Small cap gold stocks are driving global exploration – and their share prices show it
Mining
Gold explorers — particularly small caps — were the mining industry’s heavy-lifters last year and the results can be seen in big share price jumps driven by all that “news flow”.
See below how 200 ASX gold stocks have fared over the past year.
After four years of declining investment, the global mining industry marked a 14 per cent increase in non-ferrous (non-iron) exploration to nearly $US8 billion ($10.3 billion) last year, according to S&P Global Market Intelligence.
Gold explorers accounted for 73 per cent of the increase.
They spent $US4.1 billion globally — a jump of 22 per cent over 2016 – to account for more than half the global exploration budget.
Across all sectors, it was the mainly the small guys injecting cash into exploration, while the majors continued to allocate only a small part of their revenue on finding more minerals, S&P found.
That paid off handsomely for many ASX-listed small cap gold explorers.
Among the top 30 best performing ASX gold stocks tracked by Stockhead (see table below), only one — Kidman Resources — has a market cap of more than $300 million.
King River Copper – profiled this week by Stockhead columnist Tim Treadgold — is the king of ASX gold small caps with a 612 per cent share price hike over the past year. It has a market cap of $68 million.
Draig Resources has soared 580 per cent, Riedel has gained 426 per cent and Moreton Resources is up 267 per cent.
The trio has a combined value of less than $150 million.
Other small gold explorers Anglo Australian Resources, Apollo Consolidated, BBX Minerals and Force Commodities have also delighted shareholders with a tripling – or better – of their shares.
More dollars = more drilling
Across all mining sectors, improved equity market support for explorers “allowed many companies to launch or resume drill programs on their most promising projects,” said Mark Ferguson, associate research director at S&P Global Market Intelligence.
“In the last quarter of 2017, there was a sharp increase in reported drill results, and financings closed the year on a high note. As a result, our year-end measure of exploration sector activity reached levels not seen since early 2013.”
From 2012 to 2016, the major producers slashed exploration spending at a faster pace than their revenues declined, S&P Global noted.
This drove their ratio of exploration spend to revenue down to a 12-year low of 1.8 per cent in 2016, from 3.2 per cent in 2012.
Although the group’s exploration budgets for 2017 increased, rising revenues for the year will likely result in little change to the 2017 ratio, S&P Global said.
Majors leave the exploring to juniors
“The majors are now returning to the model of investing in juniors as their exploration arms and then acquiring or investing in those juniors,” Jason Stirbinskis, managing director of Columbia-focused gold explorer Andes Resources told Stockhead recently.
“You are seeing a lot of the majors coming in and grabbing large stakes in the juniors in the country.”
Andes is raising $2 million in seed capital and will soon begin drilling on an 80,000 hectare gold and copper-prospective landholding in Colombia. The company is aiming for an ASX listing later this year.
In late 2016, heavyweights BHP Billiton (ASX:BHP) and Newcrest Mining (ASX:NCM) fought for a stake in SolGold’s (AIM:SOLG) Cascabel copper-gold project in Ecuador. Newcrest was the victor, now owning a 14.5 per cent stake in the project.
Brisbane-based SolGold is listed on London’s AIM exchange and has a market cap of £374 million ($665.6 million).
Newcrest, however, has not been one of the better performing stocks over the past year, losing 0.5 a per cent to trade at $21.72 on Tuesday.
Here’s a table showing how 200+ ASX gold stocks have fared over the past year. Search or scroll to reveal more.
ASX Code | Name | 1-year change (Mar 1 - Mar 6) | Price Mar 6, 2018 | Price Mar 1, 2017 | Market Cap | 52wk High | 52wk Low |
---|---|---|---|---|---|---|---|
SMC | STRATEGIC MINERALS | Suspended | 0.2984 | 0.41 | 0.28 | ||
SBU | SIBURAN RESOURCES | -0.4545454545 | 0.006 | 0.011 | 4186992.5 | 0.011 | 0.002 |
NUS | NUSANTARA RESOURCES (listed Aug 2, 2017) | -0.3333333333 | 0.28 | 0.42 | 27308894 | 0.45 | 0.25 |
NMM | NOBLE METALS | Suspended | 0.12 | 0.155 | 0.03 | ||
NMI | NORTHERN MINING | Suspended | 0.017 | 0.024 | 0.009 | ||
NMG | NMG CORP | Suspended | 0.008 | 0.011 | 0.006 | ||
MZZ | MATADOR MINING (listed Mar 6, 2017) | 0.3 | 0.26 | 0.2 | 6201000.5 | 0.46 | 0.19 |
MAG | MAGMATIC RESOURCES (listed May 19, 2017) | -0.45 | 0.11 | 0.2 | 8827500 | 0.2 | 0.1 |
EGS | EASTERN GOLDFIELDS | Suspended | 0.35 | 0.535 | 0.18 | ||
E2M | E2 METALS (listed Apr 19, 2017) | -0.45 | 0.11 | 0.2 | 6677873 | 0.17 | 0.1 |
CVR | CENTRAL ASIA RESOURCES | Suspended | 0.021 | 0.001 | |||
CDG | CLEVELAND MINING | Suspended | 0.079 | 0.03 | |||
KRC | KING RIVER COPPER | 6.125 | 0.057 | 0.008 | 67887776 | 0.075 | 0.004 |
DRG | DRAIG RESOURCES | 5.833333333 | 0.205 | 0.03 | 74350608 | 0.3 | 0.028 |
RIE | RIEDEL RESOURCES | 4.263157895 | 0.07 | 0.0133 | 29264878 | 0.105 | 0.0095 |
KDR | KIDMAN RESOURCES | 3.072164948 | 1.975 | 0.485 | 693280064 | 2.23 | 0.335 |
MRV | MORETON RESOURCES | 2.666666667 | 0.011 | 0.003 | 30381576 | 0.019 | 0.0035 |
AAR | ANGLO AUSTRALIAN RESOURCES | 2.545454545 | 0.078 | 0.022 | 22556976 | 0.11 | 0.02 |
AOP | APOLLO CONSOLIDATED | 2.1875 | 0.255 | 0.08 | 39061340 | 0.325 | 0.053 |
BBX | BBX MINERALS | 2.153846154 | 0.205 | 0.065 | 79092456 | 0.4 | 0.06 |
4CE | FORCE COMMODITIES | 2.064516129 | 0.095 | 0.031 | 39892008 | 0.17 | 0.016 |
NTL | NEW TALISMAN GOLD MINES | 1.6 | 0.013 | 0.005 | 28138542 | 0.029 | 0.004 |
LSR | LODESTAR MINERALS | 1.6 | 0.026 | 0.01 | 16530497 | 0.037 | 0.007 |
MAU | MAGNETIC RESOURCES | 1.571428571 | 0.18 | 0.07 | 26697906 | 0.34 | 0.06 |
HAW | HAWTHORN RESOURCES | 1.5 | 0.07 | 0.028 | 22488592 | 0.115 | 0.026 |
OGX | ORINOCO GOLD | 1.490039841 | 0.125 | 0.0502 | 115385640 | 0.13 | 0.019 |
CYL | CATALYST METALS | 1.448979592 | 1.2 | 0.49 | 84951184 | 1.4 | 0.43 |
IRC | INTERMIN RESOURCES | 1.35 | 0.235 | 0.1 | 53571108 | 0.25 | 0.085 |
MAR | MALACHITE RESOURCES | 1.333333333 | 0.007 | 0.003 | 9485614 | 0.008 | 0.003 |
OKU | OKLO RESOURCES | 1.2 | 0.44 | 0.2 | 130225664 | 0.5 | 0.19 |
RTR | RUMBLE RESOURCES | 1 | 0.052 | 0.026 | 18374802 | 0.094 | 0.021 |
BSX | BLACKSTONE MINERALS | 1 | 0.4 | 0.2 | 38726000 | 0.655 | 0.165 |
CTM | CENTAURUS METALS | 0.9230769231 | 0.0125 | 0.0065 | 24884120 | 0.018 | 0.003 |
NAG | NAGAMBIE RESOURCES | 0.9166666667 | 0.115 | 0.06 | 46452628 | 0.12 | 0.023 |
WAF | WEST AFRICAN RESOURCES | 0.9069767442 | 0.41 | 0.215 | 235385888 | 0.475 | 0.18 |
DEG | DE GREY MINING | 0.8939393939 | 0.125 | 0.066 | 39119456 | 0.38 | 0.034 |
PSC | PROSPECT RESOURCES | 0.875 | 0.045 | 0.024 | 83464624 | 0.077 | 0.02 |
GMD | GENESIS MINERALS | 0.8571428571 | 0.039 | 0.021 | 30181780 | 0.051 | 0.014 |
EXG | EXCELSIOR GOLD | 0.8076923077 | 0.047 | 0.026 | 40104648 | 0.062 | 0.021 |
AIV | ACTIVEX | 0.7777777778 | 0.16 | 0.09 | 28356544 | 0.21 | 0.083 |
NML | NAVARRE MINERALS | 0.7307692308 | 0.09 | 0.052 | 25097862 | 0.15 | 0.028 |
GBR | GREAT BOULDER RESOURCES | 0.6774193548 | 0.26 | 0.155 | 18356222 | 0.71 | 0.096 |
MZM | MONTEZUMA MINING | 0.6666666667 | 0.3 | 0.18 | 27543236 | 0.35 | 0.125 |
DGO | DGO GOLD | 0.6508114158 | 0.59 | 0.3574 | 6336824.5 | 2.45 | 0.21 |
ARV | ARTEMIS RESOURCES | 0.64 | 0.205 | 0.125 | 119050848 | 0.595 | 0.055 |
SBM | ST BARBARA | 0.5984251969 | 4.06 | 2.54 | 2108097152 | 4.23 | 2.21 |
EAR | ECHO RESOURCES | 0.5789473684 | 0.3 | 0.19 | 146593920 | 0.41 | 0.1 |
NST | NORTHERN STAR RESOURCES | 0.5750605327 | 6.505 | 4.13 | 3860300544 | 6.5 | 3.74 |
DCN | DACIAN GOLD | 0.5743589744 | 3.07 | 1.95 | 627826688 | 3.18 | 1.5 |
SAR | SARACEN MINERAL HOLDINGS | 0.5714285714 | 1.705 | 1.085 | 1365586048 | 1.7925 | 0.87 |
PMY | PACIFICO MINERALS | 0.5714285714 | 0.011 | 0.007 | 9647701 | 0.014 | 0.004 |
EXU | EXPLAURUM | 0.5714285714 | 0.11 | 0.07 | 51998356 | 0.17 | 0.06 |
AUC | AUSGOLD | 0.5555555556 | 0.049 | 0.0315 | 28280328 | 0.061 | 0.0201 |
GOR | GOLD ROAD RESOURCES | 0.5339805825 | 0.79 | 0.515 | 701672320 | 0.845 | 0.51 |
DKM | DUKETON MINING | 0.5 | 0.24 | 0.16 | 24792998 | 0.275 | 0.1 |
PNR | PANTORO | 0.4651162791 | 0.315 | 0.215 | 251221376 | 0.33 | 0.17 |
PRU | PERSEUS MINING | 0.4166666667 | 0.425 | 0.3 | 429125216 | 0.475 | 0.27 |
CDV | CARDINAL RESOURCES | 0.4024390244 | 0.575 | 0.41 | 215488016 | 0.745 | 0.375 |
IGO | INDEPENDENCE GROUP | 0.4016853933 | 4.99 | 3.56 | 2893039616 | 5.23 | 2.84 |
MCR | MINCOR RESOURCES | 0.387755102 | 0.34 | 0.245 | 74846976 | 0.45 | 0.13 |
MML | MEDUSA MINING | 0.3823529412 | 0.47 | 0.34 | 96624352 | 0.5175 | 0.27 |
AGS | ALLIANCE RESOURCES | 0.3793103448 | 0.12 | 0.087 | 13036740 | 0.18 | 0.074 |
AMI | AURELIA METALS | 0.3773584906 | 0.365 | 0.265 | 312395968 | 0.405 | 0.155 |
EVN | EVOLUTION MINING | 0.3425925926 | 2.9 | 2.16 | 4857796608 | 2.94 | 1.89 |
RRL | REGIS RESOURCES | 0.3358208955 | 4.475 | 3.35 | 2249310208 | 4.5 | 2.98 |
RND | RAND MINING | 0.32 | 2.64 | 2 | 169618704 | 3.2 | 1.95 |
SPI | SPITFIRE MATERIALS | 0.3125 | 0.105 | 0.08 | 52106880 | 0.18 | 0.07 |
KCN | KINGSGATE CONSOLIDATED | 0.2678571429 | 0.355 | 0.28 | 81608504 | 0.54 | 0.185 |
KAI | KAIROS MINERALS | 0.2580645161 | 0.039 | 0.031 | 31797392 | 0.135 | 0.011 |
KIN | KIN MINING | 0.248164464 | 0.255 | 0.2043 | 56443536 | 0.4485 | 0.1794 |
OVR | OVERLAND RESOURCES | 0.2037037037 | 0.013 | 0.0108 | 6900510 | 0.016 | 0.005 |
WFE | WINMAR RESOURCES | 0.2 | 0.006 | 0.005 | 11986166 | 0.008 | 0.001 |
SFR | SANDFIRE RESOURCES | 0.1957878315 | 7.665 | 6.41 | 1180107136 | 7.89 | 5.25 |
ARX | ARC EXPLORATION | 0.1794276875 | 0.61 | 0.5172 | 3843223.25 | 0.66 | 0.4976 |
KGD | KULA GOLD | 0.1711711712 | 0.026 | 0.0222 | 9015793 | 0.033 | 0.019 |
KOR | KORAB RESOURCES | 0.1666666667 | 0.028 | 0.024 | 8311967.5 | 0.04 | 0.016 |
RED | RED 5 | 0.1639344262 | 0.071 | 0.061 | 86848512 | 0.077 | 0.029 |
MDI | MIDDLE ISLAND RESOURCES | 0.1578947368 | 0.022 | 0.019 | 15353832 | 0.033 | 0.013 |
MGV | MUSGRAVE MINERALS | 0.1571428571 | 0.081 | 0.07 | 22598956 | 0.105 | 0.059 |
HIG | HIGHLANDS PACIFIC | 0.1571428571 | 0.081 | 0.07 | 71265248 | 0.12 | 0.055 |
BOC | BOUGAINVILLE COPPER | 0.1428571429 | 0.2 | 0.175 | 80212496 | 0.42 | 0.17 |
BCN | BEACON MINERALS | 0.1392405063 | 0.018 | 0.0158 | 36251304 | 0.0241 | 0.0149 |
CHZ | CHESSER RESOURCES | 0.1337868481 | 0.05 | 0.0441 | 9934159 | 0.077 | 0.039 |
GMN | GOLD MOUNTAIN | 0.1304347826 | 0.13 | 0.115 | 72119976 | 0.165 | 0.075 |
BGH | BLIGH RESOURCES | 0.1214953271 | 0.036 | 0.0321 | 10292836 | 0.0379 | 0.01 |
MSR | MANAS RESOUCES | 0.1 | 0.0055 | 0.005 | 15858975 | 0.007 | 0.0025 |
XAM | XANADU MINES | 0.08695652174 | 0.25 | 0.23 | 147171824 | 0.345 | 0.17 |
CAV | CARNAVALE RESOURCES | 0.07142857143 | 0.015 | 0.014 | 9151993 | 0.027 | 0.008 |
OZL | OZ MINERALS | 0.05731441048 | 9.685 | 9.16 | 2834328576 | 9.99 | 6.31 |
REZ | RESOURCES & ENERGY GROUP | 0.05 | 0.105 | 0.1 | 10305104 | 0.15 | 0.1 |
TRM | TRUSCOTT MINING CORP | 0.04166666667 | 0.025 | 0.024 | 2896138.5 | 0.029 | 0.018 |
SIH | SIHAYO GOLD | 0.01351351351 | 0.015 | 0.0148 | 33376726 | 0.019 | 0.0099 |
TBR | TRIBUNE RESOURCES | 0.00903614458 | 6.7 | 6.64 | 350204640 | 8.5 | 5.7 |
PIO | PIONEER RESOURCES | 0 | 0.024 | 0.024 | 35741716 | 0.046 | 0.014 |
NXM | NEXUS MINERALS | 0 | 0.089 | 0.089 | 7412238 | 0.145 | 0.065 |
MOD | MOD RESOURCES | 0 | 0.05 | 0.05 | 94837480 | 0.09 | 0.046 |
AYM | AUSTRALIA UNITED MINING | 0 | 0.003 | 0.003 | 3808598 | 0.006 | 0.001 |
NCM | NEWCREST MINING | -0.00526797984 | 21.715 | 21.83 | 16362001408 | 25.33 | 19.26 |
DTM | DART MINING | -0.01234567901 | 0.008 | 0.0081 | 5083205 | 0.015 | 0.0036 |
ALK | ALKANE RESOURCES | -0.01587301587 | 0.31 | 0.315 | 146767904 | 0.4125 | 0.215 |
VAN | VANGO MINING | -0.03389830508 | 0.057 | 0.059 | 26246416 | 0.07 | 0.039 |
LCD | LATITUDE CONSOLIDATED | -0.03448275862 | 0.028 | 0.029 | 3804191 | 0.036 | 0.013 |
EGA | EGAN STREET RESOURCES | -0.03703703704 | 0.26 | 0.27 | 21591432 | 0.34 | 0.21 |
AME | ALTO METALS | -0.0375 | 0.077 | 0.08 | 14280379 | 0.12 | 0.065 |
ADN | ANDROMEDA METALS | -0.04109589041 | 0.007 | 0.0073 | 6253453.5 | 0.0149 | 0.0039 |
AZY | ANTIPA MINERALS | -0.05263157895 | 0.018 | 0.019 | 21118486 | 0.0295 | 0.015 |
MAT | MATSA RESOURCES | -0.0537084399 | 0.185 | 0.1955 | 30165164 | 0.28 | 0.1455 |
CHN | CHALICE GOLD MINES | -0.05555555556 | 0.17 | 0.18 | 45711800 | 0.26 | 0.145 |
OGC | OCEANAGOLD CORP-CDI | -0.0597826087 | 3.46 | 3.68 | 2118866688 | 4.88 | 3.08 |
CTL | CENTENNIAL MINING | -0.07692307692 | 0.012 | 0.013 | 11921852 | 0.024 | 0.008 |
ANL | AMANI GOLD | -0.08 | 0.023 | 0.025 | 32889438 | 0.047 | 0.013 |
SUM | SUMATRA COPPER & GOLD | -0.08695652174 | 0.021 | 0.023 | 79720744 | 0.026 | 0.008 |
CVS | CERVANTES CORP | -0.1 | 0.009 | 0.01 | 3179869.75 | 0.015 | 0.007 |
SAU | SOUTHERN GOLD | -0.1052631579 | 0.255 | 0.285 | 12041885 | 0.345 | 0.235 |
GPR | GEOPACIFIC RESOURCES | -0.1052631579 | 0.034 | 0.038 | 57661028 | 0.043 | 0.022 |
DAU | DAMPIER GOLD | -0.1071428571 | 0.025 | 0.028 | 2416003.5 | 0.052 | 0.022 |
EMR | EMERALD RESOURCES | -0.1086956522 | 0.041 | 0.046 | 88672608 | 0.052 | 0.036 |
AZS | AZURE MINERALS | -0.109375 | 0.285 | 0.32 | 25089998 | 0.75 | 0.22 |
RIM | RIMFIRE PACIFIC MINING | -0.1111111111 | 0.024 | 0.027 | 21699984 | 0.037 | 0.017 |
AQG | ALACER GOLD CORP | -0.1260162602 | 2.15 | 2.46 | 631615360 | 2.88 | 1.95 |
BRB | BREAKER RESOURCES | -0.1260504202 | 0.52 | 0.595 | 75452832 | 0.8 | 0.45 |
AGG | ANGLOGOLD ASHANTI | -0.1310344828 | 2.52 | 2.9 | 5249353216 | 3.49 | 2.34 |
AQI | ALICANTO MINERALS | -0.1515837104 | 0.15 | 0.1768 | 15710844 | 0.24 | 0.115 |
AZM | AZUMAH RESOURCES | -0.1641791045 | 0.028 | 0.0335 | 18875138 | 0.037 | 0.018 |
SMG | SOON MINING | -0.1714285714 | 0.29 | 0.35 | 45884620 | 0.35 | 0.12 |
MOY | MILLENNIUM MINERALS | -0.1818181818 | 0.225 | 0.275 | 169423440 | 0.29 | 0.14 |
WRM | WHITE ROCK MINERALS | -0.1875 | 0.013 | 0.016 | 11846305 | 0.02 | 0.011 |
DRM | DORAY MINERALS | -0.1884057971 | 0.28 | 0.345 | 113007872 | 0.395 | 0.16 |
ERM | EMMERSON RESOURCES | -0.19 | 0.081 | 0.1 | 32442416 | 0.125 | 0.065 |
GCY | GASCOYNE RESOURCES | -0.1944444444 | 0.435 | 0.54 | 191268896 | 0.56 | 0.385 |
SHK | STONE RESOURCES AUSTRALIA | -0.2 | 0.004 | 0.005 | 3211508.75 | 0.006 | 0.002 |
DTR | DATELINE RESOURCES | -0.2 | 0.032 | 0.04 | 22095866 | 0.043 | 0.018 |
MBK | METAL BANK | -0.2 | 0.018 | 0.0225 | 15868975 | 0.0313 | 0.017 |
IDA | INDIANA RESOURCES | -0.2140641158 | 0.076 | 0.0967 | 4959431.5 | 0.145 | 0.0483 |
ABU | ABM RESOURCES | -0.219047619 | 0.082 | 0.105 | 30762940 | 0.155 | 0.066 |
KRM | KINGSROSE MINING | -0.22 | 0.078 | 0.1 | 54750552 | 0.105 | 0.07 |
ARS | ALT RESOURCES | -0.2222222222 | 0.056 | 0.072 | 7165048 | 0.077 | 0.035 |
AOA | AUSMON RESOURCES | -0.2222222222 | 0.007 | 0.009 | 2573475.5 | 0.011 | 0.003 |
RSG | RESOLUTE MINING | -0.2346278317 | 1.1825 | 1.545 | 863821376 | 1.49 | 0.945 |
MEU | MARMOTA | -0.2380952381 | 0.016 | 0.021 | 9562254 | 0.024 | 0.01 |
ERL | EMPIRE RESOURCES | -0.2380952381 | 0.016 | 0.021 | 7731223.5 | 0.029 | 0.014 |
WWI | WEST WITS MINING | -0.24 | 0.019 | 0.025 | 13639106 | 0.033 | 0.016 |
RVY | RIFT VALLEY RESOURCES | -0.2413793103 | 0.022 | 0.029 | 17421866 | 0.035 | 0.02 |
LNY | LANEWAY RESOURCES | -0.25 | 0.003 | 0.004 | 10040198 | 0.006 | 0.0025 |
TMX | TERRAIN MINERALS | -0.25 | 0.009 | 0.012 | 4994665 | 0.014 | 0.006 |
PGM | PLATINA RESOURCES | -0.25 | 0.12 | 0.16 | 31695148 | 0.265 | 0.077 |
RMS | RAMELIUS RESOURCES | -0.2603305785 | 0.4475 | 0.605 | 234519008 | 0.59 | 0.32 |
TYX | TYRANNA RESOURCES | -0.28 | 0.018 | 0.025 | 12801107 | 0.032 | 0.014 |
IPT | IMPACT MINERALS | -0.3043478261 | 0.016 | 0.023 | 21146876 | 0.034 | 0.013 |
LLO | LION ONE METALS | -0.3099415205 | 0.59 | 0.855 | 60134004 | 0.78 | 0.45 |
FML | FOCUS MINERALS | -0.3191489362 | 0.32 | 0.47 | 58479540 | 0.5 | 0.3 |
CAS | CRUSADER RESOURCES | -0.3272727273 | 0.074 | 0.11 | 26082006 | 0.135 | 0.06 |
NTM | NTM GOLD | -0.3333333333 | 0.05 | 0.075 | 15836908 | 0.078 | 0.035 |
MOX | MONAX MINING | -0.3333333333 | 0.006 | 0.009 | 3495973.25 | 0.013 | 0.005 |
CMM | CAPRICORN METALS | -0.3333333333 | 0.08 | 0.12 | 59834904 | 0.135 | 0.05 |
AGD | AUSTRAL GOLD | -0.3333333333 | 0.12 | 0.18 | 56088168 | 0.2 | 0.1 |
S2R | S2 RESOURCES | -0.3333333333 | 0.18 | 0.27 | 44289440 | 0.275 | 0.14 |
DRA | DRAGON MINING | -0.34375 | 0.21 | 0.32 | 17768122 | 0.335 | 0.17 |
SWJ | STONEWALL RESOURCES | -0.3529411765 | 0.011 | 0.017 | 28347666 | 0.032 | 0.012 |
PGO | PRIMARY GOLD | -0.358974359 | 0.05 | 0.078 | 30708444 | 0.079 | 0.036 |
ARD | ARGENT MINERALS | -0.3720930233 | 0.027 | 0.043 | 12029033 | 0.052 | 0.023 |
WGX | WESTGOLD RESOURCES | -0.3734693878 | 1.535 | 2.45 | 544618944 | 2.71 | 1.45 |
TAM | TANAMI GOLD | -0.3846153846 | 0.04 | 0.065 | 47003880 | 0.065 | 0.038 |
CTO | CITIGOLD CORP | -0.4 | 0.006 | 0.01 | 11479529 | 0.013 | 0.005 |
VML | VITAL METALS | -0.4117647059 | 0.01 | 0.017 | 14516579 | 0.02 | 0.006 |
GBM | GBM GOLD | -0.4166666667 | 0.007 | 0.012 | 7828237 | 0.018 | 0.006 |
AYR | ALLOY RESOURCES | -0.4166666667 | 0.007 | 0.012 | 8445134 | 0.011 | 0.003 |
WCN | WHITE CLIFF MINERALS | -0.4202898551 | 0.004 | 0.0069 | 12150069 | 0.0077 | 0.0019 |
LEX | LEFROY EXPLORATION | -0.431372549 | 0.145 | 0.255 | 9390768 | 0.26 | 0.1 |
BMT | BERKUT MINERALS | -0.4482758621 | 0.16 | 0.29 | 9233833 | 0.47 | 0.14 |
HRN | HORIZON GOLD LIMITED | -0.4487179487 | 0.215 | 0.39 | 16836736 | 0.39 | 0.215 |
MRQ | MRG METALS | -0.4488188976 | 0.007 | 0.0127 | 4857357 | 0.0154 | 0.0036 |
SLR | SILVER LAKE RESOURCES | -0.44921875 | 0.3525 | 0.64 | 176381632 | 0.67 | 0.315 |
TRY | TROY RESOURCES | -0.45 | 0.088 | 0.16 | 40899368 | 0.16 | 0.065 |
AWV | ANOVA METALS | -0.4608695652 | 0.062 | 0.115 | 38811672 | 0.135 | 0.058 |
BSR | BASSARI RESOURCES | -0.4615384615 | 0.014 | 0.026 | 30166502 | 0.023 | 0.013 |
TNR | TORIAN RESOURCES | -0.4709677419 | 0.082 | 0.155 | 17169736 | 0.15 | 0.06 |
CGN | CRATER GOLD MINING | -0.4857142857 | 0.018 | 0.035 | 5030366 | 0.036 | 0.008 |
THX | THUNDELARRA | -0.4882729211 | 0.024 | 0.0469 | 15877397 | 0.06 | 0.02 |
PNX | PNX METALS | -0.5 | 0.012 | 0.024 | 11978230 | 0.028 | 0.01 |
NIU | NIUMINCO GROUP | -0.5 | 0.002 | 0.004 | 4546673.5 | 0.0045 | 0.001 |
MXR | MAXIMUS RESOURCES | -0.5 | 0.0015 | 0.003 | 4540953 | 0.003 | 0.001 |
BAR | BARRA RESOURCES | -0.5 | 0.046 | 0.092 | 22739898 | 0.095 | 0.033 |
PGI | PANTERRA GOLD | -0.5205479452 | 0.035 | 0.073 | 4509015.5 | 0.072 | 0.026 |
WPG | WPG RESOURCES | -0.5230769231 | 0.031 | 0.065 | 28125996 | 0.077 | 0.015 |
KGM | KALNORTH GOLD MINES | -0.5294117647 | 0.008 | 0.017 | 7153920.5 | 0.018 | 0.007 |
GES | GENESIS RESOURCES | -0.5555555556 | 0.008 | 0.018 | 6008684 | 0.05 | 0.008 |
GBZ | GBM RESOURCES | -0.5625 | 0.007 | 0.016 | 6044969 | 0.022 | 0.007 |
MRP | MACPHERSONS RESOURCES | -0.5652173913 | 0.1 | 0.23 | 40368048 | 0.3 | 0.105 |
ORR | ORECORP | -0.5688073394 | 0.235 | 0.545 | 50857012 | 0.585 | 0.12 |
KZR | KALAMAZOO RESOURCES | -0.5948717949 | 0.079 | 0.195 | 6801982.5 | 0.23 | 0.07 |
OVL | ORO VERDE | -0.6 | 0.008 | 0.02 | 6108948 | 0.023 | 0.006 |
TRL | TANGA RESOURCES | -0.6 | 0.014 | 0.035 | 8150679.5 | 0.04 | 0.008 |
HAV | HAVILAH RESOURCES | -0.6169711255 | 0.26 | 0.6788 | 58927244 | 0.6984 | 0.17 |
SMI | SANTANA MINERALS | -0.619047619 | 0.016 | 0.042 | 5055704.5 | 0.049 | 0.014 |
MNC | METMINCO | -0.6195652174 | 0.035 | 0.092 | 4452010.5 | 0.092 | 0.035 |
IVR | INVESTIGATOR RESOURCES | -0.6315789474 | 0.014 | 0.038 | 11099580 | 0.04 | 0.014 |
SMD | SYNDICATED METALS | -0.6363636364 | 0.008 | 0.022 | 5083939 | 0.025 | 0.008 |
CLZ | CLASSIC MINERALS | -0.6428571429 | 0.005 | 0.014 | 4449978.5 | 0.02 | 0.003 |
AHK | ARK MINES | -0.6486486486 | 0.065 | 0.185 | 3193418 | 0.2 | 0.049 |
BDR | BEADELL RESOURCES | -0.649122807 | 0.1 | 0.285 | 114709072 | 0.33 | 0.09 |
FNT | FRONTIER RESOURCES | -0.6511627907 | 0.015 | 0.043 | 1564152.25 | 0.054 | 0.014 |
SVL | SILVER MINES | -0.6756756757 | 0.06 | 0.185 | 27087102 | 0.185 | 0.058 |
CRB | CARBINE RESOURCES | -0.6916666667 | 0.037 | 0.12 | 7390629 | 0.13 | 0.028 |
RBX | RESOURCE BASE | -0.7 | 0.036 | 0.12 | 989689.4375 | 0.135 | 0.006 |
PDI | PREDICTIVE DISCOVERY | -0.7231543624 | 0.033 | 0.1192 | 8264972.5 | 0.1192 | 0.033 |
CAI | CALIDUS RESOURCES | -0.86 | 0.042 | 0.3 | 54040076 | 0.3 | 0.019 |
BLK | BLACKHAM RESOURCES | -0.8734177215 | 0.054 | 0.4266 | 67070912 | 0.4232 | 0.031 |
Canada, Australia and the US continued to be the top three destinations for exploration spending.
And exploration spend is expected to grow further this year.
“Despite significant market volatility, the generally positive trend in metals prices has continued in early 2018,” Mr Ferguson said.
“We therefore expect the global exploration budget for 2018 to increase by a further 15 per cent to 20 per cent year-over-year.”
Lower drilling rate worrying
Although exploration spend is on the rise, the number of metres drilled fell in the December quarter last year, which the Association of Mining and Exploration Companies (AMEC) has expressed concern over.
Compared to the previous quarter, the total metres drilled fell by 5.1 per cent — with brownfield exploration slipping 2.9 per cent and greenfield exploration dropping 9 per cent.
Greenfield refers to the exploration of new ground where a discovery has not yet been made, while brownfield refers to near-mine exploration undertaken to expand production at an existing operation.
“While the rise in mineral exploration expenditure is good, the fall in meters drilled is a concern,” AMEC CEO Warren Pearce said.
“The fall in greenfields mineral exploration is particularly worrying.”
Total Australian exploration expenditure rose 4.4 per cent to $20.9 million in the December quarter. The largest increase came from gold exploration, which rose 8.3 per cent to $16 million.
AMEC has been advocating for regulatory reform to encourage greater mineral exploration and mining in Australia.
The organisation is pushing for a new exploration tax credit, which has been tabled and passed through the House of Representatives but is yet to pass the Senate.
The four-year $100 million Junior Mineral Exploration Tax Credit would allow explorers with no mining income to renounce and pass on future tax deductions to Australian resident investors.