Gold Digger: The factors driving gold higher will continue to grow – Sprott

Think gold is all maxed out? Sprott says the factors behind its rapid ascent as a potential reserve currency will keep growing.

Gold could have more steps to climb. Pic: Getty Images

• Factors behind gold's rise continue to grow: Sprott

• Bullion has big opportunity as investors lose confidence in stability of US Treasuries

• If Donald Trump tries to interfere with Fed independence it could get even better for gold

Sprott, one of the world's top highest profile resource focused asset managers, continues to see blue sky for gold as bullion starts clawing 'reserve currency' share from the US dollar.

That's the view of market strategist Paul Wong, who says the world is "rapidly deglobalising" and breaking into a multipolar world "with an unknown outcome".

Central banks have ponied up for more than 1000t of gold in each of the past three years, and Wong suggests this is likely to continue in the wake of trade wars, rising conflict and an increasingly unreliable US Government, which stung its trading partners with extraordinary tariffs last month and is negotiating piecemeal to reconfigure the terms on which they deal with the world's biggest economy.

Sprott says US Treasuries, typically the safest investment class going back years, are now moving with the volatility of a risk asset.

"A multi-asset reserve system may be necessary to support the new global order," Wong said.

"This system likely requires an agreed-upon and accepted neutral reserve asset to act as both the “glue” and valuation benchmark for a multi-asset reserve system.

"For now, we see gold as the only neutral reserve asset of sufficient size, liquidity and acceptability. Gold's unique properties make it an ideal candidate for this role.

"Gold has a large and liquid market, making it accessible for central banks and financial institutions. Gold is recognised and trusted as a store of value, independent of any single nation's policies or economic conditions. Unlike fiat currencies, gold is not subject to the monetary policies of any one country, making it a politically and monetarily neutral asset."

Sprott sees higher long-term structural demand from central banks, ongoing geopolitical uncertainty and inflation and currency devaluation as continuing catalysts for higher gold prices, which briefly touched all time highs in April of US$3500/oz and currently roll at ~US$3220/oz.

In-credibility

Threats to undermine the independence of the US Fed are also boosting gold's case, Wong thinks. One of the big drivers behind gold's April spike was a call from US President Donald Trump for Jerome Powell, the Fed Chair, to lower interest rates (Trump called him a "loser", of course). Trumps doubled back after the market responded to those comments by setting the S&P 500 on fire.

"Sovereign currencies and bonds rest on the foundation of the rule of law, strong governance and independent institutions," Wong said.

"Eroding the Fed's autonomy would attack all three and risk catalysing a fragile backdrop into a more profound bond market crisis. In such an event, gold would likely soar, as the world’s otherwise reliable asset (U.S. Treasuries) and the world’s currency reserve (U.S. dollar) would likely face a potentially irrecoverable loss of credibility and significant loss of value. Even more damaging cascading risk events are possible."

On silver, which copped a ~4.3% towelling in April, Wong continues to see positives, saying expects to see it reassert its monetary value after a 'forced liquidation' that has it looking closer linked to copper (silver has become increasingly 'industrial' in its uses due to rising solar PV demand) than gold.

"Over the medium term, silver’s correlation to gold remains unchanged, meaning that we believe silver’s monetary value will reassert itself in time, as it has over the decades ... we continue to see $35 per ounce as a critical level for silver, and we would expect an impulsive move higher on a successful breakout," Wong said.

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	0.0085	6%	6%	6%	-26%	21%	$ 9,221,373.78
NPM	Newpeak Metals	0.015	15%	25%	15%	-20%	36%	$ 2,898,645.58
ASO	Aston Minerals Ltd	0.018	-5%	-5%	80%	50%	100%	$ 23,311,156.84
MTC	Metalstech Ltd	0.14	17%	27%	8%	-44%	0%	$ 28,177,419.51
GED	Golden Deeps	0.018	0%	0%	-31%	-62%	-28%	$ 3,188,262.62
G88	Golden Mile Res Ltd	0.014	17%	40%	27%	17%	56%	$ 7,075,222.12
LAT	Latitude 66 Limited	0.043	-9%	-22%	-52%	-79%	13%	$ 6,453,031.73
NMR	Native Mineral Res	0.16	-11%	14%	310%	742%	310%	$ 141,334,324.64
AQX	Alice Queen Ltd	0.006	0%	0%	-25%	-25%	-25%	$ 6,881,340.41
SLZ	Sultan Resources Ltd	0.0065	8%	8%	-28%	-41%	8%	$ 1,388,819.46
KSN	Kingston Resources	0.092	-1%	3%	-1%	23%	30%	$ 71,510,076.56
AMI	Aurelia Metals Ltd	0.315	0%	31%	80%	66%	85%	$ 490,846,065.60
GIB	Gibb River Diamonds	0.03	-19%	-9%	-12%	20%	-25%	$ 6,435,283.35
KCN	Kingsgate Consolid.	1.94	-6%	27%	60%	8%	51%	$ 484,573,180.96
TMX	Terrain Minerals	0.003	0%	0%	-25%	-14%	0%	$ 6,745,669.80
BNR	Bulletin Res Ltd	0.0745	-3%	16%	80%	49%	91%	$ 22,020,999.23
NXM	Nexus Minerals Ltd	0.07	-7%	-7%	30%	15%	56%	$ 41,659,413.30
SKY	SKY Metals Ltd	0.045	-6%	2%	-15%	18%	-17%	$ 31,981,642.47
LM8	Lunnonmetalslimited	0.235	7%	0%	7%	-16%	-6%	$ 50,744,480.02
CST	Castile Resources	0.07	-7%	-9%	-15%	-24%	-13%	$ 21,402,400.60
YRL	Yandal Resources	0.18	-3%	44%	-39%	57%	3%	$ 55,662,296.76
FAU	First Au Ltd	0.003	0%	50%	50%	-40%	50%	$ 6,215,979.83
ARL	Ardea Resources Ltd	0.41	-1%	-1%	3%	-36%	24%	$ 86,269,295.15
GWR	GWR Group Ltd	0.1	-9%	14%	15%	-9%	25%	$ 33,978,698.78
IVR	Investigator Res Ltd	0.022	-4%	-8%	-44%	-58%	10%	$ 33,376,971.05
GTR	Gti Energy Ltd	0.004	33%	33%	14%	-33%	14%	$ 8,996,848.99
IPT	Impact Minerals	0.006	0%	20%	-47%	-71%	-36%	$ 23,096,979.69
BNZ	Benzmining	0.355	-7%	-15%	61%	173%	3%	$ 58,045,249.44
MOH	Moho Resources	0.007	75%	133%	17%	40%	40%	$ 3,654,372.87
BCM	Brazilian Critical	0.01	25%	11%	-17%	-60%	11%	$ 9,566,627.29
PUA	Peak Minerals Ltd	0.016	23%	45%	175%	298%	106%	$ 53,339,104.51
MRZ	Mont Royal Resources	0.041	0%	0%	0%	-25%	-5%	$ 3,486,221.51
SMS	Starmineralslimited	0.025	0%	0%	-38%	-11%	-31%	$ 3,795,166.33
MVL	Marvel Gold Limited	0.014	0%	27%	27%	40%	56%	$ 15,116,337.31
PRX	Prodigy Gold NL	0.002	0%	0%	-20%	-25%	0%	$ 6,350,111.10
AAU	Antilles Gold Ltd	0.004	0%	0%	0%	-60%	33%	$ 8,505,470.73
CWX	Carawine Resources	0.1	3%	4%	-13%	0%	0%	$ 23,612,544.90
RND	Rand Mining Ltd	1.855	-3%	1%	-14%	18%	22%	$ 105,504,907.66
CAZ	Cazaly Resources	0.015	0%	15%	15%	-12%	7%	$ 6,919,544.87
BMR	Ballymore Resources	0.16	0%	52%	19%	3%	33%	$ 30,044,199.45
DRE	Dreadnought Resources Ltd	0.013	-7%	8%	-13%	-28%	8%	$ 66,033,500.00
ZNC	Zenith Minerals Ltd	0.046	2%	-15%	10%	-39%	15%	$ 18,742,305.41
REZ	Resourc & En Grp Ltd	0.015	-25%	-40%	-40%	15%	-35%	$ 10,746,225.95
LEX	Lefroy Exploration	0.077	1%	3%	3%	-21%	10%	$ 19,128,350.63
ERM	Emmerson Resources	0.13	-13%	-4%	113%	145%	69%	$ 82,630,454.27
AM7	Arcadia Minerals	0.02	11%	18%	-33%	-69%	5%	$ 2,112,901.79
ADT	Adriatic Metals	3.64	-7%	-15%	-15%	-21%	-7%	$ 1,136,627,906.70
AS1	Asara Resources Ltd	0.043	-9%	-22%	115%	258%	126%	$ 47,350,647.46
CYL	Catalyst Metals	6.84	8%	6%	158%	724%	165%	$ 1,481,503,871.76
CHN	Chalice Mining Ltd	1.135	3%	8%	-18%	-28%	3%	$ 398,752,457.70
KAL	Kalgoorliegoldmining	0.041	-9%	-27%	105%	46%	128%	$ 15,639,949.26
MLS	Metals Australia	0.018	-8%	-10%	-31%	-14%	-22%	$ 13,481,311.19
ADN	Andromeda Metals Ltd	0.012	-29%	20%	71%	-29%	71%	$ 48,002,187.65
MEI	Meteoric Resources	0.11	16%	24%	10%	-45%	29%	$ 245,370,592.11
SRN	Surefire Rescs NL	0.003	0%	0%	0%	-70%	-14%	$ 7,459,336.17
WA8	Warriedarresourltd	0.11	0%	57%	162%	83%	150%	$ 95,688,200.90
HMX	Hammer Metals Ltd	0.032	-9%	52%	-18%	-20%	-3%	$ 29,296,037.10
WCN	White Cliff Min Ltd	0.029	-3%	71%	71%	93%	81%	$ 56,224,351.69
AVM	Advance Metals Ltd	0.041	-11%	11%	24%	59%	21%	$ 11,131,463.03
ASR	Asra Minerals Ltd	0.002	0%	-33%	-43%	-67%	-33%	$ 6,765,117.07
ARI	Arika Resources	0.029	-9%	0%	26%	16%	7%	$ 23,417,867.82
CTO	Citigold Corp Ltd	0.004	0%	0%	0%	-43%	0%	$ 12,000,000.00
SMI	Santana Minerals Ltd	0.54	-6%	5%	8%	47%	11%	$ 379,427,304.38
M2R	Miramar	0.003	0%	0%	-50%	-70%	0%	$ 2,990,469.86
MHC	Manhattan Corp Ltd	0.022	22%	29%	10%	-47%	16%	$ 5,167,775.76
GRL	Godolphin Resources	0.009	-10%	0%	-40%	-68%	-38%	$ 4,488,733.12
SVG	Savannah Goldfields	0.022	-8%	38%	20%	-21%	20%	$ 19,133,628.18
EMC	Everest Metals Corp	0.15	0%	-6%	15%	11%	11%	$ 32,499,031.98
GUL	Gullewa Limited	0.07	-16%	-26%	8%	27%	25%	$ 15,261,552.04
CY5	Cygnus Metals Ltd	0.072	-15%	-16%	-37%	-11%	-28%	$ 62,865,343.65
G50	G50Corp Ltd	0.11	10%	5%	-39%	-45%	-29%	$ 17,665,742.49
ADV	Ardiden Ltd	0.145	4%	4%	4%	-9%	7%	$ 9,377,625.90
AAR	Astral Resources NL	0.15	-6%	-12%	11%	90%	11%	$ 205,527,077.11
VMC	Venus Metals Cor Ltd	0.105	-5%	5%	30%	28%	57%	$ 19,416,739.62
NAE	New Age Exploration	0.004	-11%	0%	-11%	14%	14%	$ 10,637,595.64
VKA	Viking Mines Ltd	0.0075	7%	7%	-32%	-25%	-6%	$ 9,407,641.24
LCL	LCL Resources Ltd	0.008	14%	33%	-20%	-27%	-20%	$ 8,363,688.95
MTH	Mithril Silver Gold	0.34	-8%	-1%	-20%	70%	-15%	$ 51,017,232.70
ADG	Adelong Gold Limited	0.007	17%	40%	40%	75%	56%	$ 10,481,146.49
RMX	Red Mount Min Ltd	0.008	14%	0%	-20%	-47%	-11%	$ 3,719,662.37
PRS	Prospech Limited	0.024	-11%	0%	-23%	-48%	-17%	$ 8,220,647.18
TTM	Titan Minerals	0.375	-9%	1%	-9%	50%	-1%	$ 93,854,054.16
AKA	Aureka Limited	0.14	27%	-7%	41%	-99%	4%	$ 12,292,187.52
AAM	Aumegametals	0.033	-11%	-18%	-21%	-61%	-21%	$ 19,935,730.39
KZR	Kalamazoo Resources	0.091	1%	7%	7%	-17%	23%	$ 18,867,842.46
BCN	Beacon Minerals	0.027	-4%	0%	23%	4%	23%	$ 118,339,072.38
MAU	Magnetic Resources	1.485	-2%	1%	27%	44%	34%	$ 394,463,150.13
BC8	Black Cat Syndicate	0.82	-18%	-20%	59%	148%	45%	$ 565,889,982.40
EM2	Eagle Mountain	0.006	20%	0%	-82%	-91%	-33%	$ 6,242,705.09
EMR	Emerald Res NL	4.2	-9%	0%	21%	14%	29%	$ 2,675,688,891.26
BYH	Bryah Resources Ltd	0.004	-20%	-20%	0%	-50%	33%	$ 3,479,814.09
HCH	Hot Chili Ltd	0.5	0%	-2%	-38%	-54%	-29%	$ 75,040,093.76
WAF	West African Res Ltd	2.27	-10%	-3%	57%	55%	58%	$ 2,507,758,437.80
MEU	Marmota Limited	0.047	15%	24%	18%	0%	21%	$ 53,023,760.55
NVA	Nova Minerals Ltd	0.325	-2%	-4%	55%	35%	-12%	$ 106,589,147.61
SVL	Silver Mines Limited	0.09	-10%	-10%	-14%	-55%	15%	$ 163,739,336.06
PGD	Peregrine Gold	0.145	-3%	-28%	7%	-42%	4%	$ 12,302,922.45
ICL	Iceni Gold	0.058	0%	4%	26%	-33%	-18%	$ 17,297,586.82
FG1	Flynngold	0.024	-4%	0%	-27%	-11%	-4%	$ 9,782,911.75
WWI	West Wits Mining Ltd	0.021	5%	11%	62%	50%	50%	$ 52,502,334.46
RML	Resolution Minerals	0.012	20%	71%	0%	-25%	0%	$ 4,732,081.70
AAJ	Aruma Resources Ltd	0.01	11%	-9%	-23%	-33%	-17%	$ 3,053,299.85
HWK	Hawk Resources.	0.018	0%	-10%	-40%	-49%	-18%	$ 4,876,730.08
GMN	Gold Mountain Ltd	0.002	0%	0%	0%	-50%	-33%	$ 9,591,959.88
MEG	Megado Minerals Ltd	0.012	9%	9%	0%	15%	-29%	$ 5,036,199.14
HMG	Hamelingoldlimited	0.09	-9%	29%	-5%	27%	41%	$ 17,718,750.00
BM8	Battery Age Minerals	0.055	4%	10%	-42%	-48%	-48%	$ 6,825,942.09
TBR	Tribune Res Ltd	4.96	-3%	-1%	-6%	25%	16%	$ 252,371,450.37
FML	Focus Minerals Ltd	0.235	7%	2%	38%	62%	38%	$ 68,774,074.80
VRC	Volt Resources Ltd	0.005	0%	0%	25%	0%	67%	$ 23,423,889.92
ARV	Artemis Resources	0.007	0%	-13%	-42%	-53%	-13%	$ 17,699,705.16
HRN	Horizon Gold Ltd	0.525	7%	17%	12%	75%	9%	$ 75,316,759.96
CLA	Celsius Resource Ltd	0.0065	-7%	0%	-46%	-35%	-41%	$ 20,352,998.40
QML	Qmines Limited	0.037	-4%	-10%	-41%	-55%	-31%	$ 16,298,309.67
RDN	Raiden Resources Ltd	0.004	-20%	0%	-84%	-92%	-64%	$ 13,803,565.77
TCG	Turaco Gold Limited	0.395	-12%	-12%	30%	72%	55%	$ 360,952,584.40
KCC	Kincora Copper	0.032	-3%	0%	-14%	-26%	19%	$ 7,815,689.21
GBZ	GBM Rsources Ltd	0.009	0%	13%	29%	-25%	13%	$ 10,539,629.80
DTM	Dart Mining NL	0.004	-20%	-11%	-64%	-84%	-56%	$ 4,792,222.31
MKR	Manuka Resources.	0.031	-11%	7%	-24%	-48%	11%	$ 28,376,868.42
AUC	Ausgold Limited	0.61	-4%	11%	42%	126%	45%	$ 214,168,881.00
ANX	Anax Metals Ltd	0.008	0%	33%	-27%	-85%	-33%	$ 7,945,268.10
EMU	EMU NL	0.024	14%	14%	-4%	-18%	-11%	$ 5,069,963.23
SFM	Santa Fe Minerals	0.037	0%	-3%	23%	-8%	19%	$ 2,694,295.19
PNR	Pantoro Gold Limited	3.21	-3%	18%	91%	133%	110%	$ 1,148,306,955.25
CMM	Capricorn Metals	8.42	-13%	-12%	35%	78%	34%	$ 3,616,672,861.69
VRL	Verity Resources	0.025	4%	127%	28%	-68%	28%	$ 6,910,669.50
HAW	Hawthorn Resources	0.055	-10%	34%	4%	-18%	34%	$ 18,425,858.72
BGD	Bartongoldholdings	0.71	26%	69%	173%	129%	190%	$ 141,206,416.67
SVY	Stavely Minerals Ltd	0.012	0%	-14%	-59%	-67%	-29%	$ 6,528,505.12
AGC	AGC Ltd	0.15	-3%	-3%	-30%	-39%	-3%	$ 41,055,555.52
RGL	Riversgold	0.0045	-10%	13%	50%	-36%	13%	$ 6,734,850.37
TSO	Tesoro Gold Ltd	0.028	4%	0%	22%	-28%	40%	$ 52,427,723.58
GUE	Global Uranium	0.058	-8%	2%	2%	-45%	-3%	$ 26,960,738.88
CPM	Coopermetalslimited	0.04	-2%	14%	-13%	-71%	-13%	$ 2,899,159.05
MM8	Medallion Metals.	0.275	8%	10%	227%	409%	129%	$ 114,902,560.80
FFM	Firefly Metals Ltd	0.94	8%	15%	-7%	10%	2%	$ 522,745,203.89
CBY	Canterbury Resources	0.019	-5%	-14%	-27%	-68%	-14%	$ 3,846,377.02
SLA	Solara Minerals	0.13	18%	4%	-41%	-55%	44%	$ 6,378,330.53
SFR	Sandfire Resources	10.73	4%	12%	6%	9%	16%	$ 4,916,659,620.60
TAM	Tanami Gold NL	0.036	-3%	13%	24%	6%	20%	$ 42,303,493.66
NWM	Norwest Minerals	0.01	-23%	30%	-35%	-71%	-17%	$ 4,851,195.10
ALK	Alkane Resources Ltd	0.72	-11%	-2%	47%	21%	41%	$ 429,934,743.32
BMO	Bastion Minerals	0.003	0%	0%	-50%	-57%	-25%	$ 2,710,882.69
IDA	Indiana Resources	0.079	1%	-1%	35%	79%	30%	$ 49,490,399.27
GSM	Golden State Mining	0.009	13%	29%	-10%	-25%	13%	$ 2,234,965.04
NSM	Northstaw	0.04	-7%	3%	186%	36%	150%	$ 10,947,060.00
GSN	Great Southern	0.022	-4%	0%	38%	16%	47%	$ 21,929,694.38
VAU	Vault Minerals Ltd	0.42	-13%	-7%	27%	-11%	27%	$ 2,823,026,453.53
DEG	De Grey Mining	2.46	0%	13%	71%	102%	39%	$ 5,915,063,112.00
THR	Thor Energy PLC	0.01	-9%	-9%	-29%	-41%	-23%	$ 7,818,688.19
CDR	Codrus Minerals Ltd	0.038	19%	138%	111%	-16%	124%	$ 6,284,725.15
MDI	Middle Island Res	0.018	-14%	-5%	13%	13%	50%	$ 5,417,772.97
WTM	Waratah Minerals Ltd	0.32	5%	88%	21%	205%	106%	$ 71,068,958.10
POL	Polymetals Resources	0.83	-8%	-1%	12%	168%	4%	$ 195,514,986.45
RDS	Redstone Resources	0.006	20%	71%	100%	50%	140%	$ 5,552,270.76
NAG	Nagambie Resources	0.019	-7%	-10%	6%	90%	6%	$ 15,262,744.54
BGL	Bellevue Gold Ltd	0.86	-11%	-4%	-30%	-53%	-24%	$ 1,225,350,668.81
GBR	Greatbould Resources	0.068	-4%	-17%	66%	5%	58%	$ 49,434,636.94
KAI	Kairos Minerals Ltd	0.028	33%	40%	87%	115%	133%	$ 68,403,716.91
KAU	Kaiser Reef	0.165	-11%	-8%	-6%	10%	3%	$ 55,379,744.00
HRZ	Horizon	0.051	-12%	-24%	21%	-4%	28%	$ 107,368,112.43
CDT	Castle Minerals	0.085	42%	44%	42%	-53%	42%	$ 9,512,784.74
RSG	Resolute Mining	0.58	-4%	27%	44%	27%	47%	$ 1,170,977,507.15
EVN	Evolution Mining Ltd	7.87	-9%	-4%	70%	105%	64%	$ 15,218,076,721.60
CXU	Cauldron Energy Ltd	0.008	-11%	0%	-47%	-80%	-33%	$ 11,691,236.87
DLI	Delta Lithium	0.205	-5%	41%	0%	-39%	21%	$ 143,308,358.40
ALY	Alchemy Resource Ltd	0.0055	-8%	-8%	-21%	-31%	-21%	$ 7,068,457.54
NH3	Nh3Cleanenergyltd	0.027	8%	8%	23%	35%	50%	$ 14,679,724.41
OBM	Ora Banda Mining Ltd	0.98	-16%	-13%	38%	221%	51%	$ 1,780,130,171.30
AVW	Avira Resources Ltd	0.008	14%	33%	-60%	-60%	-60%	$ 1,281,789.10
LCY	Legacy Iron Ore	0.009	13%	13%	-28%	-42%	-10%	$ 87,858,383.26
PDI	Predictive Disc Ltd	0.38	0%	0%	58%	90%	65%	$ 930,220,952.41
MAT	Matsa Resources	0.07	8%	21%	40%	133%	100%	$ 49,108,753.89
ZAG	Zuleika Gold Ltd	0.012	-14%	9%	-29%	-29%	-8%	$ 8,902,559.12
GML	Gateway Mining	0.028	-3%	-7%	8%	56%	33%	$ 11,038,147.97
SBM	St Barbara Limited	0.29	-9%	23%	-12%	9%	29%	$ 297,782,743.78
SBR	Sabre Resources	0.008	0%	33%	-30%	-58%	-20%	$ 3,155,695.46
STK	Strickland Metals	0.115	17%	26%	44%	21%	35%	$ 248,859,577.67
CEL	Challenger Gold Ltd	0.076	-6%	19%	62%	9%	62%	$ 128,478,698.36
GG8	Gorilla Gold Mines	0.495	-9%	13%	98%	1073%	90%	$ 294,772,030.51
NST	Northern Star	18.53	-7%	-15%	17%	27%	20%	$ 25,805,265,070.64
OZM	Ozaurum Resources	0.078	-4%	-26%	144%	30%	160%	$ 16,717,136.73
TG1	Techgen Metals Ltd	0.023	10%	-15%	-18%	-54%	-34%	$ 4,125,308.46
XAM	Xanadu Mines Ltd	0.051	0%	-12%	2%	-27%	4%	$ 97,522,075.36
AQI	Alicanto Min Ltd	0.029	-3%	-3%	-12%	58%	-22%	$ 23,748,003.33
KTA	Krakatoa Resources	0.009	-10%	-10%	-18%	-40%	-5%	$ 5,581,206.23
ARN	Aldoro Resources	0.32	-17%	-38%	264%	385%	-16%	$ 53,388,655.50
WGX	Westgold Resources.	2.55	-13%	-17%	-6%	21%	-10%	$ 2,386,067,515.70
MBK	Metal Bank Ltd	0.01	-9%	-17%	-50%	-49%	-33%	$ 5,969,507.98
A8G	Australasian Metals	0.069	0%	0%	-12%	-3%	-13%	$ 3,994,391.03
TAR	Taruga Minerals	0.009	-10%	0%	-18%	0%	-10%	$ 6,354,241.07
DTR	Dateline Resources	0.039	-3%	550%	1014%	200%	1014%	$ 88,498,195.84
GOR	Gold Road Res Ltd	3.24	-2%	4%	87%	109%	58%	$ 3,476,476,992.00
S2R	S2 Resources	0.091	-6%	-9%	28%	-24%	36%	$ 44,380,083.31
NES	Nelson Resources.	0.003	0%	0%	50%	0%	0%	$ 4,343,855.32
TLM	Talisman Mining	0.155	-6%	0%	-28%	-45%	-24%	$ 30,131,255.84
BEZ	Besragoldinc	0.043	2%	-2%	-37%	-59%	-52%	$ 17,866,024.89
PRU	Perseus Mining Ltd	3.36	-7%	-3%	33%	45%	31%	$ 4,423,944,026.52
SPQ	Superior Resources	0.0045	13%	-10%	-36%	-50%	-25%	$ 10,669,422.26
PUR	Pursuit Minerals	0.044	10%	2%	-71%	-78%	-54%	$ 4,188,826.45
RMS	Ramelius Resources	2.5	-13%	-6%	26%	25%	21%	$ 2,793,056,023.28
PKO	Peako Limited	0.0025	0%	-17%	25%	-35%	-17%	$ 3,719,354.90
ICG	Inca Minerals Ltd	0.005	-9%	0%	0%	-17%	0%	$ 7,881,950.31
A1G	African Gold Ltd.	0.1175	-13%	-10%	87%	370%	114%	$ 55,202,279.99
NMG	New Murchison Gold	0.015	-6%	-12%	67%	233%	67%	$ 147,762,751.61
GNM	Great Northern	0.016	14%	-6%	33%	60%	14%	$ 2,474,065.23
KRM	Kingsrose Mining Ltd	0.031	-3%	-6%	-16%	-26%	-11%	$ 24,112,848.61
BTR	Brightstar Resources	0.69	10%	31%	25%	62%	38%	$ 290,635,145.28
RRL	Regis Resources	4.45	-8%	-1%	79%	116%	75%	$ 3,233,444,701.52
M24	Mamba Exploration	0.012	0%	9%	0%	-40%	0%	$ 4,132,318.54
TRM	Truscott Mining Corp	0.069	15%	15%	15%	10%	-12%	$ 13,784,296.32
TNC	True North Copper	0.205	37%	3%	-93%	-97%	-93%	$ 23,280,217.96
MOM	Moab Minerals Ltd	0.001	-33%	0%	-80%	-83%	-50%	$ 1,733,666.03
KNB	Koonenberrygold	0.074	-6%	17%	393%	393%	517%	$ 73,426,013.23
AWJ	Auric Mining	0.215	-7%	-22%	-17%	16%	-37%	$ 34,259,275.33
ENR	Encounter Resources	0.235	24%	21%	-31%	-41%	-28%	$ 112,228,271.78
SNG	Siren Gold	0.053	-4%	-4%	-26%	-33%	-18%	$ 11,276,986.36
STN	Saturn Metals	0.28	-2%	-3%	40%	14%	37%	$ 111,775,221.22
USL	Unico Silver Limited	0.21	-9%	-9%	5%	27%	8%	$ 87,588,751.00
PNM	Pacific Nickel Mines	0.024	0%	0%	0%	-25%	0%	$ 10,103,834.52
AYM	Australia United Min	0.003	50%	50%	0%	0%	-25%	$ 5,527,732.46
HAV	Havilah Resources	0.175	0%	0%	-13%	-10%	-22%	$ 55,977,288.84
SPR	Spartan Resources	1.95	-13%	-6%	77%	193%	38%	$ 2,428,566,779.79
PNT	Panthermetalsltd	0.013	-7%	-13%	-35%	-54%	18%	$ 4,212,663.67
MEK	Meeka Metals Limited	0.125	-17%	-22%	95%	247%	62%	$ 314,431,896.25
GMD	Genesis Minerals	3.84	-12%	-5%	69%	112%	55%	$ 4,157,269,246.40
PGO	Pacgold	0.075	-6%	23%	-17%	-52%	0%	$ 9,333,258.00
FEG	Far East Gold	0.14	-10%	-13%	-20%	22%	-22%	$ 53,218,980.69
MI6	Minerals260Limited	0.145	7%	21%	12%	-6%	12%	$ 268,753,333.29
IGO	IGO Limited	4.3	6%	21%	-16%	-44%	-10%	$ 3,316,833,020.94
GAL	Galileo Mining Ltd	0.125	9%	14%	-7%	-53%	0%	$ 21,738,741.97
RXL	Rox Resources	0.295	-14%	-25%	97%	74%	48%	$ 204,598,495.36
PTN	Patronus Resources	0.06	-2%	-3%	-3%	-8%	22%	$ 91,694,277.02
CLZ	Classic Min Ltd	0.001	0%	0%	0%	-83%	0%	$ 1,544,025.56
TGM	Theta Gold Mines Ltd	0.115	-15%	-21%	-36%	-26%	-36%	$ 114,325,721.38
FAL	Falconmetalsltd	0.12	0%	14%	-14%	-17%	4%	$ 20,355,000.00
SPD	Southernpalladium	0.225	-8%	-31%	-68%	-59%	-63%	$ 20,918,500.00
ORN	Orion Minerals Ltd	0.012	9%	-8%	-29%	-43%	-20%	$ 82,205,373.82
TMB	Tambourahmetals	0.024	0%	-14%	-8%	-65%	14%	$ 2,586,981.01
TMS	Tennant Minerals Ltd	0.007	-22%	-13%	-50%	-67%	-22%	$ 7,647,123.32
AZY	Antipa Minerals Ltd	0.5	3%	-7%	150%	317%	92%	$ 264,310,076.12
PXX	Polarx Limited	0.008	-11%	0%	0%	-43%	23%	$ 19,004,007.82
TRE	Toubani Res Ltd	0.285	0%	4%	43%	119%	68%	$ 70,758,862.08
AUN	Aurumin	0.078	4%	44%	34%	111%	18%	$ 38,552,291.23
GPR	Geopacific Resources	0.021	5%	0%	-23%	3%	5%	$ 63,649,306.52
FXG	Felix Gold Limited	0.145	-9%	-22%	99%	104%	73%	$ 59,587,430.42
ILT	Iltani Resources Lim	0.24	-6%	12%	66%	23%	17%	$ 10,648,235.04
BRX	Belararoxlimited	0.115	44%	-15%	-45%	-51%	-34%	$ 15,652,235.40
TM1	Terra Metals Limited	0.03	11%	7%	-9%	-39%	7%	$ 11,623,781.74
TOR	Torque Met	0.096	1%	1%	75%	-42%	81%	$ 26,157,400.82
ARD	Argent Minerals	0.019	-10%	-14%	-21%	-5%	12%	$ 26,021,528.64
LM1	Leeuwin Metals Ltd	0.14	-18%	-24%	92%	75%	0%	$ 13,608,861.84
SX2	Southgold Consol	5.72	0%	13%	0%	0%	0%	$ 778,954,844.91

Moho Resources (ASX:MOH)

It's been a hard slog for nickel explorer Moho, but you're never really dead in this caper and this week some gold prospects delivered signs of life for the tiddler.

The key announcement came on Friday, when Moho announced soil samples from its Silver Swan North prospect highlighted a coherent 4km long by 1km long wide +10ppb gold anomaly.

That ranged up to 71ppb, with a 1.4km long core at a higher average grade of +20ppb Au.

It's a continuation of Horizon Minerals' Southern Anomaly and located close to a bunch of processing plants.

The area's gold potential has come into sharper focus thanks to Horizon Minerals' acquisition of Poseidon Nickel, which owned the adjacent Black Swan concentrator, around 40km northeast of Kalgoorlie.

Horizon Minerals (ASX:HRZ) is planning to turn the plant into a gold mill, with nickel's downturn precipitating the infrastructure's sale to Ashok Parekh-chaired HRZ.

Belararox (ASX:BRX)

BRX was up big without explanation on Friday as investors continue to wait for the outcome of assays from drilling at its Toro-Malambo-Tambo asset in Argentina.

The project is located near BHP and Lundin's Filo Del Sol deposit, recently revealed as one of the largest copper discoveries in decades, with some massive gold and silver resource numbers as well.

Belararox collected some handy funds last week after announcing it had negotiated an option for Tim Goyder's Minerals 260 (ASX:MI6) to acquire tenements contiguous to its holding at the 2.3Moz Bullabulling gold mine near Coolgardie in WA.

The junior collected $150,000 cash on the announcement of the option agreement, with MI6 able to acquire the tenements for $600,000 in cash or shares within the next two years.

The deal reduces BRX's tenement holding costs and allows it to focus on its higher potential TMT copper project in Argentina and strategic early stage assets in Botswana.

Kairos Minerals (ASX:KAI)

Kairos lifted after announcing the appointment of former De Grey Mining chairman Simon Lill, who oversaw its board as the firm went from microcap to $6bn takeover prey of Northern Star Resources on the back of its discovery of the 11.2Moz Hemi gold project in the Pilbara.

Kairos hosts 1.4Moz in a single pit shell 55km from Hemi at the Mt York gold project. Lill is spreading his expertise across a number of junior gold players on the back of his success at De Grey.

He has also been proposed as the chairman of future ASX gold IPO Ballard Mining, a spinoff of the 1.1Moz Mt Ida gold project from Gina Rinehart, Mineral Resources (ASX:MIN) and Idemitsu backed Delta Lithium (ASX:DLI).

Originally published as Gold Digger: The factors driving gold higher will continue to grow – Sprott