Scan through 10 biggest ASX listed precious metal stocks amid rising Omicron fear

Highlights

  • Gold and silver rebounded amid fear of the new variant of coronavirus.
  • Vaccine manufacturer, Moderna stated that the current vaccine has lower efficiency on the new variant of coronavirus.
  • US Federal Reserve Chairman, Jerome Powell suggested that the central banks might ramp up tapering of their monthly asset purchases in the near term.

The prices of precious metals were in a roller coaster ride this week with both the precious metals including gold and silver inching higher.

Gold and silver rebounded slightly amid fear the new variant of coronavirus (Omicron). Adding to this, the drugmaker Moderna stated that vaccine is less efficient against the new variant. The statement sparked the fear of lockdown among the investors.

Biggest ASX Metal Stocks to Eye amid Rising Omicron Fears

Additionally, the prices of both precious metals were also supported by the disappointing US consumer confidence data. However, the prices slipped again after the US Federal Reserve Chairman, Jerome Powell suggested that the central banks might ramp up tapering of its monthly asset purchases in the near term.

Related read: ASX small cap gold stocks to look out for

Against this backdrop, let's have a look at the ten biggest ASX-listed precious metal stocks.

ASX iron ore stocks

Source: ASX as of 1 December 2021

Newcrest Mining

Founded in 1990, Newcrest Mining (ASX:NST) is engaged in the sale of gold and copper concentrates. The company holds Cadia and Telfer projects in Australia. The miner released a technical report on its Red Chris project on 30 November 2021.

Kirkland Lake Gold

Kirkland Lake Gold (ASX:KLA) is a Canada-based gold miner having various gold projects in Australia's Northern Territory. On 30 November 2021, KLA reported EPA Notice for Fosterville mine, located in Australia. 

Anglogold Ashanti

Headquartered in Johannesburg, South Africa, Anglogold Ashanti (ASX:AGG) holds a diverse portfolio in America, Australia, and South Africa. The gold player recently appointed Mr Scott P Lawson as an independent non-executive director of the Company effective from 1 December 2021.

Northern Star Resources

Northern Star Resources (ASX:NST) is a Western Australia and Northern Territory-focused gold miner that holds low-cost, high-grade underground gold mines. The miner inked a convertible funding agreement with Osisko Mining on 1 December 2021.

Related read: Six ASX-listed gold stocks for 2022

Evolution Mining

Evolution Mining (ASX:EVN) is a gold-focused miner based in Sydney, Australia. The company holds various gold mining projects in New Zealand and Australia. On 25 November 2021, the chairman of the company addressed shareholders at its 2021 Annual General Meeting.

Chalice Gold Mines

Chalice Gold Mines (ASX:CHN) is Australia based gold and base metal player. The miner has reported the maiden mineral resource estimate for the Gonneville Deposit at its 100%-owned Julimar Nickel-Copper-Platinum Group Element (PGE) Project, located in Western Australia.

Perseus Mining

Gold bars

Source: © Theohudayanto | Megapixl.com

Perseus Mining (ASX:PRU) holds and operates Sissingué Gold Mine in Côte d’Ivoire, Grumesa Gold Project, Yaoure Gold Project and Edikan Gold Mine in Ghana. On 25 November, the managing director of the company addressed the shareholders at the Annual General Meeting.

Related read: Here’s how ASX-listed gold miners have fared after a fall in gold prices

Oceanagold Corporation

Oceanagold Corporation (ASX:OGC) is a leading Pacific region gold producer with operating assets in the Philippines, New Zealand, and the US. The miner announced the start of processing at Didipio during the start of November 2021.

De Grey Mining

Founded in 2002, De Grey Mining (ASX:DEG) is a precious metal player. The miner has reported the latest resource infill drilling results from the Brolga zone at Hemi on 11 November. The drilling at the site was undertaken as a part of the pre-feasibility study of the Mallina Gold Project.

Silver Lake Resources

Silver Lake Resources (ASX:SLR) is a Western Australia-focused gold player. The company holds tenements in the Mount Monger goldfields. In late November, the miner announced the acquisition of Harte gold credit facilities which is a TSX-listed gold mining company that owns and operates the Sugar Zone mine in Ontario, Canada.

Related read: Top ten fully franked gold stocks with high dividend yield

Bottom Line

The prices of precious metals rebounded on fear of the new variant of coronavirus and a hawkish remark from the Federal Reserve chairman, Jerome Powell that the central banks are planning to speed up their bond-buying taper during the December meeting.

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