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Gold about to hit next leg of bull market and stocks are cheap, expert says

After 12 months of price consolidation, we are entering a new stage of a gold bull market which Barry Dawes … Read More
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This article was originally published by Stockhead

The gold price itself had 12 months of consolidation. Now we are entering a new stage of a bull market which Barry Dawes of Martin Place Securities believes “will take it much, much higher”.

In the big scheme of things, the pullback we have seen over the past 12 months is ‘small beer’, Dawes told the Virtual Gold Conference earlier this week.

“Now everything is aligned up for gold prices in the decade to be very strong,” he says.

“The short and medium term looks very good; the long term looks very good.”

Punters should look to the big gold stocks in the US – they are the ones that matter, Dawes says.

“They are the stocks that we need to follow, because when there is movement in the Philadelphia Gold Index, we know that the big money is flowing into the sector,” he says.

The Philadelphia Gold and Silver Index, which includes 30 mega cap precious metal mining companies, is one of the most watched gold indices in the market.

Philadelphia Gold and Silver Index over the past 30 years.

“We are seeing [sentiment] turn now – when we look at individual stocks, when we look at the Philadelphia Gold Index — it certainly seems to me that things are [moving in the right direction],” Dawes says.

“All these different indicators are telling us that gold stocks are under-owned; gold is under-owned,” he says.

“Now there are a lot of cyclical and secular features coming together at one time. The market response should be very, very strong when things turn.”

Rick Rule, well-known gold bug and president & CEO of Sprott US Holdings, also believes a recovery in the gold price – and the value of gold stocks — is imminent.

“I think gold and precious metals equities are already in recovery. I believe the cyclical decline is over, and we will soon resume a secular bull market.”

 

ASX gold stocks are cheap

When things do turn, Aussie gold stocks – which are also cheap — will be world leaders, Dawes says.

“We are leading the world in terms of gold production, in terms of company balance sheets, dividend polices,” he says.

“[Aussie listed miners] have robust earnings, exploration programs that are fully funded and doing wonderful things for the sector. We are leading the world.”

 

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
NXM Nexus Minerals Ltd 50 24 35 71 0.12 $ 29,298,200.52
ANL Amani Gold Ltd 50 0 50 0 0.0015 $ 12,386,996.75
ICL Iceni Gold 30 50 0.24 $ 19,386,498.78
BRB Breaker Res NL 21 21 3 -18 0.2 $ 63,538,981.16
SNG Siren Gold 18 10 -42 0.265 $ 18,932,841.26
TIN Tnt Mines Limited 17 17 -13 6 0.17 $ 20,408,198.93
AUC Ausgold Limited 17 0 -20 5 0.041 $ 61,828,632.10
MM8 Medallion Metals. 17 -8 0.24 $ 19,027,970.21
NAG Nagambie Resources 16 -15 30 37 0.078 $ 33,495,467.18
A8G Australasian Gold 16 4 0.145 $ 4,801,666.45
AYM Australia United Min 14 0 -20 167 0.008 $ 12,898,042.40
RMX Red Mount Min Ltd 13 -5 -31 0 0.009 $ 13,180,124.72
MKG Mako Gold 12 0 -4 -35 0.091 $ 30,225,888.19
LM8 Lunnonmetalslimited 11 37 0.59 $ 44,428,090.48
PUR Pursuit Minerals 11 5 24 351 0.063 $ 58,401,876.71
ARV Artemis Resources 10 16 -21 -26 0.064 $ 79,064,852.01
CXU Cauldron Energy Ltd 10 6 -18 18 0.033 $ 15,047,983.90
MGV Musgrave Minerals 9 -16 -8 -50 0.295 $ 159,966,884.70
GIB Gibb River Diamonds 9 2 -21 9 0.06 $ 12,479,057.26
CDT Castle Minerals 8 0 56 -7 0.014 $ 9,522,510.63
AQX Alice Queen Ltd 8 -7 -53 -71 0.014 $ 17,930,506.35
BAR Barra Resources 8 0 -13 -16 0.021 $ 13,552,162.02
DRE Drednought Resources 8 -7 139 231 0.043 $ 109,090,072.14
PKO Peako Limited 7 -16 24 14 0.031 $ 9,562,077.13
BCN Beacon Minerals 6 -3 -4 4 0.034 $ 121,839,888.93
A1G African Gold Ltd. 6 -12 -5 16 0.18 $ 16,453,411.92
M2R Miramar 6 -5 -21 0.19 $ 8,498,703.60
ANX Anax Metals Ltd 5 5 16 223 0.079 $ 28,014,711.20
CBY Canterbury Resources 5 10 -8 5 0.11 $ 12,305,171.67
ADN Andromeda Metals Ltd 5 2 -41 242 0.1675 $ 418,323,597.82
KTA Krakatoa Resources 4 -2 -18 -35 0.053 $ 15,619,625.60
TCG Turaco Gold Limited 4 35 125 145 0.135 $ 45,210,901.95
XAM Xanadu Mines Ltd 4 -22 -39 -42 0.028 $ 35,253,057.00
REZ Resourc & En Grp Ltd 4 -6 -31 32 0.029 $ 12,518,742.88
FG1 Flynngold 3 -9 0.15 $ 8,999,999.70
MAU Magnetic Resources 3 6 10 0 1.595 $ 347,986,716.55
GTR Gti Resources 3 -28 -18 -38 0.018 $ 11,601,323.96
AOP Apollo Consolidated 3 23 7 10 0.38 $ 110,815,824.20
ICG Inca Minerals Ltd 3 7 40 52 0.1025 $ 48,078,045.00
NUS Nusantara Resources 1 0 19 8 0.34 $ 77,952,822.38
AAU Antilles Gold Ltd 1 0 -14 82 0.077 $ 19,433,921.28
HMX Hammer Metals Ltd 1 -7 -23 47 0.081 $ 65,079,569.84
AUT Auteco Minerals 1 -27 -8 -55 0.091 $ 151,713,283.18
EVN Evolution Mining Ltd 1 -7 -4 -34 3.96 $ 7,286,504,019.78
WMC Wiluna Mining Corp 1 7 -14 -20 1.01 $ 155,932,674.74
ARL Ardea Resources Ltd 1 2 -11 -11 0.505 $ 70,397,451.69
NST Northern Star 1 -9 -10 -36 9.32 $ 10,952,920,502.27
DGO DGO Gold Limited 1 -9 16 4 3.17 $ 255,649,777.74
CYL Catalyst Metals 1 -4 2 -29 1.925 $ 187,744,830.93
POL Polymetals Resources 0 -7 0.14 $ 5,241,139.70
BGD Bartongoldholdings 0 -3 0.185 $ 15,451,199.28
G88 Golden Mile Res Ltd 0 -4 20 -10 0.053 $ 7,140,934.73
HXG Hexagon Energy 0 0 -19 20 0.073 $ 32,112,995.54
BMO Bastion Minerals 0 -6 0.17 $ 9,767,224.20
SRN Surefire Rescs NL 0 0 -52 67 0.015 $ 16,555,656.15
TMX Terrain Minerals 0 -11 0 -56 0.008 $ 5,886,088.07
GMR Golden Rim Resources 0 -11 -20 -38 0.008 $ 21,362,797.43
BTR Brightstar Resources 0 11 -38 63 0.031 $ 13,632,273.68
SPQ Superior Resources 0 -7 17 75 0.014 $ 18,648,033.18
SI6 SI6 Metals Limited 0 -14 -48 50 0.012 $ 16,719,123.17
DLC Delecta Limited 0 0 -25 -14 0.006 $ 6,051,727.23
RDN Raiden Resources Ltd 0 -21 -8 175 0.022 $ 27,470,112.91
AL8 Alderan Resource Ltd 0 0 -52 -70 0.05 $ 17,102,862.75
CWX Carawine Resources 0 2 5 -9 0.21 $ 22,866,879.42
VKA Viking Mines Ltd 0 16 -52 112 0.022 $ 22,467,685.48
LCY Legacy Iron Ore 0 -13 -44 180 0.014 $ 89,666,339.24
ZNC Zenith Minerals Ltd 0 -23 74 100 0.2 $ 64,453,401.40
CGN Crater Gold Min Ltd 0 0 -26 55 0.017 $ 20,867,429.74
CAI Calidus Resources 0 -1 16 -17 0.475 $ 189,965,964.83
PAK Pacific American Hld 0 -6 -27 23 0.016 $ 5,097,358.40
AWV Anova Metals Ltd 0 15 0 -38 0.023 $ 32,961,166.60
OKU Oklo Resources Ltd 0 -8 -34 -61 0.115 $ 60,483,577.44
TRM Truscott Mining Corp 0 6 48 70 0.034 $ 5,166,012.50
ENR Encounter Resources 0 0 11 7 0.155 $ 47,438,478.45
BNR Bulletin Res Ltd 0 -10 -19 -28 0.055 $ 8,964,653.70
WWI West Wits Mining Ltd 0 -28 -13 142 0.058 $ 86,575,568.63
CST Castile Resources 0 10 33 -29 0.22 $ 42,937,676.02
MML Medusa Mining Ltd 0 -15 1 -20 0.795 $ 170,456,106.82
MTH Mithril Resources 0 -14 -10 -50 0.018 $ 39,953,961.70
RDS Redstone Resources 0 -12 -21 -31 0.011 $ 7,908,989.69
MHC Manhattan Corp Ltd 0 -23 -47 -66 0.01 $ 15,262,786.93
XTC Xantippe Res Ltd 0 -25 -25 -50 0.0015 $ 6,111,846.60
SIH Sihayo Gold Limited 0 0 -25 -71 0.009 $ 36,854,614.13
NPM Newpeak Metals 0 0 -33 -20 0.002 $ 13,654,870.31
NAE New Age Exploration 0 -15 0 22 0.011 $ 15,712,388.01
MLS Metals Australia 0 0 0 -20 0.002 $ 8,454,376.09
MZZ Matador Mining Ltd 0 -5 21 -8 0.41 $ 88,460,337.42
LNY Laneway Res Ltd 0 -17 -17 -38 0.005 $ 15,616,263.73
KGM Kalnorth Gold Ltd 0 0 0 0 0.013 $ 11,625,120.78
DDD 3D Resources Limited 0 0 8 -3 0.004 $ 15,521,488.37
TRY Troy Resources Ltd 0 -5 -52 -69 0.039 $ 31,863,880.88
ALY Alchemy Resource Ltd 0 -7 -22 -18 0.014 $ 9,411,408.34
FFR Firefly Resources 0 5 11 21 0.115 $ 35,459,045.95
SFM Santa Fe Minerals 0 1 -29 14 0.082 $ 5,971,140.70
MRR Minrex Resources Ltd 0 -5 -25 -44 0.018 $ 9,454,329.94
MBK Metal Bank Ltd 0 -11 -33 -11 0.008 $ 9,512,546.43
MEU Marmota Limited 0 -8 0 -10 0.045 $ 43,584,016.05
PNX PNX Metals Limited 0 -6 0 -27 0.008 $ 29,217,548.09
GML Gateway Mining 0 -5 -38 -22 0.018 $ 34,265,440.80
ERM Emmerson Resources 0 -7 5 -32 0.068 $ 33,880,217.25
TTM Titan Minerals 0 -13 -16 -25 0.105 $ 121,853,902.91
SLZ Sultan Resources Ltd 0 -5 -10 6 0.18 $ 12,168,518.08
STK Strickland Metals 0 -15 79 -7 0.04 $ 42,145,662.16
AVW Avira Resources Ltd 0 -20 -20 -38 0.004 $ 5,500,160.00
DCX Discovex Res Ltd 0 -17 -38 -33 0.005 $ 12,843,320.38
AME Alto Metals Limited 0 -4 17 6 0.088 $ 39,622,856.77
WGX Westgold Resources. -1 -10 -14 -24 1.665 $ 725,263,965.54
WRM White Rock Min Ltd -1 -23 -35 -41 0.3725 $ 33,589,817.25
CMM Capricorn Metals -1 15 35 7 2.09 $ 766,075,300.64
GUL Gullewa Limited -1 6 -3 -13 0.087 $ 16,562,459.70
PGD Peregrine Gold -1 -3 0.43 $ 12,354,946.35
AAR Anglo Australian -1 1 -18 -50 0.08 $ 48,290,518.36
TAM Tanami Gold NL -1 -1 -14 1 0.073 $ 88,132,278.45
QML Qmines Limited -1 1 0.35 $ 16,424,484.65
NSM Northstaw -1 -8 -27 0.33 $ 13,200,000.00
RMS Ramelius Resources -2 -13 18 -27 1.495 $ 1,245,567,629.70
RRL Regis Resources -2 -8 -23 -57 2.38 $ 1,847,810,094.90
MKR Manuka Resources. -2 11 -39 -48 0.295 $ 28,924,952.96
E2M E2 Metals -2 -3 -19 48 0.295 $ 42,098,577.08
NCM Newcrest Mining -2 -6 2 -27 24.77 $ 20,873,578,733.68
S2R S2 Resources -2 0 -20 -35 0.14 $ 44,084,765.06
SSR SSR Mining Inc. -2 -1 9 21.26 $ 463,619,432.64
RND Rand Mining Ltd -2 2 -13 -33 1.52 $ 86,451,460.72
GOR Gold Road Res Ltd -2 -8 5 -30 1.21 $ 1,087,887,587.93
CAZ Cazaly Resources -2 -8 17 4 0.048 $ 18,108,600.08
KRM Kingsrose Mining Ltd -2 -16 -2 35 0.046 $ 34,310,345.54
HAW Hawthorn Resources -2 -14 -44 -58 0.044 $ 14,674,686.97
PRU Perseus Mining Ltd -2 -5 28 -2 1.435 $ 1,791,375,572.20
HCH Hot Chili Ltd -2 17 8 24 0.041 $ 150,928,033.04
AM7 Arcadia Minerals -3 12 0.19 $ 6,498,000.00
TG1 Techgen Metals Ltd -3 -18 0.18 $ 6,742,537.38
PRX Prodigy Gold NL -3 -14 -12 -49 0.036 $ 21,483,221.42
KZR Kalamazoo Resources -3 -4 -23 -51 0.355 $ 51,659,852.09
RGL Riversgold -3 -5 -13 -43 0.035 $ 14,141,476.86
VMC Venus Metals Cor Ltd -3 -13 -17 -26 0.175 $ 26,438,769.53
WAF West African Res Ltd -3 -5 31 0 1.005 $ 909,904,176.39
CDR Codrus Minerals Ltd -3 -18 0.165 $ 6,400,000.00
DEG De Grey Mining -3 -4 35 41 1.13 $ 1,486,279,620.15
ZAG Zuleika Gold Ltd -3 11 -31 -16 0.031 $ 12,712,894.56
CHZ Chesser Resources -3 21 -17 -17 0.145 $ 69,524,418.75
NML Navarre Minerals Ltd -3 -9 -39 -34 0.086 $ 60,636,577.14
MVL Marvel Gold Limited -3 6 12 10 0.057 $ 32,999,170.06
KAI Kairos Minerals Ltd -3 0 -7 -22 0.028 $ 47,780,573.90
PF1 Pathfinder Resources -3 -7 -8 0.28 $ 14,420,015.10
AQI Alicanto Min Ltd -4 -21 23 -13 0.135 $ 44,262,107.24
AWJ Auric Mining -4 -7 -25 0.135 $ 5,929,541.42
SVY Stavely Minerals Ltd -4 -5 -42 -37 0.4 $ 106,994,195.32
CEL Challenger Exp Ltd -4 -9 -25 27 0.26 $ 219,272,674.66
OZM Ozaurum Resources -4 -4 -32 0.13 $ 6,762,600.00
FML Focus Minerals Ltd -4 -4 -25 -45 0.26 $ 45,687,141.25
MRZ Mont Royal Resources -4 6 -17 6 0.25 $ 9,090,411.60
IPT Impact Minerals -4 -4 -46 -50 0.0125 $ 26,309,333.95
BNZ Benzmining -4 -13 -22 0.75 $ 28,811,299.86
CLA Celsius Resource Ltd -4 -24 -43 39 0.025 $ 27,227,930.11
RED Red 5 Limited -4 1 -19 -33 0.1825 $ 435,866,159.76
SKY SKY Metals Ltd -4 -3 -45 -23 0.096 $ 27,981,100.35
OBM Ora Banda Mining Ltd -4 -25 -56 -65 0.12 $ 116,848,140.60
WCN White Cliff Min Ltd -4 -8 -37 9 0.012 $ 6,206,356.79
STN Saturn Metals -4 2 29 -42 0.465 $ 50,676,529.50
GBZ GBM Rsources Ltd -4 -23 -4 -28 0.115 $ 50,053,310.93
EMR Emerald Res NL -4 -8 10 25 0.8 $ 417,471,737.67
DTR Dateline Resources -4 -14 20 20 0.09 $ 39,105,857.97
PRS Prospech Limited -4 -31 -44 0 0.09 $ 5,201,647.12
NVA Nova Minerals Ltd -4 -4 -24 96 0.11 $ 193,308,864.41
DTM Dart Mining NL -4 -19 -31 -48 0.11 $ 10,994,002.36
FFX Firefinch Ltd -4 36 118 263 0.545 $ 519,542,144.22
SLR Silver Lake Resource -4 -26 -6 -43 1.2925 $ 1,172,946,778.90
AZS Azure Minerals -5 -16 -37 27 0.21 $ 66,485,680.02
TMZ Thomson Res Ltd -5 -13 -30 200 0.105 $ 48,685,563.57
VAN Vango Mining Ltd -5 -10 3 -44 0.062 $ 71,445,946.07
KAU Kaiser Reef -5 -21 -53 -36 0.205 $ 19,845,712.57
MOH Moho Resources -5 -12 -23 -53 0.061 $ 6,712,901.13
MDI Middle Island Res -5 -17 -61 -78 0.1 $ 12,119,403.98
RML Resolution Minerals -5 -26 -33 -71 0.02 $ 8,953,592.28
AGG AngloGold Ashanti -5 -14 -16 -43 4.6 $ 429,089,349.65
PUA Peak Minerals Ltd -5 -5 -32 -32 0.019 $ 11,679,350.39
PNR Pantoro Limited -5 -12 -5 -22 0.19 $ 267,709,752.62
OAU Ora Gold Limited -5 -14 -10 6 0.019 $ 15,999,809.22
VRC Volt Resources Ltd -5 -19 68 58 0.0285 $ 68,321,444.38
SBM St Barbara Limited -5 -18 -24 -55 1.5325 $ 1,132,998,062.40
HRN Horizon Gold Ltd -6 -15 -28 -25 0.34 $ 36,275,285.44
YRL Yandal Resources -6 -4 28 96 0.51 $ 53,233,175.09
DEX Duke Exploration -6 -24 -26 0.25 $ 23,905,955.28
AMI Aurelia Metals Ltd -6 -27 -13 -40 0.33 $ 425,985,256.88
TBR Tribune Res Ltd -6 4 4 -39 5.18 $ 283,327,615.80
BC8 Black Cat Syndicate -6 -3 -21 -33 0.535 $ 75,332,178.89
GRL Godolphin Resources -6 -19 -37 -33 0.145 $ 12,196,134.30
KCN Kingsgate Consolid. -6 -15 -28 14 0.725 $ 164,013,806.50
TBA Tombola Gold Ltd -7 5 -37 -14 0.042 $ 23,834,718.50
CHN Chalice Mining Ltd -7 -7 46 308 6.28 $ 2,276,451,261.00
TSO Tesoro Resources Ltd -7 -40 -50 -45 0.1025 $ 52,605,721.25
AGS Alliance Resources -7 -16 -25 -30 0.135 $ 28,082,313.09
PNM Pacific Nickel Mines -7 4 -5 23 0.054 $ 11,604,331.94
SAU Southern Gold -7 -10 -32 -57 0.065 $ 13,866,369.14
THR Thor Mining PLC -7 -19 -13 18 0.013 $ 7,323,295.08
GSM Golden State Mining -7 -14 -14 -62 0.125 $ 10,757,286.54
TNR Torian Resources Ltd -7 -4 -43 67 0.025 $ 22,604,065.95
IVR Investigator Res Ltd -8 -12 -31 5 0.061 $ 84,732,582.85
FAU First Au Ltd -8 0 -40 -33 0.012 $ 7,375,545.05
GED Golden Deeps -8 0 0 -25 0.012 $ 9,310,217.28
M24 Mamba Exploration -8 -10 -27 0.18 $ 6,660,000.00
NMR Native Mineral Res -8 -6 -11 0.235 $ 6,771,172.50
BGL Bellevue Gold Ltd -8 -7 20 -18 0.87 $ 777,270,467.48
G50 Gold50Limited -8 0.23 $ 11,824,730.24
SMI Santana Minerals Ltd -8 5 -26 -45 0.115 $ 13,113,753.14
HRZ Horizon -8 -8 10 -27 0.11 $ 62,477,272.00
DCN Dacian Gold Ltd -8 -23 -43 -38 0.22 $ 217,671,750.90
MAT Matsa Resources -8 -28 -44 -68 0.055 $ 19,340,349.48
RXL Rox Resources -8 -5 -30 -57 0.38 $ 59,102,855.25
BDC Bardoc Gold Ltd -8 -2 -16 -21 0.065 $ 114,526,986.82
NES Nelson Resources. -9 -17 -49 -40 0.043 $ 8,548,856.58
KWR Kingwest Resources -9 -26 -59 -60 0.063 $ 13,121,463.03
TIE Tietto Minerals -9 -11 -16 -46 0.31 $ 145,979,345.92
GNM Great Northern -9 -9 -23 -62 0.01 $ 13,299,560.74
SVL Silver Mines Limited -9 -18 -13 -22 0.2 $ 248,886,938.54
KCC Kincora Copper -9 -18 0.2 $ 14,917,841.40
LCL Los Cerros Limited -9 -17 4 65 0.145 $ 91,942,184.10
ALK Alkane Resources Ltd -9 -18 30 -17 0.9375 $ 580,504,080.00
IDA Indiana Resources -10 -15 -18 40 0.056 $ 24,329,029.76
TRN Torrens Mining -10 -18 9 0.185 $ 12,619,763.53
ADT Adriatic Metals -10 8 22 6 2.68 $ 509,072,080.56
MCT Metalicity Limited -10 -31 -36 -69 0.009 $ 19,293,943.79
CTO Citigold Corp Ltd -10 -25 -18 -36 0.009 $ 28,336,590.91
TLM Talisman Mining -10 0 88 38 0.18 $ 33,593,109.30
GBR Greatbould Resources -10 -10 92 56 0.079 $ 27,711,141.12
KSN Kingston Resources -10 -15 -23 -39 0.175 $ 50,077,047.48
AGC AGC Ltd -10 -19 -19 0.13 $ 9,143,183.34
AGC AGC Ltd -10 -19 -19 0.13 $ 9,143,183.34
BBX BBX Minerals Ltd -11 -11 -28 -5 0.21 $ 103,054,831.88
EMU EMU NL -11 -24 -55 14 0.025 $ 11,869,376.58
RSG Resolute Mining -11 -26 -27 -59 0.45 $ 513,310,108.29
ASO Aston Minerals Ltd -11 -17 275 167 0.12 $ 114,503,691.48
SBR Sabre Resources -11 0 -43 -20 0.004 $ 6,732,254.60
OKR Okapi Resources -12 21 103 74 0.375 $ 20,539,222.94
GMN Gold Mountain Ltd -12 -15 -43 -49 0.022 $ 23,543,281.74
BYH Bryah Resources Ltd -12 -12 -12 4 0.051 $ 11,230,565.93
MEI Meteoric Resources -13 -29 -45 -31 0.035 $ 46,700,203.87
TSC Twenty Seven Co. Ltd -13 -13 -50 -36 0.0035 $ 9,312,848.67
CY5 Cygnus Gold Limited -14 -4 -29 -36 0.125 $ 14,094,612.74
PDI Predictive Disc Ltd -14 -7 112 56 0.125 $ 182,453,897.66
BRV Big River Gold Ltd -14 -24 -6 -48 0.31 $ 67,992,517.93
AAJ Aruma Resources Ltd -15 15 -8 -43 0.069 $ 7,205,343.04
TAR Taruga Minerals -15 -4 -2 -28 0.046 $ 25,090,940.29
NWM Norwest Minerals -15 -15 -12 -37 0.069 $ 12,642,509.25
MTC Metalstech Ltd -15 -17 22 -11 0.195 $ 31,735,527.60
GSN Great Southern -16 -4 -38 -63 0.048 $ 25,283,021.00
RVR Red River Resources -16 -28 -33 7 0.155 $ 82,843,898.72
LEX Lefroy Exploration -17 -51 88 26 0.385 $ 46,887,620.13
AXE Archer Materials -18 42 122 278 1.775 $ 464,521,353.84
ADV Ardiden Ltd -20 33 -33 -25 0.012 $ 25,792,250.59
MEG Megado -20 -17 -50 0.1 $ 4,304,879.80
ONX Orminexltd -20 -11 0 -18 0.04 $ 19,724,202.86
BAT Battery Minerals Ltd -20 -29 -63 26 0.012 $ 25,233,930.40
HWK Hawkstone Mng Ltd -20 39 -3 86 0.039 $ 66,934,182.78
EM2 Eagle Mountain -22 -22 87 191 0.655 $ 130,863,136.04
GWR GWR Group Ltd -25 -46 -25 203 0.21 $ 72,668,746.32
ARN Aldoro Resources -28 11 65 287 0.445 $ 36,026,033.66

WEEKLY SMALL CAP STANDOUTS

Nexus Minerals (ASX:NXM)

Three holes drilled at the ‘Crusader’ prospect – part of the ‘Wallbrook’ project in WA – have pulled up more thick, high grade gold.

Highlights including 14m at 8.80g/t (within 19m at 6.57g/t from 141m) follow on from previously announced hits like 10m at 6.42g/t (within 17m at 3.97g/t from 182m).

$26m market cap Nexus has now hit Crusader mineralisation over +600m of strike and down to +500m deep.

“These high-grade results from the Crusader prospect have again shown excellent continuity of mineralisation with broad, high-grade gold intersected,” managing director Andy Tudor says.

“With highly encouraging results from the first 11 holes in this drilling campaign, we are eagerly awaiting the results from the further 8 holes drilled (including diamond tails) in the current exploration program at Crusader.”

If current drilling at the adjacent ‘Templar’ prospect returns the goods then this gold-rich corridor will be 1.6km long.

“The diamond drilling currently underway at Templar is delivering some very interesting core, increasing our confidence in the Crusader/Templar 1.6km+ corridor with every drillhole,” Tudor says.

 

Iceni Gold (ASX:ICL)

The gold explorer has raised $2m from an “unrelated sophisticated investor” at 22.5c per share – a slight premium to the current share price.

This mystery investor will own about 4.5% of the shares on issue, Iceni says.

The explorer, which only listed on the ASX in April, say the funds raised will ensure that the company’s planned exploration program at the flagship 14 Mile Well project “will not be impeded”.

“As previously announced, the company has completed its initial diamond drilling campaign at the Deep Well Target and is currently undertaking its initial drilling campaign at the TOTK Target,” Iceni says.

“Drilling to date has identified significant hydrothermal alteration associated with existing gold anomalism and the company considers that this drilling justifies a more extensive drilling program than was initially planned.

“Funds raised under the placement will be applied toward further diamond drilling at the Deep Well and TOTK Target areas as well as to undertake a detailed seismic survey along the 35km long Danjo Batholith to build on the exploration work undertaken on the 14 Mile Well project to date.”

The post Gold about to hit next leg of bull market and stocks are cheap, expert says appeared first on Stockhead.

Articles

BPM finds two walk-up drill targets at its Claw gold project

Special Report: BPM Minerals has won the historical data lottery after identifying two walk-up drill targets at its Claw Gold … Read More
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BPM Minerals has won the historical data lottery after identifying two walk-up drill targets at its Claw Gold Project in WA.

The company found the Lewi and Chickie anomalies by reviewing all the available open file data sets from exploration drilling completed by Reynolds Australia Metals more than 30 years ago.

The historical data included 138 air core and rotary air blast holes for a total of 3,882m targeting the same structure that hosts Capricorn Metals’ (ASX:CMM) Mount Gibson gold project.

“It is rare for a junior exploration company to acquire such highly prospective ground directly along-strike from a 2-million-ounce gold project,” BPM Minerals (ASX:BPM). CEO Chris Swallow said.

“Perhaps even rarer is to find walk-up RC drill targets from an initial data review.

“We have signed a contract for an aeromagnetic survey to be completed later this year.”

Chickie and Lewi anomalies

Key intercepts from the historic drilling at the Chickie anomaly include:

  • 11m at 0.1 parts per million gold (46-57m) including 1m at 0.54 parts per million gold (48-49m);
  • 1m at 0.24 parts per million gold (72-73m EoH); and
  • 10m at 0.17 parts per million gold (50-60m EoH).

At the Lewi anomaly, several anomalous values up to 90 parts per billion gold were reported within the weathering profile.

And the fresh rock – the potential primary source of mineralisation – was never tested below the regolith anomaly.

Plus, the Lewi anomaly is less than 1km from the Mount Gibson project.

Pic: The Claw gold project, with newly identified gold anomalies overlain prospective geology.

Rare exploration opportunity

The company is confident that the Claw project presents a rare exploration opportunity to cover the interpreted southern extension of the Mount Gibson shear zone.

Particularly since 80% of the tenement area regolith is covered and the project is largely unexplored.

The upcoming aeromagnetic survey is planned for Q4 once the Claw tenement has been granted in the coming weeks.

The company will then conduct an RC drilling program of around 3,000m, targeting primary gold mineralisation in the fresh rock.

 


 

 

This article was developed in collaboration with BPM Minerals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post BPM finds two walk-up drill targets at its Claw gold project appeared first on Stockhead.

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Precious Metals

Metalstech encounters visible gold at Sturec drilling

 
The drill program on its fully owned Sturec gold project in Slovakia is now in full swing and although it is too early to expect assay results, Metalstech…

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The drill program on its fully owned Sturec gold project in Slovakia is now in full swing and although it is too early to expect assay results, Metalstech (MTC.AX) already provided a quick interim update after the drill bit intersected visible gold in hole 17. This hole is an infill drill hole meant to follow up on hole 14 where Metalstech encountered 10 meters of almost 17 g/t gold within a broader interval of 43 meters of 4.88 g/t gold and 11.8 g/t silver.

Hole 17 is an underground drill hole, drilled from Drill Chamber 2, and the hole is located close to the pit outline used in the 2021 mineral resource update As you can see on the image above, the location of hole 17 is important as it will basically be able to validate the findings in hole 10, 13, 14 and perhaps even hole 5 which ended at the bottom of the pit outline.

We will obviously have to wait for the official assay results from the lab which could be expected in a few weeks.


Disclosure: The author currently has no position in Metalstech. Metalstech is a sponsor of the website. Please read our disclaimer.

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Economics

How Evergrande the parent hurt Evergrande New Energy

One thing that has recently caught my eye has been the unravelling of China Evergrande Group – a conglomerate with over 100,000 employees spanning primarily…

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One thing that has recently caught my eye has been the unravelling of China Evergrande Group – a conglomerate with over 100,000 employees spanning primarily real estate development but also new energy, property services and health amongst other industries.

Keen market observers would be aware of the Chinese government’s recent crackdown on various industries. Most headlines have been focused around the tech giants and the for-profit education sector, but has also involved online gaming companies (gaming restrictions), the steel industry (push for decarbonisation) and most recently Macau casinos. It has also maintained its tightening bias toward the property sector, which has further dampened the prospects for rebar steel, and by extension iron ore.

Property cycles are nothing new in China, with development and prices waxing and waning based on policy and availability of credit and partially responsible for cyclical price movements in iron ore. The most recent slowdown however seems to have hit the highly indebted Evergrande extremely hard, as unravelling confidence in its ability to repay its lenders (split between onshore and offshore) has sparked a sell-off in both its bonds (now trading at 30 cents on the dollar) while the company’s equity value, which peaked at a market capitalisation of over US$50 billionn and was as high as US$47 billion in June last year is now just US$4.4 billion.

One of the more interesting subplots has been the fate of its New Energy Vehicle group, a listed subsidiary in which the China Evergrande parent owns 65 per cent. Early in the Evergrande Saga, the Group proposed selling a stake in its new energy vehicles (NEV) subsidiary as one way to reduce its debt load. In January 2021, the group sold a ~11 per cent stake in the subsidiary to six investors, valuing the business at ~US$34 billion. Amazingly, this transaction – along with the hype surrounding the potential EV market in China and the company showcasing 6 new cars – triggered a furious rally which saw the share price rise 140 per cent in under 3 weeks, while its market cap peaked at US$85 billion despite not selling a single car (shades of Nikola in the US, albeit the NEV subsidiary also holds Evergrande’s legacy assets in the healthcare space and was formerly known as Evergrande Health Industry Group).

China Evergrande New Energy Market capitalisation

Screen Shot 2021-09-17 at 2.48.49 pm

Source: Bloomberg

As concerns around its parent deepened, “investors” became concerned around the potential fate of its subsidiary with the Parent’s 6.35 billion NEV shares seen as a potential source of liquidity. This has seen a stunning collapse in Evergrande NEV’s market cap by ~US$80 billion since mid-April and has also caused liquidity issues in the NEV arm which just reported losses of more than US$742 million.

A good reminder to pay heed of any potential contagion and ripple effects, albeit most are hidden and only discovered after the fact (as well as the obvious lessons on the highs and lows of “investing” in pockets of extreme exuberance).

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