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7 Gold Stocks to Consider With Rising Inflation and Uncertainty

Given the incredible advancements of modern technologies, it’s no surprise that many analysts and investors regard precious metals as barbaric relics…

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This article was originally published by Investor Place

Given the incredible advancements of modern technologies, it’s no surprise that many analysts and investors regard precious metals as barbaric relics that serve little relevance. On some levels, I can appreciate their point. Buying gold stocks might seem like going for a bunt in a baseball game. Let’s face it — people are paying money to watch massive dingers, not dinky little dribblers in the infield.

At the same time, gold stocks can perform very well when their time has come. But the lingering argument is always, is that time now? Obviously, if we had access to crystal balls, we wouldn’t have such debates in the first place. That said, based on the recent bullishness of the underlying spot market, it’s worth investors performing some extra research about precious-metals-related opportunities.

First, the AP recently reported on U.S. consumer confidence dropping in August, mainly due to the lingering novel coronavirus, along with concerns about rising inflation. “The Conference Board reported Tuesday that its consumer confidence index dropped to a reading of 113.8 in August, down from a revised 125.1 in July. It was the lowest level for the index since a reading of 95.2 in February.” Obviously, this fear-trade dynamic bodes well for gold stocks.

Second, employment trends aren’t as robust as many would like to see. While the employment level has been consistently improving, the rate has slowed down over the last several months. Between October 2020 and August 2021, job figures increased by 2.3%. But in the same period two years ago, the improvement was 1%. In other words, we should see significant benefits due to the law of small numbers but we’re not, cynically bolstering gold stocks.

Third, we don’t really know what to make of the present situation. Strangely, the national GDP is no worse for wear following the Covid-19 pandemic, yet August’s employment level is still 3.5% below pre-pandemic levels. That suggests a deflationary trend — higher productivity over a smaller work base.

While deflation isn’t great for precious metal valuations, perhaps the brewing fear trade is enough to lift these gold stocks.

  • Newmont (NYSE:NEM)
  • Barrick Gold (NYSE:GOLD)
  • AngloGold Ashanti (NYSE:AU)
  • Sibanye Stillwater (NYSE:SBSW)
  • Kinross Gold (NYSE:KGC)
  • Wheaton Precious Metals (NYSE:WPM)
  • Royal Gold (NASDAQ:RGLD)

Listening to reputable metals experts like David Morgan, very few in the sector will advocate irresponsible overexposure to gold stocks. This is a sector where you should cover your core needs first, then consider wagering with speculation funds.

 

Gold Stocks: Newmont (NEM)

Newmont (NEM) logo on a mobile phone screenSource: Piotr Swat/Shutterstock

Though gold stocks represent a viable place to park your money during periods of fear or uncertainty, the wider investment community sometimes treats the sector as a one-dimensional arena. Because of this, if you’re serious about precious metals, then you ought to consider a healthy does of the major mining players. For that, there’s no better name than Newmont.

As of this writing, Newmont is the biggest among gold stocks by market capitalization, featuring a valuation of just under $46 billion. As well, according to NS Energy, Colorado-based Newmont is the world’s biggest gold miner by production, generating “just over 5.8 million ounces of the metal in 2020.”

Notably, the company has “operations across Africa, Australia, North America and South America, and boasts mine reserves totalling 94.2 million attributable ounces of gold. It also mines copper, silver, zinc and lead.”

Despite the troubles, 2020 was a banner year for Newmont, which posted revenue of $11.5 billion, up 18% from the prior year. Better yet, momentum has carried into this year, with its second-quarter sales of $3.07 billion up nearly 30% year-over-year.

 

Barrick Gold (GOLD)

How to Play Barrick Gold Stock Ahead of Today's EarningsSource: Piotr Swat / Shutterstock.com

Coming in second place to Newmont is Barrick Gold, one of the vanguards of gold stocks. At time of writing, the company features a market cap of $35.5 billion. Last year, Barrick produced “just under 4.8 million ounces of gold,” which by itself is a sizable haul — though this metric slipped 13% compared to the prior year.

Against other major gold stocks, Barrick has been conspicuously more volatile. For instance, GOLD stock was down almost 18% on a year-to-date basis leading up to the Labor Day weekend. Over the same period, NEM was only off by 5.5%. As well, since early June of 2019, GOLD appears to be forming a long-term bearish head-and-shoulders pattern, which isn’t exactly encouraging.

Part of the laggardness could be due to less-than-impressive financial numbers relative to peers. While Barrick posted a roughly 30% YOY revenue lift in 2020, in Q2 2021, the company’s sales was $2.9 billion, down over 5% from the year-ago quarter.

Nevertheless, investors with a long horizon for gold stocks should keep an eye on Barrick. If the ongoing pandemic and its downstream impacts are acutely negative, it might be time to pick up some shares.

 

Gold Stocks: AngloGold Ashanti (AU)

Closeup of a large gold nugget. stocks under $10Source: Shutterstock

Under normal circumstances, AngloGold Ashanti — which features the awesome ticker symbol AU — makes noise because it’s consistently one of the top gold stocks to buy. As NS Energy points out, “South Africa-based AngloGold Ashanti ranks third among the world’s top gold mining companies, and is the biggest producer in Africa.”

Last year, AngloGold produced a tick over three million ounces of gold. Compared to other gold stocks, that’s a very healthy number. Yet over the trailing-year period, AU stock is down 43%.

What gives?

Primarily, the company isn’t living up to its prior standards. Compared to 2019’s tally, 2020’s production haul was 7% in the red. Moreover, AngloGold continues to suffer from incidents that have nothing directly to do with demand for the yellow metal.

For example, in August, Reuters reported that AU shares slumped badly after the issuing company “trimmed its 2021 production estimate and posted a 10% drop in headline first-half earnings due to the impact of the COVID-19 pandemic and increased bullion mining costs.”

Though badly beaten up, it’s possible that AU could make a comeback, especially as the coronavirus represents a thorn on the side of multiple countries.

 

Sibanye Stillwater (SBSW)

A gold bar along with some coins made of precious metals. gold stocksSource: allstars / Shutterstock.com

Though it’s one of the more speculative names among gold stocks, Sibanye Stillwater offers serious firepower for investors that can handle the occasional heat.

In many ways, Sibanye is a conundrum. On one hand, it’s one of the most powerful mining firms, not only mining gold but also claiming the title of the largest primary producer of platinum and second-largest palladium producer.

But on the other hand, labor issues and mine closures — a not-infrequent issue in Sibanye’s home market of South Africa — can wreak havoc on SBSW stock. That brings up a key frustration about gold stocks in general. Sometimes, you can have the right thesis regarding the underlying commodity only to be completely blindsided by an administrative issue.

Still, what I do like about Sibanye Stillwater is its broad exposure to critical metals. Yes, the topic at hand is gold. However, palladium could be a critically important metal, not only for its use in electronics but also because it’s a component found in hybrid vehicles.

Sure, electric vehicles will eventually take over but as Bloomberg points out, that transition will take time. In the interim, you have a significant producer of the metal in Sibanye.

 

Gold Stocks: Kinross Gold (KGC)

Cellphone with business logo of Canadian mining company Kinross Gold Corp. on screen in front of webpage.Source: T. Schneider / Shutterstock.com

One of the more psychologically attractive gold stocks thank to its present single-digit price tag, Kinross Gold also offers serious fundamental reasons to be bullish on its shares. Headquartered in Toronto, Canada, Kinross features an expansive portfolio, with mines in the U.S., Brazil, Chile, Ghana, Mauritania and Russia.

In 2020, data from NS Energy revealed that the company “produced just under 2.4 million ounces of gold.” While a healthy figure by itself, this output slipped 6% against the prior year’s haul. Nevertheless, for those who are forward-looking optimists and are willing to wager on geopolitical dynamics, KGC could be quite interesting in the years ahead.

While the world has looked on with dismay regarding the chaotic pullout of U.S. personnel from Afghanistan, a thorny issue stands: what will happen to the country’s vast natural resources? As a Reuters report stated, “Returning to power in Afghanistan after a 20-year absence, the Taliban have regained control of natural resources that a former mines minister of the country once said could be worth up to $3 trillion.”

It’s not a guaranteed play, but I don’t think investors can ignore the prospects of a supply shortage combined with increased demand. Certainly, this is one to keep an eye on.

 

Wheaton Precious Metals (WPM)

gold stored in a vault to represent gold stocksSource: Shutterstock

No matter how careful you are, gold stocks will always carry volatility risks due to their unpredictable nature. For now, the lack of consumer confidence and rising inflation concerns weigh heavily on business-centric investments but cynically support sectors tied to precious metals.

But what if those headwinds fade? Then, it’s not unreasonable to assume that many miners — particularly the speculative variety — will crumble.

To help ease the choppiness, investors should consider streaming specialist Wheaton Precious Metals. Streaming refers to a business model where a company agrees to purchase all or a portion of a miner’s metals produced at an agreed-upon price.

To be fair, streaming companies also tend to mitigate their upside due to the prior price agreement.

However — and this is key — investments like WPM tend to be more stable than other gold stocks since the model factors in price predictability. Sure enough, Wheaton put up some strong fiscal performances, with revenue of $1.1 billion in 2020 up 27% from the prior year. Additionally, WPM posted sales of $330 million in Q2 2021, up 33% YOY.

 

Gold Stocks: Royal Gold (RGLD)

gold bars representing gold stocksSource: Shutterstock

If you want to invest in gold stocks that have a similar pricing agreement structure to Wheaton Precious Metals, you should check out Royal Gold. As both a streaming and royalty firm, Royal Gold provides a level of predictability that you often don’t get in this market segment.

We’ve already discussed what streaming is. Royalties follow a similar path, except that in their case, the company receives a fixed percentage of the miner’s revenue generation as opposed to the actual commodities. As with Wheaton, Royal Gold’s business model will mitigate upside since the price is already anchored in an agreed-upon contract.

By the same token, Royal has superior downside protection relative to pure mining-centric gold stocks. Therefore, it’s not entirely surprising that the company has also posted strong fiscal performances. In 2020, RGLD generated $615.9 million in revenue, up over 23% against 2019’s result. As well, momentum is very strong this year, with Royal’s Q2 sales of $168 million up 40% from the year-ago quarter.

If you want an eclectic mixture of gold stocks in your portfolio, RLGD is definitely worth consideration.

On the date of publication, Josh Enomoto held a LONG position in gold bullion. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.

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Futures On Edge As Quad-Watching Set To Wipe Out A Third Of Market Gamma

Futures On Edge As Quad-Watching Set To Wipe Out A Third Of Market Gamma

Quad-witching opex Friday has arrived, bringing with it the usual…

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Futures On Edge As Quad-Watching Set To Wipe Out A Third Of Market Gamma

Quad-witching opex Friday has arrived, bringing with it the usual drama of gigantic gamma expiration, including $1.5trillion of SPX index,
$310bln of options on ES futs, $220bln of SPY options, $610bln of other index...

... a surge in market volumes, spike in volatility and now expected rebound in risk assetsWith over a third of market gamma set to expire today - specifically some 35% of SPX, 50% SPY, and 35% of QQQ gamma according to SpotGamma - brace for a bump ride as the absolutely gargantuan S&P pin at 4,500 is about to get much smaller, drastically reducing the market's downside buffer.

What does this mean for markets so far? Well, overnight, stock-index futures dropped again, while European stocks erased gains as investors not only fretted about today's quad-witch volatility, but as steady Treasury yields after strong economic data this week pointed toward more movement out of heavyweight technology stocks while next week's FOMC meeting raised concerns about the coming taper and reduction in stimulus. Quantifying that, S&P 500 E-minis were down 11 points, or 0.25%, at 07:30 am ET; Dow E-minis were down 78 points, or 0.22%, while Nasdaq 100 E-minis were down 40 points, or 0.25%. 10-year TSY yields were slightly higher at 1.3429%, while the dollar was unchanged and cryptos dropped.

In overnight trading, FAANG stocks fell slightly in premarket trading. Losses in major tech stocks had pulled the S&P 500 lower on Thursday, after a jump in bond yields saw investors pivot into sectors most likely to benefit from an economic recovery this year. The retail sales reading came on the heels of data showing steady factory activity and a cooling in inflation, which suggested the U.S. economic recovery was resilient despite a recent rise in cases of the Delta COVID-19 variant. Here are some of the biggest movers today:

  • IronNet (IRNT US) drops 9.4% in U.S. premarket trading, paring some of its 114% rally over the past three sessions driven by retail traders; Other meme stock moves: Offerpad (OPAD US) also sinks after doubling this week, while SmileDirectClub (SDC US) rose 7.5%
  • AbCellera Biologics (ABCL US) soars 16% in premarket trading after it confirmed that the U.S. FDA expanded its emergency authorization to use a Lilly-partnered Covid-19 antibody cocktail for post-exposure prevention of infection or symptomatic disease
  • U.S. Steel (X US) dips 1.7% in premarket trading after reporting results on Thursday evening; European steel stocks traded a tad weaker alongside mining stocks, which were hurt sinking iron prices
  • Las Vegas Sands (LVS US) and Wynn Resorts (WYNN US), battered by a shift in policy in Macau, in focus after Jefferies puts out a bearish note. It cut Las Vegas Sands to hold and slashed Wynn’s PT to Street low.
  • Take-Two Interactive Software (TTWO US) slides 1.7% in premarket after it got downgraded to market perform from outperform at BMO on reduced confidence in previously Street- high earnings estimates
  • Tuesday Morning (TUEM US) rises 3.6% in premarket trading after CEO discloses share purchases on Thursday
  • Diamondback Energy (FANG US) climbs 3.7% in premarket trading after it announced a share buyback plan late on Friday
  • Shares gain about 1.8% postmarket
  • Usana Health (USNA US) fell 2.8% in postmarket trading Thursday after cutting its net sales forecast for the full year

Also overnight, China boosted its injection of short-term cash into the financial system in a sign the authorities are seeking to soothe market nerves frayed by concern over quarter-end funding needs and China Evergrande Group’s debt crisis. Still, price swings are almost certain to surge during today's quadruple-witching session, in which a significant number of futures contracts and options expire at the same time, according to Pierre Veyret, technical analyst at ActivTrades. “Most market operators are looking towards the next Fed policy meeting due next week, which should decrease market directionality and increase volatility further,” Veyret said.

Focus now turns to a meeting of the Federal Reserve next week, with investors debating if a swathe of strong economic data this week could spur the bank into shortening its timeline for reducing monetary stimulus.

European shares faded early gains and the Stoxx 600 index traded down -0.1%, erasing a gain of as much as 0.8% as a rally in travel and retail shares was offset by a retreat for basic-resources companies after comments by a European Central Bank council member stoked inflation concerns. ECB Governing Council member Martins Kazaks said the euro area’s inflation outlook may turn out higher than currently anticipated if the coronavirus doesn’t inflict any further shocks. The region’s stabilizing economic recovery, persistent supply bottlenecks and rising expectations all point to possible faster-than-forecast price gains, he said. Maybe he finally got his electric bill?

Commerzbank gained as much as 4.9% after a report that Cerberus Capital would consider raising its stake if the German government was ready to sell its shares. Azelis SA, a distributor of food additives and specialty chemicals, surged in its Brussels trading debut after the biggest Belgian initial public offering since 2007. Anglo American fell 4.2% in London after the miner was downgraded at Morgan Stanley and UBS. European steel stocks traded a tad weaker alongside mining stocks, which were hurt sinking iron prices.

“Investors just should be prepared for the fact that returns are much more likely to be muted over the next five years than what we’ve really benefited and enjoyed over the last five,” Jim McDonald, Northern Trust Bank chief investment strategist, said on Bloomberg Television. That view incorporates the prospect of lower valuations for Chinese firms facing more government involvement, he said.

Earlier in the session, Asian stocks were mixed amid the debt crisis at China Evergrande Group and a short-term cash injection by the central bank to help soothe nerves. Stocks in China and Hong Kong bounced back following four straight days of losses. The MSCI Asia Pacific Index climbed as much as 0.4%. Technology was the best-performing sector on the gauge, led by Tencent and Alibaba Group. Stocks also gained in Japan, with the Topix halting a two-day decline. Friday’s advance helped pare the Asian benchmark’s losses this week to 1.6%. The gauge is still on course to snap a three-week rally, largely due to China-related concerns. Investors remain worried about the regulatory crackdown after Beijing targeted Macau’s casinos this week, with sentiment also hurt by weak economic data and the debt crisis at China Evergrande Group. Focus is also turning to the Federal Reserve’s policy meeting next week, with traders hoping to get more clues about the timeline for paring bond purchases.

You now you have a number of serious risks in China, especially the one around systemic risk with Evergrande,” Frank Benzimra, head of Asia equity strategy at SocGen, said on Bloomberg TV. “We see more upside on the onshore than offshore part of the market. It’s a little bit early for bottom-fishing in the internet space.”

Japanese stocks traded higher in the afternoon session, overcoming early fluctuations, with electronics makers and telecommunications providers driving gains in the Topix. The Topix rose 0.5% to 2,100.17 at the 3 p.m. Tokyo close, while the Nikkei advanced 0.6% to 30,500.05. SoftBank Group contributed the most to the Topix’s gain, increasing 1.8%. Out of 2,184 shares in the index, 1,422 rose and 644 fell, while 118 were unchanged.  More than 4 trillion yen worth of shares traded hands on the first section of the Tokyo Stock Exchange, the most since May.  Running shoes and sportswear maker Asics dropped 3.2% after local broadcaster NHK reported the Tokyo Marathon will be canceled this year due to Tokyo still being under a state of emergency. Asics is one of the sponsors for the race

In rates, yields on the benchmark 10-year notes held around levels touched yesterday, after an unexpectedly strong retail sales reading. Treasuries were steady with the curve slightly steeper, pivoting around an unchanged 7-year sector. Treasury yields remain within a basis point of Thursday’s close, trading slightly richer across long-end of the curve, marginally flattening 2s10s, 5s30s spreads; the 10-year yield at 1.3429% was near top of Thursday’s range, outperforming bunds and gilts by 2.5bp and 1bp respectively and little changed on the week. Bunds underperform over early European session, with futures contract gaining momentum after breaching Thursday’s low. 

In FX, the Bloomberg Dollar Spot Index was little changed even as the greenback was weaker against most of its Group-of-10 peers; commodity currencies led advances after rebounding in the Asian session. The pound was steady against the dollar, but underperformed most of its Group-of-10 peers after U.K. retail sales fell unexpectedly for a fourth month in August, the worst stretch of declines in at least 25 years. Attention turns to the Bank of England’s rate decision next week. Australia’s dollar rose against all its Group-of-10 peers as an absence of further negative news helped restore some confidence in the global recovery. New Zealand’s dollar was sold after the nation extended the suspension of a travel bubble with Australia for eight weeks, a trader said.

In commodities, oil slipped, while gold advanced. An index of commodity prices dipped, but remains in sight of a record hit in 2011, underscoring the inflation concerns rippling across the world economy.

Looking at the day ahead now, the only thing on the US calendar is the University of Michigan’s preliminary consumer sentiment index for September. Otherwise, central bank speakers include the ECB’s Makhlouf.

Market Snapshot

  • S&P 500 futures little changed at 4,476.00
  • STOXX Europe 600 up 0.56% to 468.57
  • MXAP up 0.3% to 203.41
  • MXAPJ up 0.3% to 650.76
  • Nikkei up 0.6% to 30,500.05
  • Topix up 0.5% to 2,100.17
  • Hang Seng Index up 1.0% to 24,920.76
  • Shanghai Composite up 0.2% to 3,613.97
  • Sensex up 0.2% to 59,256.49
  • Australia S&P/ASX 200 down 0.8% to 7,403.72
  • Kospi up 0.3% to 3,140.51
  • Brent Futures down 0.66% to $75.17/bbl
  • Gold spot up 0.5% to $1,762.19
  • U.S. Dollar Index down 0.13% to 92.815
  • German 10Y yield rose 2bps to -0.281%
  • Euro little changed at $1.1782

Top Overnight News from Bloomberg

  • British consumers expect inflation will remain above the Bank of England’s target for at least the next five years, a survey showed, in an indication that attitudes about rising prices are becoming entrenched
  • The Federal Reserve will probably hint at its meeting next week that it is moving toward scaling back monthly asset purchases and make a formal announcement in November, according a Bloomberg survey of economists
  • China boosted its injection of short-term cash into the financial system in a sign the authorities are seeking to soothe market nerves frayed by concern over quarter-end funding needs and China Evergrande Group’s debt crisis
  • The European Central Bank dismissed a Financial Times report that chief economist Philip Lane told analysts privately the institution expects to reach its 2% inflation target by 2025
  • “Market interest rates have relaxed in cumulative terms since our monetary policy meeting in June,” ECB Governing Council member Pablo Hernandez de Cos says. “However, this relaxation has been reversed in recent weeks, serving as a reminder that financing conditions remain highly volatile in the context of uncertainty and highly dependent on monetary policy support”
  • U.K. retail sales fell unexpectedly for a fourth month in August, the longest stretch of declines in at least 25 years, raising concerns about the economic recovery as a resurgence of coronavirus cases and supply shortages take a toll

A more detailed look at global markets courtesy of Newsquawk

Asian equity markets traded mixed with the region tentative ahead of several APAC market closures next week, albeit with the mood at a slight improvement from the negative bias stateside, where strong data supported taper calls approaching quad witching hour. The ASX 200 (-0.8%) underperformed with the index pressured by hefty losses in the mining-related sectors after recent declines in underlying commodity prices due to a firmer greenback and Chinese efforts to contain prices through its state reserves. The mood in Australia was also dampened by fears of a backlash from China to the recent AUKUS security pact and with M&A discussions between private equity and Iress failing to reach an agreement which resulted in double-digit percentage losses for shares in the latter. The Nikkei 225 (+0.6%) was positive and tested the 30,500 level with the index getting an uplift from a mostly weaker JPY, but with gains capped by the ongoing COVID outbreak and with the Cabinet Office lowering its overall economic assessment for the first time in four months. The Hang Seng (+1.0%) and the Shanghai Comp. (+0.2%) lacked firm commitment ahead of a four-day weekend in the mainland due to the Mid-Autumn Festival and with some brief support after the PBoC’s liquidity efforts involving a total CNY 100bln injection evenly split between 7-day and 14-day reverse repos. In addition, plenty of focus remained on China Evergrande with its shares severely hit again on default fears and reports that suggested the unlikelihood of a government bailout, although there was some reprieve to affiliate Evergrande Property Services as its shares rose around 8% which seems inconsequential compared to its near-50% decline YTD. Finally, 10yr JGBs were subdued following the spillover selling from USTs and gains in Japanese stocks, with demand also hampered by the lack of BoJ purchases in the market today with the central bank instead offering to buy JPY 75bln in 3yr-5yr corporate bonds from next Friday.

Top Asian News

  • HKEX Proposes SPAC Listing Fundraising to Be at Least HK$1b
  • China Mogul Loses $27 Billion in World’s Biggest Wealth Drop
  • Australia to Trial Home Quarantine for Vaccinated Arrivals
  • China Property, Tech Firms Stage Rebound on Bargain Hunting

Bourses in Europe has conformed to a mixed picture (Euro Stoxx 50 -0.3%; Stoxx 600 -0.3%) after failing to hold into the +1% gains seen at the open for the bellwether index, whilst Euro futures now mostly lower on Quad Witching Day. The FTSE 100 Dec contract fell under 7,000 as the Sep contract expired. US equity futures meanwhile have seen somewhat of a contained divergence before adopting a downside bias, with the RTY narrowly lagging. Back to Europe, the FTSE 100 (-0.1%) is among the straddlers in the region as the Basic Resource sector is once again under pressure – with the biggest losers in the index currently Anglo American (-3.5), Rio Tinto (-2.2%) and BHP (-1.7%) – with the former seeing a downgrade at Morgan Stanley, whilst Glencore (+0.1%) bucks the trend amid an upgrade at the bank. Euro-bourses see broad-based gains. Delving deeper into sectors, Autos and Parts are also on the backfoot amid the ongoing chip shortage. On the flip side, Travel & Leisure leads the gains with reports stating the UK travel red list could be more than halved from its current 62 for the double-jabbed, according to The Times. Turkey is tipped to be among those removed from the list. The UK Transport Minister is today expected to announce the scrapping of the amber list, thus there will only be red and green lists. In terms of individual movers, Commerzbank (+3.3%) holds onto gains after Handelsblatt reported that Cerberus is reportedly considering increasing its stake in the Co. from the current 5% mark via taking on the German state's 15.6% interest in Commerzbank if the German state wishes to sell its holding.

Top European News

  • ECB Says FT Report on Inflation Target Outlook Not Accurate
  • U.K. Retail Sales Fall in Worst Stretch for Shops Since 1996
  • Europe’s Gas Resumes Gains on Concerns Over LNG Plants, Supply
  • How the Pandemic Left British Households $1.2 Trillion Richer

In FX, the Dollar has lost some of its retail sales vigour and Philly Fed fizz amidst signs of stabilisation in US Treasuries, both outright and from a yield curve perspective, while technical traders may also be a bit discouraged by the fact that the DXY did not quite have the legs to at least touch the psychological 93.000 mark when upside momentum was building yesterday. Hence, the index has drifted back down into a comparatively tight 92.639-760 range vs 92.965-467 extremes on Thursday and the Buck has unwound gains vs most major peers bar the Yen that is retreating closer to 110.00 again. Ahead, eyes on preliminary Michigan sentiment to see if the survey echoes upbeat regional vibes for September that kicked off with the Empire State, but also monitoring stocks over Quad Witching.

  • AUD/CAD/NZD - No surprise to see the Aussie strike while the Greenback is waning after its sharp decline on multiple factors this week (dovish RBA rate guidance, ongoing slump in iron ore, poor jobs data and heightened tensions with China), as Aud/Usd reclaims 0.7300+ status and the Aud/Nzd cross also regains some composure on the 1.0300 handle as the Kiwi lags below 0.7100 against its US counterpart in wake of a marked deterioration in NZ manufacturing PMI into contractionary territory. However, the Aussie may find further upside progress capped by decent option expiry interest at the 0.7325 strike (1 bn) or even get drawn back to similar size at the round number (1.1 bn to be precise), and the same goes for the Loonie given expiries between 1.2635-50 (1 bn) and at 1.2700 (1 bn), not to mention the loss of bullish impetus from WTI crude that is consolidating around Usd 72/brl. Nevertheless, Usd/Cad has retreated a bit further from w-t-d peaks to pivot 1.2650 between 1.2708-1.2600 parameters.
  • EUR/CHF/GBP - All marginally firmer vs the Dollar, but unconvincingly and still on course to end the week with net losses as the Euro meanders below 1.1800 and above 1.1750 where hefty option expiries reside (1.2 bn and 1.8 bn trailing down to 1.1745), the Franc straddles 0.9270 and Sterling rotates either side of 1.3800 following disappointing UK retail sales data and a pick-up in inflation expectations via the latest BoE/Kantar Attitudes Survey. Note also, Cable appears contained to an extent by technical levels in the form of the 50 and 21 DMAs that are situated at 1.3803 and 1.3780 respectively today, while Eur/Gbp is flirting with its 50 DMA at 0.8543 after rejecting or respecting 0.8500 on Thursday.
  • JPY - As noted at the outset, the Yen is underperforming having narrowly failed to breach 109.00 and Usd/Jpy now looks intent on testing resistance/offers at the big figure above pending any further repatriation for month, Q3 and Japanese half FY end or another change in chart and fundamental dynamics.
  • SCANDI/EM - The Nok does not look too fazed by the pull-back in Brent as it eyes a Norges Bank hike, but the Rub, Mxn and Zar are on a weaker footing, while the Try has fallen further in advance of September’s CBRT policy meeting as year end inflation projections rise again. Conversely, the Cnh and Cny are on an even keel into a long Chinese holiday weekend with 7 and 14 day liquidity provided by the PBoC.

In commodities, WTI and Brent front month futures have been trimming the gains seen since yesterday’s European close, with the former now threatening a breach of USD 72/bbl to the downside (vs high 72.72/bbl) and the latter just north of USD 75/bbl (vs high 72.78/bbl). News flow has been light, but prices saw crude prices saw leg lower heading into the European cash open, seemingly in tandem with NatGas prices as Europe reacted to Biden’s commentary suggesting that there is evidence that gas prices should be falling and his admin is investigating why that was not the case. Aside from that, crude price action has been dictated by the overall market mood and price action in stocks. Turning to metals, spot gold and silver consolidate following yesterdays deep declines which saw the yellow metal briefly dip under USD 1,750/oz. Base metals meanwhile nurse yesterday’s losses, with, but LME copper remains sub-USD 9,500/t. Base metals, name iron and copper, are on the watch for any retaliation by China on Australia following the AUKUS security pact.

US Event Calendar

  • 10am: Sept. U. of Mich. Sentiment, est. 72.0, prior 70.3; Current Conditions, prior 78.5; Expectations, prior 65.1
  • 10am: Sept. U. of Mich. 1 Yr Inflation, est. 4.7%, prior 4.6%; 5-10 Yr Inflation, prior 2.9%

DB's Jim Reid concludes the overfnight wrap

If someone looks at my browser history over the last 18 hours they will see a stream of entries along the lines of “will my golf be affected if I have to have knee replacement surgery”. I’ve been quite discouraged by some of the articles but have decided to focus on the YouTube clips of 80 year olds with fake knees hitting it as far as I do now. So after having microfracture surgery yesterday I was told the hole in my knee was far bigger than was thought and that I likely have arthritis in some form and will probably need a knee replacement relatively soon. So I’m looking for inspirational stories from my readers today, who may have been through this sort of thing, preferably telling me how I can not only get back on the golf course, but actually have the chance to still get better and better. Only positive answers or lies will be read.

There are a few aching joints in markets at the moment but for now it’s mild and still heavily medicated by prior fiscal and monetary medicine. There is certainly a whiff of stagflation fears in the air though but I would stress that real-time growth is still pretty high but it’s just that expectations are coming down from even higher levels earlier in the summer. Inflation forces have remained almost exclusively firmer over this period notwithstanding a slight miss on US CPI this week at what are still very elevated levels.

Talking of inflation, there was an interesting article in the FT last night saying that the ECB expects the region to reach its 2% inflation target by 2025, which would suggest that the central bank could raise interest rates as soon as 2023. This might get a little traction today but the market will likely think that there’s a lot of water that needs to flow under the bridge before we get to 2023, let alone 2025. However, if a path to such a number does appear in their forecasts soon it will impact ECB messaging going forward which will be important to markets. The Euro rose +0.13% following the article’s release, but still fell -0.42% on the day versus the dollar, which was its worst day in nearly a month. Overnight, the ECB has rejected the accuracy of the FT report as they released a statement saying “The FT story is not accurate”, and that ECB Chief Economist Philip Lane said that he “didn’t say in any conversation with analysts that the euro area will reach 2% inflation soon after the end of the ECB’s projection horizon”.

Confusing the growth picture a little was the stronger US retail sales yesterday which brought forward a little taper risk back into the equation ahead of the Fed meeting next week. This sparked a mini sell off in US yields and left treasuries not far off where they were before the CPI miss on Tuesday.

Running through those themes in more depth, US retail sales unexpectedly rose +0.7% in August (vs. -0.7% expected), whilst the measure excluding autos also jumped +1.8% (vs. unch expected), so a solid outperformance. That said, the release wasn’t quite as strong as the headline figures suggested, since the July retail sales reading was revised down to show a larger -1.8% contraction (vs. -1.1% previously), so a bit less solid than on first inspection. Nevertheless, Treasury yields spiked higher in response, seeing an intraday peak of 1.350%, before falling back to close at 1.338%. The overall move left them up +3.9bps on the previous day, as investors moved to accelerate the likely path of future rate hikes.

The prospect of less monetary stimulus weighed on US equities yesterday with the S&P 500 falling back -0.16% (but comfortably off the lows) after moving between gains and losses for much of the session. Retailing stocks (+0.69%) and consumer services (+0.23%) outperformed on the better-than-expected retail print, while tech stocks also outperformed slightly with the NASDAQ eking out a +0.13% gain. One sector that really outpaced the market was airline stocks, which gained +1.56% - partly on news that the UK will be easing travel restrictions on at least 30 countries currently on the UK’s “red list”. European equities topped their US peers, with the STOXX 600 up +0.44% as bourses across the continent moved higher, but much of that was a catch-up to the previous day’s rally in the US, which took place shortly after the European close.

Amidst the broader selloff, commodities also lost ground for the first time this week, with Bloomberg’s Commodity Spot Index (-1.00%) moving off its high for the decade thanks to a broad decline across the asset class. One decline in particular came from European natural gas prices, which fell by a massive -10.54% as they paused for breath following their blistering run higher. That said, even that decline still leaves them up +9.21% for the week so far, so we’re hardly out of the woods yet on that front. Otherwise, oil prices just about maintained their upward momentum as Brent Crude (+0.28%) saw a moderate daily move, whilst gold (-2.25%) fell to a 1-month low as it experienced its worst daily performance since early-August.

Asian markets are mostly trading higher this morning, with the Nikkei (+0.53%), Hang Seng (+0.47%) and Kospi (+0.15%) all advancing. Chinese bourses are a bit mixed though with the CSI (+0.27%) up, whereas the Shanghai Comp (-0.59%) and Shenzhen Comp (-0.65%) have lost ground, which comes in spite of the PBoC increasing its cash injections into the financial system as risks associated with the debt crisis at the Evergrande Group are dampening sentiment. The injection totalled CNY 90bn of funds, which is the most since February. Outside of Asia, yields on 10y USTs are broadly stable along with futures on the S&P 500 (+0.01%), but those on the Stoxx 50 are up +0.56%.

In Germany, there’s now just a week on Sunday remaining until the federal election, and a fresh round of polls continue to indicate a pretty consistent lead for the centre-left SPD, with Chancellor Merkel’s CDU/CSU bloc trailing behind, and the Greens then in 3rd place. One from YouGov yesterday gave them 25%, ahead of the CDU/CSU on 20% and the Greens on 15%. Then another from Kantar put the SPD on 26%, ahead of the CDU/CSU on 20% and the Greens on 17%. And finally, another came from Infratest dimap that put the SPD on 26%, the CDU/CSU on 22%, and the Greens on 15%. These polls have been remarkably consistent over the last couple of weeks.

Elsewhere in Europe, sovereign bond yields also spiked following the US retail sales release, but they then fell back with yields on 10yr bunds (+0.4bps), OATs (-0.0bps) and BTPs (-0.8bps) all near unchanged by the end of the session. The main exception were gilts, where the short end of the curve saw yields press higher still, with those on 2yr (+2.1bps) and 5yr (+3.7bps) gilts climbing to fresh post-pandemic highs as investors continued to bring forward the timing of potential BoE rate hikes. Meanwhile, 10yr gilt yields rose +3.9bps to 0.817%, their highest level since the start of June and just over +30bps higher than its early-August lows.

Turning to the pandemic, there were further signs of a return to normality after the World Economic Forum said that they planned to return to Davos in person for their annual meeting in January. I certainly missed the uniqueness of the event last year. Separately, the UK’s ONS reported that 93.6% of adults in England were estimated to have Covid antibodies in the week ending August 29, but this was actually down four-tenths on the previous week’s peak of 94.0%. Furthermore, among those in their 70s, the decline in antibodies over recent months is now statistically significant, with the 75-79 age bracket seeing levels fall from a peak of 96.6% in late-May to 90.2% in late-August. Indicators like these can be expected to lead to further calls for boosters for those who were vaccinated some months ago. In the US, boosters could be authorised as soon as next week by federal regulators, especially for those over the age of 65 and other at-risk individuals. The FDA is meeting today to discuss Pfizer’s application for a third shot of its vaccine, with the CDC holding a two-day meeting next week on booster shots in general.

Looking at yesterday’s other data, the weekly initial jobless claims for the week through September 11 rose to 332k (vs. 322k expected), but that didn’t stop the 4-week moving average falling to 335.75k, which is its lowest level since the pandemic began. The claims number will be impacted by recent auto production shutdowns due to the worldwide chip shortage. Otherwise, the Philadelphia Fed’s business outlook for September rose to 30.7 (vs. 19.0 expected).

To the day ahead now, and data highlights include UK retail sales for August, the final Euro Area CPI reading for August, and the University of Michigan’s preliminary consumer sentiment index for September. Otherwise, central bank speakers include the ECB’s Makhlouf.

Tyler Durden Fri, 09/17/2021 - 08:04
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Energy & Critical Metals

Blue Sky Uranium Sued By Environmental Activists Over Flagship Project

When it comes to markets, sometimes, things just don’t go your way. After rising quickly in a sudden bull market
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When it comes to markets, sometimes, things just don’t go your way. After rising quickly in a sudden bull market for uranium, Blue Sky Uranium Corp (TSXV: BSK) appears to have just had the rug pulled out from under it.

After waiting years for a bull market, the company this morning notified the market that just when things were going its way, its become embroiled in a lawsuit. The firm this morning indicated it has received noticed that anti-mining and environmental activists in Argentina, where the company is focused, have taken aim at its flagship asset, the Amarillo Grande project.

The activists have filed a lawsuit before the Supreme Court of the Province of Rio Negro in the country, arguing for environmental protection rights, or Amparo, against the project. The bright side here, is that attempts to halt exploration of the properties via a preliminary request until the final decision was made on the case was denied by a Judge assigned to the matter.

Also included in the lawsuit is the Government of Rio Negro, whom is defending the claim. The company for its part states that it has obtained all relevant permits, and believes that the claims made by the activists are without merit.

In the interim, Blue Sky has stated that it intends to proceed with its planned exploration of the properties, working under the pretense of “business as normal.” The company indicated that it continues to proceed with its ongoing drill program as planned, wherein the firm is currently drilling 4,500 metres in aggregate on its Amarillo Grande Uranium-Vanadium project.

Blue Sky Uranium last traded at $0.355 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Blue Sky Uranium Sued By Environmental Activists Over Flagship Project appeared first on the deep dive.

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Articles

Gold Digger: Where do we go from here?

It’s been a frustrating few months for gold bulls. As an investment hedge, gold shines during periods of poor or … Read More
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It’s been a frustrating few months for gold bulls.

As an investment hedge, gold shines during periods of poor or volatile market sentiment. It loves drama like pandemics, civil wars, or the unprecedented failure of the Lehman Brothers in 2008.

Fun fact.

Now, the unwinding of economic support measures by central banks as global markets recover are dimming gold’s status as a ‘safe haven’.

After punching though that psychologically important $US1,800/oz mark recently, gold was down nearly 3% on Thursday as strong US retail sales data boosted the dollar.

Gold also often falls when the value of the USD goes up relative to other currencies worldwide.

Retail sales in the US unexpectedly rose 0.7% month-on-month in August — handily beating market forecasts of a 0.8% drop — giving ammo to those experts saying the Federal Reserve may hasten the unwinding of economic support and boost rates to help control inflationary pressures.

The strong retail sales figures show “consumer sentiment is starting to come back, a good indicator for the Fed to bring in those expectations on the next rate hike,” said Phillip Streible, chief market strategist at Blue Line Futures told Reuters.

An expected interest rates hike in the medium term could also translate to increased ‘opportunity cost’ of holding non-yielding assets like bullion.

Opportunity cost would be the potential losses suffered by not investing in something more appetising, like uranium stocks.

The next key moment for gold will be the Federal Reserve’s September 21-22 policy meeting.

So, what’s next? Opinions on the outlook vary widely.

“There are a lot of members in the FOMC in favour of commencing tapering this year, and therefore the outlook for gold is not positive,” said Quantitative Commodity Research analyst Peter Fertig.

Meanwhile, Metals Focus believes that despite growing expectations of monetary tapering in the US/Europe, “rate hikes may not occur as early as some anticipate, which should benefit non-yielding assets such as gold”.

“As nominal yields remain low and real yields negative, a lack of meaningful returns on key reserves currencies should favour gold’s role as an effective portfolio diversifier,” it says.

Also of importance will be geopolitical factors, Metals Focus says.

“Since President Biden’s inauguration, tensions between the US and its geopolitical rivals have shown little sign of easing.

“Going forward, for some countries a desire to cut exposure to dollar-denominated assets will continue to justify a rotation into gold.”

USD gold price over the past 2 years.

 

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

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

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
TSC Twenty Seven Co. Ltd 86 117 8 -19 0.0065 $ 21,286,511.24
KWR Kingwest Resources 64 69 -11 -29 0.12 $ 26,034,648.88
GTR Gti Resources 63 150 93 63 0.0425 $ 37,420,679.26
DLC Delecta Limited 56 133 133 100 0.014 $ 15,129,318.08
NPM Newpeak Metals 50 -25 -25 -57 0.0015 $ 13,654,870.31
THR Thor Mining PLC 50 50 50 62 0.021 $ 10,431,803.74
NXM Nexus Minerals Ltd 47 175 247 329 0.33 $ 85,453,084.85
MTC Metalstech Ltd 45 91 147 95 0.42 $ 65,851,219.77
REZ Resourc & En Grp Ltd 44 70 18 109 0.046 $ 19,857,316.29
XAM Xanadu Mines Ltd 38 16 -32 -22 0.036 $ 44,066,321.25
M24 Mamba Exploration 33 13 -19 0.22 $ 7,400,000.00
XTC Xantippe Res Ltd 33 0 0 -50 0.002 $ 8,149,128.80
SBR Sabre Resources 33 33 50 -48 0.006 $ 10,098,381.89
A8G Australasian Gold 33 181 0.38 $ 8,739,884.66
A8G Australasian Gold 33 181 0.38 $ 8,739,884.66
ICG Inca Minerals Ltd 27 43 33 139 0.14 $ 66,107,311.88
AM7 Arcadia Minerals 26 26 0.265 $ 9,063,000.00
TIN Tnt Mines Limited 26 64 64 42 0.27 $ 33,013,262.98
KCN Kingsgate Consolid. 25 21 5 -18 0.9 $ 189,228,987.32
LNY Laneway Res Ltd 25 0 0 -38 0.005 $ 19,520,329.67
MHC Manhattan Corp Ltd 25 36 -17 -70 0.015 $ 21,367,901.70
PDI Predictive Disc Ltd 24 2 101 93 0.1425 $ 195,969,001.19
MBK Metal Bank Ltd 22 38 10 10 0.011 $ 11,890,683.04
DCX Discovex Res Ltd 20 20 -14 -14 0.006 $ 15,411,984.46
NAE New Age Exploration 20 0 -14 33 0.012 $ 17,230,786.92
TNR Torian Resources Ltd 20 50 -40 112 0.036 $ 29,559,163.17
MEU Marmota Limited 19 11 11 -4 0.05 $ 49,395,218.19
GSM Golden State Mining 17 4 -10 -42 0.14 $ 11,171,028.33
BRB Breaker Res NL 16 33 46 19 0.285 $ 102,639,892.64
PRX Prodigy Gold NL 16 5 8 -38 0.043 $ 25,547,614.66
GIB Gibb River Diamonds 16 36 -17 53 0.072 $ 15,228,680.04
PF1 Pathfinder Resources 15 11 51 0.34 $ 16,465,759.20
BBX BBX Minerals Ltd 13 0 -19 -39 0.215 $ 96,184,509.75
CEL Challenger Exp Ltd 13 17 0 44 0.31 $ 306,007,933.77
IDA Indiana Resources 13 5 -15 24 0.063 $ 26,935,711.52
STK Strickland Metals 13 18 110 -14 0.045 $ 50,789,751.19
IPT Impact Minerals 12 8 -46 -44 0.014 $ 30,356,923.79
AGC AGC Ltd 12 -3 -18 0.14 $ 8,127,274.08
AGC AGC Ltd 12 -3 -18 0.14 $ 8,127,274.08
BYH Bryah Resources Ltd 12 -2 0 6 0.056 $ 11,891,187.45
BNR Bulletin Res Ltd 12 38 14 2 0.076 $ 13,267,687.48
PKO Peako Limited 12 4 12 -26 0.029 $ 9,253,623.03
SMI Santana Minerals Ltd 11 -12 -24 -48 0.11 $ 12,543,589.96
DRE Drednought Resources 11 -5 141 116 0.041 $ 109,446,209.12
AAR Anglo Australian 11 22 -2 -49 0.094 $ 53,656,131.51
ONX Orminexltd 11 -24 27 31 0.042 $ 23,559,464.53
PUR Pursuit Minerals 10 -17 -10 279 0.053 $ 50,598,751.46
GBZ GBM Rsources Ltd 10 0 5 -21 0.115 $ 52,417,116.84
SFM Santa Fe Minerals 9 13 -7 3 0.093 $ 6,772,147.38
CDR Codrus Minerals Ltd 9 3 0.175 $ 7,000,000.00
VRC Volt Resources Ltd 9 25 94 133 0.035 $ 92,672,200.43
PNM Pacific Nickel Mines 9 38 26 89 0.072 $ 15,472,442.59
HXG Hexagon Energy 9 9 -15 49 0.085 $ 37,465,161.47
FFX Firefinch Ltd 9 18 176 318 0.6475 $ 627,715,320.05
NSM Northstaw 8 -3 -26 0.32 $ 13,400,000.00
ADT Adriatic Metals 8 9 41 36 3.11 $ 572,687,790.70
AQI Alicanto Min Ltd 8 -7 13 -19 0.13 $ 44,397,107.24
SPQ Superior Resources 8 -7 0 44 0.013 $ 17,957,365.28
FAU First Au Ltd 8 8 -19 -28 0.013 $ 7,990,173.80
CAI Calidus Resources 8 22 27 4 0.59 $ 239,957,008.20
CLA Celsius Resource Ltd 7 4 -37 -22 0.029 $ 30,369,614.35
M2R Miramar 7 1 -8 0.1925 $ 9,206,928.90
WGX Westgold Resources. 7 -3 -18 -31 1.705 $ 757,073,788.59
CHN Chalice Mining Ltd 7 18 71 360 7.56 $ 2,770,564,713.00
MKG Mako Gold 7 12 -4 -42 0.096 $ 37,077,435.39
MOH Moho Resources 7 0 -24 -42 0.064 $ 6,816,176.53
OAU Ora Gold Limited 6 -19 -26 -32 0.017 $ 15,157,714.00
VMC Venus Metals Cor Ltd 6 0 0 -31 0.18 $ 26,438,769.53
TAR Taruga Minerals 6 -2 17 -20 0.055 $ 28,163,300.33
TAM Tanami Gold NL 6 -1 -10 12 0.075 $ 88,132,278.45
E2M E2 Metals 6 -5 -15 50 0.285 $ 42,884,295.71
SLR Silver Lake Resource 5 2 -16 -46 1.35 $ 1,239,455,712.60
ARL Ardea Resources Ltd 5 -4 -8 -9 0.485 $ 67,636,767.31
MCT Metalicity Limited 5 0 -33 -60 0.01 $ 21,437,715.32
CXU Cauldron Energy Ltd 5 33 5 0 0.04 $ 21,616,919.72
AQX Alice Queen Ltd 5 -25 -61 -72 0.0105 $ 15,072,453.11
OBM Ora Banda Mining Ltd 5 -13 -61 -72 0.105 $ 107,110,795.55
TIE Tietto Minerals 5 -4 -10 -45 0.33 $ 152,822,127.76
ANX Anax Metals Ltd 5 26 53 350 0.11 $ 38,520,227.90
SKY SKY Metals Ltd 5 1 -43 -32 0.092 $ 28,602,902.58
LM8 Lunnonmetalslimited 5 -12 0.575 $ 44,045,089.70
ICL Iceni Gold 5 15 0.23 $ 28,148,298.36
MRZ Mont Royal Resources 4 42 37 39 0.355 $ 13,446,233.83
GUL Gullewa Limited 4 8 27 13 0.095 $ 17,514,325.20
FFR Firefly Resources 4 2 -8 -23 0.12 $ 37,000,743.60
DTM Dart Mining NL 4 9 -27 -40 0.12 $ 10,994,002.36
TCG Turaco Gold Limited 4 -11 100 50 0.12 $ 38,621,601.50
MAU Magnetic Resources 4 8 9 49 1.695 $ 361,077,125.95
FML Focus Minerals Ltd 4 -9 -20 -39 0.245 $ 44,773,398.43
KZR Kalamazoo Resources 4 -1 -20 -51 0.37 $ 52,393,159.26
PRU Perseus Mining Ltd 4 2 20 -4 1.48 $ 1,938,611,920.60
BMO Bastion Minerals 4 52 22 0.25 $ 15,225,378.90
SI6 SI6 Metals Limited 4 4 -34 -22 0.0125 $ 17,137,727.82
AOP Apollo Consolidated 4 0 7 12 0.38 $ 112,273,927.15
GOR Gold Road Res Ltd 4 8 11 -20 1.325 $ 1,233,828,034.60
MVL Marvel Gold Limited 4 -7 17 -11 0.055 $ 31,262,371.63
PRS Prospech Limited 4 -6 -38 0 0.084 $ 5,475,204.42
NVA Nova Minerals Ltd 4 27 -15 59 0.14 $ 243,737,263.82
CST Castile Resources 4 -7 4 -37 0.2175 $ 43,936,226.62
KAU Kaiser Reef 4 8 -38 -44 0.225 $ 24,031,879.65
BRV Big River Gold Ltd 3 -14 -23 -25 0.3 $ 65,832,735.60
AGS Alliance Resources 3 3 -16 -35 0.155 $ 32,242,655.77
SLZ Sultan Resources Ltd 3 -11 -14 -26 0.16 $ 11,125,502.24
EMU EMU NL 3 14 -43 7 0.032 $ 14,608,463.49
RND Rand Mining Ltd 3 -1 0 -29 1.5 $ 85,313,941.50
AMI Aurelia Metals Ltd 3 2 -12 -33 0.335 $ 438,359,988.14
WMC Wiluna Mining Corp 3 3 -5 -49 1.02 $ 164,639,575.36
CWX Carawine Resources 3 -11 -39 -9 0.2 $ 21,233,530.89
HWK Hawkstone Mng Ltd 3 -2 8 186 0.04 $ 68,650,443.88
DCN Dacian Gold Ltd 3 -15 -49 -40 0.205 $ 198,323,150.82
OKR Okapi Resources 2 52 247 205 0.625 $ 66,621,180.53
CAZ Cazaly Resources 2 -8 5 -12 0.046 $ 16,999,910.28
AAJ Aruma Resources Ltd 2 14 75 -29 0.096 $ 11,336,535.27
ENR Encounter Resources 2 53 58 88 0.245 $ 75,901,565.52
WWI West Wits Mining Ltd 2 -17 -50 61 0.05 $ 66,830,263.50
AXE Archer Materials 2 -38 59 187 1.65 $ 373,438,735.44
GBR Greatbould Resources 2 80 299 228 0.1475 $ 53,543,371.35
VAN Vango Mining Ltd 2 -2 -19 -36 0.064 $ 70,346,777.66
SAU Southern Gold 2 -2 -19 -54 0.065 $ 14,079,697.90
PAK Pacific American Hld 2 7 -12 -23 0.018 $ 5,734,528.20
NUS Nusantara Resources 1 4 30 9 0.35 $ 79,927,187.42
KTA Krakatoa Resources 1 37 8 -29 0.07 $ 19,450,854.52
SVL Silver Mines Limited 1 -8 -10 -12 0.2025 $ 250,292,605.09
SVY Stavely Minerals Ltd 1 2 -40 -22 0.435 $ 114,823,038.88
S2R S2 Resources 1 -29 -39 -62 0.1 $ 37,419,359.78
NST Northern Star 1 -3 -2 -39 9.17 $ 11,106,965,034.00
RMS Ramelius Resources 1 -8 -7 -43 1.42 $ 1,208,933,287.65
EMR Emerald Res NL 1 2 6 32 0.855 $ 458,703,514.23
EVN Evolution Mining Ltd 1 -3 -8 -39 3.8 $ 7,185,121,836.48
AWV Anova Metals Ltd 0 -12 -12 -29 0.022 $ 31,528,072.40
KCC Kincora Copper 0 -13 0.175 $ 13,624,349.38
TRY Troy Resources Ltd 0 -5 -50 -63 0.037 $ 30,073,993.35
CDT Castle Minerals 0 0 27 17 0.014 $ 10,255,011.45
AWJ Auric Mining 0 -4 -24 0.13 $ 5,810,999.61
BTR Brightstar Resources 0 -3 -42 4 0.028 $ 12,313,021.39
GMR Golden Rim Resources 0 -13 -13 -56 0.007 $ 18,692,447.75
AL8 Alderan Resource Ltd 0 -2 -32 -57 0.049 $ 16,760,805.50
G88 Golden Mile Res Ltd 0 -5 2 -8 0.054 $ 7,614,989.71
ERM Emmerson Resources 0 -4 -6 -26 0.068 $ 33,880,217.25
AME Alto Metals Limited 0 -9 4 -7 0.079 $ 35,570,519.14
IVR Investigator Res Ltd 0 -2 -24 14 0.065 $ 88,704,422.67
ALY Alchemy Resource Ltd 0 7 25 -17 0.015 $ 9,411,408.34
KGM Kalnorth Gold Ltd 0 0 0 0 0.013 $ 11,625,120.78
SIH Sihayo Gold Limited 0 11 -17 -55 0.01 $ 36,854,614.13
CTO Citigold Corp Ltd 0 0 -29 -23 0.01 $ 31,170,250.00
GED Golden Deeps 0 0 10 -33 0.011 $ 8,922,291.56
CGN Crater Gold Min Ltd 0 0 -15 21 0.017 $ 20,867,429.74
RMX Red Mount Min Ltd 0 0 -9 11 0.01 $ 16,109,041.32
NES Nelson Resources. 0 -2 -61 -34 0.046 $ 8,743,148.78
CHZ Chesser Resources 0 -10 -23 -33 0.135 $ 62,571,976.88
POL Polymetals Resources 0 -4 0.135 $ 4,658,790.84
KAI Kairos Minerals Ltd 0 10 28 -48 0.032 $ 53,648,626.88
MML Medusa Mining Ltd 0 -1 -12 -9 0.81 $ 171,495,473.33
TG1 Techgen Metals Ltd 0 6 0.19 $ 7,320,469.15
PNR Pantoro Limited 0 2 2 -9 0.215 $ 309,979,713.56
FG1 Flynngold 0 -3 0.155 $ 9,299,999.69
HCH Hot Chili Ltd 0 3 -15 5 0.041 $ 157,538,426.64
TTM Titan Minerals 0 19 14 0 0.125 $ 150,866,736.93
TSO Tesoro Resources Ltd 0 5 -49 -54 0.11 $ 55,110,755.59
DDD 3D Resources Limited 0 0 -27 -31 0.004 $ 15,521,488.37
PNX PNX Metals Limited 0 -19 -13 -41 0.0065 $ 21,913,161.07
RED Red 5 Limited 0 10 16 -39 0.215 $ 494,835,736.92
AVW Avira Resources Ltd 0 0 -17 -38 0.005 $ 7,562,720.00
ADV Ardiden Ltd 0 15 -17 -44 0.015 $ 32,240,313.24
WCN White Cliff Min Ltd 0 8 -28 8 0.013 $ 6,723,553.19
NCM Newcrest Mining 0 -7 -2 -28 23.83 $ 20,056,289,041.68
RSG Resolute Mining -1 -12 -31 -58 0.4325 $ 491,232,254.17
CYL Catalyst Metals -1 -4 -12 -23 1.88 $ 184,795,959.24
SBM St Barbara Limited -1 -12 -30 -59 1.41 $ 1,065,977,812.03
DTR Dateline Resources -1 -7 20 20 0.09 $ 39,105,857.97
NML Navarre Minerals Ltd -1 -3 -40 -30 0.087 $ 60,723,577.14
EM2 Eagle Mountain -1 5 60 202 0.8 $ 169,704,216.81
RVR Red River Resources -1 -1 -28 33 0.1725 $ 90,610,514.23
BCN Beacon Minerals -2 -2 -12 -8 0.0325 $ 114,672,836.64
BDC Bardoc Gold Ltd -2 -12 -19 -28 0.06 $ 105,850,699.94
RRL Regis Resources -2 -13 -27 -62 2.08 $ 1,621,547,634.30
DGO DGO Gold Limited -2 -11 -1 -26 2.9 $ 231,905,216.34
BC8 Black Cat Syndicate -2 -1 -20 -29 0.545 $ 77,444,296.05
YRL Yandal Resources -2 0 12 117 0.51 $ 51,726,575.80
GSN Great Southern -2 -9 -17 -58 0.05 $ 27,305,662.68
G50 Gold50Limited -2 -16 0.245 $ 12,327,910.25
HAW Hawthorn Resources -2 7 -35 -51 0.048 $ 16,675,780.65
ZNC Zenith Minerals Ltd -2 12 88 114 0.235 $ 75,732,746.65
BGL Bellevue Gold Ltd -2 -13 0 -27 0.8125 $ 823,049,483.34
STN Saturn Metals -3 -20 10 -48 0.39 $ 44,482,731.45
AUC Ausgold Limited -3 -5 -20 3 0.039 $ 64,999,331.18
HMX Hammer Metals Ltd -3 -1 -18 100 0.078 $ 63,452,580.59
KSN Kingston Resources -3 -3 -17 -28 0.195 $ 55,800,138.62
VKA Viking Mines Ltd -3 -24 -54 44 0.0175 $ 18,382,651.76
AZS Azure Minerals -3 45 6 55 0.34 $ 108,232,502.35
GRL Godolphin Resources -3 6 -20 -21 0.165 $ 13,878,359.72
TLM Talisman Mining -3 -14 68 35 0.155 $ 30,793,683.53
ADN Andromeda Metals Ltd -3 -11 -63 60 0.155 $ 381,540,567.13
MTH Mithril Resources -3 -16 -18 -68 0.0155 $ 41,123,728.66
BMR Ballymore Resources -3 0 0 0 0.31 $ 20,728,643.49
TBR Tribune Res Ltd -3 -14 -3 -39 4.83 $ 252,371,450.37
MGV Musgrave Minerals -3 -11 -18 -54 0.28 $ 146,636,310.98
AUT Auteco Minerals -4 -15 -9 -45 0.082 $ 138,375,851.69
ZAG Zuleika Gold Ltd -4 -7 -36 -10 0.027 $ 10,662,427.70
AAU Antilles Gold Ltd -4 -1 -20 100 0.079 $ 20,443,475.63
RDN Raiden Resources Ltd -4 13 4 44 0.026 $ 32,464,678.90
PGD Peregrine Gold -4 -10 0.385 $ 12,935,536.08
NAG Nagambie Resources -4 15 35 54 0.077 $ 38,494,790.64
SNG Siren Gold -4 0 -34 0.25 $ 17,923,671.00
CY5 Cygnus Gold Limited -4 -17 -26 -32 0.125 $ 13,281,462.01
WAF West African Res Ltd -4 -5 9 -14 0.975 $ 892,236,134.13
NWM Norwest Minerals -4 0 -6 -33 0.07 $ 12,461,901.98
HRZ Horizon -4 0 15 -18 0.115 $ 65,317,148.00
KRM Kingsrose Mining Ltd -4 -6 -6 22 0.045 $ 32,850,330.84
RML Resolution Minerals -4 10 -8 -58 0.022 $ 9,848,951.51
QML Qmines Limited -4 -6 0.33 $ 15,955,213.66
CBY Canterbury Resources -5 15 -5 5 0.105 $ 12,620,845.65
AGG AngloGold Ashanti -5 -13 -27 -49 4.2 $ 384,485,467.15
MAT Matsa Resources -5 -5 -32 -56 0.061 $ 22,205,586.44
DEG De Grey Mining -4 -13 2 -29 1.01 $ 1,369,962,084.66
TBA Tombola Gold Ltd -5 -15 -23 -30 0.04 $ 25,371,831.16
TMZ Thomson Res Ltd -5 -11 -29 108 0.1 $ 51,931,040.48
RXL Rox Resources -5 0 -28 -58 0.4 $ 66,195,197.88
MDI Middle Island Res -5 -3 -64 -77 0.095 $ 11,629,731.09
MZZ Matador Mining Ltd -5 -11 17 -31 0.37 $ 83,493,316.14
LCL Los Cerros Limited -5 -15 -2 -30 0.1325 $ 82,384,751.15
ALK Alkane Resources Ltd -6 -18 6 -43 0.7725 $ 482,264,928.00
MEI Meteoric Resources -6 -23 -54 -37 0.031 $ 42,793,329.25
MRR Minrex Resources Ltd -6 -17 -35 -38 0.015 $ 9,209,261.41
GML Gateway Mining -6 -17 -50 -32 0.015 $ 28,554,534.00
SRN Surefire Rescs NL -6 0 -40 0 0.015 $ 15,460,345.73
LCY Legacy Iron Ore -6 0 -6 200 0.015 $ 96,071,077.76
BAT Battery Minerals Ltd -6 0 -42 7 0.015 $ 30,490,999.23
ARN Aldoro Resources -6 -28 110 340 0.44 $ 39,121,547.11
CMM Capricorn Metals -7 7 44 2 2.27 $ 843,419,441.57
SSR SSR Mining Inc. -7 -9 5 20.52 $ 483,612,096.00
MM8 Medallion Metals. -7 16 0.2325 $ 18,825,545.00
BNZ Benzmining -7 -1 3 0.78 $ 37,442,480.46
ASO Aston Minerals Ltd -7 8 63 183 0.13 $ 128,816,652.92
OKU Oklo Resources Ltd -8 -4 -29 -61 0.12 $ 63,003,726.50
TRN Torrens Mining -8 -13 3 0.17 $ 11,843,039.46
BGD Bartongoldholdings -8 -13 0.17 $ 15,021,999.30
RDS Redstone Resources -8 0 -15 -45 0.011 $ 7,908,989.69
GMN Gold Mountain Ltd -9 -5 -44 -50 0.021 $ 23,543,281.74
TRM Truscott Mining Corp -9 -11 48 55 0.031 $ 4,710,187.86
RGL Riversgold -9 -23 -38 -49 0.03 $ 12,929,350.27
AYM Australia United Min -9 43 11 150 0.01 $ 20,268,352.34
LEX Lefroy Exploration -9 -4 -37 50 0.39 $ 48,089,866.80
OZM Ozaurum Resources -9 7 -22 0.145 $ 8,260,650.00
DEX Duke Exploration -10 -11 -23 0.235 $ 21,199,620.72
TMX Terrain Minerals -10 13 -10 -44 0.009 $ 6,621,849.08
BAR Barra Resources -10 35 35 13 0.027 $ 21,360,712.85
GNM Great Northern -10 -18 -10 -61 0.009 $ 12,090,509.76
MEG Megado -11 -22 -44 0.098 $ 4,218,782.20
ARV Artemis Resources -11 29 1 5 0.081 $ 107,929,797.99
WRM White Rock Min Ltd -11 -25 -53 -59 0.28 $ 42,027,402.74
PUA Peak Minerals Ltd -11 -20 -30 -41 0.016 $ 9,835,242.43
HRN Horizon Gold Ltd -13 -3 -19 -27 0.35 $ 36,275,285.44
NMR Native Mineral Res -13 -8 -21 0.225 $ 6,483,037.50
MKR Manuka Resources. -15 -6 -23 -45 0.29 $ 30,954,774.22
A1G African Gold Ltd. -19 73 10 117 0.285 $ 25,594,196.32
GWR GWR Group Ltd -22 -46 -42 -27 0.145 $ 45,417,966.45
MLS Metals Australia -25 -25 -25 -50 0.0015 $ 8,454,376.09
ANL Amani Gold Ltd -25 0 50 -25 0.0015 $ 24,773,993.49

 

TOP WEEKLY GOLD PERFORMERS

KINGWEST RESOURCES (ASX:KWR)

Kingwest is now up 64% since announcing a gold discovery under a WA salt lake called ‘Goongarrie’ on Monday.

Exploring for gold underneath salt lakes is tough, which is probably why so many remain underexplored — regardless of how prospective they are.

That is why early results like 3m @ 6.5g/t gold and 3m @ 4.1g/t gold from Kingwest are so important.

“These results support our targeting for a potential major discovery which we have named the ‘Sir Laurence’ Prospect,” CEO Ed Turner says.

“We have just scratched the surface of bedrock mineralisation at this stage.

“I look forward to receiving the outstanding assays as well as planning follow up drilling along strike within Target A10, which includes many other similar litho-structural targets.”


 

NEXUS MINERALS (ASX:NXM)

The explorer keeps hitting high-grade gold at the emerging ‘Wallbrook’ gold project in WA.

Earlier this month, the previously undrilled ‘Templar’ discovery delivered numerous hits like 10m @ 5.64g/t gold (within 23m @ 2.85g/t Au from 132m).

Templar and the neighbouring ‘Crusader’ target could be part of one giant system, Nexus managing director Andy Tudor says.

“These broad high-grade results received from Templar occur in the same altered and mineralised rocks we see at the Crusader prospect, 1.2km to the south,” he says.

“This has effectively linked the two prospects together into one large mineralised system.”

A 700m deep diamond drill hole at Templar is now underway.

The $86m market cap stock is up ~170% over the past month.

 

METALSTECH (ASX:MTC)

$6 billion market cap Chifeng Gold Mining will buy ~5.8m shares in emerging miner MetalsTech at 34c apiece for a total investment of $2m.

This is a pretty big deal, MTC says.

“Chifeng is widely considered to be one of the most successful precious metals investors in China owing largely to the experience of their chairman Mr Wang Jianhua who before transforming Chifeng, served as CEO of $62bn capped Zijin Mining and before that, chairman of $17bn capped Shandong Gold,” MTC chairman Russell Moran says.

MTC’s 1.5moz (and growing) ‘Sturec’ project could be a world class epithermal deposit, he says.

“We hope that this recent interest from Chifeng is a sign of growing interest in our broader development plans for Sturec.”

MTC also reminds investors that they need to finalise their shareholdings by October 7 to receive free shares in lithium spinout Winsome Resources (ASX:WR1).

The post Gold Digger: Where do we go from here? appeared first on Stockhead.

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