More than ten of the world's 100 hottest listed gold stocks traded within 1% of, or at, 12-month high prices on Friday, supported by a falling dollar that assisted the boost of commodity prices across the board. The theme was further lifted by gradually more positive sentiment in markets generally.The 100 gold stocks mentioned were trading 14% below high stock prices, on average, measured on a weighted basis. This can be compared, in the broadest sense, to the benchmark all shares MSCI world equities dollar index, which was trading nearly 40% below its highs on Friday. There was also something of a sense of fever out there, with gold bullion apparently targeting a break through the $1 000 an ounce barrier.

METAL PRICES

Low*

High*

Current

From low

From high

Precious, $/oz

 

Gold

682.41

1006.29

978.76

43.4%

-2.7%

Platinum

744.25

2113.50

1177.00

58.1%

-44.3%

Palladium

160.75

478.50

233.53

45.3%

-51.2%

Silver

8.46

19.48

15.55

83.8%

-20.2%

Industrial, $/lb

Copper

1.28

4.06

2.15

68.6%

-46.9%

Aluminium

0.58

1.53

0.64

10.6%

-58.1%

Lead

0.39

1.04

0.67

73.7%

-35.6%

Tin

4.40

10.82

6.19

40.7%

-42.8%

Nickel

4.01

11.32

6.12

52.5%

-45.9%

Zinc

0.47

0.97

0.67

42.1%

-31.0%

* 12-month

 

Where the MSCI world equities dollar  index has risen by, also, 40% from its lows, seen just months ago, the 100 hottest gold stocks have risen, on average, by 147%, from low stock prices generally seen in the closing months of 2008.The 100 gold stocks selected, applying a minimum market value (capitalisation) of $20m, include smaller stocks that have risen by more than 1 000% from lows, such as Australian Solomons  (busy re-establishing operations at the Gold Ridge Project, located on Guadalcanal in the Solomon Islands), and even a couple that have gained more than 2 000%, in the shape of La Mancha Resources (with two African gold mines and one in Australia), and even some that have risen by more than 2 000%, such as Norseman Gold (an Australian gold digger listed in London, where the speculative appetitive for high flying resources stocks has become acute over the past couple of months).From a price performance viewpoint, AngloGold Ashanti ranks as the leading global Tier I gold stock. As discussed in a Mineweb article earlier this week, Paulson & Co Inc., which famously scored gains of $3.7bn betting against (mainly US) banks in 2007 and 2008 bought a $1.28bn chunk of AngloGold Ashanti following a final exit sale by Anglo American, AngloGold Ashanti's erstwhile parent.Paulson & Co also currently hold around 10% of the SPDR Gold Shares ETF, equal to more than 100 tonnes of physical gold bullion. Paulson & Co. also holds (at latest count), 2.6% of Gold Fields, 4.4% of Kinross, both global Tier I gold diggers, and 11.2% of budding producer Centamin Egypt. The gold stocks invested in by Paulson & Co. all rank among the best performing in the world, as would the SPDR Gold Shares ETF, although it does not as such classify as an operating gold company, a miner, as such.The 100 hottest gold stocks selected include entities with hybrid interests, such as Seabridge (copper) and First Uranium, and, of course, silver superman, London-listed Mexican miner, Fresnillo and gold royalty companies Franco-Nevada and Royal Gold, which, like gold ETFs, do not classify as miners as such.Most global Tier I gold stocks are represented in the top price performing 100; AngloGold Ashanti, Gold Fields, and Kinross, as mentioned, and also Newmont, Newcrest,  Lihir, Goldcorp, Zijin, Harmony, and Barrick, the world's biggest gold miner, by value and production. Those missing the Tier I cut: Yamana, Polyus, and primary copper miner, with significant gold and also molybdenum byproducts, in the form of Freeport-McMoRan.It is, however, far from a one way street for the pricing performance of stocks generally classified under the gold heading. Names trading 60% or more below 12-month high prices include Imperial Metals, New Gold, Kazakh Gold, Taseko, Rusoro Mining, Resolute, Jinshan, Highland, High River, and, of course, Crystallex.

100 SELECTED TOP PERFORMING GOLD STOCKS

Stock

From

From

Value

price

high*

low*

$ bn

Rubicon Minerals

$ 2.36

0.0%

237.1%

0.349

Medusa

AUD 2.00

0.0%

387.8%

0.266

Silver Lake Resources

AUD 0.71

0.0%

442.3%

0.086

Minera IRL

GBP 0.77

0.0%

76.9%

0.076

Olympus Pacific

CAD 0.31

0.0%

675.0%

0.066

AngloGold Ashanti

$ 42.68

-0.2%

219.2%

15.117

Randgold Resources

$ 72.32

-0.2%

224.6%

5.545

Osisko

CAD 7.15

-0.3%

410.7%

1.661

Western Goldfields

CAD 3.23

-0.3%

546.0%

0.401

Lake Shore Gold

CAD 2.22

-0.4%

270.0%

0.430

Zhongjin

CNY 76.73

-0.6%

236.5%

4.038

Eldorado

$ 10.35

-0.7%

334.9%

3.839

Iamgold

$ 11.34

-0.7%

410.8%

4.140

Sino Gold

AUD 6.52

-0.9%

175.1%

1.522

Norseman Gold

GBP 0.34

-1.5%

2133.3%

0.082

Seabridge

CAD 33.48

-1.5%

346.4%

1.140

La Mancha Resources

CAD 1.06

-1.9%

2550.0%

0.137

Andean

AUD 2.06

-1.9%

384.7%

0.760

San Gold

CAD 2.51

-2.0%

340.4%

0.542

Allied Nevada

CAD 8.50

-2.1%

312.6%

0.443

Patagonia Gold

GBP 0.12

-2.1%

187.5%

0.110

Shandong Gold

CNY 44.50

-2.2%

237.1%

4.637

Franco-Nevada

CAD 29.98

-2.5%

158.0%

2.737

Fresnillo

GBP 7.15

-2.8%

668.3%

8.230

[[SPDR Gold Shares ETF]]

$ 96.15

-2.9%

45.7%

35.201

Red Back

CAD 10.81

-3.4%

278.0%

2.253

Queenston Mining

CAD 4.45

-3.5%

485.5%

0.233

Semafo

CAD 2.36

-3.7%

214.7%

0.500

Kingsgate

AUD 6.05

-4.0%

175.0%

0.464

Alamos

CAD 9.83

-4.1%

180.9%

0.960

Real Gold

HKD 6.82

-4.2%

55.7%

0.581

Richmont Mines

CAD 4.69

-4.9%

287.6%

0.111

Zhaojin

HKD 12.56

-5.6%

575.3%

0.708

Royal Gold

$ 47.04

-5.6%

106.8%

1.915

Mindax

AUD 0.48

-5.9%

146.2%

0.049

Intrepid Mines

AUD 0.34

-6.8%

325.0%

0.113

Saracen

AUD 0.23

-8.0%

360.0%

0.036

JSC Polymetal

$ 8.51

-8.0%

751.0%

2.681

Kirkland Lake

CAD 9.55

-8.1%

279.0%

0.509

Catalpa Resources

AUD 0.10

-8.6%

405.3%

0.090

Centamin Egypt

CAD 1.53

-8.9%

255.8%

1.378

Auex Ventures

CAD 2.52

-9.0%

215.0%

0.067

Newmont

$ 48.90

-9.1%

131.0%

23.422

Int'l Tower Hill

CAD 3.40

-9.1%

217.8%

0.150

Orocobre

AUD 0.61

-9.4%

338.4%

0.032

Red 5

AUD 0.09

-9.5%

258.3%

0.045

Anatolia

CAD 3.28

-9.9%

404.6%

0.342

Lihir

AUD 3.27

-10.2%

115.1%

6.183

Australian Solomons

CAD 0.43

-10.4%

1620.0%

0.041

Pan African

GBP 0.05

-10.9%

173.3%

0.091

Orvana Minerals

CAD 0.73

-11.0%

121.2%

0.077

Newcrest

AUD 32.96

-11.3%

99.2%

12.730

Gold Fields

ZAR 109.50

-12.4%

105.6%

9.620

Orezone

CAD 0.55

-12.7%

111.5%

0.027

Hunan Chenzhou

CNY 16.88

-12.9%

183.7%

1.353

Alexis Minerals

CAD 0.58

-13.4%

176.2%

0.068

First Uranium

CAD 6.90

-13.8%

576.5%

0.952

Dominion Mining

AUD 4.90

-13.9%

156.5%

0.403

Atna Resources

CAD 0.85

-14.1%

183.3%

0.064

Northgate

CAD 2.66

-14.7%

297.0%

0.619

DRDGold

ZAR 8.10

-15.2%

183.2%

0.382

Minefinders

CAD 10.24

-15.7%

207.5%

0.550

Gammon Gold

CAD 9.34

-16.6%

248.5%

1.041

Capital Gold

CAD 0.80

-16.7%

158.1%

0.141

Conquest Mining

AUD 0.44

-17.0%

214.3%

0.095

Eurasian Minerals

CAD 1.45

-17.1%

184.3%

0.038

Lingbao

HKD 3.15

-17.5%

293.8%

0.121

Buenaventura

$ 29.26

-18.0%

225.1%

8.043

Regis Resources

AUD 0.53

-18.0%

733.3%

0.102

Moto Goldmines

CAD 4.05

-18.0%

513.6%

0.389

Goldplat

GBP 0.11

-18.5%

35.4%

0.020

Gryphon Minerals

AUD 0.34

-19.0%

476.3%

0.036

Continental Mines

CAD 1.01

-19.2%

236.7%

0.119

Aurizon

CAD 5.01

-19.7%

314.0%

0.723

Colossus Minerals

CAD 3.21

-19.8%

646.5%

0.162

Exeter Resources

CAD 3.73

-19.8%

255.2%

0.212

Kinross

$ 20.34

-19.8%

196.9%

14.124

Tanami Gold

AUD 0.04

-20.5%

600.0%

0.099

Oceanagold

AUD 1.22

-20.6%

710.0%

0.157

Paramount Gold

$ 1.64

-21.5%

645.4%

0.102

North Queensland

AUD 0.31

-21.8%

125.9%

0.036

Dynasty Metals

CAD 4.46

-21.9%

324.8%

0.144

Guyana Goldfields

CAD 4.19

-22.1%

586.9%

0.225

Jaguar

CAD 9.49

-22.5%

297.1%

0.673

Agnico-Eagle

$ 62.36

-22.8%

198.8%

9.704

Centerra

CAD 7.18

-23.2%

697.8%

1.414

CGA Mining

AUD 1.61

-23.3%

101.3%

0.327

Goldcorp

$ 40.36

-23.3%

191.6%

29.469

Apollo Gold

$ 0.47

-24.1%

370.3%

0.103

US Gold Corp.

$ 2.26

-24.4%

494.7%

0.237

Nevsun

CAD 1.64

-25.5%

368.6%

0.192

Zijin

CNY 8.57

-25.8%

127.9%

13.222

Mineral Deposits

AUD 0.70

-25.9%

150.0%

0.315

Keegan Resources

$ 2.87

-26.0%

696.6%

0.082

Hill End Gold

AUD 0.23

-26.2%

150.0%

0.055

Gabriel

CAD 2.30

-26.3%

132.3%

0.535

Harmony

ZAR 97.76

-26.4%

87.6%

5.194

Claude Resources

$ 0.81

-26.4%

575.1%

0.079

Barrick

$ 38.61

-26.4%

123.6%

33.715

Highlands Pacific

AUD 0.10

-26.7%

147.5%

0.052

Averages/total

 

-12.0%

354.0%

282.845

Weighted averages

 

-14.3%

147.1%

* 12-month

Source: market data; tables compiled by Barry Sergeant