Gold Digger: Has gold lost its spark? Probably not

On August 12 the gold spot price plummeted 5.7 per cent – the biggest one day drop in over seven years.

This had an immediate impact on investor sentiment with just 27 per cent of the stocks on our list — or 47 companies — registering gains over the last week.

But don’t stress.

Experts are calling this a small ‘correction’ to gold’s bullish run, rather than the beginning of a more bearish trend.

>> ASX gold stocks missing from our list? Email us @ [email protected] >>>

In this post, respected resources analyst and founding director of MineLife Gavin Wendt says this week’s tumble should be put into perspective.

“One session of retracement does not take away from gold’s overwhelmingly positive thematic,” he says.

“Gold’s rise did not start with COVID-19 — it began five years ago when it was trading at around $1,050 per ounce (almost doubling since then), with another price upleg from August 2018, when gold was trading around $1200 per ounce.”

It’s risen 66 per cent over the past two years, driven by question marks over the world economy, Wendt says.

“Fast forward to the present, when you combine a global health crisis with an economic crisis, you have a double-whammy that provides enormous uncertainty for authorities and governments, and their ability to deal with the consequences,” he says.

“Bear in mind that during the last crisis – the GFC – gold didn’t hit its peak until three years later, so there’s a lot more upside left in gold.”

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

 

Winners & Losers

Here’s how 173 ASX-listed gold stocks performed for the period August 10–14 [intraday]:

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

TICKER NAME 1 WEEK RETURN % 1 YEAR RETURN % PRICE [INTRADAY FRIDAY] MARKET CAP
AQI ALICANTO MINERALS 81 174 0.175 $ 27,868,998.00
GED GOLDEN DEEPS 58 -27 0.02 $ 5,962,932.00
XTC XANTIPPE RESOURCES 50 0 0.003 $ 12,223,693.00
ANL AMANI GOLD 33 -33 0.0015 $ 11,757,295.00
BRV BIG RIVER GOLD 29 172 0.051 $ 63,263,248.00
HMX HAMMER METALS 28 111 0.059 $ 32,141,328.00
AAJ ARUMA RESOURCES 27 17 0.008 $ 7,975,897.50
AVW AVIRA RESOURCES 26 152 0.007 $ 7,975,000.00
TRY TROY RESOURCES 24 8 0.13 $ 79,007,968.00
TAR TARUGA MINERALS 20 216 0.065 $ 21,479,416.00
DHR DARK HORSE RESOURCES 20 -25 0.003 $ 8,072,737.00
BBX BBX MINERALS 19 -4 0.22 $ 79,294,920.00
MKG MAKO GOLD 18 38 0.13 $ 21,859,882.00
GBZ GBM RESOURCES 17 264 0.135 $ 39,474,148.00
MTH MITHRIL RESOURCES 17 600 0.035 $ 56,329,328.00
DRE DREADNOUGHT RESOURCES 17 250 0.015 $ 22,922,170.00
BAR BARRA RESOURCES 17 33 0.029 $ 15,509,409.00
ONX ORMINEX 16 -68 0.05 $ 26,416,006.00
CDT CASTLE MINERALS 14 167 0.016 $ 7,298,086.50
RMX RED MOUNTAIN MINING 14 45 0.008 $ 8,104,294.00
AXE ARCHER MATERIALS 14 275 0.465 $ 102,081,448.00
WWI WEST WITS MINING 13 225 0.026 $ 26,601,284.00
TBR TRIBUNE RESOURCES 13 7 8.45 $ 430,238,240.00
AMG AUSMEX MINING GROUP 12 -67 0.04 $ 19,164,890.00
PUR PURSUIT MINERALS 11 150 0.02 $ 7,429,217.50
PUA PEAK MINERALS 11 45 0.031 $ 14,333,237.00
OKU OKLO RESOURCES 11 122 0.36 $ 161,140,208.00
BYH BRYAH RESOURCES 11 -25 0.061 $ 7,648,682.50
CWX CARAWINE RESOURCES 10 41 0.225 $ 16,612,807.00
NWM NORWEST MINERALS 9 -32 0.12 $ 10,899,223.00
ADV ARDIDEN 8 367 0.015 $ 26,934,096.00
FML FOCUS MINERALS 7 27 0.47 $ 80,409,368.00
ADN ANDROMEDA METALS 6 -2 0.05 $ 80,636,264.00
TSO TESORO RESOURCES 6 355 0.2 $ 83,351,440.00
ALY ALCHEMY RESOURCES 5 54 0.02 $ 10,459,963.00
PDI PREDICTIVE DISCOVERY 5 401 0.083 $ 65,087,016.00
KCN KINGSGATE CONSOLIDATED 4 74 0.6 $ 130,079,912.00
GBR GREAT BOULDER RESOURCES 4 9 0.054 $ 7,206,515.50
CXU CAULDRON ENERGY 4 45 0.029 $ 10,912,405.00
MAT MATSA RESOURCES 3 -12 0.16 $ 34,060,104.00
MLL MALI LITHIUM 3 30 0.155 $ 49,188,956.00
HRZ HORIZON MINERALS 3 0 0.155 $ 83,800,416.00
NES NELSON RESOURCES 3 75 0.072 $ 8,036,150.00
GWR GWR GROUP 3 -35 0.072 $ 18,338,128.00
AUC AUSGOLD 2 68 0.043 $ 48,112,932.00
OKR OKAPI RESOURCES 2 5 0.21 $ 7,929,430.50
PGI PANTERRA GOLD 2 55 0.045 $ 8,195,949.50
MAU MAGNETIC RESOURCES 0 321 1.6 $ 326,937,952.00
TMX TERRAIN MINERALS 0 250 0.014 $ 10,124,254.00
AYR ALLOY RESOURCES 0 115 0.046 $ 16,670,061.00
CDV CARDINAL RESOURCES 0 45 0.72 $ 378,737,664.00
NVA NOVA MINERALS 0 43 0.051 $ 59,466,756.00
AZS AZURE MINERALS 0 36 0.17 $ 30,556,782.00
TAM TANAMI GOLD 0 32 0.077 $ 81,081,696.00
GML GATEWAY MINING 0 18 0.02 $ 33,433,582.00
ARM AURORA MINERALS 0 10 0.022 $ 5,153,864.50
NAG NAGAMBIE RESOURCES 0 6 0.055 $ 27,496,280.00
SMI SANTANA MINERALS 0 0 0.003 $ 5,367,891.00
ARN ALDORO RESOURCES 0 -7 0.125 $ 7,928,333.50
SFM SANTA FE MINERALS 0 -11 0.081 $ 5,898,322.00
LNY LANEWAY RESOURCES 0 -11 0.008 $ 26,425,462.00
E2M E2 METALS 0 -12 0.18 $ 22,960,032.00
GMN GOLD MOUNTAIN 0 -16 0.048 $ 34,662,784.00
VKA VIKING MINES 0 -17 0.01 $ 3,764,614.25
DTR DATELINE RESOURCES 0 -50 0.002 $ 24,630,234.00
SBR SABRE RESOURCES 0 -57 0.003 $ 3,751,938.75
CYL CATALYST METALS 0 3 2.68 $ 204,351,248.00
RND RAND MINING 0 -31 2.19 $ 129,319,224.00
ARL ARDEA RESOURCES -1 22 0.585 $ 72,139,768.00
AME ALTO METALS -1 159 0.087 $ 27,549,762.00
BDC BARDOC GOLD -1 -14 0.085 $ 132,826,776.00
HXG HEXAGON ENERGY MATERIALS -2 -24 0.065 $ 18,423,304.00
ARS ALT RESOURCES -2 92 0.05 $ 32,631,146.00
KZR KALAMAZOO RESOURCES -2 175 0.7 $ 82,115,104.00
DAU DAMPIER GOLD -3 28 0.032 $ 8,817,657.00
MML MEDUSA MINING -3 6 0.91 $ 188,053,840.00
HAW HAWTHORN RESOURCES -3 150 0.15 $ 43,357,028.00
SIH SIHAYO GOLD -3 131 0.03 $ 67,128,640.00
STN SATURN METALS -3 123 0.895 $ 73,000,728.00
AMI AURELIA METALS -3 20 0.565 $ 458,841,504.00
BNR BULLETIN RESOURCES -4 200 0.075 $ 13,446,981.00
ERX EXORE RESOURCES -5 28 0.11 $ 61,882,392.00
CLA CELSIUS RESOURCES -5 11 0.02 $ 14,824,144.00
AWV ANOVA METALS -5 232 0.038 $ 46,299,108.00
GUL GULLEWA -5 200 0.09 $ 14,613,579.00
BCN BEACON MINERALS -5 -35 0.037 $ 100,249,928.00
VRC VOLT RESOURCES -6 14 0.018 $ 36,369,996.00
NUS NUSANTARA RESOURCES -6 46 0.335 $ 71,214,064.00
SLZ SULTAN RESOURCES -6 143 0.165 $ 10,259,428.00
PRX PRODIGY GOLD -6 -49 0.075 $ 41,805,188.00
NCM NEWCREST MINING -6 -7 34.23 $ 27,828,051,968.00
RXL ROX RESOURCES -6 76 0.06 $ 112,245,568.00
DGR DGR GLOBAL -6 -19 0.072 $ 55,186,388.00
DGO DGO GOLD -7 275 2.9 $ 172,298,832.00
RML RESOLUTION MINERALS -7 154 0.072 $ 19,283,484.00
RRL REGIS RESOURCES -7 -5 5.54 $ 2,770,533,120.00
CHN CHALICE GOLD MINES -7 437 1.02 $ 293,666,784.00
GSN GREAT SOUTHERN MINING -7 176 0.14 $ 55,227,928.00
RED RED 5 -7 -20 0.265 $ 489,897,440.00
CTO CITIGOLD CORP -7 117 0.013 $ 33,815,252.00
KGM KALNORTH GOLD MINES -7 30 0.013 $ 11,625,121.00
CAI CALIDUS RESOURCES -7 44 0.565 $ 150,484,288.00
EVN EVOLUTION MINING -8 9 5.97 $ 9,442,453,504.00
MZZ MATADOR MINING -8 33 0.425 $ 64,182,068.00
EMR EMERALD RESOURCES -8 51 0.6 $ 298,566,272.00
VMC VENUS METALS -8 -2 0.235 $ 36,258,884.00
KRM KINGSROSE MINING -8 -27 0.035 $ 26,280,264.00
WMX WILUNA MINING -8 -24 1.3 $ 121,568,784.00
NXM NEXUS MINERALS -8 44 0.069 $ 10,038,349.00
CMM CAPRICORN METALS -8 69 1.9125 $ 636,131,392.00
CY5 CYGNUS GOLD -8 129 0.175 $ 12,128,918.00
GRL GODOLPHIN RESOURCES -8 10 0.22 $ 13,934,957.00
SBM ST BARBARA -9 -14 3.4 $ 2,313,510,400.00
ERM EMMERSON RESOURCES -9 -25 0.105 $ 47,319,680.00
SAR SARACEN MINERAL HOLDINGS -9 24 5.57 $ 5,967,183,872.00
PRU PERSEUS MINING -9 61 1.46 $ 1,660,776,192.00
GOR GOLD ROAD RESOURCES -9 5 1.735 $ 1,473,873,920.00
SAU SOUTHERN GOLD -9 -9 0.15 $ 19,249,314.00
CGN CRATER GOLD MINING -9 -50 0.01 $ 12,274,959.00
KWR KINGWEST RESOURCES -9 -46 0.15 $ 17,676,280.00
BRB BREAKER RESOURCES -9 -37 0.25 $ 62,491,460.00
LEX LEFROY EXPLORATION -10 43 0.305 $ 27,633,854.00
BC8 BLACK CAT SYNDICATE -10 89 0.81 $ 86,529,936.00
ALK ALKANE RESOURCES -10 153 1.075 $ 627,987,584.00
RGL RIVERSGOLD -10 259 0.054 $ 16,577,125.00
AAR ANGLO AUSTRALIAN RESOURCES -10 177 0.18 $ 79,547,936.00
MSR MANAS RESOUCES -10 -10 0.0045 $ 13,215,812.00
DEG DE GREY MINING -10 1167 0.77 $ 859,968,064.00
MOH MOHO RESOURCES -10 136 0.135 $ 7,973,162.00
TLM TALISMAN MINING -10 51 0.13 $ 24,261,690.00
SKY SKY METALS -10 33 0.13 $ 39,637,144.00
OAU ORA GOLD -11 55 0.017 $ 13,453,524.00
A1G AFRICAN GOLD -11 10 0.17 $ 10,002,000.00
DCN DACIAN GOLD -11 -56 0.3475 $ 191,929,264.00
MCT METALICITY -12 279 0.025 $ 32,545,784.00
RSG RESOLUTE MINING -12 -36 1.25 $ 1,334,420,608.00
WGX WESTGOLD RESOURCES -12 -1 2.2 $ 911,899,712.00
GMR GOLDEN RIM RESOURCES -12 -12 0.015 $ 19,131,946.00
AUT AUTECO MINERALS -12 2983 0.185 $ 289,928,096.00
GNM GREAT NORTHERN MINERALS -12 120 0.022 $ 17,263,830.00
MEU MARMOTA -12 132 0.053 $ 49,369,720.00
KTA KRAKATOA RESOURCES -13 250 0.077 $ 18,319,350.00
MEI METEORIC RESOURCES -13 23 0.048 $ 59,103,088.00
TTM TITAN MINERALS -13 -27 0.14 $ 143,294,928.00
MKR MANUKA RESOURCES -13 160 0.53 $ 104,373,880.00
SVL SILVER MINES -13 81 0.255 $ 207,075,632.00
NST NORTHERN STAR RESOURCES -13 10 14.27 $ 10,741,102,592.00
BGL BELLEVUE GOLD -13 69 1.025 $ 800,288,640.00
TIE TIETTO MINERALS -14 121 0.53 $ 208,648,320.00
G88 GOLDEN MILE RESOURCES -14 -8 0.054 $ 5,172,594.50
RMS RAMELIUS RESOURCES -14 46 1.975 $ 1,559,521,920.00
MHC MANHATTAN CORP -14 650 0.031 $ 38,462,084.00
TSC TWENTY SEVEN CO -14 20 0.005 $ 7,431,604.50
AGS ALLIANCE RESOURCES -15 108 0.205 $ 36,551,516.00
DTM DART MINING -15 105 0.205 $ 14,991,821.00
VAN VANGO MINING -15 -39 0.115 $ 99,767,344.00
MAR MALACHITE RESOURCES -15 -49 0.051 $ 4,254,588.50
WAF WEST AFRICAN RESOURCES -15 116 0.955 $ 792,648,576.00
SLR SILVER LAKE RESOURCES -15 72 2.255 $ 1,954,148,992.00
HRN HORIZON GOLD -15 94 0.47 $ 40,069,244.00
MGV MUSGRAVE MINERALS -16 668 0.62 $ 283,465,376.00
CST CASTILE RESOURCES -16 15 0.23 $ 45,933,328.00
MDI MIDDLE ISLAND RESOURCES -17 186 0.021 $ 55,565,568.00
TNR TORIAN RESOURCES -17 74 0.015 $ 10,970,846.00
GSM GOLDEN STATE MINING -17 328 0.33 $ 21,331,756.00
RDS REDSTONE RESOURCES -18 40 0.015 $ 7,281,820.00
MTC METALSTECH -19 1094 0.215 $ 28,477,718.00
AOP APOLLO CONSOLIDATED -20 16 0.345 $ 92,837,976.00
ARV ARTEMIS RESOURCES -20 167 0.083 $ 86,227,784.00
CHZ CHESSER RESOURCES -22 386 0.185 $ 67,936,464.00
DCX DISCOVEX RESOURCES -22 0 0.007 $ 9,569,313.00
NAE NEW AGE EXPLORATION -25 125 0.009 $ 8,887,804.00
MLS METALS AUSTRALIA -33 0 0.003 $ 6,414,705.50

 

WEEKLY SMALL CAP HIGHLIGHTS

Copper-gold explorer Alicanto Minerals (ASX:AQI) appeared on investor radars earlier this month when certified company maker Ray Shorrocks joined the board .

This week the company announced a new drilling campaign at the Greater Falun project in Sweden, starting in September.

Shorrocks says people are already calling Alicanto ‘Bellevue (ASX:BGL) Mark 3’ or ‘Auteco (ASX:AUT) Mark 2’.

“I guarantee I would not have joined this board if we were chasing 200,000oz deposits,” he says. “We are looking for the high-grade, big tonnage stuff here.”

Explorer Golden Deeps (ASX:GED) went on a run after a $2.35m placement ostensibly attracted $12m worth of bids.

The funds will be used to explore the company’s recently acquired and historically underexplored gold projects in the red hot Lachlan Fold Belt in NSW.

And notable investor Stephen Copulos has picked up an 8.37 per cent stake in WA-focused microcap Aruma Resources (ASX:AAJ).

Copulos is best known for his holdings in Myer (ASX:MYR) and New Zealand-listed fast food play Restaurant Brands.

The post Gold Digger: Has gold lost its spark? Probably not appeared first on Stockhead.

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