Gold Digger: Trump’s Big Beautiful Bill delivers more spooks to help gold miners

Donald Trump’s One Big Beautiful Bill Act could see US debt grow even faster, and that would be bullish again for gold.

Big Beautiful Bill for gold. Pic: Getty Images

• In an assessment contested by Donald Trump's team, the Congressional Budget Office thinks US spending will increase on the back of his "One Big Beautiful Bill Act"

• That could provide more support for gold if US debt continues to rise

• Focus, Dateline, G50 among this week's big precious metals movers

Among the major drivers of higher gold prices has been investor fears surrounding the US government's debt bill, now worth around US$36tn with interest payments annually getting close to US$1tn.

Only social security is a bigger impost on the American taxpayer, both a beneficiary and victim of decades of administrative largesse.

The latest is Donald Trump's "One, Big, Beautiful Bill Act", another move which has spooked investors.

Over in London, research analysts at Hannam and Partners have run the numbers on the act's impact in their latest gold and silver report.

"The US$ has been undermined by the unpredictable implementation of tariffs by the Trump administration, concerns about a recession, and concerns about the long term sustainability of the US’s fiscal position given high debt and persistent deficits," they said.

"This concern has grown since the publication of the current budget reconciliation bill making its way through congress. Also known as the “One Big Beautiful Bill Act”, this could add US$3.8tn to federal debt over the next decade."

More of the same then.

Trust in US Treasuries and the USD as the choice safe haven asset class this year has been denuded, helping power gold's miracle run to US$3300/oz.

Many analysts think it goes even higher from here as investors join central banks as buyers.

Gold ETF holdings have lifted 5Moz YTD, according to Hannam analysts led by Jonathan Guy, though down 1.2Moz over the past month, while silver ETF holdings have risen 24.6Moz YTD (silver ETFs, while considerably lower than gold holdings in value, are larger in volume).

Hannam has 2025 gold modelled at US$2813/oz, well below current spot levels, with a long term price of US$2100/oz.

They say sovereign and physical buying is still more extreme than general investors.

"ETF demand has been strong across all markets since the beginning of 2025, although with some net outflows reported from Europe in April," they said.

"The forward position remains supportive with open interest of US$209bn (+30% YTD), although the COMEX net long position has declined from 757t at the beginning of the year to 559t (-26% YTD). This suggests speculative investors are taking a more cautious stance with more supportive buying from the physical market and central banks."

The White House, by the by, has claimed the Congressional Budget Office's assessment of the bill is wrong – it'll actually save US$1.6tn and doesn't account for the US$2.3-3.3tn trade Czar Peter Navarro claims will come in from the reciprocal tariffs announced on 'Liberation Day'.

How long can it last?

Canaccord Genuity's Carey MacRury, whose in the broker's Canadian team, noted the Big Beautiful Bill, which passed the House of Reps in the week gone by, adding that the deficit seven months into FY2025 was running 23% ahead of the same period in 2024.

Gold companies are enjoying stellar margins in the current environment, but the word from the broker's annual conference in Nevada last week was that they remain cautious about the long-term outlook for bullion.

"In gold, companies are enjoying record free cash flow and margins at >US$3000/oz but generally remain cautious on the sustainability of current price levels. Most are opting to return capital via share buybacks rather than committing to longer-term dividend increases or pivoting to more aggressive growth spending," MacRury said.

"M&A interest remains high, but discipline remains a priority with management teams focused on accretive, portfolio-complementary assets where they can add operational value.

"And despite strong balance sheets and a record combination of dividends and share buybacks, valuations remain at trough levels. We believe investors also still require conviction that US$3000/oz gold is sustainable."

Development stage names remain attractive to CG however, with MacRury saying they continue to trade at a 'meaningful discount'.

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%	25%	25%	-9%	43%	$ 10,848,675.03
NPM	Newpeak Metals	0.012	-20%	20%	20%	-52%	9%	$ 3,864,860.77
ASO	Aston Minerals Ltd	0.022	0%	22%	144%	47%	144%	$ 28,491,413.92
MTC	Metalstech Ltd	0.13	-7%	30%	4%	-38%	-7%	$ 27,133,811.38
GED	Golden Deeps	0.02	5%	5%	-23%	-51%	-20%	$ 3,365,388.32
G88	Golden Mile Res Ltd	0.013	-7%	30%	30%	8%	44%	$ 7,619,469.97
LAT	Latitude 66 Limited	0.038	-16%	-28%	-40%	1800%	0%	$ 5,449,226.79
NMR	Native Mineral Res	0.2	29%	11%	506%	413%	413%	$ 172,251,208.16
AQX	Alice Queen Ltd	0.004	-20%	-33%	-50%	-33%	-50%	$ 4,998,560.27
SLZ	Sultan Resources Ltd	0.0065	8%	-19%	-19%	-41%	8%	$ 1,388,819.46
KSN	Kingston Resources	0.115	-8%	22%	29%	44%	62%	$ 90,534,982.78
AMI	Aurelia Metals Ltd	0.3	-3%	0%	76%	58%	76%	$ 507,771,792.00
GIB	Gibb River Diamonds	0.037	9%	-5%	9%	-18%	-8%	$ 7,507,830.58
KCN	Kingsgate Consolid.	2.07	2%	27%	45%	14%	61%	$ 528,390,968.60
TMX	Terrain Minerals	0.003	0%	20%	-14%	-25%	0%	$ 6,745,669.80
BNR	Bulletin Res Ltd	0.064	-6%	-9%	60%	33%	64%	$ 18,497,639.35
NXM	Nexus Minerals Ltd	0.07	-7%	-13%	17%	40%	56%	$ 44,074,451.75
SKY	SKY Metals Ltd	0.049	2%	2%	-4%	20%	-9%	$ 34,824,455.13
LM8	Lunnonmetalslimited	0.215	8%	-7%	-22%	-17%	-14%	$ 46,331,916.54
CST	Castile Resources	0.054	-16%	-30%	-29%	-37%	-33%	$ 18,039,166.22
YRL	Yandal Resources	0.11	-21%	-19%	-50%	-15%	-37%	$ 34,015,848.02
FAU	First Au Ltd	0.0035	17%	17%	75%	17%	75%	$ 6,215,979.83
ARL	Ardea Resources Ltd	0.405	-1%	-2%	19%	-32%	23%	$ 84,165,166.00
GWR	GWR Group Ltd	0.095	-3%	1%	10%	-2%	19%	$ 30,742,632.23
IVR	Investigator Res Ltd	0.022	0%	-12%	-42%	-64%	10%	$ 34,966,350.63
GTR	Gti Energy Ltd	0.004	14%	33%	0%	-33%	14%	$ 13,495,273.48
IPT	Impact Minerals	0.005	-9%	-17%	-56%	-73%	-47%	$ 21,754,314.83
BNZ	Benzmining	0.47	19%	21%	45%	276%	36%	$ 65,300,905.62
MOH	Moho Resources	0.004	-33%	33%	-20%	-11%	-20%	$ 2,981,656.11
BCM	Brazilian Critical	0.01	11%	18%	0%	-44%	11%	$ 10,629,585.88
PUA	Peak Minerals Ltd	0.021	17%	133%	233%	553%	171%	$ 56,146,425.80
MRZ	Mont Royal Resources	0.041	0%	0%	3%	-25%	-5%	$ 3,486,221.51
SMS	Starmineralslimited	0.024	-4%	-11%	-38%	-11%	-33%	$ 3,643,359.67
MVL	Marvel Gold Limited	0.0135	-4%	4%	35%	50%	50%	$ 14,036,598.93
PRX	Prodigy Gold NL	0.0025	25%	25%	25%	-6%	25%	$ 6,350,111.10
AAU	Antilles Gold Ltd	0.004	0%	14%	0%	-43%	33%	$ 8,505,470.73
CWX	Carawine Resources	0.098	2%	4%	-11%	-2%	-2%	$ 22,668,043.10
RND	Rand Mining Ltd	1.92	0%	3%	17%	30%	27%	$ 106,926,806.68
CAZ	Cazaly Resources	0.015	-6%	0%	0%	-29%	7%	$ 6,919,544.87
BMR	Ballymore Resources	0.165	3%	65%	10%	-8%	38%	$ 27,393,240.68
DRE	Dreadnought Resources Ltd	0.012	-8%	-20%	-20%	-25%	0%	$ 55,874,500.00
ZNC	Zenith Minerals Ltd	0.04	-2%	-17%	-7%	-42%	0%	$ 17,112,539.72
REZ	Resourc & En Grp Ltd	0.016	0%	-33%	-38%	33%	-30%	$ 12,089,504.20
LEX	Lefroy Exploration	0.088	13%	11%	17%	-7%	26%	$ 20,122,031.18
ERM	Emmerson Resources	0.135	4%	-7%	129%	170%	75%	$ 82,630,454.27
AM7	Arcadia Minerals	0.017	-11%	6%	-26%	-76%	-11%	$ 1,995,518.36
ADT	Adriatic Metals	5.2	5%	23%	25%	24%	33%	$ 1,534,751,585.25
AS1	Asara Resources Ltd	0.052	6%	-4%	126%	373%	174%	$ 55,058,892.40
CYL	Catalyst Metals	6.45	-3%	3%	140%	456%	150%	$ 1,573,517,743.75
CHN	Chalice Mining Ltd	1.155	3%	2%	-15%	-35%	5%	$ 443,490,538.32
KAL	Kalgoorliegoldmining	0.042	2%	-3%	68%	31%	133%	$ 16,021,411.43
MLS	Metals Australia	0.018	0%	-14%	-28%	-18%	-22%	$ 13,116,951.43
ADN	Andromeda Metals Ltd	0.011	0%	-21%	38%	-35%	57%	$ 41,946,773.81
MEI	Meteoric Resources	0.12	14%	14%	28%	-35%	41%	$ 257,054,906.02
SRN	Surefire Rescs NL	0.002	-20%	-20%	-32%	-76%	-32%	$ 4,972,890.78
WA8	Warriedarresourltd	0.105	-16%	24%	75%	100%	139%	$ 100,472,610.95
HMX	Hammer Metals Ltd	0.036	20%	24%	0%	-8%	9%	$ 29,296,037.10
WCN	White Cliff Min Ltd	0.028	0%	47%	65%	56%	75%	$ 60,408,039.80
AVM	Advance Metals Ltd	0.041	-2%	-27%	21%	64%	21%	$ 10,601,393.36
ASR	Asra Minerals Ltd	0.003	50%	20%	-25%	-57%	0%	$ 5,533,072.31
ARI	Arika Resources	0.038	12%	41%	15%	52%	41%	$ 26,540,250.20
CTO	Citigold Corp Ltd	0.004	33%	0%	0%	-20%	0%	$ 12,000,000.00
SMI	Santana Minerals Ltd	0.55	-1%	1%	4%	51%	13%	$ 390,268,084.50
M2R	Miramar	0.003	0%	-25%	-40%	-68%	0%	$ 2,990,469.86
MHC	Manhattan Corp Ltd	0.023	0%	28%	-43%	-31%	21%	$ 5,167,775.76
GRL	Godolphin Resources	0.009	0%	0%	-31%	-70%	-38%	$ 4,488,733.12
SVG	Savannah Goldfields	0.021	-5%	0%	14%	-14%	14%	$ 23,973,117.82
EMC	Everest Metals Corp	0.155	3%	7%	24%	29%	15%	$ 34,740,344.53
GUL	Gullewa Limited	0.079	13%	7%	32%	11%	41%	$ 16,133,640.73
CY5	Cygnus Metals Ltd	0.086	15%	-3%	-34%	21%	-14%	$ 62,132,611.98
G50	G50Corp Ltd	0.19	90%	73%	-5%	27%	23%	$ 28,907,578.62
ADV	Ardiden Ltd	0.155	7%	7%	19%	3%	15%	$ 9,690,213.43
AAR	Astral Resources NL	0.18	9%	13%	38%	100%	33%	$ 248,136,575.40
VMC	Venus Metals Cor Ltd	0.135	29%	29%	93%	50%	101%	$ 26,477,372.21
NAE	New Age Exploration	0.004	0%	0%	-11%	33%	14%	$ 10,637,595.64
VKA	Viking Mines Ltd	0.006	-20%	-14%	-45%	-40%	-25%	$ 8,063,692.49
LCL	LCL Resources Ltd	0.006	-14%	-14%	-40%	-50%	-40%	$ 7,168,876.24
MTH	Mithril Silver Gold	0.425	16%	21%	10%	98%	6%	$ 53,932,503.14
ADG	Adelong Gold Limited	0.006	-25%	0%	0%	50%	33%	$ 9,782,403.39
RMX	Red Mount Min Ltd	0.008	0%	0%	-20%	-47%	-11%	$ 3,719,662.37
PRS	Prospech Limited	0.025	4%	-11%	-14%	-36%	-14%	$ 8,220,647.18
TTM	Titan Minerals	0.4	5%	0%	-19%	29%	5%	$ 99,068,168.28
AKA	Aureka Limited	0.12	-11%	-17%	14%	-99%	-11%	$ 11,780,013.04
AAM	Aumegametals	0.036	-3%	-5%	0%	-51%	-14%	$ 22,352,182.55
KZR	Kalamazoo Resources	0.085	0%	1%	2%	-15%	15%	$ 18,867,842.46
BCN	Beacon Minerals	0.0285	6%	6%	30%	2%	30%	$ 118,339,072.38
MAU	Magnetic Resources	1.75	6%	17%	50%	59%	58%	$ 448,131,605.93
BC8	Black Cat Syndicate	0.815	-5%	-19%	15%	123%	44%	$ 562,353,170.01
EM2	Eagle Mountain	0.005	0%	0%	-63%	-91%	-44%	$ 6,242,705.09
EMR	Emerald Res NL	4.75	3%	18%	31%	26%	46%	$ 3,017,545,948.62
BYH	Bryah Resources Ltd	0.005	25%	25%	25%	-38%	67%	$ 3,479,814.09
HCH	Hot Chili Ltd	0.55	4%	20%	-28%	-48%	-21%	$ 83,377,881.95
WAF	West African Res Ltd	2.83	8%	19%	87%	92%	97%	$ 3,054,905,733.32
MEU	Marmota Limited	0.042	-2%	8%	11%	-5%	8%	$ 53,023,760.55
NVA	Nova Minerals Ltd	0.335	0%	0%	37%	43%	-9%	$ 100,129,199.27
SVL	Silver Mines Limited	0.099	0%	-1%	-6%	-49%	27%	$ 177,977,539.20
PGD	Peregrine Gold	0.12	-11%	-25%	-20%	-57%	-14%	$ 11,030,206.33
ICL	Iceni Gold	0.075	25%	10%	47%	6%	6%	$ 19,459,785.18
FG1	Flynngold	0.031	24%	55%	7%	11%	24%	$ 11,348,177.63
WWI	West Wits Mining Ltd	0.026	-13%	37%	73%	86%	86%	$ 70,964,816.93
RML	Resolution Minerals	0.017	31%	113%	6%	6%	42%	$ 7,361,015.97
AAJ	Aruma Resources Ltd	0.01	0%	11%	-33%	-47%	-17%	$ 2,636,940.78
HWK	Hawk Resources.	0.017	-15%	-11%	-43%	-52%	-23%	$ 4,605,800.63
GMN	Gold Mountain Ltd	0.002	0%	33%	0%	-50%	-33%	$ 8,429,638.87
MEG	Megado Minerals Ltd	0.014	8%	75%	-7%	34%	-18%	$ 5,875,565.67
HMG	Hamelingoldlimited	0.086	23%	-2%	23%	-4%	34%	$ 14,371,875.00
BM8	Battery Age Minerals	0.048	-9%	-11%	-52%	-68%	-54%	$ 5,728,915.68
TBR	Tribune Res Ltd	4.81	-1%	-5%	0%	26%	12%	$ 251,846,769.60
FML	Focus Minerals Ltd	0.385	60%	60%	114%	166%	126%	$ 101,728,318.98
VRC	Volt Resources Ltd	0.005	0%	11%	25%	0%	67%	$ 18,739,111.93
ARV	Artemis Resources	0.0065	8%	-19%	-35%	-57%	-19%	$ 16,435,440.50
HRN	Horizon Gold Ltd	0.51	2%	11%	11%	96%	6%	$ 72,419,961.50
CLA	Celsius Resource Ltd	0.006	-14%	-14%	-45%	-40%	-45%	$ 21,948,419.16
QML	Qmines Limited	0.035	3%	-15%	-49%	-50%	-35%	$ 16,298,309.67
RDN	Raiden Resources Ltd	0.006	0%	20%	-60%	-87%	-45%	$ 20,705,348.65
TCG	Turaco Gold Limited	0.5	14%	22%	56%	138%	96%	$ 451,990,730.50
KCC	Kincora Copper	0.035	17%	-10%	-8%	-33%	30%	$ 8,289,367.35
GBZ	GBM Rsources Ltd	0.008	0%	-11%	0%	-33%	0%	$ 9,368,559.82
DTM	Dart Mining NL	0.004	14%	-20%	-60%	-83%	-56%	$ 4,792,222.31
MKR	Manuka Resources.	0.037	9%	9%	6%	-20%	32%	$ 29,187,636.08
AUC	Ausgold Limited	0.65	3%	23%	55%	76%	55%	$ 230,554,047.72
ANX	Anax Metals Ltd	0.008	0%	60%	-20%	-81%	-33%	$ 7,062,460.54
EMU	EMU NL	0.018	-5%	-10%	-36%	-32%	-33%	$ 3,802,472.42
SFM	Santa Fe Minerals	0.037	0%	0%	28%	-12%	19%	$ 2,694,295.19
PNR	Pantoro Gold Limited	3.4	-1%	20%	100%	122%	122%	$ 1,334,063,288.70
CMM	Capricorn Metals	9.76	5%	5%	50%	104%	55%	$ 4,047,742,332.69
VRL	Verity Resources	0.029	12%	81%	49%	-57%	49%	$ 7,742,283.14
HAW	Hawthorn Resources	0.053	6%	20%	10%	-22%	29%	$ 17,755,827.49
BGD	Bartongoldholdings	0.735	9%	52%	177%	126%	200%	$ 158,720,390.83
SVY	Stavely Minerals Ltd	0.013	18%	0%	-35%	-74%	-24%	$ 6,528,505.12
AGC	AGC Ltd	0.16	0%	14%	-18%	-59%	3%	$ 41,055,555.52
RGL	Riversgold	0.005	25%	11%	67%	-29%	25%	$ 6,734,850.37
TSO	Tesoro Gold Ltd	0.025	-7%	-17%	4%	-36%	25%	$ 46,602,420.96
GUE	Global Uranium	0.068	10%	10%	19%	-31%	13%	$ 29,267,467.13
CPM	Coopermetalslimited	0.038	0%	-5%	-17%	-65%	-17%	$ 2,977,514.70
MM8	Medallion Metals.	0.27	0%	13%	203%	440%	125%	$ 132,247,879.40
FFM	Firefly Metals Ltd	1.09	9%	34%	0%	38%	18%	$ 614,656,448.53
CBY	Canterbury Resources	0.026	18%	30%	18%	-54%	18%	$ 5,393,463.30
SLA	Solara Minerals	0.12	4%	-8%	-47%	-52%	33%	$ 7,248,102.88
SFR	Sandfire Resources	11.53	5%	13%	11%	19%	24%	$ 5,306,870,701.60
TAM	Tanami Gold NL	0.049	31%	40%	75%	40%	63%	$ 65,805,434.58
NWM	Norwest Minerals	0.011	-8%	-8%	-32%	-64%	-8%	$ 9,122,872.54
ALK	Alkane Resources Ltd	0.77	5%	-9%	56%	36%	51%	$ 454,156,419.00
BMO	Bastion Minerals	0.0015	50%	-50%	-75%	-81%	-63%	$ 1,807,255.13
IDA	Indiana Resources	0.078	-4%	3%	30%	83%	28%	$ 50,775,864.18
GSM	Golden State Mining	0.008	-11%	-11%	0%	-27%	0%	$ 2,234,965.04
NSM	Northstaw	0.035	-8%	-8%	106%	38%	119%	$ 8,210,295.00
GSN	Great Southern	0.02	-9%	-5%	11%	11%	33%	$ 20,932,890.09
VAU	Vault Minerals Ltd	0.45	0%	2%	29%	2%	36%	$ 2,959,075,921.17
DEG	De Grey Mining	0	-100%	-100%	-100%	-100%	-100%	$ 5,915,063,112.00
THR	Thor Energy PLC	0.01	0%	0%	-23%	-50%	-23%	$ 7,818,688.19
CDR	Codrus Minerals Ltd	0.034	0%	70%	89%	-35%	100%	$ 6,822,234.51
MDI	Middle Island Res	0.023	28%	15%	53%	35%	92%	$ 5,829,743.38
WTM	Waratah Minerals Ltd	0.32	-6%	60%	78%	178%	106%	$ 74,723,925.12
POL	Polymetals Resources	0.83	0%	-13%	9%	137%	4%	$ 204,232,215.14
RDS	Redstone Resources	0.005	-17%	0%	67%	25%	100%	$ 4,626,892.30
NAG	Nagambie Resources	0.016	-6%	-27%	-27%	33%	-11%	$ 12,451,186.33
BGL	Bellevue Gold Ltd	0.99	9%	9%	-23%	-49%	-12%	$ 1,402,509,801.65
GBR	Greatbould Resources	0.068	10%	-13%	58%	15%	58%	$ 50,955,702.69
KAI	Kairos Minerals Ltd	0.025	-7%	25%	56%	108%	108%	$ 68,403,716.91
KAU	Kaiser Reef	0.185	16%	3%	16%	32%	16%	$ 112,773,768.50
HRZ	Horizon	0.046	-6%	-23%	10%	-6%	15%	$ 98,603,570.84
CDT	Castle Minerals	0.1	3%	72%	33%	-44%	67%	$ 11,020,909.15
RSG	Resolute Mining	0.63	0%	26%	45%	15%	59%	$ 1,298,720,507.93
EVN	Evolution Mining Ltd	8.85	0%	11%	75%	125%	84%	$ 17,741,073,651.76
CXU	Cauldron Energy Ltd	0.008	17%	3%	-47%	-78%	-32%	$ 10,229,832.26
DLI	Delta Lithium	0.18	-5%	0%	-5%	-39%	6%	$ 128,977,522.56
ALY	Alchemy Resource Ltd	0.006	0%	0%	-14%	-14%	-14%	$ 7,068,457.54
NH3	Nh3Cleanenergyltd	0.024	4%	-8%	14%	33%	33%	$ 13,550,514.84
OBM	Ora Banda Mining Ltd	1.145	9%	8%	58%	242%	76%	$ 2,006,178,447.02
AVW	Avira Resources Ltd	0.007	0%	0%	-65%	-65%	-65%	$ 1,535,000.00
LCY	Legacy Iron Ore	0.009	0%	13%	-18%	-38%	-10%	$ 87,858,383.26
PDI	Predictive Disc Ltd	0.385	-8%	4%	57%	103%	67%	$ 995,765,940.68
MAT	Matsa Resources	0.068	3%	5%	66%	134%	94%	$ 49,845,343.61
ZAG	Zuleika Gold Ltd	0.012	9%	0%	-25%	-43%	-8%	$ 8,902,559.12
GML	Gateway Mining	0.032	0%	7%	23%	60%	52%	$ 12,673,429.15
SBM	St Barbara Limited	0.33	5%	22%	-3%	40%	47%	$ 346,510,829.12
SBR	Sabre Resources	0.008	0%	0%	-33%	-56%	-20%	$ 3,155,695.46
STK	Strickland Metals	0.145	21%	56%	81%	38%	71%	$ 316,730,371.58
CEL	Challenger Gold Ltd	0.096	20%	19%	113%	39%	104%	$ 153,836,336.20
GG8	Gorilla Gold Mines	0.5	-2%	10%	108%	1085%	92%	$ 310,451,393.84
NST	Northern Star	20.98	4%	6%	20%	46%	36%	$ 29,042,393,017.67
OZM	Ozaurum Resources	0.079	-6%	-20%	139%	41%	163%	$ 18,778,153.59
TG1	Techgen Metals Ltd	0.024	-4%	9%	-23%	-44%	-31%	$ 4,283,974.17
XAM	Xanadu Mines Ltd	0.08	0%	33%	60%	21%	63%	$ 181,005,683.93
AQI	Alicanto Min Ltd	0.026	-4%	-13%	-28%	42%	-30%	$ 22,899,860.35
KTA	Krakatoa Resources	0.01	0%	0%	-9%	-38%	5%	$ 6,201,340.25
ARN	Aldoro Resources	0.32	7%	-38%	264%	316%	-16%	$ 56,058,088.28
WGX	Westgold Resources.	3.04	7%	1%	7%	33%	7%	$ 2,810,466,876.20
MBK	Metal Bank Ltd	0.013	18%	8%	-24%	-40%	-13%	$ 6,466,966.97
A8G	Australasian Metals	0.067	-8%	-4%	-13%	-29%	-15%	$ 3,878,611.58
TAR	Taruga Minerals	0.009	13%	-10%	-10%	0%	-10%	$ 6,423,786.52
DTR	Dateline Resources	0.097	94%	978%	3133%	708%	2671%	$ 262,956,020.95
GOR	Gold Road Res Ltd	3.4	1%	11%	82%	105%	66%	$ 3,617,708,869.80
S2R	S2 Resources	0.09	0%	-14%	29%	-25%	34%	$ 43,927,225.32
NES	Nelson Resources.	0.0025	-17%	0%	25%	-17%	-17%	$ 5,429,819.15
TLM	Talisman Mining	0.145	0%	0%	-31%	-59%	-29%	$ 27,306,450.61
BEZ	Besragoldinc	0.032	-14%	-30%	-50%	-71%	-64%	$ 15,373,091.19
PRU	Perseus Mining Ltd	3.89	4%	17%	47%	63%	51%	$ 5,215,884,623.86
SPQ	Superior Resources	0.004	0%	-20%	-50%	-60%	-33%	$ 9,483,930.90
PUR	Pursuit Minerals	0.041	3%	-5%	-59%	-84%	-57%	$ 4,488,028.34
RMS	Ramelius Resources	2.88	2%	13%	37%	51%	39%	$ 3,279,812,674.64
PKO	Peako Limited	0.003	20%	0%	0%	-3%	0%	$ 4,463,225.88
ICG	Inca Minerals Ltd	0.005	11%	0%	-17%	-29%	0%	$ 7,881,950.31
A1G	African Gold Ltd.	0.165	38%	22%	200%	511%	200%	$ 79,203,271.29
NMG	New Murchison Gold	0.017	13%	-6%	70%	278%	89%	$ 157,613,601.71
GNM	Great Northern	0.017	-15%	21%	21%	42%	21%	$ 2,628,694.31
KRM	Kingsrose Mining Ltd	0.03	-3%	-9%	-19%	-36%	-14%	$ 23,359,322.09
BTR	Brightstar Resources	0.59	-8%	19%	-6%	57%	18%	$ 271,732,046.40
RRL	Regis Resources	5.06	1%	13%	98%	164%	98%	$ 3,732,060,005.96
M24	Mamba Exploration	0.014	0%	8%	27%	-30%	17%	$ 4,132,318.54
TRM	Truscott Mining Corp	0.065	0%	8%	-13%	4%	-17%	$ 12,444,156.40
TNC	True North Copper	0.325	2%	48%	-89%	-95%	-89%	$ 39,010,094.96
MOM	Moab Minerals Ltd	0.001	0%	-33%	-67%	-80%	-50%	$ 1,733,666.03
KNB	Koonenberrygold	0.071	3%	6%	344%	255%	492%	$ 69,679,088.57
AWJ	Auric Mining	0.2	5%	-22%	-38%	14%	-41%	$ 36,266,314.89
ENR	Encounter Resources	0.25	6%	32%	-32%	-32%	-23%	$ 117,216,194.97
SNG	Siren Gold	0.058	21%	4%	-3%	-28%	-11%	$ 10,729,559.84
STN	Saturn Metals	0.32	10%	0%	42%	36%	56%	$ 142,494,668.82
USL	Unico Silver Limited	0.245	4%	2%	20%	44%	26%	$ 98,537,344.88
PNM	Pacific Nickel Mines	0.024	0%	0%	0%	-29%	0%	$ 10,103,834.52
AYM	Australia United Min	0.003	0%	50%	50%	50%	-25%	$ 5,527,732.46
HAV	Havilah Resources	0.175	6%	0%	-13%	-22%	-22%	$ 62,762,414.76
SPR	Spartan Resources	2.27	4%	13%	59%	191%	61%	$ 2,819,444,282.60
PNT	Panthermetalsltd	0.013	0%	-24%	-24%	-60%	18%	$ 3,610,854.58
MEK	Meeka Metals Limited	0.145	0%	-6%	91%	282%	88%	$ 339,586,447.95
GMD	Genesis Minerals	4.72	8%	20%	87%	147%	91%	$ 5,106,279,708.00
PGO	Pacgold	0.065	-14%	-4%	-23%	-54%	-13%	$ 9,333,258.00
FEG	Far East Gold	0.15	0%	-3%	-9%	15%	-17%	$ 56,889,255.22
MI6	Minerals260Limited	0.15	-6%	20%	11%	-9%	15%	$ 289,426,666.62
IGO	IGO Limited	3.88	-6%	2%	-20%	-47%	-19%	$ 3,104,798,033.30
GAL	Galileo Mining Ltd	0.105	-13%	-5%	-19%	-57%	-16%	$ 21,738,741.97
RXL	Rox Resources	0.3	0%	-19%	94%	82%	50%	$ 216,088,580.88
PTN	Patronus Resources	0.057	-2%	-10%	-8%	-7%	16%	$ 94,969,072.63
CLZ	Classic Min Ltd	0.001	0%	0%	0%	-80%	0%	$ 1,544,025.56
TGM	Theta Gold Mines Ltd	0.12	-8%	-11%	-31%	-20%	-33%	$ 101,134,291.99
FAL	Falconmetalsltd	0.12	-8%	4%	-14%	-43%	4%	$ 24,780,000.00
SPD	Southernpalladium	0.415	32%	84%	-41%	-22%	-31%	$ 35,470,500.00
ORN	Orion Minerals Ltd	0.012	0%	0%	-20%	-35%	-20%	$ 82,205,373.82
TMB	Tambourahmetals	0.021	-13%	-22%	-19%	-71%	0%	$ 2,469,390.97
TMS	Tennant Minerals Ltd	0.006	-14%	-25%	-45%	-71%	-33%	$ 5,735,342.49
AZY	Antipa Minerals Ltd	0.635	-2%	23%	176%	323%	144%	$ 351,204,445.12
PXX	Polarx Limited	0.008	14%	14%	0%	-43%	23%	$ 21,379,508.80
TRE	Toubani Res Ltd	0.285	-10%	8%	58%	84%	68%	$ 72,045,386.84
AUN	Aurumin	0.082	22%	37%	44%	105%	24%	$ 36,080,990.51
GPR	Geopacific Resources	0.018	-10%	-22%	-19%	-19%	-10%	$ 57,284,375.87
FXG	Felix Gold Limited	0.14	4%	-15%	106%	133%	67%	$ 59,587,430.42
ILT	Iltani Resources Lim	0.22	-2%	-19%	47%	-28%	7%	$ 9,982,720.35
BRX	Belararoxlimited	0.094	-22%	13%	-49%	-57%	-46%	$ 14,988,983.15
TM1	Terra Metals Limited	0.039	39%	34%	26%	-13%	39%	$ 14,944,862.23
TOR	Torque Met	0.135	17%	41%	170%	-33%	155%	$ 35,056,310.38
ARD	Argent Minerals	0.021	0%	-9%	11%	-5%	24%	$ 30,358,450.08
LM1	Leeuwin Metals Ltd	0.135	-4%	-27%	85%	85%	-4%	$ 13,608,861.84
SX2	Southgold Consol	6.47	11%	16%	0%	0%	0%	$ 889,710,601.70
UVA	Uvrelimited	0.092	-8%	-2%	-5%	-26%	3%	$ 5,538,400.09

Focus Minerals (ASX:FML)

Shandong Gold's Focus finally returned to investors' good books, charging higher after nabbing $250 million in cash from Raleigh Finlayson's Genesis Minerals (ASX:GMD) for its ~4Moz Laverton gold project.

It comes over a decade since the project was shuttered during a gold price crunch.

Now, with bullion at record highs, the assets have proven an attractive target for Genesis as it looks for additional feed it can send to the Laverton plant acquired from Dacian Gold across 2023 and 2024.

That opens the potential to mine its Tower Hill project near the Gwalia mine and send the ore to an expanded Leonora mill, a more logical haulage solution.

Focus meanwhile will be zeroing in on the ramp up of its Coolgardie gold operations and shift from a hefty net debt position to net cash.

Dateline Resources (ASX:DTR)

Dateline is up a quite ludicrous 870% to a market cap of $286m over the past month, much of that growth since a shoutout from Donald Trump on his Truth Social platform got investors excited.

DTR owns the 1.1Moz Colosseum gold project, where Trump also highlighted the company's rare earths potential, sitting as it does just a few klicks from the Mountain Pass mine.

One of the key triggers for DTR this week was an updated scoping study based around a gold price estimate lifted from US$2200/oz in a study compiled in October last year to US$2900/oz.

With annual gold production unchanged at 71,000ozpa, that would lift net revenue before tax by 208%from US$398m to US$827m and ups the project's IRR from 31% to 61%.

Before tax discounted cashflow would rise 234% to US$550m.

G50 Corp (ASX:G50)

G50 has surged higher over the past week with little market news to pinpoint for the gains.

The company owns the Golconda project in Arizona, the site of the state's largest zinc-lead mine over 100 years ago.

It's found a high-grade gallium halo at that flagship asset, which has brought the project into focus since China initiated export controls on the critical mineral back in 2023 and led to discussions over the strategic nature of the asset with the US Government.

G50 also holds the White Caps project in Nevada but on Friday announced it had divested non-core interests in the Broken Hills, Caisson, Spitfire and Top Gun projects in Nevada to Renegade Exploration (ASX:RNX) in a nil-consideration deal.

G50 MD Mark Wallace is a non-exec director of RNX.