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Hot Oil Prices Suggest Gold Will Hit US$2000/oz Soon

Gold is re-starting its bull rally as two major obstacles — higher US Treasury yields and Bitcoin — fizzle. “Strong … Read More
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This article was originally published by Stockhead.

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.

Gold Prices (blue) vs Oil Prices (orange) since the 1970s. Pic: macrotrends.net/

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
FFX Firefinch 17 14 193 340 0.44 $ 333,642,100.30
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
MTC Metalstech 6 104 21 65 0.255 $ 39,223,497.69
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
ADV Ardiden 5 -5 -38 163 0.0105 $ 21,493,542.16
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
HRZ Horizon 4 17 17 29 0.135 $ 70,996,900.00
HWK Hawkstone Mng 3 -14 210 288 0.031 $ 49,076,799.21
AGC AGC 3 11     0.155 $ 10,497,729.02
AGC AGC 3 11     0.155 $ 10,497,729.02
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
RGL Riversgold 0 -8 5 2 0.044 $ 17,777,856.62
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
BNZ Benzmining -1 11     0.9 $ 34,136,451.90
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
ONX Orminex -6 -13 92 17 0.048 $ 26,845,766.47
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
NSM Northstaw -6 -6 -36   0.29 $ 11,800,000.00
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
M2R Miramar -7 -19 -41   0.195 $ 8,234,366.40
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
MEG Megado -14 -24 -29   0.125 $ 5,303,843.74
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

CODA MINERALS (ASX:COD) & TORRENS MINING (ASX:TRN)

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.

 

STRICKLAND METALS (ASX:STK)

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.

 

FIREFINCH (ASX:FFX)

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.

Precious Metals

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…

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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.

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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,…

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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

  1. First Majestic Silver Corp. (NYSE: AG)
  2. Fortuna Silver Mines Inc. (NYSE: FSM)
  3. 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.

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Precious Metals

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
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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.

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