The All Ordinaries Index (ASX: XAO) has returned 6.9% over the past 12 months, with ASX All Ords gold stock Strickland Metals Ltd (ASX: STK) leaving those gains in the dust.
Strickland Metals shares closed on Wednesday trading for 20.5 cents apiece. That sees the share price up a sizzling 169.7% since 28 January 2025, when you could have snapped up shares for just 7.6 cents each.
As you can likely guess, the record smashing gold price counts among the tailwinds that have been sending the ASX All Ords gold stock surging. On Wednesday, gold was trading for US$5,180 per ounce, putting the yellow metal up 89% in 12 months.
Investor interest has also been roused by a series of exploratory drilling successes at the company’s 100%-owned 8.6-million-ounce gold equivalent Rogozna Project, located in Serbia.
And with further drilling results pending and potentially driving a resource upgrade, the analysts at Canaccord Genuity believe the next 12 months could be even more profitable for shareholders.
Here’s why.
ASX All Ords gold stock hits rich new intercepts
Last week, on 20 January, Strickland Metals reported on the latest assay results from its 5.3-million-ounce gold equivalent Shanac Deposit. Shanac sits within the broader Rogozna Project.
Top results reported by the ASX All Ords gold stock included 37.2 metres at 1.1 grams of gold equivalent per tonne from 284.4 metres, and 113.4 metres at 1.7grams of gold equivalent per tonne from 451.0 metres.
Strickland managing director Paul L’Herpiniere was clearly pleased with the assays. He said:
The three diamond holes reported in this announcement all returned outstanding zones of strong copper-gold mineralisation, reinforcing the scale, quality and potential of our cornerstone ~5.3Moz AuEq Shanac Deposit.
L’Herpiniere noted that the latest results will contribute towards an updated Mineral Resource Estimate for Shanac, which the company said remains on track to be reported later this quarter.
Encouragingly, Strickland remains well-funded for its 2026 exploration program. The miner reported holding cash and liquid investments of $38.2 million at the end of the December quarter.
What is Canaccord saying?
In a new report following on the ASX All Ords gold stock’s latest drilling results, Canaccord said:
Recent assay results from three diamond drill holes continue to demonstrate the presence of both bulk-tonnage mineralisation and discrete higher-grade zones within the central and southern domains of the deposit.
As for what could help boost Strickland Metals shares in the months ahead, the broker added:
Drilling at Shanac concluded in late December 2025, with multiple assays still pending across the broader Rogozna Project. These results, together with recent drilling, are expected to underpin a material update to the Shanac resource according to STK.
Connecting the dots, Canaccord has a speculative buy rating on the ASX All Ords gold stock with a 65-cent price target.
That represents a potential upside of 217% from Wednesday’s closing price.
The post Why this rocketing ASX All Ords gold stock is forecast to leap another 217% appeared first on The Motley Fool Australia.
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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