• 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.