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News.com.au
11-07-2025
- Business
- News.com.au
Gold Digger: Gold miners could still outperform after massive FY2025
Gold miners outperform key market indices in first half of 2025 But some fund managers continue to see gold miners as undervalued Big price moves for Falcon Metals and Yandal Resources this week This chart from Sprott's latest gold and silver update gives a strong sense of the outperformance of gold equities this year as tariff uncertainty and a US dollar flop has sent investors flocking to safe haven assets. Stock indices continue to perform strongly, but not as well as precious metals, with gold and silver bullion up around 25% to the end of June. Some good reasons behind that, Sprott's Paul Wong says. "While markets continue to recover from the early April selloff, the longer-term policy and structural risks remain in place and mostly unresolved," he said in the note. "These include the unsustainable and worsening trajectory of the US fiscal debt and deficit situation, a weakening US dollar policy, institutional erosion, rule of law and corruption, ongoing trade and tariff tensions, unilateral and capricious policy actions, and the list grows. "Taken in its entirety, we believe gold is being bought as a safe haven asset due to the US dollar's eroding store of value role and the fracturing of trust across nearly all global monetary and political orders and systems." And those haven't come close to gold stocks, which have surged 53%, according to the NYSE Arca Gold Miners Index Margin expansion, which typically runs proportionally ahead of the change in the actual gold price when prices are on the up, has been a big factor. That, on the face of things, could make gold stocks look a little overvalued at the moment, given equities have surged by a factor of 2x the gold price in 2025 so far. Not so, this fundie says It's always worth noting fundies tend to speak their own book. But after a 54.2% YTD gain, Cameron Judd, the portfolio manager out of Victor Smorgon Partners' gold fund, is understandably bullish. In an update on Thursday he noted the average Aussie dollar gold price in the quarter was $5129/oz, a 12% increase on the March quarter that came in as the largest absolute increase in 46 years. 'Given the sustained and steady increase in gold prices, gold miners continue to report higher revenues and investors are watching closely for higher margins to result in accelerating cashflows," Judd said. "We believe gold producers that can contain costs and demonstrate an ability to convert higher prices into cash on the balance sheet will be further rewarded through the second half of 2025.' Data out of the World Gold Council in its annual survey of central banks showed a record number central banks, powered by emerging markets institutions, expect central banks to accumulate gold in 2025. At ~1000t over the past three years, the buying trend had doubled from the average seen over the previous decade, Judd noted. He sees gold heading as high as US$4000/oz. "The gold price has risen for six straight months since the start of 2025. Gold's performance during times of crisis, portfolio diversification and inflation hedging are key themes driving central bank and other investors to accumulate more gold, which is maintaining upward pressure on the price,' he said. 'Victor Smorgon Partners holds the view that a 5% to 10% allocation of gold in a diversified portfolio of assets will provide superior risk-adjusted returns with lower volatility over time.' VSP's gold strategy has an estimated net return of 115.4% since its inception in May 2020, with the ASX gold equities index up 63.5% in the same time. Performance was less stellar in the back end of FY25, down 4.2% in the month of June and up 1.9% for the June quarter. Can the good times continue for gold stock pickers? The question may be less about the value of gold equities against gold and more about the value of gold equities compared to the rest of the market, Judd thinks. "Despite the strong gold price performance and fundamentals supporting further appreciation, gold miners are trading at discounted valuations on the ASX. (Emphasis not ours.) "Gold miners represent the most compelling opportunity in the gold sector. Gold miners are generating significant free cash flow, with implied margins at record highs exceeding A$1,500 /oz of production. "The ASX gold sector is trading on a 12-month forward EV/EBITDA of 4.5 times, significantly lower than the ASX All Ordinaries which is trading on 10.5 times." VSP's gold fund has 26% of its holding in +1Mozpa producers with 39% in mid-tiers producing less than 1Mozpa. On top of that, 8% of the allocation is in developers with 22% in explorers and 5% in cash. The vast bulk of its listed company investments are in Australia at 69%. Winners and losers CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.0085 0% -6% 6% 6% 21% $ 8,678,940.02 NPM Newpeak Metals 0.027 29% 145% 108% 100% 145% $ 6,763,506.35 MTC Metalstech Ltd 0.13 13% -7% -10% -43% -7% $ 27,133,811.38 GED Golden Deeps 0.022 0% -4% -8% -33% -12% $ 3,719,639.72 G88 Golden Mile Res Ltd 0.01 -9% -17% 11% -9% 11% $ 5,986,726.41 LAT Latitude 66 Limited 0.041 17% 8% -11% -73% 8% $ 5,449,226.79 NMR Native Mineral Res 0.175 0% -10% 338% 775% 349% $ 151,526,022.29 AQX Alice Queen Ltd 0.003 -14% 0% -63% -63% -63% $ 4,998,560.27 SLZ Sultan Resources Ltd 0.006 0% 20% 0% -25% 0% $ 1,388,819.46 KSN Kingston Resources 0.1425 4% 19% 85% 83% 101% $ 116,668,604.22 AMI Aurelia Metals Ltd 0.1925 -1% -39% 7% -13% 13% $ 338,514,528.00 GIB Gibb River Diamonds 0.034 13% 3% -15% -8% -15% $ 6,864,302.24 KCN Kingsgate Consolid. 2.55 7% 19% 93% 61% 98% $ 644,379,230.00 TMX Terrain Minerals 0.002 -20% -20% -43% -33% -33% $ 5,063,628.55 BNR Bulletin Res Ltd 0.059 7% -8% 51% 40% 51% $ 17,323,186.06 NXM Nexus Minerals Ltd 0.07 1% -21% 49% 75% 56% $ 42,263,172.91 SKY SKY Metals Ltd 0.063 7% 40% 21% 80% 17% $ 43,352,893.13 LM8 Lunnonmetalslimited 0.22 -10% 0% 5% 16% -12% $ 47,435,057.41 CST Castile Resources 0.058 0% 0% -16% -12% -28% $ 17,427,669.06 YRL Yandal Resources 0.17 98% 42% -8% 36% -3% $ 52,569,946.94 FAU First Au Ltd 0.0035 -13% 17% 75% 75% 75% $ 7,267,019.47 ARL Ardea Resources Ltd 0.425 6% 5% 35% -10% 29% $ 88,373,424.30 GWR GWR Group Ltd 0.098 7% 5% 24% 14% 23% $ 31,713,452.19 IVR Investigator Res Ltd 0.026 8% -26% 24% -46% 30% $ 41,585,109.86 GTR Gti Energy Ltd 0.0035 -13% -13% 17% -13% 0% $ 14,835,762.08 IPT Impact Minerals 0.007 0% 40% -33% -47% -26% $ 27,953,309.78 BNZ Benzmining 0.545 -2% 21% 47% 374% 58% $ 110,501,390.72 MOH Moho Resources 0.004 0% 0% -20% -33% -20% $ 2,981,656.11 BCM Brazilian Critical 0.011 -8% 10% 10% -31% 22% $ 13,105,332.35 PUA Peak Minerals Ltd 0.051 19% 143% 557% 1487% 557% $ 168,624,634.82 MRZ Mont Royal Resources 0.041 0% 0% 11% -29% -5% $ 3,486,221.51 SMS Starmineralslimited 0.025 -4% 14% -26% -11% -31% $ 4,645,166.33 MVL Marvel Gold Limited 0.013 0% -13% 63% 86% 44% $ 18,111,154.14 PRX Prodigy Gold NL 0.002 -33% 0% 0% -10% 0% $ 6,350,111.10 AAU Antilles Gold Ltd 0.005 0% 11% 67% 43% 67% $ 11,895,340.08 CWX Carawine Resources 0.097 1% 4% -3% 10% -3% $ 22,904,168.55 RND Rand Mining Ltd 1.88 -4% -1% 32% 26% 24% $ 106,073,667.27 CAZ Cazaly Resources 0.021 5% 24% 62% 5% 50% $ 9,687,362.81 BMR Ballymore Resources 0.16 7% 10% 31% 14% 33% $ 27,393,240.68 DRE Dreadnought Resources Ltd 0.01 11% -23% -17% -57% -17% $ 50,795,000.00 ZNC Zenith Minerals Ltd 0.033 -6% -15% -8% -30% -18% $ 14,412,955.20 REZ Resourc & En Grp Ltd 0.021 0% 62% -25% 40% -9% $ 14,104,421.56 LEX Lefroy Exploration 0.1 0% -5% 49% 2% 43% $ 26,084,114.49 ERM Emmerson Resources 0.13 4% -4% 67% 106% 69% $ 82,630,454.27 AM7 Arcadia Minerals 0.018 0% 0% -10% -55% -5% $ 2,112,901.79 ADT Adriatic Metals 5.79 2% 14% 51% 56% 48% $ 1,733,286,809.55 AS1 Asara Resources Ltd 0.052 -4% -12% 189% 420% 174% $ 52,856,536.70 CYL Catalyst Metals 4.89 -9% -26% 63% 247% 90% $ 1,309,270,762.80 CHN Chalice Mining Ltd 1.65 -11% 17% 53% 33% 49% $ 655,510,137.78 KAL Kalgoorliegoldmining 0.047 18% 2% 161% 81% 161% $ 16,795,200.36 MLS Metals Australia 0.017 0% -6% -23% -11% -26% $ 12,388,231.91 ADN Andromeda Metals Ltd 0.011 -8% -15% 83% -35% 57% $ 45,783,790.36 MEI Meteoric Resources 0.1375 15% 6% 56% -2% 62% $ 292,170,347.75 SRN Surefire Rescs NL 0.002 0% 0% -20% -66% -32% $ 4,972,890.78 WA8 Warriedarresourltd 0.105 -9% 0% 123% 72% 139% $ 129,393,960.19 HMX Hammer Metals Ltd 0.029 -9% -19% -17% -24% -12% $ 28,408,278.40 WCN White Cliff Min Ltd 0.024 9% 9% 33% 60% 50% $ 55,507,881.36 AVM Advance Metals Ltd 0.04 -18% -23% 18% 54% 18% $ 10,601,393.36 ASR Asra Minerals Ltd 0.002 0% 0% -20% -71% -33% $ 8,000,396.02 ARI Arika Resources 0.037 0% -10% 23% 85% 37% $ 28,183,065.77 CTO Citigold Corp Ltd 0.004 0% 14% 0% 0% 0% $ 12,000,000.00 SMI Santana Minerals Ltd 0.585 6% -5% 27% 48% 21% $ 390,268,084.50 M2R Miramar 0.004 0% 14% 0% -50% 33% $ 3,987,293.14 MHC Manhattan Corp Ltd 0.02 -9% -9% -20% -40% 5% $ 4,697,977.96 GRL Godolphin Resources 0.011 22% 10% -21% -35% -24% $ 4,488,733.12 SVG Savannah Goldfields 0.021 0% 5% 9% 4% 14% $ 20,548,386.70 EMC Everest Metals Corp 0.145 4% -3% 0% 12% 7% $ 30,257,719.43 GUL Gullewa Limited 0.068 5% -8% 19% -7% 21% $ 14,825,507.70 CY5 Cygnus Metals Ltd 0.09 3% -10% -25% 109% -10% $ 93,567,071.66 G50 G50Corp Ltd 0.21 5% 11% 45% 31% 35% $ 36,134,473.28 ADV Ardiden Ltd 0.16 7% 10% 19% 16% 19% $ 10,315,388.49 AAR Astral Resources NL 0.145 -6% -17% 0% 84% 7% $ 212,702,584.35 VMC Venus Metals Cor Ltd 0.115 10% -8% 64% 55% 72% $ 20,593,511.72 NAE New Age Exploration 0.0035 0% 0% -13% -22% 0% $ 8,117,734.22 VKA Viking Mines Ltd 0.006 -14% 0% -25% -25% -25% $ 9,407,641.24 LCL LCL Resources Ltd 0.006 -14% -14% -33% -25% -40% $ 7,195,542.91 MTH Mithril Silver Gold 0.45 0% -13% 6% 150% 13% $ 64,225,929.68 ADG Adelong Gold Limited 0.005 0% 0% 0% -9% 11% $ 10,343,383.37 RMX Red Mount Min Ltd 0.009 13% 0% 0% -10% 0% $ 5,143,569.65 PRS Prospech Limited 0.018 13% -10% -38% -50% -38% $ 8,712,995.40 TTM Titan Minerals 0.315 0% -19% -20% -25% -17% $ 79,515,240.33 AKA Aureka Limited 0.095 -21% -27% -47% -99% -30% $ 13,235,279.51 AAM Aumegametals 0.029 0% -15% -34% -52% -31% $ 18,123,391.26 KZR Kalamazoo Resources 0.09 -2% 2% 13% 11% 22% $ 19,087,235.98 BCNDA Beacon Minerals 1.05 -6% -6% 14% 1% 19% $ 108,301,383.15 MAU Magnetic Resources 1.44 -4% -16% 32% 21% 30% $ 386,412,881.76 BC8 Black Cat Syndicate 0.785 -4% -2% 11% 118% 39% $ 548,348,864.55 EM2 Eagle Mountain 0.006 0% 0% -25% -88% -33% $ 5,675,186.45 EMR Emerald Res NL 3.58 -10% -20% 5% -7% 10% $ 2,431,212,303.87 BYH Bryah Resources Ltd 0.007 0% -53% 75% 40% 133% $ 5,819,721.13 HCH Hot Chili Ltd 0.625 -2% 10% -17% -36% -11% $ 90,205,751.48 WAF West African Res Ltd 2.265 -3% -1% 42% 61% 58% $ 2,644,718,380.08 MEU Marmota Limited 0.039 -7% -5% -19% -15% 0% $ 46,543,078.71 NVA Nova Minerals Ltd 0.295 -6% -16% -21% 34% -20% $ 95,284,238.02 SVL Silver Mines Limited 0.1225 -2% -6% 66% -23% 57% $ 221,353,847.04 PGD Peregrine Gold 0.19 31% 36% 19% -10% 36% $ 16,545,309.50 ICL Iceni Gold 0.065 5% -30% -17% -17% -8% $ 21,284,685.99 FG1 Flynngold 0.033 6% 0% 32% 50% 32% $ 12,522,127.04 WWI West Wits Mining Ltd 0.0195 -11% -33% 30% 39% 39% $ 64,145,733.31 RML Resolution Minerals 0.0465 -11% 174% 323% 94% 288% $ 30,430,423.33 AAJ Aruma Resources Ltd 0.008 0% -20% -20% -27% -33% $ 2,623,524.20 HWK Hawk Resources. 0.022 16% 29% -4% -38% 0% $ 5,147,659.53 GMN Gold Mountain Ltd 0.002 100% 33% -33% -33% -33% $ 11,239,518.49 MEG Megado Minerals Ltd 0.034 36% 162% 127% 257% 100% $ 18,503,839.49 HMG Hamelingoldlimited 0.063 0% -24% 7% -21% -2% $ 12,493,124.97 BM8 Battery Age Minerals 0.054 2% -2% -44% -63% -49% $ 6,582,158.44 TBR Tribune Res Ltd 4.71 1% -4% 11% 42% 10% $ 250,272,727.29 FML Focus Minerals Ltd 0.365 4% -3% 83% 135% 115% $ 101,728,318.98 VRC Volt Resources Ltd 0.004 0% -20% 33% -11% 33% $ 18,739,397.64 ARV Artemis Resources 0.0055 10% -8% -35% -45% -31% $ 12,678,360.83 HRN Horizon Gold Ltd 0.5125 -8% -13% 7% 83% 7% $ 76,765,159.19 CLA Celsius Resource Ltd 0.007 0% 0% -26% -50% -36% $ 21,948,419.16 QML Qmines Limited 0.047 12% 31% -2% -20% -13% $ 22,531,295.28 RDN Raiden Resources Ltd 0.0045 13% -10% -70% -84% -59% $ 13,803,565.77 TCG Turaco Gold Limited 0.5 2% 3% 64% 138% 96% $ 504,195,659.80 KCC Kincora Copper 0.059 51% 51% 84% 37% 119% $ 11,758,754.40 GBZ GBM Rsources Ltd 0.017 13% 143% 143% 70% 113% $ 21,237,916.65 DTM Dart Mining NL 0.003 0% -14% -67% -83% -67% $ 3,594,166.73 MKR Manuka Resources. 0.048 9% 4% 85% 45% 71% $ 38,344,112.77 AUC Ausgold Limited 0.595 -13% -16% 40% 75% 42% $ 207,319,918.88 ANX Anax Metals Ltd 0.008 14% 0% -20% -67% -33% $ 6,179,652.97 EMU EMU NL 0.028 47% 65% 12% 12% 4% $ 5,281,211.70 SFM Santa Fe Minerals 0.2 43% 426% 525% 525% 545% $ 13,107,382.02 PNR Pantoro Gold Limited 2.9 -8% -18% 62% 71% 90% $ 1,190,223,186.99 CMM Capricorn Metals 9.23 -2% 1% 37% 79% 47% $ 4,073,710,450.95 VRL Verity Resources 0.023 15% -18% 24% -41% 18% $ 6,426,739.76 HAW Hawthorn Resources 0.055 -4% 12% 34% -8% 34% $ 19,095,889.94 BGD Bartongoldholdings 0.745 -10% -7% 210% 217% 204% $ 172,972,828.49 SVY Stavely Minerals Ltd 0.014 27% 0% -39% -52% -18% $ 6,528,505.12 AGC AGC Ltd 0.16 3% -9% 14% -48% 3% $ 41,055,555.52 RGL Riversgold 0.004 0% 0% 33% -27% 0% $ 6,734,850.37 TSO Tesoro Gold Ltd 0.03 3% 15% 43% -9% 50% $ 56,411,157.80 GUE Global Uranium 0.062 -10% -7% -19% -27% 3% $ 28,649,544.40 CPM Coopermetalslimited 0.036 -5% 3% -20% -45% -22% $ 2,820,803.40 MM8 Medallion Metals. 0.245 2% -4% 75% 362% 104% $ 127,161,422.50 FFM Firefly Metals Ltd 1.08 -4% 9% 11% 31% 17% $ 736,314,118.36 CBY Canterbury Resources 0.024 -11% -8% 4% -47% 9% $ 4,978,581.50 SLA Solara Minerals 0.17 0% 10% 0% -48% 89% $ 9,857,419.91 SFR Sandfire Resources 10.96 -4% -6% 12% 22% 18% $ 5,095,697,646.00 TAM Tanami Gold NL 0.061 2% 33% 103% 97% 103% $ 70,505,822.76 NWM Norwest Minerals 0.013 18% -13% -11% -58% 8% $ 12,588,661.31 ALK Alkane Resources Ltd 0.665 -4% -9% 27% 29% 30% $ 405,713,067.64 BMO Bastion Minerals 0.0015 0% -24% -52% -68% -52% $ 1,976,727.06 IDA Indiana Resources 0.086 1% 13% 37% 85% 41% $ 55,917,723.85 GSM Golden State Mining 0.007 -22% -13% -22% -30% -13% $ 1,955,594.41 NSM Northstaw 0.037 9% 17% 134% 316% 134% $ 11,359,363.90 GSN Great Southern 0.026 -4% 18% 53% 37% 73% $ 25,916,911.54 VAU Vault Minerals Ltd 0.39 -4% -7% 13% -5% 18% $ 2,686,976,985.89 DEG De Grey Mining 0 -100% -100% -100% -100% -100% $ 5,915,063,112.00 THR Thor Energy PLC 0.009 -10% -10% -31% -44% -31% $ 6,397,108.52 CDR Codrus Minerals Ltd 0.03 -9% -21% 76% -14% 76% $ 6,202,031.37 MDI Middle Island Res 0.019 0% -24% 58% 27% 58% $ 5,571,445.45 WTM Waratah Minerals Ltd 0.28 0% -24% 87% 2% 81% $ 63,048,311.82 POL Polymetals Resources 0.725 -8% -14% -17% 159% -9% $ 181,816,484.21 RDS Redstone Resources 0.003 -14% -25% 0% -40% 20% $ 3,619,935.74 NAG Nagambie Resources 0.015 -12% -12% -21% 36% -17% $ 12,049,535.16 BGL Bellevue Gold Ltd 0.92 -1% -2% -14% -53% -18% $ 1,395,128,171.12 GBR Greatbould Resources 0.061 -2% -2% 30% 13% 42% $ 57,057,138.18 KAI Kairos Minerals Ltd 0.028 -3% 0% 115% 229% 133% $ 73,665,541.29 KAU Kaiser Reef 0.175 -3% -5% 6% 3% 9% $ 103,870,576.25 HRZ Horizon 0.049 -4% 0% 7% 29% 23% $ 123,302,139.60 CDT Castle Minerals 0.07 -7% -24% 17% -42% 17% $ 7,888,650.76 RSG Resolute Mining 0.6575 0% 15% 58% 10% 66% $ 1,394,527,758.52 EVN Evolution Mining Ltd 7.445 -6% -13% 44% 100% 55% $ 15,117,957,795.80 CXU Cauldron Energy Ltd 0.009 0% 29% -29% -59% -23% $ 15,224,868.56 DLI Delta Lithium 0.1825 11% 1% -4% -27% 7% $ 121,812,104.64 ALY Alchemy Resource Ltd 0.005 -17% 0% -17% -17% -29% $ 5,890,381.28 NH3 Nh3Cleanenergyltd 0.05 47% 61% 150% 213% 178% $ 31,821,109.90 OBM Ora Banda Mining Ltd 0.66 -10% -37% -12% 86% 2% $ 1,365,768,352.33 AVW Avira Resources Ltd 0.007 0% 0% -65% -65% -65% $ 1,610,000.00 LCY Legacy Iron Ore 0.008 -11% -11% -11% -45% -20% $ 97,620,425.84 PDI Predictive Disc Ltd 0.43 9% 6% 76% 126% 87% $ 1,127,459,649.98 MAT Matsa Resources 0.065 -6% -10% 55% 150% 86% $ 47,208,393.73 ZAG Zuleika Gold Ltd 0.014 -7% 17% 17% -7% 8% $ 10,386,318.98 GML Gateway Mining 0.027 4% -13% 23% 13% 29% $ 10,629,327.67 SBM St Barbara Limited 0.2825 -4% -17% 1% 26% 26% $ 303,196,975.48 SBR Sabre Resources 0.008 -11% -11% -11% -47% -20% $ 3,944,619.33 STK Strickland Metals 0.15 3% 7% 90% 65% 76% $ 339,353,969.55 CEL Challenger Gold Ltd 0.08 -9% -10% 60% 54% 70% $ 155,006,939.18 GG8 Gorilla Gold Mines 0.35 -10% -35% 37% 895% 35% $ 237,005,712.97 NST Northern Star 16.185 -13% -23% -2% 24% 5% $ 23,742,477,715.38 OZM Ozaurum Resources 0.08 29% 7% 196% 51% 167% $ 15,120,723.62 TG1 Techgen Metals Ltd 0.027 0% -4% -21% -18% -23% $ 4,283,974.17 XAM Xanadu Mines Ltd 0.08 0% 1% 67% 38% 63% $ 183,296,895.12 AQI Alicanto Min Ltd 0.026 -4% -19% -30% 37% -30% $ 22,051,717.38 KTA Krakatoa Resources 0.011 -8% -8% 22% -21% 16% $ 7,560,864.06 ARN Aldoro Resources 0.355 0% 18% 18% 386% -7% $ 66,860,389.39 WGX Westgold Resources. 2.765 -3% -13% 5% 9% -2% $ 2,612,413,841.30 MBK Metal Bank Ltd 0.011 -8% -8% -27% -52% -27% $ 4,974,589.98 A8G Australasian Metals 0.067 0% -3% -14% -3% -15% $ 3,878,611.58 TAR Taruga Minerals 0.008 0% 0% -20% 14% -20% $ 5,710,032.46 DTR Dateline Resources 0.096 7% -4% 3100% 1500% 2643% $ 280,492,207.23 GOR Gold Road Res Ltd 3.185 -3% -5% 47% 81% 55% $ 3,487,340,982.60 S2R S2 Resources 0.069 3% -7% -10% -31% 3% $ 33,996,005.75 NES Nelson Resources. 0.003 0% 0% 0% 20% 0% $ 6,515,782.98 TLM Talisman Mining 0.145 -3% 7% -29% -45% -29% $ 28,248,052.35 BEZ Besragoldinc 0.05 -6% 32% -42% -49% -44% $ 20,774,848.25 PRU Perseus Mining Ltd 3.55 1% -8% 34% 41% 38% $ 4,828,315,375.84 SPQ Superior Resources 0.004 -11% 0% -33% -63% -33% $ 9,483,930.90 PUR Pursuit Minerals 0.071 8% 61% -24% -53% -26% $ 7,380,313.26 RMS Ramelius Resources 2.365 -3% -15% 8% 23% 14% $ 2,781,914,774.40 PKO Peako Limited 0.0025 -17% 25% -17% 8% -17% $ 3,719,354.90 ICG Inca Minerals Ltd 0.01 11% 100% 43% 67% 100% $ 14,713,750.26 A1G African Gold Ltd. 0.215 8% 34% 264% 835% 291% $ 110,644,374.12 NMG New Murchison Gold 0.017 0% 0% 70% 240% 89% $ 165,143,013.47 GNM Great Northern 0.014 0% -7% 17% 17% 0% $ 2,164,807.08 KRM Kingsrose Mining Ltd 0.032 7% 8% -9% -32% -9% $ 24,112,848.61 BTR Brightstar Resources 0.455 -3% -17% -9% 7% -9% $ 222,111,411.84 RRL Regis Resources 4.42 -2% -8% 60% 139% 73% $ 3,378,441,662.88 M24 Mamba Exploration 0.014 8% 17% 8% 8% 17% $ 3,837,152.93 TRM Truscott Mining Corp 0.049 0% -11% -37% -18% -37% $ 9,380,979.44 TNC True North Copper 0.38 -3% 21% -87% -93% -87% $ 47,131,631.56 MOM Moab Minerals Ltd 0.0015 50% 50% -50% -75% -25% $ 2,600,499.05 KNB Koonenberrygold 0.051 11% 19% 240% 292% 325% $ 45,103,135.75 AWJ Auric Mining 0.175 3% 3% -46% -27% -49% $ 32,546,692.85 ENR Encounter Resources 0.285 12% 27% -7% -66% -12% $ 147,143,734.11 SNG Siren Gold 0.051 6% -9% -4% -30% -22% $ 10,510,589.23 STN Saturn Metals 0.42 1% 17% 133% 127% 105% $ 181,565,787.69 USL Unico Silver Limited 0.33 12% 18% 65% 83% 69% $ 137,952,282.83 PNM Pacific Nickel Mines 0.024 0% 0% 0% 14% 0% $ 10,103,834.52 AYM Australia United Min 0.002 0% 0% 0% -33% -50% $ 3,685,154.97 HAV Havilah Resources 0.185 0% 0% -12% -14% -18% $ 62,762,414.76 SPR Spartan Resources 1.885 -2% -14% 19% 94% 34% $ 2,453,499,988.22 PNT Panthermetalsltd 0.01 -38% -33% 11% -54% -9% $ 3,009,045.48 MEK Meeka Metals Limited 0.1325 -12% -15% 33% 279% 72% $ 408,198,723.80 GMD Genesis Minerals 4.02 -6% -11% 48% 114% 63% $ 4,657,033,348.00 PGO Pacgold 0.062 0% -9% -17% -57% -17% $ 9,570,724.74 FEG Far East Gold 0.165 -8% 3% 0% 32% -8% $ 64,229,804.28 MI6 Minerals260Limited 0.11 -8% -21% -15% -33% -15% $ 237,743,333.30 IGO IGO Limited 4.59 6% 8% -7% -20% -4% $ 3,422,850,514.76 GAL Galileo Mining Ltd 0.15 11% 7% -6% -23% 20% $ 29,643,739.05 RXL Rox Resources 0.2975 -1% 6% 27% 113% 49% $ 223,919,417.70 PTN Patronus Resources 0.064 -1% 16% 14% 8% 31% $ 103,156,061.65 CLZ Classic Min Ltd 0.001 0% 0% 0% 0% 0% $ 3,017,699.21 TGM Theta Gold Mines Ltd 0.17 10% 31% 6% -3% -6% $ 149,021,621.60 FAL Falconmetalsltd 0.375 114% 188% 188% 44% 226% $ 33,630,000.00 SPD Southernpalladium 0.64 -2% 28% 13% 78% 7% $ 68,448,000.00 ORN Orion Minerals Ltd 0.011 -8% 0% -21% -35% -27% $ 68,504,478.18 TMB Tambourahmetals 0.021 -5% -9% -22% -52% 0% $ 3,235,981.01 TMS Tennant Minerals Ltd 0.0065 8% 8% -41% -69% -28% $ 7,461,232.91 AZY Antipa Minerals Ltd 0.56 -18% -26% 87% 409% 115% $ 325,037,662.32 PXX Polarx Limited 0.009 13% 13% 50% -31% 38% $ 19,004,007.82 TRE Toubani Res Ltd 0.29 4% 0% 100% 66% 71% $ 74,618,436.37 AUN Aurumin 0.089 -3% 3% 44% 162% 35% $ 44,663,412.96 GPR Geopacific Resources 0.029 12% 21% 45% 30% 45% $ 82,744,098.48 FXG Felix Gold Limited 0.14 4% -10% 27% 211% 67% $ 57,054,765.43 ILT Iltani Resources Lim 0.185 -21% -18% 0% -20% -10% $ 12,199,048.37 BRX Belararoxlimited 0.064 2% 8% -59% -78% -63% $ 10,367,934.53 TM1 Terra Metals Limited 0.048 4% 14% 50% -45% 71% $ 22,461,157.40 TOR Torque Met 0.15 0% 15% 194% 7% 183% $ 78,986,572.05 ARD Argent Minerals 0.022 0% -19% 16% 29% 29% $ 30,368,950.08 LM1 Leeuwin Metals Ltd 0.13 -4% -4% 8% 155% -7% $ 13,608,861.84 SX2 Southgold Consol 5.91 -17% -16% 0% 0% 0% $ 844,553,682.63 UVA Uvrelimited 0.12 0% 29% 41% 20% 35% $ 13,224,000.12 VTX Vertexmin 0.24 -8% -20% 9% 189% 16% $ 47,403,466.10 Falcon Metals (ASX:FAL) The market absolutely adores a Victorian gold story, bonanza grades and visible gold. That's the trifecta hit in the first wedge hole at Blue Moon, a prospect that has been interpreted as the down plunge extension of the Garden Gully Anticline, a trend that has historically produced 5.2Moz at 15g/t Au over 8km of strike. The ground surrounds the Bendigo mining permit, which remains in moratorium but has historically produced some 22Moz. That hit came in at 1.2m at 543g't from 544.2m, including 0.6m at 557g/t from 544.2m and 0.6m at 529g/t from 544.8m. The high grade strike was 5m up-dip from target T552, which was a bedding parallel quartz vein identified in the parent hole, Falcon said. The wedge hole remains in progress, planning to hit a depth of 670m and Falcon is now planning additional wedge holes to target zones closer to the fold hinge, the area where wider mineralisation is typically found around Bendigo. Let's get real though, this is what you want to see. "This outstanding result from the first wedge hole at Blue Moon is highly encouraging and it is exciting to see the abundance of visible gold present," Falcon MD Tim Markwell said. "The early success from the first phase of drilling shows the untapped potential of the Bendigo Goldfield as it continues northwards through Falcon's ground and we look forward to seeing the results as we get closer to the fold hinge where Bendigo-style saddle reefs could occur.' Falcon Metals has decent backing behind it. The explorer is a spinout of Tim Goyder's Gonneville nickel-copper-PGE discoverer Chalice Mining (ASX:CHN), which counts former Sirius Resources head honcho and S2 Resources (ASX:S2R) boss Mark Bennett as its chair. Yandal Resources (ASX:YRL) The explorer that does what it says on the tin, Yandal has a bunch of ground in the Yandal gold belt of WA, near major mining operations like Northern Star's Jundee and Bronzewing. Having caught the eye last year with results from its Siona discovery, aircore drilling at the Arrakis prospect on the Caladan Fold has investors dreaming of another discovery. YRL hit 11m at 2.1g/t from 90m in hole 25IWBAC023, 12m at 1.1g/t from 45m in 25IWBAC032 and 12m at 0.5g/t from 70m to end of hole in 25IWBAC032. Those shallow strikes show mineralisation over 800m of strike, which remains open to the southeast and northwest. The 125-hole, 12,500m program is expected to be completed in the next fortnight. "To intercept mineralisation of this tenure within a first pass aircore drilling across three consecutive 400m spaced lines is a significant early-stage success, which should not be understated. We are also observing very similar geology associated with mineralisation across all three lines, suggesting we may be dealing with a single continuous mineralised structure," YRL MD Chris Oorschot said. "The current aircore program is testing the full length of the Arrakis Prospect; there is ample opportunity for further positive results ahead of us as the company continues its pursuit of a large-scale gold discovery within the Yandal Greenstone Belt."
CNBC
12-06-2025
- Business
- CNBC
Gold's furious rally has cooled off, but these strategists say it's just a breather
The rally in gold has taken a back seat to other areas of the market in the past several weeks, but at least two strategists remain firmly bullish on what comes next. The spot price of gold has surged 29% this year, but the yellow metal has not made a new high in more than a month. That pause has come even as other precious metals, such as silver and palladium , have jumped. XAU= YTD mountain Gold has been one of the top performing assets in 2025. Paul Wong, a market strategist at Sprott Asset Management, told CNBC that this is likely a short-term break in the latest gold rally, caused by reduced fears around tariffs. "I think we're probably consolidating before the summer rally," Wong said. Joni Teves, UBS precious metals strategist, echoed that sentiment in a Wednesday note. "In spite of the pause in gold's uptrend for now, market sentiment appears reasonably unconcerned about the prospect of further consolidation in the near term. High levels of uncertainty around U.S. tariffs, fiscal policy and the Fed's consequent response reinforce the appeal to diversify portfolios, wherein gold stands out as an attractive option," Teves said. Gold is in a multi-year uptrend, boosted by several factors. For one thing, foreign governments and central banks have been buying gold in large quantities in part to diversify away from the U.S. dollar as the reserve currency of choice. Gold is also seen as a defensive asset, which makes it attractive when fears around global growth and the U.S. budget deficit flare up. Notably, the rally for gold this year has come alongside a sharp decline in the strength of the U.S. dollar . On Thursday, the ICE U.S. Dollar Index hit its lowest level in more than 3 years. "The main thing to look at really is the U.S. dollar, which continues to be very weak," Wong said. — CNBC's Michael Bloom contributed reporting.
Yahoo
28-04-2025
- Politics
- Yahoo
Judiciary recognizes hard-working citizens for ‘Juror Appreciation Week'
HONOLULU (KHON2) — April 28 through May 2, is Juror Appreciation Week. That's where the Judiciary recognizes the important contributions jurors make to society. First ever 'Farm to Sea Cuisine' highlights local sourcing of food at Ward Village Circuit Court Judge Paul Wong explained we need to thank our citizens for their contribution to the community and government. He said there's really no justice, and no American justice system, without juries. Juries end up being the 'conscience of our community.' It's common for people to not get excited when summoned, and feel that jury duty is an inconvenience, but Judge Wong said it can be explained when people participate in the jury selection process, he thinks the magnitude of the moment awakens their patriotism. They hear about the case, how important the case is to the community, and their sense of duty replaces their initial reluctance to serve. When jurors are selected and they work through a trial, they become invested in the case because it is now their case. Download the free KHON2 app for iOS or Android to stay informed on the latest news Jurors transform from reluctant citizens to invested, hard-working, and critical thinking judges. At the end of a trial, juror are, and should be, very proud of the work they did – they directly impacted, and ensured, that our democracy works. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
