Gold Digger: Banking on it – ANZ upgrades gold outlook, SocGen sees further upside

Spot gold prices are up since this time last week, and ASX goldies are benefitting
ANZ upgrades its gold outlook for rest of this year, and 2024
The week’s top ASX gold-related stocks led by: TG1, KGD and CPM

First things first, let’s just make a brief mention about Aussie gold.

Our Aussie-gold-wearing ODI team, that is, which scraped (well surged, really, with eight wins on the trot) into yet another World Cup final in the wee hours this morning.

India is absolutely the team to beat, etc, but could be quietly bricking it having to face the most successful World Cup cricketing nation of all time.

But enough from CricketHead. Speaking of bricking it, then, where are things at with gold prices compared with this about time last week?

Actually not too bad.

In dipping US dollars, gold is trading, at time of writing, for a healthy $1,989 an ounce. (In Aussie dollars, it’s changing hands for about $3,076 per oz.)

Meanwhile, as reported in Ground Breakers earlier: the ASX gold sub-index was up 2.6% in early trade to take the materials sector to 0.3% gain before lunch on Friday.

Analysts, such as Kitco’s Jim Wyckoff, are putting the reasonably good performance this week (after a lacklustre one last week) down to the tamer US inflation data that fed the Fed a few days ago.

The US dollar dipped this week, along with Treasury yields, after US weekly jobless claims increased more than expected. Consequently, expectations are still high that the US Federal Reserve will continue the pause in its interest-rate hiking cycle. Or better still, sit on something and pivot.

We are in a new Daily Cycle, 2nd in this Investor Cycle. Options Exp tomorrow-so I am expecting more meaningful advances next wk.

Fed pivot, advancing TLT, USD rolling over. All fundamentals you care to throw at it.

The USD 3 yr cycle low is going to suck the price down hard. pic.twitter.com/IMWro8Obf4

— Simon (@sich8) November 16, 2023

Hang on… how did the following tweet sneak in here?

Australia have done it!!

They have defeated South Africa yet again in a World Cup semi-final #SAvsAUS

It will be INDIA vs AUSTRALIA for the pic.twitter.com/3YJ9aKN6Q1

— Cricbuzz (@cricbuzz) November 16, 2023

ANZ upgrades gold outlook for 2024

We know central bankers the world over are hot and heavy for gold this year, buying up in bulk – (particularly the People’s Bank of China), but big private banking entities are also on the gold-plated bandwagon. In least in terms of forecasting.

This week, ANZ released its latest precious metals report – ‘The Vault’ – citing various reasons to stay strong on the yellow metal.

Not to be a doom-mongerer or anything, but the bank notes that geopolitical tension will “protect the downside in gold prices”.

“Renewed geopolitical tensions will protect the downside in Gold prices. This is in addition to the conclusion of the US monetary tightening cycle and an imminent peak in the US Dollar.

“We expect central bank Gold purchases to remain strong.”

And the bank has upgraded its gold demand estimates for 2023 and 2024, as follows:

“Based on current pace of purchase, we upgrade our demand estimates to 1,050t from 750t for 2023 and 800t for 2024.”

ANZ also notes that central banks in emerging markets are also positioning themselves against rising debt levels in reserve currency economies (such as the US, Europe and Japan) as this increases the credit risk.

“US debt levels, for example, have increased 46% to 33trn since 2020, leaving credit risk high for US assets. This pattern is likely to continue as debt levels increase.”

And, citing the recent US labour data, the bank suggests it’s in line with the Fed’s softening stance on interest rates and potentially being on track to reach its 2% inflation target:

“US ISM Services PMI data confirm that underlying demand in the US is softening. This builds a case for declining UST yields and a moderating DXY, which is supportive for gold investment demand.”

SocGen sees further upside

Meanwhile, strategists at major, French-based multinational bank Société Générale (per FXStreet) also see more gains for gold from here and into next year.

They, similar to ANZ, cite interest rates peaking, US recession, unstable geopolitics and central bank buying as chief reasons to go for gold:

“US rates can come off more and sooner than rates in other OECD economies, signalling possible dollar weakness ahead, creating a tailwind for gold,” said SocGen, adding:

“With a recession in the US looming – however mild – there is a risk that the Fed will have to start lowering rates before sticky inflation budges, lowering carrying costs and elevating the expected return for gold.”

And, as Josh also notes in Ground Breakers, SocGen has also tipped prices rising to US$2,200/oz from the second quarter of next year after lower than expected US inflation data brought prices back into positive territory this week.

Meanwhile, this caught our eyes, too…

“The investment fund, which is famous for successfully shorting Lehman Brothers in the runup to the 2008 crash, now has a bigger stake in the SPDR Gold Trust than at any prior point, as gold prices have again started to rally in recent months…”

Source: https://t.co/sYsuH1uqHq

— Gold Telegraph (@GoldTelegraph_) November 16, 2023

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 % Month % YTD Market Cap MRR Minrex Resources Ltd 0.022 38% 38% -1% $17,357,880 NPM Newpeak Metals 0.001 0% 0% 0% $9,995,579 ASO Aston Minerals Ltd 0.034 0% -11% -5% $47,917,378 MTC Metalstech Ltd 0.15 25% -21% -37% $29,233,711 FFX Firefinch Ltd 0.2 0% 0% 0% $236,569,315 GED Golden Deeps 0.055 4% 4% -4% $6,238,207 G88 Golden Mile Res Ltd 0.024 0% 20% 0% $8,234,738 DCX Discovex Res Ltd 0.002 0% 0% 0% $6,605,136 NMR Native Mineral Res 0.032 7% -42% -8% $6,921,767 AQX Alice Queen Ltd 0.008 -33% -33% -3% $1,018,444 SLZ Sultan Resources Ltd 0.016 0% -11% -7% $2,371,041 MKG Mako Gold 0.014 0% -13% -3% $8,064,115 KSN Kingston Resources 0.082 -4% -2% 0% $41,330,832 AMI Aurelia Metals Ltd 0.105 5% 21% -1% $185,376,753 PNX PNX Metals Limited 0.004 0% 60% 0% $16,141,874 GIB Gibb River Diamonds 0.033 -11% -3% -3% $6,979,812 KCN Kingsgate Consolid. 1.17 2% 0% -56% $286,104,378 TMX Terrain Minerals 0.0045 13% 13% 0% $5,413,711 BNR Bulletin Res Ltd 0.16 -3% 33% 7% $48,442,532 NXM Nexus Minerals Ltd 0.038 -3% -17% -16% $15,562,405 SKY SKY Metals Ltd 0.046 15% 15% 0% $21,224,312 LM8 Lunnonmetalslimited 0.7 0% 4% -20% $151,939,369 CST Castile Resources 0.057 -8% 14% -4% $13,788,438 YRL Yandal Resources 0.07 21% 56% -3% $11,046,216 FAU First Au Ltd 0.002 0% -33% 0% $2,903,987 ARL Ardea Resources Ltd 0.47 -19% -13% -24% $102,197,505 GWR GWR Group Ltd 0.077 -10% 3% 2% $25,376,116 IVR Investigator Res Ltd 0.042 11% 11% 0% $57,486,801 GTR Gti Energy Ltd 0.0085 21% -6% 0% $16,399,577 IPT Impact Minerals 0.011 -8% 10% 0% $32,944,095 BNZ Benzmining 0.355 11% -7% -6% $34,622,807 MOH Moho Resources 0.009 29% 29% -1% $3,297,548 BBX BBX Minerals Ltd 0.027 8% 13% -8% $17,016,800 PUA Peak Minerals Ltd 0.003 0% -14% 0% $3,124,130 MRZ Mont Royal Resources 0.165 0% -3% -1% $13,578,664 SMS Starmineralslimited 0.038 0% -5% -3% $2,837,566 MVL Marvel Gold Limited 0.01 -9% -17% -2% $10,365,488 PRX Prodigy Gold NL 0.009 20% 0% 0% $14,008,863 AAU Antilles Gold Ltd 0.026 8% 13% 0% $19,029,769 CWX Carawine Resources 0.105 0% -21% 1% $20,665,834 RND Rand Mining Ltd 1.365 10% 0% 1% $77,635,687 CAZ Cazaly Resources 0.032 -6% -11% 0% $12,640,096 BMR Ballymore Resources 0.125 -4% 14% -3% $18,274,658 DRE Dreadnought Resources Ltd 0.0325 -4% -28% -7% $117,536,140 ZNC Zenith Minerals Ltd 0.17 3% 70% -10% $59,904,750 REZ Resourc & En Grp Ltd 0.015 0% 7% 0% $7,497,087 LEX Lefroy Exploration 0.185 9% 3% -8% $36,315,824 ERM Emmerson Resources 0.06 0% 0% -2% $31,593,168 AM7 Arcadia Minerals 0.09 13% -14% -12% $9,705,459 ADT Adriatic Metals 3.21 0% -9% 6% $755,842,289 GMR Golden Rim Resources 0.013 -28% -35% -2% $10,648,591 CYL Catalyst Metals 0.8075 -3% 24% -37% $173,924,460 CHN Chalice Mining Ltd 1.57 -11% -23% -473% $618,451,653 KAL Kalgoorliegoldmining 0.029 7% 4% -5% $4,156,153 MLS Metals Australia 0.04 13% 21% 0% $22,465,303 ADN Andromeda Metals Ltd 0.025 0% 19% -2% $74,640,202 MEI Meteoric Resources 0.2375 -1% 16% 18% $456,759,425 SRN Surefire Rescs NL 0.01 0% -23% 0% $18,367,531 SIH Sihayo Gold Limited 0.0015 0% -25% 0% $18,306,384 WA8 Warriedarresourltd 0.057 -8% -7% -11% $28,811,763 HMX Hammer Metals Ltd 0.053 4% 20% -2% $44,320,367 WCN White Cliff Min Ltd 0.012 9% 0% 0% $15,084,223 AVM Advance Metals Ltd 0.003 -14% -25% -1% $2,167,040 WRM White Rock Min Ltd 0.063 0% 0% 0% $17,508,200 ASR Asra Minerals Ltd 0.012 33% 71% -1% $20,386,879 MCT Metalicity Limited 0.0015 -40% -25% 0% $8,502,172 AME Alto Metals Limited 0.045 7% 0% -2% $32,139,004 CTO Citigold Corp Ltd 0.005 -9% 25% 0% $14,368,295 TIE Tietto Minerals 0.595 3% 53% -11% $665,927,366 SMI Santana Minerals Ltd 0.7 -7% 30% 5% $129,817,001 M2R Miramar 0.024 9% -45% -5% $3,572,869 MHC Manhattan Corp Ltd 0.004 0% -20% 0% $11,747,919 GRL Godolphin Resources 0.035 0% -3% -5% $5,923,471 TRY Troy Resources Ltd 0 -100% -100% -3% $62,920,961 SVG Savannah Goldfields 0.055 0% -15% -14% $11,024,212 EMC Everest Metals Corp 0.095 6% -27% 2% $15,511,895 GUL Gullewa Limited 0.055 0% 0% -1% $10,767,521 CY5 Cygnus Metals Ltd 0.16 0% 14% -22% $44,956,609 G50 Gold50Limited 0.13 4% 0% -12% $14,207,700 ADV Ardiden Ltd 0.005 -9% -17% 0% $13,441,677 AAR Astral Resources NL 0.079 -5% -4% 1% $61,804,752 MGV Musgrave Minerals 0 -100% -100% -21% $230,571,100 VMC Venus Metals Cor Ltd 0.105 0% -5% 3% $18,972,868 NAE New Age Exploration 0.0075 7% 36% 0% $12,557,292 VKA Viking Mines Ltd 0.011 10% 10% 0% $12,303,101 LCL LCL Resources Ltd 0.025 4% -22% -3% $20,651,916 MTH Mithril Resources 0.002 0% 33% 0% $6,737,609 ADG Adelong Gold Limited 0.007 17% 0% 0% $3,577,934 RMX Red Mount Min Ltd 0.004 0% 0% 0% $10,694,304 PRS Prospech Limited 0.027 29% -4% 0% $5,493,999 XTC Xantippe Res Ltd 0.001 0% 0% 0% $17,528,005 TTM Titan Minerals 0.032 -9% -22% -4% $48,798,504 NML Navarre Minerals Ltd 0.019 0% 0% -2% $28,555,654 MZZ Matador Mining Ltd 0.045 15% -6% -7% $15,770,773 KZR Kalamazoo Resources 0.11 -4% 13% -10% $20,564,337 BCN Beacon Minerals 0.027 4% 0% 0% $101,432,741 MAU Magnetic Resources 0.99 -3% 18% 13% $246,537,858 BC8 Black Cat Syndicate 0.27 32% 50% -9% $85,054,296 EM2 Eagle Mountain 0.059 -11% -17% -11% $18,298,012 EMR Emerald Res NL 2.555 -1% 2% 137% $1,574,990,960 BYH Bryah Resources Ltd 0.02 25% 54% -1% $7,172,106 HCH Hot Chili Ltd 1.075 0% 2% 20% $131,986,953 WAF West African Res Ltd 0.8275 -2% 10% -35% $820,890,462 MEU Marmota Limited 0.04 -2% 25% -1% $41,293,222 NVA Nova Minerals Ltd 0.2425 -3% -8% -44% $53,776,940 DCN Dacian Gold Ltd 0.285 0% 27% 19% $346,788,267 SVL Silver Mines Limited 0.165 0% 0% -4% $224,693,143 PGD Peregrine Gold 0.28 -7% 22% -11% $15,807,848 ICL Iceni Gold 0.058 -2% -15% -2% $14,151,571 FG1 Flynngold 0.072 -26% 20% -3% $8,864,868 WWI West Wits Mining Ltd 0.012 0% -14% 0% $29,164,700 RML Resolution Minerals 0.004 -20% -20% 0% $5,029,167 AAJ Aruma Resources Ltd 0.037 9% 12% -2% $7,088,094 AL8 Alderan Resource Ltd 0.008 -43% -43% 0% $8,854,890 GMN Gold Mountain Ltd 0.0055 10% -8% 0% $11,345,393 MEG Megado Minerals Ltd 0.031 -11% -14% -1% $7,888,122 HMG Hamelingoldlimited 0.084 0% -1% -6% $13,230,000 TBA Tombola Gold Ltd 0.026 0% 0% 0% $33,129,243 BM8 Battery Age Minerals 0.22 7% -8% -28% $17,381,693 TBR Tribune Res Ltd 2.96 -4% -6% -107% $162,126,358 FML Focus Minerals Ltd 0.175 6% 13% -8% $50,147,763 GSR Greenstone Resources 0.005 -29% -44% -3% $8,192,498 VRC Volt Resources Ltd 0.006 -8% -25% -1% $28,507,967 ARV Artemis Resources 0.035 21% 59% 1% $56,787,061 HRN Horizon Gold Ltd 0.29 -3% -3% -2% $42,003,578 CLA Celsius Resource Ltd 0.012 9% 4% 0% $24,706,568 QML Qmines Limited 0.076 7% -17% -9% $15,186,676 RDN Raiden Resources Ltd 0.068 36% 196% 6% $189,171,031 TCG Turaco Gold Limited 0.07 25% 40% 1% $35,190,167 KCC Kincora Copper 0.026 -4% -10% -5% $4,323,430 GBZ GBM Rsources Ltd 0.014 -7% -18% -3% $9,925,149 DTM Dart Mining NL 0.019 0% -12% -4% $3,683,066 MKR Manuka Resources. 0.048 9% 7% -4% $25,313,403 AUC Ausgold Limited 0.028 -5% -3% -2% $66,588,095 ANX Anax Metals Ltd 0.028 -3% -18% -3% $13,946,611 EMU EMU NL 0.001 -33% -33% 0% $1,667,521 SFM Santa Fe Minerals 0.043 0% 0% -4% $3,131,208 SSR SSR Mining Inc. 18.15 0% -16% -490% $422,787,020 PNR Pantoro Limited 0.05 28% 28% -5% $239,385,404 CMM Capricorn Metals 4.58 -2% 3% -2% $1,665,494,715 X64 Ten Sixty Four Ltd 0.57 0% 0% -7% $130,184,182 SI6 SI6 Metals Limited 0.006 20% 20% 0% $11,963,157 HAW Hawthorn Resources 0.093 -7% 2% -2% $31,156,452 BGD Bartongoldholdings 0.24 4% 2% 4% $44,968,173 SVY Stavely Minerals Ltd 0.064 -6% -9% -18% $26,353,866 AGC AGC Ltd 0.067 6% 3% 1% $6,500,000 RVR Red River Resources 0 -100% -100% -7% $37,847,908 RGL Riversgold 0.011 10% -15% -2% $10,463,876 TSO Tesoro Gold Ltd 0.018 -5% 6% -2% $17,911,414 OKR Okapi Resources 0.115 -4% -8% -4% $23,136,962 CPM Coopermetalslimited 0.2375 70% 107% 0% $11,441,795 MM8 Medallion Metals. 0.062 7% -14% -9% $19,074,402 AUT Auteco Minerals 0.034 10% 26% -2% $183,987,280 CBY Canterbury Resources 0.024 4% -11% -2% $3,468,565 LYN Lycaonresources 0.175 -8% -24% -10% $8,013,750 SFR Sandfire Resources 6.065 -1% 1% 63% $2,783,083,740 NCM Newcrest Mining 23.35 0% 3% 403% $20,880,287,592 TMZ Thomson Res Ltd 0.005 0% 0% -1% $4,881,018 TAM Tanami Gold NL 0.035 -10% -8% 0% $38,778,203 WMC Wiluna Mining Corp 0.205 0% 0% 0% $74,238,031 NWM Norwest Minerals 0.031 3% -6% -2% $8,627,085 ALK Alkane Resources Ltd 0.65 5% 0% 12% $379,906,703 BMO Bastion Minerals 0.019 19% 0% -2% $3,555,640 IDA Indiana Resources 0.056 -3% -3% 0% $34,908,912 GSM Golden State Mining 0.024 -4% -36% -2% $4,203,942 NSM Northstaw 0.081 -12% 145% -7% $9,850,414 GSN Great Southern 0.023 -12% -12% -1% $17,356,609 RED Red 5 Limited 0.3325 4% 6% 13% $1,142,522,453 DEG De Grey Mining 1.225 6% -1% -6% $2,193,686,354 THR Thor Energy PLC 0.028 12% 4% -3% $5,221,784 CDR Codrus Minerals Ltd 0.066 8% 10% -6% $5,758,500 MDI Middle Island Res 0.016 0% -19% -2% $2,250,532 BAT Battery Minerals Ltd 0.046 12% 84% -7% $5,501,807 POL Polymetals Resources 0.3 0% 0% 6% $45,650,467 RDS Redstone Resources 0.007 -7% -13% 0% $6,099,649 NAG Nagambie Resources 0.03 -9% 43% -4% $21,523,874 BGL Bellevue Gold Ltd 1.4525 5% 1% 32% $1,614,352,820 GBR Greatbould Resources 0.058 -9% -11% -3% $31,478,127 KAI Kairos Minerals Ltd 0.0165 -3% -18% 0% $41,934,595 KAU Kaiser Reef 0.155 -3% -11% -1% $22,920,970 HRZ Horizon 0.031 -9% -6% -3% $23,833,445 CAI Calidus Resources 0.175 -1% 25% -10% $103,740,291 CDT Castle Minerals 0.0105 5% 17% -1% $13,469,423 RSG Resolute Mining 0.3725 1% -2% 17% $777,103,255 MXR Maximus Resources 0.049 23% 58% 1% $14,427,260 EVN Evolution Mining Ltd 3.75 2% 8% 77% $6,613,861,925 CXU Cauldron Energy Ltd 0.016 33% 60% 1% $13,585,961 DLI Delta Lithium 0.49 -9% -29% 3% $274,888,781 ALY Alchemy Resource Ltd 0.01 -13% -17% -1% $11,780,763 HXG Hexagon Energy 0.01 11% 11% -1% $4,616,243 OBM Ora Banda Mining Ltd 0.2 21% 90% 12% $306,980,076 SLR Silver Lake Resource 1.05 -5% 7% -14% $958,112,941 AVW Avira Resources Ltd 0.002 0% 0% 0% $4,267,580 LCY Legacy Iron Ore 0.017 0% -6% 0% $108,916,045 PDI Predictive Disc Ltd 0.215 5% 5% 4% $455,013,699 MAT Matsa Resources 0.03 15% 11% -1% $14,270,221 ZAG Zuleika Gold Ltd 0.018 20% -5% 0% $8,368,810 GML Gateway Mining 0.019 -10% -30% -4% $6,629,651 SBM St Barbara Limited 0.19 -3% 3% -15% $151,324,520 SBR Sabre Resources 0.046 18% 35% 1% $15,716,306 STK Strickland Metals 0.1675 -4% 60% 13% $252,349,541 ION Iondrive Limited 0.014 17% 8% -1% $6,807,994 CEL Challenger Gold Ltd 0.07 -10% -17% -11% $93,207,829 LRL Labyrinth Resources 0.006 0% -14% -1% $7,125,262 NST Northern Star 11.68 -2% 2% 77% $13,009,183,033 OZM Ozaurum Resources 0.165 6% 72% 10% $31,750,000 TG1 Techgen Metals Ltd 0.066 144% 106% -2% $5,093,107 XAM Xanadu Mines Ltd 0.067 -12% -6% 4% $109,734,221 CHZ Chesser Resources 0 -100% -100% -9% $65,818,414 AQI Alicanto Min Ltd 0.042 -18% -11% 0% $25,844,146 KTA Krakatoa Resources 0.042 -2% 147% 0% $16,961,019 ARN Aldoro Resources 0.086 8% -8% -7% $11,443,018 WGX Westgold Resources. 2.12 3% 8% 125% $961,454,142 MBK Metal Bank Ltd 0.028 -7% -26% -1% $10,060,504 A8G Australasian Metals 0.17 -6% -17% -2% $8,860,484 TAR Taruga Minerals 0.01 0% 0% -1% $7,060,268 DTR Dateline Resources 0.011 -8% 10% -3% $14,442,401 GOR Gold Road Res Ltd 1.8475 -1% 2% 16% $1,932,524,665 S2R S2 Resources 0.175 3% -17% 1% $71,766,016 NES Nelson Resources. 0.005 25% 25% 0% $2,454,377 TLM Talisman Mining 0.1875 21% 34% 5% $32,956,061 BEZ Besragoldinc 0.165 38% 32% 11% $64,805,640 PRU Perseus Mining Ltd 1.785 2% 9% -33% $2,376,265,644 SPQ Superior Resources 0.024 -4% 14% -3% $44,029,290 PUR Pursuit Minerals 0.01 0% 18% -1% $29,439,714 RMS Ramelius Resources 1.585 -4% -8% 66% $1,743,988,132 PKO Peako Limited 0.005 0% -17% -1% $2,635,424 ICG Inca Minerals Ltd 0.013 -19% -32% -1% $6,893,596 A1G African Gold Ltd. 0.033 -8% -25% -5% $5,587,270 OAU Ora Gold Limited 0.006 -8% -20% 0% $39,355,173 GNM Great Northern 0.02 -9% -5% -4% $3,092,582 KRM Kingsrose Mining Ltd 0.047 -4% -4% -2% $34,616,220 BTR Brightstar Resources 0.014 40% 27% 0% $24,905,834 RRL Regis Resources 1.79 -1% 10% -27% $1,325,619,608 M24 Mamba Exploration 0.031 -3% -31% -11% $1,890,483 TRM Truscott Mining Corp 0.058 -2% -8% 2% $10,055,289 TNC True North Copper 0.13 -7% -26% 8% $40,275,425 MOM Moab Minerals Ltd 0.007 17% -13% 0% $4,271,781 KNB Koonenberrygold 0.036 0% -12% -3% $4,310,967 AWJ Auric Mining 0.066 -4% 40% 0% $8,113,295 AZS Azure Minerals 4.03 2% 64% 381% $1,843,891,892 ENR Encounter Resources 0.38 -3% 52% 20% $150,844,043 SNG Siren Gold 0.058 4% -9% -12% $9,219,205 STN Saturn Metals 0.14 8% -3% -4% $27,560,245 USL Unico Silver Limited 0.115 5% 46% -6% $34,045,933 PNM Pacific Nickel Mines 0.1 0% 27% 2% $41,825,311 AYM Australia United Min 0.003 0% 50% 0% $5,527,732 ANL Amani Gold Ltd 0.001 0% 0% 0% $25,143,441 HAV Havilah Resources 0.27 13% 13% -6% $82,326,195 SPR Spartan Resources 0.41 -13% -4% 24% $342,447,228 PNT Panthermetalsltd 0.076 9% 7% -11% $4,647,400 MEK Meeka Metals Limited 0.036 0% -8% -3% $42,694,522 GMD Genesis Minerals 1.545 3% 10% 30% $1,609,543,176 PGO Pacgold 0.185 -18% -20% -18% $15,493,880 FEG Far East Gold 0.16 3% -11% -32% $28,896,994 MI6 Minerals260Limited 0.35 1% -16% 1% $84,240,000 IGO IGO Limited 8.815 -5% -23% -465% $6,701,820,145 GAL Galileo Mining Ltd 0.28 -3% -14% -60% $57,311,229 RXL Rox Resources 0.205 -2% -9% 3% $73,806,572 KIN KIN Min NL 0.057 2% 21% -1% $63,620,130 CLZ Classic Min Ltd 0.001 0% 0% -1% $12,357,082 TGM Theta Gold Mines Ltd 0.125 0% -11% 6% $88,259,376 FAL Falconmetalsltd 0.14 0% -3% -14% $24,780,000 SXG Southern Cross Gold 0.82 -4% 10% 2% $76,547,280 SPD Southernpalladium 0.38 0% -10% -43% $16,369,764 ORN Orion Minerals Ltd 0.015 -6% -17% 0% $85,300,520 TMB Tambourahmetals 0.11 -27% -19% 1% $10,367,544 TMS Tennant Minerals Ltd 0.03 30% 11% 0% $24,301,869 AZY Antipa Minerals Ltd 0.016 7% 23% -1% $62,022,119 PXX Polarx Limited 0.008 14% -20% -1% $12,476,934 TRE Toubaniresourcesinc 0.13 24% 24% -3% $16,733,208 AUN Aurumin 0.021 -13% -25% -4% $6,687,305 GPR Geopacific Resources 0.018 0% 6% -1% $14,781,440 KGD Kula Gold 0.029 141% 121% 16% $10,820,000 FXG Felix Gold Limited 0.049 -2% -29% -7% $5,104,375

WordPress Tables Plugin

Best-performing goldies over the past week

The week’s biggest gains

TechGen Metals (ASX:TG1) +144%

Kula Gold (ASX:KGD) +141%

Cooper Metals (ASX:CPM) +70%

Brightstar Resources (ASX:BTR) +40%

Besra Gold (ASX:BEZ) +38%

MinRex Resources (ASX:MRR) +38%

Who has news?

Which ASX goldies shined over the past seven days? In no particular preferential order, these did…

Meeka Metals (ASX:MEK)

A resource upgrade at Turnberry is on the cards as Meeka Metals looks to accelerate development of its Murchison gold project through toll milling of higher-grade starter pits.

Based on a +1.2Moz resource across several deposits in the Murchison goldfields, including the high-grade Turnberry open pits, Meeka Metals could produce 663,000oz gold over an initial 9.3 years, according to the feasibility study published in July.

More here.

TechGen Metals (ASX:TG1),

TechGen is currently in a trading halt due to capital raising. Expect an announcement early next week.

It’s done well again this week on the back of a stonking one last week, when it dropped an update on its projects.

Those include stage three drilling approval for its John Bull Gold Project and pegmatite mapping to kick off at Ida Valley with historic data identifying lithium and caesiumin soils up to 144.5ppm Li (311ppm Li2O) along the Ida Fault.

Kula Gold (ASX:KGD)

KGD brought home a 141% price hike this week thanks to a two-fisted clutch of white-gold (lithium)-based announcements that set the market alight.

And those were: confirmation that the drills are set to spin at the company’s “substantial” Cobra Lithium Prospect in WA next week – and that the drilling operation is ready-funded, thanks to a handsome $650,000 boost from a placement of shares at the issue price of $0.013 a pop.

More here.

Cooper Metals (ASX:CPM)

Cooper Metals was a standout performer this week on the back of positive assay results from its Brumby Ridge and Raven copper-gold prospects at its Mt Isa East project in northwest Queensland.

Recapping:

The assay highlight in chief came from the initial RC drill hole 23MERC024 at Brumby, which saw an interception of 50m at 1.32% Cu from 80m including 2m at 6.1% Cu and 0.23g/t Au.

Drilling at Brumby Ridge also intercepted 72m at 1.5% Cu from 113m to end of hole, and mineralisation at the prospect is open in all directions, appearing to be improving with depth.

At Raven, meanwhile, the stats include: 15m at 1.0% Cu and 0.1 g/t Au from 35m within a wider intercept of 28m at 0.63% Cu & 0.061 g/t Au from 34m.

Further assay results from both prospects are due in December.

Brightstar Resources (ASX:BTR)

Emerging gold developer Brightstar Resources will assess whether its newly-declared maiden resource at Link Zone can be fast-tracked into production.

The company is well along the path to becoming a profitable gold miner in the Leonora-Laverton district of WA, cornerstoned by a mothballed processing plant and a +1Moz and growing resource inventory.

Meanwhile, the company is expecting imminent cashflow via mining joint venture currently under way at Selkirk and, potentially, a low cost mining start-up at the Link Zone, which is comprised of three deposits sitting between the Lady Shenton and Lady Harriet deposits at its Menzies Gold Project.

More here.

Spartan Resources (ASX:SPR)

Spartan Resources has received firm commitments to raise A$25 million via a placement at A$0.40 per share to pursue a rapid pathway back to production at its Dalgaranga gold project in WA.

Dalgaranga produced over 70,000oz of gold in FY2022 before being placed on care and maintenance in November 2022 to implement an operational reset, designed to preserve the value of its extensive infrastructure and resource base while developing a new, sustainable operating plan.

More here.

At Stockhead we tell it like it is. While Kula Gold, Spartan Resources, Brightstar Resources and Meeka Metals are Stockhead advertisers at the time of writing, they did not sponsor this article.

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