ASX gold shares have been riding high in 2022 on the back of galloping gold prices.
Initially fuelled by the spectre of rising inflation and more recently by Russia’s invasion of neighbouring Ukraine, gold has soared from US$1,829 at the beginning of the year to US$1,929 today.
That 5.5% boost has helped propel the S&P/ASX All Ordinaries Gold Index (ASX: XGD) to a 4.4% year-to-date gain, even as the All Ordinaries Index (ASX: XAO) has fallen 5.7%.
While not all ASX gold shares have matched those gains, some have done much better.
Below we take a look at 3 little-known junior gold miners whose share prices are going gangbusters.
ASX gold share nears first gold pour
Our first outperforming junior gold miner is Calidus Resources Ltd (ASX: CAI).
The Calidus share price has leapt 23.9% since the opening bell on 4 January. That gives Calidus a market cap of $326 million.
Investors have rewarded the miner following a series of positive exploration and production announcements this year.
The most recent boost came on 28 February, when the ASX gold share reported it was on track for its first gold pour, approximately 10 weeks down the road.
Junior gold miner with a foothold in lithium
Our second booming ASX gold share is Castle Minerals Ltd (ASX: CDT), which also has exposure to lithium.
The Castle Minerals share price has leapt 42.5% this year, giving the miner a market cap of $52 million.
Castle Minerals has released a number of positive announcements in 2022, including exploration license approvals and the identification of 4 high priority gold and lithium targets at its Beasley Creek project in Western Australia.
This ASX gold share leads the pack
Leading the pack of the 3 ASX gold shares under our spotlight today is West Wits Mining Ltd (ASX: WWI).
The West Wits share price has surged 50% since the opening bell on 4 January. It now has a market cap of $81 million.
In February, West Wits reported that its Witwatersrand Basin Project in South Africa had successfully produced its first ore. The company said the project “is enroute to becoming a large gold mine in South Africa, ultimately targeting production of up to 95,000 ounces” of gold per year.
The post 3 ASX junior gold mining shares going gangbusters in 2022 appeared first on The Motley Fool Australia.
Should you invest $1,000 in West Wits Mining right now?
Before you consider West Wits Mining, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and West Wits Mining wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
More reading
- The miner’s ore reserves are climbing, so how is the Newcrest (ASX:NCM) share price responding?
- Here’s why this ASX graphite share just leapt 9%
- Here’s why the Global Lithium (ASX:GL1) share price is soaring 18% today
- Here’s why the Woolworths (ASX:WOW) share price is sliding today
- Better buy: Apple or all 30 Dow Jones stocks?
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 Bruce Jackson.
from The Motley Fool Australia https://ift.tt/4f1DmWE
Leave a Reply