Gold stocks are cheap, experts keep saying.

Well-known analyst Jesse Felder has now demonstrated the “pathetic performance” of the US gold majors in handy chart form.

The US listed BANG stocks (Felder’s play on FANG) include gold giants Barrick, Agnico Eagle and Newmont/Goldcorp.

Below is the relative performance of the BANG stocks along with the gold price:

Weak.

“With the l [gold price] soaring over the past five years, you would think that [BANG stocks] would be outperforming — and yet the miners’ performance has been absolutely pathetic compared to the S&P 500,” Felder says.

This is due in part to the outperformance of the wider stock market, led by FANG stocks like Facebook and Google. That gap could be closed if we enter another equity bear market.

But Felder also believes, like many others, that the gold price is just taking a breather:

“If you believe, as I do, that gold prices are only in the middle of a new longer-term bull market (as the history of prior bull markets for the precious metal would suggest) then gold miner shares are just far too cheap at today’s prices,” Felder says.

 

Gold price steady at ~US$1790/oz

The gold price continues to trade in a holding patten. It has barely moved over the past 6 months, gaining just 0.26%.

Despite a late week run, the price has dropped marginally over the past 7 days, from $US1795.48/oz to $US1786.5/oz.

This week 121 (46.5%) ASX gold stocks on our list went up, 87 (33.5%) went down, and 52 (20%) didn’t move.

A key catalyst for gold could come from the bond market. If inflation expectations rise faster than bond yields, that historically has been a reliable driver for rising gold prices.

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:

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 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % SHARE PRICE [INTRADAY FRIDAY] MARKET CAP
NPM Newpeak Metals 100 33 0 -33 0.002 $ 13,654,870.31
PNM Pacific Nickel Mines 54 87 178 108 0.125 $ 27,936,354.68
AZL Arizona Lithium 49 87 78 508 0.073 $ 115,258,853.40
A8G Australasian Gold 35 109 0.72 $ 28,594,460.62
XTC Xantippe Resources 33 100 100 33 0.004 $ 15,279,616.51
AOP Apollo Consolidated 30 62 84 57 0.59 $ 172,056,148.10
SNG Siren Gold 25 61 10 -21 0.395 $ 27,859,120.14
BNR Bulletin Resources 25 14 22 11 0.08 $ 19,840,375.85
PF1 Pathfinder Resources 24 0 44 0.36 $ 17,962,646.40
PUA Peak Minerals 24 24 -9 -38 0.021 $ 12,828,647.74
RDS Redstone Resources 18 8 8 -7 0.013 $ 9,346,987.82
HRN Horizon Gold 18 23 5 0 0.43 $ 45,877,566.88
FFR Firefly Resources 17 -4 0 -26 0.11 $ 33,917,348.30
ADN Andromeda Metals 17 50 -22 62 0.21 $ 529,233,689.89
AWJ Auric Mining 17 0 -22 0.14 $ 7,765,709.98
ANX Anax Metals 16 15 45 350 0.11 $ 35,018,389.00
WRM White Rock Minerals 15 27 -38 -35 0.35 $ 49,863,020.20
AGS Alliance Resources 15 30 15 -21 0.195 $ 39,523,255.46
HCH Hot Chili 14 26 17 12 0.048 $ 205,435,708.63
TRM Truscott Mining Corp 14 0 57 65 0.033 $ 5,014,070.95
BRB Breaker Res NL 14 25 38 53 0.33 $ 110,785,915.86
AWV Anova Metals 14 19 9 -17 0.025 $ 32,961,166.60
CST Castile Resources 13 19 9 -43 0.255 $ 51,924,631.46
DTM Dart Mining NL 13 18 0 -28 0.13 $ 12,493,184.50
SAU Southern Gold 13 11 -23 -41 0.071 $ 14,506,355.41
TMX Terrain Minerals 13 13 -18 -31 0.009 $ 6,621,849.08
CY5 Cygnus Gold Limited 13 8 -16 -29 0.135 $ 14,636,713.23
AMI Aurelia Metals 13 21 -15 -26 0.3825 $ 475,404,494.18
HRZ Horizon 13 23 13 17 0.135 $ 73,836,776.00
ARL Ardea Resources 12 20 5 10 0.55 $ 73,848,307.17
WCN White Cliff Min 12 8 -30 -42 0.014 $ 7,757,945.99
NAG Nagambie Resources 12 -1 -4 34 0.075 $ 37,494,925.95
AZS Azure Minerals 12 17 15 -14 0.38 $ 117,699,573.98
SMI Santana Minerals 12 109 85 14 0.24 $ 28,508,159.00
MKR Manuka Resources. 11 32 -6 -23 0.395 $ 40,088,969.89
EMU EMU NL 11 3 -35 -42 0.03 $ 13,995,434.52
SKY SKY Metals 11 9 -38 -52 0.1 $ 32,644,617.08
MCT Metalicity Limited 11 11 -29 -52 0.01 $ 21,437,715.32
IDA Indiana Resources 11 3 -24 3 0.061 $ 26,066,817.60
IVR Investigator Res 11 22 -14 36 0.072 $ 96,648,102.31
TSO Tesoro Resources 11 7 -40 -74 0.105 $ 50,100,686.90
VKA Viking Mines 11 31 -43 15 0.021 $ 21,446,427.05
ALY Alchemy Resource 10 2 -16 -43 0.014 $ 11,764,260.41
AAJ Aruma Resources 10 -7 26 -22 0.088 $ 10,832,689.26
MAU Magnetic Resources 10 3 3 30 1.65 $ 349,077,584.00
AYM Australia United Min 10 22 10 -42 0.011 $ 20,268,352.34
CTO Citigold Corp 10 10 -15 -31 0.011 $ 31,170,250.00
AM7 Arcadia Minerals 10 -15 0.22 $ 7,524,000.00
TRN Torrens Mining 10 10 21 0.17 $ 11,843,039.46
FML Focus Minerals 10 16 -8 -28 0.285 $ 51,169,598.20
PRS Prospech Limited 9 -10 -37 0 0.0755 $ 4,888,575.38
AUC Ausgold Limited 9 27 -6 -16 0.047 $ 71,340,729.35
BTR Brightstar Resources 9 71 37 71 0.048 $ 25,807,734.30
TTM Titan Minerals 9 4 20 -14 0.12 $ 173,914,187.25
G88 Golden Mile Res 8 8 -45 -21 0.052 $ 8,892,953.06
GMR Golden Rim Resources 8 8 -41 -64 0.0065 $ 19,772,098.07
ZNC Zenith Minerals 8 24 18 73 0.26 $ 84,008,275.78
BDC Bardoc Gold 8 12 -8 -14 0.066 $ 114,526,986.82
M24 Mamba Exploration 8 5 -22 0.2 $ 7,400,000.00
VAN Vango Mining 8 3 -13 -31 0.068 $ 70,346,777.66
KSN Kingston Resources 8 8 -5 -25 0.21 $ 60,092,456.97
BAR Barra Resources 8 12 40 -26 0.028 $ 21,360,712.85
DLC Delecta Limited 8 0 100 133 0.014 $ 16,702,471.87
CLA Celsius Resource 7 26 -31 -12 0.029 $ 30,369,614.35
LEX Lefroy Exploration 7 12 -66 78 0.435 $ 52,898,853.48
MM8 Medallion Metals. 7 0 -17 0.22 $ 17,408,568.49
BAT Battery Minerals 7 7 -17 -50 0.015 $ 29,444,835.46
DCN Dacian Gold 7 21 -41 -43 0.235 $ 227,346,050.94
KZR Kalamazoo Resources 7 19 -8 -38 0.4 $ 54,408,280.77
QML Qmines Limited 7 23 0.4 $ 21,078,175.20
KNB Koonenberrygold 6 0.165 $ 12,135,480.72
NSM Northstaw 6 10 -12 -31 0.33 $ 13,241,910.00
OKR Okapi Resources 6 6 225 216 0.585 $ 58,246,433.82
CDT Castle Minerals 6 31 42 42 0.017 $ 14,608,859.07
RND Rand Mining 6 3 -2 -33 1.57 $ 91,570,297.21
ONX Orminex 6 -19 -38 30 0.035 $ 18,628,413.82
MRR Minrex Resources 6 13 -22 -36 0.018 $ 10,518,966.99
THR Thor Mining PLC 6 6 36 -21 0.019 $ 11,848,635.32
DRE Drednought Resources 5 5 105 34 0.039 $ 110,442,622.76
TBA Tombola Gold 5 8 -18 -9 0.042 $ 27,274,718.50
MDI Middle Island Res 5 12 -25 -75 0.105 $ 13,466,004.42
CYL Catalyst Metals 5 12 -7 -19 2.1 $ 206,421,018.30
HXG Hexagon Energy 5 13 -14 67 0.085 $ 37,465,161.47
AL8 Alderan Resource 5 -12 -38 -63 0.043 $ 18,299,341.44
A1G African Gold . 5 -12 -8 80 0.22 $ 19,405,647.24
GTR Gti Resources 5 -9 77 62 0.0345 $ 31,042,296.11
BRV Big River Gold 4 -19 -43 -51 0.235 $ 48,277,339.44
G50 Gold50Limited 4 4 0.24 $ 12,076,320.24
MGV Musgrave Minerals 4 41 4 -30 0.38 $ 206,253,335.37
OKU Oklo Resources 4 8 -9 -55 0.13 $ 65,523,875.56
BYH Bryah Resources 4 -4 -24 -13 0.053 $ 12,555,601.80
KRM Kingsrose Mining 4 23 -2 56 0.053 $ 37,230,374.95
ASO Aston Minerals 4 13 17 200 0.135 $ 133,587,640.06
MZZ Matador Mining 4 14 28 0 0.415 $ 87,786,738.77
CDR Codrus Minerals 4 -7 0.14 $ 6,000,000.00
XAM Xanadu Mines 4 -6 -60 -34 0.029 $ 37,771,132.50
TLM Talisman Mining 4 7 0 21 0.145 $ 27,181,949.26
KCC Kincora Copper 3 -6 -50 0.15 $ 11,516,229.60
MOH Moho Resources 3 3 -18 -45 0.063 $ 6,506,350.33
VRC Volt Resources 3 3 52 167 0.032 $ 79,433,314.65
OZM Ozaurum Resources 3 7 -9 0.16 $ 8,582,400.00
ARV Artemis Resources 3 28 12 -33 0.1 $ 125,499,765.10
PRX Prodigy Gold NL 3 -13 -24 -28 0.034 $ 20,391,966.21
VMC Venus Metals Cor 3 3 -11 -36 0.17 $ 27,949,556.36
BNZ Benzmining 3 1 -7 0.725 $ 36,722,086.56
GBR Greatbould Resources 3 29 441 168 0.2 $ 67,874,803.71
ARN Aldoro Resources 3 -12 11 327 0.41 $ 37,133,707.38
AAR Anglo Australian 3 -4 -25 -52 0.082 $ 48,886,697.60
NES Nelson Resources. 2 -2 -49 -43 0.043 $ 8,354,564.39
CAZ Cazaly Resources 2 12 4 2 0.047 $ 17,369,473.55
GBZ GBM Rsources 2 31 15 -29 0.1375 $ 70,953,302.98
MVL Marvel Gold Limited 2 7 33 -19 0.064 $ 38,209,565.33
NCM Newcrest Mining 1 7 -10 -21 25.085 $ 20,383,517,621.32
STN Saturn Metals 1 18 4 -43 0.425 $ 47,579,630.48
DTR Dateline Resources 1 2 -10 44 0.09 $ 40,727,653.22
YRL Yandal Resources 1 -10 0 -27 0.455 $ 45,700,178.62
ADT Adriatic Metals 1 -1 26 35 2.81 $ 518,987,577.28
AME Alto Metals Limited 1 28 2 0 0.1 $ 47,277,272.28
WMC Wiluna Mining Corp 1 4 5 -42 1.04 $ 164,639,575.36
CHN Chalice Mining 1 -4 10 114 6.75 $ 2,407,038,387.60
MML Medusa Mining 1 -2 -9 -12 0.755 $ 155,904,975.75
EMR Emerald Res NL 0 19 17 62 1.02 $ 520,551,179.07
SBR Sabre Resources 0 0 -17 -44 0.005 $ 8,446,568.25
PUR Pursuit Minerals 0 -30 -55 192 0.035 $ 30,921,459.23
REZ Resourc & En Grp 0 9 24 -47 0.047 $ 21,152,358.66
DCX Discovex Res 0 11 -29 -17 0.005 $ 12,843,320.38
SIH Sihayo Gold Limited 0 0 -29 -60 0.01 $ 36,854,614.13
TMZ Thomson Res 0 -14 -23 6 0.085 $ 44,961,200.49
CWX Carawine Resources 0 8 -20 -44 0.2 $ 23,411,328.93
ENR Encounter Resources 0 0 38 7 0.22 $ 71,270,217.68
BBX BBX Minerals 0 -3 -21 -55 0.19 $ 87,024,080.25
GMN Gold Mountain 0 5 -49 -49 0.02 $ 21,402,983.40
AQX Alice Queen 0 -9 -50 -69 0.01 $ 13,702,230.10
GED Golden Deeps 0 0 0 -20 0.012 $ 9,310,217.28
NAE New Age Exploration 0 0 -45 -39 0.011 $ 15,794,888.01
GUL Gullewa Limited 0 -11 -9 -30 0.081 $ 15,420,221.10
LM8 Lunnonmetalslimited 0 -21 0.4 $ 32,172,065.52
PGD Peregrine Gold 0 11 48 0.4 $ 15,119,457.75
AVW Avira Resources 0 0 -14 -33 0.006 $ 10,312,740.00
TSC Twenty Seven Co. 0 20 0 -25 0.006 $ 13,304,069.53
LCY Legacy Iron Ore 0 0 -29 88 0.015 $ 96,071,077.76
TAM Tanami Gold NL 0 0 -3 -4 0.072 $ 85,782,084.36
KAI Kairos Minerals 0 0 -3 -56 0.03 $ 51,972,639.28
RML Resolution Minerals 0 11 -28 -53 0.021 $ 11,174,054.58
RVR Red River Resources 0 34 0 8 0.215 $ 114,062,187.36
AQI Alicanto Min 0 10 29 -21 0.135 $ 46,041,444.54
DDD 3D Resources Limited 0 0 -20 -26 0.004 $ 15,521,488.37
GNM Great Northern 0 -11 -20 -53 0.008 $ 9,672,407.81
RMX Red Mount Min 0 -10 -18 -40 0.009 $ 13,180,124.72
SPQ Superior Resources 0 18 8 8 0.013 $ 19,537,088.68
CGN Crater Gold Min 0 0 -6 42 0.017 $ 20,867,429.74
KGM Kalnorth Gold 0 0 0 0 0.013 $ 11,625,120.78
TRY Troy Resources 0 0 -48 -75 0.037 $ 30,073,993.35
MLS Metals Australia 0 0 0 0 0.002 $ 10,477,114.72
NUS Nusantara Resources 0 1 29 18 0.3475 $ 80,506,369.93
MHC Manhattan Corp 0 0 -14 -59 0.012 $ 18,315,344.32
MBK Metal Bank 0 11 -9 -17 0.01 $ 11,890,683.04
BGD Bartongoldholdings 0 3 0.18 $ 15,451,199.28
FG1 Flynngold 0 3 0.15 $ 9,383,087.75
TAR Taruga Minerals 0 0 -14 -18 0.049 $ 25,090,940.29
IPT Impact Minerals 0 -12 -17 -38 0.015 $ 30,356,923.79
SVL Silver Mines Limited 0 13 -4 0 0.215 $ 284,083,220.74
ZAG Zuleika Gold 0 -8 -45 -66 0.022 $ 9,022,054.21
SBM St Barbara Limited 0 14 -27 -47 1.535 $ 1,085,576,384.97
BCN Beacon Minerals 0 0 -3 1 0.033 $ 120,305,049.32
PNX PNX Metals Limited 0 17 -13 -36 0.007 $ 27,391,451.33
MTH Mithril Resources 0 7 -17 -53 0.015 $ 38,703,495.62
RED Red 5 Limited 0 26 38 -8 0.27 $ 647,999,179.30
TCG Turaco Gold Limited 0 43 131 114 0.15 $ 47,228,223.56
GSN Great Southern 0 62 31 -20 0.076 $ 38,430,191.92
NXM Nexus Minerals 0 43 406 150 0.45 $ 109,759,993.60
ANL Amani Gold 0 50 200 50 0.003 $ 55,163,796.32
AGG AngloGold Ashanti 0 25 -13 -33 5.04 $ 445,146,747.35
WGX Westgold Resources. -1 17 -14 -30 1.95 $ 831,845,004.53
TBR Tribune Res -1 1 -8 -30 5 $ 278,605,488.87
NML Navarre Minerals -1 7 -32 -59 0.092 $ 67,005,326.50
S2R S2 Resources -1 -5 -48 -66 0.089 $ 31,004,612.39
STK Strickland Metals -1 87 340 -18 0.088 $ 96,092,907.33
MTC Metalstech -1 31 318 239 0.42 $ 70,832,450.75
NWM Norwest Minerals -1 15 19 -25 0.082 $ 14,809,796.55
MRZ Mont Royal Resources -1 18 20 6 0.36 $ 13,635,617.40
ERM Emmerson Resources -1 6 -11 -21 0.068 $ 34,378,455.74
FFX Firefinch -2 2 115 189 0.635 $ 597,296,394.69
MAT Matsa Resources -2 5 -26 -56 0.061 $ 21,847,431.82
ICL Iceni Gold -2 30 19 0.28 $ 32,340,598.11
CEL Challenger Exp -2 2 -11 34 0.275 $ 267,800,616.88
MEI Meteoric Resources -2 -22 -55 -60 0.025 $ 33,432,288.48
WAF West African Res -2 43 34 33 1.37 $ 1,224,204,426.51
PNR Pantoro Limited -2 5 0 0 0.21 $ 295,889,726.58
NST Northern Star -2 2 -14 -42 9.45 $ 10,982,283,606.57
WWI West Wits Mining -2 -13 -52 -29 0.041 $ 65,461,893.88
GML Gateway Mining -3 32 -36 -8 0.0185 $ 34,265,440.80
BC8 Black Cat Syndicate -3 6 -27 -26 0.55 $ 77,444,296.05
SLR Silver Lake Resource -3 23 -9 -29 1.62 $ 1,403,240,931.77
CMM Capricorn Metals -3 19 45 44 2.59 $ 931,812,745.49
AUT Auteco Minerals -3 3 -15 -41 0.0795 $ 133,374,314.88
EVN Evolution Mining -3 1 -20 -35 3.78 $ 6,891,851,557.44
CAI Calidus Resources -3 10 44 -14 0.605 $ 239,957,008.20
POL Polymetals Resources -3 4 0.14 $ 5,241,139.70
LCL Los Cerros Limited -3 12 -18 -26 0.14 $ 85,855,457.93
PRU Perseus Mining -4 13 25 26 1.635 $ 2,049,039,181.90
SSR SSR Mining Inc. -4 1 2 -22 21.19 $ 442,485,151.29
KWR Kingwest Resources -4 8 4 -40 0.13 $ 26,034,648.88
RRL Regis Resources -4 10 -19 -54 2.21 $ 1,660,508,757.60
RGL Riversgold -4 -14 -54 -60 0.024 $ 9,697,012.70
AGC AGC -4 -4 -29 0.12 $ 8,465,910.50
AGC AGC -4 -4 -29 0.12 $ 8,465,910.50
SI6 SI6 Metals Limited -4 0 -20 0 0.012 $ 17,137,727.82
PKO Peako Limited -4 -15 -34 -36 0.023 $ 7,094,444.32
KAU Kaiser Reef -4 5 -29 -44 0.225 $ 27,544,660.65
MEU Marmota Limited -4 -12 0 -8 0.044 $ 42,615,482.36
TG1 Techgen Metals -5 14 -22 0.21 $ 8,091,044.85
MKG Mako Gold -5 14 15 -9 0.105 $ 39,179,764.21
DEX Duke Exploration -5 -13 -41 0.205 $ 18,042,230.40
HMX Hammer Metals -5 -13 -45 27 0.061 $ 52,877,150.50
BGL Bellevue Gold -5 3 -14 -34 0.8575 $ 838,888,321.45
CBY Canterbury Resources -5 6 -9 -31 0.1 $ 12,019,853.00
GWR GWR Group -5 5 -52 -15 0.1475 $ 48,445,830.88
RSG Resolute Mining -5 7 -17 -54 0.4325 $ 485,712,790.64
EM2 Eagle Mountain -5 8 -25 76 0.74 $ 173,328,732.72
PDI Predictive Disc -5 42 103 203 0.185 $ 244,147,970.16
RMS Ramelius Resources -5 11 -12 -27 1.54 $ 1,247,072,312.79
BMO Bastion Minerals -5 8 26 0.265 $ 18,730,003.90
HAW Hawthorn Resources -6 6 -11 -53 0.051 $ 17,009,296.26
GOR Gold Road Res -6 6 3 -10 1.325 $ 1,172,136,632.87
KCN Kingsgate Consolid. -6 83 73 91 1.555 $ 368,498,554.25
BMR Ballymore Resources -6 -8 0 0 0.245 $ 17,512,129.85
ALK Alkane Resources -6 16 17 -34 0.895 $ 553,892,580.60
OAU Ora Gold Limited -6 -6 -27 -30 0.016 $ 13,473,523.55
SFM Santa Fe Minerals -6 -6 -20 -2 0.08 $ 5,825,503.12
AXE Archer Materials -6 -24 76 206 1.53 $ 358,877,061.00
TIE Tietto Minerals -6 39 56 -21 0.445 $ 200,800,407.86
TNR Torian Resources -6 0 -37 -12 0.029 $ 29,070,036.56
GRL Godolphin Resources -6 -6 -28 -51 0.145 $ 12,616,690.65
SRN Surefire Rescs NL -7 0 -46 -56 0.014 $ 16,012,500.93
GIB Gibb River Diamonds -7 14 24 -35 0.084 $ 17,343,774.49
AAU Antilles Gold -7 -5 -13 117 0.077 $ 23,104,377.04
ICG Inca Minerals -7 -11 -11 92 0.125 $ 62,522,839.21
RDN Raiden Resources -7 9 4 -47 0.025 $ 28,235,754.41
SLZ Sultan Resources -8 13 -5 -31 0.18 $ 12,516,190.02
E2M E2 Metals -8 -15 -34 2 0.23 $ 34,608,378.99
ADV Ardiden -8 -15 -31 -73 0.011 $ 23,686,688.92
FAU First Au -8 -27 -31 -52 0.011 $ 8,451,145.34
RXL Rox Resources -8 -4 -32 -57 0.38 $ 59,890,893.32
OBM Ora Banda Mining -9 -4 -62 -71 0.096 $ 94,499,776.99
LNY Laneway Res -9 0 -17 -29 0.005 $ 19,520,329.67
DGO DGO Gold Limited -9 -6 -18 -22 2.79 $ 231,664,691.94
MEG Megado -10 0 -42 0.095 $ 4,089,635.81
NMR Native Mineral Res -10 7 -19 0.235 $ 6,627,105.00
KTA Krakatoa Resources -11 -11 -1 -35 0.0595 $ 17,387,885.10
SVY Stavely Minerals -12 6 -26 -36 0.435 $ 117,432,653.40
M2R Miramar -12 -5 -22 -10 0.18 $ 8,498,703.60
DEG De Grey Mining -12 14 -15 -10 1.11 $ 1,564,018,364.81
RDT Red Dirt Metals -12 182 355 220 0.705 $ 103,229,951.58
BEZ Besragoldinc -13 0.14 $ 27,495,993.60
CHZ Chesser Resources -14 -11 4 -52 0.125 $ 60,514,496.25
NVA Nova Minerals -14 11 3 -9 0.155 $ 286,406,009.12
PAK Pacific American Hld -15 6 -17 -9 0.017 $ 5,415,943.30
CXU Cauldron Energy -16 -27 -31 -16 0.027 $ 13,756,221.64
GSM Golden State Mining -22 -22 -19 -64 0.105 $ 8,724,238.43

 

NEWPEAK METALS (ASX:NPM)

$14m market cap NPM has gold exploration projects in Finland and Argentina. This week, there was news from both.

The first drill hole at the ‘Satulinmäki’ prospect in Finland hit promising 5m at 1.8g/t gold from 20m (including 3m at 2.7g/t from 22m and 1m at 4.3g/t from 23m). To date, 5 holes for 921m have been completed.

Meanwhile, sampling at ‘Las Opeñas’ in Argentina has confined anomalous gold and silver at surface across a 600 x 100m geophysical anomaly.

The sample results reinforce that Las Opeñas is a priority target for drilling, NPM says.

 

APOLLO CONSOLIDATED (ASX:AOP)

Signs of the boom are back, as AOP’s friendly takeover by Ramelius Resources (ASX:RMS)  turns into a bidding war.

Fellow AOP suitor Gold Road Resources (ASX:GOR) one-upped its mid-tier colleague, with a $166 million all cash offer for the junior explorer yesterday morning.

Apollo owns the 1.1Moz Lake Rebecca gold project around 100km east of Kalgoorlie.

GOR’s 56c a share all cash offer would appear to trump the cash and scrip bid from Ramelius, which would have handed Apollo’s shareholders $99m all up in cash at 34c plus the balance in shares.

The Gold Road bid is a 23% premium to Apollo’s 45.5c closing price on October 14, before Apollo entered a trading halt ahead of the Ramelius deal, a 40% premium to the 30 day VWAP of 40c and a 73% premium to its 6 month VWAP of 32.4c.

Apollo stock hit a 12 month low of just 27c on December 15 last year.

Gold Road has also built a 19.9% stake in Apollo after picking up a number of shares at the 56c off-market offer price, effectively blocking the Ramelius bid which has a 90% minimum acceptance condition.

Apollo’s board, which recommended shareholders accept the Ramelius offer, has advised shareholders to take no action in regards to the Gold Road bid until it has prepared a target’s statement.

 

PEAK MINERALS (ASX:PUA)

PUA is spinning out its gold exploration assets into new vehicle Vertex Minerals, which has lodged a prospectus to raise $5.5m at 20c per share.

The company’s assets will include:

  • The ‘Hill End’ project — located in the region where the largest single piece of reef gold ever discovered was found — in the Lachlan Fold Belt of NSW
  • The ‘Hargraves’ project, 30km north of Hill End, a 4km by 10km goldfield “with numerous mineralised structures”
  • The ‘Pride of Elvire’ and ‘Taylors Rock ‘projects in WA

The expected date for quotation on ASX is 21 December, 2021.