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The Fed, the Macro, the Vibe… It Weighs on Gold Now, but Wall Street Guns are Bullish for 2024

Goldman Sachs and JP Morgan are seeing a bright future for the yellow metal…

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Published

8 months ago

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This article was originally published by Stockhead
  • At AUD $2,967, gold’s price is weighed down today by extenuating macro circumstances 
  • Still, Goldman Sachs and JP Morgan are seeing a bright future for the yellow metal
  • Meanwhile, a +200pc burst up the charts for OzAurum turned lithium-digging heads

 

Our Gold Digger column wraps all the news driving ASX stocks with exposure to precious metals.

There’s pressure on gold prices as we head towards the weekend, with the precious metal’s arch nemesis, the US dollar Index (DXY) having a bit of a break upwards and to the right with multi-month highs, blowing a big, fat raspberry to risk assets everywhere.

And that means safe-haven narrative assets, too – namely everyone’s favourite yellow metal.

The gold price has, in fact, largely been trading sideways in recent weeks. This week, it’s fallen by another half a per cent to US$1,909.26 an ounce (AUD: $2,968.12) at the time of writing.

The greenback’s strong performance follows some hot CPI inflation and retail sales data in the US this week, along with lower-than-expected unemployment claims, meaning the US economy is showing quite a lot of resilience right now.

As Eddy noted in his morning Market Highlights column:

Most analysts believe that a series of strong data coming out of the US in recent weeks will encourage the Fed to hike rates in November to tame sticky inflation.

That has sent bond yields soaring lately, which has hurt the price of gold because gold doesn’t pay any regular income like bonds.

 

 

 

And ah look, here’s one of those analysts Eddy was talking about, with some timely commentary that’s landed in the crowded Stockhead inbox…

Over to you, then, Denys Peleshok, Head of Asia at CPT Markets:

“The potential for the Federal Reserve to keep interest rates high for longer could continue to weigh on gold prices which have been declining since their peak in May this year.

“Current market sentiment could continue pushing traders toward bonds. Yields on both the 2-year and the 10-year treasury bonds remain near this year’s high despite some fluctuation during the last few days.

“Gold prices could continue to see some volatility during the coming days as traders react to the US economic data releases. The resilient US economy could also continue to affect the market’s direction as traders could adopt a more risk-on approach, leaving gold behind.”

 

HOWEVER, want some golden price predictions?

Here’s the good news, though. The big boys and girls on Wall Street are still bullish mid-to-longer term.

Goldman Sachs is one, and was just recently predicting an average gold price of US$2,133 per ounce (about AUD $3,300) for 2024.

That’s higher than the average consensus forecast of US$2,100 per ounce for 2024 made by plenty of other analysts, but not fellow financial titan JP Morgan.

The Monopoly Board Man company’s price prediction for next year (albeit its peak, by the end of Q4 2024) is US$2,175 per ounce. And old JP reckons it’s only going to surge from there – into record territory around US$2,600.

That’s nice, but pffft… hold my beer, reckons the moneybags US mining investors Goehring and Rozencwajg, as we noted in a recent column or two. On a slightly longer timeframe (“this decade”) G&R are suggesting… wait for it… that a US$14k per ounce gold price is not out of the question in a bullish market.

And the firm not only believes that price for the “asset with the most potential this decade” is possible, but “highly likely”.

 

 

 

Also… investor holdings are highest in more than a decade

And that’s another JP Morgan bit of positive spin. 

It comes from a recent report from the firm (highlighted by Kitco News) that uses analysis drawing from World Gold Council data up until the end of 2022 and projecting it via estimates, and actual semi-complicated maths, well into this year.

Per the Kitco article:

The [JP Morgan] analysts used data from the World Gold Council covering up until the end of 2022, and created an estimate running to the end of Q2 2023 by agglomerating the reported gold purchases by central banks and private investors.

Then, they divided the total stock of gold holdings for investment purposes by the stock of financial assets including cash, equities and bonds held by private nonbank investors globally, resulting in a new gold allocation metric.

The upshot is – and it’s partly atrributed to aggressive buying of the precious metal from central banks* since the Covid pandemic – we are at the stage where gold investors have allocated the largest percentage of their portfolios to the asset since 2012.

* And let’s not forget, too, that China has been adding gold to its coffers more aggressively than Smaug and Scrooge combined this year…

It added to its gold reserves for a 10th straight month in August as it slowly but surely diversifies its path away from the US dollar.

 

 

 

What’s hot

The week’s biggest golden gainers 

OzAurum Resources (ASX:OZM): +128%

Avira Resources (ASX:AVW): +100%

Si6 Metals (ASX:SI6): +67%

 

What’s not

The week’s biggest falls

Red River Resources (ASX:RVR): -100%

Xantippe Resources (ASX:XTC): -50%

Mithril Resources (ASX:MTH): -33%

 

Winners & Losers

Here’s a broad look at how ASX-listed precious metals stocks are performing:

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

Stocks missing from this list? Email [email protected]

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % YTD RETURN % 12 MONTH RETURN % PRICE MARKET CAP
OZM Ozaurum Resources 128% 107% -17% 3% 0.091 $4,064,000
AVW Avira Resources Ltd 100% 0% -50% 0% 0.002 $2,133,790
SI6 SI6 Metals Limited 67% 100% 25% 0% 0.01 $15,950,875
SPD Southern Palladium 43% 55% -55% -33% 0.48 $20,677,597
NAE New Age Exploration 33% 33% 33% 0% 0.008 $12,923,090
OKR Okapi Resources 33% 20% -56% -3% 0.12 $22,059,032
BNR Bulletin Res Ltd 31% 38% -50% -2% 0.072 $17,615,466
SKY SKY Metals Ltd 30% 21% -13% 0% 0.052 $23,182,397
SPR Spartan Resources 24% 51% 34% 22% 0.385 $351,048,014
TMB Tambourahmetals 24% 18% 62% 13% 0.235 $18,661,579
LYN Lycaon Resources 22% -8% -20% 1% 0.28 $10,897,250
GSN Great Southern 21% -4% -30% -1% 0.023 $17,164,168
PRX Prodigy Gold NL 20% 20% -40% -1% 0.006 $10,506,647
MOM Moab Minerals Ltd 20% 20% -56% 0% 0.012 $8,183,562
GTR Gti Energy Ltd 19% 19% -49% 0% 0.0095 $16,359,577
NES Nelson Resources 17% 40% -47% 0% 0.007 $3,681,566
PDI Predictive Disc Ltd 15% 18% 22% 5% 0.225 $465,354,920
BMR Ballymore Resources 14% -20% -31% -3% 0.12 $17,543,672
WCN White Cliff Min Ltd 14% -11% -68% -1% 0.008 $10,056,148
RMX Red Mount Min Ltd 14% -20% -33% 0% 0.004 $10,694,304
PNM Pacific Nickel Mines 14% 3% 12% 1% 0.096 $39,016,120
GRL Godolphin Resources 14% 5% -47% -4% 0.042 $7,108,165
THR Thor Energy PLC 14% 5% -60% -2% 0.042 $5,934,970
DLI Delta Lithium 13% 10% 23% 35% 0.8275 $426,126,934
TMS Tennant Minerals Ltd 13% 17% -15% 0% 0.034 $25,820,736
CTO Citigold Corp Ltd 13% 13% -36% 0% 0.0045 $12,931,466
ADG Adelong Gold Limited 13% 0% -40% 0% 0.009 $5,366,901
MI6 Minerals260 12% 9% 83% 21% 0.55 $126,360,000
CPM Cooper Metals 12% 12% -65% -10% 0.14 $7,450,471
G88 Golden Mile Res Ltd 12% -5% 19% 2% 0.038 $12,516,801
GML Gateway Mining 11% -7% -57% -2% 0.039 $10,387,008
VKA Viking Mines Ltd 11% -9% 25% 0% 0.01 $10,252,584
CXU Cauldron Energy Ltd 11% 43% 3% 0% 0.01 $10,467,255
TAR Taruga Minerals 11% -9% -68% -1% 0.01 $7,060,268
STN Saturn Metals 10% -3% -41% -2% 0.16 $26,653,870
QML Qmines Limited 10% -27% -24% -6% 0.1025 $21,652,629
BC8 Black Cat Syndicate 10% -35% -35% -13% 0.23 $69,170,918
MDI Middle Island Res 9% 0% -66% -1% 0.024 $3,375,797
ALY Alchemy Resource Ltd 9% -20% -43% -1% 0.012 $14,136,915
ARN Aldoro Resources 9% -27% -51% -4% 0.12 $16,154,849
WGX Westgold Resources. 9% 24% 115% 94% 1.815 $861,993,369
PGD Peregrine Gold 8% 20% -50% -6% 0.325 $16,830,783
MGV Musgrave Minerals 8% 4% 46% 14% 0.35 $201,010,703
KCC Kincora Copper 7% -4% -20% -3% 0.044 $7,056,678
CEL Challenger Gold Ltd 7% 10% -54% -9% 0.088 $104,884,145
PGO Pacgold 7% -4% -60% -14% 0.22 $14,740,124
MRR Minrex Resources Ltd 7% 0% -72% -2% 0.015 $15,730,579
MEU Marmota Limited 7% -3% -37% -2% 0.031 $32,822,818
AUT Auteco Minerals 7% -3% -28% -2% 0.031 $77,134,066
BNZ Benz Mining 7% 18% -10% 6% 0.47 $56,041,604
AME Alto Metals Limited 6% -2% -29% -2% 0.05 $34,281,605
ANX Anax Metals Ltd 6% -2% -24% 0% 0.05 $21,065,292
BM8 Battery Age Minerals 6% -12% -33% -17% 0.335 $29,332,673
EVN Evolution Mining Ltd 6% 3% 71% 82% 3.795 $6,944,555,021
RSG Resolute Mining 6% 4% 47% 16% 0.355 $745,152,299
BYH Bryah Resources Ltd 6% -5% -32% -1% 0.018 $6,454,895
HMG Hamelin Gold 6% 0% -47% -6% 0.09 $14,175,000
NWM Norwest Minerals 6% -20% -36% -2% 0.036 $10,352,502
GUL Gullewa Limited 6% 0% -10% -1% 0.055 $10,767,521
NVA Nova Minerals Ltd 6% -11% -67% -41% 0.275 $53,776,940
TCG Turaco Gold Limited 6% 10% 10% 0% 0.055 $27,649,417
AMI Aurelia Metals Ltd 6% 22% -54% -2% 0.1025 $176,950,537
AQI Alicanto Min Ltd 6% -5% -19% -1% 0.038 $23,287,799
PUR Pursuit Minerals 6% -21% -41% -1% 0.0095 $29,439,714
DEG De Grey Mining 5% -1% 23% 8% 1.36 $2,085,001,024
HCH Hot Chili Ltd 5% -12% 7% 51% 1.38 $163,042,706
ICG Inca Minerals Ltd 5% 11% -53% 0% 0.02 $9,720,200
KIN KIN Min NL 5% 0% -43% -3% 0.04 $47,126,022
RMS Ramelius Resources 5% 6% 93% 41% 1.335 $1,438,071,249
SLR Silver Lake Resource 5% 6% -21% -22% 0.97 $878,659,673
BGD Barton Gold Holdings 5% -2% 41% 3% 0.225 $44,427,639
STK Strickland Metals 5% 10% -6% 1% 0.045 $72,010,845
M2R Miramar 4% -7% -54% -3% 0.05 $7,145,738
BCN Beacon Minerals 4% -7% 0% 0% 0.025 $93,919,204
IPT Impact Minerals 4% -19% 86% 1% 0.013 $34,376,447
NST Northern Star 4% 6% 48% 52% 11.43 $13,025,779,750
MZZ Matador Mining Ltd 4% 5% -50% -6% 0.058 $18,295,174
DTM Dart Mining NL 4% -12% -72% -3% 0.029 $4,671,330
RRL Regis Resources 4% 2% 3% -44% 1.625 $1,223,648,869
G50 Gold50Limited 3% -3% 11% -10% 0.155 $16,585,111
GOR Gold Road Res Ltd 3% 1% 26% 2% 1.71 $1,806,355,830
OBM Ora Banda Mining Ltd 3% 6% 46% 1% 0.095 $154,886,756
SSR SSR Mining Inc. 3% 1% 11% 10% 23.15 $479,135,548
WAF West African Res Ltd 3% 1% -32% -36% 0.82 $826,021,027
CAI Calidus Resources 3% -3% -72% -11% 0.165 $103,339,576
NMR Native Mineral Res 3% 64% -74% -7% 0.041 $8,061,425
CY5 Cygnus Metals Ltd 3% -24% -24% -18% 0.205 $55,572,688
TSO Tesoro Gold Ltd 3% -18% -44% -2% 0.0205 $21,599,058
CAZ Cazaly Resources 2% 5% 5% 1% 0.042 $15,800,120
GSM Golden State Mining 2% 11% -13% 0% 0.042 $7,834,619
ALK Alkane Resources Ltd 2% -3% -19% 11% 0.64 $385,007,379
NCM Newcrest Mining 2% 0% 52% 545% 26.09 $23,276,825,954
M24 Mamba Exploration 2% -22% -59% -9% 0.051 $3,110,150
SFR Sandfire Resources 2% 2% 56% 108% 6.515 $2,901,263,743
HMX Hammer Metals Ltd 2% -10% 15% -1% 0.055 $48,752,404
AGC AGC Ltd 2% 2% -9% 0% 0.059 $5,900,000
CST Castile Resources 2% 9% -52% -3% 0.062 $14,514,146
POL Polymetals Resources 2% 3% 72% 7% 0.31 $45,343,808
CMM Capricorn Metals 2% 4% 30% -25% 4.35 $1,605,341,407
GMD Genesis Minerals 2% 5% 47% 33% 1.575 $1,701,646,555
SVL Silver Mines Limited 1% 1% -1% -3% 0.1725 $238,736,464
PRU Perseus Mining Ltd 1% 4% 21% -33% 1.7775 $2,402,441,816
GED Golden Deeps 1% -11% -58% -3% 0.0585 $6,758,057
NPM Newpeak Metals 0% 0% 0% 0% 0.001 $9,995,579
FFX Firefinch Ltd 0% 0% 0% 0% 0.2 $236,569,315
DCX Discovex Res Ltd 0% -20% -60% 0% 0.002 $6,605,136
AQX Alice Queen Ltd 0% -7% -74% -3% 0.013 $1,644,693
PNX PNX Metals Limited 0% 0% -29% 0% 0.003 $10,761,249
GIB Gibb River Diamonds 0% -9% -53% -3% 0.03 $6,345,283
GWR GWR Group Ltd 0% 8% 9% 3% 0.093 $29,873,149
AAU Antilles Gold Ltd 0% -4% -52% -1% 0.023 $15,655,611
CWX Carawine Resources 0% -4% 5% 2% 0.115 $22,634,009
LEX Lefroy Exploration 0% 5% -26% -5% 0.21 $33,696,180
ERM Emmerson Resources 0% -3% -20% -1% 0.067 $37,040,266
GMR Golden Rim Resources 0% 0% -41% 0% 0.029 $17,156,063
SRN Surefire Rescs NL 0% -3% -6% 0% 0.015 $24,770,452
SIH Sihayo Gold Limited 0% 0% 0% 0% 0.002 $24,408,512
AVM Advance Metals Ltd 0% 0% -58% -1% 0.005 $3,531,352
WRM White Rock Min Ltd 0% 0% -30% 0% 0.063 $17,508,200
MCT Metalicity Limited 0% 0% -56% 0% 0.002 $7,472,172
TRY Troy Resources Ltd 0% 0% 0% 0% 0.0295 $62,920,961
AAR Astral Resources NL 0% 3% -13% 0% 0.07 $54,382,940
NML Navarre Minerals Ltd 0% 0% -57% -2% 0.019 $28,555,654
DCN Dacian Gold Ltd 0% 5% 14% 1% 0.105 $133,848,103
AAJ Aruma Resources Ltd 0% -15% -51% -2% 0.033 $6,694,311
AL8 Alderan Resource Ltd 0% 0% -20% 0% 0.008 $4,933,557
GMN Gold Mountain Ltd 0% -36% 17% 0% 0.007 $15,883,550
TBA Tombola Gold Ltd 0% 0% -26% 0% 0.026 $33,129,243
GSR Greenstone Resources 0% -17% -85% -2% 0.01 $13,409,548
VRC Volt Resources Ltd 0% -27% -73% -1% 0.008 $33,485,103
HRN Horizon Gold Ltd 0% 0% 2% 3% 0.335 $41,935,850
EMU EMU NL 0% 0% -68% 0% 0.002 $2,900,043
SFM Santa Fe Minerals 0% 0% -48% -4% 0.044 $3,204,027
X64 Ten Sixty Four Ltd 0% 0% -8% -7% 0.57 $130,184,182
HAW Hawthorn Resources 0% 4% 28% 1% 0.125 $41,876,952
CBY Canterbury Resources 0% -4% -25% -1% 0.027 $3,902,135
TMZ Thomson Res Ltd 0% 0% -79% -1% 0.005 $4,881,018
WMC Wiluna Mining Corp 0% 0% 0% 0% 0.205 $74,238,031
KAI Kairos Minerals Ltd 0% -11% -31% 0% 0.024 $60,280,980
HRZ Horizon 0% 3% -49% -3% 0.036 $24,394,429
ZAG Zuleika Gold Ltd 0% 18% -35% -1% 0.013 $6,799,658
SBM St Barbara Limited 0% -17% -51% -15% 0.19 $151,324,520
SAU Southern Gold 0% -24% -62% -1% 0.013 $6,321,709
CHZ Chesser Resources 0% 0% 33% 2% 0.105 $65,818,414
BEZ Besragoldinc 0% -24% 327% 11% 0.16 $52,921,085
PKO Peako Limited 0% -25% -74% -1% 0.006 $2,824,389
GNM Great Northern 0% -27% -60% -4% 0.024 $3,865,727
BTR Brightstar Resources 0% -8% -25% -1% 0.012 $22,608,183
TRM Truscott Mining Corp 0% 2% -4% 0% 0.043 $7,454,784
AYM Australia United Min 0% 0% -50% 0% 0.003 $5,527,732
ANL Amani Gold Ltd 0% 0% -33% 0% 0.001 $25,143,441
GAL Galileo Mining Ltd 0% -30% -71% -56% 0.32 $59,287,478
CLZ Classic Min Ltd 0% 0% -95% -1% 0.001 $12,046,242
AZY Antipa Minerals Ltd 0% -29% -61% -1% 0.012 $49,770,836
PXX Polarx Limited 0% 0% -18% -1% 0.009 $13,450,639
RND Rand Mining Ltd -1% 5% -8% 1% 1.37 $77,920,067
KSN Kingston Resources -1% 1% -7% 0% 0.082 $40,832,870
BGL Bellevue Gold Ltd -1% -10% 83% 34% 1.465 $1,632,623,554
TIE Tietto Minerals -1% -31% -33% -36% 0.35 $369,759,347
SVG Savannah Goldfields -1% -9% -71% -12% 0.07 $14,030,816
IDA Indiana Resources -2% -2% -15% 0% 0.057 $30,533,535
SXG Southern Cross Gold -2% 66% 109% -7% 0.73 $65,740,605
XAM Xanadu Mines Ltd -2% -6% 176% 6% 0.091 $147,404,177
MRZ Mont Royal Resources -2% 26% -14% 5% 0.22 $17,693,411
EMR Emerald Res NL -2% 1% 108% 129% 2.47 $1,467,655,520
ASO Aston Minerals Ltd -2% -20% -54% -4% 0.041 $52,294,718
ADT Adriatic Metals -2% -3% 67% 50% 3.65 $862,147,725
RXL Rox Resources -2% -15% -18% 3% 0.2 $70,206,252
TAM Tanami Gold NL -3% 3% -14% 0% 0.038 $44,653,688
WA8 Warriedarresourltd -3% -25% -46% -10% 0.075 $32,329,411
S2R S2 Resources -3% -3% 18% -1% 0.165 $67,665,101
SPQ Superior Resources -3% -26% -50% -3% 0.029 $51,367,505
MXR Maximus Resources -3% -22% -44% -1% 0.028 $8,967,162
DRE Dreadnought Resources Ltd -4% 17% -50% -5% 0.055 $181,403,724
LM8 Lunnonmetalslimited -4% -19% -13% -8% 0.82 $155,075,945
SLZ Sultan Resources Ltd -4% -10% -73% -6% 0.027 $4,001,131
NXM Nexus Minerals Ltd -4% -27% -72% -15% 0.052 $16,923,572
PRS Prospech Limited -4% -10% -6% 0% 0.026 $5,933,519
CDR Codrus Minerals Ltd -4% -13% 4% -5% 0.078 $5,911,620
TGM Theta Gold Mines Ltd -4% -7% 103% 6% 0.13 $91,009,751
TRE Toubaniresourcesinc -4% -16% 0% -3% 0.13 $15,278,750
MKR Manuka Resources. -4% -9% -68% -4% 0.05 $28,126,003
SVY Stavely Minerals Ltd -4% -20% -55% -17% 0.072 $27,177,323
BMO Bastion Minerals -4% 4% -74% -1% 0.024 $4,159,781
HAV Havilah Resources -4% -14% -30% -9% 0.24 $75,993,410
EMC Everest Metals Corp -4% -21% 15% 4% 0.115 $15,327,558
MVL Marvel Gold Limited -4% 0% -65% -2% 0.011 $9,501,698
KZR Kalamazoo Resources -4% -24% -57% -10% 0.11 $19,502,132
MM8 Medallion Metals. -4% 2% -61% -9% 0.066 $20,296,865
CDT Castle Minerals -5% -5% -68% -1% 0.0105 $11,244,930
AWJ Auric Mining -5% -11% -47% -2% 0.042 $5,496,103
GBR Greatbould Resources -5% -6% -39% -3% 0.061 $30,823,884
SMS Star Minerals -5% -5% -59% -3% 0.04 $1,450,112
SMI Santana Minerals Ltd -5% 2% -24% -7% 0.59 $105,131,263
IVR Investigator Res Ltd -5% -13% -20% 0% 0.039 $56,049,631
MEG Megado Minerals Ltd -5% -29% -57% -1% 0.039 $10,178,222
PNT Panther Metals -5% 3% -59% -11% 0.076 $4,647,400
ORN Orion Minerals Ltd -5% 0% 6% 0% 0.019 $108,047,326
TNC True North Copper -5% -27% 270% 13% 0.185 $49,369,876
GPR Geopacific Resources -5% 6% -74% -1% 0.018 $14,781,440
BBX BBX Minerals Ltd -5% -8% -49% -7% 0.035 $18,120,711
TG1 Techgen Metals Ltd -5% -36% -82% -5% 0.035 $2,778,058
KAU Kaiser Reef -6% 0% 0% 1% 0.17 $25,139,129
MEK Meeka Metals Limited -6% -6% -29% -2% 0.049 $55,110,447
LCY Legacy Iron Ore -6% -11% -20% 0% 0.016 $102,509,219
DTR Dateline Resources -6% -24% -82% -2% 0.016 $14,167,085
WWI West Wits Mining Ltd -6% -12% -12% 0% 0.015 $34,819,511
TBR Tribune Res Ltd -6% -1% -8% -77% 3.26 $171,045,931
MEI Meteoric Resources -7% -4% 1436% 16% 0.215 $417,241,282
MBK Metal Bank Ltd -7% -13% -11% 0% 0.035 $10,864,523
AM7 Arcadia Minerals -7% -7% -66% -11% 0.098 $10,264,285
MAT Matsa Resources -7% -26% -33% -1% 0.028 $13,318,873
TLM Talisman Mining -7% -7% -7% 0% 0.14 $26,364,849
A1G African Gold Ltd. -7% -24% -37% -4% 0.042 $7,111,071
KRM Kingsrose Mining Ltd -7% -15% 10% -1% 0.056 $42,894,012
NAG Nagambie Resources -7% -27% -64% -4% 0.027 $15,124,884
BAT Battery Minerals Ltd -7% -64% -73% -8% 0.04 $4,784,180
FG1 Flynngold -7% -9% -36% -4% 0.064 $8,728,485
CHN Chalice Mining Ltd -8% -47% -33% -341% 2.895 $1,081,317,985
IGO IGO Limited -8% 4% -8% -3% 13.435 $10,026,225,844
ADV Ardiden Ltd -8% -8% -31% 0% 0.0055 $13,441,677
CLA Celsius Resource Ltd -8% -8% -21% -1% 0.011 $25,829,594
RGL Riversgold -8% -21% -69% -2% 0.011 $10,463,876
EM2 Eagle Mountain -9% -16% -69% -9% 0.084 $26,532,117
ARL Ardea Resources Ltd -9% -12% -34% -10% 0.615 $119,717,078
YRL Yandal Resources -9% 0% -68% -5% 0.05 $7,890,154
MAU Magnetic Resources -9% -1% -20% -6% 0.8 $189,563,228
SNG Siren Gold -9% -17% -64% -10% 0.079 $10,706,513
AZS Azure Minerals -10% 12% 1123% 241% 2.63 $1,166,739,485
PNR Pantoro Limited -10% -15% -78% -5% 0.045 $244,589,434
HXG Hexagon Energy -10% 0% -50% -1% 0.009 $4,616,243
FEG Far East Gold -10% -40% -68% -30% 0.18 $32,509,118
ARV Artemis Resources -10% 52% -5% 1% 0.035 $56,697,061
KCN Kingsgate Consolid. -10% -4% -27% -55% 1.175 $302,858,238
USL Unico Silver Limited -10% -6% -39% -8% 0.094 $27,828,850
FML Focus Minerals Ltd -11% -13% 36% -9% 0.17 $48,714,970
ICL Iceni Gold -11% -21% -13% 0% 0.083 $17,311,429
MOH Moho Resources -11% -27% -76% -1% 0.008 $2,176,284
KAL Kalgoorlie Gold Mining -11% -25% -82% -6% 0.024 $3,710,851
ASR Asra Minerals Ltd -11% -11% -70% -1% 0.008 $11,523,097
OAU Ora Gold Limited -11% 33% 60% 0% 0.008 $37,557,795
AUC Ausgold Limited -11% -21% -33% -2% 0.031 $66,588,095
REZ Resourc & En Grp Ltd -12% 0% -35% 0% 0.015 $7,497,087
LCL LCL Resources Ltd -12% -9% 2% -3% 0.03 $23,829,134
A8G Australasian Metals -12% -15% -51% -5% 0.145 $7,557,472
CYL Catalyst Metals -12% -25% -65% -72% 0.46 $107,842,897
MTC Metalstech Ltd -13% -10% -45% -35% 0.175 $36,777,895
ZNC Zenith Minerals Ltd -13% 42% -65% -16% 0.105 $36,999,993
MHC Manhattan Corp Ltd -13% -26% -13% 0% 0.007 $22,027,348
KTA Krakatoa Resources -13% -25% -66% -2% 0.021 $8,953,908
MKG Mako Gold -13% -20% -67% -2% 0.02 $11,520,164
MLS Metals Australia -13% 3% -38% -1% 0.033 $21,841,267
ENR Encounter Resources -13% -37% 97% 12% 0.295 $124,590,621
ADN Andromeda Metals Ltd -14% -14% -59% -2% 0.024 $74,640,202
LRL Labyrinth Resources -14% -14% -70% -1% 0.006 $7,125,262
SBR Sabre Resources -15% 31% -22% 1% 0.047 $13,699,851
GBZ GBM Rsources Ltd -16% -24% -66% -3% 0.016 $9,925,149
RED Red 5 Limited -16% 0% -14% 1% 0.21 $761,086,344
KNB Koonenberry Gold -16% -18% -49% -2% 0.041 $3,106,014
PUA Peak Minerals Ltd -17% -17% -72% 0% 0.0025 $2,603,442
VMC Venus Metals Cor Ltd -17% -17% 7% 2% 0.1 $18,972,868
RML Resolution Minerals -17% 0% -44% 0% 0.005 $6,286,459
RDS Redstone Resources -17% -17% -44% 0% 0.005 $4,356,892
AUN Aurumin -17% -13% -81% -4% 0.02 $5,968,862
TTM Titan Minerals -17% -24% -36% -3% 0.038 $59,048,677
FAL Falcon Metals -18% -26% -33% -14% 0.14 $24,780,000
NSM Northstaw -20% -50% -73% -12% 0.036 $4,324,572
RDN Raiden Resources Ltd -21% 158% 308% 3% 0.031 $70,970,155
TMX Terrain Minerals -25% -31% -36% 0% 0.0045 $5,415,997
FAU First Au Ltd -25% 0% -54% 0% 0.003 $4,355,980
MTH Mithril Resources -33% -33% -80% 0% 0.001 $3,368,804
XTC Xantippe Res Ltd -50% 0% -81% 0% 0.001 $17,528,005
RVR Red River Resources -100% -100% -100% -7% 0 $37,847,908

 

OzAurum Resources (ASX:OZM) went completely gangbusters today (Friday) with a +200% daily gain that hasn’t yet quit near closing bell on the ASX.

The news is the junior goldie has made a diversified pivot into lithium by acquiring the Linopolis Jaime hard rock lithium project in the State of Minas Gerais, where it appears to be onto some particularly juicy-looking spodumene.

The project’s spod grades are revealed to be up to 7.36% LiO2 with an average spodumene grade of 6.94% LiO2 confirmed within a +7m wide zone consisting of at least 20% volume coarse spodumene crystals up to 1m in length mapped over +7m in true width.

See here for more details.

 

More from around the vaults

 

 

 

 

 

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