Gold Digger: The average ASX gold stock has gained 160pc over the past year
Link copied to
It’s harder to pick a losing gold stock in 2020. In February, 19 per cent of ASX gold stocks on our list had gained 100 per cent or more over the previous 12 months.
In June, that number had increased to 27 per cent. By July it was 40 per cent.
That statistic has stayed reasonably steady since – despite some recent gold price volatility — with ~41 per cent of the 218 stocks now on our list making gains of 100 per cent over the last year.
The average gain for the 218 stocks on our list is a very impressive 160 per cent (In early October it was 112 per cent).
That includes two 20-baggers, De Grey (ASX:DEG) and Chalice Gold (ASX:CHN), and four 10 baggers; West Wits Mining (ASX:WWI), Metalstech (ASX:MTC), Auteco Minerals (ASX:AUT), and Surefire Resources (ASX:SRN).
Congrats to punters who picked those winners early on.
And this is all on a gold bull run still in its nascent stages.
Analysts at Goldman Sachs now say prices — treading water at ~$US1900/oz as vaccine news pushes investors into riskier assets – will surge another 22 per cent to $US2300/oz in 2021.
Here’s how ASX-listed gold stocks performed November 16 – November 20 [intraday].
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:
Gateway Mining (ASX:GML) made a “breakthrough” high-grade discovery at its Gidgee project in WA, with one hole hitting a remarkable 10 metres at 9.2 grams per tonne gold.
The hole was part of a reverse circulation drilling campaign designed to test for gold between Gateway’s cornerstone +240,000oz Whistler and Montague-Boulder deposits at Gidgee.
The new mineralised structure labelled the ‘Lower Zone’ remains open in all directions.
“We consider this to be a major exploration breakthrough for the Gidgee project,” Gateway managing director Peter Langworthy says.
“The quality of these intersections in terms of grade and thickness provide a clear demonstration that we are working on a very significant gold system along the margin of the Montague granodiorite.
“This is an area with considerable scale potential over a strike length of up to 2km, which already includes the existing resources at Montague and Whistler.”
Ten-bagger MetalsTech (ASX:MTC) hit an incredible 90m-long mineralised zone grading 3.88g/t gold and 13.9g/t silver at the Sturec project in Slovakia.
This includes grades up to 89.1g/t.
The company says this intercept – announced on Monday — is not ‘true thickness’ because of the way the hole was drilled.
Still a good hit, especially if you take into account this was 150m away from the existing 1.1moz resource.
And Cuba-focussed explorer Antilles Gold (ASX:AAU) – formerly PanTerra — launched a new website, sending the stock up 20 per cent for some reason.
Stockhead updates our list of ASX gold stocks to be as accurate as possible for investors. If you spot companies that should be added (or removed) please let us know at: firstname.lastname@example.org