Gold Digger: Every cloud has a silver lining

Estimated read time 12 min read

Silver industrial demand is expected to break records in 2023 thanks to booming solar PV sector
Silver market will post another sizeable 140Moz deficit in 2023
“These deficit conditions to persist for the foreseeable future”: Metals Focus

Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.

 

Gold is on the rise, with little brother silver in tow. Unlike gold, however, silver plays a dual role – it is both an investment vehicle (like gold) and an important industrial metal.

Despite a challenging economic backdrop, global silver industrial demand is expected to achieve a new all-time high in 2023, according to Metals Focus.

This, coupled with a slight dip in total supply, will see the silver market post another sizeable deficit in 2023.

Overall demand is expected to fall by 10% year on year to 1.14 billion ounces in 2023 – thanks to weaker investment demand — but this drop must be set against 2022’s record high total, Metals Focus says.

“Even with a 10% drop, the total for 2023 is still the second highest in Metals Focus’ data series,” it says.

 

How is industrial demand for silver rising, as global economic growth stalls?

A big reason for this silver boom is a surge in photovoltaic (PV) developments, where it plays a crucial role.

“Global PV installations are expected to near 400GW in 2023 for the first time ever, as the ramp-up in China accelerates,” Metals Focus says.

“Moreover, the increase in PV cell production has been much faster than silver thrifting this year, and this in turn will drive the 11% rise for global electronics & electrical demand.

Silver will also benefit from rising investment in 5G networks and growing electrification of vehicles. Silver demand as an ethylene oxide (EO) catalyst will also achieve solid gains, fuelled by capacity expansions.

EO is used to produce ethylene glycol (EG), a key ingredient in polyester fibres, antifreeze, PET bottles and various other products.

 

Deficits ‘for the foreseeable future’ … but does it even matter?

Overall, the global silver market is expected to remain in a sizeable 140Moz deficit this year; down 43% on 2022’s all-time high, but still elevated by historical standards.

Going forward, Metals Focus expect these deficit conditions to persist for the foreseeable future but, as was the case in 2022, “institutional investors during 2023-to-date have shown little interest in this supportive supply/demand backdrop”.

“Instead, investors have remained sensitive to economic developments,” it says.

“Going forward, Metals Focus cautions that the economic backdrop will remain challenging both for now and also for much of 2024, as the pace of interest rate cuts by the Fed will turn out to be much slower than current market consensus.

“The white metal’s investment appeal will also be hurt by poor confidence in industrial commodities in the wake of a slowing Chinese economy.”

Take that forecast (all forecasts, actually) with a pinch of salt.

Metals Focus has been correct in predicting slower-than-expected interest rate pause/cuts, but wrong in that it also expected this to weaken precious metals prices in the second half “a trend we believe will continue into 2024”, it said in March.

Silver is currently paying US$23.69/oz, a solid 10% gain over the past 12 months. At US$1992.50/oz, gold is up 13% over the same period.

 

Best-performing ASX precious metal stocks over the past week

TURACO GOLD (ASX:TCG) +43% — project acquisition

PNX METALS (ASX:PNX) +33% — no news

PEAK MINERALS (ASX:PUA) +33% — no news

MATADOR MINING (ASX:MZZ) +33% — no news

 

Worst-performing ASX precious metal stocks over the past week

ASRA MINERALS (ASX:ASR) -39% – capital raise

AUSTRALIA UNITED MINING (ASX:AYM) -33% — no news

GOLDEN RIM (ASX:GMR) -33% — capital raise

ORA GOLD (ASX:OAU) -29% — drill results

 

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 1 WEEK RETURN% 1 MONTH RETURN% 6 MONTH RETURN% YEAR TO DATE RETURN% PRICE MARKET CAP TG1 Techgen Metals Ltd 67% 267% 49% 34% 0.11 $6,404,967 CXU Cauldron Energy Ltd 58% 138% 221% 175% 0.019 $20,378,942 PRS Prospech Limited 52% 52% -14% 42% 0.038 $7,911,359 TCG Turaco Gold Limited 43% 104% 79% 72% 0.1 $48,260,800 MRR Minrex Resources Ltd 38% 38% 57% -31% 0.022 $23,867,085 RGL Riversgold 36% 50% -17% -50% 0.015 $10,463,876 PNX PNX Metals Limited 33% 33% 33% -5% 0.004 $21,522,499 MOH Moho Resources 33% 71% -37% -43% 0.012 $6,120,800 PUA Peak Minerals Ltd 33% 14% 0% -33% 0.004 $3,124,130 AVM Advance Metals Ltd 33% 33% -43% -60% 0.004 $2,167,040 MZZ Matador Mining Ltd 33% 18% -21% -54% 0.053 $20,502,005 YRL Yandal Resources 31% 42% 31% -6% 0.092 $16,911,517 KTA Krakatoa Resources 28% 178% 108% 14% 0.05 $22,179,794 FG1 Flynngold 26% 21% 19% -18% 0.082 $11,319,755 STK Strickland Metals 26% 77% 388% 388% 0.195 $309,462,523 CTO Citigold Corp Ltd 25% 25% 0% -17% 0.005 $14,368,295 CBY Canterbury Resources 25% 11% -14% -27% 0.03 $4,335,706 NES Nelson Resources. 25% 25% 0% -29% 0.005 $3,067,972 AUN Aurumin 24% -7% 0% -57% 0.026 $6,687,305 M24 Mamba Exploration 23% 9% -64% -74% 0.038 $2,195,400 TSO Tesoro Gold Ltd 21% 37% -45% -43% 0.0205 $21,868,817 GMN Gold Mountain Ltd 20% 9% 50% -14% 0.006 $13,614,472 GIB Gibb River Diamonds 18% 3% -13% -35% 0.039 $6,979,812 BM8 Battery Age Minerals 18% 10% -39% -54% 0.23 $20,055,800 MBK Metal Bank Ltd 18% -6% 5% -2% 0.033 $11,857,022 AAU Antilles Gold Ltd 17% 27% -13% -7% 0.028 $22,201,397 ADG Adelong Gold Limited 17% 17% -30% 0% 0.007 $4,174,256 GSR Greenstone Resources 17% -13% -65% -78% 0.007 $9,576,794 OBM Ora Banda Mining Ltd 17% 83% 45% 150% 0.21 $341,088,974 LRL Labyrinth Resources 17% 0% -40% -57% 0.007 $8,312,806 FXG Felix Gold Limited 16% -23% -41% -58% 0.05 $6,172,733 PGD Peregrine Gold 16% 14% 7% -16% 0.325 $16,975,980 TMB Tambourahmetals 16% 16% 65% 38% 0.145 $10,782,246 G50 Gold50Limited 15% 20% 0% -40% 0.15 $14,754,150 GMD Genesis Minerals 14% 13% 43% 36% 1.7 $1,787,214,357 BGL Bellevue Gold Ltd 14% 7% 28% 41% 1.595 $1,809,683,766 AZY Antipa Minerals Ltd 13% 31% 6% -19% 0.017 $70,291,735 TRE Toubaniresourcesinc 12% 33% -13% -13% 0.14 $18,071,865 SXG Southern Cross Gold 12% 19% 93% 19% 0.95 $78,798,670 MXR Maximus Resources 11% 35% 28% 25% 0.05 $15,709,683 HXG Hexagon Energy 11% 25% -23% -41% 0.01 $4,616,243 KIN KIN Min NL 11% 20% 67% -8% 0.06 $70,689,033 KCN Kingsgate Consolid. 10% 10% -5% -29% 1.225 $318,323,340 TMS Tennant Minerals Ltd 9% 35% 9% 13% 0.035 $25,820,736 SPR Spartan Resources 9% 4% 270% 154% 0.425 $399,742,172 BGD Bartongoldholdings 9% 4% -6% 25% 0.25 $48,878,449 DEG De Grey Mining 9% 2% -5% 0% 1.2875 $2,415,831,807 GRL Godolphin Resources 9% 0% -37% -54% 0.038 $6,092,713 PGO Pacgold 8% -15% -33% -44% 0.2 $16,829,088 TGM Theta Gold Mines Ltd 8% 0% 96% 99% 0.135 $95,320,126 MEU Marmota Limited 8% 45% 20% -13% 0.042 $44,469,624 NAE New Age Exploration 7% 25% 50% 7% 0.0075 $14,351,191 THR Thor Energy PLC 7% 25% -40% -50% 0.03 $5,594,769 CPM Coopermetalslimited 7% 84% -21% -2% 0.23 $13,382,815 PDI Predictive Disc Ltd 7% 0% 47% 31% 0.235 $475,696,140 ORN Orion Minerals Ltd 7% -6% -20% 0% 0.016 $93,120,555 GTR Gti Energy Ltd 6% 6% 6% -21% 0.0085 $16,399,577 CAZ Cazaly Resources 6% 13% 36% 0% 0.034 $13,430,102 ZAG Zuleika Gold Ltd 6% 21% 0% -19% 0.017 $8,891,861 TAM Tanami Gold NL 6% -5% 9% -10% 0.035 $41,128,397 AUT Auteco Minerals 6% 24% 3% -29% 0.036 $200,221,452 CAI Calidus Resources 6% 20% -5% -33% 0.18 $106,791,476 CYL Catalyst Metals 6% 28% 6% -29% 0.835 $180,529,186 MLS Metals Australia 6% 6% -3% -15% 0.038 $23,713,375 PNR Pantoro Limited 5% 13% -31% -49% 0.0485 $254,997,495 ENR Encounter Resources 5% 76% 39% 119% 0.395 $150,844,043 AQI Alicanto Min Ltd 5% 2% 16% 2% 0.044 $28,305,493 KZR Kalamazoo Resources 4% 34% -11% -40% 0.125 $21,421,184 NWM Norwest Minerals 3% -3% 3% -43% 0.031 $8,914,655 POL Polymetals Resources 3% 9% -14% 27% 0.31 $47,172,149 KAU Kaiser Reef 3% -11% -24% -3% 0.16 $24,399,742 SVL Silver Mines Limited 3% -3% -20% -18% 0.165 $231,714,804 AGC AGC Ltd 3% 3% 12% 12% 0.067 $6,300,000 SFR Sandfire Resources 3% 9% 9% 15% 6.27 $2,810,503,285 HRZ Horizon 3% 0% -20% -43% 0.035 $23,132,461 TLM Talisman Mining 3% 29% -10% 29% 0.18 $33,897,663 RSG Resolute Mining 3% 1% -18% 88% 0.375 $777,103,255 EVN Evolution Mining Ltd 2% 2% 0% 24% 3.685 $6,889,439,505 HAW Hawthorn Resources 2% 4% 36% -17% 0.095 $31,156,452 SMI Santana Minerals Ltd 2% 41% 16% 14% 0.745 $133,373,631 CMM Capricorn Metals 2% -4% 7% -2% 4.52 $1,718,128,860 NST Northern Star 2% -5% -12% 6% 11.545 $13,376,933,790 WAF West African Res Ltd 2% 10% -5% -31% 0.815 $846,543,289 CST Castile Resources 2% 18% -42% -39% 0.058 $14,030,341 IDA Indiana Resources 2% 14% 16% 5% 0.058 $35,521,350 ERM Emmerson Resources 2% -8% -16% -21% 0.059 $32,137,877 TIE Tietto Minerals 2% 46% 18% -15% 0.6 $672,165,818 ICL Iceni Gold 2% -8% -13% -25% 0.06 $14,871,143 ADT Adriatic Metals 2% -4% 1% 2% 3.2 $767,839,786 ALK Alkane Resources Ltd 2% 1% -17% 20% 0.64 $388,952,100 MAU Magnetic Resources 1% -4% 86% 19% 1.025 $248,978,827 QML Qmines Limited 1% -18% -42% -56% 0.073 $15,186,676 SBM St Barbara Limited 1% -9% -26% -44% 0.1875 $151,324,520 HMG Hamelingoldlimited 1% 2% -32% -41% 0.085 $13,387,500 RRL Regis Resources 1% 7% -13% -14% 1.7675 $1,340,726,384 GOR Gold Road Res Ltd 0% -3% -3% 6% 1.7975 $1,970,311,460 NPM Newpeak Metals 0% 0% 0% 0% 0.001 $9,995,579 FFX Firefinch Ltd 0% 0% 0% 0% 0.2 $236,569,315 DCX Discovex Res Ltd 0% 0% -20% -33% 0.002 $6,605,136 AQX Alice Queen Ltd 0% -42% -59% -80% 0.007 $1,018,444 SLZ Sultan Resources Ltd 0% -27% -70% -81% 0.016 $2,371,041 AMI Aurelia Metals Ltd 0% 17% 5% -8% 0.11 $177,425,577 TMX Terrain Minerals 0% -20% -43% -33% 0.004 $5,413,711 NXM Nexus Minerals Ltd 0% 0% -52% -80% 0.04 $15,562,405 FAU First Au Ltd 0% -33% -43% -50% 0.002 $2,903,987 BBX BBX Minerals Ltd 0% 8% -59% -75% 0.026 $17,016,800 PRX Prodigy Gold NL 0% -11% -11% -33% 0.008 $15,759,970 CWX Carawine Resources 0% -3% 7% 7% 0.105 $24,793,172 SIH Sihayo Gold Limited 0% 33% 0% 0% 0.002 $24,408,512 HMX Hammer Metals Ltd 0% 16% -24% -26% 0.05 $44,320,367 WRM White Rock Min Ltd 0% 0% 0% -5% 0.063 $17,508,200 MCT Metalicity Limited 0% -20% 0% -33% 0.002 $8,502,172 MHC Manhattan Corp Ltd 0% -33% -20% -27% 0.004 $11,747,919 GUL Gullewa Limited 0% 0% 0% -8% 0.055 $10,767,521 VMC Venus Metals Cor Ltd 0% 0% -7% 27% 0.1 $18,972,868 MTH Mithril Resources 0% 33% -20% -43% 0.002 $6,737,609 XTC Xantippe Res Ltd 0% 0% -63% -67% 0.001 $17,528,005 TTM Titan Minerals 0% -16% -38% -52% 0.032 $47,273,551 NML Navarre Minerals Ltd 0% 0% -10% -54% 0.019 $28,555,654 BCN Beacon Minerals 0% 0% -13% -4% 0.027 $105,189,509 DCN Dacian Gold Ltd 0% -3% 235% 185% 0.285 $346,788,267 WWI West Wits Mining Ltd 0% -14% -20% -25% 0.012 $29,164,700 RML Resolution Minerals 0% -20% 0% -50% 0.004 $5,657,813 TBA Tombola Gold Ltd 0% 0% 0% 0% 0.026 $33,129,243 VRC Volt Resources Ltd 0% -13% -30% -53% 0.007 $24,780,640 HRN Horizon Gold Ltd 0% -3% -22% -6% 0.29 $42,003,578 CLA Celsius Resource Ltd 0% 0% -56% -31% 0.011 $26,952,620 AUC Ausgold Limited 0% 0% -40% -38% 0.029 $66,588,095 EMU EMU NL 0% -33% -50% -80% 0.001 $1,667,521 SFM Santa Fe Minerals 0% 0% -28% -46% 0.043 $3,131,208 X64 Ten Sixty Four Ltd 0% 0% 0% -11% 0.57 $130,184,182 SI6 SI6 Metals Limited 0% 20% -14% 0% 0.006 $11,963,157 OKR Okapi Resources 0% -8% -15% -27% 0.11 $23,136,962 TMZ Thomson Res Ltd 0% 0% 0% -74% 0.005 $4,881,018 WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031 NSM Northstaw 0% 173% -39% -47% 0.082 $9,850,414 RED Red 5 Limited 0% 10% 113% 61% 0.33 $1,125,211,506 CDR Codrus Minerals Ltd 0% 10% -54% -49% 0.066 $5,787,375 MDI Middle Island Res 0% -11% -59% -55% 0.016 $2,391,190 RDS Redstone Resources 0% 0% -13% -13% 0.007 $5,228,271 ALY Alchemy Resource Ltd 0% -9% -41% -57% 0.01 $11,780,763 SLR Silver Lake Resource 0% 5% -3% -14% 1.025 $962,786,663 LCY Legacy Iron Ore 0% 0% 21% -11% 0.017 $108,916,045 TAR Taruga Minerals 0% 0% -29% -58% 0.01 $7,060,268 GNM Great Northern 0% -5% -47% -67% 0.02 $3,092,582 BTR Brightstar Resources 0% 18% -13% -24% 0.013 $24,905,834 MOM Moab Minerals Ltd 0% -14% -29% -33% 0.006 $4,271,781 KNB Koonenberrygold 0% -12% -14% -42% 0.036 $4,310,967 ANL Amani Gold Ltd 0% 0% 0% 0% 0.001 $25,143,441 HAV Havilah Resources 0% 8% 4% -21% 0.26 $82,326,195 MEK Meeka Metals Limited 0% -16% 6% -47% 0.036 $42,694,522 FEG Far East Gold 0% -3% -49% -67% 0.16 $28,896,994 CLZ Classic Min Ltd 0% 0% 0% -89% 0.001 $12,357,082 PXX Polarx Limited 0% -11% -43% -60% 0.008 $10,917,317 PRU Perseus Mining Ltd 0% 3% -11% -18% 1.7275 $2,417,472,563 RMS Ramelius Resources 0% -12% 11% 64% 1.5275 $1,743,988,132 AZS Azure Minerals 0% 64% 716% 1678% 4 $1,830,131,504 IGO IGO Limited -1% -17% -40% -35% 8.79 $6,588,229,973 ARN Aldoro Resources -1% -5% -35% -48% 0.084 $11,308,394 WGX Westgold Resources. -1% 0% 28% 129% 2 $947,245,460 AAR Astral Resources NL -2% -11% -2% 6% 0.0765 $60,275,413 EMR Emerald Res NL -2% -15% 28% 109% 2.48 $1,543,864,656 PNM Pacific Nickel Mines -2% 27% 15% 18% 0.098 $40,988,804 LM8 Lunnonmetalslimited -2% -1% -33% -23% 0.685 $148,683,525 KRM Kingsrose Mining Ltd -2% -10% -21% -31% 0.045 $33,863,693 SPD Southernpalladium -3% -12% -18% -54% 0.37 $15,938,981 HCH Hot Chili Ltd -3% 5% 8% 23% 1.075 $129,598,049 FML Focus Minerals Ltd -3% 3% -6% -33% 0.17 $48,714,970 S2R S2 Resources -3% -19% 26% 0% 0.17 $67,665,101 ZNC Zenith Minerals Ltd -3% 72% 14% -38% 0.165 $58,142,846 KAI Kairos Minerals Ltd -3% -26% -15% -26% 0.0155 $41,934,595 BNZ Benzmining -3% -15% -13% -27% 0.3 $32,947,510 MEG Megado Minerals Ltd -3% -12% -32% -33% 0.03 $7,888,122 AWJ Auric Mining -3% 25% -3% -6% 0.06 $7,851,575 STN Saturn Metals -3% 8% -22% -22% 0.14 $26,609,892 GAL Galileo Mining Ltd -3% -13% -60% -68% 0.28 $56,323,104 FAL Falconmetalsltd -4% -4% -57% -52% 0.135 $23,895,000 KSN Kingston Resources -4% -4% -30% -1% 0.08 $40,334,909 GED Golden Deeps -4% 4% -13% -42% 0.052 $6,007,162 KCC Kincora Copper -4% -7% -62% -64% 0.026 $4,163,303 NVA Nova Minerals Ltd -4% -8% -25% -64% 0.245 $53,776,940 IPT Impact Minerals -4% 10% -8% 57% 0.011 $31,511,743 AME Alto Metals Limited -4% -2% -27% -36% 0.043 $30,710,604 AM7 Arcadia Minerals -4% -12% -50% -59% 0.085 $9,269,259 SBR Sabre Resources -5% 27% 68% 11% 0.042 $15,359,117 ADVDB Ardiden Ltd -5% 19% -32% -32% 0.205 $14,785,844 IVR Investigator Res Ltd -5% -3% -24% -10% 0.038 $56,049,631 SRN Surefire Rescs NL -5% -32% -50% -21% 0.0095 $16,530,778 GWR GWR Group Ltd -5% 1% 10% 27% 0.075 $24,091,249 SSR SSR Mining Inc. -5% -25% -28% -27% 16.93 $404,301,937 TRM Truscott Mining Corp -5% -13% 22% 34% 0.055 $9,535,188 SNG Siren Gold -5% -17% -45% -70% 0.055 $9,060,253 SMS Starmineralslimited -5% -20% -29% -50% 0.036 $2,688,221 BMO Bastion Minerals -6% 14% -52% -53% 0.016 $3,346,484 BNR Bulletin Res Ltd -6% 35% 131% 67% 0.155 $45,506,621 MRZ Mont Royal Resources -6% -6% 78% -11% 0.155 $12,755,715 AL8 Alderan Resource Ltd -6% -25% 7% 7% 0.0075 $7,748,029 DLI Delta Lithium -6% -19% -28% 4% 0.4825 $296,764,792 CY5 Cygnus Metals Ltd -6% 16% -38% -62% 0.145 $45,145,167 MM8 Medallion Metals. -6% -6% -38% -62% 0.058 $17,843,796 BEZ Besragoldinc -6% 46% -43% 179% 0.145 $71,077,154 REZ Resourc & En Grp Ltd -7% -7% 27% -13% 0.014 $5,997,669 ANX Anax Metals Ltd -7% -25% -63% -49% 0.027 $12,984,776 CHN Chalice Mining Ltd -7% -19% -80% -77% 1.4775 $569,831,240 ION Iondrive Limited -7% -7% -43% -48% 0.013 $5,835,423 ICG Inca Minerals Ltd -7% -32% -46% -43% 0.013 $7,597,662 DRE Dreadnought Resources Ltd -7% -25% -48% -70% 0.0315 $107,165,304 EMC Everest Metals Corp -7% -16% 21% 11% 0.088 $14,368,914 LCL LCL Resources Ltd -8% -20% -40% -58% 0.024 $20,651,916 GBR Greatbould Resources -8% -14% -28% -37% 0.057 $28,431,857 MVL Marvel Gold Limited -8% 10% -12% -58% 0.011 $9,501,698 ADN Andromeda Metals Ltd -8% 10% -42% -50% 0.022 $68,420,186 WCN White Cliff Min Ltd -8% -8% 57% -21% 0.011 $14,042,153 M2R Miramar -8% -35% -54% -71% 0.022 $2,977,391 VKA Viking Mines Ltd -8% 22% 38% 10% 0.011 $11,277,843 EM2 Eagle Mountain -8% -21% -45% -68% 0.055 $16,468,211 AAJ Aruma Resources Ltd -8% -3% -55% -38% 0.033 $6,103,637 SPQ Superior Resources -8% 16% -33% -61% 0.022 $36,691,075 RND Rand Mining Ltd -8% -4% 6% -8% 1.25 $73,938,749 SKY SKY Metals Ltd -9% 0% -19% -13% 0.042 $19,378,720 GSN Great Southern -9% -9% -5% -28% 0.021 $15,847,339 A8G Australasian Metals -9% -23% 19% -18% 0.155 $8,078,677 NMR Native Mineral Res -9% -3% -9% -73% 0.03 $6,502,266 SVG Savannah Goldfields -9% -21% -66% -74% 0.05 $10,022,011 CDT Castle Minerals -9% -9% -35% -52% 0.01 $13,469,423 DTR Dateline Resources -9% 0% -38% -73% 0.01 $13,129,455 A1G African Gold Ltd. -9% -32% -57% -64% 0.03 $5,079,336 MEI Meteoric Resources -10% -1% 4% 301% 0.2125 $408,260,396 MTC Metalstech Ltd -10% -15% -59% -73% 0.14 $26,404,643 GML Gateway Mining -10% -25% -55% -70% 0.018 $6,298,168 PUR Pursuit Minerals -10% 13% -50% -44% 0.009 $26,495,743 KAL Kalgoorliegoldmining -11% -11% -40% -70% 0.025 $3,710,851 BC8 Black Cat Syndicate -11% 37% -34% -30% 0.25 $75,941,336 LEX Lefroy Exploration -11% -3% -23% -37% 0.165 $31,408,280 CEL Challenger Gold Ltd -11% -16% -59% -62% 0.066 $88,169,568 MKR Manuka Resources. -11% -14% -33% -53% 0.04 $25,313,403 GPR Geopacific Resources -11% -6% -20% -50% 0.016 $13,147,478 BMR Ballymore Resources -12% -15% -21% -27% 0.11 $16,081,699 RXL Rox Resources -12% -20% -49% 3% 0.18 $68,406,091 WA8 Warriedarresourltd -12% -17% -60% -71% 0.05 $27,800,824 ARL Ardea Resources Ltd -12% -6% 19% -35% 0.46 $88,571,171 RMX Red Mount Min Ltd -13% -22% 17% -30% 0.0035 $9,357,516 LYN Lycaonresources -13% -8% -17% -36% 0.175 $7,489,563 MI6 Minerals260Limited -13% -14% -36% -7% 0.315 $73,710,000 TBR Tribune Res Ltd -13% -11% -26% -33% 2.7 $145,861,254 BAT Battery Minerals Ltd -13% 8% -67% -67% 0.04 $4,784,180 GBZ GBM Rsources Ltd -13% -28% -46% -70% 0.013 $7,443,862 GSM Golden State Mining -14% -44% -41% -56% 0.019 $4,299,485 DTM Dart Mining NL -15% -14% -70% -69% 0.017 $3,676,036 G88 Golden Mile Res Ltd -16% 5% 17% 3% 0.021 $7,246,569 MAT Matsa Resources -17% -11% -38% -32% 0.025 $12,843,199 TNC True North Copper -19% -17% 136% 136% 0.125 $32,480,181 BYH Bryah Resources Ltd -20% 14% -11% -38% 0.016 $5,737,685 PKO Peako Limited -20% -33% -56% -72% 0.004 $2,635,424 USL Unico Silver Limited -21% -9% -35% -46% 0.091 $26,940,695 ASO Aston Minerals Ltd -22% -15% -67% -64% 0.029 $38,851,928 XAM Xanadu Mines Ltd -22% -21% 6% 83% 0.053 $91,844,317 NAG Nagambie Resources -24% 40% -30% -58% 0.028 $14,543,158 SVY Stavely Minerals Ltd -25% -28% -58% -79% 0.052 $21,006,705 MKG Mako Gold -25% -48% -61% -74% 0.0105 $6,048,086 AVW Avira Resources Ltd -25% 0% -50% -50% 0.0015 $3,200,685 PNT Panthermetalsltd -25% -25% -26% -70% 0.057 $3,669,000 ARV Artemis Resources -28% 44% 136% 4% 0.026 $40,608,765 OAU Ora Gold Limited -29% -33% 25% 0% 0.005 $33,733,005 RDN Raiden Resources Ltd -31% 100% 1200% 995% 0.052 $134,222,217 OZM Ozaurum Resources -33% 61% 200% 105% 0.135 $23,018,750 GMR Golden Rim Resources -33% -43% -63% -61% 0.012 $7,099,060 AYM Australia United Min -33% -33% -50% -33% 0.002 $3,685,155 ASR Asra Minerals Ltd -39% 21% -6% -58% 0.0085 $13,105,851

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