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

Articles

Monsters of Rock: IG’s top two miners to watch this week

Whitehaven Coal (ASX:WHC) and Northern Star Resources (ASX:NST) are two large cap miners worth keeping an eye on in the … Read More
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Whitehaven Coal (ASX:WHC) and Northern Star Resources (ASX:NST) are two large cap miners worth keeping an eye on in the week ahead, according to trading platform IG Markets.

Despite general concerns about global growth and subsequent drop in global bond yields, gold prices fell throughout last week.

The drop in the value of the yellow metal weighed on Aussie gold miners like Northern Star.

Northern Star’s share prices fell to two-year lows as investors reduced exposure to gold-mining stocks, to close below what was price support at roughly $8.80 per share.

“The technicals look quite poor for the stock now, with the trend and price momentum skewed to the downside,” IG analyst Kyle Rodda says.

“The next major level of long-term price support looks to currently sit at around $7.65 per share.”

The stock was down another 1.15% in Monday trade.

 

At the other end of the spectrum was Whitehaven Coal, which surged last week.

Global coal prices jumped to a record high as energy demands spikes on what is an unfolding and worsening energy shortage globally.

“Whitehaven shares look to be forming a primary uptrend now, with the weekly RSI showing a stock that is technically overbought, but that that is not signalling yet a meaningful slowdown in momentum,” Rodda says.

“WHC shares probably remain highly tied to the budding energy crisis now and any further upside in coal prices, and in the short-term, risk-reward appears skewed to the downside given the stock’s overbought technicals.

“A re-test of previous price resistance now support at around $2.50 may indicate whether the stock’s longer term uptrend remains in play.”

WHC was down 2.5% in late arvo trade.


 

Iron ore miners up as Materials ekes out small gain

Pic: CommSec

The ASX 200 Materials index was up ~0.15% at close of play Monday, dragged higher by the major iron ore miners BHP (ASX:BHP), Rio Tinto (ASX:RIO), FMG (ASX:FMG) and Mineral Resources (ASX:MIN).

The benchmark iron ore price – down 30% year-to-date – has staged a small comeback to ~$US110/t since going into the low 90’s on September 21.

In the mid cap space, +$1bn market cap lithium hopeful AVZ Minerals (ASX:AVZ) led the winners after securing a “cornerstone investor” for its Manono development in the DRC.

Private Chinese company CATH will pay US$240 million cash for an initial 24% equity stake in the project.

“Proceeds from the transaction will fund a majority of the total project financing required, whilst AVZ will retain a controlling 51% interest in the Manono Project post-completion of the transaction and its position as lead developer of the Manono Project,” the company says.

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This ASX-listed iron ore developer is well placed to benefit from the shift to high grade ore

Special Report: All eyes have been on the price of iron ore in recent days as volatility in the iron … Read More
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All eyes have been on the price of iron ore in recent days as volatility in the iron ore price has had a big impact on markets.

But while that is where the focus is in the here and now, there remains a story bubbling under the surface about where iron ore is headed in the future.

Increasingly, iron ore experts believe grade will be an important factor for steel mills, as efforts to curb emissions and pollution from steelmaking take centre stage.

Take this comment for instance from Fastmarkets index manager Peter Hannah, who observes iron ore markets for one of the two major price-reporting agencies.

“To succeed in decarbonizing the global steelmaking industry there needs to be a greater recognition of how much the iron ore supply base needs to change,” he wrote recently.

“Vast volumes of existing production will need to be replaced by higher-grade supply, first to meaningfully reduce CO2 emissions from the prevailing BF/BOF (blast furnace) technology, and later to meet the demands of a DRI (direct reduced iron) sector at least an order of magnitude larger than it is today.”

The gap for discounts and premiums in iron ore have soared in recent years. Pic: Supplied

 

As Magnetite Mines (ASX:MGT) showed in a presentation released on Friday, it is one of a handful of iron ore hopefuls able to capitalise on this growing thematic.

Its Razorback mine in South Australia is now in the Definitive Feasibility Study stage leading to decision to mine, planning to start operations around the end of 2024. It would produce a 68% iron magnetite concentrate.

That is well above any commonly quoted indices like the 65% Brazilian index, which already generates an substantial premium compared to the commonly quoted benchmark 62% fines price.

While the 62% iron ore index – used by most of the Pilbara iron ore miners such as BHP –  was fetching US$108.67/t on Friday morning, 65% iron ore demanded US$134.60/t.

In the long run over the past decade the gap between discounted 58% iron ore, 62% product and premium product has trended wider and wider.

“Steelmakers need to adopt best practices that prioritise decarbonisation with existing assets. Some of these best practices include installation of energy efficient technology, optimisation of the blast furnace (BF) burden (e.g. with high- grade ore),” CRU Group says.

 

Razorback a logistical dream

While grade is one aspect of Razorback’s allure, it is not the only reason Magnetite Mines has been so keen to push ahead with a definitive feasibility study after releasing a successful PFS in July.

The mine, which has a resource of 4.2Bt of iron ore, stands to be a logistical dream. Located just 240km northeast of Adelaide, it has access to rail and high voltage powerlines that connect it to the Australian electricity grid.

That is significant from an ESG perspective as well because of South Australia’s high penetration of wind power and other renewables, which met around 60% of the State’s electricity needs last year.

Being in the vicinity of the town of Yunta, Razorback will have a 50km purpose built private all weather haul road and rail siding with access to an existing heavy freight network and iron ore port at Whyalla.

From a mining perspective it is also technically simple. Ore can be mined from surface, saving costs on pre-stripping with a low PFS strip ratio of 0.16:1 and the potential to improve grades with selective mining and or ore sorting.

Razorback is close to key infrastructure like power, rail and ports. Pic: Magnetite Mines

 

Low cash costs underpin long-life operation

Once built, the project is highly competitive.  As reported in Magnetite’s pre-feasibility study in July, the project is expected to generate cash when the 62% iron ore price is above  US$54/t (including the appropriate quality adjustment).  That would still be half the iron ore price on Friday, after the contraction seen in the benchmark 62% fines price in recent weeks.

At US$110/t, around the long-term average iron ore price over the past 10 years, Razorback would carry a post-tax NPV of $700 million and IRR of 20%, generating around $144 million a year in net cash flow after taxes and royalties.

At a production rate of 2.7Mtpa, the project would pay back its estimated $675m capex in 4.6 years, leaving two decades of reserves still to go.

If we were to see another bull run to US$150/t – and remember, at a 68% grade, Razorback’s concentrate would earn a premium on that – that would increase to an NPV of $1.67 billion, with an IRR of 33% and average net cashflow of $241m, something that would see Magnetite pay back its initial investment in just over 2 years.

Key results from the Razorback PFS. Pic: Magnetite Mines

 

DFS activities under way with appointment

Magnetite Mines this week appointed engineering and professional services company GHD to deliver its critical power supply and non-process infrastructure elements of the Razorback DFS, effectively kickstarting the process.

It will build on the power supply option selected from the DFS of installing a 132KV transmission line connecting to the national grid at Robertstown.

“GHD’s appointment is an important milestone for Magnetite Mines as it represents the commencement of the DFS and continues our commitment to delivering a well planned and high quality study for our shareholders,” Magnetite Mines executive chairman Peter Schubert said last week.

The DFS well underway and currently expected to be completed next year, with a decision to mine looking to be at the end of next year.  Project financing and permitting will take place in parallel.  The current schedule sees Razorback in production around the end of 2024, well placed to benefit from a stronger ESG focus in the mining and steel industries.

On the approval side of the ledger, work is well underway. South Australia is a predictable, stable and low risk mining jurisdiction and there is regular consultation between Magnetite and the State Government.

Baseline environmental studies are also well progressed, while the important consultation process with the people of the Ngadjuri Nation, the region’s traditional owners has started, reflecting the company’s acknowledgement of and respect for the traditional owners of the country.

Magnetite Mines is on track with its proposed development timeline. Pic: Magnetite Mines

 

Braemar district fertile for further development

While Magnetite has unlocked an impressive 5.7bt of resources across its Razorback (4.2Bt) and Muster Dam (1.5Bt) projects, that does not tell the full story of just how fertile the Braemar region is for iron ore discoveries and developments.

Of that bounty just 473Mt is included in the Razorback PFS reserve.

That factors in just 8% of Magnetite’s resource, 4% of the Braemar region’s kilometres long strike length and 0.3% of Magnetite’s tenured area.

That suggests Magnetite should have room to grow and expand beyond its initial 25-year project should the numbers stack up.

Its long life and plentiful resource and reserve base should be attractive to lenders, with Magnetite targeting early engagement to allow a collaborative approach to risk mitigation and achieve financial close by the fourth quarter of 2022.

Debt funding is likely to be complemented by a conventional equity raising or other options for equity funding.

Magnetite has $15.3m in the bank to progress its all important DFS, and a market cap of $69m as of September 21.

MGT stock is around 170% up over the past 12 months despite a dip after PFS release, but it has caught some tailwinds in recent days as investors responded well to news about its DFS preparations, rising by almost 29% from 2.1c a share to 2.7c a share over its past three trading days.

This article was developed in collaboration with Magnetite Mines, 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.

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ASX Small Cap Lunch Wrap: Who’s outperforming Warren Buffett today?

A hamster in the US has a portfolio up by around 20% since June, outpacing the S&P500 and Warren Buffett’s … Read More
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Ever wished you were as rich as Warren Buffett?

Or perhaps more accurately; sometimes feel like you’re just a hamster running on a wheel?

Some enterprising crypto investors have made that idea work for them, with a unique hamster-based investment strategy.

According to reports, the hamster — Mr Goxx — dutifully runs on his wheel and in doing so, also selects from a range of different cryptocurrencies.

The wheel is uniquely designed for Mr Goxx to choose one of two tunnels, which indicate buy or sell.

And apparently his portfolio is up by around 20% since June, outpacing the S&P500 and Warren Buffett’s Berkshire Hathaway.

So if your fundamental analysis of ASX small caps isn’t bringing returns, there are options…

Elsewhere, the idyllic, resource-rich locale of Perth, Western Australia, has been run over by some rampant demons following Melbourne’s AFL Grand Final victory on Saturday night.

208cm ruckman Max Gawn stayed in game-shape following the financial siren, taking hangers while still dressed in his match guernsey:

On markets, ASX futures markets suggested the local index was going to edge higher (maybe) before the opening bell, but local stocks have beaten expectations as upbeat sentiment permeates through Monday trade.

Just after 12pm EST the ASX 200 was on track for a gain of around 1%, with steady demand across all the major sectors.

Energy stocks kept the ball rolling after last week’s big rally, and the ASX 200 Energy index has now climbed by an impressive 10.6% since last Monday’s selloff.

Brent crude oil is trading at three-year highs above US$78 a barrel, as consensus around a global energy supply crunch continues to build.

Along with the ASX, positive sentiment extended across Asian markets with steady gains across the other major indexes including the Hang Seng (home of Evergrande) which rose by more than 1%.
 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for Monday September 27 [intraday]:

Stocks highlighted in yellow made market-moving announcements.

Code Name Price % Change Volume Market Cap
NTL New Talisman Gold 0.002 100.0% 1,184,051 $2,792,225
ANL Amani Gold Ltd 0.0015 50.0% 3,911,521 $14,205,197
RRR Revolverresources 0.43 38.7% 2,941,576 $25,380,460
RBX Resource B 0.28 36.6% 5,717,568 $6,959,255
DDD 3D Resources Limited 0.004 33.3% 125,305 $11,641,116
OAK Oakridge 0.002 33.3% 1,080,116 $5,158,939
ARR American Rare Earths 0.22 22.2% 4,175,115 $62,065,499
ARU Arafura Resource Ltd 0.235 20.5% 21,478,573 $302,239,730
AO1 Assetowl Limited 0.006 20.0% 155,000 $4,081,026
RBR RBR Group Ltd 0.006 20.0% 1,030,125 $6,409,900
AJL AJ Lucas Group 0.038 18.8% 966,220 $38,281,172
POW Protean Energy Ltd 0.013 18.2% 1,476,795 $7,156,743
IMC Immuron Limited 0.165 17.9% 937,744 $31,814,523
IXC Invex Therapeutics 0.8 17.6% 237,582 $51,104,617
LEL Lithenergy 0.695 16.8% 3,327,351 $26,775,000
GGX Gas2Grid Limited 0.0035 16.7% 2,054,000 $12,138,306
PEB Pacific Edge 1.52 16.0% 139,756 $955,265,080
POL Polymetals Resources 0.145 16.0% 31,562 $4,852,907
TBA Tombola Gold Ltd 0.044 15.8% 1,546,928 $24,103,240
OZM Ozaurum Resources 0.15 15.4% 292,127 $7,438,080
HWK Hawkstone Mng Ltd 0.046 15.0% 22,265,624 $68,793,777
BMR Ballymore Resources 0.25 14.0% 20,000 $15,725,178
AVL Aust Vanadium Ltd 0.025 14.0% 5,913,983 $72,178,161

 

Recent ASX debutante Resource Base (ASX:RBX) is getting into the rare earths game, where a number of other ASX juniors are running hot.

The company announced that its snapped up 1,380sqkm of ground in the Murray Basin, which is prospective for ionic clay hosted Rare Earth Elements (REE).

Elsewhere among stocks with news, biopharmaceutical company Invex Therapeutics (ASX:IXC) jumped by around 20% after announcing a long-term Collaboration and Manufacturing Agreement with Peptron Inc — a company listed on the Korean Stock Exchange.

The deal will see Peptron use Presendin — IXC’s treatment for neurological conditions relating to raised intracranial pressure — in clinical trials and for commercial use, once Presendin is approved.

The agreement is “exclusive, applies globally and provides a defined price per dose for the supply of Presendin for clinical studies, and for the first ten years following the first commercial sale,” IXC said.

Get the wrap of the rest of today’s resources winners here.
 

ASX SMALL CAP LOSERS

Here are the best performing ASX small cap stocks for Monday September 27 [intraday]:

Stocks highlighted in yellow made market-moving announcements.

Code Name Price % Change Volume Market Cap
AJY Asaplus Resources 0.04 -33.3% 20,000 $8,160,000
ACB A-Cap Energy Ltd 0.085 -26.1% 2,448,518 $100,266,760
NPM Newpeak Metals 0.0015 -25.0% 992,527 $13,654,870
BDC Bardoc Gold Ltd 0.045 -21.1% 28,783,076 $98,909,670
EN1 Engage:Bdr Limited 0.004 -20.0% 1,999,249 $12,764,763
YPB YPB Group Ltd 0.002 -20.0% 100,000 $12,479,551
AEE Aura Energy 0.21 -17.6% 2,317,954 $101,784,941
SCN Scorpion Minerals 0.052 -14.8% 108,000 $15,800,903
CUL Cullen Resources 0.018 -14.3% 1,368,921 $7,852,271
EVE EVE Investments Ltd 0.0035 -12.5% 2,082,615 $15,372,568
TOE Toro Energy Limited 0.029 -12.1% 37,032,041 $128,612,292
OZZ OZZ Resources 0.19 -11.6% 212,469 $5,795,674
WFL Wellfully Limited 0.155 -11.4% 915,577 $36,718,582
VMY Vimy Resources Ltd 0.1775 -11.3% 4,532,779 $210,299,732
EL8 Elevate Uranium Ltd 0.56 -11.1% 777,573 $143,780,897
RD1 Registry Direct 0.033 -10.8% 184,545 $13,037,813
AGE Alligator Energy 0.068 -10.5% 42,201,863 $212,357,592
LME Limeade Inc. 0.71 -10.1% 17,193 $197,294,227
AGR Aguia Res Ltd 0.046 -9.8% 98,089 $17,031,064
PEN Peninsula Energy Ltd 0.23 -10.0% 6,774,820 $253,984,637
BBX BBX Minerals Ltd 0.19 -10.0% 365,091 $96,184,510
AMO Ambertech Limited 0.29 -9.0% 208,389 $24,622,932
COD Coda Minerals Ltd 0.79 -9.0% 69,456 $79,566,922

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