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Australiaâs benchmark index S&P ASX 200 closed at A$5773.40 today, down by 1.2 points or 0.021%. As at Jan 14, 2019, the gold price was seen to be touching around $1,290.50/oz, up by 3.70 points. In this context, we will look at two Australian gold stocks that closed in red today with the end of the trading session.
Orminex Limited (ASX:ONX)
 The shares of the small-cap gold producer, Orminex Limited crashed by 2.174% today, settling at A$0.225, with a market capitalization of A$ 123.87 million and 538.55 million outstanding shares. However, the companyâs stock has generated an impressive return of 58.62% over the last six months, although the share price increased marginally by 4.55% in last one month.
On 14 January 2019, Orminex released an operational update regarding its strategic partner GBF, experienced underground mining operator, securing the right to enter an annual lease with an option to buy Burbanks Gold Processing Mill. The proposed acquisition further strengthens the companyâs Mineral Ventures Model. The Burbanks Mill possesses an excellent capacity to process the entire Comet Vale ore on reaching the full production stage. The company also announced second gold pour after handling a further 5k tonnes of metal from the Comet Vale project, with the next phase of drilling planned for February 2019. Further, the company revealed an updated long section with the current mine plan, decline level, historical mine performance and drill results from the Comet project.
Orminex reported $1.77 million Net Loss for the year ending 30 June 2018 as compared to Net Profit of $9.41 million in the previous year. The group had a working capital surplus of $4.86 million in FY18 as compared to a deficit of $0.63 million in FY17. The net cash inflows stood at $4.42 million as compared to 0.35 million in FY17.
Gateway Mining Limited (ASX:GML)
 The shares of Gateway Mining tumbled by 16.67% today despite reporting significant growth potential at Montague Gold Deposit. The companyâs stock closed the dayâs trading session at A$0.015 as compared to the previous close of A$0.018. Although the price of the scrip is trending downward over the last six months, offering a negative return of 28%, however, the stock is generating an impressive performance of 38.46% over last month.
On 14 January 2019, Gateway Mining announced significant high-grade gold mineralization, immediately down-dip of the historical Montague open pit, part of Gatewayâs wholly owned Gidgee Gold Project in Western Australia with proximity to the recently announced results from the Whistler Deposit. All the drilling intersections to date are in shallow positions, within 100m of the surface. A significant possibility also exists to expand the zones of remnant gold mineralization in the base of the shallow historical pit. The company aims to commence a program of step-out RC before the current quarter end, to further test the extensions of the mineralization, subject to necessary approvals.
Gateway Mining reported Net Loss After Tax of $0.62 million as compared to $9.25 million for the previous year. The company significantly expanded its exploration expenditure at $3.03 million in FY18 ($0.36 million in FY17). The cash and cash equivalents stood at $1.61 million for the year. The companyâs Balance sheet reflected Net Assets of $6.71 million in the current fiscal year as compared to $1.27 million in the previous year.
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