	0%	$4,368,909
OAU	Ora Gold Limited	0.004	-20%	-33%	0%	$26,127,004
GNM	Great Northern	0.01	-9%	-9%	-1%	$1,546,291
KRM	Kingsrose Mining Ltd	0.047	24%	31%	1%	$33,863,693
BTR	Brightstar Resources	0.016	-6%	-11%	0%	$46,497,490
RRL	Regis Resources	2.03	-3%	-5%	-15%	$1,540,891,168
M24	Mamba Exploration	0.021	-5%	-22%	-3%	$3,865,728
TRM	Truscott Mining Corp	0.063	0%	-5%	1%	$10,922,125
TNC	True North Copper	0.07	1%	-33%	-4%	$28,970,916
MOM	Moab Minerals Ltd	0.005	0%	0%	0%	$3,559,815
KNB	Koonenberrygold	0.016	-6%	-20%	-2%	$4,604,600
AWJ	Auric Mining	0.2	18%	5%	8%	$29,710,674
AZS	Azure Minerals	3.69	0%	7%	-1%	$1,692,527,632
ENR	Encounter Resources	0.385	5%	12%	10%	$177,741,331
SNG	Siren Gold	0.08	10%	23%	1%	$15,686,301
STN	Saturn Metals	0.245	2%	14%	8%	$53,760,594
USL	Unico Silver Limited	0.165	6%	0%	4%	$47,848,255
PNM	Pacific Nickel Mines	0.04	60%	25%	-4%	$14,638,859
AYM	Australia United Min	0.003	0%	50%	0%	$5,527,732
ANL	Amani Gold Ltd	0.001	0%	0%	0%	$25,143,441
HAV	Havilah Resources	0.21	5%	8%	2%	$66,494,234
SPR	Spartan Resources	0.695	20%	12%	18%	$754,205,049
PNT	Panthermetalsltd	0.043	10%	26%	-2%	$3,748,145
MEK	Meeka Metals Limited	0.038	3%	9%	0%	$46,918,939
GMD	Genesis Minerals	1.87	6%	1%	8%	$2,103,625,005
PGO	Pacgold	0.155	7%	-14%	-4%	$13,463,270
FEG	Far East Gold	0.115	-8%	-23%	-1%	$28,334,552
MI6	Minerals260Limited	0.16	14%	7%	-16%	$37,440,000
IGO	IGO Limited	7.82	-2%	8%	-123%	$5,883,970,907
GAL	Galileo Mining Ltd	0.27	0%	0%	-2%	$53,358,730
RXL	Rox Resources	0.17	6%	-14%	-1%	$64,636,996
KIN	KIN Min NL	0.066	8%	-11%	0%	$77,757,936
CLZ	Classic Min Ltd	0.006	-14%	-33%	-4%	$2,013,417
TGM	Theta Gold Mines Ltd	0.14	-13%	-10%	3%	$110,288,675
FAL	Falconmetalsltd	0.155	3%	-6%	1%	$25,665,000
SXG	Southern Cross Gold	2.73	2%	26%	147%	$541,329,883
SPD	Southernpalladium	0.55	10%	29%	18%	$23,693,080
ORN	Orion Minerals Ltd	0.02	0%	43%	1%	$115,004,292
TMB	Tambourahmetals	0.076	15%	13%	-4%	$6,303,467
TMS	Tennant Minerals Ltd	0.024	14%	0%	-1%	$22,941,370
AZY	Antipa Minerals Ltd	0.013	8%	0%	0%	$53,752,503
PXX	Polarx Limited	0.0135	4%	4%	1%	$28,693,289
TRE	Toubani Res Ltd	0.135	13%	4%	-1%	$22,589,831
AUN	Aurumin	0.041	-2%	-15%	2%	$17,667,523
GPR	Geopacific Resources	0.022	5%	-12%	0%	$20,976,137
FXG	Felix Gold Limited	0.065	-14%	-23%	2%	$14,712,273
ILT	Iltani Resources Lim	0.315	85%	103%	16%	$11,563,572
ARD	Argent Minerals	0.02	5%	18%	1%	$27,185,272