Gold Digger: Silver is ‘flashing a strong buy signal’, experts say

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  • Since reaching its peak in the summer of 2020, silver has fallen ~35%
  • Smart money is going net long on silver, speculators almost net short; a good sign for silver outlook say Goehring & Rozencwajg
  • This week’s top ASX precious metals stocks: African Gold, GBM Resources

Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.

Since reaching its peak in the summer of 2020, the silver price has fallen ~35%.

The good news? The next bull market is approaching, say resources investors Goehring & Rozencwajg.

“Precious metals have now been through almost two years of corrective price action, and it has paid handsomely to have minimal exposure over the last two years,” they say.

“However, given that we are strong believers that huge gold and silver bull markets sit directly in front of us, we are carefully monitoring both markets for strong buy signals.”

One of those buy signals for silver is now flashing green, they say.

Watch the COMEX futures market

A precious metal ‘buy or sell’ signal investors should keep an eye on is the behaviour exhibited by traders in the COMEX futures market, Goehring & Rozencwajg say.

The Commodity Exchange, or COMEX, is the primary futures and options market for trading metals such as gold, silver, copper and aluminum.

(Futures = financial contract obligating the buyer and seller to exchange an asset at a predetermined future date and set price. Options = contract giving the buyer the right, but not the obligation, to buy [or sell] an asset at a specific price at any time during the life of the contract.)

Over the last 20 years, several significant buy signals have been given when commercial gold and silver traders positioned themselves net ‘long’ (believe prices will rise) and speculative traders went net ‘short’ (believe prices will fall).

Commercials (those who use the futures markets to hedge various commercial needs) represent the smart money.

Speculators (hedge funds, algorithmic traders, and other trend-followers) represent the dumb money.

Follow the smart money, Goehring & Rozencwajg say.

“Whenever smart money goes net long and dumb money goes net short, that often coincides with a significant bottom in precious metals,” they say.

“It doesn’t happen very often, but when it does, there is a significant buying opportunity.”

Is a silver bull market approaching?

While the positioning of commercial and speculative gold futures is not anywhere close to flashing a buy signal, silver is.

“As you can see from the chart below, commercials have slashed their net short position by almost 90% over the last three months,” Goehring & Rozencwajg say.

“And just as silver commercial players are on the verge of becoming net long, speculators are on their verge of going net short — a sign that the two-year corrective phase in silver is coming to a close.”

Pic: Bloomberg, Via Goehring & Rozencwajg

Winners & Losers

Here’s how ASX-listed precious metals stocks are performing:

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

Stocks missing from this list? Email [email protected]

CODE COMPANY 1 WEEK RETURN% 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
A1G African Gold Ltd. 103% 63% -16% -42% 0.13 $14,926,291
ANL Amani Gold Ltd 100% 33% 33% 0% 0.002 $47,386,882
NWM Norwest Minerals 61% 18% -25% -42% 0.045 $9,772,725
ALY Alchemy Resource Ltd 35% 84% 3% 169% 0.035 $43,403,821
GBZ GBM Rsources Ltd 34% 41% -52% -62% 0.055 $30,839,264
MBK Metal Bank Ltd 33% 0% -33% -53% 0.004 $10,460,991
QML Qmines Limited 29% 48% -29% -45% 0.2 $15,190,818
CST Castile Resources 28% 14% -25% -54% 0.12 $29,028,291
NMR Native Mineral Res 25% 3% -27% -41% 0.15 $7,042,942
AQX Alice Queen Ltd 25% 0% -69% -77% 0.0025 $5,500,625
SIH Sihayo Gold Limited 25% -17% -17% -72% 0.0025 $15,255,320
BRB Breaker Res NL 24% 46% 10% -10% 0.285 $92,864,665
PRS Prospech Limited 21% 3% -39% -62% 0.034 $2,216,154
BBX BBX Minerals Ltd 20% -10% -48% -65% 0.06 $29,203,289
RXL Rox Resources 18% -12% -44% -41% 0.225 $34,632,894
RMS Ramelius Resources 17% 16% -52% -55% 0.71 $619,330,366
TMX Terrain Minerals 17% 0% -33% -22% 0.007 $5,325,327
DRE Dreadnought Resources Ltd 17% 17% 192% 210% 0.1225 $380,316,694
GMN Gold Mountain Ltd 17% -22% 0% -65% 0.007 $8,898,895
ENR Encounter Resources 17% 8% -13% -33% 0.14 $47,401,980
E2M E2 Metals 16% 4% -33% -38% 0.145 $28,874,187
GOR Gold Road Res Ltd 14% 19% -9% 4% 1.4025 $1,538,583,186
ADV Ardiden Ltd 14% 0% -41% -27% 0.008 $18,678,347
ALK Alkane Resources Ltd 13% 6% -30% -20% 0.715 $434,124,629
HMX Hammer Metals Ltd 13% 26% -41% -2% 0.059 $49,203,555
ADT Adriatic Metals 13% 23% 1% -15% 2.48 $537,022,668
STK Strickland Metals 13% 27% -28% -42% 0.052 $79,159,814
BNR Bulletin Res Ltd 13% 13% -37% 80% 0.135 $40,962,754
PRU Perseus Mining Ltd 12% 31% -3% 12% 1.825 $2,573,383,531
GSR Greenstone Resources 12% -55% -13% 17% 0.028 $27,939,053
ARN Aldoro Resources 12% 30% 2% -46% 0.28 $30,964,449
NST Northern Star 12% 24% -9% -6% 8.83 $10,352,523,710
PNX PNX Metals Limited 11% 0% 0% -26% 0.005 $22,220,289
MZZ Matador Mining Ltd 11% 0% -54% -73% 0.11 $29,633,621
BAT Battery Minerals Ltd 11% 11% -44% -62% 0.005 $13,163,591
BNZ Benzmining 11% 12% -27% -30% 0.505 $36,285,466
IDA Indiana Resources 11% -5% -10% 5% 0.061 $29,512,094
EVN Evolution Mining Ltd 11% 11% -49% -44% 2.05 $3,816,621,401
YRL Yandal Resources 10% -24% -56% -73% 0.11 $14,878,404
SBM St Barbara Limited 10% -26% -62% -65% 0.505 $424,341,655
RED Red 5 Limited 10% -17% -56% -35% 0.17 $475,385,548
AUC Ausgold Limited 10% 15% -37% 2% 0.046 $93,355,829
KCN Kingsgate Consolid. 9% 6% 15% -3% 1.675 $378,457,975
RSG Resolute Mining 9% -1% -37% -53% 0.2025 $237,407,164
TG1 Techgen Metals Ltd 9% -20% -8% -38% 0.12 $6,569,875
CMM Capricorn Metals 9% 28% -16% 35% 3.4 $1,286,302,636
GSN Great Southern 9% 48% -16% -29% 0.049 $28,424,430
SVL Silver Mines Limited 9% 16% -16% -14% 0.185 $245,448,107
DEG De Grey Mining 9% 13% -9% -2% 1.07 $1,702,579,486
SFR Sandfire Resources 9% -5% -32% -38% 3.56 $1,505,366,501
LM8 Lunnonmetalslimited 8% -4% -30% 73% 0.77 $84,604,618
RND Rand Mining Ltd 8% 3% 0% -2% 1.55 $88,157,740
MEI Meteoric Resources 8% -7% -13% -28% 0.013 $19,841,866
KZR Kalamazoo Resources 8% -1% -52% -47% 0.195 $29,019,778
PNT Panthermetalsltd 8% -5% -17% 0% 0.195 $5,947,500
MKR Manuka Resources. 8% -4% -52% -63% 0.135 $38,612,751
BGL Bellevue Gold Ltd 8% 7% -19% -14% 0.745 $806,596,063
SVG Savannah Goldfields 7% -8% 10% 15% 0.22 $37,421,656
AWV Anova Metals Ltd 7% 7% 15% -32% 0.015 $23,971,413
KAI Kairos Minerals Ltd 7% -12% 3% 0% 0.03 $56,958,711
GTR Gti Energy Ltd 7% -6% -20% -48% 0.016 $24,087,737
HXG Hexagon Energy 7% 3% -56% -82% 0.016 $8,206,654
KIN KIN Min NL 7% 19% -11% -33% 0.08 $83,881,721
AAU Antilles Gold Ltd 7% 9% -25% -36% 0.049 $19,541,861
HRN Horizon Gold Ltd 6% -7% -20% -26% 0.33 $41,309,942
NML Navarre Minerals Ltd 6% 16% -41% -44% 0.05 $69,737,139
LYN Lycaonresources 6% -21% -39% 0% 0.25 $7,979,688
ADG Adelong Gold Limited 6% -15% -76% -79% 0.0085 $3,767,089
KAU Kaiser Reef 6% 19% -10% -18% 0.185 $23,410,289
WWI West Wits Mining Ltd 6% 27% -39% -53% 0.019 $38,190,716
TMZ Thomson Res Ltd 6% -10% -55% -79% 0.019 $15,320,971
RRL Regis Resources 6% 9% -26% -25% 1.52 $1,177,840,443
HCH Hot Chili Ltd 5% 15% -38% -59% 0.985 $118,250,754
SLZ Sultan Resources Ltd 5% 14% -35% -44% 0.1 $8,328,439
REZ Resourc & En Grp Ltd 5% 0% -55% -57% 0.02 $9,996,116
WCN White Cliff Min Ltd 5% 5% -31% 33% 0.02 $15,699,671
POL Polymetals Resources 5% 29% 74% 48% 0.2 $8,236,538
NCM Newcrest Mining 5% 10% -34% -29% 17.68 $16,024,199,178
HAV Havilah Resources 5% 7% 77% 68% 0.31 $94,991,763
SSR SSR Mining Inc. 5% 8% -26% 1% 21.92 $398,768,210
KTA Krakatoa Resources 5% 7% -47% 5% 0.064 $22,406,145
AMI Aurelia Metals Ltd 5% -41% -74% -70% 0.115 $148,492,466
GMD Genesis Minerals 4% 30% -18% -5% 1.17 $473,297,126
AUT Auteco Minerals 4% 27% -37% -41% 0.047 $101,323,979
GAL Galileo Mining Ltd 4% 0% 462% 402% 1.18 $236,889,912
IGO IGO Limited 4% 16% 25% 65% 16.25 $12,351,038,030
M24 Mamba Exploration 4% 4% -4% -38% 0.125 $5,271,875
WAF West African Res Ltd 4% 4% -21% -27% 1.025 $1,113,002,142
KNB Koonenberrygold 4% -1% -21% -55% 0.079 $5,984,759
KSN Kingston Resources 4% -2% -53% -62% 0.08 $33,071,730
KRM Kingsrose Mining Ltd 4% 4% -28% -10% 0.054 $40,636,432
VMC Venus Metals Cor Ltd 4% -6% -22% -24% 0.145 $24,011,802
FML Focus Minerals Ltd 4% 12% -38% -49% 0.145 $40,118,210
CAZ Cazaly Resources 3% -15% -18% -30% 0.031 $12,237,119
AM7 Arcadia Minerals 3% 5% 2% 63% 0.31 $14,476,347
CPM Coopermetalslimited 3% 6% -19% 0% 0.35 $13,132,000
EM2 Eagle Mountain 3% -19% -46% -73% 0.19 $50,970,362
VAN Vango Mining Ltd 3% 0% -27% -35% 0.04 $50,397,505
FEG Far East Gold 2% 5% 79% 0% 0.68 $82,985,303
MGV Musgrave Minerals 2% -4% -30% -41% 0.23 $121,628,914
TIE Tietto Minerals 2% 55% 45% 74% 0.705 $755,669,243
TBR Tribune Res Ltd 2% -6% -29% -32% 3.34 $175,243,377
IVR Investigator Res Ltd 2% 7% -23% -35% 0.048 $63,951,056
GIB Gibb River Diamonds 2% 2% -10% -32% 0.056 $11,844,529
AZS Azure Minerals 2% 60% -15% -36% 0.28 $87,006,002
GWR GWR Group Ltd 2% -23% -60% -56% 0.064 $20,557,866
BC8 Black Cat Syndicate 2% 5% -40% -43% 0.325 $65,268,223
NVA Nova Minerals Ltd 1% -1% 0% -55% 0.7 $126,726,280
PNM Pacific Nickel Mines 1% -19% -35% -42% 0.072 $25,799,719
WGX Westgold Resources. 1% 3% -50% -60% 0.775 $383,634,411
NAG Nagambie Resources 1% 5% 67% 7% 0.08 $42,293,715
AGG AngloGold Ashanti 1% 11% -28% -18% 4.1 $359,507,293
NPM Newpeak Metals 0% 0% 0% 0% 0.001 $8,853,750
FFX Firefinch Ltd 0% 0% -42% -8% 0.2 $236,248,644
MKG Mako Gold 0% -20% -51% -59% 0.041 $19,472,312
IPT Impact Minerals 0% 0% -44% -48% 0.007 $17,369,594
MOH Moho Resources 0% -21% -55% -62% 0.023 $4,776,231
PUA Peak Minerals Ltd 0% -25% -63% -63% 0.006 $6,248,225
MRZ Mont Royal Resources 0% -16% -42% -53% 0.19 $12,736,831
PRX Prodigy Gold NL 0% 22% -46% -63% 0.011 $19,226,711
CWX Carawine Resources 0% -9% -59% -57% 0.086 $11,853,754
LEX Lefroy Exploration 0% -3% -6% -36% 0.29 $41,574,280
KAL Kalgoorliegoldmining 0% -13% -25% 0% 0.105 $7,605,633
SRN Surefire Rescs NL 0% -7% -64% -10% 0.013 $20,557,725
MCT Metalicity Limited 0% 0% -36% -54% 0.004 $13,968,157
CTO Citigold Corp Ltd 0% 0% -29% -40% 0.006 $17,001,955
MHC Manhattan Corp Ltd 0% -13% -46% -46% 0.007 $12,210,230
TRY Troy Resources Ltd 0% 0% 0% 0% 0.0295 $62,920,961
CGN Crater Gold Min Ltd 0% 0% 0% 0% 0.017 $21,063,474
TSC Twenty Seven Co. Ltd 0% 0% -29% -43% 0.002 $10,643,256
GUL Gullewa Limited 0% 3% -23% -23% 0.062 $11,835,992
G50 Gold50Limited 0% -14% -49% -50% 0.12 $6,833,160
VKA Viking Mines Ltd 0% 14% -33% -60% 0.008 $8,202,067
LCL Los Cerros Limited 0% -21% -75% -84% 0.023 $15,615,573
MTH Mithril Resources 0% 0% -44% -64% 0.005 $14,701,165
XTC Xantippe Res Ltd 0% -22% -50% 75% 0.007 $57,016,609
BCN Beacon Minerals 0% 0% -29% -27% 0.024 $90,162,436
FG1 Flynngold 0% -8% -27% -31% 0.11 $7,046,716
TBA Tombola Gold Ltd 0% -3% -38% -15% 0.033 $36,033,120
PF1 Pathfinder Resources 0% 0% 0% 56% 0.5 $26,560,505
CLA Celsius Resource Ltd 0% -13% -43% -55% 0.013 $19,536,778
RDN Raiden Resources Ltd 0% -6% -52% -65% 0.008 $14,691,979
SFM Santa Fe Minerals 0% 2% -28% 9% 0.087 $6,335,235
OKR Okapi Resources 0% -2% -25% -59% 0.23 $31,466,801
CBY Canterbury Resources 0% 5% -27% -58% 0.044 $5,897,035
WMC Wiluna Mining Corp 0% 0% -68% -77% 0.205 $74,238,031
GBR Greatbould Resources 0% -3% -11% -46% 0.089 $37,212,751
HRZ Horizon 0% -19% -54% -56% 0.055 $34,177,831
CXU Cauldron Energy Ltd 0% -23% -33% -63% 0.01 $5,354,113
OBM Ora Banda Mining Ltd 0% 51% 95% -3% 0.08 $111,419,739
PDI Predictive Disc Ltd 0% 0% -15% 0% 0.175 $281,935,754
MAT Matsa Resources 0% 6% -40% -37% 0.038 $15,650,476
ZAG Zuleika Gold Ltd 0% -5% -40% -18% 0.018 $9,387,911
LRL Labyrinth Resources 0% -10% -51% -49% 0.019 $16,593,968
S2R S2 Resources 0% 4% -13% 59% 0.135 $48,151,105
TLM Talisman Mining 0% 0% -18% 0% 0.14 $25,344,832
SPQ Superior Resources 0% -10% 10% 246% 0.045 $76,554,919
PUR Pursuit Minerals 0% -4% -59% -68% 0.012 $11,978,150
GNM Great Northern 0% -11% -27% -50% 0.004 $6,836,204
DEX Duke Exploration 0% 10% -65% -71% 0.053 $4,781,191
MOM Moab Minerals Ltd 0% -20% -56% -68% 0.012 $8,183,562
AYM Australia United Min 0% -20% -33% -64% 0.004 $7,370,310
GCY Gascoyne Res Ltd 0% -10% -17% -53% 0.225 $95,857,932
CLZ Classic Min Ltd 0% 0% -88% -88% 0.017 $7,640,830
CHN Chalice Mining Ltd 0% 17% -33% -35% 4.33 $1,644,418,738
SLR Silver Lake Resource 0% 8% -44% -33% 1.115 $1,129,639,365
CY5 Cygnus Gold Limited -1% 92% 188% 241% 0.46 $75,178,404
ERM Emmerson Resources -1% 7% -27% -1% 0.08 $43,576,783
EMR Emerald Res NL -1% 0% -5% 13% 1.1 $652,851,081
DTR Dateline Resources -1% -17% -48% -22% 0.07 $39,345,622
MI6 Minerals260Limited -2% 20% -34% -36% 0.305 $66,000,000
X64 Ten Sixty Four Ltd -2% 1% -29% -20% 0.6 $137,035,981
ZNC Zenith Minerals Ltd -2% 5% -31% 28% 0.295 $98,257,250
XAM Xanadu Mines Ltd -2% 2% -19% -2% 0.0285 $40,249,416
RDT Red Dirt Metals Ltd -2% -12% 0% -21% 0.53 $176,346,453
AAJ Aruma Resources Ltd -2% 21% -29% -20% 0.07 $10,987,305
SMS Starmineralslimited -2% -3% -58% -60% 0.085 $2,514,300
MRR Minrex Resources Ltd -2% -9% -37% 121% 0.042 $45,495,070
MLS Metals Australia -2% -9% -76% 0% 0.04 $24,281,448
TAM Tanami Gold NL -2% -5% -33% -44% 0.04 $47,003,882
GMR Golden Rim Resources -3% -9% -43% -57% 0.039 $12,242,622
OZM Ozaurum Resources -3% -18% -46% -48% 0.078 $5,507,564
AME Alto Metals Limited -3% 10% -18% -29% 0.075 $40,090,313
AQI Alicanto Min Ltd -3% -18% -65% -77% 0.034 $13,616,249
TRM Truscott Mining Corp -3% -14% -33% 3% 0.034 $5,367,598
AGC AGC Ltd -3% -6% -34% -45% 0.066 $4,470,001
SMI Santana Minerals Ltd -3% -4% -14% 160% 0.65 $95,964,237
KWR Kingwest Resources -3% -20% -84% -75% 0.032 $9,015,258
ANX Anax Metals Ltd -3% -5% -48% -43% 0.057 $23,120,805
DCN Dacian Gold Ltd -3% 89% -39% -44% 0.14 $164,268,127
BGD Bartongoldholdings -3% 4% -39% -20% 0.14 $12,034,291
GRL Godolphin Resources -4% -8% -42% -46% 0.081 $9,587,925
MTC Metalstech Ltd -4% -8% 63% 7% 0.39 $65,960,540
G88 Golden Mile Res Ltd -4% -19% -61% -47% 0.026 $5,319,334
WRM White Rock Min Ltd -4% 10% -61% -77% 0.078 $15,046,679
STN Saturn Metals -4% 4% -32% -37% 0.26 $33,773,786
RVR Red River Resources -4% -17% -69% -67% 0.073 $37,847,908
SKY SKY Metals Ltd -4% -4% -52% -51% 0.048 $18,085,607
BYH Bryah Resources Ltd -4% -4% -60% -55% 0.024 $6,702,083
MEU Marmota Limited -4% -2% -8% 2% 0.045 $49,763,627
RGL Riversgold -4% 22% -35% 94% 0.044 $34,157,246
PGO Pacgold -5% -9% -41% 30% 0.42 $23,083,962
ADN Andromeda Metals Ltd -5% -11% -59% -77% 0.041 $124,400,337
MEK Meeka Metals Limited -5% -2% 30% 33% 0.06 $63,506,536
AWJ Auric Mining -5% -6% -16% -45% 0.072 $5,506,816
ARL Ardea Resources Ltd -5% 2% -43% 85% 0.89 $151,915,306
CAI Calidus Resources -5% -33% -65% -42% 0.345 $148,845,780
ASO Aston Minerals Ltd -6% 4% -48% -40% 0.075 $83,514,820
BMO Bastion Minerals -6% -30% -67% -75% 0.064 $6,169,579
THR Thor Mining PLC -6% -11% -47% -53% 0.008 $8,814,388
HMG Hamelingoldlimited -6% 15% -3% 0% 0.15 $16,500,000
KCC Kincora Copper -6% -12% -40% -57% 0.06 $4,438,007
CYL Catalyst Metals -6% -3% -36% -45% 1.17 $115,193,693
TTM Titan Minerals -7% 9% -25% -41% 0.071 $94,555,303
TCG Turaco Gold Limited -7% -18% -58% -71% 0.042 $17,964,100
HAW Hawthorn Resources -7% -7% -48% 58% 0.084 $28,015,311
SVY Stavely Minerals Ltd -7% -10% -64% -70% 0.14 $45,213,652
MXR Maximus Resources -7% -7% -54% -51% 0.042 $13,394,042
GSM Golden State Mining -7% -26% -55% -66% 0.034 $3,978,483
CHZ Chesser Resources -7% -13% -43% -55% 0.068 $39,992,371
GED Golden Deeps -7% -7% -19% 8% 0.013 $15,017,947
NSM Northstaw -7% -7% -55% -57% 0.13 $15,015,875
CDR Codrus Minerals Ltd -7% -17% -29% -54% 0.065 $2,600,000
AXE Archer Materials -7% -4% -17% -52% 0.715 $178,896,389
SNG Siren Gold -8% 3% -52% -50% 0.185 $21,631,213
ASR Asra Minerals Ltd -8% -4% -11% -20% 0.024 $35,142,277
ICL Iceni Gold -8% -29% -56% -73% 0.071 $9,101,946
AAR Astral Resources NL -8% -25% -36% -29% 0.058 $38,593,779
MDI Middle Island Res -8% -14% -59% -42% 0.058 $7,100,257
M2R Miramar -8% 1% -53% -47% 0.092 $6,502,720
CDT Castle Minerals -8% -12% -56% 28% 0.023 $23,987,832
NXM Nexus Minerals Ltd -8% -8% -48% -63% 0.165 $52,544,796
TGM Theta Gold Mines Ltd -9% 12% -44% -62% 0.075 $46,358,144
CEL Challenger Exp Ltd -9% -11% -52% -44% 0.155 $161,961,244
TAR Taruga Minerals -9% 11% 55% -33% 0.031 $18,011,830
RMX Red Mount Min Ltd -9% 0% -50% -50% 0.005 $8,211,819
SI6 SI6 Metals Limited -9% -29% -50% -58% 0.005 $8,929,134
SBR Sabre Resources -9% 0% -9% 0% 0.005 $14,574,280
SAU Southern Gold -9% -3% -41% -61% 0.029 $7,253,178
BMR Ballymore Resources -10% 0% 3% -21% 0.19 $13,960,835
MAU Magnetic Resources -10% 4% -42% -50% 0.83 $189,628,023
FAU First Au Ltd -10% -25% -69% -59% 0.0045 $4,657,055
MEG Megado Minerals Ltd -10% -10% -52% -24% 0.072 $7,851,513
LCY Legacy Iron Ore -10% -5% -31% 29% 0.018 $115,322,872
GML Gateway Mining -10% -18% -40% -60% 0.072 $16,272,789
BTR Brightstar Resources -10% -18% -36% -65% 0.018 $12,176,957
MM8 Medallion Metals. -11% 3% -35% -13% 0.17 $23,792,360
PKO Peako Limited -11% -20% -11% -27% 0.016 $6,066,911
MVL Marvel Gold Limited -13% -19% -54% -70% 0.021 $16,203,371
NAE New Age Exploration -13% -22% -46% -36% 0.007 $10,051,292
RDS Redstone Resources -13% 0% -30% -50% 0.007 $5,157,827
OAU Ora Gold Limited -13% -22% -56% -51% 0.007 $7,873,850
TUL Tulla Resources -14% -14% -37% -25% 0.38 $61,683,496
VRC Volt Resources Ltd -14% 4% 14% -17% 0.025 $79,695,931
DCX Discovex Res Ltd -14% -25% -61% -37% 0.003 $9,907,704
AVM Advance Metals Ltd -14% 9% -25% -29% 0.012 $5,734,529
AVW Avira Resources Ltd -14% -25% -50% -54% 0.003 $6,401,370
A8G Australasian Metals -15% -19% -50% -65% 0.235 $9,880,919
PNR Pantoro Limited -15% -9% -53% -34% 0.145 $228,557,971
TSO Tesoro Gold Ltd -15% 6% -56% -62% 0.034 $31,391,308
EMU EMU NL -17% -38% -74% -82% 0.005 $4,123,609
ICG Inca Minerals Ltd -17% -26% -70% -78% 0.029 $14,943,948
ARV Artemis Resources -18% -32% -48% -68% 0.032 $41,742,551
BEZ Besragoldinc -20% 5% -25% -72% 0.041 $10,336,663
AL8 Alderan Resource Ltd -20% -11% -67% -81% 0.008 $4,626,129
RML Resolution Minerals -23% 0% -33% -50% 0.01 $11,657,208
NES Nelson Resources. -25% -36% -59% -77% 0.007 $2,060,080
PGD Peregrine Gold -28% -26% -12% 9% 0.43 $15,875,838
DTM Dart Mining NL -29% -18% -18% -45% 0.06 $9,936,650

Small Cap Standouts

$14m market cap A1G Had an absolute belter this week after Barry ‘Midas Touch’ FitzGerald gave them a boost in his latest Stockhead column.

A1G has a large and underexplored gold system on its hands in Côte d’Ivoire with the potential for multi-million ounces, all for a $10m market cap, he says.

“That the stock is just above its 52-week low shows just how tough things are for the gold explorers because recent exploration news from A1G’s Didievi gold project deserves some attention,” he said when the stock was trading at 8.2c.

“Early in the week the company reported another batch of high-grade gold hits from both the Blaffo Gueto and Pranoi prospects at Didievi (10m at 123g/t from 66m, and 12m at 5.6g/t up from 24m respectively).

“More to the point, an independent review of the results has allowed the company to release a compliant ‘Exploration Target’ of 600,000ozs to 1.9mozs depending on the cut-off grade used in the calculation.”

 

Another good week for GBZ, which recently inked a $25m farm in agreement with gold giant Newcrest (ASX:NCM) over GBZ’s 330,000oz Mount Coolon project in the Drummond Basin of QLD.

NCM can acquire up to 75% of Mount Coolon by spending up to $25m and completing a series of exploration milestones – including 23,000m of drilling – over six years.

The deal frees up GBZ to focus its efforts (and money) on the nearby Twin Hills and Yandan gold projects, which have a combined resource of ~1.38Moz.

GBZ purchased Mount Coolon in February 2015 from DGO (recently acquired by Gold Road Resources) for $850,000 cash and 50m shares.

It has done some drilling since then but believes “a well-credentialed partner in Newcrest” is required to give the project a red-hot go.

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