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Gold Digger: The world’s top gold exec says bullion is enjoying ‘a new floor’ amidst inflation
Mining
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- Newmont’s Tom Palmer says gold may have found new floor of ~US$1600/oz in the wake of inflation
- With small gold miners are struggling with rising supply chain and labour costs, Palmer says consolidation in the sector makes sense
- Drilling results lead to bounce for struggling African and Indonesian gold stocks
The US CPI print of 8.6% last week played havoc with global markets, but rising uncertainly and the inflationary environment is providing a platform for gold to retain its value.
Australian mining executive Tom Palmer, the boss of the world’s largest gold miner Newmont, says the events of the last few years mean the floor for gold prices has lifted.
Where they may have once fallen to US$1200/oz, Palmer think they will remain above US$1500-1600/oz, prices at which the major producers with the scale to keep costs low should be making bank despite rising supply chain and labour costs.
“I see no reason why you wouldn’t, over the next year or two, see it around current levels, but more importantly sitting on top of a floor that has fundamentally moved given the events of the last couple of years,” he said in an interview with Bloomberg after delivering a keynote speech at the PDAC Convention in Toronto.
Gold gets the bulk of its value as a safe haven from inflation and tends to increase in value at times of geopolitical uncertainty.
That has come into stark focus twice over the past couple of years, as prices hit a record of US$2067/oz in August 2020 in the wake of the initial panic of the Covid-19 pandemic and swung close to that mark in March this year shortly after Russia invaded Ukraine and sparked Europe’s largest conflict in decades.
We’re yet to see gold hit levels of up to US$2500/oz some analysts projected in the wake of the Russian invasion, but at US$1,843.91/oz gold has largely held its value while equity markets and crypto have faltered in 2022.
Inflation a concern for smaller players
The impact of inflation on junior gold stocks has been felt clearly in recent weeks.
Advanced explorer Black Cat Syndicate (ASX:BC8) said last month it would withhold a decision on building a new gold mill near Kalgoorlie due to the current fiscal environment.
Troubled producer Dacian Gold (ASX:DCN) today lost almost 40% of its value after blaming the high inflationary environment for a decision to shelve the Jupiter open pit at its Mt Morgans gold mine in WA.
The company expects to have $17m in cash at June 30 and is largely debt free, but will stem losses and cut costs by trimming the fat, shifting its focus to exploration and generating income by processing stockpiles at the Laverton gold mine.
Palmer said in his keynote speech at PDAC this week that smaller players may need to consolidate and combine to thrive given current economic headwinds.
“There are only a few gold mining companies who have the capacity to deliver on all of these elements: size, scale, mine life and access to capital — clearly making the case for further partnerships and consolidation within the gold mining industry,” he told conference delegates.
Winners & Losers
Here’s how ASX-listed gold & silver stocks are performing:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop
> Stocks missing from this list? Email [email protected]
| Code | Company | Price | % Year | % Six Month | % Month | % Week | Market Cap |
|---|---|---|---|---|---|---|---|
| SIH | Sihayo Gold Limited | 0.0025 | -77% | -64% | -17% | 25% | $15,255,320.23 |
| TRM | Truscott Mining Corp | 0.055 | 120% | 72% | 2% | 15% | $8,356,784.92 |
| BMO | Bastion Minerals | 0.16 | -16% | -27% | -3% | 14% | $12,148,681.60 |
| SBR | Sabre Resources | 0.005 | 0% | 0% | 0% | 11% | $13,948,655.04 |
| DRE | Dreadnought Resources Ltd | 0.042 | 56% | 20% | 8% | 11% | $116,386,025.59 |
| HMG | Hamelingoldlimited | 0.12 | 0% | -17% | -14% | 9% | $12,650,000.00 |
| FAU | First Au Ltd | 0.013 | -13% | 30% | 0% | 8% | $9,826,931.39 |
| GAL | Galileo Mining Ltd | 1.65 | 489% | 686% | 93% | 8% | $286,093,216.00 |
| WGX | Westgold Resources. | 1.275 | -40% | -34% | -3% | 6% | $584,767,765.01 |
| GRL | Godolphin Resources | 0.105 | -34% | -22% | -16% | 6% | $7,739,501.56 |
| CST | Castile Resources | 0.18 | -16% | -10% | -5% | 6% | $35,947,821.78 |
| SMS | Starmineralslimited | 0.12 | 0% | -43% | -43% | 4% | $3,281,250.00 |
| NCM | Newcrest Mining | 24.64 | -10% | 8% | -1% | 4% | $21,345,645,603.30 |
| MRZ | Mont Royal Resources | 0.3 | 7% | -14% | -8% | 3% | $19,775,605.55 |
| NVA | Nova Minerals Ltd | 0.605 | -60% | -43% | -1% | 3% | $106,319,348.15 |
| EVN | Evolution Mining Ltd | 3.7 | -25% | -2% | 7% | 3% | $6,415,526,890.50 |
| ARV | Artemis Resources | 0.032 | -48% | -52% | -18% | 3% | $40,261,598.54 |
| BGD | Bartongoldholdings | 0.2 | 0% | 0% | 0% | 3% | $17,191,844.60 |
| GSN | Great Southern | 0.043 | -7% | -30% | 5% | 2% | $22,891,784.70 |
| SLR | Silver Lake Resource | 1.615 | -6% | 0% | 9% | 2% | $1,423,158,495.03 |
| RMS | Ramelius Resources | 1.195 | -33% | -20% | -4% | 2% | $988,819,024.26 |
| CMM | Capricorn Metals | 3.66 | 89% | 14% | 7% | 2% | $1,322,826,341.48 |
| PGO | Pacgold | 0.63 | 0% | 32% | 2% | 2% | $34,351,134.38 |
| SBM | St Barbara Limited | 1.1925 | -35% | -17% | 3% | 1% | $929,937,635.52 |
| AGC | AGC Ltd | 0.082 | -43% | -16% | -7% | 1% | $5,553,637.29 |
| AGC | AGC Ltd | 0.082 | -43% | -16% | -7% | 1% | $5,553,637.29 |
| ERM | Emmerson Resources | 0.095 | 42% | -30% | 2% | 1% | $53,381,559.22 |
| NST | Northern Star | 8.55 | -22% | -4% | -1% | 1% | $9,530,732,495.96 |
| NPM | Newpeak Metals | 0.001 | -50% | 0% | 0% | 0% | $8,853,750.03 |
| PNX | PNX Metals Limited | 0.005 | -43% | -14% | 0% | 0% | $19,998,260.13 |
| WCN | White Cliff Min Ltd | 0.018 | 29% | 13% | -10% | 0% | $11,764,860.52 |
| TRY | Troy Resources Ltd | 0.037 | -3% | 0% | 0% | 0% | $31,631,563.33 |
| KGM | Kalnorth Gold Ltd | 0.013 | 0% | 0% | 0% | 0% | $11,625,120.78 |
| CGN | Crater Gold Min Ltd | 0.017 | 0% | 0% | 0% | 0% | $21,063,473.65 |
| TSC | Twenty Seven Co. Ltd | 0.003 | -25% | -40% | -25% | 0% | $7,982,441.72 |
| AGS | Alliance Resources | 0.175 | 24% | 24% | 0% | 0% | $40,953,448.03 |
| VKA | Viking Mines Ltd | 0.007 | -74% | -59% | -22% | 0% | $7,176,809.02 |
| DDD | 3D Resources Limited | 0.003 | -40% | -14% | 0% | 0% | $12,545,616.28 |
| XTC | Xantippe Res Ltd | 0.009 | 350% | 80% | -10% | 0% | $69,237,512.09 |
| SVL | Silver Mines Limited | 0.18 | -39% | -10% | -3% | 0% | $226,070,625.03 |
| WWI | West Wits Mining Ltd | 0.024 | -72% | -27% | -4% | 0% | $44,213,579.06 |
| GMN | Gold Mountain Ltd | 0.006 | -81% | -57% | 0% | 0% | $7,158,895.02 |
| TBA | Tombola Gold Ltd | 0.051 | 19% | 70% | -12% | 0% | $48,717,733.37 |
| PF1 | Pathfinder Resources | 0.5 | 59% | 69% | 0% | 0% | $26,560,505.00 |
| FML | Focus Minerals Ltd | 0.18 | -36% | -33% | -5% | 0% | $48,714,969.65 |
| IDA | Indiana Resources | 0.052 | -30% | -16% | -5% | 0% | $22,859,762.69 |
| BAT | Battery Minerals Ltd | 0.005 | -74% | -64% | -44% | 0% | $15,760,172.03 |
| BGL | Bellevue Gold Ltd | 0.87 | 4% | 4% | 7% | 0% | $861,245,574.71 |
| ALY | Alchemy Resource Ltd | 0.019 | 39% | 73% | -5% | 0% | $15,249,184.91 |
| AVW | Avira Resources Ltd | 0.004 | -33% | -20% | -20% | 0% | $8,475,160.00 |
| PDI | Predictive Disc Ltd | 0.195 | 112% | -15% | -5% | 0% | $316,212,814.40 |
| CEL | Challenger Exp Ltd | 0.22 | -15% | -19% | -15% | 0% | $209,753,090.23 |
| MBK | Metal Bank Ltd | 0.005 | -42% | -23% | -17% | 0% | $13,039,090.80 |
| PUR | Pursuit Minerals | 0.019 | -75% | -37% | -5% | 0% | $18,491,834.28 |
| DLC | Delecta Limited | 0.011 | 57% | -8% | 0% | 0% | $13,253,995.76 |
| ANL | Amani Gold Ltd | 0.0015 | 50% | -25% | 50% | 0% | $23,293,441.13 |
| PNT | Panthermetalsltd | 0.19 | 0% | 0% | -16% | 0% | $5,510,000.00 |
| DGO | DGO Gold Limited | 2.85 | -12% | 7% | 7% | 0% | $230,704,999.25 |
| ALK | Alkane Resources Ltd | 0.935 | -12% | 20% | 2% | -1% | $533,047,160.90 |
| PRU | Perseus Mining Ltd | 1.8825 | 36% | 24% | 11% | -1% | $2,501,749,951.92 |
| RED | Red 5 Limited | 0.3425 | 90% | 29% | 4% | -1% | $777,599,015.16 |
| BRV | Big River Gold Ltd | 0.34 | -15% | 45% | 1% | -1% | $74,924,275.10 |
| MAU | Magnetic Resources | 1.3 | -14% | -14% | -8% | -1% | $293,889,092.89 |
| RRL | Regis Resources | 1.865 | -29% | 1% | 0% | -1% | $1,369,918,980.87 |
| WAF | West African Res Ltd | 1.3075 | 44% | 1% | 10% | -1% | $1,301,812,922.33 |
| BRB | Breaker Res NL | 0.2025 | 23% | -31% | -8% | -1% | $68,426,595.09 |
| CAZ | Cazaly Resources | 0.0365 | -34% | -15% | 1% | -1% | $13,349,584.55 |
| STN | Saturn Metals | 0.35 | -25% | -17% | -3% | -1% | $45,464,711.95 |
| GUL | Gullewa Limited | 0.067 | -12% | -13% | -9% | -1% | $12,981,410.80 |
| STK | Strickland Metals | 0.067 | 49% | 5% | -11% | -1% | $85,834,682.69 |
| MGV | Musgrave Minerals | 0.29 | -27% | -17% | 7% | -2% | $145,036,696.23 |
| KNB | Koonenberrygold | 0.09 | 0% | -50% | -9% | -2% | $6,728,317.92 |
| NAG | Nagambie Resources | 0.044 | -37% | -33% | -2% | -2% | $22,578,430.95 |
| GOR | Gold Road Res Ltd | 1.2525 | -15% | -15% | -1% | -3% | $1,082,546,608.33 |
| AME | Alto Metals Limited | 0.076 | -16% | -24% | -8% | -3% | $40,130,850.91 |
| SAU | Southern Gold | 0.038 | -49% | -30% | -12% | -3% | $7,893,163.97 |
| BMR | Ballymore Resources | 0.185 | 0% | -21% | -18% | -3% | $13,593,444.99 |
| X64 | Ten Sixty Four Ltd | 0.725 | -18% | 6% | 2% | -3% | $164,128,536.72 |
| AAU | Antilles Gold Ltd | 0.07 | 1% | 3% | 9% | -3% | $24,738,347.27 |
| TTM | Titan Minerals | 0.07 | -33% | -28% | 0% | -3% | $97,305,216.78 |
| EMR | Emerald Res NL | 1.195 | 24% | 13% | 12% | -3% | $705,255,282.62 |
| OZM | Ozaurum Resources | 0.17 | 21% | 31% | -23% | -3% | $10,584,960.00 |
| AAJ | Aruma Resources Ltd | 0.067 | 3% | -4% | -13% | -3% | $10,987,305.21 |
| BCN | Beacon Minerals | 0.029 | -17% | -9% | -12% | -3% | $109,238,245.83 |
| TMZ | Thomson Res Ltd | 0.026 | -81% | -57% | -7% | -4% | $17,591,672.80 |
| CDT | Castle Minerals | 0.026 | 86% | 4% | -32% | -4% | $24,987,324.60 |
| RSG | Resolute Mining | 0.26 | -53% | -27% | -12% | -4% | $292,541,852.80 |
| MTC | Metalstech Ltd | 0.365 | 81% | 28% | 7% | -4% | $63,332,544.20 |
| WRM | White Rock Min Ltd | 0.12 | -80% | -49% | 9% | -4% | $20,840,297.28 |
| SFM | Santa Fe Minerals | 0.096 | 8% | -17% | -9% | -4% | $7,281,878.90 |
| GBR | Greatbould Resources | 0.072 | -21% | -47% | -23% | -4% | $30,235,360.37 |
| VAN | Vango Mining Ltd | 0.048 | -30% | -19% | 9% | -4% | $52,917,380.54 |
| CBY | Canterbury Resources | 0.047 | -52% | -43% | -16% | -4% | $6,036,727.97 |
| ICL | Iceni Gold | 0.11 | -50% | -38% | -12% | -4% | $14,101,607.08 |
| PNM | Pacific Nickel Mines | 0.08 | 82% | -6% | 1% | -5% | $22,787,171.90 |
| FEG | Far East Gold | 0.3 | 0% | 0% | -23% | -5% | $38,441,721.15 |
| GMR | Golden Rim Resources | 0.058 | -57% | -42% | -11% | -5% | $19,462,630.55 |
| MKG | Mako Gold | 0.076 | -16% | -28% | -1% | -5% | $29,050,361.75 |
| YRL | Yandal Resources | 0.19 | -61% | -50% | -22% | -5% | $22,057,395.07 |
| SSR | SSR Mining Inc. | 27.07 | 20% | 19% | -3% | -5% | $507,408,029.55 |
| MKR | Manuka Resources. | 0.185 | -48% | -40% | -20% | -5% | $22,449,969.08 |
| OGC | OceanaGold Corp. | 3.08 | 14% | 35% | 3% | -5% | $216,554,575.16 |
| RND | Rand Mining Ltd | 1.41 | -2% | -3% | -9% | -5% | $80,195,105.01 |
| VRC | Volt Resources Ltd | 0.017 | -51% | -35% | -11% | -6% | $54,512,434.21 |
| AWJ | Auric Mining | 0.085 | -47% | -23% | 6% | -6% | $4,597,687.27 |
| CYL | Catalyst Metals | 1.45 | -25% | -30% | -8% | -6% | $145,715,099.04 |
| AGG | AngloGold Ashanti | 4.57 | -16% | -13% | -9% | -6% | $404,557,214.28 |
| IVR | Investigator Res Ltd | 0.047 | -52% | -27% | -6% | -6% | $65,283,369.19 |
| CY5 | Cygnus Gold Limited | 0.155 | 15% | -9% | 7% | -6% | $18,287,723.83 |
| TBR | Tribune Res Ltd | 3.73 | -25% | -22% | -10% | -6% | $195,705,927.21 |
| OKU | Oklo Resources Ltd | 0.145 | 21% | 16% | 61% | -6% | $75,674,471.85 |
| ZAG | Zuleika Gold Ltd | 0.029 | -19% | 61% | -3% | -6% | $15,124,968.13 |
| AMI | Aurelia Metals Ltd | 0.285 | -28% | -32% | -17% | -7% | $358,746,372.53 |
| GED | Golden Deeps | 0.014 | 8% | 27% | -7% | -7% | $17,328,400.71 |
| CPM | Coopermetalslimited | 0.415 | 0% | 144% | 4% | -7% | $10,402,700.00 |
| DEG | De Grey Mining | 0.955 | -28% | -12% | -7% | -7% | $1,331,357,131.13 |
| BNR | Bulletin Res Ltd | 0.135 | 97% | 93% | -21% | -7% | $39,162,298.50 |
| TAM | Tanami Gold NL | 0.05 | -29% | -19% | -4% | -7% | $55,229,561.16 |
| DCX | Discovex Res Ltd | 0.006 | 0% | 33% | -14% | -8% | $12,843,320.38 |
| G50 | Gold50Limited | 0.18 | 0% | -31% | -10% | -8% | $10,083,240.18 |
| RDS | Redstone Resources | 0.006 | -60% | -54% | -25% | -8% | $4,420,994.38 |
| XAM | Xanadu Mines Ltd | 0.024 | -40% | -17% | -8% | -8% | $32,481,984.95 |
| TIE | Tietto Minerals | 0.35 | 6% | -17% | -16% | -8% | $340,627,187.42 |
| NXM | Nexus Minerals Ltd | 0.225 | 181% | -60% | -32% | -8% | $70,970,505.10 |
| ANX | Anax Metals Ltd | 0.089 | 11% | 3% | 1% | -8% | $37,723,418.88 |
| ASR | Asra Minerals Ltd | 0.033 | 6% | 65% | 14% | -8% | $44,219,202.06 |
| HRN | Horizon Gold Ltd | 0.33 | -26% | -11% | -6% | -8% | $40,822,662.87 |
| EMU | EMU NL | 0.011 | -59% | -45% | -35% | -8% | $6,597,773.81 |
| KAU | Kaiser Reef | 0.165 | -41% | -8% | -6% | -8% | $22,010,021.38 |
| HAV | Havilah Resources | 0.275 | 12% | 67% | 62% | -8% | $86,745,891.96 |
| MZZ | Matador Mining Ltd | 0.16 | -66% | -52% | -27% | -9% | $34,803,120.80 |
| DEX | Duke Exploration | 0.085 | -79% | -47% | -26% | -9% | $8,119,003.68 |
| KAL | Kalgoorliegoldmining | 0.1 | 0% | -29% | -17% | -9% | $7,605,633.00 |
| LCY | Legacy Iron Ore | 0.02 | 33% | -9% | -9% | -9% | $121,729,697.78 |
| GML | Gateway Mining | 0.01 | -52% | -38% | 0% | -9% | $20,340,957.30 |
| DTR | Dateline Resources | 0.1 | 2% | 28% | 2% | -9% | $43,419,919.20 |
| GMD | Genesis Minerals | 1.37 | 79% | -14% | 1% | -9% | $349,335,552.86 |
| SNG | Siren Gold | 0.29 | 4% | 0% | -19% | -9% | $24,487,577.67 |
| CAI | Calidus Resources | 0.675 | 41% | 14% | -17% | -9% | $270,159,850.86 |
| VMC | Venus Metals Cor Ltd | 0.1675 | -14% | 2% | -9% | -9% | $22,661,802.45 |
| HAW | Hawthorn Resources | 0.095 | 94% | 16% | -17% | -10% | $31,683,983.24 |
| KRM | Kingsrose Mining Ltd | 0.057 | -3% | -28% | -8% | -10% | $45,151,591.14 |
| GCY | Gascoyne Res Ltd | 0.235 | -35% | -19% | -2% | -10% | $106,481,012.50 |
| GCY | Gascoyne Res Ltd | 0.235 | -35% | -19% | -2% | -10% | $106,481,012.50 |
| MRR | Minrex Resources Ltd | 0.037 | 76% | 6% | -29% | -10% | $39,339,904.85 |
| HMX | Hammer Metals Ltd | 0.054 | -49% | 15% | -14% | -10% | $40,769,731.15 |
| RDN | Raiden Resources Ltd | 0.009 | -68% | -55% | -18% | -10% | $12,756,979.19 |
| TCG | Turaco Gold Limited | 0.072 | -40% | -40% | -20% | -10% | $27,801,583.49 |
| CXU | Cauldron Energy Ltd | 0.009 | -76% | -64% | -36% | -10% | $5,086,407.13 |
| OAU | Ora Gold Limited | 0.009 | -57% | -36% | -31% | -10% | $8,842,010.12 |
| MEU | Marmota Limited | 0.06 | 40% | 40% | 20% | -10% | $61,745,122.91 |
| IGO | IGO Limited | 10.475 | 47% | -3% | -1% | -10% | $8,322,373,264.87 |
| KZR | Kalamazoo Resources | 0.255 | -39% | -34% | -26% | -11% | $35,572,621.63 |
| BYH | Bryah Resources Ltd | 0.034 | -51% | -36% | -29% | -11% | $8,143,458.30 |
| NSM | Northstaw | 0.17 | -43% | -41% | -29% | -11% | $6,821,590.00 |
| CWX | Carawine Resources | 0.125 | -47% | -32% | -11% | -11% | $17,229,293.38 |
| BC8 | Black Cat Syndicate | 0.3525 | -47% | -30% | -22% | -11% | $75,840,132.13 |
| DTM | Dart Mining NL | 0.058 | -59% | -29% | -3% | -11% | $7,845,089.28 |
| AUC | Ausgold Limited | 0.049 | 4% | 4% | -13% | -11% | $97,414,777.97 |
| IPT | Impact Minerals | 0.008 | -45% | -39% | -24% | -11% | $19,850,964.45 |
| ADV | Ardiden Ltd | 0.008 | -11% | -20% | -38% | -11% | $21,346,682.85 |
| AL8 | Alderan Resource Ltd | 0.016 | -69% | -54% | -16% | -11% | $5,957,925.12 |
| GNM | Great Northern | 0.004 | -67% | -43% | -27% | -11% | $6,836,203.90 |
| KTA | Krakatoa Resources | 0.054 | 0% | 15% | -34% | -11% | $18,959,045.44 |
| REZ | Resourc & En Grp Ltd | 0.023 | -32% | -60% | -44% | -12% | $11,495,533.15 |
| PRX | Prodigy Gold NL | 0.015 | -67% | -55% | -21% | -12% | $8,156,786.48 |
| CDR | Codrus Minerals Ltd | 0.075 | 0% | -46% | -19% | -12% | $3,000,000.00 |
| PKO | Peako Limited | 0.015 | -61% | -29% | -21% | -12% | $4,935,265.62 |
| TAR | Taruga Minerals | 0.022 | -62% | -42% | 22% | -12% | $13,873,157.76 |
| AAR | Astral Resources NL | 0.073 | -12% | -17% | -12% | -12% | $45,905,801.40 |
| LM8 | Lunnonmetalslimited | 0.725 | 71% | 86% | -21% | -12% | $82,407,095.25 |
| GWR | GWR Group Ltd | 0.092 | -65% | -23% | -26% | -12% | $29,551,932.26 |
| BBX | BBX Minerals Ltd | 0.105 | -58% | -32% | 6% | -13% | $50,602,362.25 |
| SI6 | SI6 Metals Limited | 0.007 | -36% | -22% | -22% | -13% | $9,997,007.90 |
| OBM | Ora Banda Mining Ltd | 0.028 | -81% | -51% | -15% | -13% | $35,723,669.88 |
| AQI | Alicanto Min Ltd | 0.056 | -55% | -53% | -33% | -13% | $22,255,389.79 |
| NES | Nelson Resources. | 0.014 | -73% | -52% | -26% | -13% | $4,414,457.46 |
| TUL | Tulla Resources | 0.51 | -2% | 2% | -11% | -13% | $77,705,182.92 |
| RXL | Rox Resources | 0.27 | -38% | -23% | -17% | -13% | $47,303,465.16 |
| ENR | Encounter Resources | 0.135 | -15% | -16% | -4% | -13% | $42,824,271.51 |
| GSR | Greenstone Resources | 0.047 | 124% | 62% | 9% | -13% | $49,197,777.07 |
| RVR | Red River Resources | 0.15 | -27% | -17% | -21% | -13% | $82,954,318.08 |
| SFR | Sandfire Resources | 4.93 | -24% | -21% | 0% | -13% | $2,095,007,473.23 |
| LEX | Lefroy Exploration | 0.26 | -78% | -13% | -13% | -13% | $39,386,160.36 |
| AZS | Azure Minerals | 0.26 | -2% | -24% | 4% | -13% | $83,898,644.67 |
| KCN | Kingsgate Consolid. | 1.315 | 48% | -28% | -4% | -13% | $309,848,634.20 |
| NMR | Native Mineral Res | 0.16 | -39% | -40% | -16% | -14% | $7,060,550.40 |
| NML | Navarre Minerals Ltd | 0.051 | -49% | -29% | -34% | -14% | $77,374,114.49 |
| ADN | Andromeda Metals Ltd | 0.07 | -70% | -59% | -28% | -14% | $220,649,192.03 |
| QML | Qmines Limited | 0.19 | -46% | -43% | -24% | -14% | $12,971,727.41 |
| GIB | Gibb River Diamonds | 0.043 | -43% | -46% | -30% | -14% | $9,517,925.03 |
| MAT | Matsa Resources | 0.043 | -44% | -26% | -25% | -14% | $17,588,776.38 |
| MEI | Meteoric Resources | 0.012 | -77% | -25% | -8% | -14% | $19,841,865.82 |
| MHC | Manhattan Corp Ltd | 0.009 | -25% | -31% | -25% | -14% | $13,736,508.24 |
| FFX | Firefinch Ltd | 0.235 | -53% | -67% | -73% | -15% | $271,685,940.83 |
| MLS | Metals Australia | 0.051 | 28% | 70% | -44% | -15% | $27,457,881.93 |
| FG1 | Flynngold | 0.11 | -45% | -35% | -19% | -15% | $7,046,715.50 |
| MM8 | Medallion Metals. | 0.245 | -18% | 14% | 2% | -16% | $27,570,310.56 |
| CHZ | Chesser Resources | 0.08 | -47% | -27% | -18% | -16% | $48,814,218.13 |
| SPQ | Superior Resources | 0.032 | 146% | 33% | -11% | -16% | $57,841,494.21 |
| HRZ | Horizon | 0.105 | -19% | -9% | 0% | -16% | $56,797,520.00 |
| LRL | Labyrinth Resources | 0.021 | -56% | -38% | -30% | -16% | $18,340,701.86 |
| HCH | Hot Chili Ltd | 0.935 | -51% | -47% | -20% | -16% | $103,828,513.60 |
| SKY | SKY Metals Ltd | 0.072 | -42% | -27% | -15% | -16% | $27,128,409.84 |
| PUA | Peak Minerals Ltd | 0.01 | -41% | -20% | -23% | -17% | $11,455,078.26 |
| MVL | Marvel Gold Limited | 0.03 | -45% | -53% | -29% | -17% | $22,538,219.84 |
| AWV | Anova Metals Ltd | 0.01 | -55% | -44% | -23% | -17% | $15,729,989.10 |
| CTO | Citigold Corp Ltd | 0.005 | -55% | -44% | -17% | -17% | $14,168,295.46 |
| S2R | S2 Resources | 0.15 | 7% | -12% | 0% | -17% | $55,238,102.53 |
| GBZ | GBM Rsources Ltd | 0.074 | -43% | -36% | -19% | -17% | $41,311,348.81 |
| TSO | Tesoro Gold Ltd | 0.054 | -63% | -29% | -16% | -17% | $37,432,403.46 |
| ARN | Aldoro Resources | 0.145 | -55% | -62% | -34% | -17% | $15,378,106.30 |
| AXE | Archer Materials | 0.58 | -24% | -48% | -15% | -18% | $150,322,660.24 |
| M2R | Miramar | 0.082 | -57% | -63% | -34% | -18% | $6,354,479.64 |
| AUT | Auteco Minerals | 0.041 | -56% | -42% | -24% | -18% | $90,961,295.39 |
| ICG | Inca Minerals Ltd | 0.086 | -25% | -14% | 0% | -18% | $40,932,593.80 |
| PRS | Prospech Limited | 0.036 | -76% | -43% | -29% | -18% | $2,346,516.18 |
| G88 | Golden Mile Res Ltd | 0.04 | -31% | -20% | -27% | -18% | $8,149,304.56 |
| AM7 | Arcadia Minerals | 0.175 | 0% | -20% | -17% | -19% | $6,473,612.50 |
| MDI | Middle Island Res | 0.13 | 8% | 30% | -10% | -19% | $16,526,459.97 |
| LCL | Los Cerros Limited | 0.043 | -75% | -61% | -37% | -19% | $28,628,549.62 |
| ADT | Adriatic Metals | 1.9 | -30% | -20% | -13% | -19% | $423,308,175.85 |
| BNZ | Benzmining | 0.5 | -42% | -23% | -17% | -19% | $26,213,416.50 |
| TG1 | Techgen Metals Ltd | 0.125 | -42% | -22% | -4% | -19% | $5,747,094.08 |
| RGL | Riversgold | 0.029 | -27% | 78% | -29% | -19% | $21,178,527.97 |
| BTR | Brightstar Resources | 0.0185 | -44% | -60% | -20% | -20% | $12,290,356.51 |
| AQX | Alice Queen Ltd | 0.004 | -73% | -60% | -20% | -20% | $7,647,816.04 |
| TMX | Terrain Minerals | 0.008 | -27% | 14% | -11% | -20% | $6,086,088.07 |
| LNY | Laneway Res Ltd | 0.004 | -7% | -30% | -20% | -20% | $25,208,065.64 |
| CLA | Celsius Resource Ltd | 0.016 | -53% | -6% | -20% | -20% | $23,207,849.59 |
| TLM | Talisman Mining | 0.135 | -33% | -14% | -10% | -21% | $27,222,227.07 |
| MEK | Meeka Gold Limited | 0.05 | -23% | 16% | 19% | -21% | $49,700,804.31 |
| RDT | Red Dirt Metals Ltd | 0.365 | 135% | -39% | -16% | -21% | $115,730,681.88 |
| PGD | Peregrine Gold | 0.345 | -10% | -22% | -22% | -21% | $14,548,934.22 |
| THR | Thor Mining PLC | 0.0095 | -50% | -32% | -24% | -21% | $10,673,009.73 |
| KAI | Kairos Minerals Ltd | 0.019 | -46% | -27% | -27% | -21% | $37,279,776.33 |
| ARL | Ardea Resources Ltd | 0.87 | 64% | 81% | -17% | -21% | $153,612,683.66 |
| GTR | Gti Energy Ltd | 0.015 | -30% | -40% | -6% | -21% | $23,133,495.47 |
| MEG | Megado | 0.082 | -32% | -11% | -34% | -22% | $5,990,001.44 |
| MCT | Metalicity Limited | 0.0035 | -70% | -64% | -30% | -22% | $12,104,376.75 |
| RML | Resolution Minerals | 0.007 | -72% | -56% | -50% | -22% | $5,769,982.73 |
| E2M | E2 Metals | 0.135 | -54% | -52% | -21% | -23% | $27,878,525.22 |
| MTH | Mithril Resources | 0.005 | -72% | -69% | -17% | -23% | $14,601,165.21 |
| ASO | Aston Minerals Ltd | 0.092 | -49% | -20% | -32% | -23% | $103,983,714.71 |
| CHN | Chalice Mining Ltd | 3.94 | -48% | -53% | -28% | -25% | $1,498,112,768.23 |
| ZNC | Zenith Minerals Ltd | 0.29 | 21% | 38% | -21% | -25% | $116,927,412.70 |
| MOH | Moho Resources | 0.027 | -61% | -53% | -31% | -25% | $5,109,147.62 |
| SVY | Stavely Minerals Ltd | 0.27 | -47% | -46% | -28% | -25% | $73,069,206.56 |
| NWM | Norwest Minerals | 0.03 | -64% | -57% | -29% | -25% | $6,321,258.55 |
| POL | Polymetals Resources | 0.09 | 0% | -44% | -14% | -25% | $3,605,090.94 |
| BEZ | Besragoldinc | 0.05 | 0% | -55% | 25% | -25% | $9,451,747.80 |
| KSN | Kingston Resources | 0.093 | -57% | -44% | -28% | -26% | $40,038,635.58 |
| A1G | African Gold Ltd. | 0.089 | -61% | -53% | -32% | -26% | $10,508,108.86 |
| SRN | Surefire Rescs NL | 0.02 | 18% | 82% | -26% | -26% | $31,728,534.44 |
| HXG | Hexagon Energy | 0.02 | -76% | -72% | -26% | -26% | $12,309,981.62 |
| MI6 | Minerals260Limited | 0.3 | 0% | -42% | -26% | -26% | $66,000,000.00 |
| AVM | Advance Metals Ltd | 0.008 | -50% | -53% | -33% | -27% | $4,778,774.02 |
| RMX | Red Mount Min Ltd | 0.005 | -55% | -44% | -38% | -29% | $9,854,183.15 |
| MXR | Maximus Resources | 0.045 | -38% | -36% | -38% | -29% | $15,259,476.86 |
| EM2 | Eagle Mountain | 0.285 | -71% | -44% | -25% | -29% | $79,092,468.59 |
| GSM | Golden State Mining | 0.042 | -76% | -52% | -35% | -29% | $5,238,959.36 |
| LYN | Lycaonresources | 0.32 | 0% | -9% | -21% | -29% | $10,852,375.00 |
| SMI | Santana Minerals Ltd | 0.58 | 427% | 87% | -30% | -29% | $88,866,982.96 |
| PNR | Pantoro Limited | 0.21 | -7% | -37% | -24% | -30% | $322,879,456.09 |
| M24 | Mamba Exploration | 0.07 | -68% | -63% | -46% | -30% | $3,374,000.24 |
| WMC | Wiluna Mining Corp | 0.335 | -59% | -61% | -31% | -31% | $101,961,574.11 |
| KCC | Kincora Copper | 0.065 | -80% | -48% | -19% | -31% | $5,127,158.33 |
| SLZ | Sultan Resources Ltd | 0.1 | -57% | -39% | -29% | -31% | $8,744,860.85 |
| OKR | Okapi Resources | 0.2 | 0% | -44% | -20% | -31% | $24,013,530.47 |
| NAE | New Age Exploration | 0.006 | -54% | -40% | -48% | -33% | $10,051,292.37 |
| A8G | Australasian Metals | 0.2 | 18% | -60% | -44% | -33% | $8,645,803.74 |
| AYM | Australia United Min | 0.004 | -43% | -43% | -50% | -33% | $7,370,309.94 |
| DCN | Dacian Gold Ltd | 0.105 | -63% | -34% | -43% | -42% | $184,463,100.71 |
| KWR | Kingwest Resources | 0.065 | -24% | -66% | -50% | -48% | $22,353,518.30 |
SMALL CAP STANDOUTS
TURACO GOLD (ASX:TCG)
This hard drilling Cote d’Ivoire gold explorer is run by Justin Tremain, who led Exore Resources ahead of its ~$80m takeover by Perseus Mining (ASX:PRU).
He also headed Renaissance Minerals before its takeover by Asian gold producer Emerald Resources (ASX:EMR).
Today, new step out drilling results announced from ‘Nyangboue’ — part of the Boundiali project (89% owned) — included a highlight 4m @ 8.34g/t gold from 21m.
This thing is open all over the joint, TCG says, with aircore drilling also hitting a new subparallel, 400m long shallow zone of gold mineralisation immediately north of the prospect.
“These latest results demonstrate the potential to continue to extend mineralisation defined at the Nyangboue prospect, along strike, at depth and from new gold zones at surface,” Tremain says.
Assay results are pending for over 7,000 drill samples across the ‘Eburnea’ and ‘Tongon North’ projects, where drilling is ongoing.
The $30m market cap stock is down 37% in 2022. It remains well funded with ~$10m in the bank at the end of May.
SIHAYO GOLD (ASX:SIH)
ASX microcap Sihayo owns the Sihayo gold project in Indonesia, where it already has a feasibility study prepared despite its minnow status and a strategic review process in train with CLSA looking for a potential funding partner for the proposed mine.
At US$1700/oz gold prices, Sihayo would deliver 551,000oz over its 6.5 year life, but with a capital cost of US$173 million and IRR of just 10.1% some more exploration may be prudent.
Recent announcements have focused on drilling at the Sihorbo South project, where results this week caught the attention of investors.
The first phase of drilling has been completed at Sihorbo South, with a total of 5,215m in 30 diamond drill holes completed since September. Drilling results include: 3m @ 25.15 AuEq with 24.88g/t Au, and 20g/t Ag from 112m, and 7m @ 1.18g/t AuEq with 0.9g/t Au, and 21g/t Ag from 129m.
That has seen Sihayo rise 25% this week off a low base after a very ordinary start to 2022.
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