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5 of the best ASX gold stocks in Q4 2022

Gold is one of the world’s most venerable and popular investment assets. This list of the five best ASX gold stocks provides options to investors for gaining exposure to gold via equities.

Source: Bloomberg

As one of the world’s oldest forms of money, gold has been a highly popular means for people to amass and safeguard their wealth for thousands of years.

Unlike other metals, gold does not rust or corrode, making it an ideal substance to serve as a long-term storehouse of wealth. It is also prized for its beauty and malleability, lending itself to the creation of jewelry and ornamental items in many places around the world since antiquity.

In the modern era, gold has also found a range of industrial applications, mainly in the manufacture of electronics. Gold is resistant to corrosion and a highly efficient conductor, making it an excellent substance for the fine wiring in electronic devices that can range from smartphones to desktop computers.

In the realm of finance and money, gold continues to retain a strong appeal in the modern era. Until the 1970s, it served as the basis for the statutory currencies issued by the world’s advanced economies. While many monetary policy experts continue to call for a return to the gold standard in the present day.

Advocates of gold investment favour the precious metal because of its finite supply on the earth. They claim that the scarcity of gold makes it a safe-haven investment during inflationary episodes that can erode the wealth of other types of assets.

Gold is also an appealing asset because of its nature as a tangible substance that people can physically handle and store, providing many investors with a great sense of reassurance. This advantage also creates challenges, however, as ownership of large amounts of gold also requires the use of physical storage locations with strict security measures to prevent theft.

For this reason, equities are an effective means for gold-inclined investors to gain exposure to the precious metal. Instead of buying and holding physical gold themselves, investors can acquire stakes in gold-producing companies to reap the potential benefits of any appreciation in the precious metal’s value.

Given the tremendous wealth of its mineral deposits and the scale and sophistication of its mining sector, Australia is host to a variety of listed companies in the gold sector for investors to consider.

Here is a list of five of the top ASX-listed gold stocks, to help those investors keen on stepping up their exposure to bullion.

1. Newcrest Mining Limited

2. Northern Star Resources

3. Evolution Mining

4. Perseus Mining

5. Gold Road Resources

1. Newcrest Mining Limited

Newcrest is the biggest ASX-listed gold producer and one of the largest gold producers in the world. Headquartered in Melbourne, Newcrest has its origins in the Newmont Mining Corporation, which was founded in 1966 as a subsidiary of a New York-based company bearing the same name.

Newcrest operates mines in Australia, Canada and Papua New Guinea. One of its key assets is the Brucejack gold mine which is situated 950 kilometres from the Canadian city of Vancouver. According to Newcrest, Brucejack is one of the highest-grade operating gold mines in the world.

Another key asset is the Cadia gold and copper mine which is located 25 kilometres away from Orange in New South Wales. Newcrest claims that Cadia is one of Australia’s biggest gold mining operations.

2. Northern Star Resources

Perth-headquartered gold miner Northern Star Resources has operations across both Australia and the state of Alaska in the United States. The company has seen strong growth in its portfolio of assets since the acquisition of Western Australia’s Paulsens mine in July 2010.

According to Northern Star, its three key assets are the world-class gold production centres of Kalgoorlie and Yandal in Australia and Pogo in Alaska, all of which are categorised as highly prospective geological settings in jurisdictions with low sovereign risk.

Kalgoorlie has been an active gold mining area since the late 19th century, following the discovery of one of the richest gold deposits in the world at the Golden Mile in 1893.

3. Evolution Mining

Founded in 2011 and headquartered in Sydney, Evolution Mining has projects across New South Wales, Queensland, Western Australia and the Canadian province of Ontario.

Key assets include Cowal in New South Wales, Mungari in Western Australia, Mt. Rawdon and Ernest Henry in Queensland, and Red Lake in Ontario, Canada.

Cowal is Evolution’s highest gold producer and is billed by the company as a “world-class open pit gold operation”. The asset is situated 350 kilometres west of Sydney and has achieved 227,105 ounces of gold production at an All-in Sustaining Cost (AISC) AISC of AU$1,245 per ounce.

Red Lake is Evolution Mining’s latest acquisition, following the Toronto Stock Exchange-listed Battle North Gold purchase for CAD$343 million in May 2021.

4. Perseus Mining

Founded in 2004 and headquartered in Perth, Perseus Mining focuses on gold mining operations in Sub-Saharan Africa. The company’s key assets are situated in the adjacent countries of Côte d'Ivoire and Ghana on the western coast of Africa.

Perseus Mining’s flagship projects include the Edikan Gold Mine in Ghana and the Sissingué Gold Mine and Yaouré Gold Mine in Côte d'Ivoire.

Perseus expects its combined gold production from existing assets to reach 500,000 ounces per annum in 2022.

5. Gold Road Resources

Founded in 2004 as a private company under the name Faulkner Resources, Gold Road achieved its initial success by acquiring key gold assets situated in the Yamarna Greenstone Belt of Western Australia.

Gold Road also has a 50% stake in the Gruyere Gold Mine in Western Australia. Gruyere is a tier-1 gold operation with a projected annual output of 350,000 ounces from 2023 and a projected mine life of more than a decade.

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