Venezuelan President Nicolas Maduro might be a tad bit miffed after a British judge refused to hand control over of more than $US1bn ($1.45bn) in gold stored in London.

The court said giving Maduro control over the gold was unlawful as the UK recognised opposition leader Juan Guaido as the Latin American nation’s rightful leader.

Incidentally, this is the same view taken by the Australian government.

Maduro’s government is looking to sell Venezuela’s gold reserves to purchase the food and medical equipment it needs to battle the COVID-19 pandemic, while claiming that only it can ensure distribution of humanitarian relief and medical supplies.

>>Scroll down for the top small cap movers over the past week>>>

Adding just a little salt to the court decision wound, gold futures cracked the $US1,800 ($2,600) an ounce mark briefly in the middle of the week while spot prices are also making their way up.

Stockhead’s quick survey of analysts found strong support for further gold price appreciation, a forecast that has been supported by a Kitco News poll finding that 70 per cent of Wall Street professionals also see prices rising further.

Phoenix Futures and Options president Kevin Grady says that there is a clear floor in the market and investors are buying the dip.

Even reports that 4.8 million jobs were created in the US during the month of June failed to dampen enthusiasm for the precious metal.

 

Winners & Losers

Here’s how ASX gold stocks performed for the period June 26 – July 3 [intraday]:

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

CODE COMPANY NAME 1 WEEK RETURN 1 YEAR RETURN PRICE [INTRADAY FRI] MARKET CAP
KTA KRAKATOA RESOURCES LTD 97 200 0.067 $ 9,843,750.00
CY5 CYGNUS GOLD LTD 90 335 0.16 $ 10,578,918.00
KGM KALNORTH GOLD MINES LTD 83 83 0.011 $ 6,259,680.50
TAR TARUGA MINERALS LTD 78 51 0.035 $ 15,621,394.00
CDT CASTLE MINERALS LTD 75 180 0.015 $ 4,281,544.00
DTM DART MINING NL 72 55 0.155 $ 10,119,479.00
WWI WEST WITS MINING LTD 69 214 0.022 $ 25,578,156.00
VKA VIKING MINES LTD 67 -9 0.01 $ 2,196,025.00
AAJ ARUMA RESOURCES LTD 67 67 0.005 $ 4,107,069.50
TMX TERRAIN MINERALS LTD 60 167 0.009 $ 5,062,127.00
LNY LANEWAY RESOURCES LTD 50 -17 0.008 $ 22,320,396.00
ANL AMANI GOLD LTD 50 -25 0.0015 $ 10,251,745.00
MTH MITHRIL RESOURCES LTD 47 317 0.027 $ 38,286,508.00
MKG MAKO GOLD LTD 44 37 0.125 $ 12,996,981.00
GML GATEWAY MINING LTD 43 67 0.02 $ 28,131,936.00
GSN GREAT SOUTHERN MINING LTD 41 338 0.135 $ 59,173,888.00
AUC AUSGOLD LTD 40 180 0.04 $ 49,778,980.00
CTO CITIGOLD CORP LTD 38 10 0.0055 $ 13,005,866.00
AYR ALLOY RESOURCES LTD 37 30 0.029 $ 8,719,567.00
GMN GOLD MOUNTAIN LTD 33 10 0.068 $ 46,080,860.00
ALY ALCHEMY RESOURCES LTD 33 127 0.033 $ 12,662,060.00
DHR DARK HORSE RESOURCES LTD 33 -50 0.002 $ 5,888,126.00
MLS METALS AUSTRALIA LTD 33 0 0.002 $ 6,414,705.50
GNM GREAT NORTHERN MINERALS LTD 33 100 0.021 $ 18,085,916.00
PUA PURE ALUMINA LTD 31 -30 0.022 $ 7,599,743.50
MOH MOHO RESOURCES NL 30 94 0.11 $ 6,746,521.50
TTM TITAN MINERALS LTD 29 -47 0.105 $ 79,421,280.00
DGO DGO GOLD LTD 28 491 3.67 $ 202,291,568.00
GMR GOLDEN RIM RESOURCES LTD 27 27 0.015 $ 18,931,982.00
MEI METEORIC RESOURCES NL 27 75 0.041 $ 46,789,944.00
GBZ GBM RESOURCES LTD 27 153 0.1 $ 19,409,540.00
PRX PRODIGY GOLD NL 26 -37 0.057 $ 29,031,380.00
STN SATURN METALS LTD 25 159 0.8 $ 66,844,036.00
MDI MIDDLE ISLAND RESOURCES LTD 22 450 0.022 $ 47,075,808.00
BAR BARRA RESOURCES LTD 21 -23 0.017 $ 9,544,252.00
E2M E2 METALS LTD 21 -15 0.17 $ 20,496,562.00
DEG DE GREY MINING LTD 21 1315 0.985 $ 1,172,514,176.00
NXM NEXUS MINERALS LTD 20 30 0.063 $ 6,976,193.00
GSM GOLDEN STATE MINING LTD 19 641 0.57 $ 32,241,078.00
KWR KINGWEST RESOURCES LTD 19 19 0.155 $ 18,285,806.00
HRN HORIZON GOLD LIMITED 19 151 0.44 $ 33,673,472.00
BNR BULLETIN RESOURCES LTD 19 453 0.084 $ 14,164,153.00
A1G AFRICAN GOLD LTD 18 -16 0.13 $ 7,553,000.00
RED RED 5 LTD 18 35 0.23 $ 450,534,432.00
BC8 BLACK CAT SYNDICATE LTD 17 232 0.895 $ 80,032,640.00
KZR KALAMAZOO RESOURCES LIMITED 17 430 0.79 $ 102,922,416.00
AWV ANOVA METALS LTD 17 189 0.029 $ 33,670,120.00
MEU MARMOTA LTD 16 306 0.066 $ 54,105,100.00
HRZ HORIZON MINERALS LTD 16 31 0.13 $ 56,621,900.00
VAN VANGO MINING LTD 15 -31 0.115 $ 91,453,392.00
AAR ANGLO AUSTRALIAN RESOURCES 14 139 0.16 $ 72,351,856.00
AQI ALICANTO MINERALS LTD 14 44 0.065 $ 15,707,980.00
AGS ALLIANCE RESOURCES LTD 13 99 0.17 $ 30,311,014.00
LEX LEFROY EXPLORATION LTD 13 0 0.215 $ 20,097,348.00
EVN EVOLUTION MINING LTD 13 44 6.03 $ 10,260,572,160.00
SAU SOUTHERN GOLD LTD 13 23 0.14 $ 17,966,026.00
GED GOLDEN DEEPS LTD 13 -69 0.009 $ 3,156,846.50
SLZ SULTAN RESOURCES LTD 11 150 0.155 $ 8,500,668.00
WMX WILUNA MINING CORP LTD 11 23 1.53 $ 142,402,864.00
BYH BRYAH RESOURCES LTD 10 -5 0.058 $ 6,677,264.00
TLM TALISMAN MINING LTD 10 100 0.175 $ 32,659,968.00
SVL SILVER MINES LTD 10 116 0.11 $ 111,027,184.00
CAI CALIDUS RESOURCES LTD 10 87 0.555 $ 128,525,856.00
NVA NOVA MINERALS LTD 10 171 0.055 $ 62,611,708.00
SLR SILVER LAKE RESOURCES LTD 10 83 2.24 $ 1,953,253,888.00
TIE TIETTO MINERALS LTD 9 231 0.535 $ 190,815,488.00
PRU PERSEUS MINING LTD 9 125 1.32 $ 1,541,833,216.00
AME ALTO METALS LTD 9 121 0.073 $ 21,416,286.00
SAR SARACEN MINERAL HOLDINGS LTD 9 58 5.725 $ 6,220,872,192.00
TSO TESORO RESOURCES LTD 9 87 0.075 $ 34,480,128.00
GOR GOLD ROAD RESOURCES LTD 8 62 1.73 $ 1,482,317,568.00
KRM KINGSROSE MINING LTD 8 20 0.041 $ 30,660,308.00
RSG RESOLUTE MINING LTD 8 -9 1.195 $ 1,339,934,720.00
EMR EMERALD RESOURCES NL 7 40 0.57 $ 288,119,008.00
MLL MALI LITHIUM LTD 7 -22 0.099 $ 33,321,552.00
HAW HAWTHORN RESOURCES LTD 7 192 0.155 $ 50,027,340.00
MCT METALICITY LTD 7 411 0.031 $ 50,286,012.00
MAU MAGNETIC RESOURCES NL 7 193 1.28 $ 269,987,488.00
OKR OKAPI RESOURCES LTD 7 -11 0.16 $ 5,766,858.50
KCN KINGSGATE CONSOLIDATED LTD 6 55 0.42 $ 93,883,768.00
CMM CAPRICORN METALS LTD 6 310 1.83 $ 596,412,672.00
NUS NUSANTARA RESOURCES LTD 6 100 0.335 $ 67,846,176.00
NCM NEWCREST MINING LTD 6 5 33.01 $ 26,546,819,072.00
TRY TROY RESOURCES LTD 6 0 0.088 $ 54,357,484.00
BDC BARDOC GOLD LTD 6 59 0.088 $ 124,218,640.00
CWX CARAWINE RESOURCES LTD 6 91 0.19 $ 14,681,085.00
RRL REGIS RESOURCES LTD 6 7 5.47 $ 2,794,992,640.00
ARS ALT RESOURCES LTD 5 220 0.047 $ 28,580,744.00
NST NORTHERN STAR RESOURCES LTD 5 27 14.31 $ 10,584,160,256.00
ARM AURORA MINERALS LTD 5 91 0.021 $ 4,685,331.50
GUL GULLEWA LTD 5 221 0.09 $ 14,601,200.00
ERM EMMERSON RESOURCES LTD 5 10 0.11 $ 44,609,656.00
AOP APOLLO CONSOLIDATED LTD 5 41 0.335 $ 93,510,720.00
WGX WESTGOLD RESOURCES LTD 4 22 2.29 $ 924,506,624.00
RND RAND MINING LTD 4 -36 2.08 $ 125,108,832.00
GBR GREAT BOULDER RESOURCES LTD 4 -49 0.037 $ 3,736,711.75
MML MEDUSA MINING LTD 4 18 0.735 $ 152,728,816.00
TAM TANAMI GOLD NL 3 46 0.059 $ 69,330,728.00
ONX ORMINEX LTD 3 -79 0.031 $ 19,407,678.00
SFM SANTA FE MINERALS LTD 3 -35 0.062 $ 4,514,765.00
SBM ST BARBARA LTD 3 13 3.32 $ 2,306,150,400.00
BCN BEACON MINERALS LTD 3 30 0.04 $ 117,365,752.00
DCN DACIAN GOLD LTD 2 38 0.43 $ 255,881,792.00
NAG NAGAMBIE RESOURCES LTD 2 18 0.054 $ 25,996,482.00
VMC VENUS METALS CORP LTD 2 118 0.305 $ 47,589,784.00
CDV CARDINAL RESOURCES LTD 1 87 0.615 $ 310,015,200.00
ALK ALKANE RESOURCES LTD 0 194 1.245 $ 725,041,664.00
PGI PANTERRA GOLD LTD 0 150 0.05 $ 10,342,507.00
SMI SANTANA MINERALS LTD 0 -33 0.002 $ 5,367,891.00
AVW AVIRA RESOURCES LTD 0 0 0.004 $ 3,375,000.00
BRB BREAKER RESOURCES NL 0 -10 0.285 $ 69,396,024.00
MSR MANAS RESOUCES LTD 0 100 0.006 $ 15,858,975.00
SPX SPECTRUM METALS LTD 0 805 0.19
ADN ANDROMEDA METALS LTD 0 253 0.054 $ 82,774,616.00
MAT MATSA RESOURCES LTD 0 11 0.155 $ 35,195,444.00
OAU ORA GOLD LTD 0 36 0.018 $ 11,480,952.00
RML RESOLUTION MINERALS LTD 0 128 0.086 $ 17,753,298.00
TBR TRIBUNE RESOURCES LTD 0 27 7.03 $ 363,079,104.00
PDI PREDICTIVE DISCOVERY LTD -1 494 0.082 $ 70,854,216.00
RXL ROX RESOURCES LTD -1 486 0.083 $ 169,073,584.00
RGL RIVERSGOLD LTD -1 347 0.081 $ 22,832,644.00
RMS RAMELIUS RESOURCES LTD -1 166 2.03 $ 1,607,879,168.00
DGR DGR GLOBAL LTD -2 -41 0.056 $ 45,222,180.00
ARL ARDEA RESOURCES LTD -2 -12 0.28 $ 32,257,620.00
SKY SKY METALS LTD -2 483 0.2425 $ 76,225,280.00
CHN CHALICE GOLD MINES LTD -2 667 0.94 $ 297,466,432.00
BBX BBX MINERALS LTD -3 -33 0.17 $ 62,601,252.00
ARV ARTEMIS RESOURCES LTD -3 103 0.064 $ 66,164,448.00
AMG AUSMEX MINING GROUP LTD -3 -72 0.031 $ 16,974,618.00
DAU DAMPIER GOLD LTD -4 8 0.027 $ 7,503,608.00
CYL CATALYST METALS LTD -4 28 2.65 $ 229,895,008.00
HMX HAMMER METALS LTD -4 72 0.043 $ 26,026,046.00
GWR GWR GROUP LTD -5 -56 0.061 $ 16,555,254.00
NES NELSON RESOURCES LTD -6 11 0.049 $ 3,169,305.75
NWM NORWEST MINERALS LTD -6 -18 0.15 $ 12,576,027.00
FML FOCUS MINERALS LTD -6 -8 0.23 $ 42,945,912.00
BRV BIG RIVER GOLD LTD -6 50 0.029 $ 40,857,512.00
WAF WEST AFRICAN RESOURCES LTD -7 177 0.9 $ 796,097,728.00
BGL BELLEVUE GOLD LTD -9 42 0.97 $ 705,088,256.00
TSC TWENTY SEVEN CO LTD -9 100 0.005 $ 7,431,604.50
OKU OKLO RESOURCES LTD -10 100 0.295 $ 141,693,936.00
SIH SIHAYO GOLD LTD -10 93 0.027 $ 56,639,792.00
CGN CRATER GOLD MINING LTD -10 -31 0.01 $ 11,047,463.00
VRC VOLT RESOURCES LTD -22 17 0.02 $ 37,976,736.00
CXU CAULDRON ENERGY LTD -24 -6 0.016 $ 6,020,637.50
DTR DATELINE RESOURCES LTD -25 -40 0.002 $ 12,315,117.00
TNR TORIAN RESOURCES LTD -30 111 0.019 $ 8,464,240.00

 

Small cap highlights:

Shares in Krakatoa Resources (ASX:KTA) soared on the back of last week’s reveal that it had unearthed results for historical shallow rotary air blast holes drilled north of the previously-producing Quartz Ridge mine near Bathurst, New South Wales.

The company noted that the results of up to 10m at 1.64 grams per tonne (g/t) gold were not tested by any subsequent exploration.

Krakatoa says Quartz Ridge comprises a line of historical workings with elevated prospectivity extending over 1.6km in length.

The company has now applied for approval to carry out a diamond drill program at the Turon project, which hosts the mine.

Shares in Castle Minerals (ASX:CDT) climbed after it recorded anomalous gold values of up to 88.9g/t during a reconnaissance sampling and mapping program ahead of maiden drilling at its Wanganui project near Meekatharra.

The Wanganui project presents an opportunity to extend shallow, open-pit mined oxide mineralisation down-plunge into fresh rock and to identify new deposits along strike, Castle says.

Fresh mineralised quartz vein material collected at the Main Lode South Pit returned gold mineralisation, confirming expectations the mineralisation will continue down-plunge.