Which TSXV-listed junior gold stocks have performed the best so far this year? Our list includes the five biggest gainers.
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Gold has seen highs and lows so far in 2022. Russia's invasion of Ukraine in late February led to a short-lived spike to over US$1,970 per ounce, and the metal continued to rise to a year-to-date high of US$2,069 in early March. However, since then it has been moving downward.
As of June 7, gold was sitting just above US$1,850, and it has been trading in that range since early May. Gold wasn't alone in its price decline though, as global stock markets and commodities also fell significantly last month. Of course, this affected companies operating in the sector as well.
Byron King joined the Investing News Network recently to discuss the state of the gold market. "The gold sector, the precious metals sector, has been badly beaten up by the market. I think there are plenty of nice pickings out there," he said. "I don't know that you want to go out there and spend everything, put every dime you have into an array of stocks tomorrow or the next day. No, you just want to buy selectively."
The best junior gold stocks list below shows the TSXV-listed companies focused on the yellow metal with the biggest year-to-date share price gains. It was generated on June 7, 2022, using TradingView’s stock screener, and all stocks included had market caps above C$10 million at that time.
Year-to-date gain: 89.29 percent; market capitalization: C$234.21 million; current share price: C$0.265
Reunion Gold is focused on the Guiana Shield, with projects in Guyana, Suriname and French Guiana. The company has a 50/50 alliance with Barrick Gold (TSX:ABX,NYSE:GOLD) for its NW Extension in Suriname. Its primary focus is its Oko West project in Guyana, where it has spent much of 2021 and 2022 drilling.
After seeing positive price movement early in the year, Reunion Gold has continued that trend. Earlier in the year, on February 24, the company announced that it had drilled its two deepest gold intercepts at Oko West. Its share price climbed to a year-to-date high of C$0.35 on March 29, and on May 4, Reunion Gold shared exploration results from its drilling at Oko West. Most recently, the company commenced trading on the OTCQB under the ticker symbol RGDFF, which led to another positive price gain for Reunion Gold.
Year-to-date gain: 65.38 percent; market capitalization: C$51.89 million; current share price: C$0.215
GoldQuest Mining has gold and copper properties in the Dominican Republic. Its primary focus is the development of the Romero project, and according to the company, its board and management team have experience developing a mine in the country that is still in operation. GoldQuest is also exploring its Tireo property.
GoldQuest shares jumped from C$0.14 to C$0.30 to start the year, and fluctuated within a range of C$0.24 to C$0.36 through mid-April, although during that time the company only released one piece of news. That came on March 31, when it provided an update on Romero. GoldQuest is working with the Dominican Republic government to receive an exploitation license for the property, but does not yet have a timeline on when that could be granted.
Although it didn’t release further news until June 2, GoldQuest’s share price fell in late April before settling around C$0.16 in May. Its June news, the appointment of Luis Santana Pereyra as CEO, provided the firm with a bump.
Year-to-date gain: 47.62 percent; market capitalization: C$209.54 million; current share price: C$1.55
Lion One Metals is working to bring its 100 percent owned and fully permitted Tuvatu alkaline gold project into production in Fiji. According to the company, it is focused on “environmentally responsible construction, development, and advancement” of the project.
Lion One’s most significant price movement of the year came in the first week of June. Its share price started the month at C$1.03 and jumped to a year-to-date high of C$1.58 on June 8. On May 31, the company shared the latest results from its Phase 2 infill drill program. The announcement states that the intercepts show high to bonanza grades; one such intercept shows 18.47 grams per metric ton (g/t) over 1.2 meters and 587.07 g/t over 0.3 meters. Since then, Lion One has shared its 2022 overview, and reported the discovery of a major new feeder structure at Tuvatu. A new intercept brought results of 20.86 g/t over 75.9 meters, including 90.35 over 7.2 meters.
“Our immediate priority is to follow up of this significant discovery with additional drilling in what remains a relatively poorly drilled portion of the Tuvatu system. Lion One, is now more than ever, convinced of the potential of Tuvatu to become a prominent, multi-million ounce Au deposit at the top of the Au grade distribution worldwide,” Lion One Senior Vice President of Exploration Sergio Cattalani said.
Year-to-date gain: 46.99 percent; market capitalization: C$90.63 million; current share price: C$0.61
G2 Goldfields is focused on exploration in Guyana, where its flagship property is its Oko-Aremu gold project. The company has completed 116 holes worth of drilling at the property, and it has the option to acquire a 100 percent interest in the project through further exploration. G2 Goldfields also has two other projects in the country, the Peters and Jubilee past-producing mines, both of which it is planning to explore in 2022.
After a slow start to the year in terms of G2 Goldfields' share price performance, March and April saw its price trend upwards to reach a year-to-date high of C$0.81. During this time, G2 Goldfields released three exploration updates for the Oko main zone at Oko-Aremu, as well as the zone’s maiden mineral resource estimate. The report shows an indicated resource of 220,000 ounces of gold and an inferred resource of 974,000 ounces. The company's share price trended downwards in May and has since stabilized around C$0.65. Its most recent news is the filing of its NI 43-101 technical report for Oko on June 1.
Year-to-date gain: 35.16 percent; market capitalization: C$98.39 million; current share price: C$1.23
Advanced-stage exploration company Mayfair Gold is focused on its Fenn-Gib gold project in Ontario's Timmins gold camp in the Abitibi gold belt. The project hosts 2.08 million indicated ounces of gold.
Mayfair’s share price spent the first quarter of the year climbing during multiple positive exploration updates from the company’s work at Fenn-Gib, including the announcement of positive metallurgical test results at the project. On April 6, Mayfair shared an update on exploration at Fenn-Gib, and this drove shares even higher, eventually culminating in a year-to-date high of C$1.59 on April 14. Following that, the company’s share price sank through mid-May, but it has since regained some of those losses.
In recent news, on May 31, Mayfair announced that it has become Canada’s first carbon-neutral gold project following its purchase of carbon offsets to match its 2021 emissions. A week later, the company completed its maiden drill program at Fenn-Gib’s South Block, and followed that up with further drill results the next day.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.