On Australian Gold Share Investments
... the Nerds have the Numbers
The gold sector is volatile. There are over 250 gold and silver companies on the Australian Stock Exchange (ASX). All but the biggest are under the radar of market analysts, so temporary mispricings and market inefficiencies are common.
GoldNerds has provided information for investors on all the gold and silver companies on the ASX since 2007. We do an enormous amount of legwork for you. Use GoldNerds to compare companies — to find undervalued stocks to buy, and overvalued stocks to sell. GoldNerds does not recommend stocks, but it helps you make informed decisions.
Investing without GoldNerds is like being blind. Are your current gold stocks good value, compared to their peers? Subscribe to find out. One well-informed decision to buy, or sell, or not buy, can easily make you more than the cost of a subscription.
What we offer
Every two weeks (except in January), a new edition of the GoldNerds spreadsheet file with the latest information is compiled and posted to this website, and subscribers are notified by email. Subscribers can download the latest spreadsheet file at any time from this website.
Subscriptions are for either six months or twelve months. Subscribe to one of three versions: Standard, Professional, or Elite (see below).
Because it is an app rather than a plain spreadsheet, GoldNerds only runs on Excel on Windows. (Sorry, but due to limitations of Excel on the Mac it does not run, or even open, on a Mac.)
Find Cheap Gold
Did you know you can buy gold more cheaply when it is underground? Gold in an exploration lease is often less than ten dollars per ounce, and gold underneath a working mine is often only two hundred dollars an ounce. You can buy more ounces this way, for more leverage to a rising price of gold.
But you incur company risk. Bargains abound, but you may need a GoldNerds spreadsheet to find them. Stock prices in this sector are volatile, so the numbers and comparisons can quickly go out of date. GoldNerds helps you buy companies that are undervalued (compared to their peers) and sell those that are overvalued.
The in-ground cost of a company's gold is the value of the company (its market capitalization or enterprise value) divided by the number of ounces of gold it has rights over (its gold resources or reserves). The in-ground cost of gold escalates as a company (a) finds a deposit, (b) issues a resource statement, (c) does a mining study, and (d) mines the gold. However, at all these stages the cost of the in-ground gold is far lower than the cost of bullion.
Even among producing companies, there are big differences in the in-ground costs between companies. Mining costs vary between resources, and companies go in and out of favor for non-fundamental reasons. For example, here are past in-ground costs for some ASX gold producers:
Investors who believe the price of gold will increase soon generally prefer to buy a high-cost mine, because it offers greater leverage -- profit increases by a higher percentage for a given rise in the price of gold if the AISC is high. Investors who think the price of gold is stable or will decline in the near future will generally prefer a low-AISC mine, for safety. GoldNerds can display the industry cost curve (warning: past data):
For example, the gold price in USD moved up 15% in the last three months of 2022, but look at what the share prices of the leading producers and developers did:
Features
• Simple -- One company per row of the Companies sheet. Double click the start of a row to highlight it. View, sort, and filter just by clicking a few preset buttons.
• Extensive Help -- Click a help button at the top of each column to open a window with clear and concise help about what it means.
• Discover New Companies -- Most subscribers find companies of interest they hadn't known about.
• Find mispricings -- Find companies that are undervalued or overpriced, compared to their peers. One good decision more than pays for a year's subscription to GoldNerds.
• Up to date -- Every two weeks (except in January) we check the public announcements of all the companies, update the spreadsheet file, and email subscribers that the spreadsheet file has been updated, ready for download.
• Value Matters -- In the short run the market is a voting machine, but in the long run it is a weighing machine -- Benjamin Graham (sometimes attributed to Warren Buffett)
• Renew Manually -- Subscriptions are NOT automatically renewed. To renew, subscribe again.
• Entire sector -- All the companies in the gold and silver sector on the ASX are present. All the producers, developers, and explorers.
• Excel on Windows -- Requires Microsoft Excel 2010 or later, running on Windows. The GoldNerds spreadsheet does NOT work on a Mac — it will not even open. (The macros in Mac Office are incomplete.)
Versions
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Elite |
Company |
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Company Name |
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ASX Code |
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Description of projects, capital raisings, etc. |
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Historic share price (choose date) |
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Recent share price (with price updater) |
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Change in share price % |
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Capital Structure |
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Number of existing shares |
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Number of shares when fully diluted |
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Number of in-the-money options |
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Revenue from in-the-money options |
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Financial |
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Cash (with date, recent changes) |
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Investments (table, listing them) |
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Hedgebook |
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Liabilities |
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Other financial assets |
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Market capitalization |
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Enterprise value (EV) |
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Net financial assets |
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General |
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Status (producer, developer, or explorer) |
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Minerals of interest |
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% in gold |
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% in silver |
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Headquarters (state or country) |
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Mineral Estimates |
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Reserves, precious, in AuEq Moz |
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Measured and indicated, precious, in AuEq Moz |
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Resources, precious, in AuEq Moz |
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Potential, precious, in AuEq Moz |
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Mineable, non-precious, in AuEq Moz |
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Reserves, non-precious, in AuEq Moz |
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Measured and indicated, non-precious, in AuEq Moz |
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Resources, non-precious, in AuEq Moz |
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Potential, non-precious, in AuEq Moz |
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Mineable, non-precious, in AuEq Moz |
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Reserves, total, in AuEq Moz |
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Measured and indicated, total, in AuEq Moz |
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Resources, total, in AuEq Moz |
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Potential, total, in AuEq Moz |
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Mineable, total, in AuEq Moz |
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Mineable byproducts, in AuEq Moz |
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Type of mineral (gold, copper, etc.) (description only) |
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Type of estimate (proven, inferred, etc.)
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Ore |
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Grade (description only) |
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Contained metal (description only) |
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Announcement date of mineral estimate |
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Project ownership (%) |
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Mineral Estimates Window |
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Ore Calculator |
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Gross metal value |
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Gross metal value per tonne |
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Gold equivalent ounces |
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Gold equivalent grade |
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Minerals Sheet |
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Deposits by project, company, and type of estimate (filterable, sortable) |
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Type of mineral (gold, copper, etc.) (filterable, sortable) |
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Type of estimate (proven, inferred, etc.) (filterable,
sortable) |
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Ore (filterable, sortable) |
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Grade (filterable, sortable) |
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Contained metal (filterable, sortable) |
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Gross metal value (filterable, sortable) |
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Gross metal value per tonne of ore (filterable, sortable) |
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Gold equivalent ounces (filterable, sortable) |
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Gold equivalent grade (filterable, sortable) |
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Market Capitalization per Ounce |
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Market cap. per reserve oz, precious |
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Market cap. per measured-or-indicated oz, precious |
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Market cap. per resource oz, precious |
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Market cap. per mineable oz, precious |
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Market cap. per reserve oz, all metals |
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Market cap. per measured-or-indicated oz, all metals |
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Market cap. per resource oz, all metals |
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Market cap. per mineable oz, all metals |
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Enterprise
Value per Ounce |
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EV per reserve oz, precious |
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EV per measured-or-indcated oz, precious |
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EV per resource oz, precious |
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EV per mineable oz, precious |
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EV per reserve oz, all metals |
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EV per measured-or-indicated oz, all metals |
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EV per resource oz, all metals |
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EV per mineable oz, all metals |
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Mining |
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Current annual production, precious, in AuEq koz |
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Current annual production, non-precious, in AuEq koz |
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Current production, all, in AuEq koz |
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Future production, all, in AuEq koz |
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Reserve life |
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Market cap. per current production ounce |
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EV per current production ounce |
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Costs |
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Construction costs |
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AISC, last quarter |
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AISC, last year |
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AISC, future |
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AIC, last quarter |
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AIC, last year |
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Total
Cost of Ownership (TCO) |
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Current TCO |
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Future TCO |
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Free
Cash Flow (FCF) |
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FCF |
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EV Per FCF |
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Price per FCF |
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Other |
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GDXJ Index % |
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Sovereign risk |
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Tier 1 % |
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Dividends, last year |
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Dividend yield |
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CommSec lending ratio |
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Leveraged Equities lending ratio |
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Score |
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Six custom columns |
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Testimonials
Companies Currently on the GoldNerds Spreadsheet
Here are all the companies on the Australian Stock Exchange (ASX) whose value or focus is at least 50% on gold or silver — as of September 23, 2024. We're so confident we've got the whole sector that if you tell us about a company we haven't included — and which is not already in the research pipeline, as is typical for recent IPOs — we'll email you the current and the next two professional spreadsheets for free. (If you are already a subscriber, we'll add a month to the end of your current subscription.)
Link to this list with https://goldnerds.com.au/#companies.
Alphabetical by company name (not by ASX code):
- A
- AIV — Activex
- ADG — Adelong Gold
- ADT — Adriatic Metals
- A1G — African Gold
- A1M — AIC Mines
- ALY — Alchemy Resources
- AL8 — Alderan Resources
- AQI — Alicanto Minerals
- AQX — Alice Queen
- ALK — Alkane Resources
- AME — Alto Metals
- ASL — Andean Silver
- AAU — Antilles Gold
- AZY — Antipa Minerals
- ADV — Ardiden
- ARD — Argent Minerals
- ARV — Artemis Resources
- AS1 — Asara Resources
- ASR — Asra Minerals
- ASO — Aston Minerals
- AAR — Astral Resources
- AAM — AuMega Metals
- AWJ — Auric Mining
- AUR — Auris Minerals
- AUE — Aurum Resources
- AUN — Aurumin
- AUC — Ausgold
- AYT — Austin Metals
- AGD — Austral Gold
- A8G — Australasian Metals
- AYM — Australia United Mining
- AGC — Australian Gold & Copper
- B
- BMR — Ballymore Resources
- BGD — Barton Gold
- BCN — Beacon Minerals
- BGL — Bellevue Gold
- BNZ — Benz Mining
- BEZ — Besra Gold
- BC8 — Black Cat Syndicate
- BDG — Black Dragon Gold
- BMG — BMG Resources
- BML — Boab Metals
- BOC — Bougainville Copper
- BPM — BPM Minerals
- BTR — Brightstar Resources
- C
- CAE — Cannindah Resources
- CRS — Caprice Resources
- CMM — Capricorn Metals
- CNB — Carnaby Resources
- CAV — Carnavale Resources
- CPN — Caspin Resources
- CDT — Castle Minerals
- CTN — Catalina Resources
- CYL — Catalyst Metals
- CVR — Cavalier Resources
- CHN — Chalice Mining
- CEL — Challenger Gold
- CTO — Citigold Corporation
- CLZ — Classic Minerals
- CDR — Codrus Minerals
- D
- DTM — Dart Mining
- DTR — Dateline Resources
- DEG — De Grey Mining
- DBO — Diablo Resources
- DUN — Dundas Minerals
- E
- E79 — E79 Gold Mines
- EMR — Emerald Resources
- ERM — Emmerson Resources
- EMU — Emu
- EQE — Equus Mining
- ERW — Errawarra Resources
- EMC — Everest Metals
- EVN — Evolution Mining
- F
- FAL — Falcon Metals
- FEG — Far East Gold
- FNR — Far Northern Resources
- FXG — Felix Gold
- FFM — Firefly Metals
- FAU — First Au
- FG1 — Flynn Gold
- FML — Focus Minerals
- FRS — Forrestania Resources
- G
- GAL — Galileo Mining
- GML — Gateway Mining
- GBZ — GBM Resources
- GMD — Genesis Minerals
- GES — Genesis Resources
- GPR — Geopacific Resources
- GIB — Gibb River Diamonds
- G50 — Gold 50
- GOR — Gold Road Resources
- G88 — Golden Mile Resources
- GSM — Golden State Mining
- GBR — Great Boulder Resources
- GDM — Great Divide Mining
- GSN — Great Southern Mining
- H
- HMG — Hamelin Gold
- HAR — Haranga Resources
- HAV — Havilah Resources
- HRN — Horizon Gold
- HRZ — Horizon Minerals
- I
- ICL — Iceni Gold
- IDA — Indiana Resources
- IVR — Investigator Resources
- K
- KAI — Kairos Minerals
- KAU — Kaiser Reef
- KZR — Kalamazoo Resources
- KAL — Kalgoorlie Gold Mining
- KLI — Killi Resources
- KCN — Kingsgate
- KSN — Kingston Resources
- KNB — Koonenberry Gold
- KTA — Krakatoa Resources
- L
- LRL — Labyrinth Resources
- LRV — Larvotto Resources
- LAT — Latitude 66
- LCL — LCL Resources
- LEX — Lefroy Exploration
- LGM — Legacy Minerals
- LDR — Lode Resources
- LYN — Lycaon Resources
- M
- M3M — M3 Mining
- MAG — Magmatic Resources
- MAU — Magnetic Resources
- MKG — Mako Gold
- M24 — Mamba Exploration
- MHC — Manhattan Corporation
- MTL — Mantle Minerals
- MKR — Manuka Resources
- MPK — Many Peaks Minerals
- MEU — Marmota
- MMA — Maronan Metals
- MVL — Marvel Gold
- MAT — Matsa Resources
- MXR — Maximus Resources
- MM8 — Medallion Metals
- MEK — Meeka Metals
- MEG — Megado Minerals
- MBK — Metal Bank
- MHK — Metal Hawk
- MCT — MetaliCity
- MTC — MetalsTech
- MI6 — Minerals 260
- M2R — Miramar Resources
- MTH — Mithril Silver and Gold
- MOH — Moho Resources
- MRZ — Mont Royal Resources
- M2M — Mt Malcolm Mines
- N
- NAG — Nagambie Resources
- NMR — Native Mineral Resources Holdings
- NES — Nelson Resources
- NAE — New Age Exploration
- NTL — New Talisman Gold Mines
- NEM — Newmont Corporation
- NXM — Nexus Minerals
- NFL — Norfolk Metals
- NSM — North Stawell Minerals
- NST — Northern Star Resources
- NWM — Norwest Minerals
- NVA — Nova Minerals
- NVO — Novo Resources
- O
- ODY — Odyssey Gold
- OBM — Ora Banda Mining
- OAU — Ora Gold
- OMX — Orange Minerals
- OZM — OzAurum
- OZZ — OZZ Resources
- P
- PGO — Pacgold
- PNR — Pantoro
- PTN — Patronus Resources
- PKO — Peako
- PGD — Peregrine Gold
- PRU — Perseus Mining
- PGM — Platina Resources
- POD — Podium Minerals
- PXX — PolarX
- POL — Polymetals Resources
- PDI — Predictive Discovery
- PRX — Prodigy Gold
- PRS — Prospech
- Q
- QXR — QX Resources
- R
- RMS — Ramelius Resources
- RND — Rand Mining
- RR1 — Reach Resources
- RED — Red 5
- RMX — Red Mountain Mining
- RC1 — Redcastle Resources
- R8R — Regener8 Resources
- RRL — Regis Resources
- RNX — Renegade Exploration
- RSG — Resolute Mining
- REZ — Resources & Energy Group
- RIE — Riedel Resources
- RCR — Rincon Resources
- RXL — Rox Resources
- S
- S2R — S2 Resources
- SMI — Santana Minerals
- SRR — Sarama Resources
- STN — Saturn Metals
- SVG — Savannah Goldfields
- SNX — Sierra Nevada Gold
- SVL — Silver Mines
- SNG — Siren Gold
- SKY — Sky Metals
- SLS — Solstice Minerals
- SMM — Somerset Minerals
- SXG — Southern Cross Gold
- SPR — Spartan Resources
- SSR — SSR Mining
- SBM — St Barbara
- SMS — Star Minerals
- STK — Strickland Metals
- SLZ — Sultan Resources
- SS1 — Sun Silver
- SHN — Sunshine Metals
- STM — Sunstone Metals
- SPQ — Superior Resources
- T
- TLM — Talisman Mining
- TAM — Tanami Gold
- TG1 — TechGen Metals
- TEM — Tempest Minerals
- X64 — Ten Sixty Four
- TMS — Tennant Minerals
- TMX — Terrain Minerals
- TSO — Tesoro Gold
- TGM — Theta Gold Mines
- TMZ — Thomson Resources
- TTM — Titan Minerals
- TOR — Torque Metals
- TRE — Toubani Resources
- TKL — Traka Resources
- TBR — Tribune Resources
- TRM — Truscott Mining
- TCG — Turaco Gold
- U
- USL — Unico Silver
- V
- VTX — Vertex Minerals
- W
- WA8 — Warriedar Resources
- WAF — West African Resources
- WWI — West Wits Mining
- WSR — Westar Resources
- WGR — Western Gold Resources
- WGX — Westgold Resources
- WIA — Wia Gold
- WC8 — Wildcat Resources
- WIN — WIN Metals
- X
- XAM — Xanadu Mines
- Y
- YRL — Yandal Resources
- Z
- ZAG — Zuleika Gold