Think you've missed the gold run? There's still upside from here. Pic: Getty Images
Gold Digger: Why there’s still massive upside in ASX gold miners
Mining
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- Gold has been one of the best performing commodities in recent times
- But equities have gone ignored by the market
- Now analysts see top performing gold plays catching up
Stronger for longer gold prices have seen analysts ramp up bets on gold miners, who are beginning to take advantage of a prolonged run in bullion prices that has sent margins soaring.
Gold prices remain above $4000/oz on an Aussie-dollar basis as inflationary pressures and interest-rate hikes begin to ease, with even a Trump-inspired greenback rally and gold pullback leaving bullion well supported at US$2640/oz.
Recognising the likelihood of a prolonged run at these levels, gold producers have also spent big closing hedges previously taken on to reduce execution risk and appease financiers.
That means most gold miners are now entirely exposed to what is, in historical terms, an extraordinary spot price.
More analysts are tipping that ultimate strength to continue.
RBC today lifted its medium-term forecast for gold from US$2655/oz to US$2823/oz, tipping, at least momentarily, a new record high.
Long term gold prices are sitting still at US$2200/oz from 2029.
But it should be worth noting, longer range forecasts more often than not undershoot on the actual gold price, as noted in this RFC Ambrian analysis.
What does that mean for companies?
RBC has plugged in the new gold price forecasts to its price targets, lifting them across its coverage of companies in the sector by an average of 12%.
And recent movements have shown some shifting sands that suggest the worm and market is subtly turning for gold stocks.
Gold equities under RBC’s coverage are up 15% in CY2024 against gold metal at 35%. But since the next financial year began that’s flipped to 20-17 in favour of gold miners.
Of the nine mid-tier and major goldies tracked by RBC’s experts, six – Westgold Resources (ASX:WGX), Regis Resources (ASX:RRL), De Grey Mining (ASX:DEG), Gold Road Resources (ASX:GOR), Evolution Mining (ASX:EVN) and St Barbara (ASX:SBM) – are unhedged. De Grey is pre-revenue but owns the massive Hemi project in the Pilbara, this week the subject of a $5bn scrip takeover bid from Northern Star.
Three – Vault Minerals (ASX:VAU), Bellevue Gold (ASX:BGL) and Northern Star Resources (ASX:NST) – still carry a hedgebook.
The strongest price target increases came for Westgold (up 20% to $4.20 for 43% upside), Regis (up 19% to $3.80 for 41% upside) and Gold Road (up 21% to $2.30 for 13% upside).
Winners & Losers
Here’s how ASX-listed precious metals stocks are performing:
| CODE | COMPANY | PRICE | WEEK % | MONTH % | 6 MONTH % | YEAR % | YTD % | MARKET CAP |
|---|---|---|---|---|---|---|---|---|
| MRR | Minrex Resources Ltd | 0.008 | 0% | 0% | -20% | -53% | -53% | $ 8,678,940.02 |
| NPM | Newpeak Metals | 0.01 | 0% | -9% | -63% | -34% | -30% | $ 3,054,050.65 |
| ASO | Aston Minerals Ltd | 0.009 | 0% | -10% | -36% | -69% | -63% | $ 10,360,514.15 |
| MTC | Metalstech Ltd | 0.115 | -4% | -21% | -47% | -18% | -48% | $ 22,717,040.55 |
| GED | Golden Deeps | 0.028 | 4% | -7% | -30% | -40% | -39% | $ 4,545,670.47 |
| G88 | Golden Mile Res Ltd | 0.009 | -10% | -40% | -25% | -55% | -53% | $ 4,255,405.70 |
| LAT | Latitude 66 Limited | 0.07 | 0% | -33% | 3400% | -65% | -65% | $ 9,321,045.83 |
| NMR | Native Mineral Res | 0.032 | -9% | 0% | -3% | 19% | 60% | $ 14,548,992.15 |
| AQX | Alice Queen Ltd | 0.0075 | -6% | -6% | 7% | 7% | 50% | $ 8,028,230.48 |
| SLZ | Sultan Resources Ltd | 0.006 | -14% | -40% | -40% | -56% | -73% | $ 1,388,819.46 |
| MKG | Mako Gold | 0.014 | 0% | -22% | 40% | 56% | 40% | $ 15,785,905.20 |
| KSN | Kingston Resources | 0.09 | 0% | -10% | 10% | 4% | 17% | $ 63,647,221.32 |
| AMI | Aurelia Metals Ltd | 0.17 | -3% | -6% | 0% | 62% | 55% | $ 296,023,801.85 |
| GIB | Gibb River Diamonds | 0.039 | 8% | 5% | -19% | 30% | 30% | $ 8,151,358.91 |
| KCN | Kingsgate Consolid. | 1.455 | 3% | -3% | -17% | 4% | 6% | $ 376,317,470.32 |
| TMX | Terrain Minerals | 0.0035 | 17% | 0% | 17% | -30% | -30% | $ 6,300,100.81 |
| BNR | Bulletin Res Ltd | 0.041 | 3% | -2% | -9% | -64% | -71% | $ 12,038,146.24 |
| NXM | Nexus Minerals Ltd | 0.053 | -12% | -15% | 10% | 0% | 13% | $ 27,234,208.96 |
| SKY | SKY Metals Ltd | 0.055 | 6% | 4% | 41% | 53% | 53% | $ 37,306,674.13 |
| LM8 | Lunnonmetalslimited | 0.24 | 2% | -26% | -4% | -63% | -60% | $ 51,838,474.46 |
| CST | Castile Resources | 0.079 | -2% | -6% | -2% | 3% | -4% | $ 18,142,682.03 |
| YRL | Yandal Resources | 0.26 | 16% | -32% | 93% | 189% | 213% | $ 88,530,572.62 |
| FAU | First Au Ltd | 0.002 | 0% | 0% | -33% | 0% | -33% | $ 4,143,986.55 |
| ARL | Ardea Resources Ltd | 0.33 | -6% | -18% | -45% | -25% | -31% | $ 65,895,361.95 |
| GWR | GWR Group Ltd | 0.088 | 4% | 1% | -6% | 7% | -7% | $ 28,267,065.64 |
| IVR | Investigator Res Ltd | 0.037 | 0% | -18% | -33% | -24% | -3% | $ 60,377,423.81 |
| GTR | Gti Energy Ltd | 0.003 | -25% | -33% | -45% | -63% | -63% | $ 11,851,798.65 |
| IPT | Impact Minerals | 0.011 | 0% | -8% | -42% | 0% | 0% | $ 35,183,487.76 |
| BNZ | Benzmining | 0.4 | 29% | 54% | 150% | 43% | 60% | $ 50,310,529.20 |
| MOH | Moho Resources | 0.0045 | -10% | -25% | 13% | -55% | -55% | $ 3,032,877.36 |
| BCM | Brazilian Critical | 0.011 | 0% | 38% | -50% | -50% | -58% | $ 9,773,615.47 |
| PUA | Peak Minerals Ltd | 0.007 | 17% | 8% | 111% | 182% | 182% | $ 16,231,216.72 |
| MRZ | Mont Royal Resources | 0.04 | 0% | -20% | -25% | -75% | -73% | $ 3,401,191.72 |
| SMS | Starmineralslimited | 0.037 | -5% | -17% | 37% | 7% | -1% | $ 4,021,522.33 |
| MVL | Marvel Gold Limited | 0.01 | 0% | -17% | 11% | 11% | -17% | $ 8,637,907.03 |
| PRX | Prodigy Gold NL | 0.002 | 0% | 0% | -10% | -75% | -62% | $ 6,350,111.10 |
| AAU | Antilles Gold Ltd | 0.005 | 25% | 25% | -17% | -78% | -78% | $ 7,422,970.90 |
| CWX | Carawine Resources | 0.11 | 0% | 10% | 5% | -4% | 0% | $ 25,973,799.39 |
| RND | Rand Mining Ltd | 1.53 | -3% | -24% | 3% | 19% | 12% | $ 87,020,220.33 |
| CAZ | Cazaly Resources | 0.019 | 36% | 36% | -17% | -42% | -34% | $ 9,226,059.82 |
| BMR | Ballymore Resources | 0.165 | 10% | 18% | -6% | 10% | 32% | $ 29,160,546.53 |
| DRE | Dreadnought Resources Ltd | 0.013 | -13% | -13% | -19% | -60% | -57% | $ 52,538,500.00 |
| ZNC | Zenith Minerals Ltd | 0.041 | -2% | -11% | -33% | -71% | -73% | $ 16,995,873.05 |
| REZ | Resourc & En Grp Ltd | 0.027 | 0% | -10% | 125% | 80% | 93% | $ 18,134,256.29 |
| LEX | Lefroy Exploration | 0.071 | -3% | -1% | -20% | -57% | -59% | $ 17,305,838.70 |
| ERM | Emmerson Resources | 0.057 | 0% | 24% | 33% | -5% | -3% | $ 32,137,877.49 |
| AM7 | Arcadia Minerals | 0.022 | -4% | -35% | -60% | -74% | -70% | $ 2,575,102.20 |
| ADT | Adriatic Metals | 4.08 | -1% | -3% | 8% | 27% | 2% | $ 1,159,518,982.02 |
| AS1 | Asara Resources Ltd | 0.025 | 9% | 25% | 127% | 108% | 150% | $ 25,913,167.98 |
| CYL | Catalyst Metals | 2.66 | 0% | -20% | 174% | 153% | 230% | $ 625,974,416.88 |
| CHN | Chalice Mining Ltd | 1.3125 | -2% | -32% | -17% | -12% | -23% | $ 534,911,833.50 |
| KAL | Kalgoorliegoldmining | 0.021 | -13% | 5% | -40% | -16% | -22% | $ 6,487,401.65 |
| MLS | Metals Australia | 0.025 | 0% | 9% | 14% | -28% | -32% | $ 18,180,488.10 |
| ADN | Andromeda Metals Ltd | 0.0075 | -6% | 25% | -64% | -63% | -70% | $ 24,001,093.82 |
| MEI | Meteoric Resources | 0.0885 | -5% | -20% | -52% | -56% | -66% | $ 209,182,720.38 |
| SRN | Surefire Rescs NL | 0.004 | 33% | 0% | -50% | -60% | -53% | $ 7,945,231.25 |
| WA8 | Warriedarresourltd | 0.06 | 2% | 11% | 25% | -3% | 13% | $ 46,665,935.92 |
| HMX | Hammer Metals Ltd | 0.035 | 0% | -15% | 3% | -38% | -33% | $ 30,183,795.80 |
| WCN | White Cliff Min Ltd | 0.016 | 0% | -16% | -16% | 45% | 78% | $ 30,247,531.97 |
| AVM | Advance Metals Ltd | 0.033 | 6% | -27% | 50% | -40% | -10% | $ 5,560,472.74 |
| ASR | Asra Minerals Ltd | 0.003 | 0% | 0% | -50% | -63% | -57% | $ 6,937,807.46 |
| ARI | Arika Resources | 0.03 | -6% | 11% | 50% | 100% | 20% | $ 18,675,259.14 |
| AME | Alto Metals Limited | 0.094 | 2% | 11% | 141% | 124% | 119% | $ 69,538,678.17 |
| CTO | Citigold Corp Ltd | 0.004 | 0% | 0% | -20% | 0% | -20% | $ 12,000,000.00 |
| SMI | Santana Minerals Ltd | 0.485 | -6% | -26% | 42% | 87% | 44% | $ 319,960,962.00 |
| M2R | Miramar | 0.004 | -20% | -33% | -61% | -78% | -80% | $ 1,984,116.43 |
| MHCDA | Manhattan Corp Ltd | 0.025 | -38% | 25% | -25% | -62% | -62% | $ 5,622,462.33 |
| GRL | Godolphin Resources | 0.017 | 21% | 0% | -37% | -55% | -56% | $ 5,375,590.76 |
| SVG | Savannah Goldfields | 0.022 | 5% | 5% | -21% | -61% | -56% | $ 6,183,868.15 |
| EMC | Everest Metals Corp | 0.14 | 12% | 4% | 17% | 69% | 75% | $ 26,079,635.26 |
| GUL | Gullewa Limited | 0.059 | -2% | -16% | -17% | 7% | 7% | $ 12,391,308.15 |
| CY5 | Cygnus Metals Ltd | 0.12 | -4% | -14% | 103% | -13% | -11% | $ 52,302,470.66 |
| G50 | G50Corp Ltd | 0.185 | -21% | 28% | 19% | 54% | 37% | $ 29,275,277.14 |
| ADV | Ardiden Ltd | 0.13 | 0% | -7% | -13% | -35% | -26% | $ 8,127,275.78 |
| AAR | Astral Resources NL | 0.14 | 8% | 0% | 84% | 77% | 92% | $ 162,321,519.51 |
| VMC | Venus Metals Cor Ltd | 0.065 | -7% | -7% | -14% | -35% | -35% | $ 12,748,364.40 |
| NAE | New Age Exploration | 0.004 | -11% | -33% | 0% | -33% | -33% | $ 9,647,545.10 |
| VKA | Viking Mines Ltd | 0.01 | 11% | 0% | 25% | -17% | -29% | $ 13,281,473.20 |
| LCL | LCL Resources Ltd | 0.009 | -10% | 0% | -25% | -59% | -47% | $ 10,753,314.36 |
| MTH | Mithril Silver Gold | 0.36 | -6% | -22% | 67% | 80% | 80% | $ 53,526,243.14 |
| ADG | Adelong Gold Limited | 0.005 | -17% | 11% | -17% | 0% | 0% | $ 5,589,944.79 |
| RMX | Red Mount Min Ltd | 0.01 | 0% | 0% | 0% | -71% | -62% | $ 3,873,577.96 |
| PRS | Prospech Limited | 0.028 | -3% | 0% | -20% | -15% | -10% | $ 9,207,124.84 |
| TTM | Titan Minerals | 0.415 | -14% | -19% | 22% | 38% | 48% | $ 86,451,460.48 |
| AKA | Aureka Limited | 0.11 | 11% | -99% | -99% | -99% | -99% | $ 10,755,664.08 |
| AAM | Aumegametals | 0.043 | 16% | -23% | -31% | -25% | -9% | $ 25,569,395.72 |
| KZR | Kalamazoo Resources | 0.084 | 1% | -8% | -7% | -35% | -30% | $ 16,905,548.86 |
| BCN | Beacon Minerals | 0.022 | 0% | -4% | -21% | -27% | -12% | $ 92,980,012.22 |
| MAU | Magnetic Resources | 1.31 | 9% | 11% | 22% | 24% | 28% | $ 360,102,051.00 |
| BC8 | Black Cat Syndicate | 0.71 | -1% | 30% | 137% | 168% | 184% | $ 406,708,477.90 |
| EM2 | Eagle Mountain | 0.014 | -18% | -70% | -76% | -77% | -81% | $ 6,285,998.75 |
| EMR | Emerald Res NL | 3.655 | 0% | -11% | -1% | 36% | 21% | $ 2,444,208,910.32 |
| BYH | Bryah Resources Ltd | 0.004 | 0% | 0% | -50% | -69% | -69% | $ 2,013,147.42 |
| HCH | Hot Chili Ltd | 0.7875 | 0% | -3% | -18% | -24% | -27% | $ 116,593,746.50 |
| WAF | West African Res Ltd | 1.575 | 4% | -10% | 8% | 69% | 67% | $ 1,857,836,255.72 |
| MEU | Marmota Limited | 0.036 | -8% | -3% | -18% | -22% | -16% | $ 40,203,399.02 |
| NVA | Nova Minerals Ltd | 0.245 | 7% | 17% | 26% | -17% | -32% | $ 68,682,338.25 |
| SVL | Silver Mines Limited | 0.115 | 19% | 10% | -34% | -36% | -28% | $ 173,424,169.56 |
| PGD | Peregrine Gold | 0.13 | -10% | -13% | -51% | -53% | -46% | $ 8,824,194.73 |
| ICL | Iceni Gold | 0.062 | 15% | 35% | -27% | 3% | 19% | $ 17,199,098.65 |
| FG1 | Flynngold | 0.028 | -3% | -15% | 8% | -50% | -38% | $ 7,316,861.16 |
| WWI | West Wits Mining Ltd | 0.0145 | -3% | 4% | 12% | 21% | 21% | $ 35,598,175.40 |
| RMLDA | Resolution Minerals | 0.013 | -19% | 8% | -19% | -46% | -46% | $ 2,616,285.44 |
| AAJ | Aruma Resources Ltd | 0.014 | -7% | -22% | -22% | -55% | -48% | $ 3,108,814.41 |
| AL8 | Alderan Resource Ltd | 0.026 | -13% | -35% | -42% | -51% | -42% | $ 4,964,165.67 |
| GMN | Gold Mountain Ltd | 0.002 | 0% | 0% | -33% | -64% | -64% | $ 7,814,946.37 |
| MEG | Megado Minerals Ltd | 0.014 | 17% | -2% | 34% | -41% | -58% | $ 4,382,825.94 |
| HMG | Hamelingoldlimited | 0.066 | 8% | -26% | -27% | -20% | -16% | $ 10,434,600.00 |
| BM8 | Battery Age Minerals | 0.12 | 33% | 26% | -29% | -35% | -37% | $ 12,212,896.80 |
| TBR | Tribune Res Ltd | 4.45 | -6% | -9% | 27% | 67% | 51% | $ 233,482,942.65 |
| FML | Focus Minerals Ltd | 0.17 | -6% | -11% | 10% | -6% | -8% | $ 48,714,969.65 |
| VRC | Volt Resources Ltd | 0.004 | 33% | 0% | -11% | -33% | -38% | $ 12,476,034.38 |
| ARV | Artemis Resources | 0.009 | -10% | -25% | -36% | -57% | -53% | $ 19,168,824.26 |
| HRN | Horizon Gold Ltd | 0.39 | -15% | -7% | 44% | 37% | 30% | $ 61,556,967.28 |
| CLA | Celsius Resource Ltd | 0.011 | 0% | 5% | 10% | -12% | -8% | $ 28,281,269.51 |
| QML | Qmines Limited | 0.061 | -15% | -8% | -2% | -28% | -26% | $ 21,309,718.87 |
| RDN | Raiden Resources Ltd | 0.0115 | -32% | -67% | -70% | -68% | -71% | $ 35,882,713.59 |
| TCG | Turaco Gold Limited | 0.3175 | -1% | 2% | 55% | 165% | 144% | $ 263,572,656.32 |
| KCC | Kincora Copper | 0.033 | -6% | -8% | -41% | 18% | -20% | $ 7,593,310.27 |
| GBZ | GBM Rsources Ltd | 0.009 | 29% | 13% | -18% | -31% | 0% | $ 8,675,166.67 |
| DTM | Dart Mining NL | 0.011 | 0% | -8% | -45% | -29% | -29% | $ 5,661,944.68 |
| MKR | Manuka Resources. | 0.033 | -6% | -21% | -18% | -34% | -57% | $ 28,376,868.42 |
| AUC | Ausgold Limited | 0.41 | -2% | -25% | 17% | 28% | 28% | $ 144,293,994.54 |
| ANX | Anax Metals Ltd | 0.01 | 0% | -9% | -72% | -62% | -67% | $ 8,714,349.42 |
| EMU | EMU NL | 0.028 | 0% | 4% | -5% | 2% | 2% | $ 4,101,977.24 |
| SFM | Santa Fe Minerals | 0.029 | 0% | -3% | -28% | -33% | -33% | $ 2,111,744.88 |
| SSR | SSR Mining Inc. | 9.38 | 7% | 2% | 32% | -47% | -41% | $ 34,737,105.48 |
| PNR | Pantoro Limited | 0.099 | -1% | -18% | 10% | 90% | 74% | $ 645,403,051.40 |
| CMM | Capricorn Metals | 6.845 | 6% | 11% | 47% | 54% | 45% | $ 2,868,300,927.70 |
| X64 | Ten Sixty Four Ltd | 0.57 | 0% | 0% | 0% | 0% | 0% | $ 129,844,903.32 |
| SI6DB | SI6 Metals Limited | 0.022 | 10% | 10% | -56% | -82% | -78% | $ 4,023,568.03 |
| HAW | Hawthorn Resources | 0.042 | -13% | -29% | -40% | -57% | -55% | $ 14,070,655.75 |
| BGD | Bartongoldholdings | 0.27 | 2% | -10% | -5% | 8% | 2% | $ 56,851,319.72 |
| SVY | Stavely Minerals Ltd | 0.0215 | 2% | -26% | -49% | -60% | -52% | $ 11,424,883.95 |
| AGC | AGC Ltd | 0.185 | -5% | -27% | -46% | 164% | 161% | $ 48,753,472.18 |
| RGL | Riversgold | 0.0035 | 17% | 17% | -50% | -78% | -71% | $ 5,696,119.08 |
| TSO | Tesoro Gold Ltd | 0.026 | 4% | -7% | -32% | -7% | -10% | $ 35,728,522.94 |
| GUE | Global Uranium | 0.061 | 5% | -18% | -34% | -38% | -38% | $ 16,472,608.57 |
| CPM | Coopermetalslimited | 0.046 | 2% | 0% | -48% | -87% | -86% | $ 3,682,715.55 |
| MM8 | Medallion Metals. | 0.088 | -1% | 7% | 80% | 31% | 35% | $ 34,271,584.37 |
| FFM | Firefly Metals Ltd | 1.05 | -3% | -19% | 52% | 94% | 67% | $ 606,113,941.15 |
| CBY | Canterbury Resources | 0.021 | -5% | -30% | -53% | -30% | -16% | $ 3,948,817.92 |
| LYN | Lycaonresources | 0.195 | -13% | -19% | -20% | 26% | -3% | $ 10,332,040.49 |
| SFR | Sandfire Resources | 10.16 | -2% | -3% | 15% | 65% | 38% | $ 4,692,554,124.39 |
| TMZDA | Thomson Res Ltd | 0.06 | 0% | 0% | 0% | 0% | 0% | $ 4,881,018.48 |
| TAM | Tanami Gold NL | 0.029 | 4% | -3% | -15% | -24% | -17% | $ 34,077,814.33 |
| NWM | Norwest Minerals | 0.02 | 5% | 11% | -31% | -33% | -26% | $ 9,702,390.20 |
| ALK | Alkane Resources Ltd | 0.4975 | 5% | -9% | -8% | -27% | -24% | $ 314,881,783.84 |
| BMO | Bastion Minerals | 0.005 | 0% | -29% | -29% | -67% | -72% | $ 4,223,623.32 |
| IDA | Indiana Resources | 0.065 | 8% | 8% | 55% | 99% | 49% | $ 38,155,455.92 |
| GSM | Golden State Mining | 0.009 | 13% | -10% | -18% | -50% | -40% | $ 2,234,965.04 |
| NSM | Northstaw | 0.018 | 20% | 50% | -21% | -66% | -56% | $ 4,908,177.00 |
| GSN | Great Southern | 0.016 | -6% | 7% | -16% | -16% | -16% | $ 13,545,339.17 |
| VAU | Vault Minerals Ltd | 0.3475 | 2% | -7% | -20% | -3% | 12% | $ 2,414,878,050.61 |
| DEG | De Grey Mining | 1.8975 | 27% | 30% | 74% | 40% | 53% | $ 4,577,806,834.55 |
| THR | Thor Energy PLC | 0.014 | 8% | -13% | -18% | -55% | -53% | $ 3,346,539.88 |
| CDR | Codrus Minerals Ltd | 0.016 | -11% | -30% | -69% | -71% | -71% | $ 2,646,200.06 |
| MDI | Middle Island Res | 0.015 | -6% | -17% | 7% | -6% | -6% | $ 4,096,390.88 |
| WTM | Waratah Minerals Ltd | 0.15 | -14% | -48% | 50% | 295% | 25% | $ 32,341,999.84 |
| POL | Polymetals Resources | 0.9 | 32% | 29% | 181% | 181% | 190% | $ 172,373,471.60 |
| RDS | Redstone Resources | 0.003 | 0% | 0% | -14% | -50% | -50% | $ 2,776,135.38 |
| NAG | Nagambie Resources | 0.024 | 9% | 50% | 167% | -20% | -17% | $ 19,119,256.25 |
| BGL | Bellevue Gold Ltd | 1.3475 | 6% | -12% | -29% | -26% | -20% | $ 1,695,998,657.78 |
| GBR | Greatbould Resources | 0.047 | 12% | 4% | -22% | -35% | -28% | $ 36,426,633.02 |
| KAI | Kairos Minerals Ltd | 0.014 | -7% | -22% | 27% | -7% | 0% | $ 34,201,858.46 |
| KAU | Kaiser Reef | 0.1575 | 2% | -17% | 5% | -13% | -7% | $ 38,922,136.80 |
| HRZ | Horizon | 0.041 | -2% | -11% | -18% | 3% | -2% | $ 55,757,138.31 |
| CAI | Calidus Resources | 0.115 | 0% | 0% | -8% | -41% | -47% | $ 93,678,205.58 |
| CDT | Castle Minerals | 0.002 | -20% | -33% | -60% | -79% | -79% | $ 3,345,628.21 |
| RSG | Resolute Mining | 0.4225 | 2% | -45% | -21% | -4% | -5% | $ 915,491,505.59 |
| MXR | Maximus Resources | 0.043 | 2% | 8% | 43% | 2% | 26% | $ 17,972,963.02 |
| EVN | Evolution Mining Ltd | 5.065 | 2% | -1% | 31% | 22% | 28% | $ 10,245,115,111.00 |
| CXU | Cauldron Energy Ltd | 0.0155 | -3% | 19% | -53% | 6% | -34% | $ 21,920,513.58 |
| DLI | Delta Lithium | 0.17 | -8% | -28% | -31% | -61% | -64% | $ 125,394,813.60 |
| ALY | Alchemy Resource Ltd | 0.006 | -14% | -14% | -14% | -40% | -40% | $ 7,068,457.54 |
| NH3 | Nh3Cleanenergyltd | 0.021 | 0% | -5% | 17% | 133% | 75% | $ 10,771,233.92 |
| OBM | Ora Banda Mining Ltd | 0.6775 | -3% | -21% | 112% | 182% | 182% | $ 1,316,056,258.30 |
| AVW | Avira Resources Ltd | 0.001 | 0% | 0% | 0% | -50% | -50% | $ 2,938,790.00 |
| LCY | Legacy Iron Ore | 0.01 | -9% | -20% | -26% | -39% | -39% | $ 97,620,425.84 |
| PDI | Predictive Disc Ltd | 0.25 | 4% | -7% | 32% | 11% | 19% | $ 611,234,515.58 |
| MAT | Matsa Resources | 0.043 | 5% | 2% | 54% | 65% | 65% | $ 27,953,762.63 |
| ZAG | Zuleika Gold Ltd | 0.016 | 0% | 0% | -20% | -16% | -11% | $ 11,854,078.83 |
| GML | Gateway Mining | 0.024 | -8% | -14% | -23% | 0% | -4% | $ 9,491,026.20 |
| SBM | St Barbara Limited | 0.3425 | 2% | 1% | 52% | 76% | 63% | $ 307,913,714.14 |
| SBR | Sabre Resources | 0.01 | -9% | -17% | -41% | -66% | -70% | $ 4,322,581.26 |
| STK | Strickland Metals | 0.088 | 16% | 22% | -20% | -47% | -7% | $ 189,837,667.81 |
| ION | Iondrive Limited | 0.018 | 50% | 38% | 80% | 50% | 50% | $ 14,170,150.02 |
| CEL | Challenger Gold Ltd | 0.05 | 11% | -9% | -25% | -32% | -32% | $ 75,077,861.05 |
| LRL | Labyrinth Resources | 0.2425 | -5% | -3% | 762% | 475% | 393% | $ 135,653,317.09 |
| NST | Northern Star | 16.315 | -6% | -8% | 14% | 32% | 20% | $ 19,004,290,752.33 |
| OZM | Ozaurum Resources | 0.031 | 0% | -18% | -31% | -70% | -79% | $ 5,080,000.00 |
| TG1 | Techgen Metals Ltd | 0.0345 | 5% | 11% | 8% | -57% | -56% | $ 5,394,634.14 |
| XAM | Xanadu Mines Ltd | 0.055 | 12% | -4% | -8% | 6% | -7% | $ 100,430,330.72 |
| AQI | Alicanto Min Ltd | 0.039 | 8% | 5% | 150% | -5% | 18% | $ 29,925,718.48 |
| KTA | Krakatoa Resources | 0.011 | 10% | 10% | -31% | -71% | -69% | $ 5,193,179.42 |
| ARN | Aldoro Resources | 0.26 | 192% | 213% | 282% | 213% | 108% | $ 21,539,798.88 |
| WGX | Westgold Resources. | 2.88 | 1% | -8% | 27% | 36% | 32% | $ 2,801,035,779.30 |
| MBK | Metal Bank Ltd | 0.018 | 6% | 7% | -27% | -39% | -33% | $ 8,785,338.89 |
| A8G | Australasian Metals | 0.084 | 9% | -7% | 5% | -51% | -51% | $ 4,378,121.50 |
| TAR | Taruga Minerals | 0.0105 | 5% | 5% | 31% | -5% | -5% | $ 7,060,267.85 |
| DTR | Dateline Resources | 0.003 | -14% | -25% | -77% | -70% | -70% | $ 7,548,781.41 |
| GOR | Gold Road Res Ltd | 2.09 | 12% | 9% | 29% | 9% | 6% | $ 2,243,923,656.30 |
| S2R | S2 Resources | 0.062 | -11% | -18% | -50% | -67% | -62% | $ 29,435,769.55 |
| NES | Nelson Resources. | 0.003 | 50% | 50% | -14% | -25% | -25% | $ 6,515,782.98 |
| TLM | Talisman Mining | 0.235 | 7% | 4% | -13% | 21% | 0% | $ 42,372,078.53 |
| BEZ | Besragoldinc | 0.065 | 0% | -20% | -33% | -58% | -57% | $ 25,760,314.96 |
| PRU | Perseus Mining Ltd | 2.745 | 5% | -2% | 17% | 43% | 48% | $ 3,852,845,161.20 |
| SPQ | Superior Resources | 0.007 | -7% | 0% | -12% | -65% | -46% | $ 15,189,046.59 |
| PURDD | Pursuit Minerals | 0.14 | 12% | 12% | -30% | -65% | -65% | $ 10,179,120.00 |
| RMS | Ramelius Resources | 2.28 | 9% | -2% | 18% | 37% | 35% | $ 2,644,948,804.62 |
| PKO | Peako Limited | 0.003 | 0% | 0% | -22% | -22% | -22% | $ 3,285,424.60 |
| ICG | Inca Minerals Ltd | 0.005 | -17% | -17% | -29% | -52% | -52% | $ 5,133,612.67 |
| A1G | African Gold Ltd. | 0.056 | 6% | -33% | 115% | 88% | 143% | $ 20,815,033.12 |
| NMG | New Murchison Gold | 0.0105 | -5% | 5% | 110% | 75% | 50% | $ 81,303,053.15 |
| GNM | Great Northern | 0.015 | 7% | 15% | 25% | -25% | -25% | $ 2,319,436.16 |
| KRM | Kingsrose Mining Ltd | 0.036 | -3% | -5% | -27% | -14% | -12% | $ 28,634,007.72 |
| BTR | Brightstar Resources | 0.029 | 21% | 21% | 107% | 107% | 81% | $ 206,849,026.60 |
| RRL | Regis Resources | 2.705 | 4% | 3% | 51% | 41% | 24% | $ 2,039,789,881.80 |
| M24 | Mamba Exploration | 0.011 | 0% | -15% | -42% | -63% | -78% | $ 2,068,905.04 |
| TRM | Truscott Mining Corp | 0.078 | 4% | 0% | 24% | 28% | 43% | $ 14,932,987.68 |
| TNC | True North Copper | 0.03 | 0% | 0% | -46% | -73% | -69% | $ 26,264,705.94 |
| MOM | Moab Minerals Ltd | 0.003 | -25% | -25% | -25% | -57% | -57% | $ 2,678,576.12 |
| KNB | Koonenberrygold | 0.013 | -13% | -24% | -28% | -38% | -66% | $ 11,365,737.16 |
| AWJ | Auric Mining | 0.35 | 15% | 1% | 100% | 407% | 192% | $ 49,798,879.29 |
| ENR | Encounter Resources | 0.345 | -8% | -4% | -3% | 17% | 19% | $ 158,997,318.90 |
| SNG | Siren Gold | 0.064 | 8% | -16% | -20% | 28% | -6% | $ 14,233,089.59 |
| STN | Saturn Metals | 0.215 | -4% | -23% | -7% | 39% | 26% | $ 71,043,523.32 |
| USL | Unico Silver Limited | 0.205 | 11% | -33% | 46% | 71% | 64% | $ 91,968,188.55 |
| PNM | Pacific Nickel Mines | 0.024 | 0% | 0% | -17% | -73% | -71% | $ 10,103,834.52 |
| AYM | Australia United Min | 0.002 | 0% | -33% | -33% | 0% | -33% | $ 3,685,154.97 |
| ANL | Amani Gold Ltd | 0.001 | 0% | 0% | 0% | 0% | 0% | $ 23,229,097.01 |
| HAV | Havilah Resources | 0.23 | 19% | 18% | 21% | -16% | 18% | $ 78,028,948.08 |
| SPR | Spartan Resources | 1.5725 | 12% | 4% | 114% | 226% | 204% | $ 1,746,985,115.61 |
| PNT | Panthermetalsltd | 0.017 | 0% | -26% | -46% | -57% | -60% | $ 4,000,926.85 |
| MEK | Meeka Metals Limited | 0.081 | 13% | 17% | 131% | 103% | 103% | $ 202,958,160.87 |
| GMD | Genesis Minerals | 2.595 | 3% | 15% | 42% | 37% | 45% | $ 2,968,081,963.25 |
| PGO | Pacgold | 0.081 | -5% | -9% | -42% | -60% | -57% | $ 10,647,801.38 |
| FEG | Far East Gold | 0.16 | -3% | -11% | 33% | 0% | 28% | $ 49,535,440.33 |
| MI6 | Minerals260Limited | 0.12 | -8% | -8% | -27% | -59% | -63% | $ 28,080,000.00 |
| IGO | IGO Limited | 5.01 | 4% | -7% | -27% | -33% | -45% | $ 3,756,048,352.48 |
| GAL | Galileo Mining Ltd | 0.11 | -4% | -23% | -59% | -60% | -61% | $ 21,738,741.97 |
| RXL | Rox Resources | 0.18 | 20% | 0% | 16% | -12% | -2% | $ 95,261,347.93 |
| PTN | Patronus Resources | 0.056 | -8% | -15% | -3% | -16% | -16% | $ 91,694,277.02 |
| CLZ | Classic Min Ltd | 0.001 | 0% | 0% | -67% | -98% | -98% | $ 1,544,025.56 |
| TGM | Theta Gold Mines Ltd | 0.175 | 0% | 0% | 25% | 40% | 52% | $ 144,402,866.42 |
| FAL | Falconmetalsltd | 0.14 | 0% | -13% | -48% | -3% | -3% | $ 24,780,000.00 |
| SXG | Southern Cross Gold | 3.25 | 8% | 3% | 16% | 216% | 158% | $ 619,153,404.48 |
| SPD | Southernpalladium | 0.635 | -9% | -18% | 44% | 90% | 69% | $ 59,117,500.00 |
| ORN | Orion Minerals Ltd | 0.015 | 0% | -17% | -17% | 7% | 7% | $ 102,574,202.22 |
| TMB | Tambourahmetals | 0.026 | -7% | -7% | -64% | -82% | -77% | $ 2,985,931.24 |
| TMS | Tennant Minerals Ltd | 0.011 | -8% | -15% | -52% | -69% | -67% | $ 8,603,013.74 |
| AZY | Antipa Minerals Ltd | 0.026 | 18% | 4% | 100% | 73% | 53% | $ 121,225,661.95 |
| PXX | Polarx Limited | 0.009 | 29% | 13% | -25% | 32% | 32% | $ 19,004,007.82 |
| TRE | Toubani Res Ltd | 0.165 | 0% | -40% | -3% | 14% | 14% | $ 37,778,393.24 |
| AUN | Aurumin | 0.065 | 12% | 7% | 71% | 171% | 150% | $ 28,256,081.13 |
| GPR | Geopacific Resources | 0.024 | 4% | -25% | 9% | 23% | 20% | $ 26,027,593.26 |
| FXG | Felix Gold Limited | 0.092 | 42% | 7% | 64% | 84% | 88% | $ 31,222,302.52 |
| ILT | Iltani Resources Lim | 0.145 | -6% | -36% | -52% | 0% | -9% | $ 6,601,575.75 |
| BRX | Belararoxlimited | 0.16 | -16% | -32% | -24% | -54% | -48% | $ 21,590,319.60 |
| TM1 | Terra Metals Limited | 0.029 | -6% | -33% | -34% | -36% | -37% | $ 11,519,406.39 |
| TOR | Torque Met | 0.049 | 11% | -26% | -76% | -72% | -78% | $ 12,233,532.37 |
| ARD | Argent Minerals | 0.02 | 18% | -26% | 5% | 82% | 122% | $ 31,804,090.56 |
Gold and precious metals standouts
Felix Gold boasts 831,000oz of the precious metal in two deposits located only a few klicks from Kinross Gold’s Fort Knox, on track to produce over 300,000oz this year but increasingly reliant on satellite deposits to maintain production.
But its powerful run this week has come off the back of the Scrafford antimony mine, which the ASX-listed, Alaskan focused junior thinks it could bring back to life by the end of next year.
Antimony stocks all over the western world received a boost from a declaration on Tuesday by China that it would no longer supply gallium, germanium or antimony to the United States in a counter to controls on the export of computer chips by their Trade War sparring partner.
Prices of the commodity, critical to the US military due to its use in munitions, have gone up ~200% this year with China also trying to constrain exports to protect waning reserves at home.
Scrafford produced over a tonne historically at grades of between 38-56% Sb, and historically reported grades as high as 58% Sb from rocks at the project.
READ: China’s latest critical mineral export restrictions more than a chest puff
Polymetals Resources (ASX:POL)
Polymetals says first cashflow from its Endeavor mine in New South Wales’ Cobar region is due to deliver first cashflow in the first half of 2025.
In a release this week the silver junior said it’s “making Endeavor great again”, trying to latch onto the popularity of Donald Trump in one of the stranger headlines we assume has crossed the desk of the ASX compliance team this week.
The mine was placed on care and maintenance in 2020 after 38 years producing 32Mt of ore containing silver, lead and zinc.
Having acquired the mine last year, activities to revive the ops are now getting closer, with underground mining equipment heading to site ahead of Chrissy.
With silver also re-emerging as one of the top performing commodities in 2024, POL shares are up close to 200% this year.
At Stockhead, we tell it like it is. While Felix Gold is a Stockhead advertiser, it did not sponsor this article.
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