Latest news with #TimMcCormack
News.com.au
04-07-2025
- Business
- News.com.au
Gold Digger: Feel down about your gold stocks? It could just be seasonal depression
The All Ords Gold sub-index is down 12% in the past month But June is often a down time for Aussie gold miners, Canaccord says Price bets from analysts remain bullish Wet weather got you feeling down in the dumps? There's seasonality, also, in the world of gold stocks. After a ripping start to 2025, the past month has disappointed. Gold equities may be the best asset class out over a 12 month time frame, close to 55% up if you use the ASX All Ords gold sub-index as a barometer. Over the past month, though, we're talking a 12.2% decline. That's even with a relatively stagnant gold price, which peaked at over US$3400/oz mid-month amid World War 3 fears stoked by Israeli-Iranian missile fire before dying down once a ceasefire set in. There may be reasons to remain optimistic, even if you're worried you've now got into gold miners and the top and are staring down from the precipice at a gaping abyss below. Gold stocks, as it turns out, are vulnerable to a sort of seasonal depression, a winter blues as it were. "Reflecting on a tough month of June for gold stocks, we analysed the monthly share price performance for six of the steady state producers over a six-year period to see if there was a seasonality trend," Canaccord Genuity analysts led by veteran gold bull Tim McCormack said. "The results are obvious; June was consistently the worst month on average. The purpose of this note is not to define the rationale behind the seasonality (June gold price moves are generally benign), but simply point to the potential for a rebound in the 2H of the calendar year, acknowledging that past performance is no guarantee of future results." In each of the past six years the six largest, long-standing ASX gold miners have finished June in the red as a collective at an average rate of 11%, the worst of any month. June quarter production reports are on the horizon, an opportunity for the big players to reclaim gains with expected strong cash flows, as bullion remains in the order of US$3340/oz ($5084/oz). Bullish Canaccord remains bullish on the gold thematic. They're not the only ones. State Street Investment Management, one of the world's top asset managers, this week assigned an 80% probability that gold prices will be flat to higher in the next 6-9 months. They have a 30% weighting on a bull scenario which could see gold approach US$4000/oz. There's plenty of downside protection, if State Street is to be believed, with its team led by head of gold strategy Aakash Doshi calling US$3000/oz "the new US$2000/oz). Gold's forecast further increase could be influenced by a few factors. State Street rates gold ETF investment to potentially go higher, with tonnages held by physically backed ETFs around 20% below their late 2020 peak. There's also the prospect of a Chinese consumer rebound from non-traditional sectors now permitted to hold bullion like insurance treasuries, strong central bank demand, global debt at an all time high of close to 30% of government balance sheets and the potential for rate cuts from the US Fed. BMI Commodity Insights meanwhile maintained a US$3100/oz gold price forecast in its latest update, but cautioned there were "downside risks". It has bullion dropping to US$2900/oz in 2026 and US$2700/oz in 2027, eventually falling to US$2400/oz in 2029. Winners & Losers CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.008 0% -11% 7% -11% 14% $ 8,678,940.02 NPM Newpeak Metals 0.021 5% 75% 91% 17% 91% $ 6,763,506.35 MTC Metalstech Ltd 0.13 0% 4% -16% -46% -7% $ 24,002,986.99 GED Golden Deeps 0.022 10% 22% -19% -35% -12% $ 3,896,765.42 G88 Golden Mile Res Ltd 0.01 -9% -44% 11% -9% 11% $ 5,986,726.41 LAT Latitude 66 Limited 0.035 52% -4% -19% 1650% -8% $ 5,019,024.68 NMR Native Mineral Res 0.1825 -1% -9% 356% 769% 368% $ 160,709,417.58 AQX Alice Queen Ltd 0.004 33% 33% -50% -50% -50% $ 3,748,920.20 SLZ Sultan Resources Ltd 0.006 -14% 20% 0% -33% 0% $ 1,388,819.46 KSN Kingston Resources 0.15 7% 15% 95% 86% 111% $ 111,174,423.89 AMI Aurelia Metals Ltd 0.185 -5% -41% 3% -5% 9% $ 330,051,664.80 GIB Gibb River Diamonds 0.032 28% -6% -20% -26% -20% $ 6,435,283.35 KCN Kingsgate Consolid. 2.42 7% 14% 83% 53% 88% $ 616,026,543.88 TMX Terrain Minerals 0.0025 25% 0% -38% -38% -17% $ 6,329,535.68 BNR Bulletin Res Ltd 0.056 -3% -8% 47% 37% 44% $ 16,442,346.09 NXM Nexus Minerals Ltd 0.07 -1% -9% 40% 79% 56% $ 41,659,413.30 SKY SKY Metals Ltd 0.063 24% 31% 17% 80% 17% $ 41,931,486.79 LM8 Lunnonmetalslimited 0.235 7% -2% -6% 7% -6% $ 54,053,902.63 CST Castile Resources 0.057 2% 16% -22% -21% -29% $ 17,733,417.64 YRL Yandal Resources 0.085 -6% -29% -51% -39% -51% $ 26,594,208.45 FAU First Au Ltd 0.004 14% 33% 167% 100% 100% $ 8,305,165.11 ARL Ardea Resources Ltd 0.4 1% 3% 23% -17% 21% $ 84,165,166.00 GWR GWR Group Ltd 0.092 1% -3% 14% 7% 15% $ 29,771,812.26 IVR Investigator Res Ltd 0.025 4% 0% 19% -44% 25% $ 41,585,109.86 GTR Gti Energy Ltd 0.003 0% -25% 0% -33% -14% $ 11,995,798.65 IPT Impact Minerals 0.008 33% 60% -15% -44% -15% $ 27,687,309.78 BNZ Benzmining 0.6 38% 33% 69% 362% 74% $ 90,834,588.38 MOH Moho Resources 0.004 0% 0% 0% -33% -20% $ 2,981,656.11 BCM Brazilian Critical 0.012 9% 20% 33% -25% 33% $ 15,726,398.82 PUA Peak Minerals Ltd 0.051 96% 155% 484% 2016% 557% $ 120,714,815.47 MRZ Mont Royal Resources 0.041 0% 0% -5% -41% -5% $ 3,486,221.51 SMS Starmineralslimited 0.025 4% 4% -29% -8% -31% $ 4,830,972.98 MVL Marvel Gold Limited 0.013 8% -7% 44% 63% 44% $ 18,111,154.14 PRX Prodigy Gold NL 0.002 0% -33% 0% -10% 0% $ 9,525,166.65 AAU Antilles Gold Ltd 0.005 0% 25% 67% 25% 67% $ 11,895,340.08 CWX Carawine Resources 0.096 0% -2% -4% 16% -4% $ 22,668,043.10 RND Rand Mining Ltd 1.965 10% 2% 33% 31% 30% $ 111,761,263.37 CAZ Cazaly Resources 0.021 24% 40% 56% 0% 50% $ 9,226,059.82 BMR Ballymore Resources 0.155 0% -7% 19% -3% 29% $ 26,509,587.75 DRE Dreadnought Resources Ltd 0.009 -10% -31% -25% -63% -25% $ 45,715,500.00 ZNC Zenith Minerals Ltd 0.035 -8% -13% -13% -31% -13% $ 14,412,955.20 REZ Resourc & En Grp Ltd 0.021 17% 24% -13% 75% -9% $ 14,104,421.56 LEX Lefroy Exploration 0.11 10% 12% 53% 10% 57% $ 24,842,013.80 ERM Emmerson Resources 0.125 0% -4% 44% 131% 62% $ 79,452,359.88 AM7 Arcadia Minerals 0.018 13% 20% -14% -57% -5% $ 2,112,901.79 ADT Adriatic Metals 5.68 2% 10% 45% 51% 46% $ 1,727,501,747.11 AS1 Asara Resources Ltd 0.052 6% -2% 189% 420% 174% $ 59,463,603.79 CYL Catalyst Metals 5.35 1% -26% 94% 382% 107% $ 1,349,556,017.04 CHN Chalice Mining Ltd 1.73 5% 48% 55% 42% 57% $ 719,699,557.80 KAL Kalgoorliegoldmining 0.039 -5% -20% 105% 26% 117% $ 15,268,363.96 MLS Metals Australia 0.017 -6% -6% -26% -11% -26% $ 12,388,231.91 ADN Andromeda Metals Ltd 0.012 0% 9% 71% -20% 71% $ 45,783,790.36 MEI Meteoric Resources 0.115 5% -4% 25% -26% 35% $ 280,483,533.84 SRN Surefire Rescs NL 0.002 33% 0% -32% -70% -32% $ 4,972,890.78 WA8 Warriedarresourltd 0.11 -8% -4% 134% 90% 150% $ 134,855,035.09 HMX Hammer Metals Ltd 0.038 31% 6% 15% 6% 15% $ 28,408,278.40 WCN White Cliff Min Ltd 0.022 0% -8% 33% 57% 38% $ 53,094,495.21 AVM Advance Metals Ltd 0.049 4% 11% 44% 104% 44% $ 12,986,706.87 ASR Asra Minerals Ltd 0.002 33% 0% -33% -56% -33% $ 8,000,396.02 ARI Arika Resources 0.037 12% -12% 42% 85% 37% $ 28,965,928.71 CTO Citigold Corp Ltd 0.004 33% 33% 0% -11% 0% $ 12,000,000.00 SMI Santana Minerals Ltd 0.55 2% -1% 15% 47% 13% $ 397,495,271.25 M2R Miramar 0.004 14% 33% 0% -56% 33% $ 3,987,293.14 MHC Manhattan Corp Ltd 0.022 10% -4% 0% -12% 16% $ 5,167,775.76 GRL Godolphin Resources 0.0095 6% -5% -27% -50% -34% $ 4,039,859.81 SVG Savannah Goldfields 0.023 28% 10% 14% 38% 25% $ 23,973,117.82 EMC Everest Metals Corp 0.14 4% -3% 4% 0% 4% $ 31,378,375.70 GUL Gullewa Limited 0.071 1% -4% 27% -7% 27% $ 14,171,441.18 CY5 Cygnus Metals Ltd 0.089 2% -5% -26% 123% -11% $ 92,503,809.49 G50 G50Corp Ltd 0.2 43% 11% 25% 0% 29% $ 32,119,531.80 ADV Ardiden Ltd 0.15 7% 0% 7% 20% 11% $ 10,002,800.96 AAR Astral Resources NL 0.155 -9% -14% 11% 99% 15% $ 219,792,670.50 VMC Venus Metals Cor Ltd 0.105 0% -25% 57% 50% 57% $ 20,593,511.72 NAE New Age Exploration 0.0035 17% 17% 0% -13% 0% $ 9,470,689.92 VKA Viking Mines Ltd 0.006 0% 0% -33% -25% -25% $ 8,063,692.49 LCL LCL Resources Ltd 0.007 40% 0% -13% -13% -30% $ 8,394,800.06 MTH Mithril Silver Gold 0.44 -11% 2% 2% 151% 10% $ 64,955,769.79 ADG Adelong Gold Limited 0.005 11% 0% 0% -29% 11% $ 10,343,383.37 RMX Red Mount Min Ltd 0.01 11% 11% 0% 0% 11% $ 3,719,662.37 PRS Prospech Limited 0.016 7% -27% -41% -41% -45% $ 6,061,214.19 TTM Titan Minerals 0.325 -4% -19% -14% -35% -14% $ 82,122,297.39 AKA Aureka Limited 0.115 -4% -4% -18% -99% -15% $ 15,756,285.13 AAM Aumegametals 0.03 0% -12% -25% -48% -29% $ 17,519,278.22 KZR Kalamazoo Resources 0.09 0% 10% 22% 6% 22% $ 20,184,203.56 BCN Beacon Minerals 0.026 -7% -10% 13% 0% 18% $ 118,339,889.50 MAU Magnetic Resources 1.49 -2% -16% 33% 22% 35% $ 402,513,418.50 BC8 Black Cat Syndicate 0.815 7% -4% 41% 159% 44% $ 580,188,476.04 EM2 Eagle Mountain 0.006 0% 20% -40% -86% -33% $ 6,810,223.73 EMR Emerald Res NL 3.96 -2% -19% 19% 11% 22% $ 2,617,208,689.54 BYH Bryah Resources Ltd 0.006 -50% -60% 100% 50% 100% $ 6,789,674.65 HCH Hot Chili Ltd 0.61 7% 5% -14% -40% -13% $ 96,270,003.68 WAF West African Res Ltd 2.33 6% -18% 56% 47% 62% $ 2,667,430,371.06 MEU Marmota Limited 0.041 3% -2% 5% -9% 5% $ 49,488,843.18 NVA Nova Minerals Ltd 0.315 -2% -10% -19% 62% -15% $ 101,744,186.36 SVL Silver Mines Limited 0.12 4% 14% 56% -23% 54% $ 230,576,924.00 PGD Peregrine Gold 0.155 0% 35% 7% -18% 11% $ 12,302,922.45 ICL Iceni Gold 0.061 9% -29% -23% 2% -14% $ 21,284,685.99 FG1 Flynngold 0.03 0% 0% 15% 20% 20% $ 12,130,810.57 WWI West Wits Mining Ltd 0.021 0% -30% 50% 75% 50% $ 72,369,545.27 RML Resolution Minerals 0.052 0% 247% 333% 117% 333% $ 34,222,579.92 AAJ Aruma Resources Ltd 0.008 -16% -11% -33% -33% -33% $ 2,623,524.20 HWK Hawk Resources. 0.019 27% 27% -14% -39% -14% $ 5,147,659.53 GMN Gold Mountain Ltd 0.003 200% 100% 0% 20% 0% $ 5,619,759.25 MEG Megado Minerals Ltd 0.026 53% 86% 73% 173% 53% $ 15,167,081.55 HMG Hamelingoldlimited 0.065 2% -27% 2% -19% 2% $ 12,889,732.12 BM8 Battery Age Minerals 0.055 -5% 12% -45% -71% -48% $ 6,460,266.62 TBR Tribune Res Ltd 4.77 2% -6% 12% 47% 11% $ 243,976,558.05 FML Focus Minerals Ltd 0.35 -1% -13% 100% 126% 106% $ 100,295,525.75 VRC Volt Resources Ltd 0.0035 17% -13% 17% -13% 17% $ 18,739,397.64 ARV Artemis Resources 0.006 0% 20% -25% -54% -25% $ 12,678,360.83 HRN Horizon Gold Ltd 0.545 -3% -6% 3% 82% 14% $ 81,110,356.88 CLA Celsius Resource Ltd 0.007 0% 0% -33% -53% -36% $ 21,948,419.16 QML Qmines Limited 0.042 -5% 17% -22% -24% -22% $ 18,134,750.00 RDN Raiden Resources Ltd 0.004 0% -33% -64% -87% -64% $ 13,803,565.77 TCG Turaco Gold Limited 0.5 9% -7% 85% 133% 96% $ 509,393,553.20 KCC Kincora Copper 0.04 3% 14% 48% -15% 48% $ 9,183,684.43 GBZ GBM Rsources Ltd 0.015 15% 114% 88% 36% 88% $ 21,237,916.65 DTM Dart Mining NL 0.003 0% -14% -67% -86% -67% $ 3,594,166.73 MKR Manuka Resources. 0.044 7% 10% 63% 19% 57% $ 36,676,977.44 AUC Ausgold Limited 0.635 -16% -9% 46% 92% 51% $ 243,064,732.48 ANX Anax Metals Ltd 0.007 75% -22% -42% -71% -42% $ 6,179,652.97 EMU EMU NL 0.019 -5% 6% -30% -30% -30% $ 4,013,720.89 SFM Santa Fe Minerals 0.145 368% 272% 368% 353% 368% $ 10,194,630.46 PNR Pantoro Gold Limited 3.23 7% -8% 100% 94% 111% $ 1,237,360,738.95 CMM Capricorn Metals 9.39 -5% -5% 45% 96% 50% $ 4,069,399,646.24 VRL Verity Resources 0.02 0% -29% 14% -49% 3% $ 5,588,469.36 HAW Hawthorn Resources 0.056 2% 6% 37% -7% 37% $ 19,095,889.94 BGD Bartongoldholdings 0.8 1% 0% 220% 186% 227% $ 185,264,631.17 SVY Stavely Minerals Ltd 0.0105 5% -13% -56% -60% -38% $ 5,984,463.02 AGC AGC Ltd 0.16 10% -6% 7% -46% 3% $ 39,772,569.41 RGL Riversgold 0.004 0% 0% 0% -20% 0% $ 6,734,850.37 TSO Tesoro Gold Ltd 0.027 -4% 4% 32% -23% 35% $ 58,425,842.00 GUE Global Uranium 0.068 10% 1% 8% -19% 13% $ 31,378,072.44 CPM Coopermetalslimited 0.038 9% 6% -17% -43% -17% $ 2,977,514.70 MM8 Medallion Metals. 0.235 -6% -22% 88% 361% 96% $ 122,074,965.60 FFM Firefly Metals Ltd 1.105 10% 3% 26% 43% 19% $ 720,237,390.88 CBY Canterbury Resources 0.024 -17% -11% 9% -47% 9% $ 5,600,904.19 SLA Solara Minerals 0.17 -3% 21% 13% -31% 89% $ 9,857,419.91 SFR Sandfire Resources 11.33 3% -1% 22% 29% 22% $ 5,256,372,797.00 TAM Tanami Gold NL 0.06 9% 20% 100% 88% 100% $ 70,505,822.76 NWM Norwest Minerals 0.011 -8% 0% -20% -57% -8% $ 10,651,944.18 ALK Alkane Resources Ltd 0.69 -5% -10% 30% 41% 35% $ 420,851,614.94 BMO Bastion Minerals 0.002 33% 27% -43% -58% -36% $ 1,807,255.13 IDA Indiana Resources 0.087 5% 10% 40% 88% 43% $ 54,632,258.93 GSM Golden State Mining 0.008 0% 0% 0% -27% 0% $ 2,514,335.67 NSM Northstaw 0.036 13% 10% 128% 305% 128% $ 10,438,334.39 GSN Great Southern 0.026 4% 8% 63% 53% 73% $ 26,913,715.83 VAU Vault Minerals Ltd 0.405 0% -10% 21% 9% 23% $ 2,755,001,719.71 THR Thor Energy PLC 0.01 11% 11% -23% -38% -23% $ 7,107,898.35 CDR Codrus Minerals Ltd 0.031 3% -14% 82% -26% 82% $ 6,822,234.51 MDI Middle Island Res 0.019 -14% -14% 58% 46% 58% $ 5,571,445.45 WTM Waratah Minerals Ltd 0.275 -11% -19% 77% 12% 77% $ 65,383,434.48 POL Polymetals Resources 0.77 -7% -11% -2% 170% -3% $ 196,760,304.83 RDS Redstone Resources 0.0035 17% -30% 17% -30% 40% $ 3,619,935.74 NAG Nagambie Resources 0.015 -6% -12% -12% 15% -17% $ 13,656,139.85 BGL Bellevue Gold Ltd 0.925 6% -3% -19% -50% -18% $ 1,372,983,279.51 GBR Greatbould Resources 0.061 -2% -12% 42% 9% 42% $ 57,992,501.10 KAI Kairos Minerals Ltd 0.029 -6% 12% 107% 222% 142% $ 76,296,453.48 KAU Kaiser Reef 0.175 3% -8% 3% 17% 9% $ 106,838,307.00 HRZ Horizon 0.05 -2% 9% 14% 28% 25% $ 125,768,182.39 CDT Castle Minerals 0.079 11% -25% 5% -34% 32% $ 8,700,717.75 RSG Resolute Mining 0.645 2% 3% 59% 15% 63% $ 1,394,527,758.52 EVN Evolution Mining Ltd 7.81 4% -18% 59% 126% 62% $ 15,778,742,706.08 CXU Cauldron Energy Ltd 0.01 25% 43% -32% -58% -14% $ 16,120,449.06 DLI Delta Lithium 0.16 -6% -9% -6% -40% -6% $ 118,229,395.68 ALY Alchemy Resource Ltd 0.005 0% -17% -29% -9% -29% $ 7,068,457.54 NH3 Nh3Cleanenergyltd 0.041 24% 86% 116% 273% 128% $ 19,196,562.69 OBM Ora Banda Mining Ltd 0.74 -7% -41% 12% 124% 14% $ 1,375,187,444.41 AVW Avira Resources Ltd 0.007 0% 0% -65% -65% -65% $ 1,610,000.00 LCY Legacy Iron Ore 0.009 13% 0% 0% -33% -10% $ 87,858,383.26 PDI Predictive Disc Ltd 0.41 8% 5% 64% 122% 78% $ 1,035,689,678.47 MAT Matsa Resources 0.069 6% 1% 97% 156% 97% $ 50,609,179.74 ZAG Zuleika Gold Ltd 0.015 -6% 25% 15% -6% 15% $ 11,128,198.91 GML Gateway Mining 0.027 0% -13% 29% 17% 29% $ 10,629,327.67 SBM St Barbara Limited 0.29 0% -15% 18% 45% 29% $ 319,439,670.60 SBR Sabre Resources 0.009 13% 13% -10% -36% -10% $ 3,550,157.40 STK Strickland Metals 0.15 7% 3% 74% 43% 76% $ 328,042,170.57 CEL Challenger Gold Ltd 0.083 1% -14% 77% 46% 77% $ 181,764,808.63 GG8 Gorilla Gold Mines 0.38 -6% -28% 49% 1251% 46% $ 244,892,913.33 NST Northern Star 18.39 -2% -13% 17% 44% 19% $ 26,513,861,997.44 OZM Ozaurum Resources 0.062 -2% -23% 121% 24% 107% $ 14,204,316.13 TG1 Techgen Metals Ltd 0.026 8% 13% -21% -4% -26% $ 4,283,974.17 XAM Xanadu Mines Ltd 0.079 -1% 0% 58% 44% 61% $ 183,296,895.12 AQI Alicanto Min Ltd 0.028 8% 8% -24% 33% -24% $ 25,444,289.28 KTA Krakatoa Resources 0.012 9% 33% 33% -14% 26% $ 9,073,036.87 ARN Aldoro Resources 0.35 9% 11% -1% 386% -8% $ 65,028,597.90 WGX Westgold Resources. 2.85 -2% -10% -2% 17% 1% $ 2,678,431,519.60 MBK Metal Bank Ltd 0.012 0% -8% -29% -51% -20% $ 5,969,507.98 A8G Australasian Metals 0.067 2% 2% -11% -11% -15% $ 3,878,611.58 TAR Taruga Minerals 0.008 0% 0% -20% 14% -20% $ 5,710,032.46 DTR Dateline Resources 0.084 -1% -27% 2700% 833% 2300% $ 277,875,703.62 GOR Gold Road Res Ltd 3.25 -1% -4% 56% 86% 59% $ 3,552,524,926.20 S2R S2 Resources 0.071 6% -17% 4% -26% 6% $ 33,030,791.09 NES Nelson Resources. 0.003 20% 0% 0% 0% 0% $ 6,515,782.98 TLM Talisman Mining 0.15 3% 7% -30% -40% -27% $ 28,248,052.35 BEZ Besragoldinc 0.054 10% 46% -39% -45% -40% $ 22,021,339.15 PRU Perseus Mining Ltd 3.47 3% -13% 32% 48% 35% $ 4,746,685,447.00 SPQ Superior Resources 0.0045 -10% 13% -36% -50% -25% $ 10,669,422.26 PUR Pursuit Minerals 0.063 66% 54% -34% -58% -34% $ 6,582,441.56 RMS Ramelius Resources 2.38 -7% -19% 13% 27% 15% $ 2,816,385,809.58 PKO Peako Limited 0.003 50% 0% 50% 30% 0% $ 4,463,225.88 ICG Inca Minerals Ltd 0.009 13% 80% 80% 50% 80% $ 14,286,250.26 A1G African Gold Ltd. 0.185 -5% 6% 208% 781% 236% $ 105,375,594.40 NMG New Murchison Gold 0.017 -6% 0% 89% 240% 89% $ 175,464,451.81 GNM Great Northern 0.014 0% -18% 8% 27% 0% $ 2,319,436.16 KRM Kingsrose Mining Ltd 0.031 0% 3% -14% -30% -11% $ 22,605,795.57 BTR Brightstar Resources 0.465 -5% -21% -7% 16% -7% $ 222,111,411.84 RRL Regis Resources 4.47 0% -16% 73% 155% 75% $ 3,423,789,873.12 M24 Mamba Exploration 0.013 0% 0% 8% -19% 8% $ 3,837,152.93 TRM Truscott Mining Corp 0.049 0% -25% -37% -20% -37% $ 9,380,979.44 TNC True North Copper 0.405 8% 40% -87% -93% -87% $ 49,679,287.32 MOM Moab Minerals Ltd 0.001 0% -33% -67% -75% -50% $ 1,733,666.03 KNB Koonenberrygold 0.045 41% -26% 165% 221% 275% $ 47,135,854.03 AWJ Auric Mining 0.165 0% -13% -52% -11% -51% $ 31,616,787.34 ENR Encounter Resources 0.255 16% 9% -20% -66% -22% $ 124,698,079.75 SNG Siren Gold 0.049 2% -21% -27% -40% -25% $ 10,510,589.23 STN Saturn Metals 0.405 7% 25% 93% 138% 98% $ 190,758,992.13 USL Unico Silver Limited 0.3 13% 22% 50% 100% 54% $ 129,193,407.73 PNM Pacific Nickel Mines 0.024 0% 0% 0% -29% 0% $ 10,103,834.52 AYM Australia United Min 0.002 -33% -33% -50% -33% -50% $ 3,685,154.97 HAV Havilah Resources 0.18 6% 0% -18% -10% -20% $ 62,762,414.76 SPR Spartan Resources 1.89 -5% -17% 26% 103% 34% $ 2,460,605,919.36 PNT Panthermetalsltd 0.015 15% 25% 50% -7% 36% $ 5,115,377.32 MEK Meeka Metals Limited 0.145 0% -12% 71% 326% 88% $ 437,355,775.50 GMD Genesis Minerals 4.23 -3% -15% 67% 136% 71% $ 4,837,889,012.00 PGO Pacgold 0.063 2% -7% -16% -43% -16% $ 9,570,724.74 FEG Far East Gold 0.175 13% 21% 6% 75% -3% $ 66,064,941.54 MI6 Minerals260Limited 0.12 0% -17% -8% -14% -8% $ 248,079,999.96 IGO IGO Limited 4.26 6% 12% -13% -25% -11% $ 3,271,396,952.16 GAL Galileo Mining Ltd 0.135 23% 35% 0% -34% 8% $ 26,679,365.15 RXL Rox Resources 0.295 4% 0% 48% 127% 48% $ 223,896,463.20 PTN Patronus Resources 0.065 -4% 16% 27% 20% 33% $ 105,612,158.36 CLZ Classic Min Ltd 0.001 0% 0% 0% 0% 0% $ 3,017,699.21 TGM Theta Gold Mines Ltd 0.145 12% 12% -17% -19% -19% $ 127,517,150.77 FAL Falconmetalsltd 0.185 54% 54% 54% -24% 61% $ 30,975,000.00 SPD Southernpalladium 0.65 10% 38% 10% 81% 8% $ 69,517,500.00 ORN Orion Minerals Ltd 0.012 20% 0% -25% -20% -20% $ 82,205,373.82 TMB Tambourahmetals 0.023 5% 5% 0% -57% 10% $ 3,235,981.01 TMS Tennant Minerals Ltd 0.006 9% -14% -40% -74% -33% $ 6,395,342.49 AZY Antipa Minerals Ltd 0.685 -1% 5% 128% 585% 163% $ 396,986,880.34 PXX Polarx Limited 0.0085 21% 6% 42% -35% 31% $ 19,004,007.82 TRE Toubani Res Ltd 0.28 -3% -7% 81% 65% 65% $ 72,045,386.84 AUN Aurumin 0.09 -10% -10% 25% 150% 36% $ 45,655,933.25 GPR Geopacific Resources 0.025 0% 39% 25% 17% 25% $ 82,744,098.48 FXG Felix Gold Limited 0.13 -7% -19% 41% 171% 55% $ 59,249,179.49 ILT Iltani Resources Lim 0.22 -2% 0% 13% -14% 7% $ 15,496,088.47 BRX Belararoxlimited 0.065 10% -23% -64% -77% -63% $ 10,205,935.55 TM1 Terra Metals Limited 0.045 0% 29% 67% -42% 61% $ 21,983,260.44 TOR Torque Met 0.155 0% 24% 204% 19% 192% $ 78,986,572.05 ARD Argent Minerals 0.022 5% 0% 19% 38% 29% $ 31,815,090.56 LM1 Leeuwin Metals Ltd 0.13 0% -13% 13% 155% -7% $ 13,608,861.84 SX2 Southgold Consol 6.85 -7% -1% 0% 0% 0% $ 986,178,099.36 UVA Uvrelimited 0.125 45% 33% 40% 19% 40% $ 13,224,000.12 VTX Vertexmin 0.255 -4% 2% 21% 227% 23% $ 52,444,081.82 Santa Fe Minerals (ASX:SFM) We knew SFA about SFM until this week, a company with virtually no news to report until the big ticket item that it acquired the Eburnea gold project in Cote d'Ivoire from Turaco Gold (ASX:TCG). TCG is now a $520 million explorer thanks to its bet on the land of Didier Drogba and Yaya Toure (Kolo as well), which has emerged as the premier jurisdiction for new entrants into West Africa after military coups in Mali and Burkina Faso. SFM will be itching to follow in the footsteps of Eburnea's vendor, Turaco having plenty of work on its hands at the 3.55Moz Afema gold project. Historic drilling includes 26m at 4.82g/t and 30m at 1.92g/t at different points along a 2km mineralised zone in the Satama permit. SFM, which is raising $1.2m at 5c per share, is also picking up a 65% share in the Bouake North application, 35km from Endeavour Mining's 3Moz Lafigue gold mine. That placement came at a 61.3% premium and is already well out of the money, SFM shares fetching 14c on Friday (for a modest MC of $11m). Falcon Metals (ASX:FAL) Mark Bennett chaired Chalice Mining (ASX:CHN) spinoff Falcon announced some high grade gold intercepts from its first drill hole at Blue Moon, a prospect directly north of the 22Moz Bendigo Goldfield. It's chasing what the company says is a down-plunge extension of the Garden Gully anticline from where 5.2Moz at 15g/t Au has been historically produced. Those diamond drill hits, both from the same hole: 2.2m at 6.5g/t Au from 41.2m, including 0.3m at 39.2g/t Au from 41.2m; and 2.4m at 8.4g/t Au from 600m, including 0.3m at 48.7g/t Au from 600m; and 0.3m at 18.2g/t Au from 602.1m. "This is an exciting start to the drill program, intersecting high-grade veins in our first hole in the east limb of the anticline," Falcon MD Tim Markwell said. "The recognition of Bendigo-style mineralisation with visible gold proves our concept that the high-grade Bendigo lodes plunge into Falcon tenure and provides encouragement to drill wedge holes, in order to track these zones closer towards the fold hinge, where they are usually thickest.' A bit of visible gold in there as well. Nice to see our rock lickers have found a purpose for the 5c piece.
Business Insider
26-06-2025
- Business
- Business Insider
Canaccord Genuity Sticks to Its Buy Rating for Capricorn Metals Ltd (CMM)
Canaccord Genuity analyst Tim McCormack maintained a Buy rating on Capricorn Metals Ltd (CMM – Research Report) on June 24 and set a price target of A$10.60. The company's shares opened today at A$9.94. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter McCormack covers the Basic Materials sector, focusing on stocks such as Catalyst Metals Limited, Capricorn Metals Ltd, and Gold Road Resources Ltd. According to TipRanks, McCormack has an average return of 21.6% and a 63.61% success rate on recommended stocks. Currently, the analyst consensus on Capricorn Metals Ltd is a Moderate Buy with an average price target of A$9.78. Based on Capricorn Metals Ltd's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$205.31 million and a net profit of A$43.11 million. In comparison, last year the company earned a revenue of A$181.62 million and had a net profit of A$54.36 million
News.com.au
24-06-2025
- Business
- News.com.au
Broker Upgrades: WA gold developer becomes Canaccord's latest ‘spec buy'
Canaccord initiates Ausgold with a spec buy, $1.60 price target Key DFS due soon for 3Moz Katanning gold project Coking coal forecasts clipped by Argonaut Gold developers are starting to close the gap on miners as prices remain near record highs after a turbulent fortnight in the Middle East. At ~US$3330/oz, word of a potential ceasefire between Iran and Israel has brought the latest rally for bullion in check. But at current prices, a new gold mine is likely to be paid off faster and generate returns quicker than at any point since 1980, the last time prices were – on an inflation adjusted basis – in this wheelhouse. And analysts are not projecting the crash to be anywhere near as severe as it was in dark days of the late '80s. That's brought a wave of new developers under the watchful eye of expert gold equity analysts. One of those is Ausgold (ASX:AUC), which owns the 3.04Moz Katanning gold project in WA's Great Southern region, around 275km southeast of Perth. Katanning is a rare asset, a 3500km2 greenstone belt, effectively under the control of a single explorer, with 2.4Moz in measured and indicated resources. Canaccord Genuity analysts led by gold expert Tim McCormack have slapped a spec buy rating on the stock with a $1.60 price target. That's more than double its Tuesday closing price of 76c, itself a 5.5% intraday gain. The key definitive feasibility study on Ausgold's KGP is yet to be released to the ASX. But McCormack and his associates have already had a go at modelling the development. They anticipate Ausgold could come out with a 3.6Mtpa operation producing 118,000ozpa at an AISC of $2326/oz over a 10-year mine life. Under their modelling, the project will hit its nameplate operating rate in H1 CY28. The various iterations (of studies) outlined the potential for the asset to support a 3-5Mtpa mining/milling operation, producing 105-136kozpa and have a mine life of up to 10 years," McCormack and Co. said. "While instructive of the project's potential, a significant management change-out in 2024 has resulted in the project being rebuilt from the ground up, culminating in the upcoming DFS, which we expect to demonstrate KGP as a realistic and deliverable proposition." That shake-up included the introduction of former Roxgold CEO John Dorward as executive chair, with a string of high ranking international gold executives including Adrian Goldstone (Dundee Corporation), Mark Turner (Resolute Mining) and Paul Weedon (Fortuna Mining) all on board. Former Telfer general manager Mark Mitchell has been appointed COO, with Ben Stockdale as CFO. "In our view, the renewed team offers an excellent blend of experience across all the required work streams to bring the KGP to fruition," McCormack and his team said. More coking coal downgrades from Argonaut Over at Argonaut, analyst Jon Scholtz is optimistic about the long-term outlook for coking coal. But he's also downgraded price forecasts out to 2028, chopping his 2025 estimate by 6% to US$190.4/t, 2026 12% to US$231.30/t, 2027 9% to US$250/t and 2028 by 8% to US$258.80/t. Argonaut's long-term forecast of US$250/t has been left unchanged, with shortages due to the failure to approve new greenfield mines expected to lead to eye-watering price of US$280/t in 2029 and US$289.2/t in 2030, admittedly, well below the highs seen post Ukraine invasion in 2022. "Coking coal prices have been under pressure in CY25 and remain subdued due to supply being robust and demand being weak," Scholtz told Argonaut clients. "We have downgraded our near-term coking coal price forecasts, however we maintain our longer-term constructive view on a demand recovery, lack of greenfield supply and, importantly, price support from being well into the cost curve." It has three stocks under its coverage, preferred pick Whitehaven Coal (ASX:WHC), with a buy rating and $6.50 price target, Stanmore Coal (ASX:SMR) with a buy rating and $3 price target and Coronado Global Resources (ASX:CRN), with a buy rating and 30c price target. Coronado is the ropiest of those, with its US-Australian coal business sieving cash at current prices, but it has improved its outlook somewhat in recent weeks with moves to shore up liquidity and trim costs. "We maintain a preference for WHC (thermal coal support, operational leverage and capital management upside) and we highlight CRN's recent initiatives to provide liquidity and runway for the company in the current low coal price environment," Scholtz said. Whitehaven was trading at $5.57 a share on Tuesday, with Stanmore at $1.92 and Coronado at 13c. Lower coal prices saw Queensland's State budget report a drop in coal royalties from $10.52bn in FY24 to $6.17bn in FY25, with struggling junior Bowen Coking Coal (ASX:BCB) again taking a swipe at state royalty pressures in a trading halt notice announcing it was seeking funding to support its current operations. $10m capped Bowen, worth over $500m during the 2022 coal boom, has struggled to make ends meet since making its first coal shipments at the tail-end of that boom, regularly fingering the scale of the State's royalty hike for hurting investment in coking coal mines. Issued by the previous Labor government but maintained by David Crisafulli's LNP, the tiered coal royalty regime shifted from its pre-2022 level of 7% up to $100/t, 12.5% to $150/t and 15% beyond that with three additional tiers. Coal sales now draw 20% for the final $50 of coal sold between $175-225/t, 30% from $225-300/t and 40% for any dollar earned beyond $300/t. Front month coking coal futures are currently US$175/t.
Business Insider
12-06-2025
- Business
- Business Insider
Capricorn Metals Ltd (CMM) Receives a Rating Update from a Top Analyst
In a report released today, Tim McCormack from Canaccord Genuity maintained a Buy rating on Capricorn Metals Ltd (CMM – Research Report), with a price target of A$10.60. The company's shares opened today at A$9.19. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter McCormack covers the Basic Materials sector, focusing on stocks such as Gold Road Resources Ltd, Catalyst Metals Limited, and Genesis Minerals Limited. According to TipRanks, McCormack has an average return of 23.5% and a 66.13% success rate on recommended stocks. Capricorn Metals Ltd has an analyst consensus of Moderate Buy, with a price target consensus of A$9.57.
Business Insider
29-05-2025
- Business
- Business Insider
Positive Report for Genesis Minerals Limited (GMD) from Macquarie
In a report released today, from Macquarie upgraded Genesis Minerals Limited (GMD – Research Report) to a Buy, with a price target of A$5.10. The company's shares opened today at A$4.55. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter In addition to Macquarie, Genesis Minerals Limited also received a Buy from Canaccord Genuity's Tim McCormack in a report issued on May 26. However, on May 27, MA Financial Group maintained a Hold rating on Genesis Minerals Limited (ASX: GMD). The company has a one-year high of A$4.59 and a one-year low of A$1.68. Currently, Genesis Minerals Limited has an average volume of 5.31M.
