Gold Digger: Experts weigh in on mid-tier goldies as prices continue to rise

Gold miners are ramping up their cash generation with bullion prices lifting to a five-month high and December reports flowing.

Pic: Getty Images

• Gold miner Genesis Minerals has seen analysts up price targets after a strong December quarter

• Ora Banda Mining is expected to lift cash flow strongly in the second half, according to Canaccord Genuity

• Promising inflation figures that have upped bets on US rate cuts send gold to five-month high

Raleigh Finlayson is around three years into his attempt to recreate the glory days his uncles – the Lalor brothers – enjoyed at Sons of Gwalia in the '90s and early 2000s at the helm of Genesis Minerals (ASX:GMD).

Having leveraged an aggressive M&A strategy to take control of St Barbara's Gwalia gold mine and Dacian Gold's Mt Morgans (next stop Vault Minerals (ASX:VAU) and King of the Hills?), its latest win came in the form of a strong December quarter.

Churning out 57,000oz, the miner delivered an 18% beat on consensus figures, selling 50,000oz at a price of $4047/oz and all-in sustaining costs of $2202/oz.

That saw GMD stick cash in the bank, lifting cash and bullion on hand by $59m to $222m after spending $28m on growth and $4m on exploration.

At this rate the miner could hit the upper end of its 190,000-210,000oz guidance range at AISC of $2200-2400/oz, with 93,000oz produced to date, according to Canaccord Genuity analyst Tim McCormack.

That saw the broker lift its price target on the "buy" labelled stock from $4.05 to $4.15.

"We have incorporated the DecQ'24 result and lift our FY25 production forecast to 210koz (+7%) at AISCs of A$2,371/oz (VA 202koz at AISCs of A$2,302/oz). Our FY25E underlying FCF lifts 45% to A$137m (4% yield). At current spot prices our forecast increases to A$166m (5% yield)," he told clients.

Over at UBS, Levi Spry has cut Genesis from buy to neutral, but still upped his target price 7% to a more modest $3.

UBS says the strong December quarter at Gwalia, where 35,300oz were mined from the underground, was not expected to be repeated in March. But including third party ore, he thinks Genesis will deliver 217,000oz in FY25 at $2244/oz, 9% above its guidance midpoint.

GMD has set out a plan to hit a run rate of 325,000ozpa by FY29.

Ora Banda generating cash

Another Goldfields miner in the emerging producer class, Ora Banda (ASX:OBM) produced 22,973oz in the December quarter, with its shift to higher grades from underground mines at Riverina and Sand King delivered 47,300oz for the first half.

Sand King will deliver up to 21,000oz in the second half, when production is expected to be stronger, lifting output beyond 100,000oz for the first time at the Davyhurst mill.

AISC came in at $2536/oz on the bullion sold, including $116/oz of non-cash share-based payments and $183/oz on now depleted open pit stockpiles.

Cash was up $9.1m, a number which may have undershot market expectations. But it came after $30.8m in the quarter was spent on the capital intensive Riverina and Sand King underground developments, infrastructure and exploration.

Canaccord left its 85c PT and spec buy label unchanged, forecasting $89m in free cash flow through the second half with more than 80% of planned 2025 capex already spent.

"We forecast 2H'FY25 production of 57koz at AISC of A$1,913/oz, representing a 20% increase in production and a 20% decline in AISC vs 1H'FY25," McCormack said.

Gold prices run like the wind

And on the commodity price front, miners continue to enjoy tailwinds.

Bullion rose to US$2715/oz today despite a US inflation print that showed a lift from 2.7% in November to 2.9% in December. That's close to $4400/oz Aussie.

Optimism has come from a slight decline in 'core inflation' to 3.2% – below a forecast 3.3% – with commentators viewing some of the increased costs in items like used cars as temporary blips resulting from the impacts of hurricanes in America's South.

Lower core inflation, the US Fed's preferred measure of consumer prices, raises the prospect of more rate cuts – good for gold.

"Gold climbed to a five-month high as lower inflation in the US raised the prospect of further Fed rate cuts," ANZ's Jack Chambers, Brian Martin and Daniel Hynes said in a note.

"The precious metal pushed above USD2,700/oz as investors increased bets on rate cuts by July.

"Support has also been found in the gold-backed ETF market, with holdings increasing seven out of the last nine sessions. Total gold held by ETFs is now up 0.5% this year to 83.2Moz."

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	0.008	-11%	0%	-27%	-43%	14%	$ 8,678,940.02
NPM	Newpeak Metals	0.016	23%	60%	7%	12%	45%	$ 5,153,147.70
ASO	Aston Minerals Ltd	0.01	0%	25%	11%	-52%	11%	$ 12,950,642.69
MTC	Metalstech Ltd	0.14	-3%	22%	-40%	-36%	0%	$ 28,643,225.04
GED	Golden Deeps	0.023	-8%	-12%	-32%	-44%	-8%	$ 3,636,536.38
G88	Golden Mile Res Ltd	0.008	-11%	-11%	-27%	-56%	-11%	$ 4,255,405.70
LAT	Latitude 66 Limited	0.039	-15%	-32%	-71%	-74%	3%	$ 5,592,627.50
NMR	Native Mineral Res	0.045	10%	45%	125%	137%	15%	$ 21,338,521.82
AQX	Alice Queen Ltd	0.009	13%	20%	13%	50%	13%	$ 10,322,010.61
SLZ	Sultan Resources Ltd	0.008	33%	14%	0%	-49%	33%	$ 1,851,759.28
MKG	Mako Gold	0.014	0%	8%	27%	40%	8%	$ 13,812,667.05
KSN	Kingston Resources	0.078	8%	5%	0%	4%	10%	$ 65,097,150.17
AMI	Aurelia Metals Ltd	0.195	8%	15%	-9%	86%	15%	$ 304,481,624.76
GIB	Gibb River Diamonds	0.039	-5%	-3%	-11%	22%	-3%	$ 8,365,868.36
KCN	Kingsgate Consolid.	1.355	3%	1%	-18%	9%	5%	$ 356,986,093.42
TMX	Terrain Minerals	0.004	14%	14%	14%	-33%	33%	$ 9,053,477.34
BNR	Bulletin Res Ltd	0.039	3%	3%	-15%	-61%	0%	$ 11,157,306.27
NXM	Nexus Minerals Ltd	0.047	2%	-11%	15%	9%	4%	$ 21,961,132.20
SKY	SKY Metals Ltd	0.053	4%	2%	56%	43%	-2%	$ 37,667,267.80
LM8	Lunnonmetalslimited	0.2075	-1%	-12%	43%	-55%	-17%	$ 46,331,916.54
CST	Castile Resources	0.07	1%	-10%	-13%	0%	-13%	$ 20,998,554.50
YRL	Yandal Resources	0.135	-23%	-31%	-10%	29%	-23%	$ 43,292,897.48
FAU	First Au Ltd	0.002	-20%	33%	0%	-33%	0%	$ 4,143,986.55
ARL	Ardea Resources Ltd	0.33	3%	-6%	-34%	-27%	0%	$ 65,895,361.95
GWR	GWR Group Ltd	0.085	8%	4%	6%	-2%	6%	$ 26,018,549.06
IVR	Investigator Res Ltd	0.025	25%	9%	-53%	-26%	25%	$ 38,133,109.78
GTR	Gti Energy Ltd	0.0035	17%	0%	-22%	-73%	0%	$ 11,851,798.65
IPT	Impact Minerals	0.0115	5%	15%	-26%	-8%	15%	$ 36,713,204.62
BNZ	Benzmining	0.4	10%	19%	233%	82%	16%	$ 65,581,469.64
MOH	Moho Resources	0.005	0%	0%	0%	-55%	0%	$ 3,582,372.87
BCM	Brazilian Critical	0.009	-10%	0%	-40%	-65%	0%	$ 10,504,585.88
PUA	Peak Minerals Ltd	0.011	38%	38%	166%	564%	38%	$ 28,073,212.90
MRZ	Mont Royal Resources	0.038	27%	-5%	-42%	-65%	-12%	$ 3,231,132.13
SMS	Starmineralslimited	0.035	3%	-5%	25%	-6%	-3%	$ 4,263,232.86
MVL	Marvel Gold Limited	0.008	0%	-11%	33%	-33%	-11%	$ 6,910,325.62
PRX	Prodigy Gold NL	0.002	0%	0%	12%	-63%	0%	$ 6,350,111.10
AAU	Antilles Gold Ltd	0.005	25%	67%	25%	-77%	67%	$ 6,502,566.20
CWX	Carawine Resources	0.1	0%	3%	16%	-5%	0%	$ 23,612,544.90
RND	Rand Mining Ltd	1.52	9%	-3%	2%	11%	0%	$ 81,332,624.23
CAZ	Cazaly Resources	0.013	0%	-13%	-38%	-52%	-7%	$ 5,996,938.88
BMR	Ballymore Resources	0.115	-4%	-12%	-26%	-18%	-4%	$ 20,324,017.28
DRE	Dreadnought Resources Ltd	0.011	0%	10%	-50%	-59%	-8%	$ 41,445,800.00
ZNC	Zenith Minerals Ltd	0.036	-3%	-14%	-25%	-79%	-10%	$ 14,260,449.77
REZ	Resourc & En Grp Ltd	0.033	43%	74%	136%	175%	43%	$ 21,492,451.90
LEX	Lefroy Exploration	0.069	-1%	5%	-14%	-59%	-1%	$ 16,874,846.52
ERM	Emmerson Resources	0.077	-3%	12%	22%	48%	0%	$ 46,082,368.73
AM7	Arcadia Minerals	0.023	15%	15%	-34%	-67%	21%	$ 2,817,202.39
ADT	Adriatic Metals	4.065	7%	-2%	26%	16%	4%	$ 1,144,325,487.32
AS1	Asara Resources Ltd	0.021	17%	-9%	110%	75%	11%	$ 21,926,526.75
CYL	Catalyst Metals	3.43	21%	29%	112%	364%	33%	$ 741,226,024.32
CHN	Chalice Mining Ltd	1.24	16%	11%	3%	9%	12%	$ 464,887,011.66
KAL	Kalgoorliegoldmining	0.015	-17%	-25%	-46%	-40%	-17%	$ 4,096,626.03
MLS	Metals Australia	0.024	9%	14%	26%	-31%	4%	$ 17,453,268.58
ADN	Andromeda Metals Ltd	0.0065	0%	-7%	-62%	-75%	-7%	$ 22,286,729.98
MEI	Meteoric Resources	0.093	13%	15%	-34%	-60%	9%	$ 204,954,787.60
SRN	Surefire Rescs NL	0.0035	-13%	-13%	-46%	-61%	0%	$ 9,665,231.25
WA8	Warriedarresourltd	0.05	9%	2%	-25%	-19%	14%	$ 46,828,418.44
HMX	Hammer Metals Ltd	0.033	0%	0%	-15%	-23%	0%	$ 29,296,037.10
WCN	White Cliff Min Ltd	0.02	11%	18%	33%	11%	25%	$ 37,909,414.96
AVM	Advance Metals Ltd	0.037	0%	9%	37%	0%	9%	$ 5,728,971.92
ASR	Asra Minerals Ltd	0.0025	-17%	-17%	-55%	-64%	-17%	$ 6,937,890.37
ARI	Arika Resources	0.028	-7%	8%	40%	40%	4%	$ 19,005,259.14
AME	Alto Metals Limited	0	-100%	-100%	-100%	-100%	-100%	$ 69,538,678.17
CTO	Citigold Corp Ltd	0.004	0%	0%	0%	-20%	0%	$ 9,000,000.00
SMI	Santana Minerals Ltd	0.4725	1%	7%	18%	9%	-3%	$ 294,255,467.87
M2R	Miramar	0.004	-11%	-11%	-50%	-86%	33%	$ 1,587,293.14
MHC	Manhattan Corp Ltd	0.028	12%	27%	-16%	-66%	47%	$ 6,342,270.25
GRL	Godolphin Resources	0.013	0%	-7%	-19%	-69%	-10%	$ 4,668,282.45
SVG	Savannah Goldfields	0.02	-23%	-5%	-46%	-56%	-5%	$ 5,902,783.24
EMC	Everest Metals Corp	0.14	4%	4%	8%	75%	4%	$ 30,210,817.86
GUL	Gullewa Limited	0.056	-2%	-2%	-23%	2%	0%	$ 12,209,241.63
CY5	Cygnus Metals Ltd	0.13	0%	24%	128%	24%	30%	$ 110,281,554.50
G50	G50Corp Ltd	0.135	-10%	-13%	-27%	13%	-13%	$ 21,571,256.84
ADV	Ardiden Ltd	0.14	4%	4%	4%	-18%	4%	$ 8,752,450.84
AAR	Astral Resources NL	0.14	0%	-7%	69%	109%	4%	$ 167,825,938.23
VMC	Venus Metals Cor Ltd	0.07	4%	8%	-5%	-30%	4%	$ 14,709,651.23
NAE	New Age Exploration	0.004	0%	0%	0%	-27%	14%	$ 8,575,595.64
VKA	Viking Mines Ltd	0.009	13%	0%	0%	-40%	13%	$ 10,625,178.56
LCL	LCL Resources Ltd	0.01	11%	0%	11%	-39%	0%	$ 10,753,314.36
MTH	Mithril Silver Gold	0.42	-5%	11%	163%	110%	5%	$ 58,065,408.80
ADG	Adelong Gold Limited	0.005	0%	0%	-17%	0%	11%	$ 6,707,933.75
RMX	Red Mount Min Ltd	0.009	0%	-10%	-10%	-66%	0%	$ 4,184,620.16
PRS	Prospech Limited	0.027	-7%	-10%	-29%	-27%	-7%	$ 8,878,298.95
TTM	Titan Minerals	0.39	5%	8%	-19%	63%	3%	$ 96,584,792.49
AKA	Aureka Limited	0.18	6%	44%	-98%	-98%	33%	$ 17,413,932.32
AAM	Aumegametals	0.039	-11%	-7%	-29%	15%	-7%	$ 25,976,860.81
KZR	Kalamazoo Resources	0.077	-4%	-7%	15%	-27%	4%	$ 16,238,946.91
BCN	Beacon Minerals	0.025	9%	14%	-4%	-2%	14%	$ 101,432,740.61
MAU	Magnetic Resources	1.205	8%	0%	5%	33%	9%	$ 316,111,962.75
BC8	Black Cat Syndicate	0.72	13%	23%	100%	200%	27%	$ 439,831,897.58
EM2	Eagle Mountain	0.009	0%	0%	-82%	-85%	0%	$ 3,605,919.98
EMR	Emerald Res NL	3.55	6%	-1%	-11%	10%	9%	$ 2,339,081,645.36
BYH	Bryah Resources Ltd	0.004	0%	33%	0%	-67%	33%	$ 2,013,147.42
HCH	Hot Chili Ltd	0.74	8%	9%	-23%	-25%	6%	$ 113,565,337.50
WAF	West African Res Ltd	1.61	2%	6%	8%	67%	12%	$ 1,835,040,718.84
MEU	Marmota Limited	0.058	26%	53%	32%	32%	49%	$ 61,934,966.06
NVA	Nova Minerals Ltd	0.325	-20%	16%	55%	0%	-12%	$ 112,692,095.95
SVL	Silver Mines Limited	0.08	13%	-10%	-50%	-48%	3%	$ 140,602,255.97
PGD	Peregrine Gold	0.135	4%	8%	-29%	-54%	-4%	$ 8,824,194.73
ICL	Iceni Gold	0.078	-8%	22%	4%	22%	10%	$ 24,322,952.84
FG1	Flynngold	0.028	22%	0%	12%	-44%	12%	$ 7,316,861.16
WWI	West Wits Mining Ltd	0.016	7%	14%	7%	33%	14%	$ 43,226,355.84
RML	Resolution Minerals	0.011	0%	-21%	-31%	-54%	-8%	$ 2,479,280.39
AAJ	Aruma Resources Ltd	0.009	-18%	-31%	-25%	-67%	-25%	$ 1,998,523.55
HWK	Hawk Resources.	0.023	-4%	-8%	-35%	-48%	5%	$ 5,472,377.33
GMN	Gold Mountain Ltd	0.002	-33%	-33%	-20%	-50%	-33%	$ 13,737,669.55
MEG	Megado Minerals Ltd	0.014	-7%	0%	84%	-46%	-18%	$ 5,875,565.67
HMG	Hamelingoldlimited	0.06	2%	-12%	-45%	-24%	-6%	$ 9,802,200.00
BM8	Battery Age Minerals	0.096	-1%	-4%	-31%	-52%	-9%	$ 10,327,414.00
TBR	Tribune Res Ltd	4.28	2%	-5%	17%	41%	0%	$ 224,563,369.56
FML	Focus Minerals Ltd	0.21	0%	20%	40%	24%	24%	$ 60,177,315.45
VRC	Volt Resources Ltd	0.003	0%	0%	-40%	-57%	0%	$ 12,639,718.57
ARV	Artemis Resources	0.009	0%	-10%	-10%	-47%	13%	$ 18,745,750.62
HRN	Horizon Gold Ltd	0.48	0%	13%	71%	60%	0%	$ 69,523,163.04
CLA	Celsius Resource Ltd	0.0105	5%	-13%	-25%	-5%	-5%	$ 29,361,622.97
QML	Qmines Limited	0.06	25%	5%	2%	-25%	11%	$ 21,309,718.87
RDN	Raiden Resources Ltd	0.008	-47%	-33%	-71%	-75%	-27%	$ 27,607,131.54
TCG	Turaco Gold Limited	0.295	0%	5%	26%	127%	16%	$ 264,154,313.08
KCC	Kincora Copper	0.03	0%	0%	-50%	-25%	11%	$ 7,136,290.47
GBZ	GBM Rsources Ltd	0.009	29%	13%	0%	13%	13%	$ 10,410,200.00
DTM	Dart Mining NL	0.011	22%	0%	-37%	-25%	22%	$ 5,980,555.77
MKR	Manuka Resources.	0.026	0%	-13%	-26%	-64%	-7%	$ 21,079,959.39
AUC	Ausgold Limited	0.425	-2%	-4%	9%	52%	1%	$ 151,561,290.85
ANX	Anax Metals Ltd	0.011	0%	10%	-56%	-56%	-8%	$ 10,517,420.90
EMU	EMU NL	0.026	4%	-4%	-4%	-6%	-4%	$ 5,001,858.86
SFM	Santa Fe Minerals	0.032	0%	10%	0%	-26%	3%	$ 2,330,201.25
SSR	SSR Mining Inc.	12.29	2%	6%	59%	-20%	13%	$ 43,433,381.50
PNR	Pantoro Limited	0.105	7%	14%	13%	119%	17%	$ 677,673,203.97
CMM	Capricorn Metals	7.14	7%	6%	33%	63%	14%	$ 2,907,173,017.35
X64	Ten Sixty Four Ltd	0.57	0%	0%	0%	0%	0%	$ 129,844,903.32
VRL	Verity Resources	0.016	-24%	-27%	-60%	-84%	-20%	$ 2,817,045.75
HAW	Hawthorn Resources	0.041	0%	0%	-32%	-59%	0%	$ 15,410,718.20
BGD	Bartongoldholdings	0.265	10%	8%	-4%	6%	8%	$ 57,988,656.80
SVY	Stavely Minerals Ltd	0.021	-9%	17%	-30%	-49%	24%	$ 11,424,883.95
AGC	AGC Ltd	0.145	4%	-15%	-59%	123%	-6%	$ 35,923,611.08
RGL	Riversgold	0.004	0%	14%	-43%	-60%	0%	$ 5,051,137.78
TSO	Tesoro Gold Ltd	0.023	10%	15%	-28%	-8%	15%	$ 37,281,936.98
GUE	Global Uranium	0.071	-7%	27%	-17%	-56%	18%	$ 19,660,855.39
CPM	Coopermetalslimited	0.049	14%	7%	-28%	-85%	7%	$ 3,761,071.20
MM8	Medallion Metals.	0.125	0%	19%	116%	92%	4%	$ 55,271,209.55
FFM	Firefly Metals Ltd	0.975	2%	2%	12%	70%	5%	$ 541,273,845.12
CBY	Canterbury Resources	0.023	0%	-8%	-48%	-8%	5%	$ 4,146,258.82
LYN	Lycaonresources	0.155	-3%	67%	-52%	-24%	72%	$ 8,212,647.57
SFR	Sandfire Resources	9.88	4%	3%	11%	49%	6%	$ 4,467,788,579.82
SMG	Silvermetalgroupltd	0.06	0%	0%	0%	0%	0%	$ 4,881,135.48
TAM	Tanami Gold NL	0.029	0%	0%	-6%	-15%	-3%	$ 34,077,814.33
NWM	Norwest Minerals	0.016	0%	-11%	-50%	-41%	14%	$ 7,761,912.16
ALK	Alkane Resources Ltd	0.535	1%	6%	-1%	-13%	5%	$ 314,881,783.84
BMO	Bastion Minerals	0.004	0%	-20%	-33%	-73%	0%	$ 3,378,898.66
IDA	Indiana Resources	0.064	0%	7%	38%	47%	5%	$ 40,492,144.85
GSM	Golden State Mining	0.008	0%	-11%	-27%	-33%	0%	$ 2,234,965.04
NSM	Northstaw	0.02	25%	33%	36%	-50%	25%	$ 5,453,530.00
GSN	Great Southern	0.018	6%	29%	-10%	-5%	20%	$ 15,805,151.01
VAU	Vault Minerals Ltd	0.3725	10%	8%	-11%	31%	13%	$ 2,516,915,151.34
DEG	De Grey Mining	2.025	6%	8%	66%	73%	15%	$ 4,819,002,852.57
THR	Thor Energy PLC	0.011	-15%	-8%	-39%	-73%	-15%	$ 2,991,280.90
CDR	Codrus Minerals Ltd	0.014	-18%	-13%	-60%	-77%	-18%	$ 2,811,587.57
MDI	Middle Island Res	0.015	25%	7%	-12%	-17%	25%	$ 3,823,298.15
WTM	Waratah Minerals Ltd	0.145	-3%	-17%	-46%	96%	-6%	$ 30,358,124.85
POL	Polymetals Resources	0.905	3%	10%	229%	229%	14%	$ 168,983,435.48
RDS	Redstone Resources	0.003	0%	20%	-40%	-50%	20%	$ 2,776,135.38
NAG	Nagambie Resources	0.016	-14%	-24%	45%	-36%	-11%	$ 13,656,139.85
BGL	Bellevue Gold Ltd	1.12	4%	-10%	-40%	-25%	0%	$ 1,412,138,025.10
GBR	Greatbould Resources	0.045	-4%	-2%	-20%	-25%	5%	$ 34,918,615.36
KAI	Kairos Minerals Ltd	0.014	8%	4%	56%	0%	17%	$ 34,201,858.46
KAU	Kaiser Reef	0.175	6%	-3%	-3%	19%	9%	$ 43,944,348.00
HRZ	Horizon	0.048	4%	23%	37%	37%	20%	$ 75,392,170.22
CAI	Calidus Resources	0.115	0%	0%	0%	-48%	0%	$ 93,678,205.58
CDT	Castle Minerals	0.002	-20%	0%	-50%	-73%	0%	$ 3,793,628.21
RSG	Resolute Mining	0.4025	-1%	1%	-39%	-2%	2%	$ 862,265,255.27
MXR	Maximus Resources	0.062	3%	35%	100%	63%	7%	$ 25,298,473.77
EVN	Evolution Mining Ltd	5.6	10%	13%	43%	49%	16%	$ 11,120,425,916.60
CXU	Cauldron Energy Ltd	0.013	0%	8%	-56%	-74%	8%	$ 18,998,259.92
DLI	Delta Lithium	0.18	6%	6%	-20%	-40%	6%	$ 136,142,940.48
ALY	Alchemy Resource Ltd	0.007	0%	0%	-13%	-22%	0%	$ 8,246,533.79
NH3	Nh3Cleanenergyltd	0.018	-10%	-5%	38%	80%	0%	$ 9,892,886.13
OBM	Ora Banda Mining Ltd	0.73	2%	12%	62%	207%	12%	$ 1,448,204,316.79
AVW	Avira Resources Ltd	0.001	0%	0%	0%	-50%	0%	$ 2,938,790.00
LCY	Legacy Iron Ore	0.009	0%	13%	-33%	-45%	-10%	$ 87,858,383.26
PDI	Predictive Disc Ltd	0.26	4%	16%	33%	24%	13%	$ 587,725,495.75
MAT	Matsa Resources	0.042	2%	17%	50%	45%	20%	$ 27,303,675.13
ZAG	Zuleika Gold Ltd	0.012	0%	-17%	-33%	-43%	-8%	$ 8,902,559.12
GML	Gateway Mining	0.022	0%	-4%	-12%	0%	5%	$ 8,994,046.49
SBM	St Barbara Limited	0.245	-2%	-18%	7%	29%	9%	$ 259,883,121.84
SBR	Sabre Resources	0.007	-22%	-36%	-50%	-75%	-30%	$ 2,750,733.53
STK	Strickland Metals	0.079	-4%	-12%	-19%	-25%	-7%	$ 174,385,764.62
CEL	Challenger Gold Ltd	0.048	7%	4%	-8%	-34%	2%	$ 83,996,396.20
LRL	Labyrinth Resources	0.2425	-3%	-8%	590%	475%	-7%	$ 137,051,804.89
NST	Northern Star	17.43	5%	8%	25%	35%	13%	$ 19,866,740,409.04
OZM	Ozaurum Resources	0.03	11%	7%	-54%	-73%	0%	$ 5,916,346.17
TG1	Techgen Metals Ltd	0.03	-12%	-9%	3%	-52%	-14%	$ 4,918,637.01
XAM	Xanadu Mines Ltd	0.047	-4%	0%	-19%	-13%	-4%	$ 89,873,285.13
AQI	Alicanto Min Ltd	0.037	0%	-8%	68%	12%	0%	$ 27,807,218.14
KTA	Krakatoa Resources	0.009	0%	-10%	-36%	-57%	-5%	$ 5,311,206.23
ARN	Aldoro Resources	0.28	-3%	-14%	218%	211%	-26%	$ 45,402,173.18
WGX	Westgold Resources.	2.68	6%	-11%	0%	33%	-5%	$ 2,536,965,066.10
MBK	Metal Bank Ltd	0.015	0%	7%	-34%	-44%	0%	$ 7,461,884.97
A8G	Australasian Metals	0.08	3%	0%	14%	-43%	1%	$ 4,631,178.00
TAR	Taruga Minerals	0.011	10%	10%	22%	22%	10%	$ 7,060,267.85
DTR	Dateline Resources	0.003	0%	0%	-45%	-70%	-14%	$ 7,548,781.41
GOR	Gold Road Res Ltd	2.385	11%	15%	33%	40%	16%	$ 2,547,449,561.50
S2R	S2 Resources	0.076	4%	15%	-24%	-49%	13%	$ 37,587,213.42
NES	Nelson Resources.	0.003	0%	0%	50%	-40%	0%	$ 6,515,782.98
TLM	Talisman Mining	0.21	0%	-7%	-28%	-16%	2%	$ 40,488,875.04
BEZ	Besragoldinc	0.081	-1%	3%	-18%	-38%	-10%	$ 33,654,605.03
PRU	Perseus Mining Ltd	2.73	4%	2%	-1%	55%	6%	$ 3,791,974,082.28
SPQ	Superior Resources	0.0065	-19%	30%	-40%	-45%	8%	$ 13,019,182.79
PUR	Pursuit Minerals	0.087	-11%	-30%	-57%	-78%	-9%	$ 7,183,354.67
RMS	Ramelius Resources	2.33	8%	5%	19%	52%	13%	$ 2,679,676,664.40
PKO	Peako Limited	0.0025	-17%	-17%	-7%	-19%	-17%	$ 3,285,424.60
ICG	Inca Minerals Ltd	0.008	14%	33%	60%	-6%	60%	$ 8,213,780.26
A1G	African Gold Ltd.	0.059	-3%	11%	181%	87%	7%	$ 22,138,427.16
NMG	New Murchison Gold	0.01	11%	0%	100%	43%	11%	$ 74,291,969.58
GNM	Great Northern	0.015	20%	-6%	36%	-21%	7%	$ 2,319,436.16
KRM	Kingsrose Mining Ltd	0.035	-3%	6%	-22%	-5%	0%	$ 25,619,901.65
BTR	Brightstar Resources	0.02	5%	0%	25%	43%	0%	$ 216,717,145.83
RRL	Regis Resources	2.96	7%	10%	54%	39%	16%	$ 2,236,214,092.64
M24	Mamba Exploration	0.015	15%	25%	15%	-69%	25%	$ 3,524,359.14
TRM	Truscott Mining Corp	0.079	1%	1%	32%	59%	1%	$ 15,124,436.24
TNC	True North Copper	0.46	-85%	-85%	-90%	-94%	-85%	$ 58,515,142.44
MOM	Moab Minerals Ltd	0.003	0%	50%	-50%	-50%	50%	$ 4,700,998.10
KNB	Koonenberrygold	0.0175	17%	25%	17%	-71%	46%	$ 13,114,312.11
AWJ	Auric Mining	0.325	-2%	3%	38%	160%	-4%	$ 47,665,078.72
ENR	Encounter Resources	0.3	2%	-12%	-54%	-3%	-8%	$ 147,143,734.11
SNG	Siren Gold	0.056	-5%	-19%	-24%	-20%	-14%	$ 12,043,383.50
STN	Saturn Metals	0.21	11%	20%	5%	11%	2%	$ 64,865,825.64
USL	Unico Silver Limited	0.2	3%	11%	-2%	67%	3%	$ 91,968,188.55
PNM	Pacific Nickel Mines	0.024	0%	0%	0%	-59%	0%	$ 10,103,834.52
AYM	Australia United Min	0.002	0%	0%	-33%	0%	-50%	$ 3,685,154.97
ANL	Amani Gold Ltd	0	-100%	-100%	-100%	-100%	-100%	$ 21,449,587.12
HAV	Havilah Resources	0.215	0%	-4%	-10%	16%	-4%	$ 71,243,822.16
SPR	Spartan Resources	1.425	-12%	0%	34%	212%	1%	$ 1,836,641,775.47
PNT	Panthermetalsltd	0.009	-10%	0%	-64%	-79%	-18%	$ 2,233,536.87
MEK	Meeka Metals Limited	0.11	12%	51%	156%	175%	43%	$ 272,331,762.45
GMD	Genesis Minerals	2.91	8%	11%	35%	76%	18%	$ 3,227,981,736.98
PGO	Pacgold	0.077	3%	3%	-53%	-61%	3%	$ 10,121,984.03
FEG	Far East Gold	0.17	3%	-11%	0%	26%	-6%	$ 60,044,285.88
MI6	Minerals260Limited	0.13	0%	8%	-10%	-53%	0%	$ 30,420,000.00
IGO	IGO Limited	5.29	6%	6%	-11%	-29%	11%	$ 3,884,783,880.69
GAL	Galileo Mining Ltd	0.1575	-5%	31%	-15%	-33%	26%	$ 32,608,112.96
RXL	Rox Resources	0.215	-10%	13%	43%	24%	8%	$ 115,880,896.13
PTN	Patronus Resources	0.06	11%	20%	0%	-2%	22%	$ 101,518,663.85
CLZ	Classic Min Ltd	0.001	0%	0%	0%	-98%	0%	$ 1,544,025.56
TGM	Theta Gold Mines Ltd	0.155	-11%	-16%	-5%	35%	-14%	$ 140,155,723.29
FAL	Falconmetalsltd	0.13	0%	0%	-48%	4%	13%	$ 23,895,000.00
SXG	Southern Cross Gold	3.45	-3%	-15%	49%	232%	0%	$ 764,630,196.45
SPD	Southernpalladium	0.59	9%	-2%	59%	84%	-2%	$ 53,660,500.00
ORN	Orion Minerals Ltd	0.014	-7%	-7%	-7%	8%	-7%	$ 102,574,202.22
TMB	Tambourahmetals	0.025	4%	-4%	-49%	-77%	19%	$ 2,764,751.15
TMS	Tennant Minerals Ltd	0.012	9%	33%	-45%	-65%	33%	$ 10,514,794.57
AZY	Antipa Minerals Ltd	0.028	0%	-3%	133%	56%	8%	$ 148,500,774.41
PXX	Polarx Limited	0.006	0%	-14%	-57%	-23%	-8%	$ 14,253,005.87
TRE	Toubani Res Ltd	0.14	-7%	8%	-26%	17%	-18%	$ 32,054,394.26
AUN	Aurumin	0.061	-8%	-8%	69%	91%	-8%	$ 30,910,728.93
GPR	Geopacific Resources	0.02	0%	-6%	-10%	37%	0%	$ 22,478,376.00
FXG	Felix Gold Limited	0.13	24%	43%	177%	202%	55%	$ 46,011,814.24
ILT	Iltani Resources Lim	0.2	5%	0%	-9%	5%	-2%	$ 8,873,529.20
BRX	Belararoxlimited	0.16	3%	7%	-42%	-33%	-9%	$ 23,034,258.08
TM1	Terra Metals Limited	0.029	26%	12%	-63%	-37%	4%	$ 11,916,627.30
TOR	Torque Met	0.051	-2%	2%	-61%	-75%	-4%	$ 12,732,860.23
ARD	Argent Minerals	0.019	6%	6%	19%	138%	12%	$ 26,021,528.64
LM1	Leeuwin Metals Ltd	0.12	9%	100%	103%	-14%	-14%	$ 5,153,683.81

Top ASX Gold Stories this Week

Resources and Energy Group (ASX:REZ)

REZ spiked 43% in the past week, prompting a please explain from the ASX that drew little quarter from the minnow, which said there was no price sensitive news out in the wilds the market was not aware of.

It's continuing to progress trial mining activities at the Maranoa prospect near Menzies in WA, where the one-time small-scale producer is hoping to prove up a novel mining and processing operation.

It also noted that since the decision was made to go ahead with Maranoa in April last year, gold prices have run 20% higher from ~$3600/oz to over $4300/oz.

That means better cashflows from the trial mine.

GBM Resources (ASX:GBZ)

After 15 years in relative obscurity, GBM took back 100% control of the Cloncurry project after Japanese partner Nippon Mining of Australia pulled out of a JV near the massive Ernest Henry copper and gold nine in North Queensland.

Separately, GBZ says a completed RC program at the Mt Margaret project, also in the Cloncurry district immediately north of Ernest Henry intersected anomalous copper in holes testing the Rhea Shear Zone, the belt of magnetic volcanic rocks that hosts Ernest Henry.

Twelve of the 15 holes were completed, testing 10 separate targets over a broad 10km section of the Rhea Shear Zone.

The sale opens the door for the divestment of GBZ's tenure in the Clonclurry district.

"After a long relationship with NMA, it is sad to be winding up this Farm-in arrangement, but we understand the change in focus by NMA to more advanced projects," GBM MD and CEO Peter Rohner said.

"Following previous drilling and geophysical work and resulting interpretation, we completed additional drilling at our Mt Margaret Copper-Gold Project just north of the Ernest Henry Mine with some interesting anomalous copper intersections over broad intervals. However as previously advised to the market, GBM will advance the divestment of these tenements.”

At Stockhead, we tell it like it is. While Ora Banda Mining is a Stockhead advertiser, it did not sponsor this article.