Gold Digger: State Street and ANZ bring golden days to Aussie investors

With bullion remaining around record highs, investors are seeing an increasing number of products leveraged to the success of the gold price.

Gold continues to pick up new fans. Pic: Getty Images

• State Street Global Advisors and ANZ launch Australian managed gold fund to capitalise on the metal's bull run

• Senior strategist Clive Maguchu says State Street is positive on the outlook for the safe haven commodity, which is close to record highs

• Junior miners Catalyst and Ora Banda among this week's gold winners

One of the world's largest institutional asset managers, a walk-up starter on the top 20 shareholder list of any ASX 300 miner, has launched its first unlisted gold fund in Australia in a bid to capitalise on safe haven demand for the hot commodity.

Gold has faced a menagerie of headwinds this year, chiefly the failed promise of US Fed rate cuts, persistent inflation, a strong US dollar and Stateside bond yields and weak ETF demand.

But the threat and reality of war, a crummy Christmas lunch of a US election being fought by your racist alcoholic uncle and senile pop-pop and hefty buying from central banks have – against the odds – led bullion to levels broaching record highs.

A weake than expected US CPI print on Thursday lifted hopes the rates tide would flow gold's way again, touching US$2409/oz on the London market overnight. That's just shy of the all time highs of US$2427/oz seen in May.

To put that into context, then Treasurer Peter Costello approved the sale of two-thirds of Australia's public gold holdings in 1997 for US$306/oz by Reserve Bank Governor Ian Macfarlane, with Costello declaring it 'no longer plays a significant role in the international financial system'.

Nearly 27 years later the alleged shirtfront of a journalist has bounced the one-time Prime Ministerial hopeful out of public life, but gold has retained and even enhanced its lustre.

And unlike the pre-boom Reserve Bank, Aussie institutional, high-net-worth and advised investors, along with intermediaries such as advisers and trading platforms, can place chips on the gold price through the State Street Gold Fund, an unlisted fund seeded by clients of ANZ Private Bank with securities backed by physical gold stored in vaults in the financial centres of London, New York and Zurich.

The fourth-largest asset manager in the world, State Street holds around US$4tn under its watch, with US$66bn invested specifically in the gold space.

Gold prices have performed strongly in 2024. Pic: LBMA

Largest of its kind

State Street senior strategist Clive Maguchu said the fund was the one of the largest managed gold funds in Australia, seeded with funding of around $50m after SSGA was approached to develop the product by ANZ Private, which manages some $9bn in funds for clients.

With access also for retail investors, the fund is linked to units in the SPDR Gold MiniShares Trust, which trades in the US market.

While gold equities have lagged bullion prices – the ASX All Ords Gold sub-index up only 10.73% in the past 12 months – Maguchu said State Street's US gold funds had trailed only fixed income and US equities in returns over the past year.

"We've been performing quite well, reasonably in line with the gold price performance, which over the last few years has performed really strongly," Maguchu told Stockhead.

"I think the one-year performance is close to 15%, which is very, very good when you look at some markets that haven't performed quite as well.

"And on a five-year basis, you're looking at 10-11% outperformance per annum for gold, which stacks up really well when you compare it across other asset classes, only global equities and US equities really outperform better in that time period."

Maguchu said access to gold had been better through physically backed funds than miners in recent years, with "some idiosyncratic risk" coming from being exposed to gold mining operations.

While it sees a small risk that rate cuts don't emerge, State Street remains bullish on gold's performance going forward.

"You've got this geopolitical uncertainty, you've got inflation that's still pretty high and sticky across many global markets, and you've got this central bank demand that's been coming primarily from China and other central banks, particularly emerging markets central banks," Maguchu said.

"Consumer discretionary is (also) a sector that's had enormous demand over the last couple of years, and that forms a pretty strong component of gold demand in terms of the gold that's used for jewellery. So we think all those factors are very positive and remain very positive for gold, at least in the medium term."

The World Gold Council stats this week showed gold ETFs, though they had seen big inflows in the past two months, posted their weakest first-half performance since 2013 with US$6.7bn in net outflows.

But Asian gold ETFs had seen strong inflows, and Maguchu said the outperformance of tech-heavy US equity indexes could explain some of the outflows in the US market.

State Street claims management fees in the gold fund are the lowest in the country, heightening its competitiveness against ETFs.

Who shined like a gold bar this week?

Catalyst Metals (ASX:CYL) (+32%)

At one point a run-of-the-mill Victorian gold explorer, aggressive M&A and a commitment to turning old goldfields around has lifted CYL into the status of 100,000ozpa gold miner.

Now worth $350 million, the firm has gold royalty running through it. Boss James Champion de Crespigny is the son of Robert, the founder and key mover behind Aussie gold success story and one time Super Pit owner Normandy Mining, acquired by mining giant Newmont in 2002.

It boasts the 30,000ozpa Henty mine in Tasmania and 85,000ozpa Plutonic gold mine, the latter acquired in a takeover of TSX-listed Superior Gold last year and once run by gold giants Northern Star Resources and Barrick Gold. It's part of a broader consolidation play that has linked together the ground around the Mid-West gold district.

CYL shares have now almost doubled year to date after the miner announced annual group production of 110,000oz earlier this week.

Plutonic's output rose 41% from 60,000oz in FY23 to 85,000oz in 2024.

"It has been a big year for Catalyst. Producing well over 100koz of gold, repaying A$28m of debt and still growing our cash balance," Champion de Crespigny said.

"Now, with Plutonic stabilising, we are able to focus on developing Trident and Plutonic East which will see our production grow to over 150koz.

"Catalyst is entering the next financial year in a balanced position with a long pipeline of near term, low capital, organic growth options.”

Ora Banda (ASX:OBM) (+26%)

Ora Banda Mining approved its Sand King development at the Davyhurst gold operations on Thursday, putting a $39m price tag on developing the second underground mine at the gold project near Kalgoorlie.

Anchored by the higher grade Riverina underground mine, OBM also forecast production of 100,000-110,000oz at an all-in sustaining cost of $1975-2125/oz for the 2025 financial year, though that will come before $25m to spend on exploration around Riverina and Sand King and $63m of growth capex.

By 2026, the company is aiming to complete the turnaround at the Davyhurst operations, where previous owners have failed to live up to expectations.

From FY26, Sand King's addition to Riverina is expected to bolster production to ~150,000oz at AISC of $1740-1890/oz.

Key to the expansion will be exploration investment, with OBM already forecasting it will spend $60-80m on exploration and growth capital to uncover future organic growth pathways.

ASX Winners & Losers

Here’s how ASX-listed precious metals stocks are performing, Friday June 5.

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop.

Stocks missing from this list? Please email [e-mail]

CODE	COMPANY	PRICE	WEEK RETURN%	MONTH RETURN %	6 MOMTH RETURN %	YEAR RETURN %	MARKET CAP
MOM	Moab Minerals Ltd	0.007	133%	75%	17%	-46%	$ 5,556,699.67
SVG	Savannah Goldfields	0.036	89%	44%	-18%	-65%	$ 10,119,056.98
PUA	Peak Minerals Ltd	0.005	67%	25%	67%	67%	$ 4,165,506.47
PGO	Pacgold	0.17	62%	31%	-13%	-48%	$ 14,725,452.00
SIH	Sihayo Gold Limited	0.003	50%	20%	100%	50%	$ 36,612,768.54
ASR	Asra Minerals Ltd	0.006	50%	33%	-14%	-40%	$ 14,252,555.44
RML	Resolution Minerals	0.003	50%	50%	0%	-40%	$ 4,830,065.42
GMN	Gold Mountain Ltd	0.003	50%	0%	-40%	-79%	$ 9,533,230.35
SI6	SI6 Metals Limited	0.003	50%	0%	-40%	-57%	$ 7,106,578.28
LYN	Lycaonresources	0.36	38%	50%	71%	36%	$ 16,160,371.02
CYL	Catalyst Metals	1.55	32%	56%	121%	103%	$ 339,119,641.44
USL	Unico Silver Limited	0.21	31%	50%	91%	83%	$ 55,324,544.34
MDI	Middle Island Res	0.017	31%	31%	0%	-14%	$ 3,049,956.28
FEG	Far East Gold	0.125	30%	9%	-11%	-58%	$ 32,198,354.38
TAR	Taruga Minerals	0.009	29%	50%	-18%	-25%	$ 5,648,214.28
HMG	Hamelingoldlimited	0.095	27%	12%	27%	-5%	$ 13,387,500.00
THR	Thor Energy PLC	0.019	27%	6%	-39%	-53%	$ 4,230,441.22
OBM	Ora Banda Mining Ltd	0.43	26%	26%	79%	231%	$ 724,481,040.66
CTO	Citigold Corp Ltd	0.005	25%	11%	0%	0%	$ 12,000,000.00
LRL	Labyrinth Resources	0.005	25%	25%	-17%	-39%	$ 5,937,718.51
REZ	Resourc & En Grp Ltd	0.016	23%	23%	33%	-24%	$ 10,346,225.95
WWI	West Wits Mining Ltd	0.016	23%	23%	33%	-24%	$ 38,125,902.21
MKG	Mako Gold	0.011	22%	10%	22%	-65%	$ 9,760,081.80
SPQ	Superior Resources	0.011	22%	83%	-27%	-56%	$ 22,013,424.60
EM2	Eagle Mountain	0.064	21%	14%	-15%	-48%	$ 24,751,120.09
PRX	Prodigy Gold NL	0.003	20%	0%	-50%	-57%	$ 6,353,323.45
HXG	Hexagon Energy	0.018	20%	13%	80%	64%	$ 8,206,654.42
ARD	Argent Minerals	0.019	19%	6%	90%	58%	$ 25,801,661.99
ANX	Anax Metals Ltd	0.026	18%	-32%	-4%	-62%	$ 17,974,244.55
AWJ	Auric Mining	0.235	18%	31%	96%	473%	$ 35,652,809.04
BC8	Black Cat Syndicate	0.375	17%	27%	56%	-4%	$ 136,033,278.84
ALY	Alchemy Resource Ltd	0.007	17%	0%	-30%	-50%	$ 9,424,610.05
HAV	Havilah Resources	0.225	15%	25%	25%	-2%	$ 71,243,822.25
RXL	Rox Resources	0.155	15%	0%	-13%	-46%	$ 59,050,124.66
TRE	Toubani Res Ltd	0.195	15%	15%	56%	11%	$ 29,283,114.18
SBM	St Barbara Limited	0.235	15%	2%	21%	-10%	$ 184,043,335.50
SPR	Spartan Resources	1.05	14%	46%	130%	471%	$ 1,084,720,728.28
PRU	Perseus Mining Ltd	2.73	14%	17%	58%	60%	$ 3,627,081,487.92
ORN	Orion Minerals Ltd	0.017	13%	0%	17%	0%	$ 103,512,517.63
RED	Red 5 Limited	0.4175	13%	-5%	39%	104%	$ 2,857,038,820.44
FAL	Falconmetalsltd	0.265	13%	6%	96%	29%	$ 46,905,000.00
ICL	Iceni Gold	0.08	13%	3%	23%	-27%	$ 21,275,362.06
ADV	Ardiden Ltd	0.135	13%	-7%	-21%	-55%	$ 8,596,157.08
VKA	Viking Mines Ltd	0.009	13%	0%	-40%	-18%	$ 10,252,584.31
NWM	Norwest Minerals	0.036	13%	50%	38%	-46%	$ 13,972,302.36
ENR	Encounter Resources	0.84	12%	143%	163%	115%	$ 380,949,705.63
GSN	Great Southern	0.019	12%	0%	-5%	0%	$ 16,066,090.26
AMI	Aurelia Metals Ltd	0.2175	12%	24%	89%	131%	$ 372,144,208.04
STN	Saturn Metals	0.195	11%	-7%	5%	8%	$ 50,328,900.90
MRR	Minrex Resources Ltd	0.01	11%	-5%	-33%	-38%	$ 10,848,675.03
KCC	Kincora Copper	0.052	11%	-20%	30%	-24%	$ 10,665,848.86
ERM	Emmerson Resources	0.064	10%	60%	21%	2%	$ 35,406,136.22
SVL	Silver Mines Limited	0.17	10%	0%	6%	-11%	$ 256,366,163.69
A1G	African Gold Ltd.	0.023	10%	-8%	-27%	-50%	$ 5,501,961.35
EMR	Emerald Res NL	3.995	9%	16%	26%	71%	$ 2,598,206,133.60
S2R	S2 Resources	0.105	9%	-13%	-32%	-42%	$ 47,550,089.27
MEK	Meeka Metals Limited	0.035	9%	9%	-10%	-8%	$ 41,980,103.69
CHN	Chalice Mining Ltd	1.355	9%	-8%	3%	-78%	$ 501,762,662.16
RGL	Riversgold	0.006	9%	0%	-52%	-60%	$ 7,257,460.92
GNM	Great Northern	0.012	9%	-14%	-40%	-54%	$ 1,855,548.92
KIN	KIN Min NL	0.06	9%	0%	-8%	76%	$ 69,510,882.33
AZY	Antipa Minerals Ltd	0.012	9%	-8%	-25%	-20%	$ 51,810,543.71
AAR	Astral Resources NL	0.085	9%	9%	20%	21%	$ 72,945,407.81
RSG	Resolute Mining	0.6375	9%	18%	59%	55%	$ 1,288,075,257.87
AVM	Advance Metals Ltd	0.026	8%	-10%	-22%	-80%	$ 3,520,723.52
GMD	Genesis Minerals	2.015	8%	11%	25%	67%	$ 2,193,379,671.88
RRL	Regis Resources	1.9225	8%	9%	-11%	-7%	$ 1,416,260,265.00
NXM	Nexus Minerals Ltd	0.042	8%	-2%	-7%	-31%	$ 15,951,465.29
MM8	Medallion Metals.	0.056	8%	18%	-10%	-20%	$ 17,230,312.51
CBY	Canterbury Resources	0.044	7%	-12%	69%	69%	$ 7,728,340.32
POL	Polymetals Resources	0.295	7%	-13%	0%	-8%	$ 55,094,396.18
LCY	Legacy Iron Ore	0.015	7%	7%	-12%	-25%	$ 115,703,223.93
ZAG	Zuleika Gold Ltd	0.015	7%	-32%	-12%	0%	$ 11,113,198.91
TG1	Techgen Metals Ltd	0.031	7%	-11%	-56%	-52%	$ 3,972,109.61
NST	Northern Star	13.685	6%	-1%	7%	7%	$ 15,272,623,676.64
ZNC	Zenith Minerals Ltd	0.05	6%	-19%	-64%	-44%	$ 17,619,044.15
WAF	West African Res Ltd	1.4625	6%	5%	52%	64%	$ 1,620,609,730.05
TLM	Talisman Mining	0.26	6%	11%	6%	58%	$ 50,846,494.23
GUE	Global Uranium	0.089	6%	-6%	-32%	-23%	$ 23,380,476.68
AUC	Ausgold Limited	0.036	6%	0%	38%	-22%	$ 93,912,801.07
SPD	Southernpalladium	0.36	6%	-15%	13%	4%	$ 32,310,000.00
ALK	Alkane Resources Ltd	0.545	6%	1%	-13%	-31%	$ 319,849,958.11
EVN	Evolution Mining Ltd	3.8	6%	1%	1%	11%	$ 7,466,900,370.08
XAM	Xanadu Mines Ltd	0.059	5%	-6%	13%	-30%	$ 101,244,354.53
PDI	Predictive Disc Ltd	0.2	5%	8%	0%	18%	$ 481,114,906.52
CMM	Capricorn Metals	5.265	5%	19%	16%	20%	$ 1,985,797,443.06
BNR	Bulletin Res Ltd	0.043	5%	2%	-68%	-31%	$ 12,625,372.89
AQI	Alicanto Min Ltd	0.022	5%	33%	-27%	-31%	$ 12,311,736.12
TBR	Tribune Res Ltd	3.4	5%	-9%	15%	3%	$ 174,718,696.41
SSR	SSR Mining Inc.	7.48	5%	-2%	-51%	-65%	$ 30,538,075.20
CPM	Coopermetalslimited	0.07	4%	-10%	-80%	-53%	$ 5,171,472.90
MTC	Metalstech Ltd	0.235	4%	0%	4%	9%	$ 45,061,728.11
MEU	Marmota Limited	0.047	4%	18%	15%	34%	$ 51,069,182.54
WGX	Westgold Resources.	2.62	4%	14%	36%	55%	$ 1,209,218,305.35
CXU	Cauldron Energy Ltd	0.025	4%	-7%	-26%	262%	$ 31,889,796.41
ILT	Iltani Resources Lim	0.255	4%	-11%	50%	21%	$ 8,162,521.20
IGO	IGO Limited	6.13	4%	-6%	-23%	-60%	$ 4,483,025,452.96
AAM	Aumegametals	0.057	4%	-3%	63%	-7%	$ 31,024,225.00
MI6	Minerals260Limited	0.145	4%	7%	-47%	-79%	$ 36,270,000.00
RMS	Ramelius Resources	1.965	3%	6%	27%	51%	$ 2,230,143,380.40
BGL	Bellevue Gold Ltd	2.03	3%	8%	33%	22%	$ 2,354,683,702.00
KAU	Kaiser Reef	0.165	3%	18%	6%	-18%	$ 28,222,242.51
HMX	Hammer Metals Ltd	0.036	3%	3%	-22%	-45%	$ 31,910,664.56
PRS	Prospech Limited	0.036	3%	6%	9%	16%	$ 10,894,599.18
AM7	Arcadia Minerals	0.04	3%	-27%	-43%	-68%	$ 4,682,004.00
SMI	Santana Minerals Ltd	1.2	3%	13%	2%	102%	$ 247,762,722.00
CWX	Carawine Resources	0.085	2%	-19%	-19%	-42%	$ 20,070,663.17
KCN	Kingsgate Consolid.	1.625	2%	-2%	29%	10%	$ 407,247,673.36
CST	Castile Resources	0.071	1%	-12%	-10%	-10%	$ 16,691,267.46
MKR	Manuka Resources.	0.0365	1%	-17%	-49%	-39%	$ 25,917,492.39
VMC	Venus Metals Cor Ltd	0.074	1%	-14%	-26%	-49%	$ 14,039,922.54
GWR	GWR Group Ltd	0.087	1%	-7%	-3%	7%	$ 27,624,632.33
DEG	De Grey Mining	1.2025	0%	13%	0%	-16%	$ 2,768,159,057.90
FFX	Firefinch Ltd	0.2	0%	0%	0%	0%	$ 236,569,315.40
GED	Golden Deeps	0.033	0%	-33%	-25%	-67%	$ 3,812,237.52
G88	Golden Mile Res Ltd	0.011	0%	-8%	-39%	-78%	$ 4,523,451.41
AQX	Alice Queen Ltd	0.007	0%	0%	17%	-46%	$ 9,175,120.54
SLZ	Sultan Resources Ltd	0.008	0%	-20%	-52%	-82%	$ 1,580,691.91
KSN	Kingston Resources	0.079	0%	-2%	4%	5%	$ 55,854,577.71
PNX	PNX Metals Limited	0.004	0%	-20%	33%	33%	$ 26,865,966.40
SKY	SKY Metals Ltd	0.035	0%	0%	-3%	-19%	$ 20,634,360.81
YRL	Yandal Resources	0.135	0%	13%	-13%	145%	$ 37,493,065.96
FAU	First Au Ltd	0.002	0%	-33%	-33%	-33%	$ 3,323,986.55
ARL	Ardea Resources Ltd	0.455	0%	-18%	0%	-33%	$ 92,852,555.48
IVR	Investigator Res Ltd	0.048	0%	-9%	33%	-8%	$ 76,026,219.55
GTR	Gti Energy Ltd	0.0045	0%	-10%	-50%	-36%	$ 11,424,361.91
SMS	Starmineralslimited	0.029	0%	-3%	-28%	-33%	$ 2,880,575.17
ADT	Adriatic Metals	3.78	0%	-5%	7%	9%	$ 1,063,636,223.37
KAL	Kalgoorliegoldmining	0.028	0%	-10%	-3%	-18%	$ 4,438,020.10
MLS	Metals Australia	0.019	0%	-14%	-44%	-47%	$ 13,788,670.96
WA8	Warriedarresourltd	0.063	0%	17%	29%	-18%	$ 43,620,946.99
WCN	White Cliff Min Ltd	0.015	0%	-29%	50%	114%	$ 24,365,811.21
MCT	Metalicity Limited	0.002	0%	0%	-20%	0%	$ 8,971,705.37
MHC	Manhattan Corp Ltd	0.002	0%	0%	-43%	-78%	$ 5,873,959.55
NAE	New Age Exploration	0.004	0%	0%	-20%	-20%	$ 7,175,595.64
RMX	Red Mount Min Ltd	0.001	0%	0%	-62%	-77%	$ 3,423,577.31
TTM	Titan Minerals	0.046	0%	44%	84%	-34%	$ 82,245,615.08
NML	Navarre Minerals Ltd	0.019	0%	0%	0%	0%	$ 28,555,653.83
BYH	Bryah Resources Ltd	0.004	0%	-50%	-69%	-78%	$ 2,013,147.42
FG1	Flynngold	0.024	0%	-14%	-54%	-45%	$ 6,618,162.15
AAJ	Aruma Resources Ltd	0.012	0%	-25%	-54%	-73%	$ 2,362,698.07
AL8	Alderan Resource Ltd	0.004	0%	0%	-20%	-33%	$ 4,427,445.22
MEG	Megado Minerals Ltd	0.01	0%	-9%	-57%	-82%	$ 2,544,555.58
TBA	Tombola Gold Ltd	0.026	0%	0%	0%	0%	$ 33,129,242.98
HRN	Horizon Gold Ltd	0.28	0%	0%	2%	-20%	$ 40,555,178.44
TCG	Turaco Gold Limited	0.21	0%	2%	68%	289%	$ 157,182,667.11
GBZ	GBM Rsources Ltd	0.01	0%	-9%	25%	-38%	$ 12,723,577.78
SFM	Santa Fe Minerals	0.032	0%	-20%	-26%	-24%	$ 2,330,201.25
X64	Ten Sixty Four Ltd	0.57	0%	0%	0%	0%	$ 130,184,181.57
HAW	Hawthorn Resources	0.06	0%	-14%	-40%	-57%	$ 20,100,936.78
TSO	Tesoro Gold Ltd	0.034	0%	-15%	21%	13%	$ 40,576,163.36
TMZ	Thomson Res Ltd	0.005	0%	0%	0%	0%	$ 4,881,018.47
TAM	Tanami Gold NL	0.031	0%	-6%	-11%	-21%	$ 36,428,008.43
BMO	Bastion Minerals	0.006	0%	-14%	-63%	-82%	$ 2,610,503.08
IDA	Indiana Resources	0.085	0%	9%	5%	113%	$ 53,921,558.46
GSM	Golden State Mining	0.01	0%	0%	-23%	-71%	$ 2,793,706.30
NSM	Northstaw	0.011	0%	-61%	-78%	-87%	$ 1,538,633.62
RDS	Redstone Resources	0.006	0%	50%	20%	-25%	$ 5,552,270.76
NAG	Nagambie Resources	0.012	0%	33%	-56%	-69%	$ 8,762,992.45
CAI	Calidus Resources	0.115	0%	5%	-43%	-39%	$ 93,678,205.58
AVW	Avira Resources Ltd	0.001	0%	0%	-50%	-60%	$ 2,938,790.00
MAT	Matsa Resources	0.026	0%	4%	-4%	-26%	$ 14,312,353.69
ION	Iondrive Limited	0.009	0%	-10%	-25%	-57%	$ 5,443,709.39
ARN	Aldoro Resources	0.072	0%	14%	-26%	-42%	$ 9,692,909.50
GOR	Gold Road Res Ltd	1.79	0%	13%	4%	13%	$ 1,901,269,708.07
BEZ	Besragoldinc	0.099	0%	1%	-29%	-53%	$ 41,391,989.69
PUR	Pursuit Minerals	0.003	0%	-25%	-57%	-77%	$ 10,906,199.96
ICG	Inca Minerals Ltd	0.006	0%	-14%	-37%	-73%	$ 4,863,218.87
OAU	Ora Gold Limited	0.0055	0%	38%	-21%	10%	$ 35,705,798.16
BTR	Brightstar Resources	0.017	0%	21%	13%	70%	$ 80,277,800.95
TRM	Truscott Mining Corp	0.06	0%	-9%	21%	47%	$ 10,470,959.58
KNB	Koonenberrygold	0.014	0%	-26%	-57%	-45%	$ 3,741,237.16
ANL	Amani Gold Ltd	0.001	0%	0%	0%	0%	$ 25,743,441.13
CLZ	Classic Min Ltd	0.001	0%	-67%	-98%	-98%	$ 808,364.94
AUN	Aurumin	0.037	0%	-5%	28%	37%	$ 16,405,696.94
SFR	Sandfire Resources	9.065	0%	2%	37%	51%	$ 4,152,879,965.80
RND	Rand Mining Ltd	1.495	0%	15%	9%	22%	$ 85,029,561.70
FFM	Firefly Metals Ltd	0.8175	-1%	21%	51%	88%	$ 389,373,449.22
CEL	Challenger Gold Ltd	0.053	-2%	-18%	-22%	-52%	$ 75,227,522.96
OZM	Ozaurum Resources	0.049	-2%	9%	-61%	11%	$ 7,778,750.00
PGD	Peregrine Gold	0.19	-3%	-12%	-34%	-36%	$ 12,896,899.99
AGC	AGC Ltd	0.33	-3%	16%	385%	459%	$ 76,061,111.04
BMR	Ballymore Resources	0.155	-3%	-9%	15%	3%	$ 27,393,240.68
MXR	Maximus Resources	0.031	-3%	11%	-30%	-9%	$ 13,265,758.42
PNT	Panthermetalsltd	0.031	-3%	-31%	-48%	-59%	$ 2,702,151.02
FML	Focus Minerals Ltd	0.15	-3%	-6%	-12%	-25%	$ 42,983,796.75
RDN	Raiden Resources Ltd	0.029	-3%	-12%	-19%	263%	$ 78,847,011.83
LAT	Latitude 66 Limited	0.14	-3%	6900%	-30%	-44%	$ 19,253,169.86
GBR	Greatbould Resources	0.055	-4%	-13%	-13%	-30%	$ 32,737,831.02
CLA	Celsius Resource Ltd	0.0135	-4%	35%	23%	-41%	$ 33,990,778.40
KTA	Krakatoa Resources	0.0135	-4%	-10%	-53%	-63%	$ 6,137,393.86
BCN	Beacon Minerals	0.026	-4%	4%	4%	-16%	$ 97,675,972.45
DLI	Delta Lithium	0.25	-4%	0%	-24%	-73%	$ 178,351,785.50
SXG	Southern Cross Gold	2.5	-4%	-11%	129%	432%	$ 489,199,845.00
GUL	Gullewa Limited	0.073	-4%	3%	33%	28%	$ 14,948,436.30
GML	Gateway Mining	0.024	-4%	-23%	33%	-40%	$ 9,491,026.20
PNR	Pantoro Limited	0.095	-4%	6%	98%	32%	$ 600,224,837.80
MTH	Mithril Resources	0.1775	-4%	-23%	-11%	-11%	$ 17,012,957.74
MRZ	Mont Royal Resources	0.066	-4%	25%	-49%	-56%	$ 5,611,966.34
TMS	Tennant Minerals Ltd	0.022	-4%	5%	-35%	-21%	$ 21,029,589.13
CAZ	Cazaly Resources	0.02	-5%	-5%	-26%	-49%	$ 9,226,059.82
GPR	Geopacific Resources	0.02	-5%	-9%	18%	0%	$ 20,064,131.19
KAI	Kairos Minerals Ltd	0.009	-5%	0%	-33%	-69%	$ 23,588,209.70
AME	Alto Metals Limited	0.035	-5%	-5%	-19%	-34%	$ 25,253,311.02
HCH	Hot Chili Ltd	0.955	-5%	-1%	-3%	-21%	$ 146,804,849.82
BGD	Bartongoldholdings	0.255	-6%	-15%	2%	0%	$ 55,211,377.81
TGM	Theta Gold Mines Ltd	0.165	-6%	10%	38%	120%	$ 124,519,471.65
ADN	Andromeda Metals Ltd	0.016	-6%	-11%	-30%	-60%	$ 49,764,334.91
KZR	Kalamazoo Resources	0.078	-6%	-14%	-42%	-35%	$ 13,849,745.91
IPT	Impact Minerals	0.015	-6%	-21%	25%	15%	$ 48,950,939.49
QML	Qmines Limited	0.057	-7%	-3%	-29%	-50%	$ 12,622,009.01
NVA	Nova Minerals Ltd	0.21	-7%	2%	-34%	-34%	$ 47,312,513.82
KRM	Kingsrose Mining Ltd	0.042	-7%	-13%	14%	-40%	$ 31,606,113.80
SNG	Siren Gold	0.076	-7%	-10%	17%	-31%	$ 15,366,385.35
HRZ	Horizon	0.037	-8%	-12%	3%	-10%	$ 41,386,686.77
EMC	Everest Metals Corp	0.12	-8%	14%	46%	-52%	$ 18,892,557.54
MAU	Magnetic Resources	1.14	-8%	6%	31%	109%	$ 299,280,687.88
PXX	Polarx Limited	0.012	-8%	9%	54%	-5%	$ 24,605,789.74
BNZ	Benzmining	0.115	-8%	-28%	-48%	-76%	$ 12,407,168.99
MBK	Metal Bank Ltd	0.023	-8%	-4%	-4%	6%	$ 8,980,563.69
DRE	Dreadnought Resources Ltd	0.022	-8%	10%	-19%	-61%	$ 80,800,678.08
ARV	Artemis Resources	0.011	-8%	-8%	-42%	-48%	$ 19,406,157.64
STK	Strickland Metals	0.096	-9%	-17%	-20%	146%	$ 194,857,912.04
TNC	True North Copper	0.051	-9%	-7%	-44%	-74%	$ 45,525,490.30
SVY	Stavely Minerals Ltd	0.029	-9%	-22%	-34%	-69%	$ 13,191,619.90
NMR	Native Mineral Res	0.019	-10%	-44%	-5%	-47%	$ 4,197,010.28
DTM	Dart Mining NL	0.019	-10%	-10%	19%	-51%	$ 4,910,224.57
ASO	Aston Minerals Ltd	0.009	-10%	-25%	-57%	-88%	$ 12,950,642.69
AS1	Asara Resources Ltd	0.009	-10%	-18%	-25%	-73%	$ 8,821,753.50
LCL	LCL Resources Ltd	0.009	-10%	-18%	-44%	-77%	$ 8,683,902.23
GAL	Galileo Mining Ltd	0.175	-10%	-34%	-34%	-72%	$ 36,560,611.50
GRL	Godolphin Resources	0.017	-11%	-23%	-58%	-62%	$ 3,636,150.76
NPM	Newpeak Metals	0.016	-11%	-24%	-10%	-82%	$ 4,493,186.11
BCM	Brazilian Critical	0.016	-11%	-6%	-30%	-69%	$ 14,122,570.23
VRC	Volt Resources Ltd	0.004	-11%	-20%	-43%	-64%	$ 20,793,390.64
A8G	Australasian Metals	0.066	-12%	-18%	-56%	-64%	$ 3,439,952.60
CY5	Cygnus Metals Ltd	0.043	-12%	-16%	-63%	-87%	$ 12,614,442.98
TMX	Terrain Minerals	0.0035	-13%	17%	-42%	-30%	$ 5,010,847.35
AAU	Antilles Gold Ltd	0.0035	-13%	-42%	-84%	-90%	$ 3,487,872.48
SRN	Surefire Rescs NL	0.007	-13%	-13%	-22%	-61%	$ 13,904,154.69
CDR	Codrus Minerals Ltd	0.035	-13%	-31%	-42%	-53%	$ 5,788,562.64
SBR	Sabre Resources	0.014	-13%	-18%	-53%	-67%	$ 5,501,467.06
TMB	Tambourahmetals	0.049	-13%	-32%	-59%	-76%	$ 4,064,077.30
FXG	Felix Gold Limited	0.042	-13%	-19%	5%	-51%	$ 10,017,159.32
M24	Mamba Exploration	0.013	-13%	-35%	-75%	-83%	$ 2,393,069.59
GIB	Gibb River Diamonds	0.037	-14%	-14%	23%	-5%	$ 7,825,849.47
ADG	Adelong Gold Limited	0.006	-14%	20%	20%	-33%	$ 6,707,933.75
WTM	Waratah Minerals Ltd	0.24	-16%	161%	155%	85%	$ 45,737,946.99
LM8	Lunnonmetalslimited	0.18	-16%	-28%	-68%	-80%	$ 43,568,673.80
NES	Nelson Resources.	0.0025	-17%	-17%	-50%	-58%	$ 1,533,985.82
MEI	Meteoric Resources	0.14	-18%	-22%	-45%	-43%	$ 268,666,179.08
EMU	EMU NL	0.023	-18%	-12%	-16%	-58%	$ 2,886,481.30
BM8	Battery Age Minerals	0.145	-19%	-9%	-29%	-70%	$ 13,488,500.30
CDT	Castle Minerals	0.004	-20%	-20%	-50%	-73%	$ 5,311,305.27
MVL	Marvel Gold Limited	0.007	-22%	-22%	-36%	-46%	$ 6,046,534.92
G50	G50Corp Ltd	0.155	-23%	29%	29%	-11%	$ 19,185,600.00
LEX	Lefroy Exploration	0.079	-25%	-12%	-55%	-66%	$ 17,038,970.97
PKO	Peako Limited	0.003	-25%	-40%	-25%	-57%	$ 1,581,254.16
MOH	Moho Resources	0.005	-29%	25%	-55%	-62%	$ 2,695,890.99
M2R	Miramar	0.007	-30%	-26%	-70%	-81%	$ 1,381,728.46
PNM	Pacific Nickel Mines	0.021	-30%	-25%	-73%	-69%	$ 8,783,315.21
DTR	Dateline Resources	0.006	-33%	-40%	-40%	-77%	$ 8,745,281.71
AYM	Australia United Min	0.002	-33%	-33%	-33%	0%	$ 3,685,154.97

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