Gold Digger: After breaking US$3000/oz, gold could still move higher

Metals Focus analysts have weighed up the potential for gold to move even higher after breaking the US$3000/oz barrier.

Uncertainty around the impact of Trump's tariffs is providing fuel for gold prices. Pic: Getty Images

• Gold hit a record of over US$3050/oz this week

• With uncertainty around war and trade, prices could climb even higher

• Besra Gold and North Stawell Minerals among week's biggest gold gainers

Silver longs are at six-month highs and gold is continuing its march beyond records.

And as traders get more defensive than Rahul Dravid on a sharply turning sub-continental deck, expect strength to remain if the latest analysis from Metals Focus is anything to go by.

Its latest market analysis comes at a pivotal point for bullion and its poor cousin silver, with the former at all-time highs of over US$3050/oz following an optimistic response to a US Fed rate pause on Wednesday.

Up 15% YTD, gold fever hasn't quite been matched by silver, but Metals Focus has pointed out that net longs reported by the CME are up to 210Moz, levels not seen since October.

The drivers are familiar to Gold Digger readers – central bank buying, the start of an interest rate cutting cycle and concerns over the general state of the world and its economy.

Volatility is being heightened by the unconventional economic policies of Team Trump over in the US, where April 2 looms as a key date when reciprocal tariffs against its trading partners are expected to be introduced.

"Looking at these drivers in detail, the Trump administration’s economic policies have played an increasingly important role in impacting global sentiment since November. As the months progressed, tariffs on key trading partners and counter-tariffs on the US have raised the spectre of a prolonged trade war," Metals Focus analysts said.

"Financial markets initially expected tariffs to be inflationary and so re-priced accordingly, basis a slower pace of rate cuts by the Fed. These were soon outweighed by concerns over economic growth.

"Importantly, worries about an outright US recession have grown in recent months and have translated into higher demand for defensive assets such as gold."

Gold goes inverse

Historically gold has held a number of inverse relationships, notably to both treasury bond yields and the US dollar.

But its latest break with recent trends has been a sharp twist in the performance of the yellow metal and US equities, until recently the darlings of the investment world.

Gold has turned the tables on the S&P 500. Pic: Metals Focus/Bloomberg

Metals Focus says against the backdrop of trade uncertainty and a weaker US dollar, along with the end of a ceasefire in Gaza, has seen the S&P 500 fall 10% from its February high, with investors moving according to a Bank of America survey from 17% overweight on US stocks to 23% net underweight in March.

"By contrast, gold has continued to attract inflows. This is evidenced by a net rise of 100t in gold ETPs in February, the highest monthly inflow since March 2022. Providing further support to gold, central bank buying has also remained healthy," MF said.

"After another year of exceptionally strong buying in 2024, regular buyers, such as China, India and Poland have reported further gains so far in 2025."

Does this continue?

Metals Focus says against the current landscape another market correction can't be ruled out.

"Against this backdrop, investment inflows into gold are likely to continue among institutional investors seeking portfolio diversifications in the coming weeks."

But its analysts do see gold's investment case becoming less attractive in the back end of the year, on the premise markets will get more clarity on the impact of tariffs.

"Once investment inflows into gold slow, this should start to create downward pressure for the gold price," they said.

"Even so, the Trump administration’s fast-changing policies will see financial market volatility remain high. Strong purchases by the official sector are also projected to persist in the foreseeable future. All these should keep gold prices elevated throughout 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	0.008	14%	0%	-16%	-43%	14%	$ 8,678,940.02
NPM	Newpeak Metals	0.014	-7%	-13%	-18%	57%	27%	$ 4,831,075.97
ASO	Aston Minerals Ltd	0.02	11%	11%	54%	33%	122%	$ 24,606,221.11
MTC	Metalstech Ltd	0.11	0%	-8%	-35%	-35%	-21%	$ 21,729,343.13
GED	Golden Deeps	0.021	-5%	-9%	-45%	-54%	-16%	$ 3,234,469.33
G88	Golden Mile Res Ltd	0.009	0%	-10%	0%	-18%	0%	$ 4,898,230.70
LAT	Latitude 66 Limited	0.065	8%	-2%	-41%	-68%	71%	$ 9,321,045.83
NMR	Native Mineral Res	0.077	17%	20%	267%	285%	97%	$ 59,290,475.78
AQX	Alice Queen Ltd	0.006	-8%	-33%	-25%	0%	-25%	$ 6,881,340.41
SLZ	Sultan Resources Ltd	0.007	0%	-22%	17%	-42%	17%	$ 1,620,289.37
KSN	Kingston Resources	0.083	5%	-1%	2%	8%	17%	$ 69,044,211.85
AMI	Aurelia Metals Ltd	0.2475	8%	15%	41%	71%	46%	$ 431,606,023.20
GIB	Gibb River Diamonds	0.042	0%	17%	-2%	68%	5%	$ 9,009,396.69
KCN	Kingsgate Consolid.	1.47	1%	9%	17%	22%	14%	$ 384,050,021.08
TMX	Terrain Minerals	0.0045	13%	0%	50%	0%	50%	$ 8,014,226.40
BNR	Bulletin Res Ltd	0.042	5%	5%	-2%	-35%	8%	$ 12,331,759.57
NXM	Nexus Minerals Ltd	0.073	30%	11%	62%	55%	62%	$ 35,625,836.68
SKY	SKY Metals Ltd	0.049	0%	-6%	21%	48%	-9%	$ 36,245,861.47
LM8	Lunnonmetalslimited	0.22	10%	-2%	47%	-17%	-12%	$ 46,331,916.54
CST	Castile Resources	0.077	26%	8%	1%	20%	-4%	$ 23,236,892.08
YRL	Yandal Resources	0.15	7%	-25%	25%	67%	-14%	$ 46,385,247.30
FAU	First Au Ltd	0.0025	0%	0%	67%	25%	25%	$ 5,179,983.19
ARL	Ardea Resources Ltd	0.41	-8%	-9%	3%	-43%	24%	$ 82,868,409.73
GWR	GWR Group Ltd	0.092	5%	-3%	14%	-12%	15%	$ 29,551,932.26
IVR	Investigator Res Ltd	0.023	10%	-8%	-39%	-43%	15%	$ 38,133,109.78
GTR	Gti Energy Ltd	0.003	50%	0%	-25%	-60%	-14%	$ 8,996,848.99
IPT	Impact Minerals	0.006	-14%	-36%	-47%	-58%	-36%	$ 18,583,246.55
BNZ	Benzmining	0.39	-3%	-10%	136%	144%	13%	$ 50,386,363.56
MOH	Moho Resources	0.004	-20%	0%	-33%	-33%	-20%	$ 2,923,498.30
BCM	Brazilian Critical	0.008	-11%	0%	-38%	-65%	-11%	$ 9,566,627.29
PUA	Peak Minerals Ltd	0.009	0%	-16%	364%	273%	16%	$ 28,073,212.90
MRZ	Mont Royal Resources	0.041	0%	0%	-21%	-38%	-5%	$ 3,486,221.51
SMS	Starmineralslimited	0.027	-10%	-13%	-41%	-17%	-25%	$ 4,098,779.63
MVL	Marvel Gold Limited	0.012	20%	20%	9%	9%	33%	$ 9,501,697.73
PRX	Prodigy Gold NL	0.002	0%	0%	0%	-44%	0%	$ 6,350,111.10
AAU	Antilles Gold Ltd	0.0045	-10%	-10%	50%	-78%	50%	$ 9,541,692.26
CWX	Carawine Resources	0.099	-6%	-1%	5%	-6%	-1%	$ 24,793,172.15
RND	Rand Mining Ltd	1.65	0%	-3%	-3%	20%	9%	$ 93,845,335.65
CAZ	Cazaly Resources	0.015	15%	-6%	7%	-17%	7%	$ 6,458,241.87
BMR	Ballymore Resources	0.135	17%	13%	-7%	8%	13%	$ 23,858,628.98
DRE	Dreadnought Resources Ltd	0.0155	11%	19%	-3%	-9%	29%	$ 66,547,200.00
ZNC	Zenith Minerals Ltd	0.051	13%	21%	19%	-46%	28%	$ 20,779,512.52
REZ	Resourc & En Grp Ltd	0.022	0%	-19%	-12%	144%	-4%	$ 14,776,060.68
LEX	Lefroy Exploration	0.092	8%	15%	28%	-16%	31%	$ 22,854,652.70
ERM	Emmerson Resources	0.14	17%	27%	180%	175%	82%	$ 82,630,454.27
AM7	Arcadia Minerals	0.02	0%	-13%	-41%	-71%	5%	$ 2,347,668.66
ADT	Adriatic Metals	4.44	-1%	4%	35%	19%	14%	$ 1,372,980,085.12
AS1	Asara Resources Ltd	0.035	6%	13%	119%	289%	84%	$ 37,440,046.83
CYL	Catalyst Metals	4.6	4%	11%	78%	636%	78%	$ 1,039,607,102.40
CHN	Chalice Mining Ltd	1.3825	4%	-6%	0%	25%	25%	$ 566,033,976.54
KAL	Kalgoorliegoldmining	0.063	-2%	-11%	163%	152%	250%	$ 23,492,473.77
MLS	Metals Australia	0.02	0%	-5%	-23%	-13%	-13%	$ 14,574,390.48
ADN	Andromeda Metals Ltd	0.008	14%	14%	14%	-64%	14%	$ 24,001,093.82
MEI	Meteoric Resources	0.0715	8%	4%	-28%	-70%	-16%	$ 170,411,845.87
SRN	Surefire Rescs NL	0.003	0%	-14%	-57%	-73%	-14%	$ 7,248,923.44
WA8	Warriedarresourltd	0.059	31%	18%	2%	20%	34%	$ 61,163,648.58
HMX	Hammer Metals Ltd	0.03	3%	0%	-21%	-19%	-9%	$ 27,520,519.70
WCN	White Cliff Min Ltd	0.018	13%	-5%	-5%	29%	13%	$ 34,118,473.46
AVM	Advance Metals Ltd	0.047	7%	0%	124%	31%	38%	$ 9,749,950.42
ASR	Asra Minerals Ltd	0.004	33%	33%	-27%	-20%	33%	$ 7,119,380.49
ARI	Arika Resources	0.023	5%	-44%	-12%	-8%	-15%	$ 13,303,681.40
CTO	Citigold Corp Ltd	0.004	0%	0%	0%	-11%	0%	$ 12,000,000.00
SMI	Santana Minerals Ltd	0.565	3%	-6%	-20%	38%	16%	$ 426,404,018.25
M2R	Miramar	0.004	33%	0%	-50%	-78%	33%	$ 1,825,387.11
MHC	Manhattan Corp Ltd	0.018	0%	-5%	-10%	-64%	-5%	$ 4,228,180.16
GRL	Godolphin Resources	0.013	8%	-24%	-19%	-59%	-10%	$ 5,027,381.10
SVG	Savannah Goldfields	0.015	0%	-32%	-31%	-41%	-18%	$ 8,982,078.55
EMC	Everest Metals Corp	0.165	3%	0%	38%	109%	22%	$ 38,043,252.12
GUL	Gullewa Limited	0.055	-15%	6%	-15%	0%	-2%	$ 11,991,219.46
CY5	Cygnus Metals Ltd	0.115	10%	-15%	53%	113%	15%	$ 101,907,800.52
G50	G50Corp Ltd	0.155	24%	7%	7%	55%	0%	$ 24,892,637.15
ADV	Ardiden Ltd	0.135	-7%	-13%	0%	-10%	0%	$ 8,752,450.84
AAR	Astral Resources NL	0.155	7%	3%	41%	154%	15%	$ 218,994,494.40
VMC	Venus Metals Cor Ltd	0.11	0%	24%	83%	28%	64%	$ 23,535,441.96
NAE	New Age Exploration	0.004	0%	-20%	0%	0%	14%	$ 11,562,295.10
VKA	Viking Mines Ltd	0.008	-11%	0%	-11%	-27%	0%	$ 11,953,325.88
LCL	LCL Resources Ltd	0.007	-13%	-30%	-36%	-42%	-30%	$ 8,363,688.95
MTH	Mithril Silver Gold	0.39	7%	5%	5%	95%	-3%	$ 58,265,408.80
ADG	Adelong Gold Limited	0.005	0%	-17%	25%	25%	11%	$ 7,686,174.09
RMX	Red Mount Min Ltd	0.0085	6%	6%	-15%	-51%	-6%	$ 4,184,620.16
PRS	Prospech Limited	0.023	-8%	-8%	-39%	-34%	-21%	$ 7,562,995.40
TTM	Titan Minerals	0.415	6%	-16%	-8%	43%	9%	$ 107,937,483.22
AKA	Aureka Limited	0.155	0%	-11%	-98%	-98%	15%	$ 15,877,408.88
AAM	Aumegametals	0.045	7%	-4%	2%	8%	7%	$ 27,789,199.93
KZR	Kalamazoo Resources	0.088	16%	11%	11%	1%	19%	$ 16,960,874.88
BCN	Beacon Minerals	0.027	8%	4%	23%	13%	23%	$ 109,885,468.99
MAU	Magnetic Resources	1.505	-2%	11%	9%	45%	36%	$ 401,475,530.75
BC8	Black Cat Syndicate	0.84	-2%	0%	127%	320%	49%	$ 502,816,225.80
EM2	Eagle Mountain	0.005	-29%	-38%	-87%	-91%	-44%	$ 5,675,186.45
EMR	Emerald Res NL	3.95	-1%	-3%	1%	42%	22%	$ 2,733,308,888.96
BYH	Bryah Resources Ltd	0.004	-20%	0%	-20%	-60%	33%	$ 2,507,202.91
HCH	Hot Chili Ltd	0.685	1%	-11%	-14%	-38%	-2%	$ 103,085,381.32
WAF	West African Res Ltd	2.27	6%	30%	34%	123%	58%	$ 2,621,486,741.20
MEU	Marmota Limited	0.046	2%	-13%	28%	2%	18%	$ 55,380,372.13
NVA	Nova Minerals Ltd	0.3275	6%	-1%	105%	24%	-11%	$ 104,642,660.53
SVL	Silver Mines Limited	0.096	8%	8%	3%	-36%	23%	$ 186,876,416.16
PGD	Peregrine Gold	0.15	30%	7%	0%	-32%	7%	$ 11,919,595.50
ICL	Iceni Gold	0.081	8%	-10%	131%	252%	14%	$ 24,322,952.84
FG1	Flynngold	0.024	9%	-11%	-14%	-39%	-4%	$ 7,066,867.94
WWI	West Wits Mining Ltd	0.019	19%	-5%	12%	36%	36%	$ 49,877,217.74
RML	Resolution Minerals	0.009	-18%	0%	-44%	-63%	-25%	$ 4,651,679.66
AAJ	Aruma Resources Ltd	0.014	27%	33%	-18%	-22%	17%	$ 2,886,756.24
HWK	Hawk Resources.	0.023	5%	-4%	-23%	-48%	5%	$ 6,231,377.33
GMN	Gold Mountain Ltd	0.0025	25%	25%	-17%	-17%	-17%	$ 4,579,223.18
MEG	Megado Minerals Ltd	0.015	25%	15%	-17%	43%	-12%	$ 5,875,565.67
HMG	Hamelingoldlimited	0.078	18%	26%	22%	5%	22%	$ 12,331,800.00
BM8	Battery Age Minerals	0.06	-6%	-21%	-48%	-43%	-43%	$ 7,147,850.82
TBR	Tribune Res Ltd	4.67	-1%	-6%	5%	27%	9%	$ 248,698,684.98
FML	Focus Minerals Ltd	0.21	2%	8%	56%	17%	24%	$ 60,177,315.45
VRC	Volt Resources Ltd	0.0045	13%	50%	13%	-10%	50%	$ 18,117,573.47
ARV	Artemis Resources	0.008	0%	-20%	-33%	-58%	0%	$ 20,228,234.46
HRN	Horizon Gold Ltd	0.42	2%	-8%	24%	45%	-13%	$ 60,108,568.05
CLA	Celsius Resource Ltd	0.007	-13%	-36%	-42%	-50%	-36%	$ 23,052,575.90
QML	Qmines Limited	0.0455	3%	-11%	-52%	-33%	-16%	$ 18,871,726.98
RDN	Raiden Resources Ltd	0.005	-9%	-17%	-87%	-81%	-55%	$ 17,254,457.21
TCG	Turaco Gold Limited	0.35	11%	-3%	19%	112%	37%	$ 311,788,697.40
KCC	Kincora Copper	0.025	0%	-11%	-47%	-19%	-7%	$ 6,025,392.98
GBZ	GBM Rsources Ltd	0.008	0%	0%	0%	-11%	0%	$ 9,368,559.82
DTM	Dart Mining NL	0.005	0%	-17%	-67%	-68%	-44%	$ 3,438,819.57
MKR	Manuka Resources.	0.032	19%	14%	-14%	-58%	14%	$ 25,944,565.41
AUC	Ausgold Limited	0.535	1%	14%	24%	73%	27%	$ 194,355,067.09
ANX	Anax Metals Ltd	0.009	13%	-10%	-55%	-63%	-25%	$ 7,945,268.10
EMU	EMU NL	0.029	-15%	-15%	21%	5%	7%	$ 5,614,440.86
SFM	Santa Fe Minerals	0.041	0%	11%	8%	-9%	32%	$ 2,985,570.35
SSR	SSR Mining Inc.	17.33	9%	7%	103%	189%	59%	$ 61,615,915.20
PNR	Pantoro Limited	0.16	7%	14%	33%	186%	78%	$ 1,086,410,097.47
CMM	Capricorn Metals	8.2	5%	3%	29%	71%	31%	$ 3,536,310,458.90
X64	Ten Sixty Four Ltd	0	-100%	-100%	-100%	-100%	-100%	$ 129,844,903.32
VRL	Verity Resources	0.013	0%	-13%	-57%	-81%	-35%	$ 2,396,427.29
HAW	Hawthorn Resources	0.043	0%	-2%	-23%	-39%	5%	$ 14,405,671.36
BGD	Bartongoldholdings	0.315	0%	2%	29%	13%	29%	$ 70,042,600.64
SVY	Stavely Minerals Ltd	0.017	3%	-19%	-37%	-48%	0%	$ 9,248,715.58
AGC	AGC Ltd	0.195	15%	18%	-17%	171%	26%	$ 46,187,499.96
RGL	Riversgold	0.004	-11%	-20%	-20%	-47%	0%	$ 7,576,706.67
TSO	Tesoro Gold Ltd	0.032	19%	-3%	3%	7%	60%	$ 48,155,835.27
GUE	Global Uranium	0.066	3%	-14%	18%	-34%	10%	$ 19,451,486.60
CPM	Coopermetalslimited	0.038	-5%	-21%	-36%	-71%	-17%	$ 3,055,870.35
MM8	Medallion Metals.	0.19	27%	23%	239%	239%	58%	$ 85,587,816.06
FFM	Firefly Metals Ltd	1.0525	8%	7%	-3%	63%	14%	$ 609,840,275.76
CBY	Canterbury Resources	0.024	14%	-4%	-29%	-27%	9%	$ 4,738,581.50
SLA	Solara Minerals	0.115	-8%	-18%	-64%	-34%	28%	$ 7,248,102.88
SFR	Sandfire Resources	11.48	7%	6%	26%	35%	24%	$ 5,279,696,771.43
SMG	Silvermetalgroupltd	0.06	0%	0%	0%	0%	0%	$ 4,881,135.48
TAM	Tanami Gold NL	0.028	2%	0%	-13%	-15%	-7%	$ 32,902,717.29
NWM	Norwest Minerals	0.01	0%	-26%	-50%	-63%	-29%	$ 4,851,195.10
ALK	Alkane Resources Ltd	0.635	5%	0%	43%	11%	25%	$ 381,491,391.96
BMO	Bastion Minerals	0.0035	-13%	-13%	-42%	-65%	-13%	$ 2,956,536.32
IDA	Indiana Resources	0.077	3%	5%	50%	79%	26%	$ 49,490,399.27
GSM	Golden State Mining	0.01	25%	11%	-9%	0%	25%	$ 2,514,335.67
NSM	Northstaw	0.048	37%	66%	320%	51%	200%	$ 12,815,795.50
GSN	Great Southern	0.024	9%	0%	41%	9%	60%	$ 23,923,302.96
VAU	Vault Minerals Ltd	0.4575	5%	12%	41%	37%	39%	$ 3,163,150,122.63
DEG	De Grey Mining	2.13	5%	4%	59%	79%	21%	$ 5,131,642,037.66
THR	Thor Energy PLC	0.012	9%	-8%	-29%	-50%	-8%	$ 9,923,057.69
CDR	Codrus Minerals Ltd	0.016	-6%	-11%	-27%	-61%	-6%	$ 2,646,200.06
MDI	Middle Island Res	0.017	13%	-11%	-6%	21%	42%	$ 4,684,105.80
WTM	Waratah Minerals Ltd	0.175	9%	-3%	-51%	136%	13%	$ 35,417,812.33
POL	Polymetals Resources	0.825	6%	6%	206%	180%	4%	$ 201,561,856.58
RDS	Redstone Resources	0.0035	17%	17%	0%	-13%	40%	$ 3,238,824.61
NAG	Nagambie Resources	0.017	6%	6%	-19%	21%	-6%	$ 12,852,837.50
BGL	Bellevue Gold Ltd	1.315	4%	10%	3%	-29%	17%	$ 1,726,659,676.15
GBR	Greatbould Resources	0.071	1%	8%	45%	18%	65%	$ 52,377,923.05
KAI	Kairos Minerals Ltd	0.021	17%	-5%	62%	62%	75%	$ 57,880,068.16
KAU	Kaiser Reef	0.17	3%	-3%	13%	36%	6%	$ 44,303,795.20
HRZ	Horizon	0.067	20%	-3%	52%	91%	68%	$ 141,247,250.23
CDT	Castle Minerals	0.002	0%	0%	-33%	-69%	0%	$ 3,855,645.76
RSG	Resolute Mining	0.4475	9%	24%	-38%	21%	13%	$ 947,427,255.79
MXR	Maximus Resources	0.077	12%	15%	141%	146%	33%	$ 33,424,752.21
EVN	Evolution Mining Ltd	6.835	6%	7%	55%	107%	42%	$ 13,686,678,051.20
CXU	Cauldron Energy Ltd	0.01	25%	-17%	-49%	-73%	-17%	$ 16,075,450.70
DLI	Delta Lithium	0.17	0%	-3%	-19%	-46%	0%	$ 125,394,813.60
ALY	Alchemy Resource Ltd	0.007	0%	-13%	0%	-13%	0%	$ 8,246,533.79
NH3	Nh3Cleanenergyltd	0.024	20%	26%	4%	-4%	33%	$ 12,091,305.27
OBM	Ora Banda Mining Ltd	1.03	-2%	7%	63%	329%	58%	$ 2,097,113,326.61
AVW	Avira Resources Ltd	0.008	0%	-11%	-60%	-73%	-60%	$ 1,322,457.70
LCY	Legacy Iron Ore	0.0105	5%	-5%	-16%	-22%	5%	$ 97,620,425.84
PDI	Predictive Disc Ltd	0.3875	14%	19%	36%	68%	68%	$ 966,504,468.80
MAT	Matsa Resources	0.058	4%	7%	53%	107%	66%	$ 43,970,496.48
ZAG	Zuleika Gold Ltd	0.012	-8%	0%	-14%	-33%	-8%	$ 8,902,559.12
GML	Gateway Mining	0.021	0%	-5%	-16%	-16%	0%	$ 8,585,226.20
SBM	St Barbara Limited	0.225	15%	-13%	-24%	36%	0%	$ 243,640,426.73
SBR	Sabre Resources	0.008	14%	-11%	-43%	-53%	-20%	$ 3,143,695.46
STK	Strickland Metals	0.087	2%	28%	-5%	0%	2%	$ 198,667,326.78
CEL	Challenger Gold Ltd	0.063	15%	7%	9%	-21%	34%	$ 102,952,120.54
GG8	Gorilla Gold Mines	0.4	7%	48%	111%	1037%	54%	$ 224,493,542.40
NST	Northern Star	18.25	5%	2%	14%	36%	18%	$ 20,953,918,023.59
OZM	Ozaurum Resources	0.061	-6%	-45%	53%	15%	103%	$ 12,914,881.76
TG1	Techgen Metals Ltd	0.03	3%	-17%	-14%	-6%	-14%	$ 4,759,971.30
XAM	Xanadu Mines Ltd	0.052	0%	-2%	-5%	-7%	6%	$ 99,434,272.91
AQI	Alicanto Min Ltd	0.032	0%	-16%	39%	16%	-14%	$ 27,140,575.23
KTA	Krakatoa Resources	0.009	0%	-10%	-18%	0%	-5%	$ 5,311,206.23
ARN	Aldoro Resources	0.2975	-1%	-16%	267%	281%	-22%	$ 54,110,716.43
WGX	Westgold Resources.	2.975	13%	19%	9%	24%	5%	$ 2,782,173,585.50
MBK	Metal Bank Ltd	0.018	6%	29%	30%	-21%	20%	$ 8,954,261.96
A8G	Australasian Metals	0.075	0%	9%	-32%	6%	-5%	$ 4,341,729.38
TAR	Taruga Minerals	0.008	-11%	-20%	-11%	0%	-20%	$ 5,648,214.28
DTR	Dateline Resources	0.0045	0%	50%	-10%	-68%	29%	$ 10,262,274.48
GOR	Gold Road Res Ltd	2.39	-8%	-8%	44%	59%	17%	$ 2,669,493,858.30
S2R	S2 Resources	0.061	-5%	-10%	-26%	-51%	-9%	$ 27,171,479.58
NES	Nelson Resources.	0.003	0%	0%	0%	-14%	0%	$ 6,515,782.98
TLM	Talisman Mining	0.17	3%	-8%	-23%	0%	-17%	$ 33,897,662.82
BEZ	Besragoldinc	0.054	93%	20%	-30%	-61%	-40%	$ 22,436,403.35
PRU	Perseus Mining Ltd	3.165	1%	9%	21%	58%	23%	$ 4,377,268,647.51
SPQ	Superior Resources	0.006	-14%	20%	-25%	-39%	0%	$ 13,019,182.79
PUR	Pursuit Minerals	0.075	3%	0%	-50%	-67%	-22%	$ 6,192,547.13
RMS	Ramelius Resources	2.18	1%	-17%	0%	35%	5%	$ 2,518,581,524.68
PKO	Peako Limited	0.003	0%	0%	0%	-3%	0%	$ 4,463,225.88
ICG	Inca Minerals Ltd	0.005	-17%	-17%	0%	-17%	0%	$ 5,133,612.67
A1G	African Gold Ltd.	0.07	15%	-9%	71%	135%	27%	$ 26,337,094.38
NMG	New Murchison Gold	0.016	7%	45%	113%	191%	78%	$ 132,632,480.80
GNM	Great Northern	0.014	-7%	-33%	17%	-7%	0%	$ 2,164,807.08
KRM	Kingsrose Mining Ltd	0.0355	1%	1%	4%	15%	1%	$ 28,634,007.72
BTR	Brightstar Resources	0.021	0%	0%	17%	31%	5%	$ 228,123,311.40
RRL	Regis Resources	3.675	9%	20%	82%	103%	44%	$ 2,749,938,951.76
M24	Mamba Exploration	0.014	0%	0%	17%	-44%	17%	$ 4,132,318.54
TRM	Truscott Mining Corp	0.073	0%	1%	4%	56%	-6%	$ 13,975,744.88
TNC	True North Copper	0.355	6%	-3%	-90%	-95%	-88%	$ 46,560,435.92
MOM	Moab Minerals Ltd	0.001	0%	-50%	-75%	-80%	-50%	$ 3,467,332.06
KNB	Koonenberrygold	0.037	32%	12%	311%	64%	208%	$ 33,874,349.18
AWJ	Auric Mining	0.275	8%	-8%	-13%	83%	-19%	$ 40,962,177.03
ENR	Encounter Resources	0.2325	3%	-1%	-45%	-5%	-28%	$ 117,216,194.97
SNG	Siren Gold	0.055	1%	0%	-24%	0%	-15%	$ 11,824,412.89
STN	Saturn Metals	0.27	10%	15%	-4%	46%	32%	$ 84,943,343.10
USL	Unico Silver Limited	0.2325	19%	8%	8%	94%	19%	$ 102,916,782.43
PNM	Pacific Nickel Mines	0.024	0%	0%	0%	-35%	0%	$ 10,103,834.52
AYM	Australia United Min	0.002	-33%	-33%	0%	0%	-50%	$ 3,685,154.97
ANL	Amani Gold Ltd	0	-100%	-100%	-100%	-100%	-100%	$ 21,449,587.12
HAV	Havilah Resources	0.195	3%	-7%	8%	26%	-13%	$ 64,458,696.24
SPR	Spartan Resources	1.745	16%	33%	26%	200%	24%	$ 2,228,810,112.48
PNT	Panthermetalsltd	0.015	-6%	7%	-21%	-44%	36%	$ 4,814,472.77
MEK	Meeka Metals Limited	0.1375	6%	2%	141%	272%	79%	$ 364,046,812.15
GMD	Genesis Minerals	3.715	15%	17%	76%	98%	50%	$ 4,066,893,828.00
PGO	Pacgold	0.073	20%	6%	-39%	-48%	-3%	$ 9,464,712.34
FEG	Far East Gold	0.15	-6%	-14%	-12%	20%	-17%	$ 58,724,392.48
MI6	Minerals260Limited	0.13	0%	0%	0%	-21%	0%	$ 30,420,000.00
IGO	IGO Limited	4.275	11%	-7%	-15%	-44%	-10%	$ 3,278,969,630.29
GAL	Galileo Mining Ltd	0.14	4%	-3%	-13%	-43%	12%	$ 27,667,489.78
RXL	Rox Resources	0.335	5%	20%	148%	111%	68%	$ 197,562,088.10
PTN	Patronus Resources	0.06	0%	-3%	18%	-8%	22%	$ 98,243,868.24
CLZ	Classic Min Ltd	0.001	0%	0%	0%	-93%	0%	$ 1,544,025.56
TGM	Theta Gold Mines Ltd	0.155	0%	-11%	-9%	-6%	-14%	$ 127,414,293.90
FAL	Falconmetalsltd	0.135	13%	4%	-29%	23%	17%	$ 26,550,000.00
SPD	Southernpalladium	0.42	-1%	-7%	12%	27%	-30%	$ 38,199,000.00
ORN	Orion Minerals Ltd	0.016	0%	14%	-6%	23%	7%	$ 109,607,165.09
TMB	Tambourahmetals	0.032	14%	16%	-11%	-57%	52%	$ 3,762,881.47
TMS	Tennant Minerals Ltd	0.013	-7%	8%	-19%	-55%	44%	$ 14,338,356.23
AZY	Antipa Minerals Ltd	0.44	4%	16%	100%	267%	69%	$ 244,869,675.60
PXX	Polarx Limited	0.008	14%	0%	-11%	-38%	23%	$ 19,004,007.82
TRE	Toubani Res Ltd	0.18	20%	16%	-36%	57%	6%	$ 41,212,792.62
AUN	Aurumin	0.064	-2%	0%	56%	88%	-3%	$ 32,126,909.36
GPR	Geopacific Resources	0.023	15%	5%	-5%	32%	15%	$ 71,605,469.84
FXG	Felix Gold Limited	0.165	14%	18%	92%	489%	96%	$ 55,914,085.62
ILT	Iltani Resources Lim	0.24	9%	4%	0%	85%	17%	$ 10,648,235.04
BRX	Belararoxlimited	0.125	33%	-19%	-48%	-47%	-29%	$ 17,275,693.56
TM1	Terra Metals Limited	0.02	-5%	-33%	-46%	-60%	-29%	$ 8,152,701.24
TOR	Torque Met	0.105	6%	5%	22%	-30%	98%	$ 28,314,712.23
ARD	Argent Minerals	0.024	14%	9%	41%	140%	41%	$ 36,141,012.00
LM1	Leeuwin Metals Ltd	0.105	-13%	-16%	24%	22%	-25%	$ 6,896,038.16
SX2	Southgold Consol	4.5	20%	25%	0%	0%	0%	$ 514,416,567.00

Standout gold stocks of the week

Besra Gold (ASX:BEZ)

The $21m capped Malaysian gold developer has run higher after responding to a price query from the ASX and aware letter.

BEZ, which holds around 3Moz of gold resources at its Bau gold project in Sarawak, was responding to a cease trade order related to filing dates for its financials in Canada, which are shorter for non-venture listings (a category that it's placed in by virtue of its ASX listing).

Its 98.5%-owned Bau project has a very high confidence measured resource of 3.4Mt at 1.5g/t gold, or 166,000oz of contained gold, a high confidence indicated resource of 16.4Mt at 1.57g/t gold, or 824,800oz contained gold, and an inferred resource of 47.9Mt at 1.29g/t, or ~1.99Moz contained gold.

Bau is defined by a gold-bearing mineralisation system covering an 8km by 15km corridor.

The company’s planned Jugan 50tpd pilot plant will trial various batch processing combinations in order to develop optimal protocols for processing the Jugan refractory ore to produce a concentrate for further processing, including doré.

These trial results will form an important component of the overall definitive feasibility study for future commercialisation.

BEZ also has the required licensing and capability to increase the processing throughput to up to 200tpd.

North Stawell Minerals (ASX:NSM)

NSM followed in the footsteps of other recent bolters like New Murchison Gold (ASX:NMG) and Trek Metals (ASX:TKM), reporting visible gold from drilling at its Darlington project in Victoria's Stawell corridor, home to the operating Stawell gold mine.

"It’s highly encouraging to drill through a gold-mineralised structure on our way to the planned target. Visible gold is not as common in mineralisation around Stawell as it is elsewhere in Victoria. The intercept – a siliceous, stock-worked breccia – occurs in an unexpected position to the west of the historic Darlington Mine trend," NSM exec director Campbell Olsen said.

"However, the alteration and mineralisation appear to have geological similarities to the mine spoils at the historic mine, so an association between the two areas is possible.

"The significance of the intercept will only become clear when laboratory results are returned, but visible gold in this structure adds to the geological potential of the Darlington target, 6km north of the operating mine at Stawell.”

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

Originally published as Gold Digger: After breaking US$3000/oz, gold could still move higher