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- News.com.au
Gold Digger: Platinum spins new 11-year record
Platinum prices have hit an 11-year high BMO sees the precious metal running to US$1500/oz by the end of 2025 A number of ASX stocks have been rising in recent weeks, with Chalice up ~10% on Friday Gold has been top dog among the precious metals for the past year, seizing new record highs en masse thanks to global political instability, rising debt levels, central bank demand and a shifty US dollar. Now other precious metals are playing catch-up. Silver cracked a long-term resistance level at US$35/oz earlier in June and is now up around US$36.40/oz, double prices seen in early 2022. But another downtrodden investment focused metal is now at 11-year highs, with platinum surging to as much as US$1422/oz on Thursday. "Contracting supply in South Africa and tightness in the spot market are raising prices," ANZ Research says. "Palladium also rallied, breaking above USD1100/oz." Yesterday's move in platinum clocked in at close to 5%, with palladium prices surging over 6.5%. The latter is a long, long way off US$3400/oz highs seen after major producer Russia's invasion of Ukraine – sanctions failed to lead to a cessation of supply from the belligerent nation to the West. But it's a handy bump, reflecting the fact the platinum group metals market is in a structural deficit and that investment demand is surging – especially in China – as investors look for an option that isn't as pricy as gold. The World Platinum Investment Council in its March update projected the platinum deficit would be 115,000oz higher than previously thought at 966,000oz, even with falling automotive demand (PGMs are used in auto catalysts, which reduce emissions from petrol cars) expected to cause demand to fall 4% to 7.965Moz. Supply will drop 4% as well to 6.999Moz, with mined supply outside Russia falling sharply in the first quarter. Heavy rainfall saw South African output tumbled 10% YoY to 715,000oz, prompting overall platinum supply to drop 10% as well to 1.458Moz in the three months to March 31, 2025. If recycled supply is excised from that number, mined supply fell 13% YoY to 1.086Moz, the worst quarter since the Covid-affected June quarter of 2020. Will it keep going? Platinum and palladium are currently retracing a ratio against gold that has cratered in recent years. In early 2023, palladium was trading, virtually, on par with bullion. The Russian supply outlook was key there, but also (now delayed) hopes hydrogen electrolysers would become a disruptive source of demand for PGMs. At the time an ounce of platinum could get you 3/5ths of an ounce of gold. Now both trade below 40% of the gold price. BMO analysts in a note this week said they saw further upside for platinum in the second half of 2025. "After several years of deficits, the platinum market appears to finally be drawing on investor stockpiles to remain balanced, causing prices to break out,' BMO said. 'Looking forward, we see further upside for platinum in the second half of this year, given that the persistent deficit will require prices to rise to levels that incentivise investors to sell more stock.' BMO is tipping US$1500/oz platinum by the end of 2025. The Canadian bank has a US$3600/oz fourth quarter forecast for gold. ASX moves On the ASX, Future Metals (ASX:FME), the owner of the Panton project in northern WA, was up 5.3% on Friday. It owns the Panton project near Halls Creek, which contains a total resource of 92.9Mt at 2g/t palladium equivalent for 6Moz PdEq, but has also made a promising copper and nickel discovery at the nearby Eileen's Bore target. The firm has a deal with Zeta Resources, which mopped up the assets of failed nickel miner Panoramic Resources, to investigate the use of its Savannah plant to process ores from Eileen's Bore and Panton. The bellwether for PGMs on the ASX, Chalice Mining (ASX:CHN), surged close to 10% on Friday to $1.81, hitting a market cap of $700m. Once a $3bn explorer at the height of the battery metals boom, CHN is up 60% YTD as it progresses a PFS on the large but low grade Gonneville discovery at Julimar, around 70km north-east of Perth. Southern Palladium (ASX:SPD), which owns the Bengwenyama project in platinum rich South Africa and trades at a market cap of $63m, was unchanged on Friday but has risen 47.5% in the past month as platinum prices have charged. Producer Zimplats Holdings (ASX:ZIM), which boasts a $1.7bn market cap, is also up 23% in the past month, while early stage explorer Terra Metals (ASX:TM1), which has discovered a Bushveld style PGE, titanium, precious and base metals mineralised reef at Dante in WA's Musgrave Province, is up 53% in the past month. Terra has mineral resource consultants on-site this month. Its value proposition was highlighted by the surprise introduction of coal miners GEAR and M Resources, major investors in Stanmore Coal (ASX:SMR), to its register in a $4m placement in mid-June, extending their diversifying exposure to critical minerals. Winners and losers CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.008 -11% -27% 0% -11% 14% $ 8,678,940.02 NPM Newpeak Metals 0.024 33% 71% 71% 20% 118% $ 6,441,434.62 MTC Metalstech Ltd 0.135 0% -4% 0% -39% -4% $ 27,133,811.38 GED Golden Deeps 0.021 -5% 17% -16% -36% -16% $ 3,542,514.02 G88 Golden Mile Res Ltd 0.011 -8% -21% 38% -8% 22% $ 5,986,726.41 LAT Latitude 66 Limited 0.024 -14% -37% -50% 1100% -37% $ 3,298,216.22 NMR Native Mineral Res 0.19 -7% 12% 387% 660% 387% $ 169,892,812.87 AQX Alice Queen Ltd 0.003 0% -40% -57% -54% -63% $ 3,748,920.20 SLZ Sultan Resources Ltd 0.006 20% 0% -14% -25% 0% $ 1,620,289.37 KSN Kingston Resources 0.14 8% 12% 92% 71% 97% $ 115,291,995.14 AMI Aurelia Metals Ltd 0.1975 -8% -32% 16% 4% 16% $ 330,051,664.80 GIB Gibb River Diamonds 0.027 -23% -21% -34% -36% -33% $ 5,362,736.13 KCN Kingsgate Consolid. 2.27 -1% 12% 77% 46% 77% $ 582,518,823.92 TMX Terrain Minerals 0.002 0% -33% -33% -33% -33% $ 5,063,628.55 BNR Bulletin Res Ltd 0.056 -10% -14% 44% 30% 44% $ 17,029,572.73 NXM Nexus Minerals Ltd 0.071 -7% -9% 54% 82% 58% $ 42,866,932.52 SKY SKY Metals Ltd 0.052 13% 6% 0% 63% -4% $ 35,535,158.30 LM8 Lunnonmetalslimited 0.23 0% 12% 10% 21% -8% $ 48,538,198.28 CST Castile Resources 0.056 2% -13% -30% -23% -30% $ 17,121,920.48 YRL Yandal Resources 0.09 -18% -31% -52% -31% -49% $ 27,831,148.38 FAU First Au Ltd 0.004 0% 33% 167% 60% 100% $ 7,251,976.47 ARL Ardea Resources Ltd 0.4 3% -2% 29% -16% 21% $ 83,113,101.43 GWR GWR Group Ltd 0.091 0% -5% 14% 6% 14% $ 29,448,205.61 IVR Investigator Res Ltd 0.023 -26% 5% 21% -50% 15% $ 41,585,109.86 GTR Gti Energy Ltd 0.003 -25% -25% 0% -40% -14% $ 8,996,848.99 IPT Impact Minerals 0.006 0% 20% -39% -58% -36% $ 23,731,979.81 BNZ Benzmining 0.45 5% 11% 34% 260% 30% $ 71,194,677.38 MOH Moho Resources 0.004 33% -20% 0% 0% -20% $ 2,981,656.11 BCM Brazilian Critical 0.011 0% 10% 16% -35% 22% $ 14,415,865.59 PUA Peak Minerals Ltd 0.027 23% 42% 248% 1020% 248% $ 72,990,353.54 MRZ Mont Royal Resources 0.041 0% 0% -5% -33% -5% $ 3,486,221.51 SMS Starmineralslimited 0.025 32% 0% -32% -8% -31% $ 4,459,359.67 MVL Marvel Gold Limited 0.0125 -11% -11% 39% 56% 39% $ 16,717,988.44 PRX Prodigy Gold NL 0.002 0% 0% 0% 12% 0% $ 6,350,111.10 AAU Antilles Gold Ltd 0.005 11% 67% 25% 25% 67% $ 11,895,340.08 CWX Carawine Resources 0.096 1% 0% -4% 7% -4% $ 22,668,043.10 RND Rand Mining Ltd 1.81 -14% -6% 19% 20% 19% $ 101,239,210.58 CAZ Cazaly Resources 0.018 -10% 13% 38% 0% 29% $ 7,842,150.85 BMR Ballymore Resources 0.155 -14% 0% 24% -3% 29% $ 27,393,240.68 DRE Dreadnought Resources Ltd 0.009 -25% -31% -18% -55% -25% $ 50,795,000.00 ZNC Zenith Minerals Ltd 0.037 3% -16% -14% -26% -8% $ 15,648,351.36 REZ Resourc & En Grp Ltd 0.016 -20% 0% -33% 45% -30% $ 12,089,504.20 LEX Lefroy Exploration 0.11 10% 38% 57% 10% 57% $ 24,842,013.80 ERM Emmerson Resources 0.125 -4% -4% 69% 136% 62% $ 79,452,359.88 AM7 Arcadia Minerals 0.017 6% -11% -11% -54% -11% $ 1,878,134.93 ADT Adriatic Metals 5.5 1% 10% 39% 38% 41% $ 1,683,810,176.55 AS1 Asara Resources Ltd 0.049 -8% -6% 172% 390% 158% $ 53,957,714.55 CYL Catalyst Metals 5.17 -10% -19% 102% 370% 100% $ 1,331,931,218.31 CHN Chalice Mining Ltd 1.7975 11% 45% 64% 34% 63% $ 639,949,066.26 KAL Kalgoorliegoldmining 0.038 -5% 3% 100% 31% 111% $ 15,639,949.26 MLS Metals Australia 0.018 6% -5% -18% -5% -22% $ 13,116,951.43 ADN Andromeda Metals Ltd 0.012 0% 9% 71% -25% 71% $ 45,760,116.89 MEI Meteoric Resources 0.1175 -2% 12% 37% -24% 38% $ 257,054,906.02 SRN Surefire Rescs NL 0.002 0% -4% -20% -70% -32% $ 4,972,890.78 WA8 Warriedarresourltd 0.115 -4% 0% 167% 102% 161% $ 140,718,297.48 HMX Hammer Metals Ltd 0.029 -9% -15% -9% -15% -12% $ 25,745,002.30 WCN White Cliff Min Ltd 0.023 15% -18% 35% 53% 44% $ 53,094,495.21 AVM Advance Metals Ltd 0.049 7% 17% 44% 96% 44% $ 12,456,637.20 ASR Asra Minerals Ltd 0.002 0% 0% -33% -50% -33% $ 5,987,547.01 ARI Arika Resources 0.036 3% 0% 33% 80% 33% $ 25,834,476.95 CTO Citigold Corp Ltd 0.003 0% -25% -25% -25% -25% $ 9,000,000.00 SMI Santana Minerals Ltd 0.535 -4% -3% 19% 57% 10% $ 390,268,084.50 M2R Miramar 0.003 -14% 0% -40% -63% 0% $ 3,488,881.50 MHC Manhattan Corp Ltd 0.021 5% -13% 0% -16% 11% $ 4,697,977.96 GRL Godolphin Resources 0.009 0% 0% -36% -53% -38% $ 4,039,859.81 SVG Savannah Goldfields 0.018 0% -10% -2% 37% -2% $ 20,548,386.70 EMC Everest Metals Corp 0.135 -10% -7% 0% 13% 0% $ 30,257,719.43 GUL Gullewa Limited 0.0725 -12% 4% 29% 2% 29% $ 15,261,552.04 CY5 Cygnus Metals Ltd 0.085 -10% 15% -11% 98% -15% $ 74,048,455.38 G50 G50Corp Ltd 0.145 21% 16% -3% -12% -6% $ 22,483,672.26 ADV Ardiden Ltd 0.145 0% -6% 4% 12% 7% $ 8,752,450.84 AAR Astral Resources NL 0.17 -8% -3% 13% 93% 26% $ 241,062,928.93 VMC Venus Metals Cor Ltd 0.1 -9% -17% 59% 43% 49% $ 20,593,511.72 NAE New Age Exploration 0.003 0% -25% -25% 0% -14% $ 8,117,734.22 VKA Viking Mines Ltd 0.006 0% -14% -25% -25% -25% $ 8,063,692.49 LCL LCL Resources Ltd 0.006 -14% -14% -33% -33% -40% $ 5,996,285.76 MTH Mithril Silver Gold 0.49 4% 34% 27% 165% 23% $ 72,199,720.89 ADG Adelong Gold Limited 0.0045 0% -44% 13% -25% 0% $ 9,309,045.03 RMX Red Mount Min Ltd 0.0105 31% 17% 5% 5% 17% $ 4,184,620.16 PRS Prospech Limited 0.015 -17% -40% -48% -46% -48% $ 5,682,388.31 TTM Titan Minerals 0.33 -11% -14% 0% -21% -13% $ 88,639,940.04 AKA Aureka Limited 0.12 -8% -8% -14% -99% -11% $ 15,126,033.72 AAM Aumegametals 0.03 -3% -12% -29% -48% -29% $ 18,123,391.26 KZR Kalamazoo Resources 0.092 6% 8% 12% 15% 24% $ 19,745,416.53 BCN Beacon Minerals 0.027 -10% -4% 23% 4% 23% $ 118,339,072.85 MAU Magnetic Resources 1.5225 -5% -9% 38% 48% 38% $ 407,880,264.08 BC8 Black Cat Syndicate 0.77 -9% -8% 33% 157% 36% $ 537,701,883.28 EM2 Eagle Mountain 0.006 0% 20% -19% -86% -33% $ 6,810,223.73 EMR Emerald Res NL 3.89 -15% -15% 18% 16% 20% $ 2,649,392,194.54 BYH Bryah Resources Ltd 0.012 -8% 140% 300% 100% 300% $ 10,439,442.26 HCH Hot Chili Ltd 0.645 19% 26% -4% -31% -8% $ 86,409,804.93 WAF West African Res Ltd 2.21 1% -18% 53% 42% 54% $ 2,507,840,519.80 MEU Marmota Limited 0.038 -3% -12% 0% -17% -3% $ 47,132,231.60 NVA Nova Minerals Ltd 0.32 -7% 3% -9% 68% -14% $ 103,359,173.44 SVL Silver Mines Limited 0.115 -4% 16% 44% -26% 47% $ 204,674,170.08 PGD Peregrine Gold 0.16 -3% 14% 45% -18% 14% $ 13,151,399.86 ICL Iceni Gold 0.056 -7% -11% -14% -14% -21% $ 19,224,877.67 FG1 Flynngold 0.027 -18% 8% 0% 8% 8% $ 11,739,494.10 WWI West Wits Mining Ltd 0.021 5% -28% 50% 75% 50% $ 68,645,357.36 RML Resolution Minerals 0.052 16% 300% 271% 225% 333% $ 34,222,579.92 AAJ Aruma Resources Ltd 0.0085 -15% -15% -23% -29% -29% $ 3,115,434.99 HWK Hawk Resources. 0.015 0% -21% -25% -44% -32% $ 4,063,941.74 GMN Gold Mountain Ltd 0.002 33% 0% -33% -33% -33% $ 5,619,759.25 MEG Megado Minerals Ltd 0.017 42% 21% 13% 123% 0% $ 10,313,615.45 HMG Hamelingoldlimited 0.064 -23% -9% 2% -9% 0% $ 12,691,428.54 BM8 Battery Age Minerals 0.055 0% 4% -45% -58% -48% $ 7,069,725.73 TBR Tribune Res Ltd 4.76 -5% -3% 11% 42% 11% $ 245,025,919.59 FML Focus Minerals Ltd 0.355 -3% -15% 115% 145% 109% $ 101,728,318.98 VRC Volt Resources Ltd 0.0035 -13% -13% 17% -13% 17% $ 14,054,333.95 ARV Artemis Resources 0.006 0% -14% -29% -50% -25% $ 15,214,032.99 HRN Horizon Gold Ltd 0.56 1% 14% 26% 96% 17% $ 81,110,356.88 CLA Celsius Resource Ltd 0.007 0% 0% -36% -46% -36% $ 21,948,419.16 QML Qmines Limited 0.044 5% 29% -15% -19% -19% $ 18,998,309.53 RDN Raiden Resources Ltd 0.004 -20% -43% -64% -88% -64% $ 13,803,565.77 TCG Turaco Gold Limited 0.46 -4% 2% 70% 149% 80% $ 478,206,192.80 KCC Kincora Copper 0.039 -3% 18% 44% -19% 44% $ 9,183,684.43 GBZ GBM Rsources Ltd 0.0135 125% 93% 93% 50% 69% $ 15,223,909.71 DTM Dart Mining NL 0.003 0% 0% -67% -84% -67% $ 3,594,166.73 MKR Manuka Resources. 0.04 8% 5% 43% 8% 43% $ 34,176,274.43 AUC Ausgold Limited 0.77 8% 24% 88% 120% 83% $ 269,873,342.68 ANX Anax Metals Ltd 0.005 -29% -38% -55% -80% -58% $ 3,531,230.27 EMU EMU NL 0.019 -5% 0% -27% -32% -30% $ 4,224,969.36 SFM Santa Fe Minerals 0.031 -23% -23% 7% -16% 0% $ 2,257,382.46 PNR Pantoro Gold Limited 3.06 -3% -13% 98% 98% 100% $ 1,190,223,186.99 CMM Capricorn Metals 9.72 -5% 4% 52% 108% 55% $ 4,280,629,077.03 VRL Verity Resources 0.021 -16% -30% 3% -46% 8% $ 5,588,469.36 HAW Hawthorn Resources 0.055 4% 10% 34% -7% 34% $ 18,425,858.72 BGD Bartongoldholdings 0.8 -11% 19% 227% 191% 227% $ 176,336,215.21 SVY Stavely Minerals Ltd 0.01 -17% -17% -38% -66% -41% $ 5,440,420.93 AGC AGC Ltd 0.145 -6% -3% -9% -50% -6% $ 37,206,597.19 RGL Riversgold 0.004 0% 0% 33% -20% 0% $ 5,892,994.08 TSO Tesoro Gold Ltd 0.0285 24% 6% 43% 2% 43% $ 54,396,473.59 GUE Global Uranium 0.064 -3% -6% 2% -21% 7% $ 28,649,544.40 CPM Coopermetalslimited 0.036 0% 0% -10% -49% -22% $ 2,742,447.75 MM8 Medallion Metals. 0.25 2% -9% 127% 346% 108% $ 127,161,422.50 FFM Firefly Metals Ltd 1.04 0% 2% 15% 45% 12% $ 646,284,444.50 CBY Canterbury Resources 0.028 -3% 27% 17% -33% 27% $ 5,808,345.09 SLA Solara Minerals 0.185 6% 48% 113% -20% 106% $ 10,147,344.03 SFR Sandfire Resources 11.35 0% 3% 19% 29% 22% $ 5,040,609,022.80 TAM Tanami Gold NL 0.058 18% 29% 93% 87% 93% $ 64,630,337.53 NWM Norwest Minerals 0.012 0% 20% -12% -52% 0% $ 11,620,302.74 ALK Alkane Resources Ltd 0.725 0% -4% 44% 41% 42% $ 439,017,871.70 BMO Bastion Minerals 0.002 27% 155% -36% -58% -36% $ 1,807,255.13 IDA Indiana Resources 0.0845 10% 8% 39% 94% 39% $ 53,346,794.01 GSM Golden State Mining 0.008 14% -11% -11% -20% 0% $ 2,514,335.67 NSM Northstaw 0.033 3% 8% 96% 172% 109% $ 9,824,314.72 GSN Great Southern 0.027 13% 23% 86% 59% 80% $ 24,920,107.25 VAU Vault Minerals Ltd 0.41 0% -12% 28% 11% 24% $ 2,755,001,719.71 THR Thor Energy PLC 0.011 10% 0% -15% -27% -15% $ 6,397,108.52 CDR Codrus Minerals Ltd 0.031 -21% -14% 63% -23% 82% $ 6,408,765.75 MDI Middle Island Res 0.023 5% 28% 77% 64% 92% $ 6,451,147.36 WTM Waratah Minerals Ltd 0.285 14% -12% 90% 159% 84% $ 72,388,802.46 POL Polymetals Resources 0.81 -1% -2% 1% 218% 2% $ 205,477,533.53 RDS Redstone Resources 0.003 0% -57% 20% -25% 20% $ 3,102,802.07 NAG Nagambie Resources 0.015 -12% 0% -12% 50% -17% $ 12,852,837.50 BGL Bellevue Gold Ltd 0.9075 -4% -3% -19% -47% -19% $ 1,284,403,713.09 GBR Greatbould Resources 0.064 -12% -9% 52% 10% 49% $ 47,167,910.93 KAI Kairos Minerals Ltd 0.032 10% 14% 167% 256% 167% $ 81,558,277.86 KAU Kaiser Reef 0.17 0% -6% 3% 10% 6% $ 100,902,845.50 HRZ Horizon 0.0515 3% 10% 32% 61% 29% $ 125,768,182.39 CDT Castle Minerals 0.075 -10% -23% 0% -29% 25% $ 8,236,679.47 RSG Resolute Mining 0.6375 5% 0% 63% 24% 61% $ 1,351,946,758.26 EVN Evolution Mining Ltd 7.56 -3% -17% 56% 123% 57% $ 15,097,934,010.64 CXU Cauldron Energy Ltd 0.007 -30% -20% -45% -69% -40% $ 14,329,288.06 DLI Delta Lithium 0.165 -6% -11% 0% -25% -3% $ 121,812,104.64 ALY Alchemy Resource Ltd 0.005 0% -17% -29% -17% -29% $ 5,890,381.28 NH3 Nh3Cleanenergyltd 0.033 10% 38% 83% 200% 83% $ 18,631,957.91 OBM Ora Banda Mining Ltd 0.775 -17% -26% 18% 125% 19% $ 1,497,586,628.18 AVW Avira Resources Ltd 0.007 0% 0% -65% -65% -65% $ 1,610,000.00 LCY Legacy Iron Ore 0.009 0% 0% 0% -28% -10% $ 87,858,383.26 PDI Predictive Disc Ltd 0.38 -4% -13% 62% 124% 65% $ 995,765,940.68 MAT Matsa Resources 0.066 10% 2% 110% 164% 89% $ 47,674,924.25 ZAG Zuleika Gold Ltd 0.014 -22% 17% 8% -13% 8% $ 11,128,198.91 GML Gateway Mining 0.027 -7% -16% 29% 17% 29% $ 11,038,147.97 SBM St Barbara Limited 0.285 -10% -8% 43% 46% 27% $ 314,025,438.89 SBR Sabre Resources 0.008 -11% -11% -20% -50% -20% $ 3,155,695.46 STK Strickland Metals 0.14 4% 17% 75% 33% 65% $ 316,730,371.58 CEL Challenger Gold Ltd 0.083 -3% -2% 89% 51% 77% $ 169,371,753.50 GG8 Gorilla Gold Mines 0.41 -8% -20% 71% 1357% 58% $ 254,311,871.54 NST Northern Star 18.24 -11% -13% 19% 41% 18% $ 26,913,855,605.16 OZM Ozaurum Resources 0.064 -3% -26% 146% 21% 113% $ 14,433,418.00 TG1 Techgen Metals Ltd 0.023 -8% -12% -30% -18% -34% $ 3,807,977.04 XAM Xanadu Mines Ltd 0.0795 2% -1% 66% 42% 62% $ 183,296,895.12 AQI Alicanto Min Ltd 0.026 -7% -7% -32% 24% -30% $ 22,051,717.38 KTA Krakatoa Resources 0.012 9% 9% 33% -14% 26% $ 6,821,474.28 ARN Aldoro Resources 0.32 2% 3% 7% 338% -16% $ 58,617,327.68 WGX Westgold Resources. 2.88 -3% -2% 1% 15% 2% $ 2,753,880,294.80 MBK Metal Bank Ltd 0.012 9% 9% -14% -45% -20% $ 5,969,507.98 A8G Australasian Metals 0.064 -4% -17% -18% -15% -19% $ 3,820,721.85 TAR Taruga Minerals 0.008 -11% 0% -20% 14% -20% $ 5,710,032.46 DTR Dateline Resources 0.087 10% 58% 2800% 924% 2386% $ 262,290,264.53 GOR Gold Road Res Ltd 3.26 -3% -3% 61% 99% 59% $ 3,563,388,916.80 S2R S2 Resources 0.07 3% -25% 8% -23% 4% $ 33,030,791.09 NES Nelson Resources. 0.0025 -17% -17% -17% -17% -17% $ 5,429,819.15 TLM Talisman Mining 0.145 12% -3% -33% -43% -29% $ 27,306,450.61 BEZ Besragoldinc 0.049 -9% 23% -38% -51% -46% $ 20,359,351.29 PRU Perseus Mining Ltd 3.365 -5% -11% 32% 43% 31% $ 4,590,686,495.44 SPQ Superior Resources 0.004 14% 0% -33% -42% -33% $ 11,854,913.63 PUR Pursuit Minerals 0.038 3% -5% -62% -75% -60% $ 3,789,890.59 RMS Ramelius Resources 2.5 -4% -12% 18% 34% 21% $ 2,955,313,340.40 PKO Peako Limited 0.001 -67% -67% -67% -68% -67% $ 2,975,483.92 ICG Inca Minerals Ltd 0.008 -11% 60% 60% 14% 60% $ 12,611,120.50 A1G African Gold Ltd. 0.195 22% 44% 282% 713% 255% $ 102,643,704.54 NMG New Murchison Gold 0.0195 8% 30% 95% 290% 117% $ 177,315,301.93 GNM Great Northern 0.014 0% -13% 0% 17% 0% $ 2,164,807.08 KRM Kingsrose Mining Ltd 0.0305 -5% -5% -8% -24% -13% $ 23,359,322.09 BTR Brightstar Resources 0.495 -3% -24% -1% 16% -1% $ 231,562,961.28 RRL Regis Resources 4.38 -5% -12% 69% 152% 72% $ 3,392,095,025.66 M24 Mamba Exploration 0.013 -7% -19% 8% -13% 8% $ 3,837,152.93 TRM Truscott Mining Corp 0.049 -2% -25% -37% -18% -37% $ 9,380,979.44 TNC True North Copper 0.415 19% 46% -86% -92% -86% $ 45,220,889.74 MOM Moab Minerals Ltd 0.001 0% 0% -67% -67% -50% $ 1,733,666.03 KNB Koonenberrygold 0.032 -14% -54% 146% 113% 167% $ 32,790,159.33 AWJ Auric Mining 0.165 -6% -20% -50% -6% -51% $ 30,686,881.83 ENR Encounter Resources 0.235 -2% -2% -29% -58% -28% $ 109,734,310.18 SNG Siren Gold 0.047 -6% -2% -27% -48% -28% $ 10,510,589.23 STN Saturn Metals 0.365 7% 16% 66% 87% 78% $ 174,670,884.36 USL Unico Silver Limited 0.275 -2% 15% 45% 83% 41% $ 116,055,095.08 PNM Pacific Nickel Mines 0.024 0% 0% 0% -20% 0% $ 10,103,834.52 AYM Australia United Min 0.003 0% 50% -25% 50% -25% $ 5,527,732.46 HAV Havilah Resources 0.17 -8% -6% -23% -11% -24% $ 59,369,851.80 SPR Spartan Resources 1.9725 -2% -10% 51% 119% 40% $ 2,556,723,338.09 PNT Panthermetalsltd 0.015 7% 0% 25% -18% 36% $ 3,911,759.12 MEK Meeka Metals Limited 0.14 -7% -7% 87% 324% 82% $ 422,777,249.65 GMD Genesis Minerals 4.34 -4% -2% 72% 148% 76% $ 4,917,013,365.00 PGO Pacgold 0.062 -5% -15% -15% -46% -17% $ 9,481,599.74 FEG Far East Gold 0.16 3% 10% -9% 60% -11% $ 56,889,255.22 MI6 Minerals260Limited 0.1175 -2% -24% -6% -16% -10% $ 248,079,999.96 IGO IGO Limited 4.16 3% -2% -14% -30% -13% $ 3,036,643,930.13 GAL Galileo Mining Ltd 0.125 19% 0% 9% -39% 0% $ 21,738,741.97 RXL Rox Resources 0.285 -3% -5% 50% 119% 43% $ 208,835,226.30 PTN Patronus Resources 0.066 -6% 14% 32% 18% 35% $ 111,343,050.67 CLZ Classic Min Ltd 0.001 0% 0% 0% 0% 0% $ 3,017,699.21 TGM Theta Gold Mines Ltd 0.135 0% 8% -27% -13% -25% $ 114,325,721.38 FAL Falconmetalsltd 0.135 -10% 13% 17% -47% 17% $ 21,240,000.00 SPD Southernpalladium 0.61 -2% 49% 2% 58% 2% $ 63,100,500.00 ORN Orion Minerals Ltd 0.01 -9% -17% -29% -33% -33% $ 68,504,478.18 TMB Tambourahmetals 0.02 -9% -17% -13% -61% -5% $ 3,235,981.01 TMS Tennant Minerals Ltd 0.006 0% -14% -37% -71% -33% $ 5,862,397.28 AZY Antipa Minerals Ltd 0.675 -10% 9% 160% 543% 160% $ 399,884,594.79 PXX Polarx Limited 0.007 -7% 0% 17% -46% 8% $ 16,628,506.85 TRE Toubani Res Ltd 0.285 -2% -5% 78% 54% 68% $ 74,618,436.37 AUN Aurumin 0.1 4% 27% 54% 194% 52% $ 49,426,014.40 GPR Geopacific Resources 0.025 9% 39% 25% 29% 25% $ 79,561,633.15 FXG Felix Gold Limited 0.14 -3% 4% 75% 250% 67% $ 57,574,552.14 ILT Iltani Resources Lim 0.235 -4% 4% 15% -24% 15% $ 11,867,640.30 BRX Belararoxlimited 0.058 -2% -38% -63% -69% -67% $ 9,151,168.66 TM1 Terra Metals Limited 0.046 -2% 64% 109% -34% 64% $ 21,505,363.47 TOR Torque Met 0.155 24% 24% 198% 7% 192% $ 81,619,457.79 ARD Argent Minerals 0.021 -5% 0% 24% 50% 24% $ 30,368,950.08 LM1 Leeuwin Metals Ltd 0.135 8% 8% 13% 193% -4% $ 13,104,829.92 SX2 Southgold Consol 7.285 -9% 24% 0% 0% 0% $ 1,030,751,120.80 UVA Uvrelimited 0.099 10% 3% 16% 9% 11% $ 5,177,200.09 VTX Vertexmin 0.27 -4% 15% 46% 238% 30% $ 52,444,081.82 LNQ Linqmineralslimited 0.19 0% 0% 0% 0% 0% $ 12,370,000.20 GBM Resources (ASX:GBZ) GBM shares soared over the past week after a major reshuffle including a $13m raising, which will see well known mining identity Ian Middlemas become chairman and a major shareholder with a $1.2m contribution to the raise, which will be used to repay and cancel a $6.2m collection of convertible notes held by Collins St Asset Management. The company will also cancel a farm-in agreement that will give it full ownership of the Twin Hills project, with privately owned Wise Walkers instead taking a 19.99% stake by converting the Twin Hills equity and putting $2m into the placement, which will consolidate a 1.84Moz resource base at Twin Hills and Yandan in Queensland's Drummond Basin. The changes will be rung in at the executive level as well. Peter Rohner is stepping aside as MD and will stay on as CEO until the end of July, with Sunny Loh stepping back from chair to non-executive director. Andrew Krelle will remain exec director, while Robert Behets and Peter Fox will round out the junior's board as NEDs. Over $5m from the placement will be committed to exploration across Yandan and Twin Hills, including $3m for drilling at Twin Hills' Lone Sister and 309 deposits. "With a strong debt-free balance sheet, GBM now has a great opportunity to deliver value to shareholders through an accelerated exploration program across Twin Hills and Yandan," Krelle said in a statement. "GBM's exploration plan for the next 12 months is designed to expand the significant gold resource base at Twin Hills and Yandan by systematically exploring for epithermal gold mineralisation across GBM's Drummond Basin projects.' Megado Minerals (ASX:MEG) Megado shares have been running hot this week on little more than a couple of substantial shareholder notices, one of them confirming the substantial shareholder status of chairman Anthony Hall. But there is a bit of fresh blood through the company in the form of a new flagship prokject, the Iberian Copper project located across the Aragon and Navarra provinces of Spain. The region hosts shallow copper oxide mining up to the 1970s, with 12 historic mines identified across a snaking set of permits covering 956km2 over a 200km east to west geological strike. The presence of more than 30 historic mines with significant copper and silver potential should keep Megado busy as it diversifies its portfolio from a slew of gold and lithium prospects in Canada's James Bay region. Star Minerals (ASX:SMS) Also shy of a bit of news this week, $4m capped Star is nonetheless moving forward with studies to mine its small Tumblegum South project in the Murchison. Drilling was poised to start this month under a drill for equity deal with Impact Drilling to test extensional targets and infill drilling within a $3800/oz pit boundary at Tumblegum South. A recent scoping study suggested the project could be brought to life with just $700,000-1.5m in upfront capital costs, generating $9.4-19.6m in cash surplus on the production of 11,800-15,900oz of gold. That could start as soon as early 2026, with an MoU already signed for development and mining with contractor MEGA Resources. Tumblegum South contains an indicated and inferred resource of 616,000t at 2.28g/t for 45,000oz of gold.
Bloomberg
2 days ago
- Business
- Bloomberg
Gold Heads for Weekly Loss as Middle East Truce Saps Demand
Gold headed for its second consecutive weekly loss, after a ceasefire between Israel and Iran dented demand for havens. Bullion edged lower early in Asia to around $3,315 an ounce and was down about 1.5% for the week. The precious metal has generally been confined to a narrow trading band this week, except for Tuesday when it slumped as the Middle East rivals honored a ceasefire agreement after almost two weeks of warfare.
Yahoo
2 days ago
- Business
- Yahoo
Palladium Rallies- How High Can the Precious Metal Rise?
I examined why palladium was struggling at the $1,000 per ounce level in a March 6 Barchart article when I concluded: Palladium remains inexpensive compared to gold and silver at below the $1,000 per ounce level. Accumulating palladium at the current price and lower could be optimal, as the odds favor higher prices over the coming months and years. Dollar Pressured by Dovish Fed Comments Gold and the Dollar Tumble on Tentative Israel-Iran Ceasefire Palladium Rallies- How High Can the Precious Metal Rise? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! On March 5, 2025, nearby NYMEX palladium futures were at the $949.50 per ounce level, with the Aberdeen Physical Palladium ETF product (PALL) at $86.28 per share. In late June 2025, the futures and ETF were higher, and the recent price action suggests that higher highs could be on the horizon. NYMEX palladium for September delivery reached a $883.50 per ounce low on April 7 as U.S. tariffs gripped markets across all asset classes. The daily chart highlights palladium's 25.5% ascent to a high of $1,109 on June 9. Palladium futures for delivery in September 2025 remained above the $1,000 pivot point and closer to the June 9 high than the April 7 low in late June at nearly $1,090 per ounce. The longer-term palladium futures chart indicates the precious metal's current upside target. Platinum and palladium are industrial precious metals with many applications. Their high melting and boiling points make them critical ingredients in the automobile, oil, and petrochemical refining industries, as well as in medical and other fields. As precious metals, they also have jewelry and ornamental applications, serving as long-term stores of value. While gold and silver are highly liquid precious metals and in significant bullish trends, platinum and palladium suffer from less liquidity in the futures and physical markets. Annual platinum and palladium production is significantly lower than that of gold and silver. Moreover, most of the platinum and palladium production comes from South Africa as primary production and Russia as a byproduct of nickel mining. While the price action in palladium has turned bullish, the critical technical resistance level of $1,255 remains $146 above the most recent high of $1,109 per ounce. The monthly continuous NYMEX platinum futures chart shows that, after trading around the $1,000 pivot point (like palladium) for years, platinum futures have surged, rising 53% from $878.30 in April 2025 to their most recent high of $1,343.40 in June 2025. Platinum futures were not far below the critical long-term technical resistance level, at the February 2021 high of $1,348.20. At above $1,290 per ounce in late June 2025, platinum futures remain closer to the June high than the April low and are in a bullish trend. A break above the 2021 peak could lead to platinum prices rising toward a challenge of the all-time high of $2,308.80 set in March 2008. Platinum's bullish price action could lead to buying in palladium over the coming weeks and months, as the two platinum group metals share similar supply and demand fundamentals. The weekly chart of NYMEX palladium futures zones in on the technical levels that will either cause them to continue to make upside progress or return below the $1,000 pivot point. The weekly continuous contract chart shows the first support level at $1,015.50, the high of May 26. Resistance is at the most recent June high of $1,109 per ounce. The bullish case for palladium includes the following: Gold and silver have been on a bullish tear in 2025. As prices reach new record highs in gold and new multi-year peaks in silver, investors and traders seeking value could be turning to platinum and palladium. Russia and South Africa are the leading producers of palladium. Geopolitical turmoil, tariffs, and trade barriers could lead to sudden disruptions in the supply chain. Palladium and platinum are rarer metals than gold and silver, with less annual output and limited above-ground inventories. Palladium's open interest, the total number of open long and short positions in the NYMEX futures market, is the lowest of the four metals in contracts and total market value. Less liquid markets tend to experience higher price volatility as herds of buyers or sellers can cause substantial price moves. We witnessed palladium's 2022 rally, which took the price to $3,425, driven by supply concerns following Russia's invasion of Ukraine. U.S. energy policy, which favors fossil fuels, is likely to increase palladium demand for automobile catalytic converters and oil refining catalysts. Palladium's trend has turned higher. If the futures continue to make higher lows and higher highs, the bullish trend is likely to continue, attracting investment capital to the metal as it remains at under one-third the price as the 2022 high. The bottom line is that, compared to gold and silver, and most recently platinum, palladium offers value at the current price level. The most direct route for investing in or taking a risk position in palladium is the physical market for bars and coins. The NYMEX futures market provides an alternative, as it features a physical delivery mechanism; however, the low liquidity compared to the other precious metals makes palladium futures challenging. Moreover, without a liquid forward market, the exchange does not offer palladium option contracts. The fund summary for the Aberdeen Physical Palladium ETF product (PALL) states: At $98.39 per share, PALL had over $474.9 million in assets under management and trades an average of over 276,000 shares daily. PALL charges a 0.60% management fee. The palladium ETF is more liquid than the NYMEX futures market, making it an excellent option for investors. Moreover, PALL does an excellent job tracking palladium futures prices. During the most recent rally, nearby palladium futures rose 25.5% from the April 7 to the June 9 high. As the daily chart shows, PALL rose 20.1% from the April 7 low of $82.39 to the June 11 high of $98.96 per share. One drawback of the ETF is that palladium futures trade around the clock; PALL is only available during U.S. stock market hours and may miss highs or lows that occur outside of these hours. Given the price action in gold, silver, and platinum, palladium could be in the early days of a rally that could take prices substantially higher. PALL could be a bargain at a price below the $100 per share in late June 2025. On the date of publication, Andrew Hecht did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
3 days ago
- Business
- Globe and Mail
Silver Finally Confirms Platinum's Take
Another day, another bearish confirmation. And I don't even mean (not one but) two breakdown in silver that we see in today's pre-market trading. Yes, this is bearish. Even if silver moves back up in a way later, the fact that silver moved below the support lines based on the intraday price extremes is already notable. Actually, a move back up (perhaps to the rising support line) before the slide continues wouldn't be surprising at all. Yes, it is in perfect tune with the signals coming from the platinum. And yes, it is particularly bearish given what's happening in the USD Index. But before I move to that, let's take a look at gold. It broke down below its rising support line and continued to decline since that time. Right now, gold is below its late-May high, and with just a little more weakness, June will become a down month for gold. While gold's and silver's breakdowns are important on their own, what makes them truly remarkable is that they both happened while the USD declined. The USD Index corrected a bit today, which is quite normal as it encountered a strong, medium-term resistance. While I fully expect this resistance line to be broken given the significance of the recent buy signals (invalidations of breakdowns + the super-strong long-term support from which the USDX rallied), seeing a pullback right now is simply natural. What is not natural is that both precious metals declined despite that. Think about it: if gold failed to rally despite dramatic increase in tensions in the Middle East and a new military conflict in general AND despite the decline in the USD Index… Then what could possibly drive its price higher here? Yes, there are some extreme cases like the financial system meltdown, introducing of a government-backed cryptocurrency that everyone would be forced to adopt instead of using anything else… But aside of those extreme cases, it looks like there's very little that can contribute to further rallies. I mean, I saw many situations where gold and the rest of the precious metals market was weak throughout 20 years of my precious metals market analysis, but this… This is exceptional. I wrote about how the platinum market confirms all this, and I'm going to add one more detail today: the price-volume link during the most recent price moves. Volume peaked when platinum reversed about a week ago. That was the first top. The second top formed on declining and much weaker volume. This is how it looks like when buying power is drying up. And now, when platinum is starting to decline, the volume is picking up again. Now, please consider the following: the platinum market is tiny market compared to gold and silver. So, if the investment public entered the precious metals market, the impact was likely felt here in the most dramatic way. This is exactly what I think happened – and we saw the exact same thing at the 2008 top. This is extremely important (and quite exciting) to see that during the second top in platinum, the volume actually declined. This is like the first crack in the dam. Perhaps in one of the most investment-public-saturated markets, the wave of buying is ending – the buyers get tired. The buying frenzy is over. And as no new buyers are able to keep pushing the price higher, it can do only one thing – decline. To clarify, when there are no buyers or sellers, the price doesn't stay at the same level – it declines until buyers emerge. So, as it seems that those that enter the market in the final parts of the rally are not only in the market, but that all of them already entered… It tells us that the rally is indeed over. Not just in this market, but in the entire precious metals complex, and perhaps in many other markets. The 2008 top in platinum wasn't an isolated signal just for PMs, was it? If you have your gold as insurance and you're happy with your portfolio as it is, you might simply watch out for the trading long positions here (or consider hedging them). Also, speaking of one's portfolio, we recently published a brand new, interactive, Golden Meadow® Portfolio Calculator which might help to put things into perspective – I encourage you to check it out. Thank you for reading my today's analysis – I appreciate that you took the time to dig deeper and that you read the entire piece. If you'd like to get more (and extra details not available to 99% investors), I invite you to stay updated with our free analyses - sign up for our free gold newsletter now. Thank you. Przemyslaw K. Radomski, CFA Founder, Editor-in-chief
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Gold Prices Solid on Its Fundamentals
0950 GMT – Gold prices appear solid on fundamentals, Julius Baer's Carsten Menke say in a commentary. The gold market showed a remarkably negative reaction to the de-escalation of the Israel Iran conflict, with prices briefly dipping below US$3,300 an ounce, Menke says. 'Considering the conflict's limited impact on the market, a longer-lasting correction seems very unlikely,' he says. Menke adds that the fundamentals backdrop for gold remains favorable, although a short-term and market-mood-driven consolidation is possible. Gold is flat at US$3323.85 an ounce. ( 0729 GMT – Gold futures tick up, recovering some ground after a sharp selloff on Monday and Tuesday. Futures are up 0.3% at $3,342.50 a troy ounce, though they remain 1.9% lower on week. The precious metal slid earlier in the week on the news that Israel and Iran had agreed to a cease-fire, lowering safe-haven demand. Gold gave up all gains made since Israel first launched strikes on Iran's nuclear facilities in mid-June. While the yellow metal has gained around 26.5% year-to-date on central bank buying and trade uncertainty, the rally has stalled in recent months, MUFG analysts say in a note. Weak U.S. consumer confidence figures in June added to economic concerns and potentially paves the way for interest rate cuts, though Federal Reserve Chair Jerome Powell remains cautious, analysts write. (
