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Best 5 ASX Gold Stocks (Updated February 2022)
Feb. 07, 2022 01:55PM PST
The gold price is trading lower than some market watchers would prefer, but the top-performing ASX gold stocks so far this year are making leaps.
Click here to read the latest best ASX gold stocks article.
2021 was a disappointing year for gold, but analysts remain optimistic on the outlook for 2022.
By the end of 2021, the gold price had shed 6 percent after an impressive 2020. Heading into the new year, the metal continues to trade in a choppy sideways pattern, fighting to stay around the US$1,800 per ounce level.
Even so, experts see momentum for the yellow metal moving forward due to factors like continued global economic uncertainty related to the COVID-19 pandemic. Demand for gold jewelry, gold bars and coins, and the metal’s use in the technology sector are still going strong, and supply is also a growing concern due to decreased gold exploration efforts in recent years, especially among larger companies.
In this gold price environment, a number of Australian gold stocks are performing well despite the headwinds.
Here the Investing News Network looks at the best ASX gold stocks of 2022 by year-to-date share price performance. The best ASX gold stocks list below was generated on February 7, 2022, using TradingView’s stock screener, and all gold stocks listed had market caps above AU$30 million at that time.
1. Xantippe Resources
Year-to-date gain: 120 percent; current share price: AU$0.011
Xantippe Resources (ASX:XTC) is focused on Western Australia's Southern Cross region, which is widely known for its past gold production. The precious metals explorer's Southern Cross project is made up of 20 prospecting licences and six exploration licences, and holds a number of key priority prospects.
A slew of work was completed at Southern Cross in 2021, although more recently Xantippe has been working on expanding into the lithium space in both Argentina and Bolivia.
2. Minrex Resources
Year-to-date gain: 97.67 percent; current share price: AU$0.085
Minrex Resources’ (ASX:MRR) assets include five gold and base metals projects in Western Australia, four of which are in the mineral-rich East Pilbara region.
The company started off the year with high-grade gold drilling results from its work on the Queenslander gold prospect within its Sofala project. The prospect is centered around the past-producing Queenslander mine.
3. Pacgold
Year-to-date gain: 67.59 percent; current share price: AU$0.905
Gold exploration company Pacgold (ASX:PGO) owns the Alice River gold project in North Queensland. The company has identified high-grade gold targets along a 30 kilometer corridor in a historically producing goldfield.
Most recently, Pacgold’s exploration team announced the expansion of a newly discovered high-grade gold zone along strike of the historical open pit on the property. The company’s exploration work at Alice River is guided by the mineralisation model for the Donlin gold deposit in Alaska.
4. Ardiden
Year-to-date gain: 54.55 percent; current share price: AU$0.017
Ardiden’s (ASX:ADV) flagship asset is the district-scale Pickle Lake gold project located within the prolific gold-mining district of Northwestern Ontario. The 870 square kilometer land package hosts three existing gold deposits and 22 other identified brownfield and greenfield gold prospects.
A 4,000 meter exploration campaign is now underway on the western hub of the Pickle Lake gold project. Ardiden also has a free carried 49 percent interest in a lithium joint venture project in Ontario with Green Technology Metals (ASX:GT1) and owns a 4.9 percent equity holding in that company.
5. Aston Minerals
Year-to-date gain: 47.62 percent; current share price: AU$1.99
Gold explorer Aston Minerals (ASX:ASO) is moving forward at its Edleston gold project, located in the Cadillac-Larder Lake fault zone of Canada's Abitibi greenstone belt. Edleston is its flagship asset, and according to the company, it is the first in over a decade to drill in this area.
Aston continues to focus on gold at Edleston, but the Boomerang nickel-cobalt target has come to the forefront in recent months, with the company announcing the results of its maiden hole there in early December.
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Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.
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