Gold Digger: Gold snags a Straya Day recovery on mixed US inflation data

The price of gold made a decent recovery at back end of week after mixed US economy/inflation data flowed in
But… all-in sustaining costs for global gold producers is still a strain in the current climate, says top gold analysts Metals Focus
The week’s top ASX gold-related stocks led by NRM, DTR, AYM

Your gold and ASX gold stocks roundup, Straya Day, January 26.

After a droopy handful of days, the price of gold has recovered a tad towards the end of this work-shortened Australia Day week.

The XAU/USD spot gold price is trading around US$2,026 – back close again to where it was this time last week, having been down more than a tenner a few days ago.

In plastic fantastic, dinky-di, you-beaut Aussie dollars, it’s passing hands for $3,075.

No disaster, then, and the bulls still have the overall trend, this column reckons.

Analytical types were putting the earlier dip down to rising US yields ahead of key economic indicators from the US.

Those Personal Consumption Expenditures (PCE) and preliminary Q4 Gross Domestic Product (GDP) figures are now released into the wild over in the States, which will have some sort of bearing on the Fed’s interest rates stance.

To back off in March, or nay… that is the question. Many a cautious trader has reportedly been predicting cuts are more likely to kick in come May now. The CME Fedwatch probability tool shows a slump to about 49% for March on a potential cut, from up around 70% a week or two ago.

But those Treasury bond yields… they’ve now fallen back a bit amid a strong US GDP and weak durable goods and labour market data print.

As reported by Reuters, the US economy grew faster than expected in the fourth quarter amid strong consumer spending, with growth for the full year coming in at 2.5%. The report also revealed fourth-quarter inflation pressures subsiding.

And so far, gold has responded well to the mixed news that, on the whole, indicates the pace of inflation is slowing in the US of A.

And that’s despite gold so often being regarded as a high-inflation hedge. That narrative is not always so cut and dried. A sticky, “higher-for-longer” inflation path in the US can also strengthen the US dollar, limiting gold’s upside.

In any case, some things are worth more than the price of gold – in fact many, many things are, even Bitcoin (in actual US dollars per designated favoured unit anyway).

Obviously human life is one of those things, so a solemn nod today to this tragic occurrence over in one of Africa’s biggest gold producing countries – Mali – where an unregulated mine collapsed on Thursday, killing more than 70…

More than 70 people were killed in a collapse of a tunnel at a gold mining site in southwest Mali, local media reported Wednesday. pic.twitter.com/5W529UIiL2

— China Xinhua News (@XHNews) January 25, 2024

A lack of compliance within the “artisinal” mining sector in Mali and other African countries is an ongoing issue, hence an increased potential for horrendous accidents like this one.

High all-in sustaining costs tempering miner profits

Independent precious metals research outfit Metals Focus has released its latest report, and it reveals the global AISC (all in sustaining costs) for primary global gold producers is still high, still a challenge to negotiate in the current climate, despite the uptrending yellow metal spot price.

“The global average all-in sustaining cost (AISC) of primary gold producers broke the quarterly all-time high record again as it reached $1,343/oz in Q3.23,” according to the Metals Focus Gold Mines Cost Service published in December.

“Although inflation, in the input costs of gold production, has shown signs of easing, AISC continued to rise due to some operational constraints.”

Persistent inflation then, along with rising fuel and energy costs due to geopolitical turmoil, has been having a strong impact on AISC, keeping it elevated. For now.

“Mines operating with a $1,343/oz AISC would have been driven to suspension or closure if this persisted five years ago, but currently AISC margins remain healthy due to a higher gold price,” wrote Metals Focus.

“However, the inflated cost of extracting gold is dampening what mining companies could earn in profits in this high gold price market.”

Roll on that Fed inflation-taming, interest-rate-cutting narrative, then. Roll on, May 2024.

Moving on, let’s look for some more immediate happier news. We’ll find that locally.

Best-performing ASX gold stocks over the past week

The week’s biggest gainers

Native Mineral Resources (ASX:NMR) +69%

Up on no news.

Recap: in mid November, we reported the following >

NMR agreed to purchase interests in two near-term gold projects in QLD
A JV will be created with Ashby Mining
The company is committing to spend $2m in exploration

Australia United Mining (ASX:AYM) +50%

Up on no fresh news.

Dateline Resources (ASX:DTR) +44%

Trending up on an update on exploration at the Colosseum gold mine in California, where drilling resumed in December.

A significant intersection reported – with sulphides (pyrite, sphalerite, galena and minor electrum) over 133m.

“Drillhole CM23-14 was drilled to test a revised geological model and expand upon the high-grade sedimentary breccia zone identified in CM23-08, which returned exceptional results of 76.2m at 8.62g/t Au,” detailed the company this week.

Castile Resources (ASX:CST) +38%

Up on no fresh news.

Castle Minerals (ASX:CDT) +33%

Up on no fresh news.

Other head-turning Aussie goldies…

… although not necessarily reflected in head-turning share-price gains. Yet.

Emerald Resources (ASX:EMR)

One of the ASX’s top performing gold producers Emerald Resources (ASX:EMR) had a notable drilling week, hitting significant gold mineralisation figures at two of its big projects, North Laverton in WA and Okvau in Cambodia.

This table, per Market Index, shows the standout results for EMR, with 3.26m at 111.79g/t Au from 214.74m at North Laverton… and 19m at 5.32g/t Au from 379m at Okvau.

Source: Market Index – marketindex.com.au

And you can see for yourself the other standout drillers on that list, including Spartan, Santana, St Barbara, Brightstar, Antilles and Hamelin.

Hamelin Gold (ASX:HMG)

… is also worth a special mention because along with pure-play copper hunter Cobre (ASX:CBE), it got a major boost this week after being selected for BHP’s latest cohort of six projects (whittled down from more than 500) in the titan miner’s accelerator/funding program Xplor.

Perth-based Hamelin is on the hunt for gold as well as nickel-copper-PGE mineralised intrusions over in the Tanami Gold Province in Western Australia.

It’s the Ni-cu-PGE aspect that’s essentially helped land Hamelin in the program, though, which will see BHP provide HMG with up to US$500,000 in non-dilutive funding to support its exploration plans for those minerals.

Hamelin Gold MD Peter Bewick noted:

“The Xplor funded program will be completed in parallel to our ongoing gold exploration in the Tanami which includes a planned RC drill program at the Sultan prospect commencing in March-April 2024.

“This program is following up the identification through aircore drilling of extensive bedrock gold mineralisation at Sultan announced earlier in January 2024.”

Magnetic Resources (ASX:MAU)

Magnetic Resources may have just enjoyed an upgrade to gold resources at its Laverton project in WA, but new drilling has proven there’s plenty of room for growth after returning a 550m depth extension at Lady Julie North 4.

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 % Year Market Cap MRR Minrex Resources Ltd 0.014 0% -18% -62% $15,188,145 NPM Newpeak Metals 0.016 -16% -11% -84% $1,599,228 ASO Aston Minerals Ltd 0.019 -5% -27% -81% $24,606,221 MTC Metalstech Ltd 0.22 0% 13% -56% $41,570,010 FFX Firefinch Ltd 0.2 0% 0% 0% $236,569,315 GED Golden Deeps 0.039 -3% -17% -61% $4,505,372 G88 Golden Mile Res Ltd 0.015 -6% -12% -35% $4,940,843 DCX Discovex Res Ltd 0.001 -33% -33% -67% $3,302,568 NMR Native Mineral Res 0.027 69% 17% -72% $5,663,264 AQX Alice Queen Ltd 0.006 -14% 20% -82% $4,145,905 SLZ Sultan Resources Ltd 0.016 0% -30% -79% $2,371,041 MKG Mako Gold 0.009 0% 0% -80% $5,961,685 KSN Kingston Resources 0.081 7% -1% -33% $40,334,909 AMI Aurelia Metals Ltd 0.099 -1% -6% -28% $167,286,973 PNX PNX Metals Limited 0.0035 -13% 17% -7% $18,832,187 GIB Gibb River Diamonds 0.029 -6% -3% -57% $6,133,774 KCN Kingsgate Consolid. 1.28 4% -7% -31% $329,922,166 TMX Terrain Minerals 0.005 0% 0% -23% $7,158,353 BNR Bulletin Res Ltd 0.089 -11% -26% -7% $26,131,586 NXM Nexus Minerals Ltd 0.04 -9% -7% -81% $15,562,405 SKY SKY Metals Ltd 0.031 -16% -16% -54% $14,303,341 LM8 Lunnonmetalslimited 0.31 -28% -48% -69% $67,381,983 CST Castile Resources 0.088 38% 7% -5% $21,287,414 YRL Yandal Resources 0.083 -25% 2% -15% $19,482,271 FAU First Au Ltd 0.003 0% 0% -33% $4,985,980 ARL Ardea Resources Ltd 0.4 -7% -15% -50% $78,806,766 GWR GWR Group Ltd 0.087 2% -4% 45% $27,945,849 IVR Investigator Res Ltd 0.035 3% -5% -24% $55,435,785 GTR Gti Energy Ltd 0.01 -17% 33% -8% $20,499,471 IPT Impact Minerals 0.013 8% 30% 18% $37,241,151 BNZ Benzmining 0.19 -10% -19% -56% $21,178,535 MOH Moho Resources 0.01 0% -9% -55% $5,359,412 BCM Brazilian Critical 0.0245 -2% -6% -80% $18,128,942 PUA Peak Minerals Ltd 0.0025 -17% -17% -50% $2,603,442 MRZ Mont Royal Resources 0.11 0% -27% -33% $9,353,277 SMS Starmineralslimited 0.037 -8% 6% -58% $2,809,144 MVL Marvel Gold Limited 0.009 -18% -31% -61% $7,774,116 PRX Prodigy Gold NL 0.005 -17% -17% -58% $8,755,539 AAU Antilles Gold Ltd 0.022 0% 0% -45% $18,884,459 CWX Carawine Resources 0.105 0% -5% -11% $24,793,172 RND Rand Mining Ltd 1.375 0% 1% -4% $78,204,446 CAZ Cazaly Resources 0.02 -26% -35% -38% $9,092,726 BMR Ballymore Resources 0.14 0% 14% -13% $24,686,282 DRE Dreadnought Resources Ltd 0.022 -21% -29% -77% $76,539,605 ZNC Zenith Minerals Ltd 0.16 -3% -6% -36% $56,380,941 REZ Resourc & En Grp Ltd 0.011 -15% -8% -21% $5,497,864 LEX Lefroy Exploration 0.15 -6% -14% -40% $29,960,595 ERM Emmerson Resources 0.05 2% -9% -38% $27,235,489 AM7 Arcadia Minerals 0.07 0% -9% -71% $7,633,507 ADT Adriatic Metals 3.21 -6% -8% -3% $777,165,637 AS1 Asara Resources Ltd 0.012 0% 0% -61% $9,512,771 CYL Catalyst Metals 0.69 1% -12% -49% $151,908,705 CHN Chalice Mining Ltd 1.05 -1% -37% -84% $408,411,469 KAL Kalgoorliegoldmining 0.026 0% 4% -69% $4,121,019 MLS Metals Australia 0.033 -8% -6% -41% $20,593,194 ADN Andromeda Metals Ltd 0.024 -8% 9% -57% $74,640,202 MEI Meteoric Resources 0.2 -15% -18% 115% $398,023,969 SRN Surefire Rescs NL 0.011 22% 22% -27% $21,594,736 SIH Sihayo Gold Limited 0.002 0% 33% 0% $24,408,512 WA8 Warriedarresourltd 0.04 -32% -26% -75% $20,416,876 HMX Hammer Metals Ltd 0.041 -2% -16% -41% $36,342,701 WCN White Cliff Min Ltd 0.015 -6% 67% 25% $19,400,390 AVM Advance Metals Ltd 0.033 -8% -18% -86% $1,322,803 WRM White Rock Min Ltd 0.063 0% 0% -6% $17,508,200 ASR Asra Minerals Ltd 0.007 17% -13% -56% $11,455,470 MCT Metalicity Limited 0.002 0% 0% -33% $8,970,108 AME Alto Metals Limited 0.031 -16% -28% -56% $22,367,218 CTO Citigold Corp Ltd 0.005 0% -17% -17% $15,000,000 TIE Tietto Minerals 0.61 1% -1% -21% $689,233,175 SMI Santana Minerals Ltd 1.295 0% 34% 77% $230,291,803 M2R Miramar 0.024 -14% 14% -68% $3,572,869 MHC Manhattan Corp Ltd 0.004 0% 0% -43% $11,747,919 GRL Godolphin Resources 0.042 0% 5% -58% $7,108,165 SVG Savannah Goldfields 0.039 0% -10% -76% $8,772,769 EMC Everest Metals Corp 0.079 3% -4% -20% $12,978,366 GUL Gullewa Limited 0.055 0% 0% 6% $11,262,521 CY5 Cygnus Metals Ltd 0.075 -25% -40% -83% $21,866,935 G50 Gold50Limited 0.1 -17% -23% -50% $10,929,000 ADV Ardiden Ltd 0.16 -9% -11% -50% $10,002,801 AAR Astral Resources NL 0.067 3% -7% -15% $53,137,535 VMC Venus Metals Cor Ltd 0.096 -1% -9% 3% $18,213,954 NAE New Age Exploration 0.004 -20% -33% -50% $7,175,596 VKA Viking Mines Ltd 0.012 -14% -8% 50% $12,303,101 LCL LCL Resources Ltd 0.013 -13% -19% -69% $12,364,905 MTH Mithril Resources 0.002 0% 0% -33% $6,737,609 ADG Adelong Gold Limited 0.005 11% 0% -64% $3,498,278 RMX Red Mount Min Ltd 0.003 0% 0% -40% $8,020,728 PRS Prospech Limited 0.04 -9% 18% 24% $10,805,949 TTM Titan Minerals 0.023 0% -18% -69% $38,899,195 NML Navarre Minerals Ltd 0.019 0% 0% -54% $28,555,654 MZZ Matador Mining Ltd 0.033 -3% -28% -69% $17,312,707 KZR Kalamazoo Resources 0.099 -1% -6% -54% $17,128,765 BCN Beacon Minerals 0.024 -4% -8% -20% $90,162,436 MAU Magnetic Resources 0.965 7% -4% 21% $236,103,906 BC8 Black Cat Syndicate 0.245 14% -4% -37% $74,422,509 EM2 Eagle Mountain 0.073 1% -3% -72% $22,262,581 EMR Emerald Res NL 3.26 0% 6% 132% $2,038,451,848 BYH Bryah Resources Ltd 0.012 -8% -14% -51% $5,203,287 HCH Hot Chili Ltd 1.04 6% 3% 5% $124,223,014 WAF West African Res Ltd 0.94 1% -3% -20% $964,757,792 MEU Marmota Limited 0.048 9% 9% 4% $50,822,428 NVA Nova Minerals Ltd 0.35 8% 3% -50% $73,811,486 SVL Silver Mines Limited 0.15 -3% -6% -33% $210,649,821 PGD Peregrine Gold 0.32 0% 33% -44% $21,438,874 ICL Iceni Gold 0.046 -15% -13% -56% $11,341,808 FG1 Flynngold 0.069 15% 35% -33% $10,054,973 WWI West Wits Mining Ltd 0.012 0% 0% -33% $29,164,700 RML Resolution Minerals 0.003 0% 0% -63% $3,779,990 AAJ Aruma Resources Ltd 0.02 -26% -23% -76% $3,937,830 AL8 Alderan Resource Ltd 0.004 -20% -27% -56% $4,427,445 GMN Gold Mountain Ltd 0.004 0% -20% -33% $9,076,314 MEG Megado Minerals Ltd 0.023 -15% -12% -48% $5,852,478 HMG Hamelingoldlimited 0.075 -4% 14% -44% $11,812,500 TBA Tombola Gold Ltd 0.026 0% 0% 0% $33,129,243 BM8 Battery Age Minerals 0.17 -8% -8% -66% $15,153,288 TBR Tribune Res Ltd 3.02 3% 7% -23% $158,453,593 FML Focus Minerals Ltd 0.175 -3% 0% -5% $50,147,763 GSR Greenstone Resources 0.008 14% 14% -74% $10,944,908 VRC Volt Resources Ltd 0.007 8% 17% -50% $28,910,747 ARV Artemis Resources 0.015 -17% -25% -42% $25,367,942 HRN Horizon Gold Ltd 0.3 0% 0% -14% $43,451,977 CLA Celsius Resource Ltd 0.011 0% -15% -45% $24,706,568 QML Qmines Limited 0.072 -4% -12% -61% $15,186,676 RDN Raiden Resources Ltd 0.026 -7% -32% 447% $69,070,693 TCG Turaco Gold Limited 0.125 -4% 4% 102% $73,511,111 KCC Kincora Copper 0.031 -23% -33% -66% $6,161,717 GBZ GBM Rsources Ltd 0.008 0% -11% -84% $5,851,463 DTM Dart Mining NL 0.014 -7% -13% -74% $3,186,115 MKR Manuka Resources. 0.084 20% 2% -10% $47,470,085 AUC Ausgold Limited 0.026 0% -10% -56% $59,699,671 ANX Anax Metals Ltd 0.02 -17% -33% -69% $9,670,353 EMU EMU NL 0.001 0% -33% -82% $2,024,771 SFM Santa Fe Minerals 0.043 0% 0% -43% $3,131,208 SSR SSR Mining Inc. 14.58 -4% -10% -40% $93,400,369 PNR Pantoro Limited 0.041 -9% -21% -63% $213,365,251 CMM Capricorn Metals 4.51 5% -5% -7% $1,701,713,254 X64 Ten Sixty Four Ltd 0.57 0% 0% -14% $130,184,182 SI6 SI6 Metals Limited 0.005 0% 0% -17% $9,969,297 HAW Hawthorn Resources 0.098 0% -1% -7% $32,831,530 BGD Bartongoldholdings 0.25 4% 0% 9% $49,131,134 SVY Stavely Minerals Ltd 0.033 -25% -30% -87% $12,604,023 AGC AGC Ltd 0.065 0% -10% 0% $14,444,444 RGL Riversgold 0.01 -9% -17% -67% $9,676,615 TSO Tesoro Gold Ltd 0.024 -8% -4% -27% $29,509,937 GUE Global Uranium 0.145 -9% 53% -29% $30,770,301 CPM Coopermetalslimited 0.28 -8% -16% 14% $18,019,582 MM8 Medallion Metals. 0.059 -2% -5% -60% $18,151,447 FFM Firefly Metals Ltd 0.53 0% -15% -37% $192,227,948 CBY Canterbury Resources 0.03 20% 0% -25% $5,152,227 LYN Lycaonresources 0.19 -5% 6% -27% $8,370,688 SFR Sandfire Resources 7.05 7% 2% 10% $3,221,796,448 TMZ Thomson Res Ltd 0.005 0% 0% -75% $4,881,018 TAM Tanami Gold NL 0.033 -6% -8% -23% $38,778,203 WMC Wiluna Mining Corp 0.205 0% 0% 0% $74,238,031 NWM Norwest Minerals 0.025 -4% -7% -64% $7,189,238 ALK Alkane Resources Ltd 0.55 -3% -17% -19% $331,890,524 BMO Bastion Minerals 0.014 -13% -13% -75% $4,360,217 IDA Indiana Resources 0.083 5% 30% 43% $51,064,676 GSM Golden State Mining 0.011 -8% -27% -74% $3,073,077 NSM Northstaw 0.04 -18% -20% -81% $5,595,031 GSN Great Southern 0.019 6% -5% -32% $14,338,069 RED Red 5 Limited 0.325 12% 8% 35% $1,125,735,178 DEG De Grey Mining 1.2 3% -7% -23% $2,221,518,630 THR Thor Energy PLC 0.035 -10% 21% -42% $6,511,271 CDR Codrus Minerals Ltd 0.05 -18% -12% -62% $4,619,375 MDI Middle Island Res 0.015 -12% 0% -74% $3,264,810 WTM Waratah Minerals Ltd 0.1 18% -13% -17% $14,936,450 POL Polymetals Resources 0.285 0% -8% 46% $44,921,075 RDS Redstone Resources 0.005 0% 0% -50% $4,626,892 NAG Nagambie Resources 0.026 -7% -7% -52% $20,644,981 BGL Bellevue Gold Ltd 1.295 -9% -23% 4% $1,490,451,867 GBR Greatbould Resources 0.058 -2% -12% -33% $34,723,858 KAI Kairos Minerals Ltd 0.013 0% -13% -40% $34,071,858 KAU Kaiser Reef 0.12 -6% -29% -37% $20,525,267 HRZ Horizon 0.035 -3% -17% -44% $24,534,429 CAI Calidus Resources 0.17 -19% -15% -56% $104,094,568 CDT Castle Minerals 0.008 33% -6% -64% $9,795,944 RSG Resolute Mining 0.42 2% -6% 50% $894,201,005 MXR Maximus Resources 0.035 -17% 0% -10% $11,233,102 EVN Evolution Mining Ltd 3.17 2% -19% -1% $6,262,355,700 CXU Cauldron Energy Ltd 0.038 -14% 58% 543% $43,525,127 DLI Delta Lithium 0.275 -5% -40% -46% $195,750,402 ALY Alchemy Resource Ltd 0.008 -11% -20% -50% $9,424,610 HXG Hexagon Energy 0.012 20% 0% -20% $6,154,991 OBM Ora Banda Mining Ltd 0.23 0% 0% 180% $392,557,070 SLR Silver Lake Resource 1.2 4% 1% -18% $1,121,693,200 AVW Avira Resources Ltd 0.001 -50% -50% -67% $2,133,790 LCY Legacy Iron Ore 0.017 6% 6% 0% $108,916,045 PDI Predictive Disc Ltd 0.2 3% -5% 8% $415,248,818 MAT Matsa Resources 0.028 0% 4% -28% $13,407,073 ZAG Zuleika Gold Ltd 0.02 0% 5% 11% $14,721,710 GML Gateway Mining 0.024 9% -4% -65% $8,169,981 SBM St Barbara Limited 0.175 -3% -13% -43% $143,144,817 SBR Sabre Resources 0.027 -10% -7% -41% $10,105,072 STK Strickland Metals 0.115 17% 34% 203% $190,934,821 ION Iondrive Limited 0.011 -8% -8% -59% $5,349,138 CEL Challenger Gold Ltd 0.073 4% 12% -58% $92,065,291 LRL Labyrinth Resources 0.006 0% -14% -67% $7,125,262 NST Northern Star 12.9 6% -6% 2% $14,824,952,396 OZM Ozaurum Resources 0.079 -25% -34% 5% $12,541,250 TG1 Techgen Metals Ltd 0.055 -5% -28% -39% $5,286,495 XAM Xanadu Mines Ltd 0.052 0% -5% 68% $88,442,675 AQI Alicanto Min Ltd 0.032 -9% -9% -43% $19,690,778 KTA Krakatoa Resources 0.02 -5% -44% -50% $9,442,144 ARN Aldoro Resources 0.088 5% 7% -58% $11,846,889 WGX Westgold Resources. 2.07 2% -5% 73% $980,399,051 MBK Metal Bank Ltd 0.024 -11% -11% -39% $9,371,023 A8G Australasian Metals 0.125 -7% -26% -34% $6,515,062 TAR Taruga Minerals 0.008 0% -33% -64% $5,648,214 DTR Dateline Resources 0.013 44% 30% -64% $17,284,230 GOR Gold Road Res Ltd 1.71 2% -15% -1% $1,848,854,120 S2R S2 Resources 0.15 3% -17% -12% $67,778,699 NES Nelson Resources. 0.004 -20% 0% -43% $2,454,377 TLM Talisman Mining 0.205 -13% -5% 24% $38,605,672 BEZ Besragoldinc 0.15 11% 0% 213% $62,715,136 PRU Perseus Mining Ltd 1.865 7% 0% -18% $2,561,696,778 SPQ Superior Resources 0.014 -7% 8% -79% $28,017,086 PUR Pursuit Minerals 0.006 -14% -20% -73% $17,663,828 RMS Ramelius Resources 1.55 2% -10% 48% $1,765,846,733 PKO Peako Limited 0.004 0% -20% -79% $2,108,339 ICG Inca Minerals Ltd 0.009 0% -10% -61% $5,290,437 A1G African Gold Ltd. 0.036 -3% 33% -60% $6,095,204 OAU Ora Gold Limited 0.006 -14% 0% 37% $34,146,005 GNM Great Northern 0.02 5% 0% -56% $3,092,582 KRM Kingsrose Mining Ltd 0.033 -15% -18% -55% $24,833,375 BTR Brightstar Resources 0.012 -14% -20% -54% $28,444,546 RRL Regis Resources 2.16 4% 0% -5% $1,631,531,825 M24 Mamba Exploration 0.055 0% 34% -73% $3,524,525 TRM Truscott Mining Corp 0.05 0% -9% -33% $8,668,353 TNC True North Copper 0.09 10% -18% 70% $34,635,731 MOM Moab Minerals Ltd 0.007 0% 0% -30% $4,983,744 KNB Koonenberrygold 0.06 -25% 25% 5% $7,184,945 AWJ Auric Mining 0.096 -20% -4% 71% $12,562,521 AZS Azure Minerals 3.61 -2% -3% 1065% $1,655,833,266 ENR Encounter Resources 0.27 -4% -10% 64% $108,607,711 SNG Siren Gold 0.069 0% 17% -61% $11,101,075 STN Saturn Metals 0.19 3% 9% 3% $42,436,539 USL Unico Silver Limited 0.11 5% -8% -29% $32,565,675 PNM Pacific Nickel Mines 0.051 -15% -43% -38% $21,330,908 AYM Australia United Min 0.003 50% 0% -25% $5,527,732 ANL Amani Gold Ltd 0.001 0% 0% 0% $25,143,441 HAV Havilah Resources 0.155 -9% -23% -59% $49,079,078 SPR Spartan Resources 0.425 5% -15% 154% $405,476,837 PNT Panthermetalsltd 0.05 -17% -17% -73% $4,358,308 MEK Meeka Metals Limited 0.037 -8% -8% -35% $45,684,230 GMD Genesis Minerals 1.565 -2% -11% 20% $1,721,284,910 PGO Pacgold 0.165 -13% -13% -55% $13,883,998 FEG Far East Gold 0.14 4% 0% -69% $25,284,869 MI6 Minerals260Limited 0.19 -24% -43% -50% $44,460,000 IGO IGO Limited 7.47 5% -17% -53% $5,656,790,563 GAL Galileo Mining Ltd 0.205 -7% -18% -78% $40,513,110 RXL Rox Resources 0.15 -3% -19% -23% $55,403,139 KIN KIN Min NL 0.0615 1% -4% 16% $72,456,259 CLZ Classic Min Ltd 0.001 0% 0% -88% $12,357,082 TGM Theta Gold Mines Ltd 0.1 -5% -9% 56% $70,707,501 FAL Falconmetalsltd 0.135 8% 0% -49% $23,895,000 SXG Southern Cross Gold 1.085 7% -18% 51% $97,710,351 SPD Southernpalladium 0.31 -3% -15% -62% $13,354,281 ORN Orion Minerals Ltd 0.014 8% 0% -7% $81,830,486 TMB Tambourahmetals 0.0825 -13% -28% -31% $6,842,579 TMS Tennant Minerals Ltd 0.029 -12% -19% -17% $22,163,634 AZY Antipa Minerals Ltd 0.015 0% -12% -35% $62,022,119 PXX Polarx Limited 0.012 33% 100% -56% $19,675,401 TREDA Toubani Res Ltd 0.13 8% -10% -41% $17,402,537 AUN Aurumin 0.028 -7% 27% -56% $10,036,406 GPR Geopacific Resources 0.015 -6% -29% -45% $12,325,761 FXG Felix Gold Limited 0.042 -9% -13% -62% $4,985,669 ILT Iltani Resources Lim 0.175 -8% 25% 0% $5,951,838 ARD Argent Minerals 0.008 -11% -20% -53% $10,334,072

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Gold-based IPOs we’re keeping an eye on

Golden Globe Resources (ASX:GGR)

Expected listing: January 18, 2024

IPO:$6 million at 20 cents/share

The gold explorer with projects in Queensland, WA and NSW was down to list on the local bourse in October 2023. In the last four years, the company says it has acquired four projects with high prospectivity including Dooloo Creek and Alma in Queensland, Crossways in Western Australia, and Neila Creek in NSW.

GGR says each of these projects offers substantial opportunities for gold resources, including high-grade copper. The explorer has conducted extensive drilling and sampling at Dooloo Creek, yielding impressive results over the past two years.

There are plans for further drilling across all GGR projects, with an immediate focus on Neila Creek and ongoing efforts at Dooloo Creek.

K S Capital is lead manager of the float.

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