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Gold Digger: JP Morgan reckons gold’s gonna take a dive to $1,520/oz by Q4

Gold is holding steady above US$1,800/oz – currently trading at US$1816.60. Some players are confident the gold market will trend net … Read More
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This article was originally published by Stockhead

Gold is holding steady above US$1,800/oz – currently trading at US$1816.60.

Some players are confident the gold market will trend net positive next year as the market digests the reality of the past 24 months.

But commodity analysts at J.P. Morgan Global Research reckon the market might not be able to withstand the Federal Reserve’s plan to end its monthly bond purchases by March and plans to raise interest rates three times.

“From an average of $1,765/oz in Q1, gold prices are set to steadily decline over the course of next year to a Q4 average of $1,520/oz,” the analysts said in a 2022 outlook report.

“Industrial metals will still take time to find balance next year, keeping prices supportive over the first half of 2022, however, with relatively middling Chinese demand growth expected, prices could come under more sustained pressure later in the year. An unwinding in ultra-accommodative central bank policy will be most outright bearish for gold and silver over the course of 2022.”

However, Kitco’s Jim Wyckoff reckons big-shot banks’ commodity market forecasts are usually wrong.

“I’ll take the other side of that JP Morgan trade and predict gold prices in 4Q 2022 will be higher than present levels,” he said.

“Reason: I believe price inflation will become much more problematic in 2022 and the Federal Reserve won’t be able to do much about it.

“That scenario would be bad news for paper assets like stocks and bonds, but good news for hard assets like the metals.”


 

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 Price % Month % Six Month % Week % Year Market Cap
DCX Discovex Res Ltd 0.012 140 140 100 33 $ 23,117,976.68
SPQ Superior Resources 0.039 117 225 86 225 $ 58,344,381.40
HMX Hammer Metals Ltd 0.059 40 -36 34 76 $ 48,899,677.38
FML Focus Minerals Ltd 0.34 15 31 31 1 $ 63,048,254.93
MRR Minrex Resources Ltd 0.044 10 132 26 110 $ 26,440,465.97
GWR GWR Group Ltd 0.145 45 -53 21 -62 $ 44,017,591.42
AAR Anglo Australian 0.11 26 29 18 -12 $ 59,617,923.90
LM8 Lunnonmetalslimited 0.46 35 1 18 $ 34,087,069.42
ARN Aldoro Resources 0.43 -2 41 18 177 $ 37,117,014.44
GNM Great Northern 0.007 -13 -36 17 -36 $ 10,563,356.83
KAU Kaiser Reef 0.21 -2 -18 17 -48 $ 25,708,349.94
KCC Kincora Copper 0.14 22 -42 17 $ 9,891,331.07
DRE Drednought Resources 0.042 -5 75 17 110 $ 119,161,709.14
ASO Aston Minerals Ltd 0.105 -28 -32 17 176 $ 100,190,730.05
FFX Firefinch Ltd 0.845 20 114 17 412 $ 977,853,046.00
TMZ Thomson Res Ltd 0.071 3 -43 16 -35 $ 38,769,515.42
MDI Middle Island Res 0.115 20 5 16 -70 $ 13,466,004.42
CDT Castle Minerals 0.029 7 107 16 190 $ 26,380,339.53
TNR Torian Resources Ltd 0.023 5 -15 15 -15 $ 23,980,926.05
SRN Surefire Rescs NL 0.0115 5 -18 15 -57 $ 11,043,104.09
POL Polymetals Resources 0.155 7 7 15 $ 6,108,452.04
LCL Los Cerros Limited 0.125 -4 -26 14 4 $ 76,405,962.60
ZNC Zenith Minerals Ltd 0.25 9 -2 14 100 $ 79,332,017.98
CPM Coopermetalslimited 0.21 14 14 $ 5,809,300.00
CEL Challenger Exp Ltd 0.295 -2 34 13 48 $ 288,732,358.61
OAU Ora Gold Limited 0.017 13 0 13 -18 $ 17,684,020.24
AZL Arizona Lithium Ltd 0.105 5 320 13 1067 $ 194,345,632.70
NES Nelson Resources. 0.035 3 -34 13 -60 $ 6,994,519.02
SBR Sabre Resources 0.0045 -10 13 13 -50 $ 7,775,161.42
LYN Lycaonresources 0.36 -22 13 $ 9,450,000.00
TSC Twenty Seven Co. Ltd 0.0045 13 13 13 -25 $ 10,643,255.62
KSN Kingston Resources 0.18 -3 -16 13 -27 $ 60,639,774.69
ZAG Zuleika Gold Ltd 0.019 0 -34 12 -63 $ 8,201,867.46
EMU EMU NL 0.019 -10 -27 12 -55 $ 10,996,289.68
VRC Volt Resources Ltd 0.029 4 -17 12 190 $ 77,612,037.50
CHN Chalice Mining Ltd 9.56 0 35 12 169 $ 3,375,797,737.74
BMR Ballymore Resources 0.195 -11 0 11 0 $ 13,960,835.39
EM2 Eagle Mountain 0.59 4 -41 11 26 $ 136,613,537.48
LRL Labyrinth Resources 0.04 8 -15 11 57 $ 34,782,447.96
RVR Red River Resources 0.2 5 0 11 -31 $ 101,100,575.16
SI6 SI6 Metals Limited 0.01 0 -17 11 -64 $ 14,281,439.85
CLA Celsius Resource Ltd 0.02 -23 -41 11 -56 $ 22,133,539.70
HMG Hamelingoldlimited 0.15 -6 11 $ 15,400,000.00
HMG Hamelingoldlimited 0.15 -6 11 $ 15,400,000.00
XTC Xantippe Res Ltd 0.005 25 150 11 100 $ 30,574,233.01
KRM Kingsrose Mining Ltd 0.086 8 62 10 139 $ 61,958,380.99
AZS Azure Minerals 0.38 10 65 10 -28 $ 111,864,859.56
MZZ Matador Mining Ltd 0.38 6 -16 10 7 $ 80,988,373.88
ICG Inca Minerals Ltd 0.11 5 -4 10 108 $ 52,903,940.87
AAU Antilles Gold Ltd 0.078 5 4 10 32 $ 21,888,357.19
RML Resolution Minerals 0.0175 -3 -17 9 -54 $ 11,158,232.18
ARV Artemis Resources 0.082 -2 58 9 -25 $ 101,654,809.73
RED Red 5 Limited 0.295 9 55 9 21 $ 683,344,589.08
GED Golden Deeps 0.012 -20 -8 9 9 $ 9,310,217.28
KTA Krakatoa Resources 0.049 -13 2 9 -28 $ 14,440,785.93
CHZ Chesser Resources 0.125 -7 -4 9 -48 $ 58,735,626.75
BNR Bulletin Res Ltd 0.075 0 16 9 0 $ 20,261,703.12
NXM Nexus Minerals Ltd 0.445 -14 527 9 271 $ 126,700,648.36
THR Thor Mining PLC 0.013 -13 -19 8 -24 $ 10,442,848.62
CDR Codrus Minerals Ltd 0.135 -10 -33 8 $ 5,400,000.00
TIE Tietto Minerals 0.48 10 60 8 28 $ 296,741,610.99
KAI Kairos Minerals Ltd 0.028 4 -10 8 -18 $ 45,770,253.12
GMR Golden Rim Resources 0.14 41 17 8 -7 $ 33,205,231.53
BGD Bartongoldholdings 0.22 5 10 7 $ 18,455,599.14
REZ Resourc & En Grp Ltd 0.059 26 97 7 28 $ 30,987,958.92
BTR Brightstar Resources 0.045 -8 45 7 -21 $ 24,061,878.24
HXG Hexagon Energy 0.075 -10 9 7 27 $ 32,112,995.54
CMM Capricorn Metals 3.375 11 78 7 88 $ 1,210,898,765.91
GRL Godolphin Resources 0.15 20 0 7 -35 $ 12,616,705.65
BCN Beacon Minerals 0.033 6 -6 6 -1 $ 118,511,744.74
RDT Red Dirt Metals Ltd 0.67 -8 319 6 135 $ 162,980,723.10
TAM Tanami Gold NL 0.067 -4 -3 6 -19 $ 76,381,307.99
RGL Riversgold 0.017 -15 -51 6 -66 $ 6,464,675.14
KCN Kingsgate Consolid. 1.94 28 131 6 110 $ 412,762,644.85
AUT Auteco Minerals 0.074 4 -8 6 -26 $ 124,925,241.26
ICL Iceni Gold 0.185 -12 -5 6 $ 22,455,898.74
KWR Kingwest Resources 0.19 -14 141 6 19 $ 44,929,197.13
TSO Tesoro Resources Ltd 0.077 -5 -47 5 -73 $ 41,585,809.28
SVY Stavely Minerals Ltd 0.53 8 22 5 -33 $ 139,614,376.82
RDN Raiden Resources Ltd 0.02 -17 -20 5 -33 $ 27,506,546.08
CTO Citigold Corp Ltd 0.01 11 -9 5 -23 $ 28,336,590.91
LEX Lefroy Exploration 0.31 -11 -69 5 35 $ 42,634,777.06
BEZ Besragoldinc 0.105 -22 5 $ 18,044,245.80
CAI Calidus Resources 0.63 5 35 5 27 $ 248,060,975.14
TTM Titan Minerals 0.105 5 -13 5 -13 $ 140,071,326.00
CYL Catalyst Metals 1.995 -9 2 5 -5 $ 196,419,167.39
SMS Starmineralslimited 0.21 20 5 $ 5,512,500.00
HCH Hot Chili Ltd 1.73 -20 2 5 -18 $ 186,771,501.00
NWM Norwest Minerals 0.066 -18 -18 5 -26 $ 12,100,689.03
GBZ GBM Rsources Ltd 0.11 0 -4 5 -21 $ 58,743,070.31
MEU Marmota Limited 0.044 -2 0 5 -4 $ 42,143,496.59
BAT Battery Minerals Ltd 0.0115 -12 -28 5 -43 $ 28,169,574.85
SFR Sandfire Resources 6.62 10 4 4 31 $ 2,726,379,588.45
WRM White Rock Min Ltd 0.24 -23 -53 4 -59 $ 34,923,378.02
MXR Maximus Resources 0.075 17 14 4 -50 $ 23,840,102.40
KZR Kalamazoo Resources 0.38 9 4 4 -34 $ 50,818,030.90
OZM Ozaurum Resources 0.13 -7 13 4 $ 7,438,080.00
PUR Pursuit Minerals 0.027 -19 -60 4 29 $ 24,584,279.04
GBR Greatbould Resources 0.135 -4 48 4 207 $ 48,226,834.22
OKU Oklo Resources Ltd 0.135 -10 23 4 -29 $ 68,107,024.67
DTM Dart Mining NL 0.082 -6 -41 4 -56 $ 10,208,256.26
TG1 Techgen Metals Ltd 0.14 -28 -26 4 $ 6,095,903.24
CXU Cauldron Energy Ltd 0.028 12 -28 4 -28 $ 13,264,928.01
KAL Kalgoorliegoldmining 0.14 -13 4 $ 10,503,017.00
SNG Siren Gold 0.285 -16 16 4 -61 $ 23,656,199.57
MTC Metalstech Ltd 0.285 0 60 4 80 $ 48,332,731.10
BRB Breaker Res NL 0.295 -6 90 4 51 $ 92,864,664.77
SAU Southern Gold 0.059 -8 -16 4 -51 $ 12,373,067.85
ERM Emmerson Resources 0.15 103 131 3 92 $ 67,262,196.02
BYH Bryah Resources Ltd 0.0485 -7 -18 3 -31 $ 11,084,151.58
FG1 Flynngold 0.17 -8 13 3 $ 10,784,128.50
DGO DGO Gold Limited 2.76 -4 -11 3 -3 $ 221,094,036.80
A8G Australasian Metals 0.52 11 259 3 $ 20,888,656.88
GSN Great Southern 0.07 11 67 3 -7 $ 37,265,696.02
CY5 Cygnus Gold Limited 0.175 -8 67 3 -3 $ 20,371,393.18
SMI Santana Minerals Ltd 0.35 6 327 3 100 $ 45,096,677.92
MGV Musgrave Minerals 0.355 6 -4 3 -1 $ 193,382,261.64
S2R S2 Resources 0.185 -14 42 3 42 $ 64,147,473.90
ADN Andromeda Metals Ltd 0.185 12 23 3 -33 $ 459,489,503.51
RSG Resolute Mining 0.39 10 -23 3 -51 $ 402,935,004.80
DCN Dacian Gold Ltd 0.195 -5 -25 3 -50 $ 206,164,641.97
SLR Silver Lake Resource 1.775 7 7 3 0 $ 1,523,000,135.40
ANX Anax Metals Ltd 0.08 -12 5 3 82 $ 28,161,297.16
DEG De Grey Mining 1.22 1 -1 3 23 $ 1,645,515,524.25
AOP Apollo Consolidated 0.61 -5 107 3 110 $ 177,888,559.90
BC8 Black Cat Syndicate 0.61 5 -2 3 -12 $ 84,484,686.60
AGG AngloGold Ashanti 5.72 2 18 3 -5 $ 489,750,629.85
PNM Pacific Nickel Mines 0.082 -4 49 3 82 $ 21,401,907.12
HRN Horizon Gold Ltd 0.41 3 3 3 -13 $ 44,277,186.64
CST Castile Resources 0.205 3 -7 3 -27 $ 39,942,024.20
GIB Gibb River Diamonds 0.082 -13 37 3 -6 $ 16,920,755.60
BGL Bellevue Gold Ltd 0.865 9 -9 2 -23 $ 876,606,428.85
MM8 Medallion Metals. 0.22 10 -10 2 $ 23,241,882.18
PGD Peregrine Gold 0.45 14 20 2 $ 14,447,481.85
GOR Gold Road Res Ltd 1.59 9 26 2 25 $ 1,389,016,625.85
AME Alto Metals Limited 0.098 -9 5 2 11 $ 50,691,601.15
BDC Bardoc Gold Ltd 0.5 28 21 2 4 $ 141,001,117.21
NCM Newcrest Mining 24.59 4 -3 2 -5 $ 19,835,485,646.75
WMC Wiluna Mining Corp 1.06 0 15 2 -25 $ 202,770,692.25
WAF West African Res Ltd 1.335 2 34 2 34 $ 1,337,213,736.95
RMS Ramelius Resources 1.56 -2 -8 2 -4 $ 1,312,585,922.22
NST Northern Star 9.54 1 -2 2 -24 $ 10,830,884,150.70
QML Qmines Limited 0.32 -16 -15 2 $ 17,385,057.28
MML Medusa Mining Ltd 0.71 -7 -15 1 -7 $ 148,688,755.22
AXE Archer Materials 1.12 -9 18 1 115 $ 277,275,271.84
PRU Perseus Mining Ltd 1.635 1 13 1 30 $ 1,981,798,105.55
TBR Tribune Res Ltd 4.8 -2 4 1 -17 $ 251,846,769.60
WGX Westgold Resources. 2.03 0 8 1 -23 $ 836,099,966.19
VAN Vango Mining Ltd 0.057 -2 -17 1 -7 $ 72,446,413.84
SBM St Barbara Limited 1.455 8 -15 1 -38 $ 1,000,433,139.09
RND Rand Mining Ltd 1.46 -2 1 1 -21 $ 81,901,383.84
EVN Evolution Mining Ltd 4.095 2 -9 1 -18 $ 7,387,020,962.49
RRL Regis Resources 1.94 8 -18 1 -46 $ 1,407,657,795.77
SSR SSR Mining Inc. 24.25 -4 21 0 -7 $ 507,008,673.15
ANL Amani Gold Ltd 0.0015 0 50 0 50 $ 22,875,564.11
AYM Australia United Min 0.008 -11 -11 0 0 $ 14,740,619.88
E2M E2 Metals 0.29 -9 2 0 -49 $ 43,636,651.77
STN Saturn Metals 0.425 -20 4 0 -34 $ 54,638,312.92
KNB Koonenberrygold 0.16 7 0 $ 12,229,177.62
DEX Duke Exploration 0.175 -13 -52 0 -51 $ 16,238,007.36
TRM Truscott Mining Corp 0.033 10 0 0 83 $ 5,014,070.95
PKO Peako Limited 0.021 -7 -49 0 -13 $ 6,477,536.12
TLM Talisman Mining 0.155 0 -24 0 58 $ 29,099,622.04
MBK Metal Bank Ltd 0.007 -22 -8 0 -39 $ 18,254,727.12
BRV Big River Gold Ltd 0.23 2 -42 0 -43 $ 50,471,763.96
AVW Avira Resources Ltd 0.005 -17 0 0 -38 $ 8,593,950.00
ALY Alchemy Resource Ltd 0.012 9 -12 0 -32 $ 10,951,966.24
HRZ Horizon 0.125 -11 2 0 19 $ 70,996,900.00
NAG Nagambie Resources 0.06 -9 -25 0 50 $ 29,995,940.76
RDS Redstone Resources 0.014 8 8 0 8 $ 10,784,985.95
NSM Northstaw 0.3 0 15 0 -36 $ 12,038,100.00
IDA Indiana Resources 0.064 -2 -12 0 7 $ 27,836,605.44
BMO Bastion Minerals 0.24 0 33 0 $ 17,263,022.40
TRN Torrens Mining 0.175 35 -27 0 $ 12,539,688.84
AGC AGC Ltd 0.1 1 -29 0 $ 6,772,728.40
AGC AGC Ltd 0.1 1 -29 0 $ 6,772,728.40
HAW Hawthorn Resources 0.089 -15 107 0 -34 $ 30,016,405.17
SFM Santa Fe Minerals 0.13 24 44 0 38 $ 9,466,442.57
AUC Ausgold Limited 0.047 -2 9 0 2 $ 75,880,303.43
TCG Turaco Gold Limited 0.12 -4 9 0 100 $ 51,159,333.72
GSR Greenstone Resources 0.029 4 61 0 16 $ 23,405,281.98
PF1 Pathfinder Resources 0.29 2 -12 0 21 $ 15,936,303.00
AAJ Aruma Resources Ltd 0.069 -10 10 0 -23 $ 8,691,343.71
SVL Silver Mines Limited 0.23 12 -8 0 0 $ 290,662,232.18
PRS Prospech Limited 0.065 -12 -54 0 -68 $ 4,236,765.33
RMX Red Mount Min Ltd 0.009 -10 0 0 -18 $ 13,180,124.72
MTH Mithril Resources 0.016 -6 7 0 -27 $ 39,993,612.14
VKA Viking Mines Ltd 0.015 -25 -12 0 -44 $ 15,378,876.47
NAE New Age Exploration 0.011 0 0 0 10 $ 17,230,786.92
VMC Venus Metals Cor Ltd 0.175 -3 -10 0 -13 $ 26,438,769.53
AGS Alliance Resources 0.15 -12 0 0 -14 $ 31,202,570.10
ADV Ardiden Ltd 0.011 0 38 0 -35 $ 23,851,688.92
G50 Gold50Limited 0.25 -11 0 $ 14,004,500.25
GUL Gullewa Limited 0.078 -3 -5 0 -40 $ 14,849,101.80
LNY Laneway Res Ltd 0.006 0 50 0 0 $ 23,424,395.60
CGN Crater Gold Min Ltd 0.017 0 6 0 0 $ 20,867,429.74
KGM Kalnorth Gold Ltd 0.013 0 0 0 0 $ 11,625,120.78
TRY Troy Resources Ltd 0.037 0 -5 0 -59 $ 30,073,993.35
MCT Metalicity Limited 0.009 -5 -10 0 -50 $ 19,293,943.79
PAK Pacific American Hld 0.016 -11 -5 0 -18 $ 7,646,038.43
AWV Anova Metals Ltd 0.02 0 0 0 -23 $ 28,661,884.00
MEI Meteoric Resources 0.018 20 -65 0 -75 $ 24,420,757.94
MLS Metals Australia 0.002 -20 0 0 0 $ 10,477,114.72
ADT Adriatic Metals 2.45 -8 3 0 8 $ 511,891,621.12
CAZ Cazaly Resources 0.044 -2 -10 0 -6 $ 16,260,783.75
CWX Carawine Resources 0.17 -15 -35 0 -24 $ 23,858,510.73
MVL Marvel Gold Limited 0.06 -18 15 0 18 $ 35,802,901.29
MRZ Mont Royal Resources 0.34 3 33 0 24 $ 19,834,223.34
PUA Peak Minerals Ltd 0.015 -12 -17 0 -46 $ 15,620,539.80
IPT Impact Minerals 0.013 0 0 0 -32 $ 28,333,128.87
GTR Gti Resources 0.023 -18 -5 0 8 $ 25,961,968.24
FAU First Au Ltd 0.01 -9 -17 0 -41 $ 7,839,109.49
TMX Terrain Minerals 0.008 -11 -11 0 -11 $ 5,886,088.07
PNX PNX Metals Limited 0.007 0 -13 0 0 $ 25,565,354.58
MKG Mako Gold 0.105 -5 25 0 5 $ 42,046,576.22
SLZ Sultan Resources Ltd 0.165 0 -15 0 -23 $ 11,473,174.19
AQX Alice Queen Ltd 0.01 0 -17 0 -66 $ 13,702,230.10
NPM Newpeak Metals 0.0015 0 -25 0 -50 $ 15,299,500.07
NML Navarre Minerals Ltd 0.0795 9 -15 -1 -60 $ 106,444,427.86
EMR Emerald Res NL 1.07 0 19 -1 26 $ 575,404,705.49
PDI Predictive Disc Ltd 0.2325 -1 202 -1 288 $ 334,457,489.94
AMI Aurelia Metals Ltd 0.43 0 5 -1 1 $ 519,563,711.94
CBY Canterbury Resources 0.083 -10 -10 -1 -21 $ 10,225,477.99
RXL Rox Resources 0.355 -3 -11 -1 -52 $ 55,950,702.97
WWI West Wits Mining Ltd 0.0325 -2 -61 -2 -45 $ 56,867,406.29
MOH Moho Resources 0.063 5 -3 -2 -29 $ 7,923,850.33
ALK Alkane Resources Ltd 0.925 15 -20 -2 -1 $ 541,980,912.20
ARL Ardea Resources Ltd 0.47 -3 -7 -2 28 $ 66,638,505.12
KLA Kirkland Lake Gold 56.2 0 12 -2 0 $ 55,640,000.00
SKY SKY Metals Ltd 0.1075 22 -2 -2 -43 $ 41,446,181.70
AM7 Arcadia Minerals 0.21 2 14 -2 $ 6,840,000.00
GSM Golden State Mining 0.081 -15 -42 -2 -57 $ 6,730,126.79
M24 Mamba Exploration 0.2 3 -2 -2 $ 7,865,000.60
A1G African Gold Ltd. 0.185 -3 -16 -3 -4 $ 23,187,513.96
STK Strickland Metals 0.072 4 60 -3 110 $ 92,132,422.85
PRX Prodigy Gold NL 0.035 -5 -13 -3 -22 $ 20,974,593.82
PNR Pantoro Limited 0.34 3 70 -3 58 $ 479,229,557.32
OBM Ora Banda Mining Ltd 0.067 -9 -55 -3 -78 $ 64,298,817.33
NVA Nova Minerals Ltd 1.135 -11 -9 -3 -33 $ 211,737,684.88
MKR Manuka Resources. 0.31 -14 2 -3 -10 $ 30,954,774.22
WCN White Cliff Min Ltd 0.0155 -14 29 -3 -40 $ 9,491,142.38
BBX BBX Minerals Ltd 0.155 -13 -37 -3 -47 $ 68,703,221.25
XAM Xanadu Mines Ltd 0.029 12 -22 -3 -24 $ 35,253,057.00
MAU Magnetic Resources 1.45 -7 -5 -3 24 $ 325,297,087.55
MAT Matsa Resources 0.057 8 -21 -3 -46 $ 20,414,813.34
TBA Tombola Gold Ltd 0.028 -18 -28 -3 -42 $ 20,320,281.80
DTR Dateline Resources 0.082 -8 -11 -4 64 $ 37,224,199.18
BNZ Benzmining 0.65 1 -19 -4 -46 $ 33,249,383.70
AWJ Auric Mining 0.096 -29 -31 -4 $ 5,382,658.27
MHC Manhattan Corp Ltd 0.012 20 0 -4 -52 $ 19,078,483.66
IVR Investigator Res Ltd 0.069 -15 -15 -4 -12 $ 90,300,369.28
LCY Legacy Iron Ore 0.022 5 69 -4 -49 $ 140,950,176.38
NMR Native Mineral Res 0.22 -14 -11 -4 -43 $ 9,108,992.42
DLC Delecta Limited 0.0105 -19 62 -5 75 $ 12,049,087.05
TAR Taruga Minerals 0.036 -11 -31 -5 -32 $ 18,946,220.22
OKR Okapi Resources 0.35 -21 75 -5 84 $ 39,421,112.15
G88 Golden Mile Res Ltd 0.047 -6 -6 -6 -16 $ 8,037,861.42
GMN Gold Mountain Ltd 0.015 -17 -50 -6 -62 $ 17,122,386.72
YRL Yandal Resources 0.37 -3 -36 -6 -14 $ 45,184,128.21
ENR Encounter Resources 0.15 11 11 -9 -10 $ 47,522,523.90
M2R Miramar 0.17 -23 -6 -11 -42 $ 8,468,553.40
AQI Alicanto Min Ltd 0.12 -4 -11 -11 14 $ 47,839,202.13
SIH Sihayo Gold Limited 0.008 -11 -27 -11 -56 $ 29,483,691.30
GML Gateway Mining 0.013 -13 -28 -13 -55 $ 31,641,489.14
DDD 3D Resources Limited 0.003 -25 -40 -14 -19 $ 13,581,302.32
MEG Megado 0.083 -17 -43 -16 -55 $ 3,659,147.83
AL8 Alderan Resource Ltd 0.028 -15 -33 -18 -76 $ 11,490,284.16

 

Weekly small cap standouts

DISCOVEX (ASX:DCX) 

The company climbed 100% this week off the back of a discovery at its JV Greater Duchess Gold Project with Carnaby Resources (ASX:CNB) in western Queensland.

The assay results outlined an extremely high-grade copper gold discovery at the Nil Desperandum prospect of 41m at 4.1% copper, 0.5g/t gold from 247m, including 24m at 6.5% copper, 0.7g/t gold from 251m, including 9m at 10.3% copper, 1.2g/t gold from 264m.

Carnaby’s MD Rob Watkins said the prospect is shaping up as a major iron oxide copper gold discovery which is rapidly getting bigger and better at depth.

“The scale of the mineralised system we are seeing is exceptional,” he said.

 


 

FOCUS MINERALS (ASX:FML)

The company announced it had successfully raised approximately $25.5 million (before costs) under an entitlement offer this week, with shares trading up 31%.

Focus says the proceeds will be used to fund plans to resume gold mining operations at its Coolgardie Gold Project which includes the 1.4Mtpa processing plant at Three Mile Hill (on care and maintenance).

An updated PFS in September 2020 highlighted the potential for a low capital cost, fast-tracked return to mining at Coolgardie and delivered an NPV7.5% of $183 million.


 

TORIAN RESOURCES (ASX:TNR)

The company was up 15% this week, reporting assays from its 17,500m drilling campaign (RC and AV combined) at the Mt Stirling Gold Project of:

  • 4m at 4.76g/t gold from 70m including 1m at 9.24g/t from 73m; and
  • 3m at 0.99g/t from 9m including 1m at 1.38g/t from1 0m and 2m at 1.14g/t from 15m including 1m at 1.30g/t from 15m

The company says an updated global MRE for the project is on track for the end of Q1 2022.

 


 

SSR MINING (ASX:SSR)

This under-the-radar ~700,000ozpa gold miner — the result of last year’s merger between ASX-listed Alacer and North American listed SSR — recently dazzled punters with a standout September quarter result.

It reported Q3 production of 186,941oz of gold equivalent at all in sustaining costs (AISC) of US$1,006/oz from its four producing assets in the USA, Turkey, Canada, and Argentina.

That’s a hefty profit margin at current gold prices above $US1,800/oz.

This week SSR announced that that commissioning and ramp-up of the sulphide plant flotation circuit at the Çöpler operation in Turkey had begun.

This is expected to boost processed gold grades, reduce reagent (chemical) use, and increase total sulphide plant throughput and gold production. All good things.

The $21m market cap stock’s share price was unchanged this week.

 


 

 

 

 

 

 

The post Gold Digger: JP Morgan reckons gold’s gonna take a dive to $1,520/oz by Q4 appeared first on Stockhead.






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Author: Emma Davies

Base Metals

Lithium Market Jumps on Policies of Newly Elected Chilean Leader That Could Ultimately Cut Production Levels

The mid-December 2021 electoral victory of Gabriel Boric, a 35-year-old leftist candidate and former student protest leader, to Chile’s presidency
The…

The mid-December 2021 electoral victory of Gabriel Boric, a 35-year-old leftist candidate and former student protest leader, to Chile’s presidency seems to be boosting an already buoyant market for lithium. Lithium is a key component of the cathode in most electric vehicle (EV) batteries, and demand is expected to grow almost geometrically over the foreseeable future.

Chile produces more than 20% of the world’s lithium and contains just over half of the globe’s reserves. Most of these reserves are found in brine that flows beneath the country’s remote Atacama Desert.

Worldwide lithium mine production in 2020, in tonnes. Source: Statista.

Mr. Boric, who takes office on March 11, 2022, campaigned on a platform of overhauling the country’s market-oriented economic system. He also promised to expand the country’s social net, including narrowing the nation’s wide income gap between the rich and poor, and to implement pro-environment and pro-climate measures. This last issue tapped into many Chileans’ concerns about the social and environmental risks of lithium extraction.

To date, Chile’s incoming leader has not discussed his specific plans for the lithium industry, except to make what sounds like a scary, possibly supply-disrupting proposal: the potential creation of a national lithium company.  Currently, two companies, Albemarle Corporation (NYSE: ALB) and Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM), produce lithium under contracts with the government.

There is a precedent for such a nationalization in Chile. Codelco, a state-owned copper mining company, was formed in 1976 from foreign-owned copper companies that were nationalized in 1971. The nationalization plan was implemented by Marxist ex-president Salvador Allende. Codelco is the largest copper-producing company in the world.

Hints of an impending less friendly climate toward lithium extraction are already evident. On January 4, 2022, a group of left-of-center lawmakers filed an objection with a Santiago appeals court to a bid request put forth by the current administration to expand lithium production in the country. Winning bidders would receive 20+ year lithium extraction contracts. On January 7, the court rejected the lawmakers’ objections, saying the time allowed for appealing the bid process had expired.

In addition, on January 5, a centrist Chilean party introduced a bill in Chile’s legislature that would prevent a sitting president from soliciting new mining contract bids in the final 90 days of his/her term. As noted above, President Pinera’s term expires March 10, 2022.  

Lithium markets seem well aware of future potential production issues in the rich production region of Chile. Lithium prices, already up 160% since the end of July 2021 based on future EV-based lithium demand, have soared more than 25% since just the December 19, 2021 election of the new Chilean president and show no signs of slowing.

Lithium carbonate price, in Chinese yuan per tonne. Source: Trading Economics.

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

The post Lithium Market Jumps on Policies of Newly Elected Chilean Leader That Could Ultimately Cut Production Levels appeared first on the deep dive.



Author: Jim McFadden

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Precious Metals

BMO Reiterates Ratings On Osisko Gold Royalties After Preliminary Results

On January 10th, Osisko Gold Royalties (TSX: OR) reported its preliminary fourth-quarter deliveries and portfolio update. Osisko received 19,830 gold
The…

On January 10th, Osisko Gold Royalties (TSX: OR) reported its preliminary fourth-quarter deliveries and portfolio update. Osisko received 19,830 gold equivalent ounces for a total of 80,000 equivalent ounces in 2021. This is at the higher end of their 78,000 – 82,000 guidance. The company says that preliminary revenue for the fourth quarter is C$50.7 million and cost of sales came in at C$3.7 million.

Osisko Gold currently has 13 analysts covering the stock with an average 12-month price target of C$22.88 or a 51% upside to the current stock price. Out of the 13 analysts, 4 have strong buy ratings, 8 have buy ratings and 1 analyst has a hold rating on the stock. The street high sits at C$27, representing 78% upside, coming from Haywood Securities. While the lowest price target sits at C$19, representing a 26% upside to the current stock price.

In BMO Capital Markets’ note, they reiterate their C$20 12-month price target and market perform rating saying that the preliminary results were consistent with consensus expectations.

On the results, BMO says that all the results came in line with consensus expectations. The consensus estimates were 19,700 equivalent ounces, C$53.3 million in revenue, and C$4.2 million in cost of sales.

BMO says that in the news release, the company outlined a number of expected 2022 catalysts which include further expansion to Mantos Blancos, ‘imminent production’ at Santana, Ermitaño, and advancing Tocantinzinho under new ownership.

BMO says that they have not updated their estimates for the companies outlook and keep their estimates tied to their models of the mine operators under their coverage so there is a potential upside to their price target.

Below you can see BMO’s updated fourth quarter, full year 2021, and 2022 estimates.


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

The post BMO Reiterates Ratings On Osisko Gold Royalties After Preliminary Results appeared first on the deep dive.


Author: Justin Young

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Precious Metals

Lundin Gold Sees BMO Reiterate $14 Price Target After Production Beat

On January 10th, Lundin Gold Inc. (TSX: LUG) announced its 2021 full-year production results. The company announced that it produced
The post Lundin Gold…

On January 10th, Lundin Gold Inc. (TSX: LUG) announced its 2021 full-year production results. The company announced that it produced 428,514 ounces of gold, beating their own high range of guidance, which was 420,000 ounces. The breakdown was 289,499 ounces of concentrate and 139,015 ounces of Doré. The company processed 1,415,634 tonnes this year with an average throughput of 4,121 tonnes per day and a recovery rate of 88.6%.

Lundin Gold currently has 9 analysts covering the stock with an average 12-month price target of C$13.69, or a 36% upside to the current stock price. Out of the 9 analysts, 8 have buy ratings and 1 analyst has a hold rating. The street high sits at C$15.50, or a 54% upside from Stifel-GMP. While the lowest 12-month price target is C$11.75.

In BMO Capital Markets’ note, they reiterated their C$14.00 12-month price target and Outperform rating on Lundin Gold, saying that the company had strong fourth-quarter production.

For the fourth quarter Lundin Gold produced 107,900 ounces, beating BMO’s 104,600 ounces, and they note that the companies throughput and recovery rates have been steadily increasing each quarter in 2021.

Though the full year beat was unexpected by many, BMO believes that this was expected due to the strong production at Fruta del Norte with their throughput increasing 4,200 tonnes per day. Additionally, they expect Lundin Gold to come in at their own guidance for all-in sustaining costs.

Lastly, BMO believes that Fruta del Norte has started to accumulate high-grade stockpiles, which has only started in the last quarter or two. They believe that the building “of modest stockpiles as a positive for the mining operation.”

Below you can see BMO’s updated fourth quarter, 2021, and 2022 estimates.


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

The post Lundin Gold Sees BMO Reiterate $14 Price Target After Production Beat appeared first on the deep dive.



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Author: Justin Young

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