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Gold Digger: French bank SocGen bullish as precious yellow metal rises

Gold ends the week on the up. (Pic via Getty Images)

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  • Gold has ended the week in decent form, trending up about 0.11% 
  • French bank Société Générale may be nervy about oil, but it’s still feeling good about gold
  • ASX goldie weekly winners include: ADG, AQI and PUA

 

Gold is precious, and so is your time. Let’s get into it then, and get on to the weekend.

Here’s the yellow metal’s news in brief, starting with some price action…

 

Gold – the latest

• The leading precious metal is in decent shape, changing hands for about US$2,368 per ounce at the time of writing (up roughly $60 since this time last week), and $3,554 in the Aussie version.

• And the sentiment for gold appears to have lifted once again following a weaker US retail sales jobs report released into the wild earlier in the week, along with – according to the US media outlet Kitco – “perceived bargain hunting and technical buying”, after a bit of a dip about a week or so ago.

• And then there’s ye olde geopolitical uncertainty, helping the flight to safety from the US dollar. Late this week, we’ve seen the risk of conflict escalation rise once again, with Israel threatening military action against Lebanon. Not to mention (but we will) Russian president Vladimir Putin disturbingly buddying up with North Korean leader Kim Jong Un.

• What else, then? Here are some other tidbits…

 

French bankers SocGen still yellow metal bullish

Midweek, the influential French bank Société Générale released its third-quarter Multi-Asset Portfolio Strategy into the wild. And it was okay news for gold holders.

On the surface it didn’t sound great – with a reduction in overall commodity exposure on its cards. But when it comes to the precious yellow one, SocGen  revealed it’s  maintaining a 5% holding in gold.

In particular, the banks analysts are bearish on oil in the current climate:

“We foresee a growing probability that OPEC, particularly Saudi Arabia, switches into the will to regain lost market share at multi decade low, like they did at the end of 1985 or 2014. We’re clearly bearish oil, which should prevent one to be too cautious on its investment profile,” the bank’s analysts noted.

SocGen further clarified that it won’t be likely to change its gold holdings ahead of the US elections in November.

“Decisions to freeze for an indefinite time USD assets of the Russia central bank will enforce multi-year buying of gold by central banks of the global south to protect their reserves. Ahead of the US election, we keep a heavy weight in gold,” noted the bank, also suggesting that it expects gold’s uptrend to stay intact for the foreseeable.

“Gold has been one of the top returning assets in the first part of the year, ranking between Japan and US equities,” the bank noted. “Overbuying, inflation stickiness, widening public deficits, geopolitics, and diversification by central banks/monetary authorities underpin our long-held bullish view on the metal.”

 

Central bankers still dig gold, too. Yep… shocker

The World Gold Council confirmed, per its 2024 Central Banks Gold Reserves Survey released earlier in the week, something you probably already knew. And that’s the fact central bankers the world over, love gold.

Read resident ressie expert Josh Chiat’s report on this from earlier in the week. Why? Because it’s well written and pertinent…

The TLDR version if you really are pushed for time, however is:

  • The World Gold Council says 4 in 5 central banks expect to accumulate more gold in the coming year
  • The WGC survey follows two record years for central bank gold buying 

Wrote Josh…

Of the 70 central banks polled, nearly 30% are committing to lift their own gold reserves in the coming year.

57% say gold will account for a higher proportion of global reserves within five years, up from just 38% a year back.

“Extraordinary market pressure, unprecedented economic uncertainty and political upheavals around the world have kept gold front of mind for central banks. Many of these institutions have become more aware of the asset’s value as a way to manage risks and diversify their portfolios,” WGC global head of central banks and head of Asia-Pacific Shaokai Fan said.

“What has been remarkable is that despite record demand from the official sector in the last two years coupled with climbing gold prices,  many reserve managers still maintain their enthusiasm for gold.

“While influences like price may temporarily slow down purchases in the near term, the broader trend remains in place, as managers recognise gold’s role as a strategic asset in the face of ongoing uncertainty.”

 

ASX Winners & Losers

Here’s how ASX-listed precious metals stocks are performing, circa 4pm June 21:

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

Stocks missing from this list? Please email rob.badman@stockhead.com.au

Code Company Price % Week % Month % YTD Market Cap
MRR Minrex Resources Ltd 0.009 -10% -18% -1% $10,306,241
NPM Newpeak Metals 0.019 -17% 1% 0% $2,348,750
ASO Aston Minerals Ltd 0.009 -18% -40% -2% $12,950,643
MTC Metalstech Ltd 0.22 -10% -6% 0% $45,061,728
FFX Firefinch Ltd 0.2 0% 0% 0% $236,569,315
GED Golden Deeps 0.04 -18% -17% -1% $4,620,894
G88 Golden Mile Res Ltd 0.012 9% 0% -1% $4,523,451
NMR Native Mineral Res 0.024 -25% -17% 0% $5,036,412
AQX Alice Queen Ltd 0.007 0% 0% 0% $4,836,930
SLZ Sultan Resources Ltd 0.009 -10% -10% -1% $1,975,865
MKG Mako Gold 0.01 0% -23% 0% $8,784,074
KSN Kingston Resources 0.08 1% -4% 0% $57,268,618
AMI Aurelia Metals Ltd 0.1875 14% -11% 8% $304,481,625
PNX PNX Metals Limited 0.004 0% -20% 0% $23,880,859
GIB Gibb River Diamonds 0.042 -5% 68% 1% $9,729,434
KCN Kingsgate Consolid. 1.64 4% -13% 27% $429,156,567
TMX Terrain Minerals 0.003 0% -14% 0% $5,010,847
BNR Bulletin Res Ltd 0.046 2% -8% -9% $14,680,666
NXM Nexus Minerals Ltd 0.04 0% -41% -1% $15,951,465
SKY SKY Metals Ltd 0.032 -3% -20% 0% $18,276,148
LM8 Lunnonmetalslimited 0.205 0% -36% -40% $42,479,457
CST Castile Resources 0.074 -5% -19% -1% $18,868,389
YRL Yandal Resources 0.125 9% 0% 4% $32,136,914
FAU First Au Ltd 0.0025 -17% -38% 0% $3,323,987
ARL Ardea Resources Ltd 0.495 -12% -22% 2% $99,781,458
GWR GWR Group Ltd 0.087 -7% -13% -1% $27,945,849
IVR Investigator Res Ltd 0.052 2% -19% 1% $80,777,858
GTR Gti Energy Ltd 0.005 0% -23% 0% $10,249,735
IPT Impact Minerals 0.016 0% -30% 1% $52,010,373
BNZ Benzmining 0.14 0% 4% -11% $14,704,524
MOH Moho Resources 0.003 -25% -40% -1% $1,887,124
BCM Brazilian Critical 0.017 -11% -29% -1% $13,291,831
PUA Peak Minerals Ltd 0.004 33% -11% 0% $4,165,506
MRZ Mont Royal Resources 0.06 9% 9% -9% $5,101,788
SMS Starmineralslimited 0.03 0% 3% -1% $2,541,684
MVL Marvel Gold Limited 0.008 0% 0% 0% $6,910,326
PRX Prodigy Gold NL 0.003 20% 0% 0% $4,235,549
AAU Antilles Gold Ltd 0.0035 -42% -65% -2% $3,986,140
CWX Carawine Resources 0.1 0% 0% -1% $23,612,545
RND Rand Mining Ltd 1.44 4% -8% 7% $80,763,865
CAZ Cazaly Resources 0.02 -9% 11% -1% $9,092,726
BMR Ballymore Resources 0.16 -11% -18% 4% $28,276,894
DRE Dreadnought Resources Ltd 0.025 25% 39% -1% $84,313,751
ZNC Zenith Minerals Ltd 0.055 -18% -21% -10% $21,495,234
REZ Resourc & En Grp Ltd 0.013 -7% 8% 0% $7,485,669
LEX Lefroy Exploration 0.098 11% 1% -8% $19,043,556
ERM Emmerson Resources 0.051 19% -11% -1% $28,324,909
AM7 Arcadia Minerals 0.05 -6% -17% -2% $5,852,505
ADT Adriatic Metals 4 1% -16% -1% $1,105,491,654
AS1 Asara Resources Ltd 0.01 0% -9% 0% $8,821,754
CYL Catalyst Metals 1.075 10% 9% 27% $226,828,369
CHN Chalice Mining Ltd 1.35 -4% -22% -35% $528,990,093
KAL Kalgoorliegoldmining 0.029 -12% -6% 0% $4,913,522
MLS Metals Australia 0.0205 -7% -2% -2% $14,147,390
ADN Andromeda Metals Ltd 0.017 0% -11% -1% $52,874,606
MEI Meteoric Resources 0.165 0% -13% -10% $338,320,374
SRN Surefire Rescs NL 0.008 -6% -11% 0% $15,890,463
SIH Sihayo Gold Limited 0.0025 0% 25% 0% $30,510,640
WA8 Warriedarresourltd 0.054 -2% -2% 0% $35,312,195
HMX Hammer Metals Ltd 0.033 0% -18% -2% $29,251,443
WCN White Cliff Min Ltd 0.017 -6% 6% 1% $24,365,811
AVM Advance Metals Ltd 0.024 0% -7% -1% $2,254,440
WRM White Rock Min Ltd 0 -100% -100% -6% $17,508,200
ASR Asra Minerals Ltd 0.004 0% -33% 0% $8,144,317
MCT Metalicity Limited 0.002 -20% 0% 0% $8,971,705
AME Alto Metals Limited 0.032 -3% -18% -1% $22,367,218
CTO Citigold Corp Ltd 0.005 0% -38% 0% $15,000,000
TIE Tietto Minerals 0 -100% -100% -61% $773,881,054
SMI Santana Minerals Ltd 1.13 4% -4% 12% $230,587,843
M2R Miramar 0.008 -20% -27% -1% $1,674,782
MHC Manhattan Corp Ltd 0.0015 -25% -40% 0% $4,405,470
GRL Godolphin Resources 0.019 -5% -32% -2% $4,056,333
SVG Savannah Goldfields 0.02 -13% -35% -3% $5,621,698
EMC Everest Metals Corp 0.12 0% -4% 4% $20,535,389
GUL Gullewa Limited 0.071 1% 29% 2% $14,538,890
CY5 Cygnus Metals Ltd 0.049 -11% -42% -9% $14,961,316
G50 G50Corp Ltd 0.14 17% -15% 1% $15,300,600
ADV Ardiden Ltd 0.14 0% -10% -4% $8,439,863
AAR Astral Resources NL 0.082 3% -6% 1% $72,945,408
VMC Venus Metals Cor Ltd 0.076 -12% -6% -2% $14,419,380
NAE New Age Exploration 0.0035 -13% 17% 0% $7,175,596
VKA Viking Mines Ltd 0.008 0% -20% -1% $8,202,067
LCL LCL Resources Ltd 0.008 -27% -33% -1% $7,719,024
MTH Mithril Resources 0.145 -26% -28% -6% $13,109,314
ADG Adelong Gold Limited 0.007 40% 75% 0% $7,825,923
RMX Red Mount Min Ltd 0.001 0% 0% 0% $3,423,577
PRS Prospech Limited 0.032 -6% -29% 0% $8,104,462
TTM Titan Minerals 0.041 11% 64% 1% $65,436,492
NML Navarre Minerals Ltd 0.019 0% 0% 0% $28,555,654
AAM Aumegametals 0.05 -11% -32% 0% $27,327,832
KZR Kalamazoo Resources 0.086 -2% -28% -3% $15,468,547
BCN Beacon Minerals 0.025 0% -11% 0% $93,919,204
MAU Magnetic Resources 1.005 -6% -6% -2% $270,900,623
BC8 Black Cat Syndicate 0.295 11% -16% 5% $105,803,661
EM2 Eagle Mountain 0.054 0% -33% -2% $21,608,121
EMR Emerald Res NL 3.515 -3% -8% 51% $2,293,856,810
BYH Bryah Resources Ltd 0.007 0% -22% -1% $3,483,628
HCH Hot Chili Ltd 0.945 0% -17% -14% $143,777,946
WAF West African Res Ltd 1.4975 7% -2% 55% $1,500,560,164
MEU Marmota Limited 0.046 10% -2% 0% $47,646,026
NVA Nova Minerals Ltd 0.195 -5% -24% -17% $41,936,092
SVL Silver Mines Limited 0.1675 2% -22% 1% $256,366,164
PGD Peregrine Gold 0.2 -9% -31% -4% $15,272,645
ICL Iceni Gold 0.068 -8% -6% 2% $18,820,513
FG1 Flynngold 0.024 -9% -11% -2% $6,618,162
WWI West Wits Mining Ltd 0.012 0% -14% 0% $32,995,091
RML Resolution Minerals 0.002 0% 0% 0% $4,025,055
AAJ Aruma Resources Ltd 0.015 -6% -6% -1% $2,953,373
AL8 Alderan Resource Ltd 0.0035 -13% -22% 0% $4,427,445
GMN Gold Mountain Ltd 0.003 0% -14% 0% $9,371,068
MEG Megado Minerals Ltd 0.009 -10% -31% -3% $2,290,100
HMG Hamelingoldlimited 0.079 -1% 5% 0% $12,442,500
TBA Tombola Gold Ltd 0.026 0% 0% 0% $33,129,243
BM8 Battery Age Minerals 0.145 -17% 4% -5% $13,488,500
TBR Tribune Res Ltd 3.41 -1% -12% 46% $178,391,462
FML Focus Minerals Ltd 0.15 0% 3% -4% $40,118,210
GSR Greenstone Resources 0.011 0% -8% 0% $15,761,980
VRC Volt Resources Ltd 0.005 0% 11% 0% $18,714,052
ARV Artemis Resources 0.013 0% -13% -1% $19,406,158
HRN Horizon Gold Ltd 0.285 2% -2% -2% $38,382,580
CLA Celsius Resource Ltd 0.0115 5% 15% 0% $26,707,040
QML Qmines Limited 0.059 9% -20% -2% $13,298,188
RDN Raiden Resources Ltd 0.027 -21% -48% -1% $78,690,412
TCG Turaco Gold Limited 0.19 3% -16% 6% $153,358,223
KCC Kincora Copper 0.06 -8% 62% 2% $12,283,589
GBZ GBM Rsources Ltd 0.01 0% -17% 0% $11,566,889
DTM Dart Mining NL 0.02 5% -33% 0% $5,943,956
MKR Manuka Resources. 0.04 0% -26% -4% $28,112,212
AUC Ausgold Limited 0.037 3% -5% 1% $93,912,801
ANX Anax Metals Ltd 0.027 -25% -49% 0% $15,965,562
EMU EMU NL 0.027 4% -13% 0% $2,092,310
SFM Santa Fe Minerals 0.037 -8% -8% -1% $2,694,295
SSR SSR Mining Inc. 6.97 -5% -18% -885% $30,111,485
PNR Pantoro Limited 0.0935 11% 3% 4% $580,320,206
CMM Capricorn Metals 4.905 9% 1% 20% $1,834,786,231
X64 Ten Sixty Four Ltd 0.57 0% 0% 0% $130,184,182
SI6 SI6 Metals Limited 0.0025 0% -17% 0% $7,106,578
HAW Hawthorn Resources 0.065 -7% -10% -3% $23,451,093
BGD Bartongoldholdings 0.295 0% -12% 3% $64,504,382
SVY Stavely Minerals Ltd 0.034 -8% -31% -1% $16,018,396
AGC AGC Ltd 0.32 -17% -3% 25% $74,872,656
RGL Riversgold 0.006 0% -14% -1% $7,257,461
TSO Tesoro Gold Ltd 0.029 -28% -34% 0% $36,887,421
GUE Global Uranium 0.087 -7% -21% -1% $23,380,477
CPM Coopermetalslimited 0.063 -20% -48% -28% $5,328,184
MM8 Medallion Metals. 0.056 6% -2% -1% $16,614,944
FFM Firefly Metals Ltd 0.79 14% -8% 16% $367,741,591
CBY Canterbury Resources 0.046 -4% -21% 2% $7,900,081
LYN Lycaonresources 0.22 7% -27% 2% $11,921,585
SFR Sandfire Resources 8.85 2% -12% 151% $4,015,646,552
TMZ Thomson Res Ltd 0.005 0% 0% 0% $4,881,018
TAM Tanami Gold NL 0.032 -6% -9% 0% $36,428,008
WMC Wiluna Mining Corp 0 -100% -100% -21% $74,238,031
NWM Norwest Minerals 0.025 -7% -38% 0% $9,314,868
ALK Alkane Resources Ltd 0.535 4% -16% -12% $322,867,411
BMO Bastion Minerals 0.007 -13% -13% -1% $2,610,503
IDA Indiana Resources 0.077 -3% -1% 0% $50,729,702
GSM Golden State Mining 0.011 10% 0% 0% $2,793,706
NSM Northstaw 0.015 -46% -57% -4% $2,098,137
GSN Great Southern 0.015 -17% -21% 0% $12,262,255
RED Red 5 Limited 0.4175 -5% -12% 11% $2,789,014,087
DEG De Grey Mining 1.0725 4% -11% -16% $2,552,458,352
THR Thor Energy PLC 0.016 0% 0% -1% $3,208,934
CDR Codrus Minerals Ltd 0.047 -6% -10% -1% $7,938,600
MDI Middle Island Res 0.013 -7% -19% 0% $2,832,102
WTM Waratah Minerals Ltd 0.115 15% 5% -1% $20,626,917
POL Polymetals Resources 0.26 -12% -12% -5% $46,690,166
RDS Redstone Resources 0.005 43% 25% 0% $4,626,892
NAG Nagambie Resources 0.009 -18% -25% -2% $8,762,992
BGL Bellevue Gold Ltd 1.8425 -3% -9% 17% $2,183,969,134
GBR Greatbould Resources 0.06 -5% -5% -1% $35,769,112
KAI Kairos Minerals Ltd 0.01 11% -17% 0% $28,830,034
KAU Kaiser Reef 0.15 7% 0% -2% $26,511,804
HRZ Horizon 0.033 -20% -42% -1% $35,793,891
CAI Calidus Resources 0.1075 -7% -20% -11% $85,532,275
CDT Castle Minerals 0.005 -17% 0% 0% $6,122,465
RSG Resolute Mining 0.5325 -3% 8% 9% $1,096,460,757
MXR Maximus Resources 0.029 4% -9% -1% $12,409,903
EVN Evolution Mining Ltd 3.675 -1% -9% -29% $7,109,442,374
CXU Cauldron Energy Ltd 0.024 -17% -41% 0% $33,116,327
DLI Delta Lithium 0.23 -4% -30% -24% $167,650,678
ALY Alchemy Resource Ltd 0.006 -25% -14% 0% $8,246,534
HXG Hexagon Energy 0.013 -24% -32% 0% $7,693,739
OBM Ora Banda Mining Ltd 0.38 3% 15% 14% $686,939,667
SLR Silver Lake Resource 1.565 0% -3% 38% $1,496,968,932
AVW Avira Resources Ltd 0.001 0% 0% 0% $2,663,790
LCY Legacy Iron Ore 0.014 8% -7% 0% $107,989,676
PDI Predictive Disc Ltd 0.1825 -4% -4% -3% $433,436,867
MAT Matsa Resources 0.027 -4% -7% 0% $14,862,829
ZAG Zuleika Gold Ltd 0.021 11% 5% 0% $15,457,796
GML Gateway Mining 0.026 -13% 30% 0% $10,281,945
SBM St Barbara Limited 0.21 -9% -26% 0% $159,504,224
SBR Sabre Resources 0.017 0% -19% -2% $6,362,453
STK Strickland Metals 0.115 10% 16% 2% $205,819,457
ION Iondrive Limited 0.009 -36% -18% 0% $6,048,566
CEL Challenger Gold Ltd 0.059 -2% -21% -2% $76,517,500
LRL Labyrinth Resources 0.004 0% -33% 0% $4,750,175
NST Northern Star 13.675 0% -9% 3% $15,472,098,291
OZM Ozaurum Resources 0.061 27% 3% -9% $8,413,750
TG1 Techgen Metals Ltd 0.027 -13% -40% -5% $3,459,579
XAM Xanadu Mines Ltd 0.057 -2% -26% 0% $102,960,361
AQI Alicanto Min Ltd 0.021 31% -9% -2% $11,696,149
KTA Krakatoa Resources 0.011 -15% -39% -3% $5,193,179
ARN Aldoro Resources 0.08 25% 4% -5% $10,769,899
WGX Westgold Resources. 2.515 7% 11% 34% $1,146,167,007
MBK Metal Bank Ltd 0.023 0% 15% 0% $10,151,942
A8G Australasian Metals 0.076 -14% 0% -9% $4,117,519
TAR Taruga Minerals 0.007 0% -22% 0% $4,942,187
DTR Dateline Resources 0.009 -10% -25% 0% $13,117,923
GOR Gold Road Res Ltd 1.72 9% 3% -25% $1,809,185,420
S2R S2 Resources 0.1 -5% -20% -7% $44,832,941
NES Nelson Resources. 0.003 0% 0% 0% $1,840,783
TLM Talisman Mining 0.26 2% -32% 3% $48,021,689
BEZ Besragoldinc 0.099 5% -1% -5% $41,391,990
PRU Perseus Mining Ltd 2.45 4% -1% 60% $3,283,361,004
SPQ Superior Resources 0.007 -13% -13% -1% $16,009,763
PUR Pursuit Minerals 0.003 -25% -40% -1% $8,831,914
RMS Ramelius Resources 1.945 3% -7% 26% $2,154,436,554
PKO Peako Limited 0.005 25% 0% 0% $2,108,339
ICG Inca Minerals Ltd 0.008 0% 14% 0% $6,437,911
A1G African Gold Ltd. 0.023 -12% -21% 0% $5,501,961
OAU Ora Gold Limited 0.005 25% 25% 0% $39,276,378
GNM Great Northern 0.012 -8% -8% -1% $1,855,549
KRM Kingsrose Mining Ltd 0.042 -7% -11% 0% $32,358,640
BTR Brightstar Resources 0.018 24% 13% 0% $86,829,708
RRL Regis Resources 1.8 3% -16% -38% $1,367,163,242
M24 Mamba Exploration 0.017 -15% -19% -3% $3,313,481
TRM Truscott Mining Corp 0.06 -10% -4% 1% $10,575,391
TNC True North Copper 0.043 -22% -36% -5% $40,272,549
MOM Moab Minerals Ltd 0.004 0% -33% 0% $2,847,852
KNB Koonenberrygold 0.017 6% 13% -2% $4,892,387
AWJ Auric Mining 0.17 -8% -15% 5% $25,254,073
AZS Azure Minerals 0 -100% -100% -370% $1,692,527,632
ENR Encounter Resources 0.325 -6% -19% 4% $162,028,099
SNG Siren Gold 0.094 19% 11% 3% $19,259,203
STN Saturn Metals 0.195 -5% -30% 3% $44,800,495
USL Unico Silver Limited 0.155 11% -16% 3% $44,857,739
PNM Pacific Nickel Mines 0.03 -23% -23% -5% $12,547,593
AYM Australia United Min 0.003 50% 0% 0% $5,527,732
ANL Amani Gold Ltd 0.001 0% 0% 0% $25,743,441
HAV Havilah Resources 0.17 0% -24% -3% $56,995,058
SPR Spartan Resources 0.825 -2% 16% 31% $905,757,967
PNT Panthermetalsltd 0.029 0% -42% -3% $2,527,819
MEK Meeka Metals Limited 0.032 -3% -14% -1% $38,275,977
GMD Genesis Minerals 1.88 6% -2% 9% $2,030,699,338
PGO Pacgold 0.105 -5% -38% -9% $8,835,271
FEG Far East Gold 0.105 -9% -9% -2% $27,046,618
MI6 Minerals260Limited 0.135 -4% -13% -19% $35,100,000
IGO IGO Limited 5.515 -12% -31% -354% $4,437,589,384
GAL Galileo Mining Ltd 0.205 -16% -25% -8% $41,501,235
RXL Rox Resources 0.135 -7% -23% -5% $55,971,745
KIN KIN Min NL 0.057 -2% -16% -1% $65,976,431
CLZ Classic Min Ltd 0.002 -33% -67% -5% $1,102,057
TGM Theta Gold Mines Ltd 0.145 -3% -6% 3% $99,615,577
FAL Falconmetalsltd 0.27 0% 80% 13% $48,675,000
SXG Southern Cross Gold 2.19 -18% -24% 93% $453,950,194
SPD Southernpalladium 0.42 5% -25% 5% $35,451,250
ORN Orion Minerals Ltd 0.016 -6% -20% 0% $90,834,574
TMB Tambourahmetals 0.065 -7% -16% -5% $5,391,123
TMS Tennant Minerals Ltd 0.021 -5% -13% -1% $20,073,699
AZY Antipa Minerals Ltd 0.011 -12% -15% -1% $45,535,044
PXX Polarx Limited 0.013 18% -7% 1% $24,605,790
TRE Toubani Res Ltd 0.175 3% 21% 3% $30,119,775
AUN Aurumin 0.038 -3% -12% 1% $17,230,041
GPR Geopacific Resources 0.021 -5% -5% 0% $19,152,125
FXG Felix Gold Limited 0.046 -8% -31% 0% $12,089,539
ILT Iltani Resources Lim 0.275 -8% -17% 12% $9,522,941
ARD Argent Minerals 0.017 6% -26% 1% $24,368,236
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Notable weekly gainers

Adelong Gold (ASX:ADG) +40%

Gold, base metals, rare earths and lithium junior Adelong moved up this week after entering into a non-binding Memorandum of Understanding (MOU) with Cosmo Gold Limited and Sarama Resources (ASX:SRR) to, per a June 17 ASX release, “accept fully paid ordinary shares and options in Sarama in full settlement of the loan obligations owed by Cosmo to Adelong Gold”.

The critical metals hunter also had some REE and niobium news out of Brazil this week…

 

Alicanto Minerals (ASX:AQI) +27%

Alicanto’s share price rose today off the back of a management restructure that will see MD Rob Sennitt leave and former Bellevue Gold (ASX:BGL) chair Ray Shorrocks step in as executive chair.

While Susan Field will take on fellow Bellevue alumnus Michael Naylor’s CFO role, the company has pledged that Naylor and Firefly Metals (ASX:FFM) MD Steve Parsons, formerly the MD at ASX 200 listed Bellevue, will be helping to review potential acquisitions that could reinvigorate the explorer.

The success of Bellevue, which recently entered commercial production in WA, means the star power behind its former players still attracts eyeballs and investor interest at the junior end of the market.

Alicanto has thus far been focused on two projects of near Viking antiquity: the Falun copper-gold project and the Sala zinc-silver project. Both projects have a long history of high-grade production but have been the subject of very limited exploration in recent times.

The company notes that over their operating lives Falun produced in the order of 28mt at 4% copper, 4g/t gold, 5% zinc, 2% lead and 35g/t silver while Sala produced approximately 200Mozs of silver at an average grade of 1,244g/t.

The lift came despite a $1.6m raising for exploration and working capital purposes conducted at a hefty 31.58% discount to the explorer’s last closing price.

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