US rate cuts spark new gold highs up to US$2670/oz
De Grey hits 9-month stock price high after it baulks at Agnico takeover offer
And Strickland spots more shiny metal in the Balkans
As Melburnians get a public holiday ahead of hosting an AFL Grand Final that no Victorian teams are in (once again), the rest of the country is still dazzled by gold’s all-time highs and probably thinking when, if ever, will the gold bull run end?
Analysts across the board see a long-term price increase for bullion and today’s Benchmark Market Intelligence (BMI) report has revised its forecast for gold to trade between US$2500-US$2800/oz in the coming months – a huge uptick from the US$1943/oz average seen last year due to US Fed rate cuts.
“A weaker US dollar and lower bond yields have ignited a gold price rally, even after prices had risen persistently in the last few months over expectations of the same,” BMI says.
“We note that the US Fed rate cut comes against a myriad of geopolitical tensions, with conflict in the Middle East and the upcoming presidential elections in the US at the forefront.”
That’s comparatively bearish against other analysts such as Citi Research, which has gold geared towards US$3000/oz by the middle of next year, according to Reuters.
BMI, however, does see bullion dropping to US$2200/oz in 2026, US$2000/oz in 2027 and US$1900/oz in 2028, while Bloomberg consensus has gold at US$2257/oz in 2028.
Its analysts are now ‘neutral to bullish’ for at least the December and January quarters with rate cuts and geopolitical tension dominating the economic news cycle, barring what transpires during November’s US Presidential Election.
“That said, we note some downside risks to gold, especially if Trump wins the US elections in December, which would support the US dollar and pressure gold,” BMI said in a note earlier today.
“In the longer term, we expect gold prices to remain elevated in the coming years compared to pre-Covid levels.”
Winners & Losers
Here’s how ASX-listed precious metals stocks are performing:
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CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.008 0% -11% -6% -41% -45% -1% $8,678,940 NPM Newpeak Metals 0.013 0% -24% -7% 32% -85% 0% $3,970,266 ASO Aston Minerals Ltd 0.014 8% 8% 56% 8% -59% -1% $16,835,835 MTC Metalstech Ltd 0.175 0% 3% -5% 13% 17% -5% $34,450,217 GED Golden Deeps 0.038 0% -3% 36% -22% -31% -1% $5,757,849 G88 Golden Mile Res Ltd 0.01 0% 11% 0% -17% -67% -1% $4,112,229 LAT Latitude 66 Limited 0.13 8% 18% 8% -35% -35% -7% $17,113,929 NMR Native Mineral Res 0.021 -9% 0% 5% -13% -50% 0% $9,162,582 AQX Alice Queen Ltd 0.009 0% 13% 0% 80% -19% 0% $10,322,011 SLZ Sultan Resources Ltd 0.006 0% 0% -14% -50% -71% -2% $1,185,519 MKG Mako Gold 0.009 0% 13% 0% -25% -31% 0% $8,879,572 KSN Kingston Resources 0.086 4% 8% 9% 0% 11% 1% $58,682,658 AMI Aurelia Metals Ltd 0.175 3% 3% 0% 17% 92% 7% $287,565,979 GIB Gibb River Diamonds 0.044 -2% 7% 10% 69% 63% 1% $9,652,925 KCN Kingsgate Consolid. 1.385 -5% 7% 4% 17% 17% 1% $376,317,470 TMX Terrain Minerals 0.004 0% 33% 33% 0% -20% 0% $7,200,115 BNR Bulletin Res Ltd 0.043 -9% 0% -12% -35% -40% -10% $13,799,826 NXM Nexus Minerals Ltd 0.042 -2% -9% -18% -13% -18% -1% $20,911,982 SKY SKY Metals Ltd 0.04 -2% -5% 25% 25% -13% 0% $24,171,680 LM8 Lunnonmetalslimited 0.1525 2% 2% -8% -45% -80% -45% $33,070,312 CST Castile Resources 0.076 -4% 3% 9% 4% 52% -1% $19,110,292 YRL Yandal Resources 0.09 -3% -22% -36% 0% 76% 1% $24,906,108 FAU First Au Ltd 0.0015 0% 0% -25% -25% -40% 0% $2,717,990 ARL Ardea Resources Ltd 0.41 0% 0% -5% -45% -33% -7% $81,869,995 GWR GWR Group Ltd 0.078 0% -5% 1% -22% -7% -2% $25,054,899 IVR Investigator Res Ltd 0.036 -3% -3% -5% -10% -12% 0% $58,788,544 GTR Gti Energy Ltd 0.0045 13% -10% 50% -44% -55% 0% $10,686,506 IPT Impact Minerals 0.013 0% 0% 0% -7% 8% 0% $39,772,638 BNZ Benzmining 0.18 0% 38% 29% 13% -59% -7% $19,232,267 MOH Moho Resources 0.007 17% 17% 56% 40% -22% 0% $3,235,069 BCM Brazilian Critical 0.012 0% -8% -8% -45% -56% -1% $9,968,873 PUA Peak Minerals Ltd 0.002 0% -20% 0% -20% -20% 0% $4,994,221 MRZ Mont Royal Resources 0.052 0% 0% -19% -26% -73% -10% $4,421,549 SMS Starmineralslimited 0.049 0% 48% 58% 29% 23% 1% $4,641,417 MVL Marvel Gold Limited 0.011 10% 0% 38% 10% 10% 0% $8,637,907 PRX Prodigy Gold NL 0.002 0% 0% 0% -55% -72% 0% $4,235,549 AAU Antilles Gold Ltd 0.003 -25% 0% -25% -85% -88% -2% $7,422,971 CWX Carawine Resources 0.094 0% 2% 3% -15% -29% -2% $22,195,792 RND Rand Mining Ltd 1.785 2% 10% 12% 30% 37% 42% $99,532,932 CAZ Cazaly Resources 0.015 0% 7% -6% -17% -59% -1% $6,919,545 BMR Ballymore Resources 0.14 8% 0% 17% 12% 40% 2% $22,974,976 DRE Dreadnought Resources Ltd 0.016 7% 7% -11% -11% -69% -1% $56,287,500 ZNC Zenith Minerals Ltd 0.043 0% 2% 8% -53% -53% -11% $15,152,378 REZ Resourc & En Grp Ltd 0.025 6% 0% -11% 150% 56% 1% $15,724,769 LEX Lefroy Exploration 0.076 3% -1% -22% -24% -58% -10% $14,833,928 ERM Emmerson Resources 0.045 0% -10% -15% -8% -30% -1% $24,511,940 AM7 Arcadia Minerals 0.034 -6% -8% 13% -55% -68% -4% $4,213,804 ADT Adriatic Metals 3.53 2% 8% 15% -9% 0% -48% $968,540,393 AS1 Asara Resources Ltd 0.015 0% 7% 36% 88% -32% 1% $13,232,630 CYL Catalyst Metals 2.785 1% 5% 30% 332% 468% 198% $625,417,647 CHN Chalice Mining Ltd 1.505 4% 2% 31% 46% -34% -19% $562,143,709 KAL Kalgoorliegoldmining 0.025 4% 4% 0% 0% -17% 0% $6,482,786 MLS Metals Australia 0.024 0% 0% 23% 4% -27% -1% $17,453,269 ADN Andromeda Metals Ltd 0.007 0% -7% -22% -68% -67% -2% $23,755,230 MEI Meteoric Resources 0.1175 7% 21% 12% -50% -50% -14% $252,033,233 SRN Surefire Rescs NL 0.007 17% 17% 40% -30% -53% 0% $11,917,847 WA8 Warriedar Resources 0.061 11% 5% -13% 36% -16% 1% $41,979,594 HMX Hammer Metals Ltd 0.037 -3% 3% -8% -8% -18% -2% $33,683,479 WCN White Cliff Min Ltd 0.02 -5% 0% 43% 33% 54% 1% $34,217,136 AVM Advance Metals Ltd 0.021 5% -5% -13% -40% -79% -2% $3,369,983 ASR Asra Minerals Ltd 0.005 0% 0% -17% 11% -41% 0% $11,157,790 ARI Arika Resources 0.029 0% 53% 45% 45% 93% 0% $14,458,951 AME Alto Metals Limited 0.062 -9% -3% 0% 107% 35% 2% $49,063,576 CTO Citigold Corp Ltd 0.003 -25% -40% -25% -40% -33% 0% $12,000,000 SMI Santana Minerals Ltd 2.32 -4% 8% 41% 87% 322% 131% $506,965,689 M2R Miramar 0.007 0% -22% -22% -59% -86% -1% $2,777,763 MHC Manhattan Corp Ltd 0.001 0% 0% 0% -60% -83% 0% $3,092,533 GRL Godolphin Resources 0.014 -7% -18% 8% -61% -61% -3% $3,208,368 SVG Savannah Goldfields 0.022 0% -12% -8% -15% -65% -3% $6,183,868 EMC Everest Metals Corp 0.125 0% 4% 14% 56% 14% 5% $23,285,389 GUL Gullewa Limited 0.065 0% 0% 0% 18% 18% 1% $13,310,252 CY5 Cygnus Metals Ltd 0.075 0% 3% 14% 47% -58% -6% $28,483,867 G50 G50Corp Ltd 0.155 19% 15% 24% 7% 24% 2% $15,718,300 ADV Ardiden Ltd 0.135 -4% 0% 13% -16% -37% -4% $8,752,451 AAR Astral Resources NL 0.1075 -2% -2% 28% 79% 33% 3% $102,871,729 VMC Venus Metals Cor Ltd 0.061 0% -2% -13% -42% -51% -4% $11,573,450 NAE New Age Exploration 0.0065 8% 63% 63% 63% -7% 0% $10,763,393 VKA Viking Mines Ltd 0.008 0% -11% 0% -20% -20% -1% $8,500,734 LCL LCL Resources Ltd 0.01 0% 0% 25% -23% -63% -1% $9,648,780 MTH Mithril Silver Gold 0.675 1% 229% 366% 238% 238% 48% $69,061,069 ADG Adelong Gold Limited 0.004 -11% 0% -11% 14% -43% 0% $5,030,950 RMX Red Mount Min Ltd 0.001 0% 0% 0% -43% -71% 0% $3,873,577 PRS Prospech Limited 0.035 0% -10% 6% -17% 30% 0% $10,591,971 TTM Titan Minerals 0.4425 4% 2% -2% 58% 28% 16% $79,473,170 NML Navarre Minerals Ltd 0.019 0% 0% 0% 0% 0% 0% $28,555,654 AAM Aumegametals 0.043 -2% -10% -9% -7% -20% 0% $23,151,469 KZR Kalamazoo Resources 0.078 -1% 0% -12% -10% -22% -4% $14,774,054 BCN Beacon Minerals 0.023 5% 0% -4% -6% -4% 0% $82,648,900 MAU Magnetic Resources 1.365 0% -2% -14% 42% 63% 35% $353,183,185 BC8 Black Cat Syndicate 0.455 2% 25% 28% 112% 94% 21% $197,388,506 EM2 Eagle Mountain 0.05 8% 14% 4% -12% -36% -2% $18,268,684 EMR Emerald Res NL 3.96 0% 3% 0% 43% 54% 95% $2,608,101,532 BYH Bryah Resources Ltd 0.004 -20% -20% -11% -60% -73% -1% $2,516,434 HCH Hot Chili Ltd 0.83 -1% 9% -1% -25% -30% -25% $126,436,076 WAF West African Res Ltd 1.7925 -2% 9% 22% 58% 128% 85% $2,077,138,297 MEU Marmota Limited 0.036 0% 0% -5% -20% 3% -1% $39,116,821 NVA Nova Minerals Ltd 0.135 0% -16% -10% -46% -44% -23% $36,711,479 SVL Silver Mines Limited 0.093 0% -6% 3% -42% -47% -7% $140,247,372 PGD Peregrine Gold 0.17 6% 13% -8% -19% -42% -7% $10,860,547 ICL Iceni Gold 0.041 3% 11% 0% 64% -50% -1% $10,910,442 FG1 Flynngold 0.031 3% 7% 15% -26% -32% -1% $7,647,494 WWI West Wits Mining Ltd 0.015 0% -6% 0% 7% 7% 0% $38,125,902 RML Resolution Minerals 0.002 0% 0% 0% -33% -67% 0% $3,220,044 AAJ Aruma Resources Ltd 0.017 6% -6% 13% 0% -45% -1% $3,552,931 AL8 Alderan Resource Ltd 0.003 0% 0% 0% -33% -69% 0% $3,818,584 GMN Gold Mountain Ltd 0.003 0% 0% -14% -25% -50% 0% $11,722,420 MEG Megado Minerals Ltd 0.016 0% 7% 45% 60% -60% -2% $4,071,289 HMG Hamelingoldlimited 0.064 -4% 0% -28% -11% -24% -2% $10,552,500 BM8 Battery Age Minerals 0.115 0% -8% -4% 15% -56% -8% $10,697,776 TBR Tribune Res Ltd 4.85 2% 11% 26% 31% 52% 190% $248,698,685 FML Focus Minerals Ltd 0.14 0% 0% 0% -22% -24% -5% $40,118,210 VRC Volt Resources Ltd 0.004 0% 0% 33% -20% -56% 0% $16,634,713 ARV Artemis Resources 0.013 0% 0% -7% -24% -55% -1% $24,919,472 HRN Horizon Gold Ltd 0.365 0% 7% 22% 24% 11% 7% $52,866,572 CLA Celsius Resource Ltd 0.012 0% 0% -17% -8% 9% 0% $29,134,953 QML Qmines Limited 0.097 0% 4% 45% 41% 2% 2% $32,027,485 RDN Raiden Resources Ltd 0.045 5% 25% 55% 88% 41% 1% $119,899,551 TCG Turaco Gold Limited 0.32 -4% 16% 39% 100% 527% 19% $251,485,385 KCC Kincora Copper 0.042 0% -11% -19% 14% 8% 0% $8,651,291 GBZ GBM Rsources Ltd 0.008 -11% 0% -11% -11% -47% 0% $10,410,200 DTM Dart Mining NL 0.016 0% 7% -3% 3% -26% 0% $5,168,657 MKR Manuka Resources. 0.034 0% 6% 21% -55% -26% -4% $26,512,101 AUC Ausgold Limited 0.51 4% 19% 40% 59% 55% 19% $174,577,919 ANX Anax Metals Ltd 0.022 0% 5% -4% 10% -45% -1% $15,281,263 EMU EMU NL 0.024 -4% -8% 20% -13% -71% 0% $3,137,480 SFM Santa Fe Minerals 0.036 0% -5% -8% -20% -16% -1% $2,621,476 SSR SSR Mining Inc. 8.85 3% 5% 9% 47% -60% -697% $34,921,631 PNR Pantoro Limited 0.11 -4% -8% -4% 80% 189% 5% $742,213,509 CMM Capricorn Metals 5.895 -1% -7% -1% 15% 42% 119% $2,253,842,345 X64 Ten Sixty Four Ltd 0.57 0% 0% 0% 0% 0% 0% $129,844,903 SI6 SI6 Metals Limited 0.001 0% -50% -50% -71% -86% 0% $2,368,859 HAW Hawthorn Resources 0.058 0% -3% -5% -23% -42% -4% $19,430,906 BGD Bartongoldholdings 0.235 0% -4% -4% -20% 21% -3% $51,384,847 SVY Stavely Minerals Ltd 0.029 0% -9% 4% 0% -60% -2% $13,964,672 AGC AGC Ltd 0.245 -6% -8% -23% 260% 277% 17% $66,715,278 RGL Riversgold 0.005 0% 0% 25% -29% -58% -1% $6,637,313 TSO Tesoro Gold Ltd 0.036 -3% 20% 24% 16% 71% 1% $56,002,486 GUE Global Uranium 0.068 0% 13% 11% -28% -62% -3% $18,066,732 CPM Coopermetalslimited 0.054 -7% -2% -18% -49% -58% -29% $4,544,628 MM8 Medallion Metals. 0.053 0% -4% -7% -10% -18% -1% $19,663,173 FFM Firefly Metals Ltd 1.05 4% 2% 12% 54% 133% 42% $485,515,042 CBY Canterbury Resources 0.034 0% 0% 13% -6% 26% 1% $6,712,990 LYN Lycaonresources 0.29 4% -13% 12% 61% -2% 9% $14,835,750 SFR Sandfire Resources 10.71 3% 17% 18% 27% 77% 337% $4,743,712,376 TMZ Thomson Res Ltd 0.005 0% 0% 0% 0% 0% 0% $4,881,018 TAM Tanami Gold NL 0.035 9% 9% -3% 3% -5% 0% $37,603,105 NWM Norwest Minerals 0.022 0% 22% -4% -24% -24% -1% $10,672,629 ALK Alkane Resources Ltd 0.47 0% 9% 18% -20% -18% -19% $284,152,492 BMO Bastion Minerals 0.007 0% 17% 17% -30% -65% -1% $3,545,587 IDA Indiana Resources 0.096 -1% 1% 4% 23% 72% 2% $61,534,014 GSM Golden State Mining 0.012 9% 9% 0% 20% -65% 0% $3,073,077 NSM Northstaw 0.015 22% 31% 22% -56% -42% -3% $1,714,178 GSN Great Southern 0.018 0% 6% -5% -5% -22% 0% $15,220,507 RED Red 5 Limited 0.345 0% 5% -4% -5% 23% 4% $2,346,853,317 DEG De Grey Mining 1.38 3% 6% 13% 14% 20% 14% $3,211,655,057 THR Thor Energy PLC 0.017 0% 0% 13% -26% -60% -1% $3,914,646 CDR Codrus Minerals Ltd 0.024 9% 9% -8% -40% -69% -3% $3,638,525 MDI Middle Island Res 0.016 -11% -11% 14% 0% -23% 0% $3,931,212 WTM Waratah Minerals Ltd 0.29 -5% -27% -27% 263% 779% 17% $57,593,505 POL Polymetals Resources 0.35 8% 32% 40% 17% 6% 4% $63,297,216 RDS Redstone Resources 0.003 0% -14% -25% -25% -57% 0% $2,776,135 NAG Nagambie Resources 0.015 0% -29% -6% 0% -29% -1% $11,949,535 BGL Bellevue Gold Ltd 1.2975 1% 3% -4% -30% -8% -38% $1,651,198,693 GBR Greatbould Resources 0.056 -3% 17% 22% 2% -2% -1% $35,246,389 KAI Kairos Minerals Ltd 0.0125 -4% -4% 25% 4% -40% 0% $34,201,858 KAU Kaiser Reef 0.16 -3% 10% 7% 7% -9% -1% $33,733,243 HRZ Horizon 0.048 -2% 9% 14% 45% 26% 1% $54,809,396 CAI Calidus Resources 0.115 0% 0% 0% -4% -28% -10% $93,678,206 CDT Castle Minerals 0.003 0% -25% -25% -57% -68% -1% $4,118,442 RSG Resolute Mining 0.76 0% 5% 14% 100% 124% 32% $1,618,078,010 MXR Maximus Resources 0.04 0% 25% 25% 52% 28% 1% $17,117,108 EVN Evolution Mining Ltd 4.715 2% 7% 8% 35% 37% 76% $9,229,969,075 CXU Cauldron Energy Ltd 0.021 -16% 0% 5% -45% 94% 0% $30,925,766 DLI Delta Lithium 0.24 0% 14% 4% -14% -68% -23% $171,217,714 ALY Alchemy Resource Ltd 0.007 0% 17% 17% 17% -46% 0% $8,246,534 HXG Hexagon Energy 0.021 0% -9% 5% -9% 133% 1% $10,771,234 OBM Ora Banda Mining Ltd 0.655 -5% 3% 21% 143% 524% 42% $1,285,232,906 AVW Avira Resources Ltd 0.001 0% 0% 0% 0% -50% 0% $2,938,790 LCY Legacy Iron Ore 0.013 0% 0% 8% -13% -13% 0% $100,276,127 PDI Predictive Disc Ltd 0.2675 -6% -3% -4% 22% 34% 6% $670,007,065 MAT Matsa Resources 0.034 -3% 3% 13% 17% 26% 1% $22,753,063 ZAG Zuleika Gold Ltd 0.014 0% 0% 0% -18% 17% 0% $10,372,319 GML Gateway Mining 0.024 0% -8% 14% 0% -17% 0% $9,491,026 SBM St Barbara Limited 0.345 -3% 21% 38% 103% 86% 14% $290,511,221 SBR Sabre Resources 0.016 14% 14% 33% -11% -60% -2% $5,501,467 STK Strickland Metals 0.097 3% 3% -12% 11% 83% 0% $207,449,986 ION Iondrive Limited 0.014 -7% 0% 27% 40% -7% 0% $10,627,613 CEL Challenger Gold Ltd 0.054 0% 2% 14% -30% -36% -2% $75,804,361 LRL Labyrinth Resources 0.016 0% -30% 42% 355% 225% 1% $61,547,366 NST Northern Star 16.23 0% 3% 7% 17% 51% 258% $18,662,709,444 OZM Ozaurum Resources 0.038 -5% -5% -22% -24% -58% -11% $6,350,000 TG1 Techgen Metals Ltd 0.034 -3% -3% 10% 13% 17% -4% $4,484,640 XAM Xanadu Mines Ltd 0.064 -3% 16% 8% 10% -21% 1% $113,256,397 AQI Alicanto Min Ltd 0.027 4% 17% 59% 2% -30% -1% $19,451,717 KTA Krakatoa Resources 0.011 -8% -8% 10% 22% -48% -3% $5,665,287 ARN Aldoro Resources 0.079 5% -2% 5% 5% -11% -5% $10,096,781 WGX Westgold Resources. 2.665 -5% -1% -11% 9% 51% 49% $2,650,138,229 MBK Metal Bank Ltd 0.017 21% 13% 6% -26% -58% -1% $5,466,430 A8G Australasian Metals 0.11 0% 0% -15% 83% -27% -6% $5,733,254 TAR Taruga Minerals 0.009 0% 13% 13% 50% 0% 0% $6,354,241 DTR Dateline Resources 0.006 20% 20% -25% -60% -60% 0% $12,473,399 GOR Gold Road Res Ltd 1.725 1% 5% -1% 9% 4% -24% $1,847,102,480 S2R S2 Resources 0.08 1% -4% -24% -38% -56% -9% $35,775,781 NES Nelson Resources. 0.003 0% 0% 0% -14% -50% 0% $1,840,783 TLM Talisman Mining 0.255 6% 21% 31% 46% 82% 2% $45,196,884 BEZ Besragoldinc 0.085 -9% 6% -15% -19% -45% -7% $38,640,472 PRU Perseus Mining Ltd 2.655 -1% 1% 4% 27% 61% 81% $3,688,206,655 SPQ Superior Resources 0.008 14% 14% 0% -15% -66% 0% $15,189,047 PUR Pursuit Minerals 0.0025 0% 25% 25% -50% -75% -1% $9,088,500 RMS Ramelius Resources 2.23 -3% 2% 8% 26% 52% 55% $2,640,490,625 PKO Peako Limited 0.004 0% 33% 0% 30% -14% 0% $3,513,899 ICG Inca Minerals Ltd 0.005 0% 0% 0% 0% -69% -1% $4,066,093 A1G African Gold Ltd. 0.044 -2% 10% 29% 48% 26% 2% $16,153,178 OAU Ora Gold Limited 0.0085 -6% 21% 70% 42% -6% 0% $64,287,312 GNM Great Northern 0.015 -6% 15% -6% 0% -44% -1% $2,474,065 KRM Kingsrose Mining Ltd 0.034 -3% -3% -11% 0% -33% -1% $26,373,428 BTR Brightstar Resources 0.018 0% 0% 0% 13% 64% 0% $119,989,051 RRL Regis Resources 2.03 -2% 4% 12% 6% 35% -15% $1,563,838,909 M24 Mamba Exploration 0.012 0% -14% 0% -54% -79% -4% $2,256,987 TRM Truscott Mining Corp 0.072 0% 3% 20% 42% 42% 2% $13,175,896 TNC True North Copper 0.038 0% 3% 6% -38% -77% -6% $33,268,628 MOM Moab Minerals Ltd 0.005 0% 25% 0% 0% -58% 0% $3,969,071 KNB Koonenberrygold 0.01 -9% 0% -29% -55% -71% -3% $3,165,662 AWJ Auric Mining 0.37 0% 17% 23% 124% 781% 25% $54,964,747 ENR Encounter Resources 0.4525 1% 6% -8% 93% 59% 16% $203,322,624 SNG Siren Gold 0.071 0% 3% 4% 29% 1% 0% $14,709,346 STN Saturn Metals 0.3 3% 18% 62% 62% 107% 13% $89,576,616 USL Unico Silver Limited 0.2325 -3% 13% 26% 79% 147% 11% $84,266,501 PNM Pacific Nickel Mines 0.024 0% 0% 0% -29% -73% -6% $10,103,835 AYM Australia United Min 0.002 0% 0% 0% -33% -33% 0% $3,685,155 ANL Amani Gold Ltd 0.001 0% 0% 0% 0% 0% 0% $25,743,441 HAV Havilah Resources 0.19 6% 3% 6% 15% -21% -1% $58,958,494 SPR Spartan Resources 1.3575 -4% 4% -1% 130% 264% 84% $1,566,203,909 PNT Panthermetalsltd 0.021 5% -13% -19% -14% -59% -2% $4,706,973 MEK Meeka Metals Limited 0.064 8% 12% 10% 88% 31% 2% $85,619,393 GMD Genesis Minerals 2.1 -2% -1% -5% 19% 48% 31% $2,426,170,957 PGO Pacgold 0.105 0% -13% 5% -25% -45% -9% $8,835,271 FEG Far East Gold 0.175 3% 3% 9% 35% 6% 5% $48,471,273 MI6 Minerals260Limited 0.13 0% -4% -7% -21% -73% -19% $30,420,000 IGO IGO Limited 5.72 5% 10% 9% -18% -52% -333% $4,127,109,581 GAL Galileo Mining Ltd 0.16 -3% -3% -9% -42% -48% -13% $32,608,113 RXL Rox Resources 0.135 4% -4% -4% -11% -47% -5% $53,377,387 PTN Patronus Resources 0.053 4% 2% -4% -17% 33% -1% $83,507,288 CLZ Classic Min Ltd 0.001 0% 0% 0% -94% -98% -5% $1,439,026 TGM Theta Gold Mines Ltd 0.17 -3% 3% 17% 6% 21% 6% $136,618,541 FAL Falconmetalsltd 0.185 0% -8% -29% 42% 42% 4% $32,745,000 SXG Southern Cross Gold 3.33 7% 17% 17% 78% 316% 207% $619,153,404 SPD Southernpalladium 0.455 -9% 21% 23% 38% 3% 8% $44,875,000 ORN Orion Minerals Ltd 0.016 0% -6% 7% 23% -16% 0% $109,384,625 TMB Tambourahmetals 0.0375 -1% -1% -11% -52% -80% -8% $3,510,019 TMS Tennant Minerals Ltd 0.014 0% -13% -26% -48% -50% -2% $13,382,466 AZY Antipa Minerals Ltd 0.026 0% 24% 117% 100% 100% 1% $123,986,185 PXX Polarx Limited 0.01 0% 11% 11% -17% 14% 0% $23,755,010 TRE Toubani Res Ltd 0.315 7% 19% 66% 142% 186% 17% $62,317,433 AUN Aurumin 0.046 0% 15% 21% 39% 59% 2% $20,964,189 GPR Geopacific Resources 0.024 0% 0% -8% 26% 71% 0% $25,171,365 FXG Felix Gold Limited 0.11 -8% 25% 139% 255% 45% 6% $31,758,700 ILT Iltani Resources Lim 0.23 0% -10% -4% 48% 31% 7% $10,122,416 BRX Belararoxlimited 0.24 0% -8% -21% 2% -58% -7% $25,104,451 TM1 Terra Metals Limited 0.042 0% 20% 5% -18% -21% 0% $16,622,705 TOR Torque Met 0.081 -5% -19% -30% -42% -77% -14% $16,017,309 ARD Argent Minerals 0.019 0% 9% 19% 90% 73% 1% $27,434,588
Top ASX gold stories this week
De Grey Mining (ASX:DEG) has just shunned a takeover offer from Canadian giant Agnico Eagle for the company and its $1.3bn Hemi gold mine in WA’s Pilbara.
The $3.31bn market-capped De Grey has been the subject of potential takeover activity for more than a year, but its recent $600m equity raising to fund the development of its +10Moz Hemi gold deposit was thought to have put to rest any suggestion it was embarking on any merger or acquisition talks.
Agnico Eagle owns the Fosterville mine, the largest producer of gold in Victoria. It inherited the asset when it merged with Kirkland Lake and it likes to acquire assets of scale.
De Grey’s shares have rallied over the past month as spot gold price hits record highs this year. DEG stocks closed at $1.38 today.
In Eastern Europe Strickland Metals (ASX:STK) has just intersected another lot of high-grade gold outside of its current Rogozna resource it’s exploring in Serbia.
The cashed-up junior – on the back of the sale of its Melrose gold project in WA’s Mid West to Northern Star Resources (ASX:NST) last year for $60-odd million – went off to the Balkans of all places to ply its trade in proving up the highly prospective Rogozna resource. And that’s in a region having somewhat of a mining exploration renaissance with Rio Tinto (ASX:RIO) amongst others making waves in the underexplored slice of Europe.
The junior still has almost $50m in cash and has just struck into a spectacular intercept outside of the project’s already identified 5.4Moz gold equivalent resource.
A drill hit at the Medenovac prospect of 365.8m at 2g/t AuEq from 198.4m contains narrower intercepts of 19.8m at 2.8g/t from 333m, 24m at 3.6g/t from 468.2m and the piece de resistance, a 50m section at 5.6g/t AuEq from 271.5m downhole.
Medenovac now has a strike length of ~150m and STK is hard at the drillbit to add the prospective ounces to Rogozna’s endowment ahead of its mineral resource update early next year.
Back in WA and Brightstar Resources (ASX:BTR) has hooked numerous 20g/t intercepts at the Fish deposit, part of the freshly acquired Jasper Hills project via its takeover of Linden Gold.
The Fish deposit ceased open-pit mining operations in 2012, with Crescent Gold digging up 350,000oz at 3.83g/t gold (~40,000oz) from a single pit.
Back then it was processed through the Granny Smith processing plant. It is now seen as crucial to adding ounces to the Jasper Hills project plan, with a definitive feasibility study on the horizon.
Best intersections include:
7m at 9.5g/t gold from 176m, including 1m at 45.3g/t from 177m, and 2m at 6.74g/t from 195m at hole FHRCD2403; and 8m at 8.01g/t gold from 180m, including 1m at 36.4g/t from 186m and 4m at 11.9g/t from 259m, including 1m at 37.4g/t from 260m down hole FHRCD2420.
At Stockhead we tell it like it is. While Strickland Minerals and Brightstar Resources are Stockhead advertisers, they did not sponsor this article.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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