Gold hit an all-time high this week of US$2483.60
Shaw & Partners predicts US$3000/oz for 2025 and 2026
Labyrinth navigates gold acquisitions for a 180% gain
Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.
This week’s episode of ‘Only in America’ saw Trump literally earmarked to become the next president after surviving an assassination attempt at a Pennsylvania rally. If he hadn’t moved his head at the last second imagine what that would’ve meant for gold, master of uncertainty and chaos.
Gold is still forecast to go gangbusters. As it hit all-time highs of US$2483.60 earlier this week analysts are pegging a continued rise for bullion ahead of expected US Fed interest rate cuts and a US Election outcome which, either way, is unlikely to make the world any more stable.
Gold bulls see prices rise
Finance analysts Shaw & Partners have gone gangbusters bullish on gold, upgrading price predictions almost 40% over the next 24 months, with new outlooks rocketing from US$2250 in 2025 and US$2150 for 2026 up to US$3000 for both years.
The group proposes an overweight exposure to bullion – with strong buy recommendations for a bunch of ASX listed goldies from head of research Andrew Hines, along with fellow analysts Peter Kormendy and Dorab Postmaster:
Ramelius Resources (ASX:RMS) BUY, $2.73 – Ramelius is one of the lowest cost significant (+200Kozpa) gold producers on the ASX.
Genesis Minerals (ASX:GMD) BUY, $2.75 – Genesis has the asset base and management to develop into a 400kozpa gold producer.
Southern Cross Gold (ASX:SXG), BUY, $3.26 – Southern Cross Gold is looking to double its exploration target to 3Moz in the next 12 months.
Black Cat Syndicate (ASX:BC8), BUY, $0.86 – Black Cat is on track to achieving a production rate of +70kozpa from two assets by mid-2025.
Saturn Metals (ASX:STN) BUY, $0.37 – The first phase of the Apollo Hill project will involve a low-cost starter pit and pilot plant, due to be producing in 2025.
Antipa Minerals (ASX:AZY) BUY, $0.04 – Resource upgrades expected across multiple prospects at Minyari Dome (100% owned).
AuMega Metals (ASX:AAM) BUY, $0.19 – The company has a plethora of high-impact greenfield targets that are currently being tested.
Morgan Stanley echoes the bull run of gold with its own price target for the December quarter this year to come in at US$2650, despite foreseeable market ructions out of the US.
“Continued volatility is likely as incoming US data influences expectations on rate cut timing, but we think the broad direction for gold should be higher,” commodity strategist Amy Gower says.
“While US recession fears are rising, our economists still see a soft landing with a stronger Fed reaction if the data turns weaker, either of which should support investor gold inflows.”
The shiny currency of war
Yet the most consistent underlying upward pressure on prices is the plain, simple and unmitigated fact that gold is the world’s conflict currency.
The war in Ukraine is still ticking along just as heatedly as it was when it was deemed newsworthy enough for a 15-minute lead segment across nightly news cycles.
Paying for the conflict still costs about US$250 billion each year – roughly the same value as the 3000 tonnes (adding about an extra 1% each year to the total stockpile) of annual global gold production.
And unfortunately, it’s fair to say that waging war is as consistent a human reality as death and taxes.
Turning to ASX-listed goldies, we’ve got a few tasty stocks that have been in the news this week to whet your appetite.
Winners & Losers
Here’s how ASX-listed precious metals stocks are performing:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.
Stocks missing from this list? Email [email protected]
CODE COMPANY PRICE WEEK RETURN% MONTH RETURN % 6 MONTH RETURN % YEAR RETURN % MARKET CAP LRL Labyrinth Resources $0.01 200% 100% 140% 50% $16,625,612 NSM Northstaw $0.02 18% -59% 82% -73% $2,797,516 PKO Peako Limited $0.00 30% 30% 73% -35% $2,846,152 M2R Miramar $0.01 29% -58% 57% -74% $2,566,067 MCT Metalicity Limited $0.00 50% 50% 50% 50% $8,971,705 MDI Middle Island Res $0.02 50% 24% 50% -33% $3,703,518 CY5 Cygnus Metals Ltd $0.06 21% -37% 47% -80% $17,601,548 FEG Far East Gold $0.18 67% 30% 46% -42% $50,229,433 REZ Resources & Energy Group $0.02 83% 69% 38% 10% $11,316,185 FAL Falcon Metals $0.35 43% 180% 32% 63% $61,065,000 ADN Andromeda Metals Ltd $0.02 11% -19% 31% -43% $71,536,231 KNB Koonenberry Gold $0.02 0% -72% 31% -32% $4,892,387 PUA Peak Minerals Ltd $0.01 67% 67% 25% 43% $5,986,883 BYH Bryah Resources Ltd $0.01 -29% -62% 25% -71% $2,516,434 FG1 Flynn Gold $0.03 39% -39% 23% -39% $6,618,162 GSM Golden State Mining $0.01 26% 0% 20% -66% $3,352,448 ZAG Zuleika Gold Ltd $0.02 -5% -10% 20% 20% $13,335,839 NES Nelson Resources $0.00 0% -40% 20% -50% $1,227,189 CST Castile Resources $0.08 5% 28% 19% 6% $19,594,097 OZM Ozaurum Resources $0.06 21% -45% 18% 23% $10,160,000 HAW Hawthorn Resources $0.07 1% -28% 18% -51% $23,451,093 CYL Catalyst Metals $1.78 89% 162% 18% 137% $395,265,277 HMG Hamelin Gold $0.10 25% 28% 18% -9% $15,750,000 MEK Meeka Metals Limited $0.04 21% 0% 18% 14% $50,623,066 FXG Felix Gold Limited $0.05 -4% 2% 18% -53% $10,017,159 TBR Tribune Resources $3.91 16% 33% 17% 12% $205,150,181 EMC Everest Metals Corp $0.14 8% 75% 17% -25% $22,178,220 RGL Rivers Gold $0.01 17% -36% 17% -42% $7,862,249 PNT Panther Metals $0.04 24% -40% 16% -49% $3,137,982 CAZ Cazaly Resources $0.02 15% -15% 15% -43% $9,687,363 PNM Pacific Nickel Mines $0.02 -25% -60% 14% -70% $10,038,075 TRE Toubani Res Ltd $0.20 14% 67% 14% 5% $33,466,416 ARN Aldoro Resources $0.08 24% -2% 14% -41% $11,173,771 AUN Aurumin $0.04 5% 37% 14% 52% $18,684,266 LCY Legacy Iron Ore $0.02 21% 6% 13% -15% $131,130,320 PGD Peregrine Gold $0.22 5% -33% 13% -25% $13,575,684 MM8 Medallion Metals $0.06 19% 5% 13% -19% $19,999,470 AUC Ausgold Limited $0.04 9% 46% 12% -16% $113,247,790 AVM Advance Metals Ltd $0.03 32% -13% 12% -78% $3,926,961 HMX Hammer Metals Ltd $0.04 21% -5% 11% -47% $36,342,701 VRC Volt Resources Ltd $0.01 0% -23% 11% -55% $16,634,713 GIB Gibb River Diamonds $0.04 -13% 32% 11% 14% $8,460,378 SSR SSR Mining Inc $7.89 14% -48% 11% -63% $34,521,302 ZNC Zenith Minerals Ltd $0.05 -25% -68% 11% -44% $19,380,949 OBM Ora Banda Mining Ltd $0.43 13% 87% 10% 274% $826,651,444 NMR Native Mineral Res $0.02 -24% 38% 10% -39% $4,197,010 MKG Mako Gold $0.01 10% 22% 10% -63% $10,248,086 OAU Ora Gold Limited $0.01 22% -21% 10% -8% $39,276,378 GMD Genesis Minerals $2.15 22% 35% 10% 65% $2,412,292,284 VMC Venus Metals Cor Ltd $0.08 7% -16% 9% -35% $15,178,295 GNM Great Northern $0.01 0% -37% 9% -54% $1,855,549 AZY Antipa Minerals Ltd $0.01 0% -20% 9% -25% $56,520,593 STK Strickland Metals $0.10 -12% -1% 9% 162% $210,183,815 BNR Bulletin Res Ltd $0.05 26% -51% 9% -17% $13,799,826 A1G African Gold Ltd. $0.03 9% -21% 9% -45% $5,980,393 SPD Southern Palladium $0.39 -7% 22% 8% 7% $33,207,500 WA8 Warriedar Resources $0.07 39% 15% 8% -15% $54,006,887 WTM Waratah Minerals Ltd $0.28 175% 224% 8% 112% $50,222,059 KCC Kincora Copper $0.06 -13% 40% 8% -19% $11,691,411 TLM Talisman Mining $0.28 4% 19% 8% 75% $54,612,901 NST Northern Star $14.30 8% 18% 8% 7% $16,686,117,064 MEI Meteoric Resources $0.15 -15% -38% 7% -38% $278,616,778 YRL Yandal Resources $0.15 36% 36% 7% 200% $41,510,180 KAL Kalgoorlie Gold Mining $0.03 -3% 15% 7% -21% $4,755,022 TCG Turaco Gold Limited $0.23 18% 73% 7% 350% $179,637,334 KRM Kingsrose Mining Ltd $0.05 2% 15% 7% -35% $33,111,167 WWI West Wits Mining Ltd $0.02 23% 33% 7% -11% $38,125,902 TRM Truscott Mining Corp $0.06 7% 29% 7% 57% $11,169,024 SPR Spartan Resources $1.05 31% 160% 7% 426% $1,184,337,938 RSG Resolute Mining $0.65 30% 57% 7% 47% $1,394,527,759 LYN Lycaon Resources $0.33 55% 63% 7% 14% $16,425,295 EVN Evolution Mining Ltd $4.00 12% 29% 6% 5% $8,122,240,030 A8G Australasian Metals $0.07 -8% -48% 6% -56% $3,648,435 MKR Manuka Resources $0.04 -5% -49% 6% -38% $28,071,636 HRN Horizon Gold Ltd $0.30 5% -2% 5% -15% $40,555,178 GSN Great Southern $0.02 33% 11% 5% 0% $16,911,674 DEG De Grey Mining $1.22 19% 6% 5% -16% $2,959,893,019 AQI Alicanto Min Ltd $0.02 21% -35% 5% -40% $12,927,323 S2R S2 Resources $0.11 5% -24% 5% -46% $54,342,959 WGX Westgold Resources. $2.67 17% 32% 5% 64% $1,294,574,892 GPR Geopacific Resources $0.02 10% 44% 5% 10% $20,976,137 HAV Havilah Resources $0.24 31% 38% 4% 4% $75,993,410 BNZ Benz Mining $0.12 -11% -43% 4% -74% $14,025,495 EMU EMU NL $0.02 -8% -13% 4% -56% $3,262,979 GML Gateway Mining $0.03 4% 14% 4% -43% $10,281,945 PXX Polarx Limited $0.01 -4% 43% 4% -1% $26,656,272 KTA Krakatoa Resources $0.01 13% -36% 4% -63% $6,137,394 TNC True North Copper $0.05 6% -28% 4% -76% $43,774,510 LAT Latitude 66 Limited $0.14 6900% -7% 4% -30% $20,679,331 GBR Greatbould Resources $0.06 -10% -5% 4% -27% $33,964,409 MAU Magnetic Resources $1.20 15% 33% 3% 59% $309,600,712 MXR Maximus Resources $0.03 3% -24% 3% -9% $13,265,758 BMR Ballymore Resources $0.16 -6% 14% 3% 7% $28,276,894 TAM Tanami Gold NL $0.03 3% -9% 3% -20% $37,603,105 G50 G50Corp Ltd $0.17 0% 38% 3% -13% $21,583,800 GED Golden Deeps $0.03 -17% -15% 3% -62% $4,244,532 CPM Cooper Metals $0.07 -1% -78% 3% -50% $5,406,540 KAU Kaiser Reef $0.17 13% 33% 3% -15% $34,755,462 KCN Kingsgate Consolidated $1.63 -1% 33% 3% 16% $433,022,843 NWM Norwest Minerals $0.04 48% 42% 3% -39% $14,748,541 USL Unico Silver Limited $0.19 31% 81% 3% 52% $56,819,802 RRL Regis Resources $1.92 12% -7% 2% -13% $1,476,687,370 GOR Gold Road Res Ltd $1.80 13% 7% 2% 11% $1,982,520,550 CMM Capricorn Metals $5.37 14% 25% 2% 14% $2,053,752,489 PRU Perseus Mining Ltd $2.69 15% 54% 2% 52% $3,755,728,649 ADV Ardiden Ltd $0.14 4% -20% 2% -53% $8,439,863 RXL Rox Resources $0.15 9% -4% 2% -46% $63,122,547 KZR Kalamazoo Resources $0.08 -6% -22% 1% -48% $14,389,346 CWX Carawine Resources $0.09 -14% -18% 1% -21% $20,306,789 WAF West African Res Ltd $1.44 1% 54% 1% 59% $1,694,532,279 MTC Metalstech Ltd $0.23 -4% 5% 0% -2% $46,200,620 G88 Golden Mile Res Ltd $0.01 0% -31% 0% -78% $4,523,451 AQX Alice Queen Ltd $0.01 33% 14% 0% -45% $9,175,121 SLZ Sultan Resources Ltd $0.01 -20% -49% 0% -80% $1,580,692 IVR Investigator Res Ltd $0.05 -2% 41% 0% -11% $79,193,979 MOH Moho Resources $0.01 71% -40% 0% -57% $2,695,891 MRZ Mont Royal Resources $0.07 8% -40% 0% -70% $5,611,966 PRX Prodigy Gold NL $0.00 20% -50% 0% -50% $6,353,323 AAU Antilles Gold Ltd $0.00 -13% -84% 0% -90% $5,845,711 DRE Dreadnought Resources Ltd $0.02 10% -18% 0% -62% $77,287,605 AS1 Asara Resources Ltd $0.01 0% -17% 0% -70% $8,821,754 MLS Metals Australia $0.02 -5% -47% 0% -41% $13,788,671 SRN Surefire Rescs NL $0.01 -13% -22% 0% -56% $13,904,155 SIH Sihayo Gold Limited $0.00 0% 0% 0% 0% $30,510,640 AME Alto Metals Limited $0.04 3% -5% 0% -42% $27,417,881 CTO Citigold Corp Ltd $0.00 0% -20% 0% -20% $12,000,000 SVG Savannah Goldfields $0.04 64% -8% 0% -65% $10,119,057 AAR Astral Resources NL $0.08 1% 20% 0% 8% $78,556,593 NAE New Age Exploration $0.00 0% -20% 0% -20% $7,175,596 LCL LCL Resources Ltd $0.01 -10% -40% 0% -76% $7,719,024 RMX Red Mount Min Ltd $0.00 0% -62% 0% -77% $3,423,577 PRS Prospech Limited $0.04 6% -18% 0% 16% $10,894,599 NML Navarre Minerals Ltd $0.02 0% 0% 0% 0% $28,555,654 BCN Beacon Minerals $0.03 4% 4% 0% -16% $97,675,972 BC8 Black Cat Syndicate $0.36 38% 67% 0% -16% $141,979,393 EMR Emerald Res NL $3.96 13% 21% 0% 72% $2,650,695,146 AAJ Aruma Resources Ltd $0.01 -25% -56% 0% -73% $2,559,590 AL8 Alderan Resource Ltd $0.00 14% -20% 0% -56% $4,427,445 GMN Gold Mountain Ltd $0.00 0% -25% 0% -67% $9,533,230 TBA Tombola Gold Ltd $0.03 0% 0% 0% 0% $33,129,243 ANX Anax Metals Ltd $0.03 -13% 8% 0% -59% $17,974,245 SFM Santa Fe Minerals $0.03 -20% -26% 0% -29% $2,330,201 X64 Ten Sixty Four Ltd $0.57 0% 0% 0% 0% $130,184,182 SI6 SI6 Metals Limited $0.00 -33% -60% 0% -67% $4,737,719 SVY Stavely Minerals Ltd $0.03 -20% -36% 0% -69% $13,662,749 TMZ Thomson Res Ltd $0.01 0% 0% 0% 0% $4,881,018 BMO Bastion Minerals $0.01 0% -63% 0% -79% $2,610,503 IDA Indiana Resources $0.09 6% 8% 0% 18% $53,921,558 CDR Codrus Minerals Ltd $0.04 -27% -43% 0% -50% $6,119,338 KAI Kairos Minerals Ltd $0.01 0% -31% 0% -63% $26,209,122 CAI Calidus Resources $0.12 0% -45% 0% -41% $93,678,206 CXU Cauldron Energy Ltd $0.03 -7% -41% 0% 306% $31,889,796 ALY Alchemy Resource Ltd $0.01 0% -11% 0% -43% $8,246,534 HXG Hexagon Energy $0.02 45% 60% 0% 45% $6,667,907 AVW Avira Resources Ltd $0.00 0% -50% 0% -50% $2,938,790 PDI Predictive Disc Ltd $0.21 11% 5% 0% 24% $481,114,907 SBM St Barbara Limited $0.23 2% 25% 0% -21% $196,312,891 SBR Sabre Resources $0.01 -18% -53% 0% -60% $5,501,467 ION Iondrive Limited $0.01 -25% -25% 0% -55% $5,443,709 XAM Xanadu Mines Ltd $0.06 -2% 13% 0% -31% $102,960,361 MBK Metal Bank Ltd $0.02 5% -15% 0% -17% $8,980,564 TAR Taruga Minerals $0.01 29% 13% 0% -25% $6,354,241 DTR Dateline Resources $0.01 -40% -33% 0% -74% $8,745,282 PUR Pursuit Minerals $0.00 0% -57% 0% -77% $10,906,200 ANL Amani Gold Ltd $0.00 0% 0% 0% 0% $25,743,441 CLZ Classic Min Ltd $0.00 -67% -98% 0% -98% $1,006,928 TMB Tambourahmetals $0.05 -26% -48% 0% -76% $4,064,077 IGO IGO Limited $5.91 -2% -17% 0% -60% $4,445,162,062 RMS Ramelius Resources $1.94 5% 28% -1% 45% $2,287,993,320 RND Rand Mining Ltd $1.49 5% 8% -1% 21% $84,460,802 ALK Alkane Resources Ltd $0.53 -2% -7% -1% -34% $331,919,768 FFM Firefly Metals Ltd $0.80 15% 51% -1% 37% $403,794,688 KSN Kingston Resources $0.08 1% 7% -1% -1% $56,561,598 ERM Emmerson Resources $0.06 13% 27% -2% -5% $33,772,007 POL Polymetals Resources $0.29 12% 2% -2% 7% $54,651,790 KIN KIN Min NL $0.06 0% -5% -2% 41% $68,332,732 HCH Hot Chili Ltd $0.95 3% -3% -2% -35% $140,751,042 ARL Ardea Resources Ltd $0.46 -11% 6% -2% -37% $91,854,141 GUL Gullewa Limited $0.07 0% 29% -3% 29% $14,948,436 SKY SKY Metals Ltd $0.03 6% -8% -3% -35% $20,634,361 MTH Mithril Resources $0.17 -3% -18% -3% -34% $16,925,077 SMI Santana Minerals Ltd $1.16 10% -11% -3% 104% $244,665,688 LEX Lefroy Exploration $0.08 -4% -49% -4% -66% $16,036,679 QML Qmines Limited $0.05 -5% -28% -4% -60% $12,622,009 RED Red 5 Limited $0.41 -10% 40% -4% 103% $2,823,026,454 CEL Challenger Gold Ltd $0.05 -9% -26% -4% -45% $75,804,361 MAT Matsa Resources $0.03 -7% -11% -4% -29% $13,761,879 AWJ Auric Mining $0.23 39% 92% -4% 400% $34,167,275 MEU Marmota Limited $0.04 -4% 0% -4% 16% $47,809,447 CBY Canterbury Resources $0.04 -4% 72% -4% 43% $7,384,859 AMI Aurelia Metals Ltd $0.21 20% 110% -5% 123% $363,686,385 TMS Tennant Minerals Ltd $0.02 -5% -36% -5% -43% $21,029,589 AGC AGC Ltd $0.31 -3% 369% -5% 455% $74,872,656 MRR Minrex Resources Ltd $0.01 -5% -32% -5% -37% $10,306,241 AM7 Arcadia Minerals $0.04 -24% -46% -5% -68% $4,447,904 DTM Dart Mining NL $0.02 -10% 20% -5% -53% $4,910,225 HRZ Horizon $0.04 -8% -3% -5% -8% $39,149,569 THR Thor Energy PLC $0.02 6% -56% -6% -62% $3,995,417 STN Saturn Metals $0.17 -11% -8% -6% 0% $48,936,826 ARD Argent Minerals $0.02 13% 89% -6% 13% $24,368,236 NPM Newpeak Metals $0.02 -20% -6% -6% -82% $4,762,214 BCM Brazilian Critical $0.02 0% -36% -6% -70% $13,291,831 GRL Godolphin Resources $0.02 -16% -62% -6% -62% $3,422,260 BGD Barton Gold holdings $0.24 -16% 0% -6% -6% $54,664,731 BTR Brightstar Resources $0.02 7% 14% -6% 45% $80,277,801 ORN Orion Minerals Ltd $0.02 0% 23% -6% -6% $98,527,224 IPT Impact Minerals $0.02 -12% 25% -6% 0% $48,950,939 EM2 Eagle Mountain $0.06 9% -18% -6% -51% $23,572,495 PNR Pantoro Limited $0.09 5% 93% -6% 2% $580,862,746 TTM Titan Minerals $0.04 17% 83% -7% -39% $82,727,056 FML Focus Minerals Ltd $0.14 -15% -22% -7% -28% $38,685,417 GWR GWR Group Ltd $0.08 -8% -6% -7% -2% $25,697,332 CLA Celsius Resource Ltd $0.01 18% 18% -7% -48% $33,990,778 NXM Nexus Minerals Ltd $0.04 -5% -14% -7% -34% $14,784,285 M24 Mamba Exploration $0.01 -29% -78% -8% -82% $2,577,152 SNG Siren Gold $0.07 -21% 0% -8% -40% $14,875,740 GAL Galileo Mining Ltd $0.17 -26% -23% -8% -70% $34,584,362 SFR Sandfire Resources $8.34 -2% 27% -8% 35% $3,947,065,430 ILT Iltani Resources Lim $0.22 -21% 16% -8% -8% $7,822,416 AAM Aumega Metals $0.05 2% 59% -8% -5% $28,395,053 SVL Silver Mines Limited $0.16 -6% 0% -9% -21% $233,745,620 NVA Nova Minerals Ltd $0.20 0% -38% -9% -35% $46,774,872 SPQ Superior Resources $0.01 43% -33% -9% -64% $20,012,204 BGL Bellevue Gold Ltd $1.82 1% 28% -9% 17% $2,172,195,715 TG1 Techgen Metals Ltd $0.03 -3% -52% -10% -56% $3,587,712 ASO Aston Minerals Ltd $0.01 -18% -55% -10% -87% $11,655,578 VKA Viking Mines Ltd $0.01 29% -36% -10% -25% $9,227,326 GBZ GBM Rsources Ltd $0.01 -10% 13% -10% -50% $10,410,200 BM8 Battery Age Minerals $0.13 -21% -30% -10% -73% $13,023,380 RDN Raiden Resources Ltd $0.03 -13% -7% -10% 225% $70,690,424 PNX PNX Metals Limited $0.00 0% 0% -11% 33% $23,880,859 GTR Gti Energy Ltd $0.00 -20% -67% -11% -47% $10,154,988 SMS Star Minerals $0.03 7% -25% -12% -33% $2,781,684 DLI Delta Lithium $0.22 0% -24% -12% -74% $164,083,643 TSO Tesoro Gold Ltd $0.03 -9% 12% -12% 7% $38,117,002 SXG Southern Cross Gold $2.19 4% 116% -12% 410% $440,842,361 CDT Castle Minerals $0.00 -46% -42% -13% -75% $4,647,392 WCN White Cliff Min Ltd $0.01 -7% -19% -13% 18% $21,117,036 ADT Adriatic Metals $3.28 -17% -4% -13% 2% $928,927,678 CHN Chalice Mining Ltd $1.12 -18% 5% -14% -81% $457,031,882 GUE Global Uranium $0.08 -18% -53% -14% -32% $21,520,666 TMX Terrain Minerals $0.00 -14% -40% -14% -50% $4,295,012 MVL Marvel Gold Limited $0.01 -25% -45% -14% -45% $5,182,744 ASR Asra Minerals Ltd $0.01 50% 0% -14% -37% $12,216,476 MOM Moab Minerals Ltd $0.01 50% -14% -14% -33% $4,762,885 NAG Nagambie Resources $0.01 -23% -70% -15% -78% $7,169,721 ICL Iceni Gold $0.07 -3% 22% -15% -43% $19,093,274 RDS Redstone Resources $0.01 25% 0% -17% -29% $4,626,892 ICG Inca Minerals Ltd $0.01 -38% -42% -17% -84% $4,052,682 ARV Artemis Resources $0.01 -25% -50% -18% -44% $19,168,824 MI6 Minerals260Limited $0.14 8% -46% -18% -80% $33,930,000 FAU First Au Ltd $0.00 -33% -33% -20% -33% $3,323,987 MEG Megado Minerals Ltd $0.01 -11% -70% -20% -89% $2,035,644 PGO Pacgold $0.14 27% -26% -20% -58% $11,780,362 LM8 Lunnonmetalslimited $0.16 -24% -64% -23% -84% $33,765,722 MHC Manhattan Corp Ltd $0.00 -25% -63% -25% -85% $4,405,470 TGM Theta Gold Mines Ltd $0.13 -7% 24% -26% 51% $92,500,179 ENR Encounter Resources $0.62 105% 120% -27% 54% $297,546,516 BEZ Besra Gold $0.07 -32% -50% -32% -76% $27,594,660 ADG Adelong Gold Limited $0.00 -50% -11% -33% -56% $4,471,956 RML Resolution Minerals $0.00 -20% -33% -33% -60% $3,220,044
Top ASX Stories This Week
Labyrinth Resources (ASX:LRL) wins the gold medal this week after it entered a 12-month option to acquire the remaining 49% of the Comet Vale gold project from Sand Queen Gold Mines for a cool $3m cash.
It also caught the eyes of investors by announcing the purchase of the Vivien gold project, just 6km from Gold Fields’ Agnew mining operation.
Distilled endors Alex Hewitt and Kelvin Flynn are expected to emerge with 12.3% and 10.2% voting power in LRL once transactions are finalised.
Shares in the minnow rose 180% this week to trade at 1.4c.
Meanwhile, finance issues with Besra Gold (ASX:BEZ) major shareholder and Bau project backer Quantum Minerals have not stopped the developer getting delivery of equipment for its Jugan Pilot plant completed that will process 50t per day and trial optimal protocols for the 960,000oz resource in Malaysia.
Ongoing exploration is predicted to add ounces towards an additional exploration target ranging from 4.9-9.3Moz.
First Quantum and BEZ are committed to the gold purchase agreement that had recently fallen to the wayside.
“Having provided Besra with in excess of US$25.6 million in working capital pursuant to our Gold Purchase Agreement, as chairman of Quantum I irrevocably confirm Quantum’s ongoing support for Besra, [and our commitment] to bringing the Bau gold project into commercial production as quickly as possible,” Besra and Quantum’s Dato Lim says.
At Stockhead we tell it like it is. While Besra Gold is a Stockhead advertiser at the time of writing, it did not sponsor this article.
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