Gold Digger: Ounce-hungry gold miners investing big $$ in M&A, new developments

The gold price may be in a holding pattern at ~$US1,800/oz, but Aussie gold miners continue to throw piles of cash at acquisitions and new developments.

Westgold (ASX:WGX) looks increasingly likely to hoover up struggling producer Gascoyne (ASX:GCY) and its Dalgaranga operation, in a bid to increase annual gold output to 350,000ozpa and then 500,000ozpa over time.

Westgold, which paid a maiden dividend as a standalone gold miner this year, reported a record quarter in the three months to September 30 this week.

Ounces produced rose 16% on the June Quarter to 66,173oz at all in sustaining costs of $1,582/oz, with production records at Westgold’s Blue Bell, Bluebird and Comet mines.

Westgold ended the quarter with $139m in cash after selling its bounty at $2,322/oz for a notional revenue of $153m.

WGX, GCY share price charts

Australian mid-tier Gold Road Resources (ASX:GOR) is also hungry for growth, announcing a cheeky $166 million all-cash bid last week for Ramelius Resources’ (ASX:RMS) takeover target Apollo Consolidated (ASX:AOP) and its 1.1Moz Rebecca gold project.

GOR’s 350,000ozpa Gruyere JV with South Africa’s Gold Fields suffered from mill issues in the September quarter, resulting in lower-than-expected production of 59,371oz at all in sustaining costs of $1697/oz. Mined grades are expected to increase in the December Quarter.

GOR, RMS, AOP share price charts

Maintenance hit Australia’s biggest gold miner Newcrest (ASX:NCM) in the September quarter, with gold production sliding by 27% on the back of mill issues at its Cadia, Lihir and Telfer gold mines.

Newcrest saw production fall from 542,332oz in the June quarter at costs of US$799/oz to 396,214oz at US$1270/oz in the September Quarter.

The gold miner expects to produce 1.8-2Moz of gold and 125-130,000t of copper this financial year, having delivered 2,093,322oz of gold and 125-130,000t of copper in FY21.

Last week, Northern Star Resources (ASX:NST) and Silver Lake Resources (ASX:SLR) released decent numbers, while Red 5 (ASX:RED) is in a bit of a holding pattern from a production standpoint as it waits for the revamped King of the Hills operation to come online in the middle of next year.

Meanwhile, Evolution Mining (ASX:EVN) beat its production and all in sustaining cost guidance in a solid September Quarter to get its financial year off to a good start.

All in costs were considerably higher at $2038/oz — once growth capital was considered — with Evolution selling its bounty at a margin of $326 per ounce, delivering group cash flow of $30.2 million.

It focus now is on bedding down the Mungari operations near Kalgoorlie in WA, where it paid $400 million to incorporate Northern Star’s (ASX:NST) Kundana operations. Evolution is also progressing the $380 million development of the underground operation at Cowal.

NCM, NST, RED, SLR, EVN share price charts

USD (dark) and AUD (light) gold prices over the past 12 months. Sources: FastMarkets, ICE Benchmark Administration, Thomson Reuters, World Gold Council

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

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CODE	COMPANY	1 WEEK RETURN %	1 MONTH RETURN %	6 MONTH RETURN %	1 YEAR RETURN %	SHARE PRICE [INTRADAY FRI]	MARKET CAP
XTC	Xantippe Resources	67	150	100	67	0.005	$ 20,372,822.01
ARN	Aldoro Resources	24	24	36	453	0.525	$ 43,371,658.61
PRS	Prospech	20	13	-31	0	0.09	$ 5,866,290.45
ERM	Emmerson Resources	19	26	11	-5	0.082	$ 40,855,556.10
RMX	Red Mountain Mining	17	5	5	-25	0.0105	$ 16,109,041.32
KRM	Kingsrose Mining	16	28	18	79	0.059	$ 41,610,419.06
CBY	Canterbury Resources	15	10	5	-8	0.115	$ 13,822,830.95
AQI	Alicanto Minerals	14	39	33	-9	0.16	$ 49,330,119.15
BRV	Big River Gold	14	-7	-35	-49	0.25	$ 54,860,613.00
TMX	Terrain Minerals	13	0	-18	-25	0.009	$ 6,621,849.08
DDD	3D Resources	13	29	-10	-22	0.0045	$ 15,521,488.37
KNB	Koonenberrygold	12	9			0.185	$ 13,238,706.24
CDT	Castle Minerals	12	46	27	46	0.019	$ 15,468,203.72
CHZ	Chesser Resources	12	7	7	-37	0.145	$ 74,479,380.00
MRR	Minrex Resources	11	18	-5	-31	0.02	$ 11,687,741.10
NAG	Nagambie Resources	11	4	17	43	0.083	$ 40,494,520.03
MVL	Marvel Gold Limited	11	3	46	14	0.073	$ 41,683,162.18
DCX	Discovex Res	10	10	-21	-21	0.0055	$ 14,127,652.42
AQX	Alice Queen	10	10	-42	-62	0.011	$ 13,702,230.10
MRZ	Mont Royal Resources	10	1	16	11	0.395	$ 14,961,302.43
NMR	Native Mineral Res	9	9	-17		0.25	$ 7,059,307.50
KTA	Krakatoa Resources	8	-7	3	-26	0.064	$ 19,450,854.52
PDI	Predictive Disc	8	11	105	231	0.195	$ 251,704,083.22
RDS	Redstone Resources	8	27	27	-13	0.014	$ 10,065,986.88
PUR	Pursuit Minerals	8	-23	-51	173	0.0355	$ 32,795,487.06
A1G	African Gold .	7	10	-9	72	0.225	$ 25,753,931.91
DLC	Delecta Limited	7	25	150	150	0.015	$ 17,951,755.58
PNX	PNX Metals Limited	7	14	-6	-27	0.008	$ 29,217,548.09
MTH	Mithril Resources	7	14	-6	-45	0.016	$ 36,123,262.57
AZS	Azure Minerals	7	33	29	17	0.405	$ 131,637,681.43
SFM	Santa Fe Minerals	6	0	-15	-4	0.085	$ 6,189,597.07
SLR	Silver Lake Resources	6	32	-2	-25	1.68	$ 1,491,892,753.71
DGO	DGO Gold Limited	6	6	-19	-17	2.94	$ 229,164,713.25
PUA	Peak Minerals	6	12	-32	-32	0.019	$ 16,915,749.78
LCL	Los Cerros Limited	6	6	-23	-14	0.1425	$ 95,394,953.25
HXG	Hexagon Energy	5	9	-41	83	0.088	$ 39,249,216.78
PNR	Pantoro Limited	5	5	7	10	0.22	$ 317,024,707.05
VKA	Viking Mines	5	47	-35	41	0.022	$ 20,425,168.62
NAE	New Age Exploration	5	-8	-45	-18	0.0115	$ 15,794,888.01
HCH	Hot Chili	4	29	29	-6	0.049	$ 214,177,653.68
GED	Golden Deeps	4	14	4	-22	0.0125	$ 9,310,217.28
STN	Saturn Metals	4	7	2	-39	0.44	$ 50,113,456.95
TAR	Taruga Minerals	4	0	-7	-12	0.051	$ 26,115,060.31
KWR	Kingwest Resources	4	0	13	-38	0.13	$ 30,201,315.63
OKU	Oklo Resources	4	23	-10	-49	0.135	$ 70,564,173.68
POL	Polymetals Resources	4	8			0.135	$ 5,241,139.70
CST	Castile Resources	4	38	0	-37	0.27	$ 52,923,182.07
MAU	Magnetic Resources	4	1	5	41	1.66	$ 362,167,993.40
GBZ	GBM Rsources	4	26	26	-12	0.145	$ 73,487,349.52
TCG	Turaco Gold Limited	4	38	123	123	0.145	$ 49,150,167.30
BGL	Bellevue Gold	4	10	-5	-26	0.88	$ 833,953,684.27
RDT	Red Dirt Metals	4	17	297	183	0.735	$ 97,414,179.66
MML	Medusa Mining	3	7	-4	-6	0.775	$ 157,983,708.76
RMS	Ramelius Resources	3	22	-3	-23	1.5775	$ 1,292,622,558.15
BDC	Bardoc Gold	3	62	-15	-11	0.068	$ 116,262,244.19
AGG	AngloGold Ashanti	3	25	-7	-25	5.14	$ 451,391,290.90
SAU	Southern Gold	3	11	-18	-33	0.07	$ 15,786,327.94
ONX	Orminex	3	-3	-29	52	0.035	$ 19,351,308.34
VMC	Venus Metals Cor	3	6	3	-21	0.19	$ 28,704,949.77
AGS	Alliance Resources	3	30	15	-12	0.195	$ 40,563,341.13
GOR	Gold Road Res	3	15	11	-3	1.3675	$ 1,220,608,448.52
MGV	Musgrave Minerals	3	46	5	-22	0.395	$ 206,638,335.37
M24	Mamba Exploration	3	17	-13		0.205	$ 7,215,000.00
SSR	SSR Mining Inc.	2	8	7	-18	21.715	$ 456,058,315.44
HRN	Horizon Gold	2	21	13	-6	0.44	$ 46,944,487.04
MEU	Marmota Limited	2	-2	2	-2	0.045	$ 43,584,016.05
E2M	E2 Metals	2	-13	-22	-72	0.235	$ 37,617,803.25
ADT	Adriatic Metals	2	1	32	36	2.87	$ 530,069,162.56
BMR	Ballymore Resources	2	-4	0	0	0.25	$ 17,154,739.44
HAW	Hawthorn Resources	2	4	-7	-49	0.052	$ 17,342,811.88
ICL	Iceni Gold	2	22	25		0.275	$ 31,142,798.18
CEL	Challenger Exp	2	0	-22	24	0.28	$ 272,837,719.00
BC8	Black Cat Syndicate	2	6	-29	-22	0.56	$ 78,852,374.16
OKR	Okapi Resources	2	18	214	205	0.58	$ 58,502,933.82
AAU	Antilles Gold	1	-9	-18	63	0.077	$ 23,712,386.96
RXL	Rox Resources	1	8	-31	-52	0.385	$ 59,890,893.32
AAR	Anglo Australian	1	4	-28	-46	0.083	$ 50,079,056.08
LM8	Lunnonmetalslimited	1	-1			0.425	$ 32,555,066.30
AAJ	Aruma Resources	1	-12	14	-23	0.087	$ 10,958,650.76
SVY	Stavely Minerals	1	14	-24	-37	0.455	$ 118,737,460.66
AOP	Apollo Consolidated	1	51	83	75	0.595	$ 173,514,251.05
CAI	Calidus Resources	1	8	61	-2	0.605	$ 233,958,083.00
PKO	Peako Limited	0	-12	-41	-28	0.023	$ 6,477,536.12
SBR	Sabre Resources	0	25	0	-29	0.005	$ 8,446,568.25
ADV	Ardiden	0	-8	-15	-73	0.011	$ 23,686,688.92
RGL	Riversgold	0	-20	-59	-58	0.024	$ 10,101,054.90
VRC	Volt Resources	0	-6	30	200	0.03	$ 79,433,314.65
G50	Gold50Limited	0	9			0.24	$ 12,076,320.24
KSN	Kingston Resources	0	0	0	-22	0.21	$ 60,092,456.97
CY5	Cygnus Gold Limited	0	0	-10	-23	0.135	$ 14,636,713.23
TLM	Talisman Mining	0	-9	4	21	0.145	$ 27,222,216.92
BAR	Barra Resources	0	4	42	-18	0.027	$ 18,987,300.31
GUL	Gullewa Limited	0	-9	-1	-35	0.081	$ 15,420,221.10
TSC	Twenty Seven Co.	0	0	-9	-38	0.005	$ 13,304,069.53
FAU	First Au	0	-21	-48	-56	0.011	$ 8,451,145.34
GML	Gateway Mining	0	-5	-33	-5	0.018	$ 34,265,440.80
AYM	Australia United Min	0	22	10	-15	0.011	$ 18,425,774.85
GMR	Golden Rim Resources	0	0	-45	-50	0.006	$ 19,772,098.07
GNM	Great Northern	0	0	-27	-50	0.008	$ 9,672,407.81
SPQ	Superior Resources	0	8	8	-35	0.013	$ 19,537,088.68
LNY	Laneway Res	0	11	-17	-29	0.005	$ 19,520,329.67
SI6	SI6 Metals Limited	0	-4	-8	20	0.012	$ 17,851,799.81
CGN	Crater Gold Min	0	0	-15	55	0.017	$ 20,867,429.74
KGM	Kalnorth Gold	0	0	0	0	0.013	$ 11,625,120.78
TRY	Troy Resources	0	0	-47	-70	0.037	$ 30,073,993.35
IVR	Investigator Res	0	26	-13	43	0.073	$ 103,267,835.35
GRL	Godolphin Resources	0	7	-21	-52	0.15	$ 12,196,134.30
MHC	Manhattan Corp	0	0	-14	-52	0.012	$ 18,315,344.32
OZM	Ozaurum Resources	0	11	-9		0.15	$ 8,582,400.00
GIB	Gibb River Diamonds	0	11	22	-39	0.083	$ 17,132,265.05
M2R	Miramar	0	-12	-23	-56	0.18	$ 8,966,703.60
FG1	Flynngold	0	3			0.155	$ 9,383,087.75
RDN	Raiden Resources	0	-4	-21	-43	0.023	$ 28,671,277.99
FML	Focus Minerals	0	17	-5	-26	0.28	$ 51,169,598.20
SLZ	Sultan Resources	0	3	0	-31	0.18	$ 12,516,190.02
MAT	Matsa Resources	0	5	-10	-56	0.061	$ 21,489,277.20
ARV	Artemis Resources	0	22	2	-33	0.1	$ 124,244,767.45
IPT	Impact Minerals	0	0	-21	-29	0.015	$ 28,333,128.87
BAT	Battery Minerals	0	0	-26	-48	0.014	$ 27,341,632.93
GSM	Golden State Mining	0	-16	-22	-64	0.105	$ 8,724,238.43
SMI	Santana Minerals	0	47	61	19	0.25	$ 28,508,159.00
NCM	Newcrest Mining	0	12	-6	-19	24.82	$ 20,661,623,399.46
CYL	Catalyst Metals	0	15	-3	-13	2.09	$ 205,438,061.07
NST	Northern Star	-1	14	-12	-41	9.38	$ 11,052,160,278.51
AXE	Archer Materials	-1	-17	73	217	1.49	$ 363,069,671.75
CMM	Capricorn Metals	-1	18	42	44	2.51	$ 922,060,528.17
KCN	Kingsgate Consolid.	-1	13	89	96	1.65	$ 369,605,156.51
ANX	Anax Metals	-1	10	19	305	0.099	$ 35,018,389.00
WGX	Westgold Resources.	-1	20	-10	-31	1.935	$ 827,590,042.87
SVL	Silver Mines Limited	-1	18	-3	6	0.2175	$ 284,083,220.74
DEX	Duke Exploration	-1	-16	-44		0.1975	$ 17,591,174.64
DRE	Drednought Resources	-1	4	103	54	0.0385	$ 104,778,898.51
BNR	Bulletin Res	-1	15	10	8	0.075	$ 18,274,030.39
TAM	Tanami Gold NL	-1	-3	-6	-5	0.072	$ 84,606,987.31
WMC	Wiluna Mining Corp	-1	6	3	-45	1.025	$ 161,077,661.47
CHN	Chalice Mining	-2	0	-3	141	6.71	$ 2,438,802,823.80
ICG	Inca Minerals	-2	-6	2	120	0.1275	$ 62,522,839.21
YRL	Yandal Resources	-2	-11	-14	-27	0.445	$ 41,733,135.35
AUC	Ausgold Limited	-2	13	-8	-19	0.044	$ 66,584,680.72
MDI	Middle Island Res	-2	14	-14	-69	0.1075	$ 13,466,004.42
RVR	Red River Resources	-2	26	-2	-10	0.215	$ 111,469,864.92
EVN	Evolution Mining	-2	10	-21	-37	3.67	$ 6,800,204,595.24
MKR	Manuka Resources.	-3	17	-8	-21	0.385	$ 38,566,603.94
BNZ	Benzmining	-3	0	-14		0.7	$ 35,702,028.60
NSM	Northstaw	-3	10	-15	-35	0.32	$ 12,840,640.00
BCN	Beacon Minerals	-3	3	-9	1	0.032	$ 114,918,256.06
KAI	Kairos Minerals	-3	2	3	-32	0.03	$ 51,972,639.28
ALK	Alkane Resources	-3	14	26	-31	0.9	$ 536,025,078.00
AMI	Aurelia Metals	-3	28	-7	-21	0.3725	$ 469,230,409.84
PGD	Peregrine Gold	-3	6	53		0.435	$ 13,775,505.95
IDA	Indiana Resources	-3	5	-30	-3	0.058	$ 25,197,923.68
LEX	Lefroy Exploration	-3	15	-65	81	0.425	$ 52,898,853.48
STK	Strickland Metals	-3	63	305	-6	0.085	$ 97,305,431.85
S2R	S2 Resources	-3	-6	-49	-68	0.084	$ 29,935,487.82
RND	Rand Mining	-4	5	3	-35	1.55	$ 89,864,018.38
BMO	Bastion Minerals	-4	2	31		0.255	$ 18,376,607.60
G88	Golden Mile Res	-4	6	-47	-19	0.05	$ 8,550,916.40
RSG	Resolute Mining	-4	7	-9	-49	0.4225	$ 463,634,936.52
REZ	Resourc & En Grp	-4	18	18	-52	0.047	$ 20,288,997.08
BTR	Brightstar Resources	-4	38	34	31	0.047	$ 29,494,553.48
DCN	Dacian Gold	-4	10	-39	-39	0.225	$ 227,346,050.94
FFR	Firefly Resources	-5	-9	-5	-52	0.105	$ 30,525,613.47
TIE	Tietto Minerals	-5	14	46	-14	0.415	$ 187,579,853.87
VAN	Vango Mining	-5	-5	-15	-35	0.061	$ 68,148,440.86
MOH	Moho Resources	-5	-3	-18	-43	0.06	$ 6,093,248.72
RML	Resolution Minerals	-5	0	-26	-50	0.02	$ 11,761,433.90
CTO	Citigold Corp	-5	-13	-23	-33	0.01	$ 28,336,590.91
ZAG	Zuleika Gold	-5	-20	-50	-73	0.02	$ 8,201,867.46
AME	Alto Metals Limited	-5	25	8	-9	0.1	$ 45,025,973.60
NWM	Norwest Minerals	-5	-3	12	-22	0.078	$ 14,448,582.00
GMN	Gold Mountain	-5	-5	-54	-52	0.019	$ 20,332,834.23
QML	Qmines Limited	-5	12			0.38	$ 19,233,834.87
MCT	Metalicity Limited	-5	-5	-27	-53	0.0095	$ 19,293,943.79
AUT	Auteco Minerals	-5	1	-13	-39	0.076	$ 130,039,957.01
TNR	Torian Resources	-5	0	-36	-3	0.028	$ 27,462,588.60
BYH	Bryah Resources	-5	-5	-26	-10	0.053	$ 12,331,394.63
DTR	Dateline Resources	-5	1	-12	76	0.088	$ 38,537,994.44
FFX	Firefinch	-5	-2	69	294	0.61	$ 560,254,757.81
RED	Red 5 Limited	-5	21	37	-10	0.26	$ 600,871,966.26
PRU	Perseus Mining	-5	17	33	24	1.58	$ 1,993,825,551.25
BGD	Bartongoldholdings	-6	-3			0.17	$ 14,592,799.32
SBM	St Barbara Limited	-6	14	-23	-47	1.445	$ 1,039,457,126.79
PRX	Prodigy Gold NL	-6	-15	-25	-27	0.033	$ 19,809,338.60
WRM	White Rock Min	-6	16	-32	-37	0.33	$ 47,726,033.62
BRB	Breaker Res NL	-6	16	49	64	0.32	$ 105,898,301.93
TRN	Torrens Mining	-6	3	3		0.16	$ 11,146,390.08
PAK	Pacific American Hld	-6	0	-18	-31	0.016	$ 5,097,358.40
EMR	Emerald Res NL	-6	3	1	53	0.95	$ 507,666,248.90
MZZ	Matador Mining	-6	8	5	-5	0.385	$ 85,825,598.80
NVA	Nova Minerals	-6	30	3	-17	0.15	$ 259,555,445.77
OAU	Ora Gold Limited	-6	-6	-29	-38	0.015	$ 13,473,523.55
CAZ	Cazaly Resources	-6	10	-4	-6	0.044	$ 16,999,910.28
WAF	West African Res	-6	43	41	23	1.295	$ 1,118,136,172.95
TMZ	Thomson Res	-7	-4	-25	-8	0.086	$ 43,495,074.39
XAM	Xanadu Mines	-7	-13	-60	-36	0.028	$ 35,253,057.00
WCN	White Cliff Min	-7	17	-30	-65	0.014	$ 7,240,749.59
CLA	Celsius Resource	-7	4	-33	-18	0.027	$ 27,227,930.11
CDR	Codrus Minerals	-7	-18			0.135	$ 5,600,000.00
CWX	Carawine Resources	-7	0	-32	-38	0.2	$ 21,777,980.40
AL8	Alderan Resource	-7	-13	-47	-65	0.04	$ 17,022,643.20
MM8	Medallion Metals.	-7	-13	-18		0.2	$ 15,384,316.34
WWI	West Wits Mining	-7	-11	-52	-54	0.04	$ 62,417,154.63
TBA	Tombola Gold	-7	0	-15	-5	0.04	$ 26,640,422.72
NES	Nelson Resources.	-7	-2	-49	-39	0.04	$ 7,965,980.00
CXU	Cauldron Energy	-7	-19	-30	-33	0.026	$ 12,773,634.38
ALY	Alchemy Resource	-7	-5	-11	-34	0.013	$ 10,923,956.10
EM2	Eagle Mountain	-7	-3	-40	99	0.705	$ 156,223,923.57
TBR	Tribune Res	-7	-3	-6	-30	4.92	$ 258,142,938.84
HMX	Hammer Metals	-8	-10	-43	40	0.06	$ 48,809,677.38
HRZ	Horizon	-8	9	4	9	0.12	$ 70,996,900.00
DEG	De Grey Mining	-8	18	-23	-6	1.115	$ 1,575,194,348.00
NXM	Nexus Minerals	-8	22	361	193	0.41	$ 104,826,960.18
THR	Thor Mining PLC	-8	9	25	-24	0.0175	$ 10,601,410.55
PNM	Pacific Nickel Mines	-8	44	113	74	0.115	$ 26,877,979.88
MEG	Megado	-8	-4	-39	-65	0.092	$ 3,960,489.42
TTM	Titan Minerals	-8	10	10	-4	0.115	$ 153,044,484.78
A8G	Australasian Gold	-8	58			0.67	$ 26,244,230.98
AWV	Anova Metals	-9	0	-13	-22	0.021	$ 30,094,978.20
KAU	Kaiser Reef	-9	-2	-37	-48	0.21	$ 23,872,039.23
RRL	Regis Resources	-9	6	-23	-52	2.005	$ 1,532,196,717.24
ENR	Encounter Resources	-9	-9	18	-9	0.2	$ 58,599,956.76
SNG	Siren Gold	-9	37	9	-17	0.35	$ 24,602,859.34
NML	Navarre Minerals	-9	-13	-33	-64	0.087	$ 60,723,577.14
TG1	Techgen Metals	-10	-10	-24		0.19	$ 7,320,469.15
ZNC	Zenith Minerals	-10	15	-27	81	0.235	$ 75,930,556.96
KZR	Kalamazoo Resources	-10	9	-19	-43	0.365	$ 49,706,330.58
EMU	EMU NL	-10	-16	-48	-56	0.027	$ 13,995,434.52
SIH	Sihayo Gold Limited	-10	-10	-40	-63	0.009	$ 33,169,152.72
MKG	Mako Gold	-10	6	-8	-16	0.092	$ 36,312,952.19
SRN	Surefire Rescs NL	-10	0	-48	-65	0.013	$ 14,356,035.32
ASO	Aston Minerals	-11	-7	-11	178	0.125	$ 119,274,678.63
AWJ	Auric Mining	-11	-17	-32		0.125	$ 7,488,363.20
ARL	Ardea Resources	-11	1	-5	1	0.475	$ 69,017,109.50
AM7	Arcadia Minerals	-11	11			0.195	$ 6,498,000.00
DTM	Dart Mining NL	-12	5	-15	-45	0.11	$ 13,694,002.30
TRM	Truscott Mining Corp	-12	-3	26	45	0.029	$ 4,862,129.41
OBM	Ora Banda Mining	-12	-6	-64	-73	0.085	$ 82,809,082.93
KCC	Kincora Copper	-13	-18	-48		0.14	$ 10,076,700.90
BEZ	Besragoldinc	-13				0.14	$ 24,058,994.40
BBX	BBX Minerals	-13	-18	-38	-57	0.165	$ 75,573,543.38
GSN	Great Southern	-13	25	20	-29	0.066	$ 33,376,227.72
LCY	Legacy Iron Ore	-13	0	-32	63	0.013	$ 83,261,600.72
GTR	Gti Resources	-14	3	41	54	0.03	$ 26,949,155.61
AVW	Avira Resources	-14	0	-25	-50	0.006	$ 10,312,740.00
SKY	SKY Metals	-15	-3	-39	-56	0.089	$ 30,468,309.27
AGC	AGC	-16	-16	-38		0.105	$ 7,111,364.82
MEI	Meteoric Resources	-16	-28	-61	-70	0.021	$ 25,408,539.24
MBK	Metal Bank	-16	-16	-16	-36	0.008	$ 9,512,546.43
ANL	Amani Gold	-17	67	25	25	0.0025	$ 55,163,796.32
TSO	Tesoro Resources	-17	-17	-57	-76	0.083	$ 43,086,590.73
GBR	Greatbould Resources	-18	-3	198	153	0.155	$ 53,585,371.35
GWR	GWR Group	-19	-7	-56	-16	0.13	$ 42,390,102.02
MTC	Metalstech	-19	-13	257	197	0.345	$ 58,332,606.50
PF1	Pathfinder Resources	-19	-17	21		0.29	$ 14,844,131.40
ADN	Andromeda Metals	-20	23	-22	1	0.1725	$ 443,079,368.28
MLS	Metals Australia	-25	-40	-40	-25	0.0015	$ 10,477,114.72
NPM	Newpeak Metals	-25	-25	-25	-50	0.0015	$ 14,740,203.53

Small Cap Standouts

XANTIPPE RESOURCES (ASX:XTC)

This $8m market cap gold explorer is hunting for new projects in Argentina and Bolivia.

A recent Memorandum of Understanding (MoU) signed with Aussie-registered company Carolina Lithium “is the first step in considering resource opportunities within Latin America”, XTC says.

“Carolina has the specific intention of identifying, acquiring, and developing projects in Argentina and Bolivia,” it said this week.

“Xantippe hopes to announce further developments with Carolina Lithium in coming weeks as they arise.”

XTC tenements also holds ~60km of linear strike of the prospective Southern Cross Greenstone Belt, which has historically produced around 15Moz gold.

An early-stage auger drill program carried out at the Glendower, Kennyville West and Mt Caudin prospects last quarter uncovered anomalies at all three prospects. Further infill drilling is required to develop targets for deeper drilling, it says.

ALDORO RESOURCES (ASX:ARN)

In May, battery metals explorer ARN announced plans to spin out its portfolio of WA gold assets — including the Penny South, Ryans Find, and Unaly Hill South projects — into subsidiary Aurum Resources.

In August, Aurum lodged a Prospectus with ASIC to raise up to $5m in new equity via an IPO and ASX Listing.

$47m market cap Aldoro — which featured recently in our ‘forgotten resources stocks that could conceivably be the next multi-bagger’ series – is up ~250% year-to-date.