Gold has been the commodity of the year so far with prices surging considerably since the onset of the year 2020 amid widespread panic and falling risk appetite on the equity front across the globe. A considerable surge in gold prices has supported the share of ASX-listed gold mining companies, providing a strong return to shareholders.
Gold prices are vaulting higher with each passing day over the rise in market fear in the wake of the relentless increase in COVID-19 cases across the United States, Brazil, and India. The gold spot contoured another multi-year of USD 1,797.59 on 7 July 2020 and is currently hovering around the same at USD 1,794.83 (as on 8 July 2020 12:37 PM AEST).
Having said that lets have a look at some interesting ASX listed stocks recognized by Kalkine.
Red 5 Limited (ASX: RED) an Australia-based gold producer that owns and operates the Darlot Gold Mine and the King of the Hills (KOTH) Gold Project, both located in Western Australia. When these mines were acquired by RED, both of these had less than six months of Ore Reserves, however, the company has been able to execute successful mining programs with limited high-grade Reserves. As a result of which, the life of both mines has been progressively expanded.
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