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Gold Digger: Northern Star’s share price down 30pc for FY21, despite posting +$1bn profit

Gold bugs would be breathing a sigh of relief this week as the price stabilises just shy of $US1,800/oz ($2,463/oz … Read More
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This article was originally published by Stockhead

Gold bugs would be breathing a sigh of relief this week as the price stabilises just shy of $US1,800/oz ($2,463/oz Aussie) thanks to Monday’s healthy 1.5% gain.

While there are plenty of other red hot sectors attracting investor dollars right now, the gold price itself has actually remained reasonably steady since mid-June — chaotic flash crash aside.

USD gold price over the past 2 years.

Its reporting season, so we know prices over the past year like this —  — mean healthy profits for ASX listed miners. For investors, the dividends are flowing.

Africa gold miner Perseus Mining (ASX:PRU) saw a 48% rise in net profit after tax (NPAT) to $139.4 million in FY2021 and 11% increase in EBITDA to $303.1m.

It will see Perseus, which operates the Yaoure, Sissingue and Edikan gold mines, pay a maiden dividend of 1.5c per share to shareholders.

WA gold miner Ramelius Resources (ASX:RMS) reported a record profit for FY21 of $126.8m and will pay a full franked 2.5c per share dividend.

And after almost a year as a merged entity with Saracen, Northern Star (ASX:NST) is on the way to a 2Mozpa production profile, a level that could see it challenge Newcrest (ASX:NCM) to the title of Australia’s biggest gold digger by 2026.

Northern Star sold ~1.6Moz of gold in 2020-21 at a record average price of $2277/oz, with prices having risen to record levels early in the financial year.

That generated a statutory NPAT of $1.03 billion.

They weren’t all winners — Gwalia gold mine owner St Barbara (ASX:SBM) ate a statutory loss of $177m after a 26% drop in underlying profit from $108m in FY20 to $81m in FY21.

It will still pay a 2c per share dividend.

Despite their solid FY21 results, the Ramelius and Northern Star share prices are down 21% and 30% respectively over the past 12 months.

Perseus notched up a small 7% gain.

It’s hard to argue with those experts who reckon gold stocks are cheap right now.

 

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 [INTRADAY FRI] MARKET CAP
NCM Newcrest Mining -4 -5 0 -22 24.58 $ 19,958,214,278.64
NST Northern Star 0 -6 -8 -30 9.38 $ 10,990,539,824.00
EVN Evolution Mining -2 -6 -6 -28 3.94 $ 7,133,313,171.30
CHN Chalice Mining 1 -5 41 333 6.5 $ 2,368,215,187.80
RRL Regis Resources 2 0 -17 -52 2.5 $ 1,862,894,258.94
PRU Perseus Mining 1 -7 26 7 1.4675 $ 1,803,645,267.90
DEG De Grey Mining 3 5 29 34 1.19 $ 1,492,741,705.46
RMS Ramelius Resources 2 -5 22 -21 1.56 $ 1,241,497,147.25
SLR Silver Lake Resource 3 -8 -6 -35 1.37 $ 1,190,762,809.61
GOR Gold Road Res 1 -2 3 -20 1.2525 $ 1,101,100,797.50
SBM St Barbara Limited -1 -11 -24 -52 1.58 $ 1,086,970,016.12
WAF West African Res -2 -9 25 14 1.0075 $ 909,904,176.39
BGL Bellevue Gold 7 3 34 -3 0.965 $ 815,919,275.25
CMM Capricorn Metals 6 20 47 13 2.21 $ 802,905,843.94
WGX Westgold Resources. -1 -4 -17 -17 1.7 $ 716,781,346.06
ALK Alkane Resources -2 -15 35 -8 0.955 $ 574,550,192.00
ADT Adriatic Metals -2 -7 26 16 2.71 $ 498,005,296.20
RSG Resolute Mining -5 -22 -31 -60 0.4425 $ 491,232,254.17
FFX Firefinch -7 29 130 324 0.53 $ 488,388,906.10
SSR SSR Mining Inc. -1 4 16 21.61 $ 467,015,912.00
RED Red 5 Limited 4 1 10 -28 0.1925 $ 447,646,326.24
AMI Aurelia Metals -1 -29 -13 -30 0.34 $ 432,158,956.25
EMR Emerald Res NL 0 -9 1 32 0.81 $ 417,471,737.67
AGG AngloGold Ashanti -3 -11 -12 -41 4.66 $ 404,111,175.45
ADN Andromeda Metals -6 3 -51 256 0.16 $ 393,768,327.36
AXE Archer Materials -16 7 76 256 1.71 $ 391,655,259.12
MAU Magnetic Resources 0 6 7 -2 1.59 $ 346,895,849.10
TBR Tribune Res -2 -8 4 -34 5.3 $ 272,309,319.63
PNR Pantoro Limited 0 -10 -7 -22 0.19 $ 267,709,752.62
SVL Silver Mines Limited -2 -11 -9 -9 0.2 $ 244,187,907.40
DGO DGO Gold Limited -5 -9 9 -6 3.06 $ 235,071,157.86
DCN Dacian Gold 9 -6 -35 -26 0.245 $ 232,183,200.96
CEL Challenger Exp 4 -2 -14 10 0.27 $ 219,272,674.66
CAI Calidus Resources 22 20 38 1 0.565 $ 199,964,173.50
CYL Catalyst Metals -1 -6 3 -24 1.9 $ 187,744,830.93
NVA Nova Minerals -7 -10 -26 124 0.1075 $ 176,499,397.94
PDI Predictive Disc -4 -19 128 86 0.13 $ 175,696,345.89
MML Medusa Mining -1 -10 -14 -9 0.81 $ 167,338,007.31
WMC Wiluna Mining Corp 6 0 -10 -14 1.045 $ 167,014,184.62
HCH Hot Chili 10 19 0 13 0.044 $ 162,247,635.52
MGV Musgrave Minerals 2 -5 2 -47 0.305 $ 159,966,884.70
KCN Kingsgate Consolid. -2 -14 -26 25 0.71 $ 159,489,287.70
AUT Auteco Minerals -1 -22 -14 -53 0.09 $ 150,046,104.24
EM2 Eagle Mountain 15 -1 54 215 0.74 $ 149,123,108.51
TIE Tietto Minerals -3 -10 -9 -43 0.31 $ 141,417,491.36
TTM Titan Minerals 0 -13 -9 -16 0.105 $ 127,656,469.71
BCN Beacon Minerals 6 3 -1 10 0.035 $ 125,423,415.08
ASO Aston Minerals 13 -7 265 246 0.135 $ 124,045,665.77
BDC Bardoc Gold 3 5 -8 -14 0.067 $ 111,056,472.06
DRE Drednought Resources 5 0 175 267 0.044 $ 109,090,072.14
AOP Apollo Consolidated -3 10 3 9 0.37 $ 107,899,618.30
SVY Stavely Minerals 0 -14 -47 -29 0.41 $ 106,994,195.32
BBX BBX Minerals -2 -4 -27 -4 0.22 $ 100,764,724.50
AZS Azure Minerals 56 43 8 109 0.335 $ 98,955,430.72
OBM Ora Banda Mining -18 -24 -60 -69 0.099 $ 92,504,777.98
LCY Legacy Iron Ore 0 -7 -36 180 0.014 $ 89,666,339.24
WWI West Wits Mining 2 -23 -21 176 0.058 $ 88,094,438.25
LCL Los Cerros Limited -7 -13 0 100 0.14 $ 85,812,705.16
MZZ Matador Mining -4 1 33 -2 0.405 $ 85,590,240.03
RVR Red River Resources 9 -15 -30 30 0.175 $ 85,432,770.56
ARV Artemis Resources 11 32 -15 -11 0.07 $ 85,339,840.27
IVR Investigator Res 2 2 -30 33 0.065 $ 84,732,582.85
TAM Tanami Gold NL -4 -1 -13 3 0.072 $ 83,431,890.27
RND Rand Mining -4 -3 -8 -27 1.455 $ 82,754,523.26
NUS Nusantara Resources 0 0 31 15 0.34 $ 79,099,187.42
BC8 Black Cat Syndicate 8 4 -13 -26 0.58 $ 76,036,217.94
CHZ Chesser Resources 0 15 -14 -9 0.15 $ 74,159,380.00
VRC Volt Resources 4 -17 93 71 0.029 $ 70,761,495.97
HWK Hawkstone Mng 3 43 0 74 0.04 $ 70,366,704.98
VAN Vango Mining -2 -4 25 -39 0.064 $ 70,346,777.66
BRV Big River Gold -4 -24 -26 -43 0.2975 $ 65,832,735.60
ARL Ardea Resources -6 -3 -13 -17 0.48 $ 65,566,254.03
HMX Hammer Metals 0 -4 -36 67 0.08 $ 65,079,569.84
ZNC Zenith Minerals 0 -22 48 100 0.2 $ 64,453,401.40
GWR GWR Group -10 -42 -23 198 0.215 $ 63,585,153.03
BRB Breaker Res NL 8 27 0 -14 0.21 $ 63,538,981.16
ICG Inca Minerals 25 30 47 117 0.125 $ 62,501,458.50
AUC Ausgold Limited -5 -3 -23 -8 0.037 $ 61,828,632.10
PUR Pursuit Minerals 3 2 7 310 0.065 $ 60,255,904.54
NML Navarre Minerals 0 -9 -38 -33 0.087 $ 59,939,604.99
HRZ Horizon -5 -11 6 -19 0.105 $ 59,637,396.00
ENR Encounter Resources 23 9 9 16 0.185 $ 58,507,456.76
RXL Rox Resources 3 -8 -25 -52 0.385 $ 58,314,817.18
OKU Oklo Resources -4 -4 -31 -58 0.115 $ 57,963,428.38
YRL Yandal Resources 3 4 36 118 0.545 $ 54,739,774.39
TSO Tesoro Resources 0 -34 -48 -38 0.105 $ 50,100,686.90
LEX Lefroy Exploration 8 -40 -32 62 0.42 $ 49,292,113.47
KAI Kairos Minerals 2 4 4 -24 0.029 $ 48,618,829.59
KZR Kalamazoo Resources -6 -5 -19 -46 0.3625 $ 47,634,409.07
KSN Kingston Resources -3 -21 -15 -38 0.17 $ 47,215,501.91
MEI Meteoric Resources -3 -29 -51 -32 0.034 $ 46,805,203.87
AAR Anglo Australian -4 -9 -19 -59 0.078 $ 46,501,980.64
TMZ Thomson Res -5 -13 -38 127 0.1 $ 45,938,346.40
GBZ GBM Rsources -9 -19 -5 -32 0.105 $ 45,864,977.24
STN Saturn Metals -10 -11 0 -51 0.405 $ 45,608,876.55
WRM White Rock Min -14 -35 -46 -51 0.3225 $ 45,589,047.04
LM8 Lunnonmetalslimited -3 -5 0.565 $ 44,811,091.26
FML Focus Minerals -2 -4 -27 -40 0.245 $ 44,773,398.43
AQI Alicanto Min 0 -18 8 -16 0.135 $ 44,397,107.24
CST Castile Resources 2 16 26 -24 0.22 $ 43,936,226.62
OKR Okapi Resources 14 19 132 105 0.44 $ 43,046,858.55
MEU Marmota Limited -7 -11 -5 -16 0.042 $ 41,646,948.67
S2R S2 Resources -7 -10 -21 -32 0.13 $ 40,935,853.27
STK Strickland Metals -3 -36 64 -10 0.038 $ 39,983,421.15
MTH Mithril Resources 0 -11 -15 -55 0.017 $ 39,953,961.70
DTR Dateline Resources 0 -22 80 80 0.09 $ 39,105,857.97
E2M E2 Metals -7 -20 -31 18 0.26 $ 39,091,535.86
MTC Metalstech 23 2 63 17 0.245 $ 38,876,021.31
AME Alto Metals Limited -4 -6 14 -2 0.0845 $ 38,722,337.30
TCG Turaco Gold Limited -15 15 92 130 0.115 $ 38,512,990.55
AWV Anova Metals 13 30 30 -30 0.026 $ 37,260,449.20
FFR Firefly Resources 4 4 7 38 0.12 $ 37,000,743.60
ARN Aldoro Resources 13 1 110 415 0.505 $ 36,971,761.08
SIH Sihayo Gold Limited 0 0 -9 -62 0.01 $ 36,854,614.13
XAM Xanadu Mines 4 -24 -38 -34 0.029 $ 36,512,094.75
NAG Nagambie Resources 9 -14 33 35 0.073 $ 36,495,061.26
ERM Emmerson Resources 6 11 13 -28 0.072 $ 34,378,455.74
HXG Hexagon Energy 7 4 -21 24 0.077 $ 34,343,064.68
KRM Kingsrose Mining -2 -16 -12 39 0.046 $ 33,580,338.19
TRY Troy Resources 0 -11 -47 -68 0.04 $ 32,512,425.24
GML Gateway Mining -6 -6 -41 -26 0.017 $ 32,361,805.20
AGS Alliance Resources 15 0 -16 -25 0.155 $ 32,242,655.77
BNZ Benzmining 1 -12 -17 0.7475 $ 31,926,034.98
MVL Marvel Gold Limited 0 0 19 12 0.057 $ 31,841,304.44
TLM Talisman Mining -6 -15 73 26 0.17 $ 31,726,825.45
CTO Citigold Corp 10 -8 -8 -8 0.011 $ 31,170,250.00
NXM Nexus Minerals 13 45 29 82 0.135 $ 30,518,958.88
HRN Horizon Gold -18 -30 -29 -42 0.28 $ 30,407,224.56
GBR Greatbould Resources 10 1 87 83 0.086 $ 30,198,038.40
ANX Anax Metals 8 15 13 252 0.086 $ 30,115,814.54
TBA Tombola Gold 23 29 -16 10 0.053 $ 29,931,972.07
MKR Manuka Resources. 7 9 -34 -50 0.305 $ 29,432,408.27
PNX PNX Metals Limited 0 -11 0 -33 0.008 $ 29,217,548.09
SKY SKY Metals -2 -7 -47 -32 0.088 $ 27,981,100.35
MKG Mako Gold -9 -9 -18 -28 0.086 $ 27,975,024.17
CLA Celsius Resource -4 -24 -51 56 0.025 $ 27,227,930.11
IPT Impact Minerals 8 0 -43 -41 0.013 $ 26,309,333.95
GSN Great Southern 5 14 -29 -56 0.0525 $ 26,294,341.84
RDN Raiden Resources -5 -19 -13 133 0.021 $ 26,221,471.42
ADV Ardiden 8 53 -19 -24 0.013 $ 25,792,250.59
TAR Taruga Minerals 2 -4 4 -24 0.05 $ 25,603,000.30
IDA Indiana Resources 0 -20 -36 40 0.056 $ 25,197,923.68
ICL Iceni Gold 14 40 0.21 $ 25,153,798.53
VMC Venus Metals Cor -3 -11 -13 -28 0.17 $ 24,927,982.70
DEX Duke Exploration 2 -10 -25 0.27 $ 24,357,011.04
CWX Carawine Resources 7 -2 -36 5 0.22 $ 23,955,778.44
GMN Gold Mountain 0 5 -43 -50 0.022 $ 23,543,281.74
VKA Viking Mines 5 5 -48 121 0.023 $ 23,488,943.91
KAU Kaiser Reef 12 -12 -48 -29 0.23 $ 23,234,004.96
PRX Prodigy Gold NL 8 0 -2 -47 0.04 $ 23,225,104.24
BAT Battery Minerals -12 -27 -62 10 0.011 $ 23,131,102.86
ONX Orminex 17 35 24 -7 0.042 $ 21,915,780.96
CGN Crater Gold Min 0 0 -19 42 0.017 $ 20,867,429.74
TNR Torian Resources -8 -4 -59 71 0.024 $ 20,865,291.65
TIN Tnt Mines Limited 0 6 3 17 0.17 $ 20,408,198.93
MAT Matsa Resources 4 -16 -39 -66 0.056 $ 20,056,658.72
GMR Golden Rim Resources -13 -22 -22 -50 0.007 $ 20,027,622.59
AAU Antilles Gold 1 7 -21 88 0.078 $ 19,686,309.86
LNY Laneway Res 25 0 -17 -38 0.005 $ 19,520,329.67
MM8 Medallion Metals. 2 -8 0.24 $ 19,432,820.64
MCT Metalicity Limited 0 -18 -25 -64 0.009 $ 19,293,943.79
SNG Siren Gold 6 17 -31 0.28 $ 18,932,841.26
A1G African Gold . 17 -2 5 37 0.205 $ 18,281,568.80
CAZ Cazaly Resources 0 -4 14 17 0.049 $ 18,108,600.08
AL8 Alderan Resource 8 15 -40 -64 0.054 $ 17,786,977.26
SI6 SI6 Metals Limited -4 -12 -48 -12 0.0115 $ 17,137,727.82
AYM Australia United Min 29 0 -10 200 0.009 $ 16,583,197.37
SPQ Superior Resources -7 -17 14 56 0.0125 $ 16,576,029.49
GUL Gullewa Limited 0 5 2 -13 0.087 $ 16,562,459.70
SRN Surefire Rescs NL -7 8 -44 27 0.014 $ 15,460,345.73
KTA Krakatoa Resources -6 4 -21 -33 0.05 $ 15,324,915.68
MHC Manhattan Corp -10 -25 -47 -76 0.009 $ 15,262,786.93
QML Qmines Limited -7 -3 0.325 $ 15,251,307.18
OAU Ora Gold Limited -5 -10 -18 0 0.018 $ 15,157,714.00
BGD Bartongoldholdings 0 -10 0.18 $ 15,021,999.30
NAE New Age Exploration 0 -15 -15 38 0.011 $ 14,998,188.56
BAR Barra Resources 10 5 0 -15 0.022 $ 14,907,378.22
AQX Alice Queen -17 -8 -61 -73 0.012 $ 14,839,039.74
GRL Godolphin Resources 17 0 -21 -15 0.17 $ 14,719,472.43
HAW Hawthorn Resources 0 -4 -45 -57 0.044 $ 14,674,686.97
GIB Gibb River Diamonds 17 19 -9 19 0.069 $ 14,594,151.71
SAU Southern Gold 3 6 -29 -48 0.067 $ 14,293,026.65
KCC Kincora Copper -7 -19 0.195 $ 14,207,468.00
PF1 Pathfinder Resources -2 -10 19 0.285 $ 14,171,394.15
CXU Cauldron Energy -6 0 -9 11 0.031 $ 14,135,984.87
CBY Canterbury Resources 5 15 -4 15 0.115 $ 13,822,830.95
RGL Riversgold 0 -5 -24 -43 0.035 $ 13,737,434.66
NWM Norwest Minerals 9 -5 1 -40 0.076 $ 13,726,152.90
NPM Newpeak Metals -25 -25 -25 -25 0.0015 $ 13,654,870.31
DDD 3D Resources Limited -13 -13 -15 -23 0.0035 $ 13,581,302.32
CY5 Cygnus Gold Limited -4 0 -29 -43 0.125 $ 13,552,512.25
KWR Kingwest Resources 3 -20 -61 -58 0.065 $ 13,538,017.42
REZ Resourc & En Grp 7 3 -26 48 0.031 $ 13,382,104.46
TRN Torrens Mining 5 -29 8 0.195 $ 13,301,912.91
EMU EMU NL 12 -9 -58 7 0.029 $ 13,238,920.04
RMX Red Mount Min 0 -10 -25 13 0.009 $ 13,180,124.72
GTR Gti Resources 17 17 0 -28 0.021 $ 12,890,359.96
DCX Discovex Res 0 -9 -29 -44 0.005 $ 12,843,320.38
BTR Brightstar Resources -13 8 -44 -10 0.027 $ 12,752,772.16
SMI Santana Minerals -9 -5 -30 -50 0.105 $ 12,543,589.96
NSM Northstaw 2 -1 -27 0.335 $ 12,400,000.00
ANL Amani Gold 0 0 -33 -50 0.001 $ 12,386,996.75
BMO Bastion Minerals 24 20 0.21 $ 12,065,394.60
MDI Middle Island Res -1 -18 -56 -75 0.098 $ 11,996,985.76
ZAG Zuleika Gold -6 -9 -36 -17 0.029 $ 11,892,707.82
SLZ Sultan Resources -3 -13 -11 -11 0.17 $ 11,820,846.13
PNM Pacific Nickel Mines 2 -19 -4 25 0.055 $ 11,819,226.98
PUA Peak Minerals 0 0 -37 -32 0.019 $ 11,679,350.39
KGM Kalnorth Gold 0 0 0 0 0.013 $ 11,625,120.78
G50 Gold50Limited -2 0.23 $ 11,573,140.23
BYH Bryah Resources 0 -14 -18 2 0.051 $ 11,230,565.93
PGD Peregrine Gold -11 -19 0.38 $ 11,057,542.10
GNM Great Northern 0 -9 -17 -52 0.01 $ 10,881,458.78
MBK Metal Bank 13 0 -18 0 0.009 $ 10,701,614.74
DTM Dart Mining NL -9 -23 -39 -50 0.1 $ 10,494,274.98
GSM Golden State Mining -8 -14 -17 -61 0.12 $ 10,343,544.75
CDT Castle Minerals 8 0 56 17 0.014 $ 10,255,011.45
MRZ Mont Royal Resources 13 20 -4 15 0.27 $ 10,226,713.05
M2R Miramar 19 23 -7 0.215 $ 10,151,229.30
RML Resolution Minerals 10 -15 -15 -67 0.022 $ 9,848,951.51
ALY Alchemy Resource 0 0 -18 -26 0.014 $ 9,411,408.34
TSC Twenty Seven Co. 0 -13 -50 -30 0.0035 $ 9,312,848.67
FG1 Flynngold 7 -11 0.16 $ 8,999,999.70
BNR Bulletin Res 0 -12 -25 -26 0.05 $ 8,964,653.70
MRR Minrex Resources -6 -16 -33 -47 0.016 $ 8,898,192.88
NES Nelson Resources. -7 -21 -63 -39 0.041 $ 8,548,856.58
GED Golden Deeps -8 -8 -8 -27 0.011 $ 8,534,365.84
MLS Metals Australia -25 -25 -25 -25 0.0015 $ 8,454,376.09
PKO Peako Limited -13 -18 4 -22 0.027 $ 8,328,260.73
XTC Xantippe Res 0 0 0 -43 0.002 $ 8,149,128.80
AGC AGC -11 -17 -29 0.12 $ 8,127,274.08
AGC AGC -11 -17 -29 0.12 $ 8,127,274.08
AAJ Aruma Resources 6 31 3 -20 0.072 $ 7,947,069.53
THR Thor Mining PLC 0 -13 -13 30 0.013 $ 7,886,625.47
G88 Golden Mile Res 6 10 10 -10 0.054 $ 7,756,008.04
RDS Redstone Resources -9 -17 -33 -41 0.01 $ 7,189,990.63
NMR Native Mineral Res 2 7 -4 0.24 $ 7,059,307.50
OZM Ozaurum Resources 4 4 -29 0.135 $ 7,022,700.00
FAU First Au -8 0 -35 -35 0.011 $ 6,760,916.29
SBR Sabre Resources 0 0 -43 -20 0.004 $ 6,732,254.60
M24 Mamba Exploration 3 -8 -25 0.18 $ 6,660,000.00
TMX Terrain Minerals 13 29 -10 -36 0.009 $ 6,621,849.08
TG1 Techgen Metals -6 -18 0.165 $ 6,549,893.45
AM7 Arcadia Minerals 0 12 0.19 $ 6,498,000.00
AWJ Auric Mining 7 4 -19 0.145 $ 6,441,266.71
CDR Codrus Minerals -3 -16 0.155 $ 6,200,000.00
MOH Moho Resources -8 -14 -25 -56 0.06 $ 6,196,524.12
DLC Delecta Limited 0 9 -8 -14 0.006 $ 6,051,727.23
PRS Prospech Limited 16 -11 -40 0 0.093 $ 6,046,914.78
SFM Santa Fe Minerals 1 -1 -28 15 0.083 $ 6,043,959.49
WCN White Cliff Min 0 -8 -37 -8 0.012 $ 5,689,160.39
POL Polymetals Resources 7 0 0.145 $ 5,629,372.27
AVW Avira Resources 0 -20 -20 -33 0.004 $ 5,500,160.00
A8G Australasian Gold 17 17 0.17 $ 5,298,390.56
A8G Australasian Gold 17 17 0.17 $ 5,298,390.56
PAK Pacific American Hld 0 -6 -27 -6 0.016 $ 5,097,358.40
TRM Truscott Mining Corp -9 -14 7 94 0.031 $ 4,862,129.41
MEG Megado 5 -9 -45 0.105 $ 4,520,123.79


The post Gold Digger: Northern Star’s share price down 30pc for FY21, despite posting +$1bn profit appeared first on Stockhead.





Author: Reuben Adams

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Energy & Critical Metals

Pegasus Resources Expands Its Uranium Assets In Saskatchewan

Pegasus Resources Inc. (TSXV:PEGA) continues to make its presence in the prolific Athabasca Basin uranium camp with the recently announced
The post Pegasus…

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Pegasus Resources Inc. (TSXV:PEGA) continues to make its presence in the prolific Athabasca Basin uranium camp with the recently announced acquisition of three uranium properties at the northwest edge of the Basin. The 54,026 hectare properties comprising 13 mineral claims contain a cumulative total of 535,718 lbs of uranium, and significantly, includes a historic resource estimate of 202,200 tons at 0.119% U308 at an average width of 4.8 metres.

These new properties add to the previously announced Pine Channel uranium property which consists of six mineral claims covering 6,028 hectares and is located at the northern edge of the Athabasca basin, roughly 40 km west of the town of Stony Rapids. The Athabasca Basin in Northern Saskatchewan is host to several of the world’s largest and highest-grade uranium mines, including Cameco’s (TSX: CCO) McArthur River Mine and Cigar Lake Mine.

The Wollaston Northeast property is located in the 20A zone within the prolific Wollaston Domain, 45 kilometres northeast of the Eagle Point Uranium Mine. The property has at least eight known base metals showings and five previously documented uranium occurrences, and is considered highly prospective for basement hosted uranium mineralization.

Much of the recent renewed interest in uranium in the region is due to recent discoveries within the Wollaston Domain where the Eagle Point deposits are hosted within its basement rocks. In addition to the Eagle Point Mine, the area also hosts the historic Rabbit Lake Mine and Cameco/Orano Key Lake Mine, the world’s largest high-grade uranium mine.

The 12,397 hectare Bentley Lake Uranium Property consisting of three mineral claims, and is located 35 kilometres northeast of the edge of the Athabasca Basin, within a transition zone between the Wollaston and Mudjatic Domains. This trend is host to several major uranium deposits, including Cigar Lake, Roughrider, McArthur River and Midwest. It is located at the transition zone between the Wollaston and Mudjatik geological domains.

The third property is located approximately 40 kilometres northeast of the edge of the Athabasca Basin and within the Charlebois-Higginson Lake Uranium District. The 6,908 hectare Mozzie Lake Uranium Property consists of three mineral claims and has a historical resource estimate of 204,200 tons at 0.119% U308, with an average width of 4.8 metres, and containing 535,718 lbs of uranium. What makes the Mozzie Lake Property particularly compelling, aside from the historical resource estimate that Pegasus’s exploration efforts may be able to increase significantly, are the pegmatite deposits of the Charlebois-Higginson Lake Uranium District.

Since being initially explored from the 1940’s through to the 1960’s, there has been virtually no exploration on the property. Previous work in the region, as well as on the Pinkham Lake property at Mozzie Lake, indicated that the pegmatite deposits may also host mineralization which contains rare-earth-element bearing minerals. Rare earth minerals are in high demand today due to the needs of the various technology, consumer electronics, and electric vehicle manufacturing industries. PEGA plans to examine the property’s rare earth potential as part of its uranium exploration program at Mozzie Lake.

Pegasus will next review the historical data on the properties to determine an exploration strategy and work programs, and will provide shareholders with updates in the near future. The company’s recent announcements of the uranium assets have certainly rekindled interest in PEGA shares, and its market capitalization has increased by almost 50% to $7.98 million in recent weeks, signifying that investors are enthused about the direction management has taken.

PEGA last traded at $0.095 on the TSX Venture exchange.


FULL DISCLOSURE: Pegasus Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Pegasus Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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The Ethical Investor: ESG moves, lessons from the energy crisis and JP Equities’ stock tips

The Ethical Investor is Stockhead’s weekly look at ESG moves on the ASX. This week’s special guest is JP Equity … Read More
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The Ethical Investor is Stockhead’s weekly look at ESG moves on the ASX. This week’s special guest is JP Equity Partners’ director and partner, Nic Brownbill.

The world is in the grip of an ongoing global power crisis that has seen energy prices soaring by thousands of percentage points.

From China to Europe and now India, the cost of energy is surging drastically. The price of natural gas has even quadrupled in some parts of the world.

 

Source: IEA via Reuters

 

But economists are now warning this might be just the first of many power crunches the world will see as we transition into the new economy.

According to a research paper by CommBank’s analyst Vivek Dhar, there are two main root causes that led to the crisis — a strong demand recovery from the pandemic, and an acute shortage of two key power-producing fuels – natural gas and thermal coal.

As economies reopen, there is a sudden pent up demand from consumers which meant that factories were forced to switch on their production capacity at short notice. This was exacerbated by a colder than usual European autumn, as the continent potentially faces a more-freezing-than-usual winter season.

In China, the crisis mainly stemmed from an undersupply in local production of coals, according to Dhar, adding that coal supply has been hampered in China because of the government’s own environmental protection regulations.

So what can we learn from all this?

Dhar reckons that we are transitioning into the new economy too fast, too soon.

“What the recent energy crisis has shown is that the energy transition needs to be planned carefully,” Dhar wrote.

“This will mean significant investment in renewable generation, batteries, electricity grids and hydrogen.”

But he thinks the roll-out of a decarbonised grid and role of gas need to be clearly defined too.

“Under-investing in gas infrastructure relative to its role in coming years will only serve to make Europe’s energy market more vulnerable to prolonged gas shortages, and increase dependence on Russia.”

Like Europe, China’s decarbonisation ambition will need to be planned as well, Dhar said.

“If coal mines and coal power plants are closed before a renewable replacement is in place, power shortages in China could be an ongoing concern.”
 

What’s happening in Australia

Australians have chosen climate change as the top ESG priority, according to the latest survey conducted by global ESG consultant, SEC Newgate.

And more than half of the 1,000 Aussies surveyed said they were happy with the direction the government is taking on the environment.

ESG Rio
Source: Survey by SEC Newgate

 

Aussie respondents also nominated retailers Coles Group (ASX:COL) and Woolworths (ASX:WOW) as the top local companies when it came to doing well on ESG metrics.

These results should provide food for thought for PM Scott Morrison, who’s currently caught in a political wrangle with the Nationals in setting our 2050 climate goals.

The PM has told Liberal colleagues that he wants to bring a binding 2050 net zero commitment to the COP26 Summit in Glasgow next month, without having to upgrade Australia’s 2030 commitments.

Nationals Leader and also Deputy PM, Barnaby Joyce, said however that he was willing to back the 2050 targets only if funding for regional producers and farmers were made as part of the deal.
 

Special guest JP Equities’ Nic Brownbill shares his views and ESG stocks

Nic Brownbill, a partner at JP Equity, told Stockhead that decarbonisation is a mega global investment opportunity, one that JP Equity wants to be all in on.

How big is the potential for ESG investing?

“We see the whole decarbonisation theme as the next mega global investment opportunity. An estimated $41 trillion is required to decarbonise the planet. It’s going to be a bigger opportunity than the crypto market, because unlike cryptos, the carbon market is going to be mandated by governments, major asset managers and pension funds.”

Which segment of the ESG market do you see outperforming?

“Some companies will fall short in trying to make their carbon targets, so the balance will need to be met with carbon credits. I think carbon emissions will eventually be metricated, and the carbon offset market is going to be a way for major companies to offset their emissions.”

Would that investment opportunity catch on in Australia?

“I believe the Australian market hasn’t really caught on to the opportunity of this yet. But I think something will really start to emerge from the COP26 conference in November, where you’ll see a sustained mega theme starting to unfold in this country.

“I think we will start to see a complete emergence of Australian companies in the carbon space over the next few months and beyond.”

What are the ASX stocks that JP Equity likes in the carbon credit space?

One ASX stock that we’ve been watching very closely is  Fertoz (ASX:FTZ). They’re a leading North American fertiliser manufacturer that produces a unique low-emission rock phosphate product that increases crop yield by 15%.

“Importantly, it can generate significantly lower CO2 emissions in manufacturing compared with other commercial fertilisers.

“This presents a really significant opportunity because agriculture as a sector accounts for 24% of all human generated greenhouse emissions. Fertoz is one of the first movers in the carbon credit market, and since May this year has been issuing carbon offset credit certificates.

“It’s not a matter of if, but when disclosure of carbon emissions will become metricated. And as a result, Fertoz is getting some strong enquiries from other companies looking to offset their footprints by buying carbon credits.”

Any other ASX stocks you like in the ESG space?

“We’re also bullish on Mpower (ASX:MPR). The company is Australia’s leading specialist in renewable energy, battery storage and micro-grid business. It has a focus on five megawatt solar farms, and is in the process of creating an initial portfolio of 20 sites across Australia in the coming years.

“That gives them an aggregate capacity of around 100 megawatts, and an estimated value of more than $150 million. It’s now down to what the team can deliver in some of those projects to build up the portfolio.”

 

Notable ASX ESG-related news during the week

Rio Tinto (ASX:RIO)

The energy giant announced that it was targeting a 50% reduction in Scope 1 and 2 emissions by 2030, and a 15% reduction by 2025 from a 2018 baseline of 32.6Mt.

Around $7.5 billion in direct capital expenditure will be spent on decarbonising Rio Tinto’s assets from 2022 to 2030, including $0.5 billion per year from 2022 to 2024.

Strandline Resources (ASX:STA)

The company released its Sustainability Report for 2021, outlining its commitment to the United Nations Sustainable Development Goals (UNSDGs).

STA said it’s focused on managing development risks at its Coburn project in WA to safeguard workers and ensure environmental compliance.

Lithium Power (ASX:LPI)

The company has appointed global consulting firm Deloitte to ensure a robust ESG program at its Maricunga project in Chile.

Deloitte has been tasked to imbed sustainable protocols in LPI’s lithium extraction operations, and to establish ambitious standards for LPI to become a carbon neutral producer, while keeping high standards on the social aspects.

Jadar Resources (ASX:JDR)

The company also said it has completed its maiden Sustainability Plan, with strategies aligned to the UNSDGs.

 

The views, information, or opinions expressed in the interview in this article are solely those of the interviewee and do not represent the views of Stockhead.

Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article.

The post The Ethical Investor: ESG moves, lessons from the energy crisis and JP Equities’ stock tips appeared first on Stockhead.




Author: Eddy Sunarto

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Emerita Sees Continued Success In Spain

Emerita Resources Corp (TSXV:EMO) continues to report excellent results from the Infanta drill program at its Iberia Belt West Project
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Emerita Resources Corp (TSXV:EMO) continues to report excellent results from the Infanta drill program at its Iberia Belt West Project in Spain, which hosts three previously identified high-grade deposits: La Infanta, Romanera and El Cura. These are all open for expansion along strike and at depth.

On October 22, the company announced assays for the first step-out drill hole from the Infanta drill program and also the final in-fill drill holes. The significance of the in-fill program was to verify the historical drill results. They will now enable a proper 3D modelling of the deposit and will also provide additional data to be used for future metallurgical testing.

At Infanta, the step-out was conducted to expand the outer perimeter of the deposit, and the in-fill drilling was intended to confirm historical drill data within Infanta’s known mineralization zone. Step-out drill hole IN018 was drilled 40 metres to the west of the historical limits of the deposit and intersected 8.2 metres with a grade of 2.5% copper, 8.7% lead, 17.3% zinc, 223.5 g/t silver and 0.5 g/t gold. A second step-out hole was drilled 50 metres to the west of hole IN018 and intersected two zones of massive sulfide but assays have not been returned yet.

In-fill drill hole IN014 intersected 5.7 metres of 2.4% copper, 7.3 %lead, 13.4% zinc, 225 g/t silver and 0.6 g/t gold. The ongoing geophysical survey, which was suspended along with other exploration activities for the region’s hunting season, is expected to resume by the end of October.

Emerita plans to have five drill rigs operating by the end of 2021 and will include the Romanera deposit, El Cura, and other targets identified by previous geophysics work. The two drills currently on site will now focus on step-out drilling to increase the size of the deposit.

Emerita also recently provided investors with an update on the legal proceedings for the Aznalcóllar Project and the company is expecting a ruling by the Administrative Court of Andalucia in Emerita’s favour in the near future.

The Aznalcóllar Zinc Project is located in the prolific Iberian Pyrite Belt in the Andalusia region of southern Spain and is considered to be one of the world’s largest and most productive volcanogenic massive sulfide (VMS) structures. It has been mined for over a thousand years and has produced over 2000 million tons of ore.

Aznalcóllar is considered to be one of the world’s top undeveloped zinc deposits, and the project is essentially a world-class pre-production development asset. Here, the main deposit is referred to as Los Frailes, which contains a historical open pit mineral resource. Two other deposits exist on the property as well, which require further development. The Los Frailes mine operated during the 1990s until it closed due to a combination of tailings-related environmental failure and low metal prices.

After the Aznalcóllar site was rehabilitated, the government initiated a public tender process for the rights to the project and it was initially awarded to another major mining company, however Emerita believed that their bid was superior. It subsequently requested an investigation into the tender process for the property and filed a lawsuit in 2015.

In early 2021, the Spanish court concluded that the process was fraught with corruption, fraud and other malfeasance and rescinded the rights that were awarded and criminal charges were sought for the perpetrators and their enablers. In July 2021, a Spanish judge issued additional criminal indictments against the mining company and government officials who participated in undermining the public tender process for the project.

Under Spanish law, if a crime was committed during the tender process, the rights are then awarded to the next best qualified competing bid, which in this case was Emerita. Subsequently, Emerita has been waiting for the Administrative Court to conclude the process to formally award the rights to the Aznalcóllar Project to the company, which brings us to present day.

The company is planning to develop the deposit into an underground mining operation focused on mining the high-grade zones, which are estimated to contain 20 million tonnes at a grade of 6.65% zinc, 3.87% lead, 0.29% copper and 84 ppm silver. As a requirement of the project’s public tender process, Emerita submitted comprehensive. engineering, environmental and water management studies to the government, and now the company is expecting to be given the green light to proceed developing the Aznalcóllar project into an eventual producer.

Emerita is well financed, having completed a $20 million bought deal private placement in July 2021. Emerita has 182.42 million shares outstanding and due to the recent increase in the Company’s share price, a market capitalization now of $556.38 million. Even so, barring any unforeseen negative developments regarding the legal issues, Emerita Resources Corp still appears to be potentially undervalued relative to the potential value of the world-class assets it is developing.

Shares of Emerita Resources Corp last traded at $3.05.


FULL DISCLOSURE: Emerita Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Emerita Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

The post Emerita Sees Continued Success In Spain appeared first on the deep dive.







Author: Phil Gracin

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