Recent updates from gold players shining bright on the ASX - Kalkine Media

November 16, 2022 02:14 AM AEDT | By Aditi Sarkar
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  • Capricorn Metals stated that the Mineral Resource Estimate (MRE) at Mt Gibson increased by 32% to 2,755,000 ounces from 2,083,000 ounces.
  • During the September quarter, Kingsgate was mainly focused on refurbishment and restart of the Chatree Gold Mine.
  • Meeka Metals yielded significant gold discovery from the shallow aircore drilling at the Murchison Gold Project.

The S&P/ASX 300 Metals & Mining index includes companies from the Metals & Mining industry.

The index has gained nearly 15.85% this month and nearly 15.58% in the last 52-weeks. On that note, we at Kalkine Media® will discuss some of the stocks related to gold exploration and production from the ASX that have outperformed the index and has provided more than a 19% price return in the last 52-weeks.

Capricorn Metals Ltd (ASX:CMM)

Shares of Capricorn Metals have been trading on the ASX with a gain of around 43% in the past 52-weeks. The gold exploration company boasts two project areas in Western Australia, the Karlawinda Gold and Mt Gibson Gold projects.

Recently, the company provided an update on its resources at the Mt Gibson Gold Project. It stated that the Mineral Resource Estimate (MRE) at this project increased from 2,083,000 ounces to 2,755,000 ounces, an increase of 32%.

Earlier, the company informed the market about the resuming of load and haul mining operations at the Karlawinda Gold Project.

Kingsgate Consolidated Limited (ASX:KCN)

Kingsgate Consolidated Limited boasts the Chatree Gold Mine in Thailand and an advanced development project, Nueva Esperanza, in Chile. Stock price of the Australia-based gold and silver mining, exploration and development company has zoomed up by about 34.72% in the last 52-weeks.

During the September quarter, the company was mainly focused on refurbishment and restarting of the Chatree Gold Mine. In the December quarter, the company looks forward to focusing on the following aspects:

© 2022 Kalkine Media®, data source: company update

Meeka Metals Limited (ASX:MEK)

Shares of Meeka Metals, a gold and rare earths company, are up by nearly 20% in the last 52-weeks. Meeka is focused on the mineral assets at its flagship Murchison Gold project.

Below are the project updates of the company for the September quarter:

  • Significant gold discovery reported from shallow aircore drilling at the Murchison Gold Project (MEK 100%).
  • Diamond drilling which targeted gold at Circle Valley (MEK 100%) started in September 2022. It is expected to give valuable information for a larger drill program that is slated in January 2023.
  • Sold the Gecko North Project (E15/1587) for a total value of AU$230,000 in cash, plus a net smelter return royalty of 1.5% for all minerals that are extracted from the project.

Hawthorn Resources Limited (ASX:HAW)

Hawthorn owns an interest of 70% in the Anglo-Saxon underground gold project at Pinjin. The stock price of the diversified gold and base metals explorer has surged by around 19.44% in the last 52-weeks.

During the September quarter, the company made progress in its Pre-Feasibility Study (PFS) on its Mt Bevan magnetite (iron ore) project. Further, an exclusive Desk Top Study (DTS) was started by Hancock for critical minerals, that is, Lithium, Nickel, Copper, on the Mt Bevan JV tenements.


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