By Barry Sergeant, Mineweb.com
Dollar gold bullion traded within whiskers of US$1,100 an ounce on Wednesday, on factors that have been canvassed at length, ranging from India buying metal from the IMF, to the contrarian move of the metal to a neutral to stronger dollar, but which listed gold stocks are drawing the most buying attention?
Looking at stocks with a market value of at least US$10m, junior gold stocks are among the cream, with prime mention going to Ventana Gold, which has registered a stock price gain of more than 26,000% (yes, twenty six thousand percent) in less than 12 months.
Ventana is busy drilling at La Bodega in Colombia, and currently carries an eye-popping market value of US$902m. La Bodega appears to be an extension of Greystar's Angostura project, which for some considerable time has held 15m ounces of gold resources, with expansions likely. Greystar carries a more modest market value of US$341m, and is not much in demand at this point in time.
Further smaller gold names in very strong demand include North American listed Romarco, Metallic Venture, Tara Gold, Philex Gold, Minefinders, West Timmins, Centerra, Western Copper, and London-listed Norseman Gold, an Australian gold digger. No doubt Australian gold names will be catching up overnight Wednesday into Thursday.
Among global Tier I gold stocks, strongest demand is being shown for Newmont, and also Barrick, which have both recently published encouraging quarterly results showing an increasing ability to generate free cash flow, unlike a number of their peers.
There is also good demand for Goldcorp, which is reporting latest quarterly results today, and also diversified metals producers Freeport-McMoRan and Buenaventura, and also Yamana, Russia's Polyus, Australia's leading gold digger in Newcrest, that country's No 2 gold name in Lihir, and Johannesburg-based transnational gold miner AngloGold Ashanti.
Tier II gold names in strong demand include the likes of Centerra, Eldorado, Red Back, Iamgold and Randgold Resources.
IN-DEMAND GOLD STOCKS
Includes some diversified names
Stock
From
From
Value
price
high*
low*
USD bn
CAD 1.35
0.0%
1073.9%
0.382
CAD 1.16
0.0%
346.2%
0.057
USD 0.45
0.0%
1630.8%
0.046
CAD 0.35
0.0%
133.3%
0.013
CAD 11.72
-0.1%
252.0%
0.727
CAD 2.82
-0.4%
2069.2%
0.374
CAD 9.38
-0.4%
908.6%
2.077
CAD 2.24
-0.4%
992.7%
0.162
GBP 0.56
-0.4%
3616.7%
0.159
CAD 10.74
-0.6%
26750.0%
0.902
CAD 1.69
-0.6%
463.3%
0.206
CAD 3.87
-0.8%
545.0%
0.779
USD 3.77
-0.8%
842.5%
0.842
CAD 1.15
-0.9%
666.7%
0.082
CAD 6.88
-1.0%
463.9%
1.167
CAD 0.95
-1.0%
192.3%
0.174
AUD 0.37
-1.3%
825.0%
0.221
CAD 2.11
-1.4%
427.5%
0.327
USD 12.42
-1.5%
239.3%
4.970
AUD 0.24
-2.0%
300.0%
0.035
CAD 15.51
-2.2%
340.6%
3.377
GBP 11.74
-2.3%
582.6%
3.328
CAD 0.40
-2.4%
700.0%
0.098
CAD 3.52
-2.5%
433.3%
0.605
USD 15.43
-2.7%
473.6%
5.679
CAD 3.69
-2.9%
334.1%
0.872
USD 48.28
-3.1%
77.3%
1.968
USD 5.55
-3.3%
1337.8%
0.158
AUD 0.14
-3.4%
483.3%
0.084
USD 74.22
-3.6%
196.3%
6.648
AUD 0.53
-3.6%
171.8%
0.062
CAD 1.04
-3.7%
420.0%
0.102
AUD 8.39
-3.8%
281.4%
0.738
AUD 3.60
-4.0%
778.0%
0.554
CAD 11.13
-4.2%
359.9%
0.601
GBP 0.46
-4.4%
83.6%
0.026
CAD 1.08
-4.4%
928.6%
0.115
AUD 0.43
-4.4%
309.5%
0.560
CNY 0.28
-4.4%
357.6%
0.022
CAD 1.25
-4.6%
190.7%
0.101
USD 47.49
-4.7%
124.3%
22.814
AUD 1.01
-4.7%
258.9%
0.520
CAD 3.19
-4.8%
235.8%
0.107
CAD 5.11
-4.8%
127.1%
0.141
CNY 69.79
-4.9%
367.9%
7.274
CAD 0.19
-5.0%
533.3%
0.020
USD 39.95
-5.1%
109.1%
39.269
USD 8.80
-5.3%
317.1%
0.406
CAD 7.00
-5.3%
554.2%
0.386
CAD 4.44
-5.5%
279.5%
0.389
USD 12.05
-5.6%
245.1%
8.832
AUD 7.04
-5.6%
180.5%
1.877
CAD 3.32
-5.7%
159.4%
0.259
USD 79.35
-5.8%
405.4%
34.121
USD 40.71
-6.2%
138.8%
29.828
CAD 1.43
-6.5%
393.1%
0.078
CAD 4.44
-6.7%
372.3%
1.623
AUD 0.97
-6.7%
646.2%
0.157
CAD 5.73
-6.8%
839.3%
0.355
USD 37.13
-6.9%
234.8%
10.207
CAD 5.75
-7.0%
437.4%
0.314
AUD 0.47
-7.0%
564.3%
0.058
AUD 0.33
-7.0%
358.3%
0.125
AUD 0.33
-7.0%
489.3%
0.115
HKD 14.40
-7.1%
453.8%
0.812
USD 52.00
-7.1%
246.7%
9.913
CAD 0.91
-7.1%
149.3%
0.099
CAD 1.17
-7.1%
185.4%
0.052
AUD 0.52
-7.2%
772.9%
0.083
CAD 2.92
-7.3%
461.5%
0.119
GBP 0.13
-7.4%
49.3%
0.023
AUD 34.45
-7.5%
87.9%
15.188
AUD 1.11
-7.5%
335.3%
0.033
CAD 0.98
-7.5%
180.0%
0.044
GBP 0.43
-7.6%
203.6%
0.036
USD 4.16
-7.6%
299.6%
0.394
CAD 0.60
-7.7%
400.0%
0.184
USD 4.43
-7.7%
532.8%
0.656
CAD 0.83
-7.8%
453.3%
0.037
CAD 5.99
-7.8%
544.1%
0.181
CAD 2.44
-7.9%
136.9%
0.133
CAD 1.19
-8.5%
366.7%
0.041
CAD 6.00
-8.5%
380.0%
0.357
AUD 0.16
-8.6%
207.7%
0.062
USD 2.94
-8.7%
267.5%
0.131
CAD 0.46
-9.0%
1416.7%
0.028
AUD 3.31
-9.1%
111.5%
7.146
GBP 0.22
-9.3%
252.0%
0.098
CAD 1.85
-9.3%
3263.6%
0.248
AUD 0.78
-9.4%
112.3%
0.270
AUD 1.28
-9.9%
753.3%
0.217
CAD 1.35
-10.0%
145.5%
0.110
GBP 0.72
-10.2%
265.8%
0.140
USD 41.78
-10.3%
212.5%
15.128
CAD 2.97
-10.3%
421.1%
0.727
AUD 0.85
-10.5%
240.0%
0.053
CAD 3.21
-10.6%
664.3%
0.389
AUD 2.27
-10.6%
427.9%
0.994
CAD 0.67
-10.7%
157.7%
0.034
GBP 0.82
-10.9%
69.8%
0.262
Averages/total
-5.4%
751.8%
253.099
Weighted averages
-5.8%
190.6%
* 12-month
Source: market data; tables compiled by Barry Sergeant