Gold Digger: Gold hits new record. Does the party stop here, or keep on going?

Gold has smashed through another record high. Is US$3000/oz now in sight for ASX precious metals producers?

Gold bulls are winning the day again. Pic: Getty Images

• Gold smashes through all time high as ECB cuts rates and US GDP disappoints

• Demand for physical gold surging as world gets jittery on Trump agenda and global geopolitical uncertainty

• Aston up big on Torque merger, Emmerson gets love for NT resource update

Read it and weep, the only colour that matters on the markets today is beautiful, glistening gold.

A bit blue that graph, actually. Pic: LBMA

Futures have pushed as high as US$2849/oz in New York, US investors having upped their purchases of bullion from vaults in Switzerland by a factor of 11 in the past month.

It puts paid to any concerns gold was overheated after hitting 41 new all time highs in 2024 after breaking the mark again, with official LBMA prices hitting US$2787/oz. In Aussie dollar terms that clocked up to over $4500/oz, yet another milestone with the promise of handsome rewards for gold miners, who are sitting on costs at the moment in the range of $2150/oz.

ANZ Research's Jack Chambers, Brian Martin and commodities guru Daniel Hynes summarised the factors that pushed gold beyond the previous mark set ahead of the fractious 2024 US Presidential Election on October 30 last year, an event that returned the erratic Donald Trump to the White House.

"Gold surged to a new record high as a weaker USD and ongoing concerns of Trump’s tariffs increased investor demand. The USD fell after the ECB cut interest rates by 25bp and the latest economic data showed inflation adjusted gross domestic product in the US increased at an annualised rate of 2.3% in Q4," they said in a note.

"Trump’s tariffs are likely to lead to measurably higher inflation, a concern the broader market continues to hold. This was borne out in trade data released yesterday.

"Swiss exports of gold to the US surged to the highest level since Russia’s invasion of Ukraine, in a sign that investors were keen to protect themselves from the impact of Trump’s economic policies. Switzerland shipped 64.2t of gold to the US in December, the most since March 2022. That was 11 times more than it shipped in the previous month. Swiss exports to the UK jumped more than 13-fold to 14t in the December from the previous month."

Beating analyst projections

It was only two weeks ago that UBS tipped $4500/oz gold by mid year. To be fair, the capitulation of the Aussie dollar has played a role. In the bank's estimation the $4500 equivalent in benchmark USD was US$2900.

Five months ahead of UBS’ prediction! #gold https://t.co/ShLgjBGguf pic.twitter.com/C9xwD26Rwy

— Kristie Batten (@kristiebatten) January 30, 2025

But it still goes to show the capacity of gold to outshine predictions, a regular occurrence for several years.

ASX gold stocks were buoyed by the news, with the All Ords gold sub-index up 2.67% on Friday and 44.7% for the past year. In fact, the sub-index has only held a higher value once, on October 25 last year.

It's been an outlier against other commodities. The ASX 300 Metals and Mining sector is down over 10% over the same period and fundies we've spoken to are mulling where to head next if they take some of their gold winnings off the table.

Catalyst Metals (ASX:CYL) and Emerald Resources (ASX:EMR) led the more established producers with 4% and 4.3% gains on Friday. Speccy names like small producer Beacon Minerals (ASX:BCN) pulled out even bigger gains, with the Coolgardie gold miner up 8%.

The question remains where gold can go next, and numerous experts have US$3000/oz pegged for sometime this year.

Winners & Losers

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

CODE	COMPANY	PRICE	WEEK%	MONTH %	6 MONTH %	YEAR %	YTD %	MARKET CAP
MRR	Minrex Resources Ltd	0.01	0%	0%	-11%	-38%	14%	$ 8,678,940.02
NPM	Newpeak Metals	0.02	-11%	45%	14%	19%	45%	$ 4,186,932.50
ASO	Aston Minerals Ltd	0.01	44%	44%	30%	-24%	44%	$ 18,130,899.77
MTC	Metalstech Ltd	0.13	-7%	-11%	-40%	-43%	-11%	$ 23,704,737.96
GED	Golden Deeps	0.02	-4%	-12%	-30%	-38%	-8%	$ 3,333,491.68
G88	Golden Mile Res Ltd	0.01	-10%	-10%	-10%	-40%	0%	$ 4,466,005.70
LAT	Latitude 66 Limited	0.04	-23%	-18%	-69%	-82%	-5%	$ 5,162,425.38
NMR	Native Mineral Res	0.04	-2%	3%	105%	52%	5%	$ 22,308,454.63
AQX	Alice Queen Ltd	0.01	14%	0%	14%	33%	0%	$ 10,322,010.61
SLZ	Sultan Resources Ltd	0.01	-13%	17%	-13%	-53%	17%	$ 1,620,289.37
MKG	Mako Gold	0.01	-29%	-23%	0%	-9%	-23%	$ 10,852,809.83
KSN	Kingston Resources	0.08	3%	6%	-1%	-1%	7%	$ 59,899,004.34
AMI	Aurelia Metals Ltd	0.19	9%	9%	12%	81%	12%	$ 329,855,093.49
GIB	Gibb River Diamonds	0.04	-10%	0%	6%	15%	-5%	$ 8,151,358.91
KCN	Kingsgate Consolid.	1.26	-13%	-2%	-17%	-12%	-2%	$ 323,478,373.46
TMX	Terrain Minerals	0.01	25%	67%	43%	0%	67%	$ 9,053,477.34
BNR	Bulletin Res Ltd	0.04	17%	8%	-16%	-51%	8%	$ 11,157,306.27
NXM	Nexus Minerals Ltd	0.05	13%	18%	39%	39%	18%	$ 23,913,232.84
SKY	SKY Metals Ltd	0.06	2%	2%	90%	77%	2%	$ 39,088,674.13
LM8	Lunnonmetalslimited	0.21	3%	-13%	21%	-32%	-18%	$ 45,228,775.67
CST	Castile Resources	0.06	3%	-21%	-18%	-28%	-21%	$ 18,298,740.35
YRL	Yandal Resources	0.16	19%	-14%	3%	90%	-9%	$ 49,477,597.12
FAU	First Au Ltd	0.00	33%	0%	0%	-20%	0%	$ 4,143,986.55
ARL	Ardea Resources Ltd	0.39	8%	17%	-14%	0%	17%	$ 72,884,263.98
GWR	GWR Group Ltd	0.09	5%	11%	11%	-5%	11%	$ 28,588,282.30
IVR	Investigator Res Ltd	0.02	0%	21%	-50%	-36%	15%	$ 34,955,350.63
GTR	Gti Energy Ltd	0.00	0%	-14%	-25%	-67%	-14%	$ 10,370,323.82
IPT	Impact Minerals	0.01	0%	10%	-31%	-8%	10%	$ 33,653,770.90
BNZ	Benzmining	0.39	0%	8%	255%	100%	13%	$ 59,983,051.50
MOH	Moho Resources	0.01	0%	0%	0%	-44%	0%	$ 3,582,372.87
BCM	Brazilian Critical	0.01	-11%	-11%	-47%	-69%	-11%	$ 8,928,898.00
PUA	Peak Minerals Ltd	0.01	-14%	33%	300%	383%	50%	$ 28,073,212.90
MRZ	Mont Royal Resources	0.03	-21%	-30%	-50%	-73%	-30%	$ 2,550,893.79
SMS	Starmineralslimited	0.03	-6%	-14%	1%	-2%	-11%	$ 4,019,619.55
MVL	Marvel Gold Limited	0.01	25%	11%	25%	0%	11%	$ 8,637,907.03
PRX	Prodigy Gold NL	0.00	0%	0%	-25%	-44%	0%	$ 6,350,111.10
AAU	Antilles Gold Ltd	0.00	0%	0%	33%	-83%	33%	$ 7,431,504.23
CWX	Carawine Resources	0.11	0%	5%	17%	0%	5%	$ 24,793,172.15
RND	Rand Mining Ltd	1.58	3%	5%	6%	17%	4%	$ 89,864,018.38
CAZ	Cazaly Resources	0.01	0%	0%	-48%	-40%	-14%	$ 5,074,332.90
BMR	Ballymore Resources	0.16	24%	29%	11%	11%	29%	$ 22,974,976.05
DRE	Dreadnought Resources Ltd	0.01	0%	0%	-44%	-43%	0%	$ 45,213,600.00
ZNC	Zenith Minerals Ltd	0.05	0%	13%	-10%	-67%	13%	$ 17,112,539.72
REZ	Resourc & En Grp Ltd	0.03	-11%	35%	48%	210%	35%	$ 19,477,534.54
LEX	Lefroy Exploration	0.08	3%	7%	-4%	-46%	7%	$ 17,363,972.50
ERM	Emmerson Resources	0.11	27%	40%	98%	119%	36%	$ 62,290,650.14
AM7	Arcadia Minerals	0.02	0%	5%	-44%	-71%	5%	$ 2,347,668.66
ADT	Adriatic Metals	4.16	2%	7%	33%	20%	7%	$ 1,138,660,509.66
AS1	Asara Resources Ltd	0.02	-15%	21%	109%	92%	21%	$ 24,916,507.68
CYL	Catalyst Metals	3.51	0%	33%	79%	440%	36%	$ 754,785,036.96
CHN	Chalice Mining Ltd	1.14	-5%	2%	8%	3%	3%	$ 418,203,797.10
KAL	Kalgoorliegoldmining	0.02	14%	-16%	-33%	-41%	-11%	$ 4,369,734.43
MLS	Metals Australia	0.02	0%	-4%	5%	-29%	-4%	$ 15,303,110.00
ADN	Andromeda Metals Ltd	0.01	-14%	0%	-71%	-75%	-14%	$ 20,572,366.13
MEI	Meteoric Resources	0.08	-2%	-7%	-22%	-58%	-4%	$ 181,926,159.78
SRN	Surefire Rescs NL	0.00	0%	0%	-50%	-60%	14%	$ 9,665,231.25
WA8	Warriedarresourltd	0.05	0%	9%	-24%	17%	9%	$ 46,828,418.44
HMX	Hammer Metals Ltd	0.03	-3%	-14%	-21%	-23%	-9%	$ 27,520,519.70
WCN	White Cliff Min Ltd	0.02	0%	25%	33%	33%	25%	$ 37,909,414.96
AVM	Advance Metals Ltd	0.04	8%	21%	52%	20%	21%	$ 6,571,467.79
ASR	Asra Minerals Ltd	0.00	-17%	-17%	-58%	-58%	-17%	$ 6,937,890.37
ARI	Arika Resources	0.03	4%	7%	16%	45%	7%	$ 17,738,241.86
CTO	Citigold Corp Ltd	0.01	43%	25%	0%	0%	25%	$ 12,000,000.00
SMI	Santana Minerals Ltd	0.52	13%	7%	27%	11%	7%	$ 310,689,867.70
M2R	Miramar	0.00	0%	33%	-43%	-82%	33%	$ 1,587,293.14
MHC	Manhattan Corp Ltd	0.02	-8%	22%	-12%	-56%	16%	$ 5,402,674.65
GRL	Godolphin Resources	0.01	0%	-3%	-7%	-67%	-3%	$ 4,668,282.45
SVG	Savannah Goldfields	0.02	5%	-5%	-9%	-46%	-5%	$ 5,621,698.32
EMC	Everest Metals Corp	0.15	0%	12%	26%	84%	7%	$ 32,448,656.22
GUL	Gullewa Limited	0.06	0%	0%	-20%	2%	0%	$ 12,209,241.63
CY5	Cygnus Metals Ltd	0.13	-7%	30%	103%	97%	30%	$ 110,281,554.50
G50	G50Corp Ltd	0.18	-3%	6%	24%	80%	16%	$ 28,504,875.11
ADV	Ardiden Ltd	0.15	0%	7%	12%	-17%	7%	$ 8,752,450.84
AAR	Astral Resources NL	0.15	3%	7%	95%	124%	11%	$ 186,473,264.70
VMC	Venus Metals Cor Ltd	0.06	-2%	-4%	-23%	-36%	-4%	$ 12,356,107.03
NAE	New Age Exploration	0.00	-14%	-25%	-25%	-40%	-14%	$ 6,431,696.73
VKA	Viking Mines Ltd	0.01	-20%	0%	0%	-33%	0%	$ 10,625,178.56
LCL	LCL Resources Ltd	0.01	-11%	-20%	14%	-38%	-20%	$ 10,155,908.01
MTH	Mithril Silver Gold	0.38	-9%	-12%	159%	88%	-6%	$ 54,623,820.75
ADG	Adelong Gold Limited	0.01	-17%	0%	25%	0%	11%	$ 5,589,944.79
RMX	Red Mount Min Ltd	0.01	13%	-10%	-40%	-66%	0%	$ 3,719,662.37
PRS	Prospech Limited	0.02	0%	-28%	-45%	-42%	-28%	$ 6,905,343.63
TTM	Titan Minerals	0.44	14%	16%	2%	110%	16%	$ 99,435,564.77
AKA	Aureka Limited	0.15	-14%	3%	-98%	-98%	11%	$ 15,365,234.40
AAM	Aumegametals	0.05	5%	22%	-2%	34%	7%	$ 27,185,086.89
KZR	Kalamazoo Resources	0.08	1%	4%	18%	-16%	7%	$ 15,416,721.75
BCN	Beacon Minerals	0.03	8%	17%	13%	13%	23%	$ 105,659,104.80
MAU	Magnetic Resources	1.27	2%	14%	-2%	22%	14%	$ 330,783,826.00
BC8	Black Cat Syndicate	0.67	-4%	15%	102%	171%	18%	$ 391,959,037.98
EM2	Eagle Mountain	0.01	-11%	9%	-83%	-85%	-11%	$ 3,205,262.21
EMR	Emerald Res NL	4.33	16%	30%	18%	30%	33%	$ 2,720,167,980.84
BYH	Bryah Resources Ltd	0.00	-25%	0%	-40%	-73%	0%	$ 1,509,860.57
HCH	Hot Chili Ltd	0.69	3%	-5%	-23%	-32%	-2%	$ 100,694,599.25
WAF	West African Res Ltd	1.67	2%	15%	17%	75%	16%	$ 1,880,631,792.60
MEU	Marmota Limited	0.06	11%	62%	43%	54%	62%	$ 68,454,436.18
NVA	Nova Minerals Ltd	0.34	0%	-8%	143%	-3%	-8%	$ 103,032,773.44
SVL	Silver Mines Limited	0.08	1%	-4%	-49%	-56%	-1%	$ 126,364,052.83
PGD	Peregrine Gold	0.15	0%	11%	-19%	-50%	7%	$ 10,181,763.15
ICL	Iceni Gold	0.08	11%	10%	44%	66%	10%	$ 24,015,067.36
FG1	Flynngold	0.03	4%	-4%	4%	-50%	4%	$ 6,794,228.22
WWI	West Wits Mining Ltd	0.02	14%	14%	7%	60%	14%	$ 38,447,541.51
RML	Resolution Minerals	0.01	0%	-8%	-54%	-54%	-8%	$ 2,490,280.39
AAJ	Aruma Resources Ltd	0.01	-10%	-18%	-36%	-57%	-25%	$ 1,998,523.55
HWK	Hawk Resources.	0.02	-5%	-5%	-41%	-41%	-5%	$ 4,996,518.43
GMN	Gold Mountain Ltd	0.00	0%	-33%	-43%	-33%	-33%	$ 9,158,446.37
MEG	Megado Minerals Ltd	0.01	-13%	-24%	24%	-41%	-24%	$ 5,455,882.41
HMG	Hamelingoldlimited	0.07	8%	2%	-34%	-13%	2%	$ 11,383,200.00
BM8	Battery Age Minerals	0.10	-1%	-12%	-19%	-39%	-8%	$ 10,017,591.58
TBR	Tribune Res Ltd	4.74	14%	10%	22%	57%	10%	$ 241,353,154.20
FML	Focus Minerals Ltd	0.20	-7%	15%	56%	15%	15%	$ 60,177,315.45
VRC	Volt Resources Ltd	0.00	0%	-14%	-25%	-50%	0%	$ 13,224,718.57
ARV	Artemis Resources	0.01	-11%	0%	-20%	-56%	0%	$ 17,643,059.41
HRN	Horizon Gold Ltd	0.46	-9%	-4%	53%	67%	-4%	$ 66,626,364.58
CLA	Celsius Resource Ltd	0.01	-10%	-10%	-25%	-18%	-18%	$ 29,361,622.97
QML	Qmines Limited	0.06	4%	7%	7%	-15%	7%	$ 21,309,718.87
RDN	Raiden Resources Ltd	0.01	0%	-30%	-70%	-73%	-36%	$ 24,156,240.09
TCG	Turaco Gold Limited	0.31	-3%	22%	41%	148%	22%	$ 268,484,711.65
KCC	Kincora Copper	0.03	-10%	-4%	-38%	-19%	-4%	$ 6,422,661.42
GBZ	GBM Rsources Ltd	0.01	13%	13%	13%	0%	13%	$ 10,539,629.80
DTM	Dart Mining NL	0.01	-20%	-11%	-49%	-38%	-11%	$ 5,382,500.19
MKR	Manuka Resources.	0.02	-11%	-14%	-33%	-71%	-14%	$ 18,647,656.39
AUC	Ausgold Limited	0.47	9%	16%	42%	74%	12%	$ 158,693,586.89
ANX	Anax Metals Ltd	0.01	0%	-23%	-58%	-57%	-17%	$ 9,202,743.29
EMU	EMU NL	0.03	7%	0%	32%	-30%	7%	$ 5,578,996.42
SFM	Santa Fe Minerals	0.04	15%	26%	18%	-9%	26%	$ 2,475,838.83
SSR	SSR Mining Inc.	13.02	5%	19%	57%	-9%	19%	$ 46,168,760.42
PNR	Pantoro Limited	0.12	10%	26%	35%	188%	28%	$ 677,673,203.97
CMM	Capricorn Metals	7.72	2%	22%	49%	67%	23%	$ 3,146,344,698.21
X64	Ten Sixty Four Ltd	0.57	0%	0%	0%	0%	0%	$ 129,844,903.32
VRL	Verity Resources	0.02	-5%	-5%	-55%	-82%	-10%	$ 2,668,780.19
HAW	Hawthorn Resources	0.04	-7%	5%	-36%	-55%	5%	$ 14,070,655.75
BGD	Bartongoldholdings	0.27	4%	8%	13%	6%	10%	$ 60,176,908.00
SVY	Stavely Minerals Ltd	0.02	-6%	-6%	-29%	-47%	0%	$ 8,704,673.49
AGC	AGC Ltd	0.14	8%	-7%	-55%	109%	-10%	$ 33,357,638.86
RGL	Riversgold	0.00	0%	-25%	-40%	-70%	-25%	$ 5,892,994.08
TSO	Tesoro Gold Ltd	0.02	20%	20%	-14%	-4%	20%	$ 37,281,936.98
GUE	Global Uranium	0.08	5%	27%	18%	-38%	33%	$ 22,988,120.53
CPM	Coopermetalslimited	0.05	2%	0%	-28%	-84%	0%	$ 3,369,292.95
MM8	Medallion Metals.	0.11	-14%	-9%	64%	94%	-13%	$ 42,988,718.54
FFM	Firefly Metals Ltd	0.93	0%	3%	16%	75%	0%	$ 496,167,691.36
CBY	Canterbury Resources	0.03	25%	4%	-46%	-17%	14%	$ 5,923,226.88
LYN	Lycaonresources	0.15	-9%	67%	-43%	-23%	67%	$ 7,682,799.34
SFR	Sandfire Resources	10.01	1%	7%	20%	41%	8%	$ 4,421,918,060.52
SMG	Silvermetalgroupltd	0.06	0%	0%	0%	0%	0%	$ 4,881,135.48
TAM	Tanami Gold NL	0.03	4%	-5%	0%	-15%	-3%	$ 34,077,814.33
NWM	Norwest Minerals	0.01	-20%	-14%	-54%	-50%	-14%	$ 6,306,553.63
ALK	Alkane Resources Ltd	0.59	12%	16%	34%	5%	16%	$ 345,158,878.44
BMO	Bastion Minerals	0.01	25%	0%	-29%	-67%	25%	$ 4,223,623.32
IDA	Indiana Resources	0.07	9%	16%	71%	61%	16%	$ 44,991,272.06
GSM	Golden State Mining	0.01	0%	0%	-27%	-33%	0%	$ 2,234,965.04
NSM	Northstaw	0.02	-10%	13%	47%	-45%	13%	$ 4,908,177.00
GSN	Great Southern	0.02	24%	50%	17%	17%	40%	$ 19,756,438.76
VAU	Vault Minerals Ltd	0.39	3%	18%	3%	18%	18%	$ 2,482,902,784.43
DEG	De Grey Mining	2.01	0%	13%	71%	70%	14%	$ 4,663,164,451.87
THR	Thor Energy PLC	0.01	4%	-8%	-29%	-66%	-8%	$ 2,991,280.90
CDR	Codrus Minerals Ltd	0.02	0%	0%	-43%	-66%	0%	$ 2,811,587.57
MDI	Middle Island Res	0.01	-7%	8%	-24%	-13%	8%	$ 3,550,205.43
WTM	Waratah Minerals Ltd	0.15	-3%	-9%	-50%	45%	-6%	$ 29,346,187.36
POL	Polymetals Resources	0.90	3%	10%	221%	221%	13%	$ 174,912,678.83
RDS	Redstone Resources	0.00	0%	20%	-33%	-40%	20%	$ 2,776,135.38
NAG	Nagambie Resources	0.02	-17%	-12%	25%	-46%	-17%	$ 12,049,535.16
BGL	Bellevue Gold Ltd	1.25	9%	12%	-6%	-9%	11%	$ 1,546,933,018.41
GBR	Greatbould Resources	0.05	2%	9%	-4%	-20%	12%	$ 36,436,816.03
KAI	Kairos Minerals Ltd	0.02	14%	23%	100%	0%	33%	$ 34,201,858.46
KAU	Kaiser Reef	0.17	0%	6%	3%	42%	6%	$ 41,697,689.60
HRZ	Horizon	0.05	-2%	10%	18%	31%	15%	$ 72,250,829.80
CAI	Calidus Resources	0.12	0%	0%	0%	-44%	0%	$ 93,678,205.58
CDT	Castle Minerals	0.00	0%	0%	-50%	-67%	0%	$ 3,793,628.21
RSG	Resolute Mining	0.42	1%	2%	-34%	-5%	5%	$ 862,265,255.27
MXR	Maximus Resources	0.07	3%	10%	110%	96%	12%	$ 27,013,624.53
EVN	Evolution Mining Ltd	5.70	1%	17%	47%	79%	19%	$ 11,239,786,481.00
CXU	Cauldron Energy Ltd	0.01	-8%	-8%	-51%	-65%	0%	$ 18,998,259.92
DLI	Delta Lithium	0.18	3%	3%	-26%	-40%	3%	$ 132,560,231.52
ALY	Alchemy Resource Ltd	0.01	-14%	-14%	-25%	-25%	-14%	$ 7,068,457.54
NH3	Nh3Cleanenergyltd	0.02	17%	11%	40%	62%	17%	$ 10,992,095.70
OBM	Ora Banda Mining Ltd	0.83	11%	22%	98%	269%	28%	$ 1,485,820,013.33
AVW	Avira Resources Ltd	0.00	0%	0%	0%	-50%	0%	$ 2,938,790.00
LCY	Legacy Iron Ore	0.01	0%	-10%	-48%	-45%	-10%	$ 87,858,383.26
PDI	Predictive Disc Ltd	0.27	-2%	10%	47%	33%	15%	$ 587,725,495.75
MAT	Matsa Resources	0.04	16%	19%	59%	48%	23%	$ 26,009,500.12
ZAG	Zuleika Gold Ltd	0.01	0%	-8%	-33%	-43%	-8%	$ 8,902,559.12
GML	Gateway Mining	0.02	14%	14%	0%	-4%	14%	$ 8,994,046.49
SBM	St Barbara Limited	0.26	-2%	9%	21%	50%	13%	$ 259,883,121.84
SBR	Sabre Resources	0.01	-6%	-27%	-43%	-68%	-20%	$ 3,536,657.40
STK	Strickland Metals	0.08	-3%	-9%	-20%	-21%	-9%	$ 169,970,935.13
CEL	Challenger Gold Ltd	0.05	0%	14%	4%	-29%	6%	$ 81,011,504.69
LRL	Labyrinth Resources	0.23	-4%	-8%	134%	554%	-12%	$ 118,871,463.43
NST	Northern Star	17.30	0%	11%	25%	30%	12%	$ 19,294,541,664.54
OZM	Ozaurum Resources	0.04	24%	20%	-32%	-52%	20%	$ 6,705,192.33
TG1	Techgen Metals Ltd	0.04	26%	18%	18%	-28%	11%	$ 5,394,634.14
XAM	Xanadu Mines Ltd	0.05	2%	-8%	-18%	-10%	-4%	$ 86,048,890.02
AQI	Alicanto Min Ltd	0.04	0%	0%	76%	26%	0%	$ 31,177,790.04
KTA	Krakatoa Resources	0.01	-9%	11%	-9%	-50%	5%	$ 5,901,340.25
ARN	Aldoro Resources	0.29	2%	-17%	263%	202%	-24%	$ 48,894,648.04
WGX	Westgold Resources.	2.58	-6%	-10%	2%	17%	-9%	$ 2,395,498,612.60
MBK	Metal Bank Ltd	0.02	0%	-6%	-28%	-39%	0%	$ 7,461,884.97
A8G	Australasian Metals	0.08	3%	-1%	-10%	-36%	-3%	$ 4,457,508.83
TAR	Taruga Minerals	0.01	33%	20%	50%	50%	20%	$ 8,472,321.42
DTR	Dateline Resources	0.00	0%	-14%	-50%	-77%	-14%	$ 8,806,911.64
GOR	Gold Road Res Ltd	2.48	0%	21%	45%	62%	21%	$ 2,688,372,303.20
S2R	S2 Resources	0.07	-5%	3%	-38%	-51%	6%	$ 33,964,349.48
NES	Nelson Resources.	0.00	0%	0%	0%	-25%	0%	$ 6,515,782.98
TLM	Talisman Mining	0.19	-10%	-10%	-27%	-10%	-10%	$ 34,839,264.57
BEZ	Besragoldinc	0.08	1%	-18%	15%	-55%	-17%	$ 31,161,671.33
PRU	Perseus Mining Ltd	2.87	3%	11%	16%	59%	12%	$ 3,842,116,681.20
SPQ	Superior Resources	0.01	0%	0%	-39%	-45%	0%	$ 10,849,318.99
PUR	Pursuit Minerals	0.08	-9%	-29%	-50%	-73%	-22%	$ 6,605,383.60
RMS	Ramelius Resources	2.47	6%	16%	32%	56%	19%	$ 2,772,202,656.00
PKO	Peako Limited	0.00	-20%	33%	0%	30%	33%	$ 4,380,566.13
ICG	Inca Minerals Ltd	0.01	-8%	9%	50%	-30%	20%	$ 7,187,057.73
A1G	African Gold Ltd.	0.06	-13%	9%	85%	85%	15%	$ 24,810,306.30
NMG	New Murchison Gold	0.01	0%	0%	67%	67%	11%	$ 77,203,282.26
GNM	Great Northern	0.02	0%	0%	25%	-25%	7%	$ 2,319,436.16
KRM	Kingsrose Mining Ltd	0.04	0%	-3%	-20%	-3%	0%	$ 25,619,901.65
BTR	Brightstar Resources	0.02	0%	11%	40%	91%	5%	$ 239,529,476.97
RRL	Regis Resources	3.06	-5%	17%	88%	45%	20%	$ 2,243,768,869.98
M24	Mamba Exploration	0.02	-12%	25%	67%	-75%	25%	$ 3,524,359.14
TRM	Truscott Mining Corp	0.08	-5%	0%	30%	57%	0%	$ 17,230,370.40
TNC	True North Copper	0.37	-14%	-88%	-92%	-95%	-88%	$ 46,560,435.92
MOM	Moab Minerals Ltd	0.00	0%	0%	-60%	-71%	0%	$ 3,133,998.73
KNB	Koonenberrygold	0.03	25%	108%	67%	-34%	108%	$ 20,108,611.90
AWJ	Auric Mining	0.30	-6%	-9%	40%	161%	-12%	$ 46,920,311.87
ENR	Encounter Resources	0.26	-4%	-21%	-58%	0%	-20%	$ 119,710,156.56
SNG	Siren Gold	0.05	-6%	-29%	-28%	-21%	-26%	$ 11,167,501.06
STN	Saturn Metals	0.23	0%	15%	24%	31%	12%	$ 72,587,947.74
USL	Unico Silver Limited	0.19	3%	-5%	15%	90%	-3%	$ 81,019,594.68
PNM	Pacific Nickel Mines	0.02	0%	0%	0%	-50%	0%	$ 10,103,834.52
AYM	Australia United Min	0.00	50%	-25%	0%	0%	-25%	$ 5,527,732.46
HAV	Havilah Resources	0.22	0%	0%	13%	42%	-2%	$ 74,636,385.12
SPR	Spartan Resources	1.35	-7%	-4%	9%	212%	-4%	$ 1,695,853,904.18
PNT	Panthermetalsltd	0.01	-11%	-33%	-68%	-77%	-27%	$ 2,233,536.87
MEK	Meeka Metals Limited	0.11	-5%	36%	144%	192%	36%	$ 261,094,920.98
GMD	Genesis Minerals	3.19	5%	27%	58%	99%	29%	$ 3,521,434,622.16
PGO	Pacgold	0.07	-11%	-7%	-49%	-62%	-9%	$ 9,136,076.49
FEG	Far East Gold	0.19	0%	12%	6%	46%	6%	$ 61,759,836.90
MI6	Minerals260Limited	0.13	0%	0%	-16%	-26%	0%	$ 30,420,000.00
IGO	IGO Limited	4.93	-5%	4%	-9%	-36%	3%	$ 3,831,775,133.78
GAL	Galileo Mining Ltd	0.14	-13%	8%	-27%	-37%	8%	$ 27,667,489.78
RXL	Rox Resources	0.22	-2%	5%	43%	20%	8%	$ 127,655,503.08
PTN	Patronus Resources	0.06	0%	14%	0%	-7%	16%	$ 93,331,674.83
CLZ	Classic Min Ltd	0.00	0%	0%	0%	-98%	0%	$ 1,544,025.56
TGM	Theta Gold Mines Ltd	0.18	9%	-3%	17%	59%	-3%	$ 148,650,009.55
FAL	Falconmetalsltd	0.14	0%	13%	-55%	8%	17%	$ 23,895,000.00
SPD	Southernpalladium	0.53	-1%	-13%	38%	75%	-13%	$ 47,748,750.00
ORN	Orion Minerals Ltd	0.02	7%	7%	0%	14%	7%	$ 102,574,202.22
TMB	Tambourahmetals	0.03	8%	17%	-39%	-69%	29%	$ 2,985,931.24
TMS	Tennant Minerals Ltd	0.01	10%	22%	-39%	-61%	22%	$ 8,603,013.74
AZY	Antipa Minerals Ltd	0.03	3%	36%	240%	143%	31%	$ 181,500,946.51
PXX	Polarx Limited	0.01	6%	50%	-18%	-29%	38%	$ 23,755,009.78
TRE	Toubani Res Ltd	0.13	-7%	-21%	-32%	8%	-24%	$ 29,764,794.67
AUN	Aurumin	0.06	-5%	2%	91%	125%	-5%	$ 31,409,289.07
GPR	Geopacific Resources	0.02	15%	15%	8%	58%	15%	$ 70,014,237.17
FXG	Felix Gold Limited	0.12	-15%	35%	180%	167%	37%	$ 39,468,766.32
ILT	Iltani Resources Lim	0.21	-5%	5%	-2%	11%	0%	$ 9,317,205.66
BRX	Belararoxlimited	0.15	-14%	-6%	-33%	3%	-14%	$ 24,473,899.21
TM1	Terra Metals Limited	0.03	19%	39%	-47%	-16%	14%	$ 13,859,592.11
TOR	Torque Met	0.07	24%	41%	-45%	-65%	36%	$ 18,225,466.60
ARD	Argent Minerals	0.02	17%	24%	31%	133%	24%	$ 27,467,169.12
LM1	Leeuwin Metals Ltd	0.12	-4%	-18%	62%	15%	-18%	$ 5,387,942.17

Top ASX Gold Stories this Week

Aston Minerals (ASX:ASO)

Canadian gold and nickel hopeful Aston is heading into a leftfield merger with Torque Metals (ASX:TOR), the owner of the 250,000oz Paris gold project in WA's Eastern Goldfields.

Few if any M&A deals really have serious synergy and the addition of Aston's 1.5Moz Edleston in Ontario to Torque's higher grade Paris project, which brings with it a reasonable lithium inventory as well, fits the vibe of a week Married at First Sight made its reappearance on Australian screens.

But the deal brings significant corporate heft to the table. Entities related to Aston's Tolga Kumova and Evan Cranston, key figures in the early days of rags to riches ASX gold story Bellevue Gold (ASX:BGL), will tip $1m into Torque collectively and join its board.

$4m of cash will also be pumped into Torque, which stands well placed to develop its Paris project at a time of rising gold prices, given its proximity to mills like Higginsville, Lakewood, St Ives, Mt Monger and more.

“As Torque already owns the Paris Gold Project, located in the heart of the Western Australian Goldfields, the merger enhances the strategic potential of this asset and aligns with Torque's broader growth objectives," Torque MD Cristian Moreno, who will lead the combined company, said.

"With a resource of 250,000 ounces at an impressive grade of 3.1 g/t gold, the project spans a substantial ~1,200km² tenement package, positioning it as a cornerstone of our portfolio. Complementing this, Aston’s Edleston Gold Project in Ontario, Canada, is situated in the renowned Abitibi Greenstone Belt and contributes a significant resource of 1.5 million ounces at 1.0 g/t gold.

"This project’s ~310km² landholding offers additional high-grade exploration opportunities, further solidifying our growth potential.

“A key advantage of this merger is the injection of $4 million cash on a pre-costs basis from Aston into Torque Metals. This strategic funding approach ensures that the company is well-capitalised to advance exploration efforts in the current robust gold price environment."

Emmerson Resources (ASX:ERM)

And lastly a quick one on Emmerson Resources, which announced a 490,000oz maiden resource at the White Devil deposit near Tennant Creek in the NT at a nice grade of 4.2g/t.

Its bounty in the region now sits at 866,000oz at 4.6g/t.

But White Devil is significant in the context of its JV with London-listed Pan African Resources, which assumed control of the project and Nobles processing plant construction by acquiring Tennant Creek Mineral Group last year.

The South African gold producer will send a 6% royalty ERM's way on the material it mines.

BUT, White Devil is potentially large enough to hit the major deposit milestone that could see ERM elect to take a 40% stake.

Bridge Street Capital Partners – grain of salt here of course, since they raised money for ERM – told clients this week they were working on a new valuation for the junior, assuming White Devil becomes the main source of supply at Nobles from year 2 or 3 on, "likely to be significantly higher than both our base and upside case estimates".

Those sat at 13c and 21c respectively on initiation. ERM is currently at 10c.

The views, information, or opinions expressed in the last segment of this article are solely those of the broker and do not represent the views of Stockhead.

Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article.

Originally published as Gold Digger: Gold hits new record. Does the party stop here, or keep on going?