There aren’t any cheap gold stocks left on the ASX, some say.

But maybe they aren’t digging deep enough into the sub-$10m market cap ‘bargain box’ bracket.

It always pays to do proper research before you invest. Some microcap explorers couldn’t hit water if they fell out of a boat.

But lately, punters have been jumping onboard some absolute gems.

Explorers like Riversgold (ASX:RGL), which grew its market cap from $1.9m to +$20m on a cluster of good news, which includes well-known mining investor Tolga Kumova joining the register.

Or Golden State Mining (ASX:GSM), which is currently drilling right next door to De Grey’s (ASX:DEG) regionally defining Hemi discovery in the Pilbara.

Golden State, which had a $2.5m market cap in January, is now worth almost $20m.

Then ­­­­­­there’s the seminal Predictive Discovery (ASX:PDI)a sub-$5m battler transformed into a stunning, $60m market cap butterfly.

We were friends with Predictive before they were cool.

The list goes on. Currently, there are 25 gold stocks on our list with a market cap under $10m.

That number is creeping lower as we speak.

One month ago, there were 31 gold stocks with a sub $10m market cap; two months ago, it was 36, and at the start of the year it was 45.

Where’s the next bargain stock multi-bagger coming from?

USD (yellow) and AUD (orange) gold prices over the past month.

Winners & Losers

Here’s how ASX-listed gold stocks performed for the period July 20 –24 [intraday]:

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

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CODE NAME 1 WEEK RETURN % 1 YEAR RETURN % PRICE [INTRADAY FRIDAY] MARKET CAP
VKA VIKING MINES 10 0 0.011 $ 2,823,460.75
AAJ ARUMA RESOURCES -10 0 0.0045 $ 3,696,362.50
GED GOLDEN DEEPS 22 -61 0.011 $ 3,858,367.75
MLS METALS AUSTRALIA 0 33 0.002 $ 4,811,029.00
ARM AURORA MINERALS 0 57 0.022 $ 5,153,864.50
SMI SANTANA MINERALS 0 -33 0.002 $ 5,367,891.00
SFM SANTA FE MINERALS 0 -18 0.075 $ 5,461,409.00
OKR OKAPI RESOURCES -11 0 0.165 $ 6,127,287.00
GBR GREAT BOULDER RESOURCES 13 21 0.06 $ 6,672,699.50
CDT CASTLE MINERALS 23 167 0.016 $ 6,811,547.50
TMX TERRAIN MINERALS 20 200 0.012 $ 7,231,610.00
BYH BRYAH RESOURCES 2 -33 0.054 $ 7,284,288.00
TSC TWENTY SEVEN CO 0 100 0.005 $ 7,431,604.50
ANL AMANI GOLD -33 -60 0.001 $ 7,838,196.50
CXU CAULDRON ENERGY 0 5 0.021 $ 7,902,086.50
DHR DARK HORSE RESOURCES -25 -50 0.0015 $ 7,930,792.50
KGM KALNORTH GOLD MINES 0 50 0.009 $ 8,048,160.50
AVW AVIRA RESOURCES -9 67 0.005 $ 8,250,000.00
NES NELSON RESOURCES 26 87 0.068 $ 8,495,359.00
DAU DAMPIER GOLD -9 14 0.032 $ 8,575,552.00
MOH MOHO RESOURCES 8 159 0.14 $ 8,586,482.00
TNR TORIAN RESOURCES -6 39 0.016 $ 8,838,208.00
A1G AFRICAN GOLD 33 16 0.18 $ 9,119,471.00
ALY ALCHEMY RESOURCES 18 60 0.02 $ 9,358,914.00
PGI PANTERRA GOLD -4 85 0.048 $ 9,561,941.00
NXM NEXUS MINERALS -3 48 0.068 $ 10,038,349.00
SLZ SULTAN RESOURCES 26 200 0.195 $ 10,259,428.00
PUA PURE ALUMINA 9 -6 0.024 $ 10,609,038.00
AYR ALLOY RESOURCES 25 75 0.035 $ 12,262,878.00
BAR BARRA RESOURCES 5 -5 0.021 $ 12,526,831.00
NWM NORWEST MINERALS 3 -7 0.16 $ 12,995,228.00
CTO CITIGOLD CORP 25 -17 0.005 $ 13,005,866.00
MSR MANAS RESOUCES 9 71 0.006 $ 13,215,812.00
BNR BULLETIN RESOURCES 1 316 0.079 $ 13,267,687.00
OAU ORA GOLD 0 100 0.016 $ 13,453,524.00
DTM DART MINING 39 130 0.23 $ 13,492,639.00
CWX CARAWINE RESOURCES 3 41 0.19 $ 13,908,397.00
TAR TARUGA MINERALS 6 61 0.038 $ 14,840,324.00
GNM GREAT NORTHERN MINERALS 21 130 0.023 $ 15,619,656.00
CGN CRATER GOLD MINING 50 -20 0.012 $ 15,957,446.00
DTR DATELINE RESOURCES 0 -33 0.002 $ 16,420,156.00
CY5 CYGNUS GOLD 19 126 0.215 $ 16,432,727.00
SAU SOUTHERN GOLD 0 -24 0.13 $ 16,682,738.00
RML RESOLUTION MINERALS 21 176 0.094 $ 16,721,129.00
AMG AUSMEX MINING GROUP 13 -75 0.035 $ 16,974,618.00
AQI ALICANTO MINERALS 18 18 0.071 $ 16,974,754.00
GWR GWR GROUP -4 -50 0.07 $ 17,828,736.00
GUL GULLEWA 29 267 0.11 $ 17,845,912.00
KWR KINGWEST RESOURCES 26 6 0.17 $ 18,285,806.00
ONX ORMINEX -15 -77 0.034 $ 18,329,474.00
GMR GOLDEN RIM RESOURCES 0 27 0.014 $ 19,131,946.00
GSM GOLDEN STATE MINING -3 289 0.35 $ 19,366,988.00
RGL RIVERSGOLD 3 290 0.069 $ 20,017,660.00
AME ALTO METALS 0 87 0.072 $ 20,902,882.00
E2M E2 METALS 13 -27 0.18 $ 20,992,030.00
MKG MAKO GOLD 4 45 0.125 $ 21,671,306.00
KTA KRAKATOA RESOURCES 22 317 0.1 $ 22,138,750.00
HMX HAMMER METALS -5 60 0.04 $ 22,906,078.00
WWI WEST WITS MINING 17 200 0.021 $ 23,531,904.00
NAG NAGAMBIE RESOURCES 24 40 0.056 $ 23,996,752.00
LEX LEFROY EXPLORATION 2 19 0.255 $ 25,121,686.00
KRM KINGSROSE MINING 3 22 0.039 $ 28,470,286.00
AGS ALLIANCE RESOURCES 9 100 0.175 $ 28,528,012.00
ARS ALT RESOURCES 2 78 0.048 $ 29,188,846.00
LNY LANEWAY RESOURCES 13 0 0.009 $ 29,880,528.00
TLM TALISMAN MINING -3 86 0.16 $ 31,726,826.00
GML GATEWAY MINING 22 29 0.022 $ 31,761,904.00
GBZ GBM RESOURCES 28 183 0.105 $ 32,840,362.00
MAT MATSA RESOURCES 0 0 0.15 $ 32,924,768.00
GMN GOLD MOUNTAIN -14 -29 0.049 $ 33,303,458.00
MCT METALICITY 4 208 0.024 $ 35,293,672.00
VRC VOLT RESOURCES -5 1 0.019 $ 36,077,900.00
AUC AUSGOLD 3 119 0.035 $ 39,823,184.00
AWV ANOVA METALS 10 180 0.032 $ 39,905,328.00
VMC VENUS METALS -7 74 0.27 $ 42,302,032.00
PRX PRODIGY GOLD 3 -41 0.071 $ 42,385,816.00
BRV BIG RIVER GOLD 3 278 0.034 $ 43,493,484.00
MEI METEORIC RESOURCES 6 54 0.037 $ 44,327,316.00
ARL ARDEA RESOURCES 17 5 0.42 $ 45,160,668.00
HRN HORIZON GOLD -2 195 0.59 $ 45,535,716.00
ERM EMMERSON RESOURCES -2 -23 0.1 $ 46,010,388.00
MEU MARMOTA -9 212 0.053 $ 47,433,652.00
MTH MITHRIL RESOURCES 30 420 0.026 $ 49,061,028.00
MLL MALI LITHIUM 11 4 0.155 $ 49,188,956.00
HAW HAWTHORN RESOURCES 3 173 0.15 $ 50,027,340.00
DGR DGR GLOBAL 0 -20 0.068 $ 53,653,436.00
TSO TESORO RESOURCES 36 195 0.12 $ 54,773,800.00
MDI MIDDLE ISLAND RESOURCES 14 257 0.025 $ 55,969,556.00
TRY TROY RESOURCES -3 -6 0.089 $ 56,885,740.00
SIH SIHAYO GOLD 0 133 0.028 $ 58,737,560.00
NVA NOVA MINERALS -10 108 0.052 $ 58,783,036.00
BRB BREAKER RESOURCES 4 -35 0.26 $ 60,143,220.00
STN SATURN METALS 3 89 0.7 $ 62,006,640.00
HRZ HORIZON MINERALS 7 12 0.145 $ 63,416,528.00
PDI PREDICTIVE DISCOVERY -7 524 0.08 $ 64,263,128.00
NUS NUSANTARA RESOURCES 7 64 0.32 $ 64,874,416.00
GSN GREAT SOUTHERN MINING 10 202 0.16 $ 65,455,324.00
SKY SKY METALS -7 287 0.205 $ 67,078,244.00
FML FOCUS MINERALS 22 1 0.365 $ 67,616,968.00
ARV ARTEMIS RESOURCES -3 144 0.078 $ 72,367,360.00
ADN ANDROMEDA METALS 4 150 0.05 $ 75,565,704.00
BBX BBX MINERALS 11 0 0.2 $ 77,208,216.00
AAR ANGLO AUSTRALIAN RESOURCES 30 207 0.175 $ 81,687,576.00
BC8 BLACK CAT SYNDICATE -9 136 0.815 $ 89,539,136.00
VAN VANGO MINING -8 -34 0.115 $ 95,610,368.00
TAM TANAMI GOLD 23 60 0.08 $ 96,357,960.00
AOP APOLLO CONSOLIDATED 10 73 0.38 $ 98,219,888.00
BCN BEACON MINERALS -5 13 0.036 $ 103,114,056.00
KZR KALAMAZOO RESOURCES 7 235 0.77 $ 105,576,560.00
TTM TITAN MINERALS 9 -32 0.125 $ 129,059,584.00
RND RAND MINING 4 -31 2.16 $ 129,920,704.00
KCN KINGSGATE CONSOLIDATED 8 119 0.58 $ 132,342,176.00
CAI CALIDUS RESOURCES 7 103 0.61 $ 132,919,904.00
WMX WILUNA MINING 7 41 1.405 $ 138,892,928.00
RXL ROX RESOURCES 0 436 0.075 $ 145,938,816.00
BDC BARDOC GOLD -11 8 0.086 $ 153,261,664.00
MML MEDUSA MINING 5 3 0.765 $ 157,923,664.00
SVL SILVER MINES 46 136 0.175 $ 166,670,624.00
OKU OKLO RESOURCES 4 115 0.355 $ 167,671,168.00
DCN DACIAN GOLD 2 -52 0.315 $ 175,223,408.00
DGO DGO GOLD -3 292 3.25 $ 195,759,520.00
CYL CATALYST METALS 4 26 2.7 $ 230,719,152.00
TIE TIETTO MINERALS 5 297 0.695 $ 253,231,760.00
AUT AUTECO MINERALS 9 2471 0.18 $ 274,256,320.00
EMR EMERALD RESOURCES -3 50 0.57 $ 298,521,344.00
MAU MAGNETIC RESOURCES -1 212 1.42 $ 299,517,344.00
CHN CHALICE GOLD MINES 1 573 1.11 $ 344,404,992.00
TBR TRIBUNE RESOURCES 4 1 7.3 $ 368,325,888.00
CDV CARDINAL RESOURCES 7 100 0.73 $ 381,367,776.00
RED RED 5 14 11 0.25 $ 440,907,680.00
CMM CAPRICORN METALS 7 154 1.965 $ 629,092,864.00
ALK ALKANE RESOURCES 9 203 1.24 $ 738,108,608.00
BGL BELLEVUE GOLD 1 70 1.06 $ 863,056,384.00
WAF WEST AFRICAN RESOURCES 3 173 1.05 $ 918,597,504.00
DEG DE GREY MINING 21 1267 0.82 $ 918,961,920.00
WGX WESTGOLD RESOURCES 10 22 2.46 $ 1,050,575,680.00
RSG RESOLUTE MINING 19 -22 1.39 $ 1,543,957,760.00
GOR GOLD ROAD RESOURCES 8 39 1.94 $ 1,737,434,624.00
PRU PERSEUS MINING 9 111 1.51 $ 1,761,383,168.00
RMS RAMELIUS RESOURCES 12 165 2.21 $ 1,821,457,024.00
SLR SILVER LAKE RESOURCES 12 79 2.58 $ 2,227,025,664.00
SBM ST BARBARA 6 10 3.79 $ 2,664,728,576.00
RRL REGIS RESOURCES 7 -6 5.85 $ 2,988,638,720.00
SAR SARACEN MINERAL HOLDINGS 7 51 6.22 $ 6,860,606,976.00
EVN EVOLUTION MINING 6 29 6.31 $ 10,976,425,984.00
NST NORTHERN STAR RESOURCES 8 15 15.9 $ 11,800,397,824.00
NCM NEWCREST MINING 6 4 34.79 $ 27,852,533,760.00