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This Stag Party Could Get Wild, Especially for the Gold Price

Gold’s bullish momentum has dissipated quickly since printing a fresh 52-week high of US$2,067 on 4 May But stagflation fears … Read More
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This article was originally published by Stockhead
  • Gold’s bullish momentum has dissipated quickly since printing a fresh 52-week high of US$2,067 on 4 May
  • But stagflation fears are building: of the 4 phases since 1973, stagflation is the one that is most supportive for gold
  • ASX Gold Stocks of the Week: First Au, Polymetal Resources, Desoto, and Auric Mining.

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

 

Gold’s bullish momentum dissipated quickly since printing a fresh 52-week high of US$2,067 on 4 May.

That’s the third time since 2020 gold has sold off violently from its highs, although we have some way to go to match the precipitous falls of 2020 and 2022.

This week, gold prices continued to weaken on a glut of economic data which supported the argument for more Fed tightening.

Gold is currently paying US$1948/oz, or $2991/oz Aussie, which is still pretty good.

 

 

It now looks like Wall Street is pricing in one more Fed rate hike, OANDA senior market analyst Ed Moya says.

Tight Fed = bad for gold. Loose Fed = good for gold.

And yet there a number of factors pointing to a new all-time high for gold sooner rather than later, Ed’s colleague Kelvin Wong says.

One of these is economic stagflation, an unusual and frankly terrible period of stagnant economic growth, high unemployment and persistently high inflation.

According to the World Gold Council, of the four business cycle phases since 1973, stagflation is the one that is most supportive for gold and, conversely, the worst for risk assets.

“Slower global growth and elevated sticky inflation is a toxic concoction that led to a stagflation environment where gold tends to outperform other asset classes in the past,” Wong says.

“Recent soft key leading economic data from the two largest economies, the US and China have increased the odds of an impending global recession in the second half of the year.

“Meanwhile forward-looking inflationary pressures have appeared to be getting stickier.”

 

Winners & Losers

Here’s how the ASX-listed precious metals stocks are performing this week:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.

Stocks missing from this list? Email [email protected] to complain.

CODE COMPANY 1 WEEK RETURN % YTD RETURN % 12 MONTH RETURN % PRICE MARKET CAP
SVY Stavely Minerals Ltd 42% -31% -50% 0.17 $52,203,795
NAE New Age Exploration 40% 0% -30% 0.007 $10,051,292
FAU First Au Ltd 33% 0% -69% 0.004 $5,081,976
MCT Metalicity Limited 33% -33% -60% 0.002 $7,451,303
GMN Gold Mountain Ltd 33% -43% -33% 0.004 $5,909,798
AYM Australia United Min 33% 33% -33% 0.004 $7,370,310
SIH Sihayo Gold Limited 25% 25% -38% 0.0025 $12,204,256
RML Resolution Minerals 25% -38% -55% 0.005 $6,286,459
MEG Megado Minerals Ltd 25% 11% -63% 0.05 $11,959,411
GNM Great Northern 25% -38% -50% 0.0025 $4,272,627
SI6 SI6 Metals Limited 20% 0% -33% 0.006 $8,972,368
MVL Marvel Gold Limited 18% -50% -68% 0.013 $12,087,988
SLZ Sultan Resources Ltd 18% -45% -70% 0.047 $5,097,798
TMX Terrain Minerals 17% 17% -30% 0.007 $8,665,594
RDN Raiden Resources Ltd 17% -26% -67% 0.0035 $6,491,039
CXU Cauldron Energy Ltd 17% 0% -44% 0.007 $6,520,981
M2R Miramar 16% -38% -58% 0.05 $4,179,851
LYN Lycaonresources 16% -22% -52% 0.215 $7,077,531
BNZ Benzmining 16% -4% -40% 0.395 $32,813,131
MEI Meteoric Resources 16% 315% 1592% 0.22 $398,613,170
AVM Advance Metals Ltd 14% -20% -38% 0.008 $4,708,470
HAW Hawthorn Resources 14% -30% -30% 0.08 $26,801,249
LCY Legacy Iron Ore 14% -16% -36% 0.016 $96,102,393
ZAG Zuleika Gold Ltd 14% -24% -58% 0.016 $8,368,810
OKR Okapi Resources 14% -17% -44% 0.125 $21,284,892
NSM Northstaw 14% -19% -42% 0.125 $16,817,780
TRM Truscott Mining Corp 14% 22% 0% 0.05 $7,856,382
AWJ Auric Mining 13% -20% -42% 0.051 $7,066,418
MOM Moab Minerals Ltd 13% 0% -67% 0.009 $5,796,690
ADN Andromeda Metals Ltd 11% -11% -61% 0.039 $111,960,304
DLI Delta Lithium 11% 34% 8% 0.635 $293,098,535
XTC Xantippe Res Ltd 11% 0% -58% 0.005 $57,400,498
THR Thor Energy PLC 11% -17% -60% 0.005 $7,368,064
TCG Turaco Gold Limited 10% -7% -40% 0.054 $27,649,417
STK Strickland Metals 10% 13% -38% 0.045 $68,359,298
KSN Kingston Resources 10% 42% -12% 0.115 $45,721,902
ENR Encounter Resources 9% 64% 119% 0.295 $95,991,961
TMB Tambourahmetals 9% -5% -52% 0.1 $3,707,334
KTA Krakatoa Resources 8% -41% -66% 0.026 $9,084,415
LCL Los Cerros Limited 8% -25% -28% 0.043 $33,360,787
EMC Everest Metals Corp 7% 14% -14% 0.09 $11,001,814
BM8 Battery Age Minerals 7% -25% -25% 0.375 $26,718,539
BTR Brightstar Resources 7% -12% -38% 0.015 $12,489,432
TGM Theta Gold Mines Ltd 7% 10% -32% 0.075 $42,997,483
AZY Antipa Minerals Ltd 7% -29% -66% 0.015 $53,938,604
DTR Dateline Resources 7% -57% -85% 0.016 $11,430,288
TMS Tennant Minerals Ltd 7% 3% -18% 0.032 $24,301,869
TAM Tanami Gold NL 6% -13% -38% 0.034 $39,953,300
MAU Magnetic Resources 6% -38% -63% 0.53 $133,683,948
AAU Antilles Gold Ltd 6% 20% -48% 0.036 $20,312,225
CAI Calidus Resources 6% -31% -78% 0.185 $98,886,207
MM8 Medallion Metals. 6% -39% -59% 0.094 $22,601,987
ICL Iceni Gold 5% -20% -51% 0.064 $13,974,286
HMG Hamelingoldlimited 4% -17% -13% 0.12 $17,187,500
CLA Celsius Resource Ltd 4% 50% 26% 0.024 $55,276,292
HRZ Horizon 4% -21% -66% 0.048 $33,455,216
CST Castile Resources 4% 2% -45% 0.097 $22,738,828
GCY Gascoyne Res Ltd 4% -25% -49% 0.125 $100,856,507
MI6 Minerals260Limited 4% 47% 20% 0.5 $105,300,000
SVG Savannah Goldfields 3% -21% -25% 0.15 $28,398,024
GSM Golden State Mining 3% -23% -51% 0.033 $4,095,497
CBY Canterbury Resources 3% -15% -38% 0.035 $5,058,324
RXL Rox Resources 3% 103% 9% 0.355 $81,889,305
TG1 Techgen Metals Ltd 3% -12% -52% 0.072 $4,373,157
VMC Venus Metals Cor Ltd 3% 37% 9% 0.185 $33,527,306
AQI Alicanto Min Ltd 3% -12% -45% 0.038 $20,532,799
TSO Tesoro Gold Ltd 3% 8% -47% 0.039 $43,198,115
GIB Gibb River Diamonds 3% -33% -27% 0.04 $8,671,887
SNG Siren Gold 2% -40% -72% 0.11 $14,097,175
RSG Resolute Mining 2% 135% 69% 0.47 $989,988,055
EMR Emerald Res NL 2% 67% 64% 1.98 $1,166,889,642
KRM Kingsrose Mining Ltd 2% -12% -11% 0.057 $42,894,012
WGX Westgold Resources. 2% 77% 9% 1.55 $741,219,572
ERM Emmerson Resources 1% -7% -26% 0.07 $38,129,685
ANX Anax Metals Ltd 1% 36% -12% 0.072 $29,476,428
RND Rand Mining Ltd 1% -13% -21% 1.18 $67,113,634
HCH Hot Chili Ltd 1% 13% -23% 0.99 $118,250,754
NPM Newpeak Metals 0% 0% 0% 0.001 $9,145,132
FFX Firefinch Ltd 0% 0% -39% 0.2 $236,569,315
G88 Golden Mile Res Ltd 0% -7% -62% 0.019 $5,268,645
DCX Discovex Res Ltd 0% -17% -60% 0.0025 $8,256,420
AQX Alice Queen Ltd 0% -50% -82% 0.001 $2,530,288
YRL Yandal Resources 0% -23% -63% 0.075 $11,046,216
ARL Ardea Resources Ltd 0% -48% -67% 0.37 $62,598,512
PUA Peak Minerals Ltd 0% -33% -71% 0.004 $4,165,506
CWX Carawine Resources 0% 0% -33% 0.1 $19,681,747
LEX Lefroy Exploration 0% -15% -21% 0.22 $36,103,050
AM7 Arcadia Minerals 0% -12% -23% 0.18 $8,405,621
CYL Catalyst Metals 0% -35% -51% 0.765 $134,507,314
WRM White Rock Min Ltd 0% -5% -52% 0.063 $17,508,200
ASR Asra Minerals Ltd 0% -55% -76% 0.009 $13,937,627
SMI Santana Minerals Ltd 0% -5% -30% 0.62 $103,278,671
MHC Manhattan Corp Ltd 0% 0% -45% 0.0055 $16,149,533
TRY Troy Resources Ltd 0% 0% 0% 0.0295 $62,920,961
CGN Crater Gold Min Ltd 0% 0% 0% 0.014499 $17,965,037
GUL Gullewa Limited 0% -8% -26% 0.055 $10,767,521
G50 Gold50Limited 0% -40% -29% 0.15 $8,541,450
MGV Musgrave Minerals 0% 5% -23% 0.22 $135,977,828
RMX Red Mount Min Ltd 0% -20% -43% 0.004 $9,087,404
BYH Bryah Resources Ltd 0% -30% -59% 0.018 $4,781,309
TBA Tombola Gold Ltd 0% 0% -57% 0.026 $33,129,243
TBR Tribune Res Ltd 0% -15% -15% 3.42 $176,292,739
VRC Volt Resources Ltd 0% -33% -47% 0.01 $39,394,239
HRN Horizon Gold Ltd 0% 21% 4% 0.375 $46,943,115
MKR Manuka Resources. 0% -24% -72% 0.065 $32,993,074
EMU EMU NL 0% -59% -83% 0.002 $2,900,043
SFM Santa Fe Minerals 0% -25% -40% 0.06 $4,369,127
X64 Ten Sixty Four Ltd 0% -11% -26% 0.57 $130,184,182
KWR Kingwest Resources 0% -17% -82% 0.029 $8,170,078
RVR Red River Resources 0% 0% -62% 0.073 $37,847,908
TMZ Thomson Res Ltd 0% -74% -82% 0.005 $4,349,755
WMC Wiluna Mining Corp 0% 0% -58% 0.205 $74,238,031
GSN Great Southern 0% -31% -50% 0.02 $13,867,140
MDI Middle Island Res 0% 8% -70% 0.041 $5,019,147
BAT Battery Minerals Ltd 0% 0% -50% 0.004 $10,070,827
RDS Redstone Resources 0% 0% 14% 0.008 $6,631,028
NAG Nagambie Resources 0% -39% -23% 0.04 $24,432,505
BGL Bellevue Gold Ltd 0% 12% 40% 1.26 $1,429,500,257
GBR Greatbould Resources 0% -12% -17% 0.08 $40,340,560
AVW Avira Resources Ltd 0% 0% -33% 0.003 $6,401,370
PDI Predictive Disc Ltd 0% -11% -20% 0.16 $287,616,569
SBR Sabre Resources 0% -39% -43% 0.023 $6,704,182
SAU Southern Gold 0% -8% -44% 0.023 $6,906,561
XAM Xanadu Mines Ltd 0% 76% 82% 0.051 $81,891,210
MBK Metal Bank Ltd 0% -12% -50% 0.03 $8,847,537
TAR Taruga Minerals 0% -38% -35% 0.015 $10,590,402
NES Nelson Resources. 0% -29% -62% 0.005 $2,942,972
OAU Ora Gold Limited 0% -40% -60% 0.003 $11,810,775
DEX Duke Exploration 0% 0% -59% 0.053 $5,587,240
AZS Azure Minerals 0% 107% 69% 0.465 $181,459,773
USL Unico Silver Limited 0% -18% -18% 0.14 $41,132,223
ANL Amani Gold Ltd 0% 0% 0% 0.001 $25,143,441
MEK Meeka Metals Limited 0% -50% -39% 0.034 $35,231,095
CLZ Classic Min Ltd 0% -89% -99% 0.001 $5,761,929
ADT Adriatic Metals 0% 1% 36% 3.19 $720,121,523
MRZ Mont Royal Resources -1% -50% -76% 0.087 $5,957,992
DCN Dacian Gold Ltd -1% -17% -61% 0.083 $102,211,279
KCC Kincora Copper -1% -7% -26% 0.068 $8,109,698
TUL Tulla Resources -1% 1% -41% 0.34 $102,977,281
GRL Godolphin Resources -2% -27% -47% 0.061 $7,220,536
DRE Dreadnought Resources Ltd -2% -47% 37% 0.056 $179,697,324
DTM Dart Mining NL -2% -4% -21% 0.053 $9,131,223
AGG AngloGold Ashanti -2% 22% 38% 7.15 $645,864,219
KAU Kaiser Reef -2% 27% 0% 0.21 $31,016,513
SLR Silver Lake Resource -2% -11% -34% 1.05 $980,880,271
CMM Capricorn Metals -2% -11% 9% 4.09 $1,552,707,263
MXR Maximus Resources -3% -3% -44% 0.039 $11,166,952
STN Saturn Metals -3% 3% -52% 0.185 $28,180,356
CHN Chalice Mining Ltd -3% 13% 14% 7.13 $2,756,430,451
HMX Hammer Metals Ltd -3% -1% 6% 0.067 $55,034,292
BNR Bulletin Res Ltd -3% -29% -60% 0.066 $19,377,013
GWR GWR Group Ltd -3% 12% -45% 0.066 $20,879,083
MEU Marmota Limited -3% -31% -55% 0.033 $35,999,220
CEL Challenger Exp Ltd -3% -6% -35% 0.165 $182,596,981
FAL Falconmetalsltd -3% 9% 9% 0.305 $54,870,000
MRR Minrex Resources Ltd -3% -53% -71% 0.015 $16,273,013
NMR Native Mineral Res -3% -73% -82% 0.03 $3,724,301
BCN Beacon Minerals -3% 7% -9% 0.03 $112,703,045
NWM Norwest Minerals -3% -46% -37% 0.029 $7,421,136
MKG Mako Gold -3% -30% -67% 0.028 $14,644,775
BMR Ballymore Resources -4% -10% -36% 0.135 $13,484,444
BGD Bartongoldholdings -4% 35% 17% 0.27 $24,173,267
A8G Australasian Metals -4% -29% -64% 0.135 $7,036,267
S2R S2 Resources -4% -24% -32% 0.13 $53,311,898
IVR Investigator Res Ltd -4% 19% -7% 0.05 $70,421,331
CAZ Cazaly Resources -4% -26% -36% 0.025 $9,295,545
AAJ Aruma Resources Ltd -4% 36% 11% 0.072 $11,929,074
QML Qmines Limited -4% -27% -51% 0.12 $20,753,874
IGO IGO Limited -4% 6% 20% 14.25 $10,753,202,945
GOR Gold Road Res Ltd -4% 4% 29% 1.75 $1,881,845,327
CHZ Chesser Resources -4% 35% 21% 0.115 $70,632,162
MTC Metalstech Ltd -4% -36% -20% 0.335 $53,273,877
MZZ Matador Mining Ltd -4% -43% -67% 0.066 $21,119,662
LM8 Lunnonmetalslimited -4% 10% 12% 0.985 $108,801,300
FEG Far East Gold -5% -34% -10% 0.315 $45,914,463
RMS Ramelius Resources -5% 42% -4% 1.32 $1,323,668,012
SXG Southern Cross Gold -5% -37% 159% 0.505 $47,628,961
NXM Nexus Minerals Ltd -5% -60% -72% 0.08 $26,036,265
KAI Kairos Minerals Ltd -5% -13% -29% 0.02 $39,281,870
KNB Koonenberrygold -5% -35% -56% 0.04 $3,181,771
SVL Silver Mines Limited -5% -3% 5% 0.195 $266,823,107
ORN Orion Minerals Ltd -5% 19% -21% 0.019 $112,940,971
ALK Alkane Resources Ltd -5% 41% -31% 0.755 $452,088,407
KCN Kingsgate Consolid. -5% -29% -23% 1.22 $324,767,132
PRS Prospech Limited -5% 38% -11% 0.037 $8,512,832
SSR SSR Mining Inc. -5% -1% -22% 22.72 $413,978,346
AAR Astral Resources NL -5% 0% -15% 0.072 $53,901,896
GSR Greenstone Resources -5% -44% -68% 0.018 $24,265,368
VKA Viking Mines Ltd -6% -15% 6% 0.0085 $8,202,067
PUR Pursuit Minerals -6% 6% -15% 0.017 $45,617,625
NCM Newcrest Mining -6% 25% 2% 25.9 $23,321,537,491
RGL Riversgold -6% -47% -61% 0.016 $16,072,951
SPQ Superior Resources -6% -43% -6% 0.032 $57,841,494
PNM Pacific Nickel Mines -6% -5% 14% 0.079 $32,753,280
POL Polymetals Resources -6% 24% 135% 0.305 $28,668,894
GMR Golden Rim Resources -6% -3% -54% 0.03 $17,747,651
BC8 Black Cat Syndicate -6% 6% -11% 0.375 $101,294,492
CDT Castle Minerals -6% -29% -58% 0.015 $16,867,395
RRL Regis Resources -6% -5% -6% 1.95 $1,468,525,424
RED Red 5 Limited -6% -29% -65% 0.145 $501,625,090
CDR Codrus Minerals Ltd -6% 12% 61% 0.145 $6,064,500
GMD Genesis Minerals -6% -8% -18% 1.155 $542,199,619
DEG De Grey Mining -6% 1% 17% 1.295 $2,013,905,320
NST Northern Star -7% 15% 38% 12.55 $14,504,080,813
GAL Galileo Mining Ltd -7% -24% -29% 0.67 $133,396,826
ADV Ardiden Ltd -7% -7% -43% 0.0065 $16,130,012
AGC AGC Ltd -7% -13% -42% 0.052 $5,700,000
HAV Havilah Resources -7% -21% -7% 0.26 $82,326,195
FML Focus Minerals Ltd -7% -25% 3% 0.19 $55,878,936
MLS Metals Australia -8% -17% -60% 0.037 $21,853,303
ASO Aston Minerals Ltd -8% 5% -40% 0.084 $92,522,668
HXG Hexagon Energy -8% -29% -57% 0.012 $6,154,991
ARN Aldoro Resources -8% -25% -43% 0.12 $16,130,849
PNT Panthermetalsltd -8% -62% -67% 0.072 $4,525,100
AUC Ausgold Limited -8% 0% -15% 0.047 $103,326,354
SFR Sandfire Resources -8% 1% 2% 5.49 $2,508,336,685
SRN Surefire Rescs NL -8% 46% -54% 0.0175 $26,883,179
BRB Breaker Res NL -8% 44% 92% 0.46 $159,790,515
EVN Evolution Mining Ltd -8% 16% -9% 3.47 $6,404,206,953
AMI Aurelia Metals Ltd -8% -12% -70% 0.11 $129,930,908
TIE Tietto Minerals -8% -30% 10% 0.495 $543,763,745
ARV Artemis Resources -8% -56% -72% 0.011 $17,269,102
TTM Titan Minerals -9% -22% -30% 0.052 $73,386,206
PGO Pacgold -9% -14% -49% 0.31 $17,587,781
GML Gateway Mining -9% -32% -63% 0.041 $10,919,675
SMS Starmineralslimited -9% -31% -76% 0.05 $1,507,090
CTO Citigold Corp Ltd -9% -17% -29% 0.005 $14,368,295
EM2 Eagle Mountain -9% -41% -73% 0.1 $30,496,686
M24 Mamba Exploration -9% -31% -23% 0.1 $6,708,167
WAF West African Res Ltd -9% -28% -35% 0.845 $875,158,974
PNR Pantoro Limited -9% -28% -75% 0.069 $196,873,337
SPD Southernpalladium -9% -46% 0% 0.435 $19,385,247
AME Alto Metals Limited -10% -18% -32% 0.055 $35,543,298
ADG Adelong Gold Limited -10% 29% -74% 0.009 $4,804,401
SBM St Barbara Limited -10% -30% -57% 0.54 $436,849,780
OZM Ozaurum Resources -10% -32% -78% 0.045 $5,588,000
PRU Perseus Mining Ltd -10% -13% -6% 1.835 $2,558,135,410
KZR Kalamazoo Resources -11% -40% -64% 0.125 $19,812,826
GBZ GBM Rsources Ltd -11% -44% -74% 0.024 $14,783,062
ALY Alchemy Resource Ltd -11% -30% -36% 0.016 $20,027,296
MAT Matsa Resources -12% 3% -30% 0.038 $15,244,273
BMO Bastion Minerals -12% -15% -79% 0.029 $5,260,582
IDA Indiana Resources -12% -22% -23% 0.043 $21,766,807
GTR Gti Energy Ltd -13% -35% -58% 0.007 $13,634,279
KIN KIN Min NL -13% -48% -58% 0.034 $42,413,420
NML Navarre Minerals Ltd -13% -51% -75% 0.02 $30,058,583
PGD Peregrine Gold -13% -22% -39% 0.3 $17,391,809
NVA Nova Minerals Ltd -13% -57% -55% 0.295 $62,212,484
AUT Auteco Minerals -14% -39% -40% 0.031 $74,010,762
GED Golden Deeps -14% -33% -65% 0.006 $6,931,360
AL8 Alderan Resource Ltd -14% -14% -67% 0.006 $3,700,168
PXX Polarx Limited -14% -40% -25% 0.012 $17,600,832
ICG Inca Minerals Ltd -15% 0% -71% 0.023 $11,120,833
IPT Impact Minerals -15% 57% 0% 0.011 $31,291,743
LRL Labyrinth Resources -15% -35% -63% 0.011 $10,554,361
MOH Moho Resources -16% -24% -53% 0.016 $3,530,257
KAL Kalgoorliegoldmining -16% -61% -72% 0.032 $2,713,236
TLM Talisman Mining -16% 29% 6% 0.18 $32,854,412
PNX PNX Metals Limited -17% -41% -47% 0.0025 $16,141,874
MTH Mithril Resources -17% -29% -58% 0.0025 $6,737,609
CPM Coopermetalslimited -17% 11% -46% 0.26 $10,522,740
A1G African Gold Ltd. -18% -28% -48% 0.06 $11,005,229
SKY SKY Metals Ltd -18% -6% -45% 0.045 $17,332,040
ZNC Zenith Minerals Ltd -18% -49% -64% 0.135 $47,571,419
WA8 Warriedarresourltd -19% -35% -8% 0.11 $47,416,469
BEZ Besragoldinc -19% 352% 187% 0.235 $76,080,306
CY5 Cygnus Metals Ltd -20% -47% 33% 0.2 $46,040,253
WWI West Wits Mining Ltd -20% -25% -52% 0.012 $29,159,224
OBM Ora Banda Mining Ltd -22% 49% 247% 0.125 $209,448,229
BBX BBX Minerals Ltd -22% -43% -43% 0.06 $31,514,428
PRX Prodigy Gold NL -22% -42% -59% 0.007 $12,257,755
PKO Peako Limited -22% -52% -61% 0.007 $4,236,583
FG1 Flynngold -23% -39% -47% 0.061 $6,275,286
WCN White Cliff Min Ltd -25% -57% -70% 0.006 $6,233,854
REZ Resourc & En Grp Ltd -27% -31% -70% 0.011 $4,998,058

 

Top ASX Stories This Week

A mining lease has been granted over First Au’s (ASX:FAU) Gimlet gold project, a stone’s throw from a bunch of toll treating options near Kalgoorlie.

The project contains an inferred resource of 120,000oz @ 3.19g/t gold.

Aspiring silver-base metals miner Polymetal Resources (ASX:POL) increased near surface resources at the mothballed Endeavour mine to 8.9Moz silver, plus lead and zinc credits.

That resource from the Upper Main Lodes (less than 180m depth,) comprises 818,000t at 7.1% zinc, 5.1% lead and 338g/t silver.

Desoto Resources (ASX:DES) says the FSZ gold target is 20km long and comparable in scale to the nearby 17Moz Pine Creek Shear Zone, DES says.

This late 2022 listing is chaired by exploration veteran Paul Roberts, the man who turned $3m capped gold minnow Predictive Discovery (ASX:PDI) into a $300m, 4.2Moz project developer.

And Auric Mining (ASX:AWJ) says gold production is “imminent” from the 48,000oz Jeffrey’s Find gold mine in WA, a partnership between AWJ and Kalgoorlie mining contractor BML ventures.

Commencing late-May, between 100,000-150,000 tonnes of ore will be hauled to the Greenfields Mill at Coolgardie where it will be toll treated.

First gold pour is expected early July.

 

FAU, POL. DES, AWJ share price charts


 

The post Gold Digger: This Stag Party could get wild, especially for the gold price appeared first on Stockhead.






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VANCOUVER, BC, May 30, 2023

VANCOUVER, BC, May 30, 2023 /CNW/ – Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OT…

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News Releases

Kainantu Resources Filing of Q1 2023 Results

Kainantu Resources Filing of Q1 2023 Results
Canada NewsWire
VANCOUVER, BC, May 30, 2023

VANCOUVER, BC, May 30, 2023 /CNW/ – Kainantu Resources Ltd. (TSXV: KRL) (FSE: 6J0) (“KRL” or the “Company”), the Asia-Pacific focused gold mining company, is p…

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Financing News

Cerro de Pasco Resources Reports Q1 2023 Results

Cerro de Pasco Resources Reports Q1 2023 Results
Canada NewsWire
MONTRÉAL, May 30, 2023

MONTRÉAL, May 30, 2023 /CNW/ – Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (Frankfurt: N8HP) (“CDPR,” or the “Company”) is pleased to announce sele…

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