Unearthing a discovery of biblical proportions — like  Hemi, Julimar, Boda, Haverion, Winu, or Oak Dam — often takes years of persistent, unsexy exploration work.

After many moons of underinvestment in the sector, figures released earlier this month show that ‘Programme of Work’ applications from WA explorers have hit a five-year high.

It’s not just WA, either. Exploration more generally is booming.

The gold industry is responsible for a huge chunk of the capital raised in 2020, as investors ride the wave of strong prices and positive sentiment into IPOs and cap raises; both often oversubscribed.

We’ve seen some doozy raises this month alone, led by De Grey’s (ASX:DEG) monster $100m at a 1 per cent premium to the 10-day volume weighted average price. Crazy.

And despite sentiment (and prices) softening this week, gold explorers like Norwest Minerals (ASX:NWM), takeover target Alto Metals (ASX:AME), and minnow Red Mountain Mining (ASX:RMX) have still been able to lock in cash to fund their upcoming (hopefully company making) exploration programs.

 

Winners & Losers

Here’s how 187 ASX-listed gold stocks performed September 21 – September 25 [intraday].

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

CODE NAME 1 WEEK CHANGE % 1 YEAR CHANGE % SHARE PRICE [INTRADAY FRI] MARKET CAP
SMI Santana Minerals 75 17 0.0035 $ 6,105,673.46
ADN Andromeda Metals 58 93 0.145 $ 203,386,833.00
CHN Chalice Gold Mines 54 1000 2.42 $ 756,460,996.20
MRZ Mont Royal Resources 42 49 0.355 $ 13,190,000.00
NVA Nova Minerals 35 161 0.115 $ 159,073,809.62
TSO Tesoro Resources 33 687 0.32 $ 119,933,788.64
DRE Dreadnought Resources 32 213 0.025 $ 48,204,491.14
ARV Artemis Resources 31 175 0.11 $ 123,182,547.07
CBY Canterbury Resources 29 -45 0.135 $ 12,602,190.99
NAG Nagambie Resources 28 16 0.064 $ 29,995,940.76
ENR Encounter Resources 27 46 0.19 $ 53,360,000.00
BBX BBX Minerals 25 156 0.5 $ 197,593,495.71
VKA Viking Mines 21 55 0.017 $ 4,705,767.84
FAU First AU 19 36 0.019 $ 7,880,000.00
CGN Crater Gold Mines 18 -19 0.013 $ 15,957,446.27
KTA Krakatoa Resources 17 400 0.115 $ 28,859,250.00
A1G African Gold 17 -13 0.17 $ 5,336,562.48
ALY Alchemy Resources 17 53 0.021 $ 13,444,869.06
TSC Twenty Seven Co. 14 78 0.008 $ 11,104,246.15
GUL Gullewa Limited 13 265 0.095 $ 15,004,594.50
TTM Titan Minerals 12 -24 0.14 $ 148,887,754.29
WMX Wiluna Mining 12 83 2.01 $ 201,944,836.68
BAR Barra Resources 10 5 0.023 $ 14,841,378.22
CEL Challenger Exploration 10 490 0.23 $ 117,832,461.40
WWI West Wits Mining 9 483 0.035 $ 40,292,269.67
CDT Castle Minerals 9 20 0.012 $ 5,838,469.09
NAE New Age Exploration 9 200 0.012 $ 10,665,364.92
SBR Sabre Resources 9 200 0.012 $ 15,007,755.10
MAR Malachite Resources 8 -58 0.042 $ 5,234,178.60
E2M E2 Metals 8 8 0.215 $ 27,552,039.06
BYH Bryah Resources 7 -20 0.059 $ 7,384,935.04
GMR Golden Rim Resources 7 10 0.016 $ 26,759,023.37
AVW Avira Resources 6 325 0.0085 $ 9,625,000.00
GWR GWR Group 5 105 0.205 $ 48,392,281.61
G88 Golden Mile Resources 5 -20 0.065 $ 7,469,047.98
SIH Sihayo Gold 5 34 0.022 $ 57,246,606.54
NWM Norwest Minerals 4 -40 0.12 $ 6,780,521.79
AL8 Alderan Resources 4 179 0.12 $ 31,420,000.00
NXM Nexus Minerals 4 72 0.079 $ 14,888,078.67
FML Focus Minerals 4 38 0.415 $ 76,754,397.30
HAW Hawthorn Resources 4 159 0.14 $ 43,357,029.69
PUA Peak Minerals 4 41 0.028 $ 13,408,550.81
HXG Hexagon Energy 3 2 0.06 $ 16,668,703.63
FFR Firefly Resources 3 161 0.17 $ 42,865,272.78
NES Nelson Resources 3 40 0.07 $ 8,265,754.22
KRM Kingsrose Mining 3 16 0.037 $ 27,010,272.02
HMX Hammer Metals 3 22 0.039 $ 26,210,079.91
AXE Archer Materials 2 307 0.55 $ 119,067,056.19
CAI Calidus Resources 2 109 0.585 $ 153,433,497.75
STK Strickland Metals 2 148 0.062 $ 25,086,091.26
CDV Cardinal Resources 1 121 1.06 $ 565,834,970.73
ARN Aldoro Resources 0 -35 0.1 $ 6,372,557.09
ANL Amani Gold 0 -50 0.02 $ 15,676,393.49
AAJ Aruma Resources 0 80 0.009 $ 9,115,311.22
CST Castile Resources 0 0 0.325 $ 64,905,789.33
CHZ Chesser Resources 0 203 0.2 $ 79,354,735.79
DTR Dateline Resources 0 50 0.003 $ 20,525,195.19
DCX Discovex Resources 0 -20 0.008 $ 8,373,148.53
ERX Exore Resources 0 14 0.12 $ 73,124,732.64
GML Gateway Mining 0 0 0.021 $ 38,042,320.72
GBR Great Boulder Resources 0 24 0.049 $ 9,026,868.96
KGM Kalnorth Gold 0 160 0.013 $ 11,625,120.78
MLL Mali Lithium 0 96 0.155 $ 54,795,371.85
MKR Manuka Resources 0 0 0.48 $ 33,332,695.72
MOH Moho Resources 0 33 0.11 $ 7,300,818.74
OAU Ora Gold 0 9 0.024 $ 20,180,285.33
PGI Panterra Gold 0 60 0.04 $ 7,415,382.66
RMX Red Mount Mining 0 14 0.008 $ 8,104,294.20
SKY SKY Metals 0 86 0.13 $ 32,064,477.64
TMX Terrain Minerals 0 300 0.016 $ 11,570,576.14
TNR Torian Resources 0 30 0.02 $ 14,627,794.22
ZNC Zenith Minerals 0 81 0.11 $ 32,379,603.30
ALK Alkane Resources -1 75 1.38 $ 821,636,544.00
SSR SSR Mining -1 -14 26.38 $ 417,400,000.00
AME Alto Metals -1 95 0.084 $ 24,700,322.50
MAU Magnetic Resources -2 135 1.18 $ 239,839,228.47
MHC Manhattan Corp -2 840 0.047 $ 61,008,819.88
MEI Meteoric Resources -2 -23 0.046 $ 55,809,645.57
SLZ Sultan Resources -2 215 0.205 $ 12,018,186.50
CYL Catalyst Metals -2 -6 2.42 $ 201,055,263.12
BC8 Black Cat Syndicate -3 65 0.775 $ 82,715,750.25
AUC Ausgold -3 90 0.038 $ 46,812,583.48
BCN Beacon Minerals -3 -14 0.038 $ 105,979,497.49
BNR Bulletin Resources -3 139 0.067 $ 11,654,049.81
AOP Apollo Consolidated -3 35 0.325 $ 87,456,066.75
BRV Big River Gold -3 216 0.06 $ 78,994,976.28
WGX Westgold Resources -3 -3 2.36 $ 962,327,318.30
GBZ GBM Resources -3 421 0.145 $ 44,451,613.49
SAR Saracen Mineral Holdings -3 43 5.02 $ 5,504,911,756.40
RML Resolution Minerals -4 46 0.054 $ 14,253,010.34
MAT Matsa Resources -4 -21 0.13 $ 35,249,072.17
HRZ Horizon -4 4 0.125 $ 61,257,024.00
MCT Metalicity -4 362 0.024 $ 34,579,785.00
GSN Great Southern Mining -4 113 0.115 $ 42,955,056.06
NCM Newcrest Mining -4 -15 31.36 $ 25,045,246,426.86
GMN Gold Mountain -5 -33 0.042 $ 28,545,821.81
TBR Tribune Resources -5 -13 7.4 $ 392,985,896.73
BDC Bardoc Gold -5 -26 0.078 $ 131,548,960.58
OKR Okapi Resources -5 -17 0.195 $ 7,028,358.87
SLR Silver Lake Resources -5 131 2.31 $ 2,017,968,658.09
AMI Aurelia Metals -5 -6 0.475 $ 406,402,465.61
CXU Cauldron Energy -5 111 0.038 $ 14,945,013.73
GRL Godolphin Resources -5 0 0.19 $ 13,278,695.43
OKU Oklo Resources -5 171 0.285 $ 143,515,496.61
MGV Musgrave Minerals -5 630 0.555 $ 256,009,833.90
CY5 Cygnus Gold -5 161 0.18 $ 18,370,814.18
RND Rand Mining -5 -37 1.98 $ 119,093,980.50
AAR Anglo Australian -5 90 0.175 $ 79,547,933.40
PDI Predictive Discovery -6 392 0.068 $ 56,024,265.34
VAN Vango Mining -6 -53 0.099 $ 97,372,089.89
MDI Middle Island Resources -6 129 0.016 $ 43,591,447.10
MEU Marmota -6 47 0.047 $ 45,497,583.43
CLA Celsius Resources -6 72 0.031 $ 22,626,324.35
LNY Laneway Resources -6 25 0.0075 $ 26,425,461.53
MML Medusa Mining -6 -5 0.8 $ 162,079,554.78
PUR Pursuit Minerals -7 40 0.014 $ 6,241,421.11
DAU Dampier Gold -7 13 0.027 $ 7,978,895.12
AGG AngloGold Ashanti -7 18 7.34 $ 628,020,000.00
HWK Hawkstone Mining -7 0 0.014 $ 17,080,000.00
ADV Ardiden -7 643 0.026 $ 52,004,672.10
CTO Citigold Corp -8 140 0.012 $ 28,882,405.30
EMR Emerald Resources -8 58 0.6 $ 298,791,035.06
RSG Resolute Mining -8 -42 91.25 $ 982,464,508.34
GTR GTI Resources -8 47 0.022 $ 14,080,000.00
EVN Evolution Mining -8 18 5.68 $ 9,448,631,217.20
DTM Dart Mining -8 46 0.17 $ 14,915,785.55
BRB Breaker Resources -8 -26 0.225 $ 73,314,209.03
DCN Dacian Gold -9 -66 0.032 $ 180,865,280.05
TAR Taruga Minerals -9 163 0.064 $ 28,346,493.37
ERM Emmerson Resources -9 -39 0.085 $ 41,042,579.29
TLM Talisman Mining -9 0 0.105 $ 18,662,838.50
KZR Kalamazoo Resources -9 123 0.67 $ 86,421,346.44
STN Saturn Metals -9 37 0.665 $ 72,128,899.15
PRU Perseus Mining -9 78 1.38 $ 1,595,994,176.76
NST Northern Star -9 16 13.5 $ 9,780,700,683.60
BGL Bellevue Gold -9 64 1.03 $ 839,897,473.00
VMC Venus Metals -9 33 0.24 $ 33,992,703.68
CWX Carawine Resources -10 32 0.235 $ 18,393,184.69
RXL Rox Resources -10 115 0.056 $ 112,520,565.47
AUT Auteco Minerals -10 2355 0.135 $ 203,733,261.68
RRL Regis Resources -10 3 4.99 $ 2,550,890,165.00
NME Nex Metals Exploration -10 491 0.065 $ 15,660,000.00
RGL Riversgold -10 299 0.053 $ 19,839,384.64
TRY Troy Resources -10 -15 0.094 $ 56,885,739.12
GOR Gold Road Resources -11 6 1.47 $ 1,284,690,132.08
SAU Southern Gold -11 -53 0.125 $ 19,999,597.50
TAM Tanami Gold -11 8 0.057 $ 66,980,531.62
WAF West African Resources -11 88 1.02 $ 862,963,219.14
OBM Ora Banda Mining -11 78 0.335 $ 280,870,000.00
SFM Santa Fe Minerals -11 -11 0.08 $ 5,825,503.12
RED Red 5 -11 -2 0.315 $ 591,174,300.30
SVL Silver Mines -11 86 0.195 $ 174,501,401.78
SBM St Barbara -11 -5 2.94 $ 2,068,386,764.22
PRX Prodigy Gold -12 -47 0.061 $ 35,418,283.97
GED Golden Deeps -12 -50 0.015 $ 7,538,169.79
PAK Pacific American -12 -38 0.022 $ 6,920,000.00
GSM Golden State Mining -12 105 0.215 $ 11,306,025.00
CMM Capricorn Metals -12 72 1.98 $ 670,516,873.65
MSR Manas Resources -13 133 0.007 $ 18,502,137.42
NUS Nusantara Resources -13 8 0.28 $ 59,522,202.88
DEG De Grey Mining -13 2181 1.3 $ 1,593,000,076.25
SI6 Six Sigma Metals -13 160 0.013 $ 15,510,314.50
VRC Volt Resources -13 31 0.013 $ 28,287,775.22
KCN Kingsgate Consolidated -14 113 0.89 $ 190,029,789.60
AGS Alliance Resources -14 60 0.21 $ 39,226,017.60
NPM Newpeak Metals -14 -25 0.003 $ 12,947,265.26
MZZ Matador Mining -14 57 0.415 $ 69,897,515.84
DGO DGO Gold -15 302 3.38 $ 222,651,626.12
LEX Lefroy Exploration -15 10 0.22 $ 25,121,686.25
TIE Tietto Minerals -15 102 0.495 $ 224,935,228.00
AMG Ausmex Mining -16 -52 0.048 $ 25,735,710.57
ARL Ardea Resources -16 -12 0.45 $ 55,512,524.47
MLS Metals Australia -17 -17 0.0025 $ 9,120,881.94
MTH Mithril Resources -17 471 0.04 $ 87,657,156.13
AQI Alicanto Minerals -17 127 0.17 $ 49,133,632.45
AZS Azure Minerals -17 -33 0.17 $ 42,383,707.98
GNM Great Northern Minerals -17 90 0.019 $ 17,150,472.47
RMS Ramelius Resources -18 59 2.03 $ 1,633,819,856.22
KWR Kingwest Resources -19 -46 0.145 $ 20,480,103.14
HRN Horizon Gold -21 27 0.37 $ 34,393,517.82
MKG Mako Gold -23 19 0.1 $ 20,941,515.14
AWV Anova Metals -24 89 0.025 $ 35,827,355.00
RDS Redstone Resources -25 67 0.015 $ 8,322,080.26
EUR European Lithium -25 -50 0.045 $ 32,270,000.00
MTC Metalstech -28 761 0.155 $ 19,617,983.89
XTC Xantippe Resources -29 -17 0.0025 $ 12,223,693.21
ONX Orminex -32 -83 0.021 $ 12,399,349.86

 

Small Cap Standouts

Mont Royal Resources (ASX:MRZ) will earn up to 70 per cent of the Wapatik gold-copper project in Canada from TSX-listed Azimut Exploration.

In January, Azimut hit the motherlode at the nearby ‘Patwon’ discovery. Spectacular hits like 3.15 grams per tonne (g/t) gold over 102m sparked a 200 per cent increase in its share price and prompted numerous junior explorers to pour into the region.

Tesoro Resources’ (ASX:TSO) El Zorro gold project in Chile is now 500 per cent bigger – a bit like the company’s share price, which is up +1000 per cent over the past six months. Pretty impressive stuff from the former online jewellery seller.

Fellow supercharged gold explorer Dreadnought Resources (ASX:DRE) is now up 820 per cent over the past six months. This week, the first eight holes of a drilling program at ‘Metzke’s Find’ in WA all hit the gold lode. Highlight intercepts included 4m at 19.9g/t, 45m from surface.

Gold-copper focused Encounter Resources (ASX:ENR) has partnered with BHP (ASX:BHP) to explore the 4,500sqkm Elliott copper project in the Northern Territory.

The global miner could earn up to 75 per cent of the project by spending $22m over 10 years. Encounter also has lucrative joint venture deals with long-term partner and major shareholder Independence Group (ASX:IGO) and gold miner Newcrest Mining (ASX:NCM).

And First Au’s (ASX:FAU) historic high-grade ‘Haunted Stream’ gold project has now received key approvals from the Victorian government.

Historic mine records dating back to the 1880s show ore being extracted from Haunted Stream at +1 ounce per tonne (about 28g/t) – but these old mines are yet to be tested by deeper drilling, First Au says.