Gold Digger: Great news – gold price headwinds just became a tailwind

The recovery in the gold price from its early March lows — ~$1,670s to over $1,825 currently — was mostly driven by the decline in real interest rates and, more recently a poor US jobs report and increasing inflation.

US core inflation in April came in at nearly 3%, surpassing even most the aggressive forecasts, according to The Felder Report.

“With inflation now rising much faster than interest rates, real rates have now fallen (inverted in the chart below) to a level that should be about as bullish for gold prices as anything we have seen in recent years,” Jesse Felder writes.

“Should these nascent trends in inflation and interest rates prove to be more than “transitory,” as Dr. Copper would seem to suggest, it would appear that the gold price could be significantly undervalued at present.”

That’s good news for gold plays, many of which are still trading well below their late 2020 highs.

USD gold price over the past 2 years.

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

CODECOMPANY1 WEEK RETURN %1 MONTH RETURN %6 MONTH RETURN %1 YEAR RETURN %PRICE [INTRADAY FRIDAY] MARKET CAP
TLMTalisman Mining661291002120.24 $ 43,857,670.48
ANLAmani Gold Ltd50505000.0015 $ 21,573,993.49
MSRManas Res Ltd3333331000.008 $ 19,321,915.19
VRCVolt Resources Ltd251002002750.03 $ 61,888,530.63
PF1Pathfinder Resources25-5450.275 $ 13,425,531.30
NWMNorwest Minerals2225-13-390.1 $ 10,557,497.36
YRLYandal Resources2249242090.67 $ 64,489,539.42
AMEAlto Metals Limited2111-13640.105 $ 54,031,168.20
TARTaruga Minerals21100884530.094 $ 45,492,885.54
OAUOra Gold Limited20200410.024 $ 19,339,440.11
KCCKincora Copper19410.345 $ 23,798,729.97
E2ME2 Metals1814-621750.33 $ 48,801,481.95
BATBattery Minerals Ltd18-5-203000.02 $ 36,742,923.74
DCXDiscovex Res Ltd171701330.007 $ 17,980,648.53
AVWAvira Resources Ltd170-226000.007 $ 9,625,280.00
TNRTorian Resources Ltd1627782490.057 $ 48,896,035.32
KSNKingston Resources160-19290.22 $ 63,840,812.85
STKStrickland Metals144-701080.025 $ 10,107,636.50
FFXFirefinch Ltd13751524370.4025 $ 293,678,490.38
ANXAnax Metals Ltd1330856200.096 $ 31,516,550.10
SLZSultan Resources Ltd1258141850.285 $ 20,164,972.81
RSGResolute Mining1022-29-430.575 $ 645,777,233.01
TTMTitan Minerals922-4790.12 $ 131,037,029.91
ERMEmmerson Resources9-3-6-180.074 $ 36,869,648.19
TMZThomson Res Ltd99-77940.125 $ 59,862,076.30
GMLGateway Mining9-7321270.025 $ 45,687,254.40
KTAKrakatoa Resources90-151100.063 $ 17,294,900.00
PURPursuit Minerals8-2037113170.066 $ 44,290,311.88
NUSNusantara Resources86-440.275 $ 63,050,076.93
PRSProspech Limited812000.14 $ 8,777,779.52
DTMDart Mining NL80-181410.14 $ 13,992,366.64
PNRPantoro Limited8108590.215 $ 309,847,610.16
PDIPredictive Disc Ltd7629400.088 $ 89,656,325.62
PNXPNX Metals Limited77-2570.0075 $ 25,565,354.58
CLACelsius Resource Ltd721314110.046 $ 48,172,491.73
KAIKairos Minerals Ltd7-6-262020.031 $ 53,646,109.57
MATMatsa Resources70-37-310.079 $ 25,100,909.84
GIBGibb River Diamonds6-12-57530.066 $ 13,113,585.59
HRNHorizon Gold Ltd6222870.42 $ 44,810,646.72
SVLSilver Mines Limited621131830.255 $ 291,126,209.05
TSOTesoro Resources Ltd63-493080.185 $ 94,909,562.85
SSRSSR Mining Inc.610-2021.65 $ 404,901,460.90
CHNChalice Mining Ltd6231316067.73 $ 2,531,432,404.68
ARLArdea Resources Ltd5-3-11020.495 $ 61,281,879.36
HMXHammer Metals Ltd501273350.1 $ 83,567,007.83
OKROkapi Resources5143640.205 $ 10,301,945.36
SBMSt Barbara Limited5-5-27-252 $ 1,412,507,459.06
EVNEvolution Mining Ltd59-19-124.85 $ 8,338,295,374.80
NCMNewcrest Mining56-7-127.63 $ 22,736,999,231.44
DREDrednought Resources426-113000.024 $ 59,239,002.26
A1GAfrican Gold Ltd.4-8692270.245 $ 22,309,171.78
ICGInca Minerals Ltd4141503340.125 $ 50,531,550.00
NMLNavarre Minerals Ltd4-11-5340.125 $ 65,549,058.12
MTCMetalstech Ltd4-7-22-110.125 $ 19,227,204.75
NESNelson Resources.42181480.084 $ 12,219,748.13
TIETietto Minerals4-5-30-190.295 $ 132,293,782.24
IVRInvestigator Res Ltd310416420.089 $ 116,507,301.42
GORGold Road Res Ltd37-4-141.335 $ 1,184,784,458.11
WAFWest African Res Ltd34-2301 $ 865,386,917.50
SLRSilver Lake Resource36-8-81.855 $ 1,648,545,839.05
NSMNorthstaw3-17-240.34 $ 13,400,000.00
DCNDacian Gold Ltd3-3-3-130.34 $ 271,806,890.09
PKOPeako Limited336412700.038 $ 7,298,058.73
ADTAdriatic Metals35-2882.33 $ 428,503,703.04
ADNAndromeda Metals Ltd3-30-192680.195 $ 399,734,648.00
TAMTanami Gold NL314860.08 $ 96,357,957.77
RMSRamelius Resources27-8271.7575 $ 1,428,600,301.83
MEUMarmota Limited22000.044 $ 42,615,482.36
NXMNexus Minerals Ltd2-1-48910.088 $ 21,973,650.39
PRXProdigy Gold NL200150.047 $ 27,289,497.48
WMXWiluna Mining Corp21-44-10.995 $ 124,953,350.94
MKGMako Gold2101820.1 $ 25,724,160.20
ONXOrminexltd233130-150.053 $ 30,133,003.18
GWRGWR Group Ltd22824170.31 $ 98,405,593.98
AGGAngloGold Ashanti20-14-295.69 $ 506,700,105.20
BCNBeacon Minerals167-10.035 $ 121,839,888.93
HCHHot Chili Ltd1-21-26880.0365 $ 110,790,995.94
MOHMoho Resources1-10-37120.076 $ 7,642,379.75
BNZBenzmining1-10.795 $ 30,083,512.80
WGXWestgold Resources.1-8-19-72.045 $ 877,380,408.90
AUTAuteco Minerals1-9-17720.091 $ 136,344,567.43
CMMCapricorn Metals1136221.83 $ 658,036,620.52
RNDRand Mining Ltd0-12-37-251.425 $ 81,048,244.43
A8GAustralasian Gold0.18 $ 5,629,539.97
MM8Medallion Metals.020.255 $ 20,447,019.71
MBKMetal Bank Ltd0-8-15440.011 $ 13,029,591.34
XAMXanadu Mines Ltd0-19401070.06 $ 75,337,065.00
TINTnt Mines Limited03-4230.16 $ 15,427,712.00
MRRMinrex Resources Ltd0901670.024 $ 12,676,152.27
IPTImpact Minerals0-20-27230.016 $ 32,380,718.70
SFMSanta Fe Minerals0-3-19800.097 $ 7,063,422.53
FFRFirefly Resources05-443640.105 $ 32,270,650.65
REZResourc & En Grp Ltd0-8-461470.037 $ 15,108,827.62
PUAPeak Minerals Ltd0-12-12730.022 $ 12,908,755.69
ALYAlchemy Resource Ltd00-20490.016 $ 10,755,895.25
THRThor Mining PLC020-142000.018 $ 9,554,902.29
WCNWhite Cliff Min Ltd0-6-472400.017 $ 8,792,338.78
FMLFocus Minerals Ltd05-20200.3 $ 53,910,826.68
TRYTroy Resources Ltd0-8-34-190.066 $ 50,756,772.46
LCLLos Cerros Limited0-10172890.175 $ 82,695,372.38
WRMWhite Rock Min Ltd0-27-14100.44 $ 39,392,297.12
SVYStavely Minerals Ltd0-5-33540.615 $ 163,100,907.50
OBMOra Banda Mining Ltd0-22-4240.195 $ 160,022,171.83
MAUMagnetic Resources0-1025831.42 $ 309,593,355.80
TBRTribune Res Ltd0-1-24-225.2 $ 270,210,596.55
DDD3D Resources Limited0-10-91720.0045 $ 14,481,488.37
DTRDateline Resources0-13752500.0035 $ 26,493,234.23
GULGullewa Limited0-7-25320.086 $ 15,684,086.60
KGMKalnorth Gold Ltd000860.013 $ 11,625,120.78
LNYLaneway Res Ltd0-29-33250.005 $ 18,875,329.67
MZZMatador Mining Ltd02731030.405 $ 72,564,123.24
MLSMetals Australia0-2001000.002 $ 8,454,376.09
NAENew Age Exploration013385000.018 $ 23,171,315.29
NPMNewpeak Metals00-3300.002 $ 14,185,403.25
PNMPacific Nickel Mines0-5-9-160.052 $ 10,532,521.84
RVRRed River Resources0-13-252250.205 $ 108,732,617.07
SIHSihayo Gold Limited018-46-40.013 $ 47,910,998.37
XTCXantippe Res Ltd00000.002 $ 8,149,128.80
AAJAruma Resources Ltd0-6-3380.065 $ 6,887,460.26
SKYSKY Metals Ltd0-6-36-590.15 $ 35,764,225.06
MHCManhattan Corp Ltd00-53560.014 $ 21,367,901.70
CTOCitigold Corp Ltd0-15-211750.011 $ 30,580,000.00
RDSRedstone Resources00-141400.012 $ 8,627,988.76
ARVArtemis Resources09-192750.105 $ 119,360,253.29
TSCTwenty Seven Co. Ltd0-17-29-290.005 $ 10,642,758.24
MTHMithril Resources0-17-49250.015 $ 32,903,262.57
AYMAustralia United Min0-1003500.009 $ 16,583,197.37
MCTMetalicity Limited0-8-372430.012 $ 19,438,366.81
KCNKingsgate Consolid.-1-541090.835 $ 186,636,400.50
PRUPerseus Mining Ltd-12-5121.2125 $ 1,471,748,244.00
AMIAurelia Metals Ltd-1-8-20350.3925 $ 493,895,950.00
DGODGO Gold Limited-143753.5 $ 257,431,118.00
GBRGreatbould Resources-11611011920.094 $ 27,132,845.75
IDAIndiana Resources-15293490.084 $ 25,020,982.22
KZRKalamazoo Resources-1-8-34-100.415 $ 54,095,987.94
STNSaturn Metals-1-1-45170.41 $ 46,672,771.65
NSTNorthern Star-1-2-30-2110.56 $ 12,320,856,276.21
NAGNagambie Resources-1-760450.08 $ 39,994,587.68
BYHBryah Resources Ltd-1611240.074 $ 11,669,078.61
BRVBig River Gold Ltd-1-12-14450.37 $ 80,055,706.60
ARNAldoro Resources-121581390.335 $ 24,496,441.92
AAUAntilles Gold Ltd-1-24311680.066 $ 12,879,348.83
RRLRegis Resources-2-15-34-452.585 $ 1,975,534,786.82
NVANova Minerals Ltd-2-11-191970.1425 $ 233,792,530.58
MMLMedusa Mining Ltd-2-1-1170.795 $ 165,259,274.30
CSTCastile Resources-2-2-101120.265 $ 55,918,833.88
M24Mamba Exploration-2-190.22 $ 7,400,000.00
LEXLefroy Exploration-2-362724470.875 $ 109,808,845.31
AUCAusgold Limited-2-19-262070.043 $ 68,170,030.26
SAUSouthern Gold-2-12-29-320.082 $ 17,492,957.99
WWIWest Wits Mining Ltd-2-12-26130.082 $ 113,485,568.81
EMREmerald Res NL-31963990.975 $ 499,935,290.79
MKRManuka Resources.-3-10-210.375 $ 38,078,970.52
REDRed 5 Limited-316-31-100.185 $ 445,801,416.93
BRBBreaker Res NL-3-22-3-30.18 $ 58,651,367.22
VMCVenus Metals Cor Ltd-3-5-2760.175 $ 24,927,982.70
BNRBulletin Res Ltd-3-5-18330.069 $ 12,371,222.11
AWJAuric Mining-3-80.17 $ 6,883,782.46
RXLRox Resources-3-11-39360.034 $ 78,015,767.84
OZMOzaurum Resources-3-190.145 $ 7,022,700.00
ENREncounter Resources-3-9-28380.145 $ 45,756,736.94
AGCAGC Ltd-3-200.14 $ 8,804,546.92
AGCAGC Ltd-3-200.14 $ 8,804,546.92
ALKAlkane Resources Ltd-415-2090.815 $ 488,218,816.00
MEIMeteoric Resources-4-5-52120.053 $ 69,683,951.57
TRMTruscott Mining Corp-4942130.025 $ 3,198,538.60
RMLResolution Minerals-40-43-600.025 $ 11,639,669.96
OKUOklo Resources Ltd-4-14-46-580.125 $ 60,483,577.44
PGDPeregrine Gold-4280.345 $ 9,584,252.70
BARBarra Resources-415-3950.023 $ 15,584,986.32
HRZHorizon-400190.115 $ 65,317,148.00
GBZGBM Rsources Ltd-45-39600.11 $ 45,466,896.30
GEDGolden Deeps-5-13-25170.0105 $ 8,523,365.84
GMNGold Mountain Ltd-5-7-9-110.04 $ 30,708,996.96
AWVAnova Metals Ltd-5-17-311000.02 $ 28,661,884.00
PAKPacific American Hld-50-201000.02 $ 7,008,867.80
DEXDuke Exploration-518180.39 $ 23,531,434.29
CAICalidus Resources-5-4-34440.39 $ 155,539,287.93
AARAnglo Australian-5-18-40-400.09 $ 54,777,779.71
CGNCrater Gold Min Ltd-5-10-47800.018 $ 22,094,925.61
CYLCatalyst Metals-5-6-28-331.97 $ 193,642,574.31
CAZCazaly Resources-529181300.053 $ 19,586,853.15
ZNCZenith Minerals Ltd-5112962230.265 $ 83,892,608.55
GSNGreat Southern-5-7-38-150.052 $ 23,661,061.84
AQXAlice Queen Ltd-6-11-39-150.017 $ 18,641,580.67
LCYLegacy Iron Ore-6-161297000.016 $ 96,071,077.76
MVLMarvel Gold Limited-6-11-19940.047 $ 23,906,270.73
BC8Black Cat Syndicate-6-6-3640.705 $ 96,398,817.13
AMGAusmex Mining Gp Ltd-6-19570.046 $ 23,834,718.50
VKAViking Mines Ltd-6-25653940.03 $ 28,595,236.07
MGVMusgrave Minerals-7-3-232140.345 $ 186,628,032.15
CWXCarawine Resources-76-13380.275 $ 30,489,172.56
TRNTorrens Mining-7-130.135 $ 9,164,399.00
AL8Alderan Resource Ltd-7-7-36910.067 $ 19,366,170.98
SMISantana Minerals Ltd-70-35-380.13 $ 14,254,079.50
AOPApollo Consolidated-8-6-5220.305 $ 89,472,382.90
GSMGolden State Mining-8-17-50-290.12 $ 10,343,544.75
RDNRaiden Resources Ltd-8-8-313800.024 $ 30,307,579.53
GTRGti Resources-8-426-170.024 $ 16,757,467.95
EM2Eagle Mountain-871575790.95 $ 196,541,401.73
BDCBardoc Gold Ltd-8-3-7-100.071 $ 121,468,016.32
GRLGodolphin Resources-8-8-3330.175 $ 15,139,875.96
S2RS2 Resources-813-37850.17 $ 53,531,500.43
HAWHawthorn Resources-8-17-61-560.045 $ 15,341,718.20
DLCDelecta Limited-8-8-21380.0055 $ 5,547,416.63
SI6SI6 Metals Limited-8-35104500.011 $ 15,325,862.90
EMUEMU NL-8-10-231590.044 $ 20,815,552.42
SPQSuperior Resources-8-8-351930.011 $ 15,194,693.70
BTRBrightstar Resources-9-11-525200.031 $ 14,072,024.45
MEGMegado-93-230.155 $ 6,119,819.70
GMRGolden Rim Resources-911-23670.01 $ 26,703,496.79
SBRSabre Resources-9-17-581500.005 $ 8,415,318.25
TMXTerrain Minerals-9-17-231000.01 $ 7,357,610.09
ADVArdiden Ltd-9-38-621500.01 $ 21,493,542.16
MRZMont Royal Resources-101281240.325 $ 11,931,165.23
KWRKingwest Resources-10-28-54-380.09 $ 14,642,920.00
CXUCauldron Energy Ltd-10-18-22330.036 $ 18,079,980.48
CBYCanterbury Resources-10-14-14380.09 $ 10,067,867.73
KRMKingsrose Mining Ltd-101542540.054 $ 42,340,426.42
RMXRed Mount Min Ltd-10-18-362000.009 $ 11,261,902.40
CHZChesser Resources-10-7-46810.13 $ 63,210,297.50
FAUFirst Au Ltd-116-371130.017 $ 10,448,688.82
DEGDe Grey Mining-11592391.255 $ 1,871,096,038.45
ASOAston Minerals Ltd-11192308690.155 $ 126,396,127.21
NMRNative Mineral Res-1120.31 $ 9,220,320.00
MDIMiddle Island Res-12-53-64-620.115 $ 14,687,489.16
SRNSurefire Rescs NL-12-4-306670.023 $ 24,137,529.02
SNGSiren Gold-12-46-590.225 $ 13,960,053.90
BGLBellevue Gold Ltd-13-4-40420.825 $ 732,118,513.37
BMOBastion Minerals-13-130.17 $ 9,767,224.20
KAUKaiser Reef-14-18-3820.255 $ 24,202,088.50
AZSAzure Minerals-14-24-692500.28 $ 89,344,859.09
CDTCastle Minerals-1420-4710.012 $ 8,790,009.82
ZAGZuleika Gold Ltd-15-22-45460.035 $ 15,993,641.55
AGSAlliance Resources-15-15-18280.145 $ 32,242,655.77
AXEArcher Materials-15-2139640.715 $ 151,444,485.82
CELChallenger Exp Ltd-17-346670.3 $ 170,042,005.77
AQIAlicanto Min Ltd-174-14760.12 $ 39,344,095.32
VANVango Mining Ltd-18-25-19-470.061 $ 67,165,007.07
RGLRiversgold-19-16-72580.043 $ 18,181,898.82
BBXBBX Minerals Ltd-2033-221880.265 $ 121,374,575.87
GNMGreat Northern-20-11-53140.008 $ 9,672,407.81
CY5Cygnus Gold Limited-20-27-431670.12 $ 15,720,914.21
HXGHexagon Energy-20170530.092 $ 40,141,244.43
G88Golden Mile Res Ltd-20-31161360.066 $ 12,461,631.19
HWKHawkstone Mng Ltd-21-271612750.03 $ 49,076,799.21
M2RMiramar-34-30-530.175 $ 7,600,953.60
ODYOdyssey Gold-3821301240.18 $ 77,390,000.00

 

SMALL CAP STANDOUTS

TALISMAN MINING (ASX:TLM) +66%

Capital H’s Josh Baker reckons that the flagship asset of gold-copper explorer Talisman is actually a royalty over the Wonmunna iron ore project, acquired when it sold off the project in 2011.

The project is now owned by Mineral Resources (ASX:MIN), which is currently drilling to grow the resource.

“As such, we think there is a strong likelihood that the scope of the deposit will be expanded and able to support a 10Mtpa scale operation for 5yrs+,” Baker says.

“At the current average price for 58% graded ore for CY21 to date (~USD142/t), this implies a revenue run-rate of ~$9 million p.a. from TLM’s royalty.

“Should MIN be successful in doubling the production run-rate asap, it would imply a revenue run-rate of ~$18 million p.a. on the same assumptions, in stark contrast to [Talisman’s] current $37 million market cap.”

 

NORWEST MINERALS (ASX:NWM) 22%

This quiet but industrious explorer was rerated in early trade Tuesday by a monster gold intercept at the 100,000oz ‘Bulgera’ project – 16m at 7g/t from 120m, to be exact.

That intercept is probably bigger, because the hole ended in 18.5g/t mineralisation.

The historic Bulgera project in WA remains underexplored, both along strike and at depth.

“The continuity of these relatively shallow, wide, high-grade drill intersections demonstrates Bulgera’s significant potential, especially with one of the holes ending in very-high grade mineralisation at only 210 metres,” managing director Charles Schaus says.

“We are very keen to recommence drilling to test for downdip extensions of this gold-rich zone.”

 

ALTO METALS (ASX:AME) +21%

Another big gold hit.

Alto pulled up 4m at 60.6g/t from 40m, 240m away from the known mineralisation at ‘Vanguard’, part of the Sandstone project in WA.

There was a bunch of other good results, like 8m at 3.1g/t from 8m.

A total of 13 drill holes for over 2,600m are pending for Vanguard and a further 30 drill holes for over 6,300m from the ‘Lords Corridor’.

“Our wide-spaced, step-out drilling has now confirmed gold mineralisation over two kilometres, and it remains open along strike and down dip,” Alto managing director Matthew Bowles says.

“We can see Vanguard continuing to grow and plan to systematically test both the Vanguard and Vanguard North trends, along with the overall 20 kilometre corridor of differentiated dolerite that hosts Vanguard, Havilah and Indomitable deposits.

“Coming on the back of the ongoing success we are having at the Lords Corridor, where drilling is ongoing, these outstanding results from Vanguard validate our approach and view of a much larger gold system at our Sandstone Gold Project.”

The post Gold Digger: Great news – gold price headwinds just became a tailwind appeared first on Stockhead.

Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.

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