Gold Digger: Buffett’s big Barrick bet bolsters believers

The gold price may be taking a breather in the $US1,900/oz’s, but moves by legendary investor Warren Buffett indicate this could be a temporary blip.

Experts believe Berkshire Hathaway’s recent investment in Canadian gold miner Barrick  shows Buffett is taking steps to protect his other investments from inflation.

“Berkshire Hathaway, in taking a stake in Barrick Gold, is an apparent about-face on his previous view on the commodity, and it implies he is positive on inflation expectations. Gold ultimately is an inflation hedge,” Ausbil global resources fund portfolio manager Luke Smith said.

In terms of the best bang for an investor’s buck, gold equities tend to do better than physical gold in a bullish gold environment.

“Gold equities perform better than direct investments in gold through bull cycles, and we are likely to see ongoing interest in gold equities,” Smith said.

And there’s more good news for explorers — major miners are running out of gold reserves, which could lead to increased merger and acquisition activity.

Are there stocks missing from our list? Email [email protected] >>>

USD (yellow) and AUD (orange) gold prices over the past 12 months.

Winners & Losers

Here’s how ASX-listed gold stocks performed for the period August 31–September 04 [intraday]:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

CODE NAME 1 WEEK TOTAL RETURN 1 YEAR TOTAL RETURN PRICE [INTRADAY FRIDAY MARKET CAP
GWR GWR GROUP 187 136 0.215 $ 54,759,688.00
ADV ARDIDEN 53 767 0.024 $ 39,523,552.00
MLL MALI LITHIUM 50 87 0.195 $ 61,882,880.00
SBR SABRE RESOURCES 50 80 0.009 $ 8,754,524.00
DRE DREADNOUGHT RESOURCES 36 114 0.013 $ 29,341,864.00
NVA NOVA MINERALS 35 15 0.068 $ 95,422,672.00
SMI SANTANA MINERALS 33 33 0.004 $ 10,735,782.00
CHZ CHESSER RESOURCES 29 233 0.205 $ 73,895,744.00
CDV CARDINAL RESOURCES 29 92 0.93 $ 483,942,560.00
DEG DE GREY MINING 28 2159 1.33 $ 1,572,608,640.00
SLZ SULTAN RESOURCES 25 310 0.23 $ 14,656,325.00
CXU CAULDRON ENERGY 25 106 0.035 $ 13,170,144.00
SKY SKY METALS 24 63 0.16 $ 44,210,660.00
STK STRICKLAND METALS 24 107 0.059 $ 25,032,092.00
WMX WILUNA MINING 19 14 1.41 $ 152,714,496.00
BBX BBX MINERALS 19 24 0.26 $ 114,768,968.00
GNM GREAT NORTHERN MINERALS 19 25 0.022 $ 18,909,098.00
RND RAND MINING 18 -19 2.06 $ 126,311,800.00
VKA VIKING MINES 17 8 0.013 $ 4,392,050.00
AAJ ARUMA RESOURCES 17 17 0.006 $ 7,975,897.50
CGN CRATER GOLD MINING 17 -7 0.014 $ 17,184,942.00
RXL ROX RESOURCES 15 110 0.061 $ 134,694,672.00
RMX RED MOUNTAIN MINING 14 60 0.008 $ 7,091,257.50
TLM TALISMAN MINING 14 -4 0.115 $ 22,395,406.00
RED RED 5 14 -4 0.3225 $ 627,068,736.00
MHC MANHATTAN CORP 14 925 0.039 $ 54,377,428.00
DGO DGO GOLD 14 397 3.61 $ 224,603,840.00
KCN KINGSGATE CONSOLIDATED 14 89 0.665 $ 135,735,568.00
MTH MITHRIL RESOURCES 13 767 0.048 $ 110,614,984.00
NAE NEW AGE EXPLORATION 13 200 0.008 $ 8,887,804.00
CLA CELSIUS RESOURCES 12 6 0.019 $ 14,043,925.00
ADN ANDROMEDA METALS 11 2 0.048 $ 76,067,040.00
AAR ANGLO AUSTRALIAN RESOURCES 11 208 0.2 $ 88,906,512.00
RDS REDSTONE RESOURCES 10 156 0.02 $ 10,402,600.00
GBR GREAT BOULDER RESOURCES 9 -7 0.049 $ 9,308,745.00
RMS RAMELIUS RESOURCES 8 64 2.15 $ 1,722,061,312.00
RML RESOLUTION MINERALS 8 35 0.069 $ 18,445,072.00
WAF WEST AFRICAN RESOURCES 8 111 1.035 $ 884,613,312.00
CWX CARAWINE RESOURCES 7 41 0.22 $ 16,226,463.00
MAR MALACHITE RESOURCES 7 -53 0.045 $ 4,900,062.00
PUR PURSUIT MINERALS 7 60 0.016 $ 7,016,483.50
VMC VENUS METALS 7 29 0.245 $ 37,014,276.00
WGX WESTGOLD RESOURCES 6 -9 2.21 $ 920,304,320.00
AMG AUSMEX MINING GROUP 6 -48 0.048 $ 27,925,984.00
ALK ALKANE RESOURCES 6 208 1.13 $ 675,607,488.00
MKR MANUKA RESOURCES 5 0.6 $ 159,045,904.00
KZR KALAMAZOO RESOURCES 5 213 0.695 $ 92,968,416.00
WWI WEST WITS MINING 5 175 0.02 $ 23,701,336.00
TAR TARUGA MINERALS 5 240 0.067 $ 26,946,904.00
CEL CHALLENGER EXPLORATION 4 621 0.24 $ 162,181,152.00
BNR BULLETIN RESOURCES 4 174 0.075 $ 13,267,687.00
MKG MAKO GOLD 4 60 0.12 $ 28,375,808.00
SLR SILVER LAKE RESOURCES 4 116 2.27 $ 1,991,446,656.00
HRZ HORIZON MINERALS 4 -7 0.14 $ 71,466,528.00
NWM NORWEST MINERALS 4 -43 0.135 $ 11,318,424.00
MCT METALICITY 4 419 0.027 $ 39,689,224.00
SAU SOUTHERN GOLD 4 -30 0.145 $ 17,324,382.00
NUS NUSANTARA RESOURCES 4 26 0.28 $ 62,710,892.00
ARL ARDEA RESOURCES 4 23 0.57 $ 68,034,256.00
KWR KINGWEST RESOURCES 3 -45 0.145 $ 18,651,522.00
GSM GOLDEN STATE MINING 3 265 0.295 $ 17,840,404.00
TAM TANAMI GOLD 3 22 0.065 $ 78,731,504.00
MTC METALSTECH 3 872 0.175 $ 22,149,336.00
AMI AURELIA METALS 3 4 0.525 $ 463,211,424.00
TBR TRIBUNE RESOURCES 3 4 8.12 $ 421,318,656.00
BDC BARDOC GOLD 3 -29 0.0775 $ 134,698,768.00
BC8 BLACK CAT SYNDICATE 3 58 0.77 $ 90,225,888.00
GRL GODOLPHIN RESOURCES 2 0.2 $ 13,959,654.00
AGS ALLIANCE RESOURCES 2 79 0.205 $ 41,009,020.00
CST CASTILE RESOURCES 2 0.27 $ 51,924,632.00
HXG HEXAGON ENERGY MATERIALS 2 -19 0.055 $ 16,961,138.00
BRV BIG RIVER GOLD 2 242 0.065 $ 81,618,056.00
DGR DGR GLOBAL 1 -11 0.065 $ 51,354,000.00
MZZ MATADOR MINING 1 71 0.425 $ 79,993,680.00
RSG RESOLUTE MINING 1 -33 1.125 $ 1,252,918,272.00
EVN EVOLUTION MINING 1 12 5.7 $ 9,686,817,792.00
BGL BELLEVUE GOLD 1 75 1.01 $ 852,495,936.00
FML FOCUS MINERALS 0 23 0.43 $ 80,409,368.00
ALY ALCHEMY RESOURCES 0 42 0.019 $ 11,274,596.00
DCX DISCOVEX RESOURCES 0 -27 0.008 $ 9,569,313.00
GSN GREAT SOUTHERN MINING 0 111 0.11 $ 47,046,012.00
XTC XANTIPPE RESOURCES 0 0 0.003 $ 12,223,693.00
CDT CASTLE MINERALS 0 33 0.012 $ 6,325,008.00
ANL AMANI GOLD 0 -33 0.002 $ 15,676,393.00
KRM KINGSROSE MINING 0 -21 0.037 $ 27,010,272.00
CTO CITIGOLD CORP 0 140 0.011 $ 31,214,078.00
EMR EMERALD RESOURCES 0 67 0.645 $ 324,304,768.00
HAW HAWTHORN RESOURCES 0 164 0.145 $ 50,027,340.00
BCN BEACON MINERALS 0 -26 0.035 $ 103,115,184.00
TNR TORIAN RESOURCES 0 33 0.014 $ 10,239,456.00
BRB BREAKER RESOURCES 0 -26 0.235 $ 61,189,552.00
DHR DARK HORSE RESOURCES 0 -50 0.0025 $ 8,072,737.00
SVL SILVER MINES 0 85 0.235 $ 265,352,432.00
PDI PREDICTIVE DISCOVERY 0 446 0.069 $ 59,319,812.00
SBM ST BARBARA 0 8 3.45 $ 2,441,259,264.00
GMR GOLDEN RIM RESOURCES 0 -13 0.014 $ 23,169,310.00
DTR DATELINE RESOURCES 0 -33 0.002 $ 16,420,156.00
PGI PANTERRA GOLD 0 48 0.04 $ 8,000,807.50
MSR MANAS RESOUCES 0 67 0.005 $ 13,215,812.00
TMX TERRAIN MINERALS 0 275 0.015 $ 10,847,415.00
PUA PEAK MINERALS 0 18 0.028 $ 12,483,823.00
SFM SANTA FE MINERALS 0 -21 0.072 $ 5,242,953.00
AVW AVIRA RESOURCES 0 248 0.006 $ 8,250,000.00
KGM KALNORTH GOLD MINES 0 117 0.013 $ 11,625,121.00
OKR OKAPI RESOURCES 0 -9 0.2 $ 7,749,216.00
KTA KRAKATOA RESOURCES 0 281 0.08 $ 18,821,250.00
DCN DACIAN GOLD 0 -55 0.33 $ 186,430,368.00
AME ALTO METALS 0 144 0.083 $ 25,593,106.00
E2M E2 METALS 0 -9 0.19 $ 26,240,038.00
ARS ALT RESOURCES 0 104 0.05 $ 31,978,522.00
CYL CATALYST METALS 0 3 2.45 $ 201,055,264.00
SAR SARACEN MINERAL HOLDINGS -1 41 5.17 $ 5,781,818,880.00
PRU PERSEUS MINING -1 88 1.415 $ 1,719,668,992.00
CMM CAPRICORN METALS -1 64 1.99 $ 673,955,392.00
NST NORTHERN STAR RESOURCES -1 16 13.61 $ 10,007,744,512.00
AOP APOLLO CONSOLIDATED -2 25 0.32 $ 88,801,544.00
CAI CALIDUS RESOURCES -2 70 0.545 $ 146,703,952.00
TIE TIETTO MINERALS -2 147 0.525 $ 210,841,920.00
HRN HORIZON GOLD -2 46 0.49 $ 45,712,904.00
ARN ALDORO RESOURCES -2 -33 0.091 $ 6,210,528.00
GUL GULLEWA -2 183 0.085 $ 14,288,833.00
NCM NEWCREST MINING -3 -15 31.47 $ 25,747,068,928.00
NES NELSON RESOURCES -3 66 0.068 $ 8,495,359.00
AQI ALICANTO MINERALS -3 162 0.155 $ 44,922,180.00
AZS AZURE MINERALS -3 3 0.165 $ 41,172,744.00
RRL REGIS RESOURCES -3 2 5.3 $ 2,699,363,584.00
GOR GOLD ROAD RESOURCES -3 18 1.55 $ 1,385,881,472.00
BYH BRYAH RESOURCES -4 -31 0.05 $ 6,857,439.50
ERM EMMERSON RESOURCES -4 -37 0.095 $ 46,353,972.00
MGV MUSGRAVE MINERALS -4 611 0.58 $ 286,825,824.00
MEU MARMOTA -4 81 0.047 $ 46,465,616.00
AXE ARCHER MATERIALS -4 250 0.44 $ 100,959,672.00
MML MEDUSA MINING -4 1 0.85 $ 181,820,016.00
ERX EXORE RESOURCES -5 39 0.105 $ 61,882,392.00
MDI MIDDLE ISLAND RESOURCES -5 157 0.018 $ 51,764,844.00
DAU DAMPIER GOLD -5 46 0.036 $ 10,258,579.00
OAU ORA GOLD -6 70 0.019 $ 15,135,214.00
VRC VOLT RESOURCES -6 34 0.016 $ 32,328,886.00
TSO TESORO RESOURCES -6 294 0.18 $ 76,207,024.00
ARV ARTEMIS RESOURCES -6 189 0.077 $ 88,467,464.00
MAT MATSA RESOURCES -6 -17 0.15 $ 36,330,780.00
HMX HAMMER METALS -6 26 0.039 $ 26,778,122.00
GED GOLDEN DEEPS -7 -46 0.014 $ 8,615,051.00
CY5 CYGNUS GOLD -7 273 0.2 $ 18,716,738.00
FFL FOUNDERS FIRST -7 0.4 $ 49,436,432.00
SI6 SIX SIGMA METALS -7 160 0.011 $ 13,660,622.00
NAG NAGAMBIE RESOURCES -7 -17 0.05 $ 24,996,618.00
OKU OKLO RESOURCES -7 127 0.245 $ 133,444,232.00
AUC AUSGOLD -8 76 0.037 $ 49,413,284.00
BAR BARRA RESOURCES -8 14 0.024 $ 14,316,378.00
PRX PRODIGY GOLD -8 -41 0.066 $ 42,385,816.00
STN SATURN METALS -8 81 0.78 $ 69,482,616.00
G88 GOLDEN MILE RESOURCES -8 -19 0.055 $ 4,905,046.50
LEX LEFROY EXPLORATION -9 36 0.24 $ 25,121,686.00
DTM DART MINING -10 91 0.185 $ 13,492,639.00
RGL RIVERSGOLD -10 299 0.051 $ 21,006,408.00
AUT AUTECO MINERALS -11 2733 0.165 $ 266,420,416.00
VAN VANGO MINING -12 -55 0.095 $ 104,327,240.00
CHN CHALICE GOLD MINES -12 661 1.375 $ 453,569,088.00
ONX ORMINEX -12 -69 0.035 $ 22,103,188.00
SIH SIHAYO GOLD -12 75 0.022 $ 68,695,928.00
GBZ GBM RESOURCES -13 277 0.13 $ 46,083,444.00
A1G AFRICAN GOLD -13 -22 0.14 $ 9,573,647.00
MOH MOHO RESOURCES -13 42 0.105 $ 7,634,279.00
LNY LANEWAY RESOURCES -13 -22 0.008 $ 30,200,528.00
NXM NEXUS MINERALS -14 50 0.074 $ 14,308,024.00
MAU MAGNETIC RESOURCES -14 240 1.46 $ 352,249,280.00
GMN GOLD MOUNTAIN -15 -20 0.041 $ 27,186,496.00
TTM TITAN MINERALS -15 -41 0.105 $ 126,830,312.00
GML GATEWAY MINING -15 0 0.022 $ 45,650,784.00
AWV ANOVA METALS -15 88 0.032 $ 40,042,472.00
TSC TWENTY SEVEN CO -17 0 0.005 $ 8,174,765.00
TRY TROY RESOURCES -18 -11 0.096 $ 66,366,696.00
MLS METALS AUSTRALIA -20 -33 0.002 $ 7,296,705.50
MEI METEORIC RESOURCES -22 -17 0.039 $ 51,921,004.00

Small Cap Standouts

Strong news flow is still being rewarded by investors.

Ardiden (ASX:ADV) has hit visible gold in its very first drillhole at the Kasagiminnis deposit, part of the Pickle Lake project in Ontario.

Here’s what that looks like:

A landmark acquisition deal could instantly transform Mali Lithium (ASX:MLL) into a cash-generating gold producer. The acquisition of 80 per cent of the Morila gold mine in southwest Mali for $US22-27m saw shares jump +50 per cent for the week.

Sabre Resources (ASX:SBR) reckons the quality of early stage aeromagnetic survey data at its Bonanza gold project is “better than expected”. “Significantly, it has indicated the presence of west-northwest trending structures that may represent fault splays off the Youanmi Fault Zone that hosts the Penny West Mine,” Sabre says.

With ~$15m in the bank, Nova Minerals (ASX:NVA) is now fully funded to add ounces and fast-track development of the 2.5 million ounce Estelle gold project in Alaska.

The bidding war for 5.1moz gold project developer Cardinal Resources (ASX:CDV) continues to heat up, with Russian suitor Nordgold now increasing its offer price from 66c to 90c per share. This is a substantial step up from the most recent 70c per share all-cash offer from major Chinese gold producer Shandong Gold Mining, and an even bigger step up from Nordgold’s initial ~45c offer, first announced in March.

High flying gold explorer De Grey Mining (ASX:DEG) has made a new discovery at the mammoth Hemi project in the Pilbara. Initial drill results for the ‘Falcon’ deposit include 21m at 3.4 grams per tonne for gold from 40m, and 19m at 2.1 g/t gold from 68m.

And Cauldron Energy (ASX:CXU) has dusted off a “forest of data” from the historic Blackwood project joint venture in Victoria which reveals high-grade gold zones outside the historic mining areas. Blackwood could host multiple high-grade gold systems, Cauldron says.

The post Gold Digger: Buffett’s big Barrick bet bolsters believers appeared first on Stockhead.

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