Who made the gains in April? The big movers were (checks notes) yep, gold stocks again

The big resources winners in April were looking for gold, copper and rare earths, with DY6 taking top spot for biggest monthly stock gain.

The gold price has smashed through US$3500/oz, nabbing top commodity for the month. Pic: Getty Images

• Top resources stocks for April included gold, copper, rare earths … and ... lithium explorers

• DY6 takes top spot for biggest monthly stock gain

• Jindalee Lithium nabs honourable mention

Despite hitting a bit of a speedbump last month, gold still shone as the commodity to be in during April. The precious metal briefly touched the sun at a record US$3500 an ounce before dropping back to under US$3300/oz post-month's end.

But there’s still room to soar, JPMorgan reckons gold could blast past US$4000/oz by mid-2026. It's pinning those hopes on rising recession risks, worsening US-China trade tensions and a global economy that’s starting to wobble under the weight of tariffs.

Goldman Sachs is also in the gold bull camp. The bank reckons US$3700 by year-end, and US$4000 by mid 2026.

Even with gold front and centre it was a critical minerals hopeful that took the cake in April. The biggest stock gainer among ASX resources companies was DY6 Metals (ASX:DY6), which rocketed 371% higher in April after a review of historical drill results identified high-grade gallium at the Tundulu project in Malawi.

The company struck broad intersections of up to 74m at 93.26 g/t gallium, as well as 1.56% total rare earth oxides, with grades peaking at 310.46 g/t gallium and 5.68% TREO over about a metre.

Gallium hits have been exciting investors since China announced export controls of the semiconductor metal. In fact it's the second straight win for the niche critical mineral, normally extracted as a by-product of alumina refining, with RareX (ASX:REE) taking the crown in March.

DY6 Metals also announced in April it was acquiring two highly prospective rutile and heavy mineral sands projects in Cameroon.

The top 50 ASX resources stocks for the month of April>>>

Security	Description	Last	%Mth	MktCap
DY6	DY6 Metals	0.165	371%	$8,317,787
JLL	Jindalee Lithium Ltd	0.565	176%	$30,172,658
NMR	Native Mineral Res	0.185	113%	$159,001,115
DTR	Dateline Resources	0.01	100%	$24,890,118
RDS	Redstone Resources	0.006	100%	$5,552,271
TKL	Traka Resources	0.002	100%	$4,251,580
SRL	Sunrise	0.525	94%	$53,234,224
ADN	Andromeda Metals Ltd	0.014	75%	$48,002,188
ASM	Ausstrat Materials	0.635	74%	$120,591,554
NTU	Northern Min Ltd	0.034	70%	$284,143,298
KNB	Koonenberry Gold	0.076	69%	$63,043,928
BNR	Bulletin Resources	0.07	67%	$19,965,706
ERL	Empire Resources	0.005	67%	$5,935,653
GUL	Gullewa Limited	0.077	60%	$16,351,663
FLG	Flagship Minerals	0.07	59%	$14,862,378
KCC	Kincora Copper	0.036	57%	$9,397,719
GHM	Golden Horse Mineral	0.41	52%	$45,661,457
MOM	Moab Minerals Ltd	0.0015	50%	$1,733,666
PSL	Paterson Resources	0.012	50%	$5,016,417
STM	Sunstone Metals Ltd	0.012	50%	$77,580,797
MEI	Meteoric Resources	0.105	50%	$245,370,592
RNU	Renascor Res Ltd	0.07	49%	$190,733,664
R8R	Regener8 Resources NL	0.12	48%	$3,900,300
SVG	Savannah Goldfields	0.025	47%	$18,263,918
WMG	Western Mines	0.145	45%	$12,649,468
FRS	Forrestania Rsources	0.039	44%	$10,235,724
MTM	MTM Critical Metals	0.23	44%	$110,082,702
MKR	Manuka Resources.	0.037	42%	$27,566,101
BGD	Barton Gold Holdings	0.014	40%	$37,423,647
NWM	Norwest Minerals	0.007	40%	$13,881,525
TM1	Terra Metals Limited	0.285	39%	$111,828,585
EL8	Elevate Uranium Ltd	0.093	39%	$22,572,185
OZM	Ozaurum Resources	0.054	38%	$73,704,255
EUR	European Lithium Ltd	0.125	37%	$5,779,343
PAT	Patriot Lithium	0.075	36%	$174,324,130
TMG	Trigg Minerals Ltd	0.083	36%	$135,019,174
CEL	Challenger Gold Ltd	1.7	36%	$60,748,503
GML	Gateway Mining	0.155	35%	$33,955,091
RVT	Richmond Vanadium	0.086	34%	$81,334,971
WA8	Warriedar Resources	0.13	34%	$15,913,506
DKM	Duketon Mining	0.067	34%	$24,985,847
ACS	Accent Resources NL	0.004	33%	$3,169,590
QXR	Qx Resources Limited	0.004	33%	$1,505,619
AQC	Auspaccoal Ltd	0.041	32%	$4,734,886
OMX	Orange Minerals	0.25	32%	$16,485,032
CVR	Cavalier Resources	0.025	32%	$6,472,750
DAL	Dalaroo Metals	1.42	31%	$280,554,834
INF	Infinity Lithium	0.175	30%	$8,594,194
AHK	Ark Mines Limited	0.035	30%	$25,032,161
SUH	Southern Hem Min	0.011	29%	$16,082,889

The largest share of companies in the Top 50 came from the gold sector, with over 40% of the stocks on the list making the yellow metal their primary focus, including bolters like Dateline Resources (ASX:DTR) and Native Mineral Resources (ASX:NMR).

But a number of other stocks had interesting stories to tell in April, including even a US lithium player.

Small cap standouts

Jindalee Lithium (ASX:JLL)

The company was bolstered last month by the initiatives of the US government to boost domestic production of critical minerals.

Progress is being made at the 100%-owned McDermitt lithium project straddling the Oregon and Nevada border in the US as outlined in a recent quarterly report.

Plus, subsequent to the end of the quarter, McDermitt was named as one of 10 mining projects across the US to be granted FAST-41 ‘Transparency Project’ status.

FAST-41 is a legislatively established process for improving federal agency coordination and timeliness of environmental reviews for infrastructure projects, as established by Title 41 of the Fixing America’s Surface Transportation Act.

The permitting progress of the initial 10 can be publicly tracked, part of what the Trump administration calls a push for greater transparency and faster permitting.

“Being named among the first 10 FAST-41 Transparency Projects validates McDermitt’s strategic importance to US mineral security” Jindalee’s CEO Ian Rodger said at the time.

“Inclusion on the Federal Permitting Dashboard highlights our project’s national significance, offering greater transparency and federal support to advance our Exploration Plan of Operations (EPO), currently in the final stages of National Environmental Policy Act (NEPA) review with an Environmental Assessment recently published for public comment.”

Traka Resources (ASX:TKL)

TKL is the latest company to test the waters in the Siguiri Basin in Guinea (home to numerous multi-million ounce gold deposits) signing an earn-in agreement with Guinea-based Alamako corp for the Didi gold project.

The project is between two major gold assets owned by AngloGold Ashanti and just 12km east of its 8.5Moz Siguiri mine.

The Didi permit hosts high-grade gold mineralisation supported by drilling, extensive high-grade surface geochemical anomalies and widespread artisanal activity with compelling evidence for a significant gold system.

Alamako intersected high-grade gold across the project, including 1m at 6.5 g/t gold from 79m; 19m at 2.7 g/t from 31m, including 1m at 17.1 g/t from 31m; and 3m at 2.7 g/t from 15m.

“With established mineralisation and multiple walk-up drill targets already identified, the Didi gold project offers a strong platform for near-term exploration success and future resource growth,” Traka CEO Steve Lynn said.

Sunrise Energy Metals (ASX:SRL)

The stock backed by mining billionaire Robert Friedland, jumped 100% in April after receiving high-grade scandium assays from its Syerston project in central NSW.

Assays of drill pulps from 1997 that were not previously assayed for scandium returned up to 6m at 553ppm Sc from 4m, including 2m at 760ppm from 8m, and 12m at 458ppm from 12m.

SRL is now planning a new drill campaign to expand the high-grade zones and also announced a $7.5 million capital raise.

At Stockhead we tell it like it is. While DY6 Metals is a Stockhead advertiser, it did not sponsor this article.

Originally published as Who made the gains in April? The big movers were (checks notes) yep, gold stocks again