The price of gold has dipped back below its soaring level of US$2,400+
But a particularly bullish narrative is forming believes Forbes
ASX gold stocks performing over the past week include: AGC, NMR and NPM
The recent, seemingly unstoppable gold price has lost a bit of its lustre as we lurch towards the end of a macro-stained week. Thanks for ruining the party, Fed. Again.
You’ll know what’s meant by that, but here’s what we mean in a nutshell:
Stocks and generally most markets, including the commodity-tastic subject of this column, cooled off this week as the threat of interest rate hikes from the US Federal Reserve reared its ugly head again after a better-than-expected unemployment report from the US Labor Department.
The main trigger was the higher than anticipated PMI (Purchasing Managers’ Index) data. Higher bond yields has also been a factor.
“The data put the US economy back on course for another solid GDP gain in the second quarter,” said Chris Williamson at S&P Global Market Intelligence.
Meanwhile, interest rate hikes from the Fed certainly aren’t baked in, nor on the other hand are the much-hoped-for cuts, either, it seems.
On a third hand, however, Jerome Powell and co treading a conflicting line between boring investors and traders to tears while also keeping them on the edge of their seats is definitely still on the menu for the foreseeable while rates are kept on hold.
The latest gold prices, then:
After recently soaring at an all-time high above US$2,400, we’re back down to the also-not-terrible US$2,330s zone. Meanwhile in Aussie dollars gold is changing hands $3,540 at the time of writing.
There’s been a slight intraday uptick of 0.2%, so at least a bit of a bounce since this time yesterday.
But generally speaking, gold stocks were struggling today with the overall dip in bullion this week.
Time for something more bullish…
The possibility of a global gold standard looms?
Seems like an outlandish thought, that. Or does it?
Not according to Steve Forbes – chairman and editor-in-chief of Forbes Media.
“It’s hard to believe, but the world is beginning to lurch toward a gold-based monetary system,” wrote Forbes in an article published on May 21.
“This, despite the fact that the historical gold standard is held in almost universal contempt by economists and financial officials.”
The idea of a gold-based currency has plenty of critics, as Forbes notes, due to the availability and value of gold being a fluctuating beast, and therefore supposedly not possessing the sort of price stability needed to sustain a healthy economy. Imagine the inflation when gold’s mined from asteroids, etc etc.
But Forbes counters with the reminder that “the US was on a gold-based system for 180 years until the early 1970s.
“We never had inflation when the dollar’s value was tied to the yellow metal, and the US experienced the greatest long-term economic growth in human history.”
Ever since President Richard Nixon ditched the US gold standard in the 1970s, the US economy’s average growth rates have reportedly declined by around 33%.
“Median household income today would be at least $40,000 higher if our traditional pattern of growth for those 180 years had been maintained,” wrote Forbes. “Nonetheless, the contumely and scorn for a gold-based monetary system is universal.”
So what makes Forbes believe the world is possibly heading to a new global gold standard monetary system? To paraphrase a bit in bullet-point form:
• Central banks buying gold at record levels. “Buyers include China, India, Russia and a number of other nations such as Poland. These countries are reacting to growing doubts about the long-term value of the dollar, which in turn is a symptom of the perceived decline of the United States.”
• Crypto. Wait… what? Forbes sees the rise of digital money as another clear indicator of turning tides and thought in the world of finance. He describes Bitcoin and crypto as “a high-tech cry for help in the face of increasingly unreliable fiat currencies”, adding:
“There are a handful of cryptos tethered to gold, but they haven’t yet achieved the credibility or built the mechanisms to be widely used. Nonetheless, as governments flounder in their monetary policies, that will change.”
• Spiralling debt, in the world’s biggest economy (the US), and globally, which Forbes says “will inevitably kindle crises that cannot be easily extinguished… Total debt in the world today is more than $300 trillion, an astonishing three times global GDP.”
• And BRICS nations, led by China. BRICS US de-dollarisation efforts seem to be gaining traction, believes the analyst, noting that “their monetary machinations, so far, have amounted to little, but that’s starting to shift”, pointing to India’s recent experiments with gold-backed government bonds.
And, actually, just on that… this…
The IMF is down with Zimbabwe’s gold-backed move
The International Money Fund has reportedly described Zimbabwe’s recent introduction of a gold-backed currency – ZiG – as an “important” step.
The IMF is now publicly supportive of a gold-backed currency.
Many did not have this on their bingo card.
The foundation is changing.
— Gold Telegraph (@GoldTelegraph_) May 23, 2024
“The introduction of ZiG represents an important policy action accompanied by several complementary policy changes – including monetary, exchange rate, and fiscal policy measures,” replied a spokesperson for the Washington-based lender to Bloomberg‘s questioning.
Forbes, meanwhile, noted the insane hyperinflation and instability of the southern African country, caveating:
“Deep skepticism is warranted that this government has the discipline to make such an arrangement work. But the move is a sign of things to come.”
ASX Winners & Losers
Here’s how ASX-listed precious metals stocks are performing, circa 4pm May 24:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.
Stocks missing from this list? Please email [email protected]
Code Company Price % Week % Month % YTD Market Cap MRR Minrex Resources Ltd 0.01 -17% -17% -1% $12,475,976 NPM Newpeak Metals 0.031 48% 94% 2% $3,832,170 ASO Aston Minerals Ltd 0.018 50% 50% -1% $23,311,157 MTC Metalstech Ltd 0.22 -12% 33% 0% $39,680,464 FFX Firefinch Ltd 0.2 0% 0% 0% $236,569,315 GED Golden Deeps 0.043 -10% 13% 0% $4,967,461 G88 Golden Mile Res Ltd 0.0125 14% 4% -1% $5,345,897 DCX Discovex Res Ltd 0.002 0% 0% 0% $6,605,136 NMR Native Mineral Res 0.036 64% 57% 2% $7,134,917 AQX Alice Queen Ltd 0.007 0% 17% 0% $4,836,930 SLZ Sultan Resources Ltd 0.012 9% 9% -1% $2,371,038 MKG Mako Gold 0.011 -15% -21% 0% $11,712,098 KSN Kingston Resources 0.078 -3% 10% 0% $57,268,618 AMI Aurelia Metals Ltd 0.1975 1% 1% 9% $321,055,807 PNX PNX Metals Limited 0.005 25% 0% 0% $29,851,074 GIB Gibb River Diamonds 0.045 80% 61% 2% $10,363,963 KCN Kingsgate Consolid. 1.75 -6% 15% 38% $451,065,461 TMX Terrain Minerals 0.0035 17% -13% 0% $4,295,012 BNR Bulletin Res Ltd 0.05 0% 2% -9% $13,799,826 NXM Nexus Minerals Ltd 0.057 -11% -12% 1% $23,732,668 SKY SKY Metals Ltd 0.044 16% 26% 1% $25,940,339 LM8 Lunnonmetalslimited 0.26 -10% -12% -34% $63,174,577 CST Castile Resources 0.086 -9% -9% 0% $20,803,609 YRL Yandal Resources 0.135 17% -10% 5% $36,154,028 FAU First Au Ltd 0.0035 -13% 75% 0% $5,816,976 ARL Ardea Resources Ltd 0.6 0% -29% 13% $121,733,378 GWR GWR Group Ltd 0.095 -14% -17% 0% $30,515,582 IVR Investigator Res Ltd 0.055 2% 6% 2% $88,697,256 GTR Gti Energy Ltd 0.006 0% -8% 0% $12,299,683 IPT Impact Minerals 0.0195 -11% -7% 1% $57,656,791 BNZ Benzmining 0.13 0% -19% -12% $14,197,097 MOH Moho Resources 0.005 0% -9% -1% $2,695,891 BCM Brazilian Critical 0.021 -16% -13% -1% $16,411,050 PUA Peak Minerals Ltd 0.0045 13% 50% 0% $4,165,506 MRZ Mont Royal Resources 0.055 0% -8% -10% $4,506,579 SMS Starmineralslimited 0.027 -10% -34% -1% $2,049,916 MVL Marvel Gold Limited 0.01 0% 11% 0% $7,774,116 PRX Prodigy Gold NL 0.0025 -17% 0% 0% $6,041,322 AAU Antilles Gold Ltd 0.008 -27% -57% -2% $8,968,815 CWX Carawine Resources 0.105 5% 0% -1% $24,793,172 RND Rand Mining Ltd 1.475 -7% -5% 11% $85,313,942 CAZ Cazaly Resources 0.026 53% 53% 0% $13,184,453 BMR Ballymore Resources 0.195 22% 56% 7% $35,346,117 DRE Dreadnought Resources Ltd 0.017 6% 3% -1% $59,722,240 ZNC Zenith Minerals Ltd 0.072 -4% -24% -8% $24,314,281 REZ Resourc & En Grp Ltd 0.013 0% 0% 0% $8,109,475 LEX Lefroy Exploration 0.096 -9% -20% -8% $19,845,390 ERM Emmerson Resources 0.05 -11% 9% -1% $28,324,909 AM7 Arcadia Minerals 0.07 17% -8% 0% $8,193,507 ADT Adriatic Metals 4.42 -5% -1% 41% $1,175,566,185 AS1 Asara Resources Ltd 0.011 0% 22% 0% $8,821,754 CYL Catalyst Metals 1.085 25% 26% 28% $234,850,997 CHN Chalice Mining Ltd 1.69 -2% 32% -1% $667,072,066 KAL Kalgoorliegoldmining 0.032 3% -9% 1% $5,230,524 MLS Metals Australia 0.022 5% 0% -2% $14,854,760 ADN Andromeda Metals Ltd 0.018 6% -5% -1% $52,874,606 MEI Meteoric Resources 0.18 -8% -16% -8% $358,221,572 SRN Surefire Rescs NL 0.0095 -5% -10% 0% $17,876,770 SIH Sihayo Gold Limited 0.002 -33% 100% 0% $24,408,512 WA8 Warriedarresourltd 0.053 -5% 20% 0% $36,613,303 HMX Hammer Metals Ltd 0.04 5% -9% -1% $34,569,887 WCN White Cliff Min Ltd 0.0155 3% 11% 1% $25,178,005 AVM Advance Metals Ltd 0.025 -3% 9% -1% $1,322,333 WRM White Rock Min Ltd 0 -100% -100% -6% $17,508,200 ASR Asra Minerals Ltd 0.007 0% 0% 0% $11,647,970 MCT Metalicity Limited 0.002 -20% 0% 0% $8,970,190 AME Alto Metals Limited 0.038 -3% -14% -1% $28,139,404 CTO Citigold Corp Ltd 0.007 0% 75% 0% $24,000,000 TIE Tietto Minerals 0.6725 0% 6% 6% $773,881,054 SMI Santana Minerals Ltd 1.15 3% -9% 14% $236,663,803 M2R Miramar 0.011 0% 0% -1% $2,046,956 MHC Manhattan Corp Ltd 0.0025 0% 25% 0% $7,342,449 GRL Godolphin Resources 0.026 -7% -26% -1% $5,348,495 SVG Savannah Goldfields 0.035 9% 17% -2% $9,837,972 EMC Everest Metals Corp 0.14 4% 47% 6% $22,999,635 GUL Gullewa Limited 0.055 0% -2% 0% $11,262,521 CY5 Cygnus Metals Ltd 0.075 -15% -13% -6% $24,348,809 G50 G50Corp Ltd 0.15 -17% -21% 2% $18,579,300 ADV Ardiden Ltd 0.15 -6% -6% -3% $9,377,626 AAR Astral Resources NL 0.087 5% 23% 1% $83,045,681 VMC Venus Metals Cor Ltd 0.09 11% -3% -1% $16,316,667 NAE New Age Exploration 0.004 0% 0% 0% $7,175,596 VKA Viking Mines Ltd 0.01 0% -9% 0% $10,252,584 LCL LCL Resources Ltd 0.012 4% 4% -1% $11,462,706 MTH Mithril Resources 0.28 40% 40% 8% $24,949,985 ADG Adelong Gold Limited 0.004 0% 14% 0% $4,321,956 RMX Red Mount Min Ltd 0.001 0% -33% 0% $3,423,577 PRS Prospech Limited 0.04 -11% 3% 1% $11,346,246 TTM Titan Minerals 0.024 0% -25% 0% $43,624,328 NML Navarre Minerals Ltd 0.019 0% 0% 0% $28,555,654 MZZ Matador Mining Ltd 0.072 -14% -8% 3% $38,300,259 KZR Kalamazoo Resources 0.105 -9% 11% -2% $19,785,351 BCN Beacon Minerals 0.029 7% -3% 0% $105,189,509 MAU Magnetic Resources 1.06 1% -2% 4% $270,900,623 BC8 Black Cat Syndicate 0.32 -7% 21% 7% $98,737,102 EM2 Eagle Mountain 0.068 -18% 15% -1% $26,322,620 EMR Emerald Res NL 3.645 -3% 8% 64% $2,481,151,258 BYH Bryah Resources Ltd 0.009 29% 0% 0% $3,919,082 HCH Hot Chili Ltd 1.1 0% -6% 2% $157,336,275 WAF West African Res Ltd 1.46 -2% 13% 52% $1,510,823,055 MEU Marmota Limited 0.046 2% 12% 0% $50,822,428 NVA Nova Minerals Ltd 0.235 -6% -22% -13% $51,113,652 SVL Silver Mines Limited 0.2 3% 14% 4% $286,526,889 PGD Peregrine Gold 0.27 -7% 23% 3% $19,005,958 ICL Iceni Gold 0.061 -27% 135% 1% $17,729,468 FG1 Flynngold 0.034 26% -21% -1% $8,654,520 WWI West Wits Mining Ltd 0.015 7% -12% 0% $38,071,259 RML Resolution Minerals 0.002 0% -33% 0% $4,830,065 AAJ Aruma Resources Ltd 0.018 20% 6% -1% $3,544,047 AL8 Alderan Resource Ltd 0.0045 13% -10% 0% $4,427,445 GMN Gold Mountain Ltd 0.004 0% 0% 0% $8,926,517 MEG Megado Minerals Ltd 0.011 -21% 10% -2% $2,799,011 HMG Hamelingoldlimited 0.075 17% 1% 0% $11,812,500 TBA Tombola Gold Ltd 0.026 0% 0% 0% $33,129,243 BM8 Battery Age Minerals 0.165 38% 65% -3% $15,814,104 TBR Tribune Res Ltd 3.59 -9% -21% 64% $195,181,246 FML Focus Minerals Ltd 0.145 -6% -28% -4% $42,983,797 GSR Greenstone Resources 0.012 9% 33% 1% $16,479,087 VRC Volt Resources Ltd 0.0045 0% -25% 0% $20,793,391 ARV Artemis Resources 0.014 -7% -22% -1% $26,462,942 HRN Horizon Gold Ltd 0.275 -8% -2% -3% $39,830,979 CLA Celsius Resource Ltd 0.0105 5% 5% 0% $24,279,127 QML Qmines Limited 0.07 -17% 8% -1% $14,650,546 RDN Raiden Resources Ltd 0.049 -2% 48% 1% $132,132,670 TCG Turaco Gold Limited 0.215 -10% 26% 9% $164,579,556 KCC Kincora Copper 0.036 -10% -8% -1% $7,583,871 GBZ GBM Rsources Ltd 0.009 -10% -25% 0% $11,566,889 DTM Dart Mining NL 0.027 -7% -13% 1% $6,977,688 MKR Manuka Resources. 0.044 -25% -45% -3% $34,190,528 AUC Ausgold Limited 0.036 29% 20% 0% $84,957,225 ANX Anax Metals Ltd 0.045 -8% 88% 2% $26,609,269 EMU EMU NL 0.036 20% 20% 1% $2,429,747 SFM Santa Fe Minerals 0.04 0% -15% 0% $2,912,752 SSR SSR Mining Inc. 8.04 1% 2% -778% $37,275,462 PNR Pantoro Limited 0.089 2% 5% 3% $567,704,549 CMM Capricorn Metals 4.59 -4% -7% -12% $1,755,505,344 X64 Ten Sixty Four Ltd 0.57 0% 0% 0% $130,184,182 SI6 SI6 Metals Limited 0.004 0% 33% 0% $9,475,438 HAW Hawthorn Resources 0.07 3% 1% -2% $23,451,093 BGD Bartongoldholdings 0.3 -13% 15% 4% $66,629,385 SVY Stavely Minerals Ltd 0.048 33% 60% 0% $18,715,065 AGC AGC Ltd 0.51 73% 554% 44% $124,444,444 RGL Riversgold 0.0075 -17% 7% 0% $9,676,615 TSO Tesoro Gold Ltd 0.041 -2% 14% 1% $46,724,067 GUE Global Uranium 0.098 -2% 8% 0% $27,897,160 CPM Coopermetalslimited 0.12 -17% 4% -22% $9,010,900 MM8 Medallion Metals. 0.054 -4% -11% -1% $17,845,681 FFM Firefly Metals Ltd 0.77 -9% 5% 14% $351,207,724 CBY Canterbury Resources 0.055 -8% 104% 3% $9,445,749 LYN Lycaonresources 0.26 -10% 0% 6% $14,305,902 SFR Sandfire Resources 9.295 -3% 2% 196% $4,193,982,672 TMZ Thomson Res Ltd 0.005 0% 0% 0% $4,881,018 TAM Tanami Gold NL 0.035 0% -17% 0% $41,128,397 WMC Wiluna Mining Corp 0 -100% -100% -21% $74,238,031 NWM Norwest Minerals 0.038 -5% -21% 1% $14,748,541 ALK Alkane Resources Ltd 0.5725 -7% -11% -8% $353,041,935 BMO Bastion Minerals 0.009 13% 29% -1% $4,305,838 IDA Indiana Resources 0.078 0% -3% 0% $47,612,503 GSM Golden State Mining 0.011 0% 10% 0% $3,073,077 NSM Northstaw 0.033 -13% -18% -2% $4,615,901 GSN Great Southern 0.02 5% 0% 0% $16,349,674 RED Red 5 Limited 0.4475 -9% 5% 14% $1,576,029,250 DEG De Grey Mining 1.1075 -6% -13% -13% $2,562,315,258 THR Thor Energy PLC 0.017 0% -15% -1% $3,231,439 CDR Codrus Minerals Ltd 0.05 11% 28% -1% $5,624,219 MDI Middle Island Res 0.016 14% -16% 0% $3,485,664 WTM Waratah Minerals Ltd 0.13 24% 24% 1% $20,626,917 POL Polymetals Resources 0.275 -4% -4% -4% $45,709,164 RDS Redstone Resources 0.004 0% 0% 0% $3,701,514 NAG Nagambie Resources 0.011 10% -21% -2% $7,966,357 BGL Bellevue Gold Ltd 1.8975 2% 9% 22% $2,219,289,389 GBR Greatbould Resources 0.058 -9% -9% -1% $35,162,856 KAI Kairos Minerals Ltd 0.0115 -12% -4% 0% $28,830,034 KAU Kaiser Reef 0.145 0% 0% -3% $24,801,365 HRZ Horizon 0.049 -6% 36% 1% $35,049,184 CAI Calidus Resources 0.13 4% 8% -9% $106,032,754 CDT Castle Minerals 0.006 20% 0% 0% $6,122,465 RSG Resolute Mining 0.5175 7% 23% 7% $1,107,106,007 MXR Maximus Resources 0.031 0% -17% 0% $9,949,319 EVN Evolution Mining Ltd 3.82 -3% -3% -14% $7,566,194,258 CXU Cauldron Energy Ltd 0.039 -3% -7% 2% $48,661,225 DLI Delta Lithium 0.3 -10% 0% -17% $228,290,285 ALY Alchemy Resource Ltd 0.007 0% 0% 0% $8,246,534 HXG Hexagon Energy 0.018 -10% -5% 1% $9,232,486 OBM Ora Banda Mining Ltd 0.33 2% 10% 9% $631,212,228 SLR Silver Lake Resource 1.54 -4% 12% 35% $1,448,853,716 AVW Avira Resources Ltd 0.001 0% 0% 0% $2,663,790 LCY Legacy Iron Ore 0.014 -18% -13% 0% $107,989,676 PDI Predictive Disc Ltd 0.18 -5% -16% -3% $433,436,867 MAT Matsa Resources 0.028 -7% -13% 0% $16,514,254 ZAG Zuleika Gold Ltd 0.021 11% 5% 0% $15,457,796 GML Gateway Mining 0.022 29% 16% 0% $7,600,107 SBM St Barbara Limited 0.275 4% 6% 7% $233,121,558 SBR Sabre Resources 0.018 -10% 0% -2% $7,485,239 STK Strickland Metals 0.105 9% -19% 1% $172,645,887 ION Iondrive Limited 0.011 -8% 22% 0% $5,349,138 CEL Challenger Gold Ltd 0.072 -1% -3% 0% $98,094,573 LRL Labyrinth Resources 0.006 20% 0% 0% $7,125,262 NST Northern Star 14.2 -5% -4% 55% $16,322,718,851 OZM Ozaurum Resources 0.064 7% 33% -9% $9,366,250 TG1 Techgen Metals Ltd 0.043 -17% 30% -4% $5,509,700 XAM Xanadu Mines Ltd 0.067 -3% -3% 1% $120,120,421 AQI Alicanto Min Ltd 0.022 5% 0% -1% $13,542,910 KTA Krakatoa Resources 0.017 13% 55% -2% $8,497,930 ARN Aldoro Resources 0.076 9% 9% -5% $10,231,404 WGX Westgold Resources. 2.165 -1% -2% -2% $1,041,970,006 MBK Metal Bank Ltd 0.022 0% 10% -1% $8,590,104 A8G Australasian Metals 0.076 0% 10% -9% $3,961,158 TAR Taruga Minerals 0.008 -11% -11% 0% $6,354,241 DTR Dateline Resources 0.011 0% -15% 0% $17,433,421 GOR Gold Road Res Ltd 1.5925 -2% -2% -37% $1,738,768,024 S2R S2 Resources 0.12 -8% -8% -5% $56,607,249 NES Nelson Resources. 0.003 0% 0% 0% $1,840,783 TLM Talisman Mining 0.345 6% 47% 11% $71,561,733 BEZ Besragoldinc 0.092 -8% 1% -6% $39,301,485 PRU Perseus Mining Ltd 2.435 1% 12% 59% $3,338,312,652 SPQ Superior Resources 0.009 0% -10% 0% $18,010,984 PUR Pursuit Minerals 0.0045 13% -10% 0% $11,775,886 RMS Ramelius Resources 1.995 -2% 1% 31% $2,285,715,304 PKO Peako Limited 0.004 -20% 0% 0% $2,108,339 ICG Inca Minerals Ltd 0.007 17% 40% 0% $6,437,911 A1G African Gold Ltd. 0.029 16% -5% 1% $4,893,178 OAU Ora Gold Limited 0.004 -11% -33% 0% $23,224,004 GNM Great Northern 0.014 40% 27% -1% $2,164,807 KRM Kingsrose Mining Ltd 0.049 9% 36% 1% $39,131,379 BTR Brightstar Resources 0.016 0% -6% 0% $54,867,869 RRL Regis Resources 1.905 -7% -9% -28% $1,480,464,064 M24 Mamba Exploration 0.02 0% -5% -3% $3,865,728 TRM Truscott Mining Corp 0.063 0% -5% 1% $10,922,125 TNC True North Copper 0.075 10% -15% -3% $31,953,216 MOM Moab Minerals Ltd 0.005 0% 0% 0% $4,271,778 KNB Koonenberrygold 0.021 31% 5% -2% $6,331,324 AWJ Auric Mining 0.18 -10% -10% 6% $27,482,374 AZS Azure Minerals 3.69 0% 9% -1% $1,692,527,632 ENR Encounter Resources 0.38 -4% 6% 9% $177,741,331 SNG Siren Gold 0.085 9% 44% 2% $16,185,926 STN Saturn Metals 0.255 4% 6% 9% $61,600,681 USL Unico Silver Limited 0.1625 2% 2% 4% $50,838,770 PNM Pacific Nickel Mines 0.037 6% 3% -5% $15,475,365 AYM Australia United Min 0.002 -33% -33% 0% $3,685,155 ANL Amani Gold Ltd 0.001 0% 0% 0% $25,143,441 HAV Havilah Resources 0.21 0% 11% 2% $68,077,430 SPR Spartan Resources 0.71 2% 17% 19% $795,299,678 PNT Panthermetalsltd 0.048 12% 33% -1% $4,096,810 MEK Meeka Metals Limited 0.037 -3% 3% 0% $45,684,230 GMD Genesis Minerals 1.79 -5% 3% 0% $2,008,260,671 PGO Pacgold 0.165 3% -8% -3% $13,883,998 FEG Far East Gold 0.13 18% 0% 1% $33,486,289 MI6 Minerals260Limited 0.17 6% 10% -15% $40,950,000 IGO IGO Limited 7.365 -5% 3% -169% $5,762,808,057 GAL Galileo Mining Ltd 0.26 -4% -7% -3% $52,370,606 RXL Rox Resources 0.165 -6% -26% -2% $60,943,453 KIN KIN Min NL 0.064 -3% -4% 0% $76,579,786 CLZ Classic Min Ltd 0.0055 -8% -31% -4% $2,033,817 TGM Theta Gold Mines Ltd 0.14 -10% -13% 3% $103,173,277 FAL Falconmetalsltd 0.16 10% 23% 2% $27,435,000 SXG Southern Cross Gold 2.74 -3% 32% 148% $520,963,673 SPD Southernpalladium 0.53 -4% 6% 16% $22,831,513 ORN Orion Minerals Ltd 0.02 5% 5% 1% $121,057,150 TMB Tambourahmetals 0.072 -5% -13% -4% $5,888,765 TMS Tennant Minerals Ltd 0.023 -4% -4% -1% $21,985,480 AZY Antipa Minerals Ltd 0.013 0% 8% 0% $53,814,143 PXX Polarx Limited 0.0125 -11% -4% 1% $26,643,769 TRE Toubani Res Ltd 0.135 0% 0% -1% $24,263,152 AUN Aurumin 0.043 8% -4% 2% $18,550,899 GPR Geopacific Resources 0.025 9% -7% 1% $22,800,149 FXG Felix Gold Limited 0.055 -23% -20% 1% $12,432,907 ILT Iltani Resources Lim 0.305 -10% 74% 15% $11,563,572 ARD Argent Minerals 0.0205 -2% 8% 1% $25,890,736
Notable weekly winners
Australian Gold and Copper (ASX:AGC) +73%
Native Mineral Resources (ASX:NMR) +64%
Koonenberry Gold (ASX:KNB) +31%
Ausgold (ASX:AUC) +29%
The post Gold Digger: Some gains given up… but we’re heading to a ‘global gold standard’ says Forbes appeared first on Stockhead.
