Gold is re-starting its bull rally as two major obstacles — higher US Treasury yields and Bitcoin — fizzle.
“Strong headwinds from parabolic Bitcoin and rising bond yields appear to have run their course,” Bloomberg Intelligence senior commodity strategist Mike McGlone said in a note.
“Weaker-than-consensus April and May U.S. unemployment reports [also] support our key takeaway that gold and silver are ripe to resume their bull markets.
“About $US2,000 is key gold resistance, which we expect to eventually be breached.”
Oil prices indicate gold is due a breakout
Gold and oil usually (not always) rise and fall in loose tandem.
The belief is that rising oil prices push up inflation, increasing demand for gold as an investment hedge.
Right now, gold is running at “an unsustainably steep discount” to crude oil which is booming, according to Bloomberg Intelligence.
“It’s the battle between the most significant commodity with low elasticity of supply, gold, vs. a highest, crude oil, and we expect trend resumption favouring the metal,” McGlone says.
Winners & Losers
Here’s how ASX-listed gold & silver stocks are performing:
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop
|CODE||COMPANY||1 WEEK RETURN %||1 MONTH RETURN %||6 MONTH RETURN %||1 YEAR RETURN %||PRICE||MARKET CAP|
|TRN||Torrens Mining||77||90||0.275||$ 18,418,033.26|
|STK||Strickland Metals||32||78||-2||181||0.041||$ 27,204,343.76|
|XTC||Xantippe Res||25||0||0||0||0.0025||$ 10,186,411.01|
|ADN||Andromeda Metals||25||35||-14||310||0.25||$ 561,789,235.02|
|SPQ||Superior Resources||18||13||-24||160||0.013||$ 16,576,029.49|
|MM8||Medallion Metals.||17||35||0.345||$ 25,659,005.12|
|THR||Thor Mining PLC||17||40||17||250||0.021||$ 11,796,977.64|
|PUA||Peak Minerals||15||5||-26||64||0.023||$ 13,523,458.34|
|RED||Red 5 Limited||15||-5||-17||-32||0.195||$ 434,069,800.70|
|ADT||Adriatic Metals||14||11||39||100||2.84||$ 517,169,492.76|
|PKO||Peako Limited||14||11||68||246||0.042||$ 8,258,329.61|
|IPT||Impact Minerals||13||0||-15||21||0.017||$ 32,380,718.70|
|ARL||Ardea Resources||13||17||32||77||0.5825||$ 66,388,702.64|
|AAU||Antilles Gold||13||11||24||53||0.071||$ 18,424,366.92|
|RDN||Raiden Resources||11||15||-3||400||0.03||$ 37,581,398.61|
|CHZ||Chesser Resources||10||10||-26||90||0.16||$ 72,400,340.00|
|REZ||Resourc & En Grp||10||-16||-36||100||0.032||$ 13,813,785.25|
|VRC||Volt Resources||9||40||218||67||0.035||$ 83,311,483.54|
|WWI||West Wits Mining||9||16||62||755||0.094||$ 123,292,963.64|
|KTA||Krakatoa Resources||9||-2||-13||67||0.06||$ 16,179,100.00|
|GML||Gateway Mining||9||4||-23||85||0.024||$ 43,783,618.80|
|MSR||Manas Res||9||71||100||140||0.012||$ 36,471,859.58|
|KCC||Kincora Copper||8||-3||0.32||$ 22,587,486.68|
|SAU||Southern Gold||8||-11||-27||-47||0.08||$ 16,426,314.21|
|AL8||Alderan Resource||8||-20||-40||-55||0.056||$ 17,578,524.43|
|MVL||Marvel Gold Limited||8||4||8||135||0.057||$ 30,009,999.42|
|AQX||Alice Queen||7||-11||-41||-30||0.016||$ 19,785,386.32|
|VAN||Vango Mining||6||-6||-14||-33||0.067||$ 69,231,622.67|
|BBX||BBX Minerals||6||-4||0||150||0.275||$ 115,907,252.64|
|GSM||Golden State Mining||6||48||-8||-29||0.185||$ 13,239,737.28|
|GWR||GWR Group||6||-15||16||332||0.285||$ 86,294,136.26|
|EM2||Eagle Mountain||5||-2||189||590||1.07||$ 210,695,355.15|
|ALK||Alkane Resources||5||16||7||11||1.05||$ 595,388,800.00|
|NML||Navarre Minerals||5||-16||-46||-30||0.105||$ 64,624,215.10|
|E2M||E2 Metals||5||2||-50||144||0.33||$ 49,552,273.98|
|LEX||Lefroy Exploration||4||50||574||558||1.315||$ 151,212,180.42|
|BNR||Bulletin Res||4||6||-11||-14||0.073||$ 12,550,515.18|
|GTR||Gti Resources||4||4||4||-38||0.025||$ 14,823,913.95|
|DRE||Drednought Resources||4||-7||14||317||0.025||$ 56,770,710.50|
|HWK||Hawkstone Mng||3||-14||210||288||0.031||$ 49,076,799.21|
|RXL||Rox Resources||3||-11||-38||29||0.031||$ 73,287,539.49|
|TIN||Tnt Mines Limited||3||-9||-47||-11||0.155||$ 14,945,596.00|
|PF1||Pathfinder Resources||3||47||17||0.315||$ 15,663,119.85|
|WGX||Westgold Resources.||3||5||-11||10||2.27||$ 940,958,699.40|
|HCH||Hot Chili||3||9||-12||90||0.038||$ 117,958,442.18|
|BMO||Bastion Minerals||3||5||0.2||$ 11,490,852.00|
|RND||Rand Mining||3||1||-23||-29||1.435||$ 81,617,004.04|
|MAT||Matsa Resources||2||0||-28||-33||0.083||$ 24,329,131.37|
|PRU||Perseus Mining||2||13||28||28||1.46||$ 1,704,775,049.30|
|CBY||Canterbury Resources||2||-3||-8||3||0.097||$ 10,850,924.11|
|CWX||Carawine Resources||2||-16||-2||36||0.245||$ 26,133,576.48|
|AXE||Archer Materials||2||-4||35||25||0.75||$ 165,006,678.58|
|KRM||Kingsrose Mining||2||-5||82||46||0.06||$ 43,800,441.12|
|KCN||Kingsgate Consolid.||2||6||11||114||0.9||$ 196,816,567.80|
|RRL||Regis Resources||1||-2||-25||-46||2.65||$ 1,930,293,532.16|
|AME||Alto Metals Limited||1||-9||-4||28||0.091||$ 40,523,376.15|
|DCN||Dacian Gold||1||-18||-18||-41||0.2825||$ 254,975,160.16|
|MAU||Magnetic Resources||1||8||27||32||1.51||$ 329,215,469.90|
|MML||Medusa Mining||1||15||21||40||0.935||$ 193,322,169.93|
|MDI||Middle Island Res||0||-23||-62||-71||0.1||$ 12,119,403.98|
|KWR||Kingwest Resources||0||-8||-43||-35||0.092||$ 18,182,447.19|
|MRZ||Mont Royal Resources||0||-17||0||71||0.3||$ 11,363,014.50|
|TMX||Terrain Minerals||0||0||-17||100||0.01||$ 6,621,849.08|
|SBR||Sabre Resources||0||-17||-44||25||0.005||$ 8,415,318.25|
|BTR||Brightstar Resources||0||0||-35||600||0.035||$ 15,391,276.74|
|SI6||SI6 Metals Limited||0||0||-72||200||0.012||$ 15,325,862.90|
|DLC||Delecta Limited||0||0||0||20||0.006||$ 6,051,727.23|
|HAW||Hawthorn Resources||0||4||-43||-49||0.052||$ 17,342,811.88|
|AWV||Anova Metals||0||0||-19||-9||0.021||$ 30,094,978.20|
|GED||Golden Deeps||0||9||-14||50||0.012||$ 9,298,217.28|
|GBZ||GBM Rsources||0||12||0||109||0.14||$ 60,654,465.48|
|OKU||Oklo Resources||0||-4||-43||-55||0.125||$ 60,483,577.44|
|RML||Resolution Minerals||0||-11||-37||-67||0.024||$ 10,744,310.74|
|ENR||Encounter Resources||0||21||-3||35||0.175||$ 56,836,174.14|
|AWJ||Auric Mining||0||-9||0.155||$ 6,276,389.89|
|AUC||Ausgold Limited||0||16||13||183||0.051||$ 77,682,127.51|
|NVA||Nova Minerals||0||0||-12||142||0.145||$ 257,756,730.29|
|ARN||Aldoro Resources||0||5||139||353||0.335||$ 28,110,671.05|
|BRV||Big River Gold||0||10||-4||52||0.4||$ 87,732,281.20|
|MCT||Metalicity Limited||0||-8||-33||-14||0.012||$ 21,492,768.85|
|AYM||Australia United Min||0||-22||-22||250||0.007||$ 12,898,042.40|
|CTO||Citigold Corp||0||0||-15||120||0.011||$ 30,580,000.00|
|NPM||Newpeak Metals||0||-20||-33||-33||0.002||$ 11,408,322.60|
|MLS||Metals Australia||0||-33||33||100||0.002||$ 8,454,376.09|
|LNY||Laneway Res||0||0||-29||25||0.005||$ 18,875,329.67|
|KGM||Kalnorth Gold||0||0||0||63||0.013||$ 11,625,120.78|
|DDD||3D Resources Limited||0||0||34||102||0.005||$ 19,401,860.46|
|FML||Focus Minerals||0||-3||-13||26||0.29||$ 52,083,341.03|
|MBK||Metal Bank||0||-9||-17||16||0.01||$ 10,701,614.74|
|A8G||Australasian Gold||0||0.17||$ 5,463,965.27|
|GOR||Gold Road Res||0||7||25||1||1.505||$ 1,272,872,521.91|
|HMX||Hammer Metals||0||16||214||224||0.11||$ 84,698,514.50|
|TMZ||Thomson Res||0||21||48||529||0.145||$ 67,160,738.95|
|TNR||Torian Resources||0||-42||14||23||0.033||$ 27,820,388.86|
|AVW||Avira Resources||0||-14||-25||100||0.006||$ 8,250,240.00|
|DCX||Discovex Res||0||8||-7||18||0.0065||$ 16,696,316.49|
|NST||Northern Star||0||1||-7||-12||11.45||$ 12,809,502,134.19|
|NCM||Newcrest Mining||-1||-1||3||-2||27.885||$ 22,467,293,633.08|
|TBR||Tribune Res||-1||-2||-17||-23||4.96||$ 270,210,596.55|
|WRM||White Rock Min||-1||34||14||21||0.605||$ 52,373,849.58|
|CYL||Catalyst Metals||-1||-5||-23||-27||1.98||$ 194,134,052.93|
|HXG||Hexagon Energy||-1||-22||28||48||0.086||$ 37,911,175.30|
|GUL||Gullewa Limited||-1||0||-18||32||0.086||$ 15,684,086.60|
|LCL||Los Cerros Limited||-1||-7||73||342||0.1725||$ 80,494,580.44|
|OZM||Ozaurum Resources||-2||5||0.1575||$ 8,193,150.00|
|AAJ||Aruma Resources||-2||-3||-30||5||0.063||$ 6,675,538.40|
|G88||Golden Mile Res||-2||-32||22||50||0.06||$ 8,401,099.68|
|M24||Mamba Exploration||-2||13||0.255||$ 9,250,000.00|
|ZNC||Zenith Minerals||-2||-14||75||188||0.245||$ 70,646,407.20|
|PNM||Pacific Nickel Mines||-2||-2||-16||29||0.049||$ 10,529,856.76|
|CST||Castile Resources||-2||-10||-15||74||0.235||$ 46,931,878.44|
|SBM||St Barbara Limited||-2||-11||-25||-39||1.84||$ 1,277,982,939.15|
|KSN||Kingston Resources||-2||12||-23||48||0.23||$ 65,259,497.58|
|MKG||Mako Gold||-2||-14||-25||22||0.09||$ 23,666,227.38|
|TBA||Tombola Gold||-2||-8||-4||38||0.044||$ 24,389,014.28|
|MEU||Marmota Limited||-2||-2||-6||-20||0.044||$ 43,584,016.05|
|AMI||Aurelia Metals||-2||-5||0||-9||0.41||$ 506,243,348.75|
|RMS||Ramelius Resources||-3||2||17||15||1.9||$ 1,485,581,510.45|
|IDA||Indiana Resources||-3||-13||31||212||0.077||$ 23,769,617.87|
|ZAG||Zuleika Gold||-3||3||-38||41||0.038||$ 15,173,454.80|
|PGD||Peregrine Gold||-3||0||0.36||$ 9,876,647.76|
|KAI||Kairos Minerals||-3||29||-8||48||0.036||$ 58,676,435.09|
|AZS||Azure Minerals||-3||-18||-64||222||0.2675||$ 81,642,716.07|
|BCN||Beacon Minerals||-3||3||5||5||0.035||$ 129,006,941.22|
|GRL||Godolphin Resources||-3||-8||-35||-6||0.17||$ 14,298,771.74|
|CAI||Calidus Resources||-3||25||-7||3||0.495||$ 193,965,248.30|
|LCY||Legacy Iron Ore||-3||3||121||417||0.0155||$ 96,071,077.76|
|SVL||Silver Mines Limited||-3||7||55||213||0.31||$ 347,040,797.74|
|CMM||Capricorn Metals||-3||4||22||20||1.995||$ 693,038,568.42|
|KAU||Kaiser Reef||-3||3||-27||15||0.3||$ 28,558,464.43|
|EMR||Emerald Res NL||-3||5||60||110||1.03||$ 530,859,123.21|
|AGS||Alliance Resources||-3||-9||-15||1||0.145||$ 30,162,484.43|
|KZR||Kalamazoo Resources||-3||-4||-23||-30||0.43||$ 57,394,523.79|
|CAZ||Cazaly Resources||-3||0||12||90||0.057||$ 19,586,853.15|
|STN||Saturn Metals||-3||1||-37||-18||0.425||$ 47,797,416.75|
|EVN||Evolution Mining||-3||0||4||-4||5.08||$ 8,440,815,399.90|
|YRL||Yandal Resources||-3||-7||24||96||0.56||$ 54,398,478.18|
|SKY||SKY Metals||-4||-13||-33||-56||0.135||$ 34,530,975.92|
|BGL||Bellevue Gold||-4||-17||-40||-8||0.805||$ 659,334,801.51|
|SSR||SSR Mining Inc.||-4||4||-8||22.86||$ 421,790,789.64|
|AQI||Alicanto Min||-4||0||8||91||0.13||$ 42,622,769.93|
|BDC||Bardoc Gold||-4||-7||-4||-20||0.07||$ 119,732,758.94|
|MRR||Minrex Resources||-4||-8||5||120||0.022||$ 12,125,015.21|
|WMX||Wiluna Mining Corp||-4||1||-35||-40||0.99||$ 154,321,519.95|
|PNR||Pantoro Limited||-4||0||0||5||0.22||$ 309,847,610.16|
|TTM||Titan Minerals||-4||0||-8||69||0.11||$ 131,037,029.91|
|AAR||Anglo Australian||-4||-13||-39||-31||0.086||$ 50,654,721.02|
|BAR||Barra Resources||-5||-13||-28||24||0.021||$ 14,907,378.22|
|IVR||Investigator Res||-5||8||94||518||0.105||$ 131,070,714.09|
|NUS||Nusantara Resources||-5||19||2||-2||0.315||$ 72,220,997.21|
|TLM||Talisman Mining||-5||5||110||83||0.21||$ 41,058,244.70|
|FFR||Firefly Resources||-5||-5||-28||201||0.1||$ 30,733,953.00|
|BAT||Battery Minerals||-5||0||-5||233||0.02||$ 40,825,470.82|
|AOP||Apollo Consolidated||-5||-11||-11||-2||0.285||$ 82,541,868.15|
|NWM||Norwest Minerals||-5||18||0||-49||0.094||$ 9,795,616.11|
|CEL||Challenger Exp||-5||-22||30||12||0.28||$ 198,244,136.44|
|GMN||Gold Mountain||-5||-8||-10||-26||0.037||$ 28,405,822.19|
|RSG||Resolute Mining||-5||0||-26||-49||0.545||$ 574,024,207.12|
|BRB||Breaker Res NL||-5||-8||-10||-24||0.175||$ 55,392,957.93|
|TAM||Tanami Gold NL||-5||-19||-12||30||0.069||$ 84,606,987.31|
|CGN||Crater Gold Min||-6||-6||-11||89||0.017||$ 20,867,429.74|
|CHN||Chalice Mining||-6||10||106||762||8.66||$ 2,951,756,414.43|
|DGO||DGO Gold Limited||-6||-5||17||25||3.38||$ 246,398,355.80|
|TIE||Tietto Minerals||-6||14||-23||-20||0.33||$ 150,541,200.48|
|DEX||Duke Exploration||-6||5||4||0.41||$ 22,023,009.02|
|MGV||Musgrave Minerals||-6||9||-5||-2||0.405||$ 218,621,409.09|
|FAU||First Au||-6||-20||-6||23||0.016||$ 9,834,060.06|
|PRS||Prospech Limited||-6||14||-32||0||0.16||$ 10,403,294.24|
|GBR||Greatbould Resources||-6||-22||105||279||0.094||$ 33,178,800.33|
|CDT||Castle Minerals||-6||7||67||67||0.015||$ 10,987,512.27|
|ALY||Alchemy Resource||-6||-12||-12||18||0.015||$ 9,411,408.34|
|MOH||Moho Resources||-6||-6||-25||-1||0.075||$ 7,745,655.15|
|ERM||Emmerson Resources||-6||4||-6||-34||0.073||$ 36,371,409.70|
|SLR||Silver Lake Resource||-7||-10||-1||-9||1.76||$ 1,494,270,158.93|
|CY5||Cygnus Gold Limited||-7||-7||-22||122||0.14||$ 15,178,813.72|
|AGG||AngloGold Ashanti||-7||0||-3||-20||5.73||$ 512,944,648.75|
|CXU||Cauldron Energy||-7||-3||3||56||0.039||$ 18,239,980.48|
|MHC||Manhattan Corp||-7||-19||-54||8||0.013||$ 19,841,623.01|
|CLA||Celsius Resource||-7||-15||-11||225||0.039||$ 39,794,667.08|
|SLZ||Sultan Resources||-7||-10||11||79||0.26||$ 18,078,941.14|
|TRM||Truscott Mining Corp||-7||-4||39||92||0.025||$ 3,423,538.60|
|SIH||Sihayo Gold Limited||-8||-14||-33||-22||0.012||$ 44,225,536.96|
|NXM||Nexus Minerals||-8||-17||-41||66||0.083||$ 20,752,892.04|
|GIB||Gibb River Diamonds||-8||8||-60||75||0.07||$ 15,228,680.04|
|PUR||Pursuit Minerals||-8||38||281||1127||0.08||$ 73,750,713.28|
|NES||Nelson Resources.||-8||-36||-28||23||0.057||$ 8,291,971.94|
|BC8||Black Cat Syndicate||-8||-11||0||9||0.68||$ 93,624,750.45|
|WAF||West African Res||-8||-2||9||6||1.005||$ 847,840,792.32|
|SMI||Santana Minerals||-8||-24||-39||-48||0.11||$ 12,543,589.96|
|XAM||Xanadu Mines||-8||-32||33||2||0.044||$ 53,991,563.25|
|AUT||Auteco Minerals||-9||-9||-12||69||0.086||$ 143,377,388.50|
|DEG||De Grey Mining||-9||-3||39||126||1.435||$ 1,815,845,970.71|
|NMR||Native Mineral Res||-9||-13||-50||0.265||$ 8,572,016.25|
|SVY||Stavely Minerals||-9||-22||-39||-12||0.52||$ 138,309,569.56|
|MZZ||Matador Mining||-9||26||56||81||0.515||$ 92,097,620.68|
|RMX||Red Mount Min||-9||0||-17||150||0.01||$ 13,196,636.13|
|GMR||Golden Rim Resources||-9||-5||0||25||0.01||$ 28,038,671.63|
|PAK||Pacific American Hld||-9||-13||-9||100||0.02||$ 6,371,698.00|
|A1G||African Gold .||-9||-4||11||167||0.25||$ 25,594,196.32|
|PDI||Predictive Disc||-9||9||79||15||0.1||$ 126,849,175.50|
|RVR||Red River Resources||-9||-1||-13||156||0.2225||$ 113,910,360.74|
|S2R||S2 Resources||-9||-19||-19||26||0.145||$ 44,084,765.06|
|VMC||Venus Metals Cor||-10||9||-17||12||0.19||$ 30,971,130.02|
|GSN||Great Southern||-10||-11||-31||-53||0.047||$ 21,385,959.74|
|DTM||Dart Mining NL||-10||-7||-28||86||0.14||$ 13,992,366.64|
|NAG||Nagambie Resources||-10||-17||47||-3||0.063||$ 31,495,737.80|
|TSC||Twenty Seven Co.||-10||-10||-25||-25||0.0045||$ 10,642,758.24|
|ICG||Inca Minerals||-10||13||141||603||0.135||$ 53,446,112.59|
|TSO||Tesoro Resources||-10||-21||-44||110||0.1575||$ 74,928,602.25|
|MEI||Meteoric Resources||-11||-9||-19||168||0.051||$ 68,369,160.03|
|MTH||Mithril Resources||-11||-6||-16||14||0.016||$ 35,253,495.62|
|WCN||White Cliff Min||-11||-11||-38||60||0.016||$ 8,275,142.38|
|BYH||Bryah Resources||-11||-18||8||19||0.07||$ 11,185,376.07|
|ARV||Artemis Resources||-11||-35||-54||59||0.062||$ 69,342,623.34|
|VKA||Viking Mines||-12||3||-9||285||0.03||$ 31,659,011.36|
|SFM||Santa Fe Minerals||-12||-9||-6||47||0.088||$ 6,408,053.43|
|MKR||Manuka Resources.||-12||-10||-17||0.36||$ 34,704,884.52|
|OBM||Ora Banda Mining||-12||-8||-35||-33||0.18||$ 143,177,732.69|
|DTR||Dateline Resources||-13||-4||92||92||0.096||$ 36,644,291.40|
|PRX||Prodigy Gold NL||-13||-4||0||-4||0.048||$ 27,870,125.09|
|HRN||Horizon Gold||-13||16||2||91||0.43||$ 45,877,566.88|
|SRN||Surefire Rescs NL||-14||-24||-57||375||0.019||$ 20,780,497.79|
|ASO||Aston Minerals||-14||23||400||414||0.19||$ 176,526,524.37|
|SNG||Siren Gold||-15||26||-64||0.29||$ 17,062,288.10|
|OKR||Okapi Resources||-15||-5||-2||43||0.2||$ 10,669,726.20|
|PNX||PNX Metals Limited||-15||21||21||-6||0.0085||$ 32,869,741.60|
|ANX||Anax Metals||-15||-15||33||233||0.085||$ 30,115,814.54|
|OAU||Ora Gold Limited||-17||-13||-9||33||0.02||$ 18,526,094.88|
|NAE||New Age Exploration||-19||-28||8||160||0.013||$ 18,220,057.83|
|RDS||Redstone Resources||-20||45||23||129||0.016||$ 11,503,985.01|
|TRY||Troy Resources||-20||-49||-61||-59||0.036||$ 26,514,731.88|
|EMU||EMU NL||-21||-39||-33||82||0.031||$ 14,608,463.49|
|GNM||Great Northern||-22||56||-7||8||0.014||$ 20,553,866.59|
|ANL||Amani Gold||-25||-25||50||0||0.0015||$ 18,580,495.12|
|TAR||Taruga Minerals||-33||-39||39||221||0.061||$ 30,328,590.36|
SMALL CAP STANDOUTS
The junior joint venture partners hit 200m of “intense IOCG alteration”, including ~50m of copper sulphides in its first deep exploration hole at the ‘Elizabeth Creek’ project in South Australia.
Iron oxide copper gold ore deposits (IOCG) — like BHP’s Olympic Dam mine or more recent Oak Dam discovery — can be tremendously large, and simple-to-process concentrations of copper, gold and other economic minerals.
Renegade Exploration (ASX:RNX) will sell its ‘Yandal East’ project JV interest to fellow gold explorer Strickland for $800,000 cash, 40m shares and a 0.5% net smelter royalty on any future production.
For Strickland, this acquisition represents a major extension to its flagship ‘Horse Well project, ~30km from Northern Star’s (ASX:NST) 10moz Jundee operation.
This emerging gold producer hit thick, high grades — including 6m grading 11.34 grams per tonne (g/t) gold from 74m – at ‘Viper’, part of the flagship Morila project in Mali.
“These are outstanding results. The scale of the mineralised system at Viper continues to grow with each drillhole,” managing director Dr Michael Anderson says.
“The delineation of surface mineralisation in the southern part of the deposit will provide another source of early oxide feed as we ramp up the Morila plant.”
Commencement of mining at Viper has been “expedited” with early works already underway and mining expected to begin in the coming weeks.
The post Gold Digger: Sizzling oil prices suggest gold will hit US$2000/oz soon appeared first on Stockhead.
O2Gold Shares Rise 7.14% After Reporting Intersects 20.11 g/t Gold Over 0.7 Metres At Aurora
O2Gold (TSXV: OTGO) last night reported on its first drill results from its Aurora Property in Colombia…
O2Gold Shares Rise 7.14% After Reporting Intersects 20.11 g/t Gold Over 0.7 Metres At Aurora
O2Gold (TSXV: OTGO) last night reported on its first drill results from its Aurora Property in Colombia. The firm had previously halted trading in its equity due to the assay results received.
The first drill hole reported by the company comes from the Aurora Tunnel within the Main Aurora Vein, where O2Gold encounter 20.11 g/t gold and 3.30 g/t silver over 0.7 metres, within a larger interval of 9.19 g/t gold and 1.89 g/t silver over 1.6 metres. Mineralization was encountered at just 97.4 metres of depth.
The hole, referred to as AUR-21-001, also encountered 12.30 g/t silver over 3 metres, at a depth of just 8.70 metres within fragmented quartz veins. The hole was drilled to a total depth of 220 metres.
The hole marks the first within an ongoing 8,000 metre drill campaign, which currently has two drills turning on the firms property. Four holes have been completed to date, with assays pending on three holes presently.
O2Gold last traded at $0.21 on the TSX Venture.
Information for this briefing was found via Sedar and O2Gold Inc. The author is currently long the equity. 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 O2Gold Intersects 20.11 g/t Gold Over 0.7 Metres At Aurora appeared first on the deep dive.
Top Silver Stocks To Watch This Week
Will These Silver Stocks Go Up? The market for silver stocks has…
The post Top Silver Stocks To Watch This Week appeared first on Gold Stocks to Buy,…
Will These Silver Stocks Go Up?
The market for silver stocks has been quite an interesting one to watch in the market in recent times. The pandemic caused silver assets to skyrocket in price throughout the last year and a half. The percentage gains for many silver assets were higher than gold stocks. This brought a lot of new investors to the metal that may have overlooked it before. One other recent event also brought a lot of new people to silver investing. You have certainly heard of the GameStop situation where Reddit traders boosted the price of the stock.
Well in early February the same thing happened to silver prices as a result of retail traders according to the mainstream media. But Reddit traders quickly stated that it was not their doing. This caused the price of the metal to pull back. What this did do, was attract a lot of new eyes and investors to silver related assets. The price of silver has been able to remain relatively stable at the moment.
So what else is affecting silver prices? Jobless reports often affect the price of silver and gold. It will be interesting to see the effect that unemployment and the economy has on the metal in the future. There are many great silver stocks to watch at the moment despite the volatility in the market. Let’s take a look at four silver stocks that show market potential right now.
Top Silver Stocks To Watch
- First Majestic Silver Corp. (NYSE: AG)
- Fortuna Silver Mines Inc. (NYSE: FSM)
- Endeavour Silver Corp. (NYSE: EXK)
First Majestic Silver Corp. (NYSE: AG)
First Majestic Silver Corp. is a mining company that primarily focuses on acquisition of land, exploration, development, and production of mineral assets. The company’s biggest projects include silver production in Mexico. Currently, First Majestic has 100% interest in the San Simas mine, Santa Elena mine, and holds interest a variety of other land too.
On August 16th, First Majestic reported its second quarter financial results for 2021. The company’s revenue achieved a new record, at $154.1 million. Its average realized silver price per ounce increased quarter over quarter as well.
President and CEO Keith Neumeyer said, “As a result of the higher revenues, our quarterly dividend increased by approximately 33% when compared to the prior quarterly payment. The mining units generated $29.4 million in mine operating earnings due to strong production and higher realized metal prices.” With this in mind, is AG stock a contender for your list of silver stocks to watch?
Fortuna Silver Mines Inc. (NYSE: FSM)
Fortuna Silver Mines Inc. is a mining corporation with a focus on exploration, extraction, and processing of precious metals. It actively explores for gold, silver, zinc, and lead. Its main properties include the Caylloma and San Jose mines, as well as the Lindero gold project in Argentina.
On June 28th, Fortuna and Roxgold Inc. announced a business combination. President and CEO of Fortuna Jorge A. Ganoza said, “The successfully completed business combination creates a low-cost intermediate gold and silver producer with four operating mines and a permitted development project. The company will benefit from a robust exploration pipeline and expanded presence in the Americas and West Africa, two of the fastest growing precious metals producing regions in the world.”
On September 20th, the company announced changes in its management team. David Volkert retired as the VP of Exploration in Latin America, which goes into effect on September 30th. Other than this, the company has not released a large amount of recent updates. So now it will be interesting to see where FSM stock goes from here. Will you add FSM to your silver stock watchlist?
Endeavour Silver Corp. (NYSE: EXK)
Endeavour Silver Corp. is a silver stock that just went up in the market. This company acquires land, explores it, and develops it. Endeavour works on the processing, refining, and reclamation at its mineral properties. Most of Endeavour’s primary assets are located in both Mexico and Chile. Endeavour for the most part only searches for silver and gold at its mines.
Back in August, the company announced its second-quarter financial results. The CEO of the company, Dan Dickson said, “From a financial standpoint, our Q2 performance was stronger than the respective period last year, as revenue, cash flow and earnings were all higher. However, our operating costs are clearly not where we want them to be. We are working to optimize our operating cost profile in the second half of 2021.”
Endeavour’s metal production grew 80% during the quarter, and its gold production grew 92%. These numbers were in line with Endeavour’s guidance for the year. Its net revenue in the second quarter was up 136% to $47.7 million. Now the company has completed the acquisition of the Bruner Gold Project in Nye County, Nevada. With this in mind, will you add EXK to your mining stock list?
Silver Stocks To Watch
There are plenty of silver stocks to watch in the market in 2021. Some think that there is not an opportunity to invest in silver stocks at the moment, but there are still many companies with potential in the market.
The post Top Silver Stocks To Watch This Week appeared first on Gold Stocks to Buy, Picks, News and Information | GoldStocks.com.
Inca One Gold Posts Record Production Figures For August 2021
Records continue to be beat by Inca One Gold (TSXV: INCA), whom this morning reported its best-ever processing results. The
The post Inca One Gold Posts…
Records continue to be beat by Inca One Gold (TSXV: INCA), whom this morning reported its best-ever processing results. The firm managed to post record production for the month of August, with production improving 163% on a year over year basis.
Production in August hit 6,838 tonnes, or 221 tonnes per day, the best ever monthly performance for the company. Production occurred at both of the firms plants, and beat the previous record of 6,581 tonnes.
Gold produced came in at 2,309 ounces, while ore deliveries amounted to 6,982 tonnes – which points to the potential for a very strong September for the company as well. Gold production was up 57% year over year, while deliveries improved 131%.
“It validates our business model and operational aptitude that we were able to so quickly and effectively deploy the working capital received from our second Gold Prepayment Facility received in the first week of August,” commented CEO Ed Kelly. “The Company, now armed with sufficient working capital, its only 10% off its record processing pace set in 2018,” he continued.
The results continue to be driven by the working capital the firm was able to access via a $9.0 million gold pre-payment facility. A similar facility drove record results for the firm in the months of May and July earlier this year, with the working capital expected to continue to provide strong results for the firm on a go-forward basis.
Inca One Gold last traded at $0.34 on the TSX Venture.
FULL DISCLOSURE: Inca One Gold Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Inca One Gold Corp 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 Inca One Gold Posts Record Production Figures For August 2021 appeared first on the deep dive.tsx tsxv gold
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