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Time of India
14-05-2025
- Business
- Time of India
Mid & smallcaps will consolidate till earnings recover, says Shridatta Bhandwaldar
Shridatta Bhandwaldar , Head of Equities at Canara Robeco AMC, believes India's equity story needs a more balanced, professionally managed asset allocation approach. In this interview, he breaks down the rationale behind launching the Canara Robeco Multi Asset Allocation Fund and his outlook on small and midcap stocks. Edited excerpts: What was the core insight or market gap that inspired the launch of the Canara Robeco Multi Asset Allocation Fund—why now, and why this mix? Investors and households are persistently making asset allocation choices between – equities, fixed deposits, real estate, fixed income, precious metals etc. Fundamentally when you look at current asset allocation in a typical Indian household, it's skewed towards Fixed deposits and real estate. When you look at this skew – you know that there is a need for a professional approach to asset allocation to find a balance between risk and returns. Also, we observed that investors are either hyperactive or passive in their asset allocation approach. Fundamentally, Canara Robeco Multi Asset Allocation Fund will help investors to professionally manage asset allocation between equity & equity related instruments, debt instruments and Gold and Silver Exchange Traded Fund (ETF). We believe that there is a need for this product and as CRAMC, we can add value to investors through this category. Gross equity of 65% is chosen to ensure superior risk adjusted returns over period and equity taxation benefits. This apart, on 'why now'; in our opinion, Multi Asset Allocation Fund, being an all-weather category, timing the launch of the product has low relevance. Multi-asset strategies sound like the new black in a volatile world. How does your fund navigate the current global uncertainties—be it sticky inflation, shifting central bank tones, or geopolitical jitters? Canara Robeco Multi Asset Allocation Fund will be an interplay of equity (net equity of 30 %-80%, Gross equity of 65%), debt (10-25%) and precious metals (10-25% of Gold ETF/ Silver ETF). These assets have low or inverse co-relation with each other – thus reducing volatility of outcomes through cycles. While optimal equity allocation would help in enhancing returns through cycles; Gold ETF/Silver ETF and fixed income will enhance downside protection and act as a hedge against inflation / economic or geopolitical uncertainty respectively. This product is a good way to manage volatility and generate optimum returns across cycles. Investors love returns, but they hate surprises. What kind of risk-adjusted performance or consistency can investors realistically expect from this new fund? Based on category returns – one should expect returns in excess of fixed income with much lower volatility than any single asset class may generate. What's your call on equity valuations , especially in mid and small caps? Current valuations of mid and small caps are between 22-25x FY27 consensus earnings. This is 10%-15% higher than historical valuations and thus we expect consolidation in them till corporate earnings improve meaningfully. It is to be noted here that FY25 earnings growth has been low single digit so far. Are Indian markets priced for perfection, or do you still see underappreciated sectors where the story is just beginning? Large caps are largely in the fair value zone whereas mid and small caps continue to be expensive as highlighted in the previous question. Markets at all points in time have sectors which are expensive and others which are under-appreciated. We think pockets in discretionary consumption, financials and global cyclicals, building materials, etc. are under appreciated in the current market. Domestic SIP flows are holding the fort even when FIIs get cold feet. How sustainable is this retail resilience and can it shield us in the event of a global risk-off? Indian household's equity allocation through SIP has been resilient. If corporate earnings revive in FY26 from the current low single digit in FY25; this trend might continue for a longer period. These flows help in increasing our markets' resilience against global events. If you had to bet on just one theme for the next 12-18 months - be it consumption, manufacturing, AI, or energy transition—where would you place your chips? We don't think one should bet on one theme. We see markets in the next 12-18 months to be more bottom-up than top down and thus one needs to find out good opportunities across consumption, manufacturing and energy transition. There are limited plays on AI transition in India. One might find more bottom-up ideas in consumption over next 12-18 months against the other themes.
News.com.au
09-05-2025
- Business
- News.com.au
Gold Digger: As gold demand rises, here's how you find an outperformer
Gold ETF inflows soared in April, driven by Chinese investors State Street sees "bull case" of US$3500-3900/oz in 2025 Goldman Sachs surveys Australia's best performing gold miners Gold may have taken a tumble last night amid signs of normalisation in the US trade universe – a deal between the US and UK that keeps a 10% tariff in place but gives concessions for beef, steel and more – but even with a deal with China on the cards, asset managers remain gold bulls. At over US$3300/oz, gold prices still clock in at over $5000/oz for Aussie miners, with exchange rates also in their favour. Figures for April from the World Gold Council, following up the strongest first quarter since 2016 continue to show the demand from investors for the yellow metal. ETFs recorded a fifth straight month of net inflows, adding US$11 billion in April, with global holdings lifting 115t to 3561t. That's the highest level of gold held in global ETFs since August 2022 but 10% below the month-end record of 3915t in October 2020. Intriguingly, it was Asian buyers that provided the most steam for the engine, accounting for 65% of net inflows. Over US$378bn of assets under management are now held in ETFs, with Asian funds' US$7.3bn of inflows in the month of April the strongest on record, led strongly by China. "The bulk of the demand came from China (Table 2), marking the third consecutive month of inflows and the strongest on record for the region. And more impressively, the April inflows have now surpassed those in Q1 and in full year 2024," the WGC said. "In addition to the continued local gold price surge, demand was also driven by: The ongoing trade dispute with the US, which has raised fears of weaker growth, amplified equity volatility, and intensified expectations of the local currency depreciation Lower government bond yields, amid rising rate cut anticipations." US ETFs added US$4.5bn, their second highest on record. Despite the pause after gold prices hit a brief record of US$3500/t in the days post-tariff in April, forecasters continue to tip higher levels. State Street Global Advisors say "there is a strong tactical and strategic case to be made that the gold market has transitioned to a higher price regime north of US$3000/oz." They've loaded up a new baseline floor price of US$3000-3100/oz, with a base case of US$3100-3500/oz for 2025. The bull case for H2 has been moved up to an even stronger US$3500-3900/oz. "An extended global trade war – even if isolated to US-China – should buttress demand for gold as a haven and alt-fiat asset," State Street says. Despite the recent move down they say post-Liberation Day trade policies have 'enhanced the case for gold investment'. Are all gold stocks a good bet? A rising tide may float all boats. But not to the same level. Goldman Sachs' Aussie analysts Hugo Nicolaci, Paul Young, Marcus Dosanjh and Isaac Brooke have put together a catalogue of measurements to assess the outperformers in the ASX mid and large caps. Their most recent note extends GS' analysis to over 45 listed gold assets covering more than 85% of gold production in Australia by names listed here and offshore. There are a few market-specific trends which Goldman, on record as like equities above spot gold for value at the moment, has noted across the sector. "At a sector-level, we find AISC/cash cost increases continued to moderate in the Mar-25 Q, though UG mining costs continue to rise," they said. "While costs remain well above PcP levels, we expect further moderation of nominal cost increases, affirmed by our recent Perth trip seeing >25 corporates (mostly gold) with labour cost inflation seen at ~2-3% (and turnover for some falling to ~5-10%, from ~20-40% Covid peaks, improving productivity), softening oil/diesel prices, and unit costs further supported by grade improvements and growth projects adding to produced ounces." When it comes to companies, they like Capricorn Metals (ASX:CMM), citing "peer-leading cost performance" in both open pit mining and processing at the Karlawinda gold mine "adding a defensive buffer to our preferred mid-cap gold exposure". Gold Road Resources (ASX:GOR), which just agreed to a $3.7bn takeover by its JV partner at the Gruyere gold mine, Gold Fields, is viewed as having strong cash cost performance, while Newmont Corporation (ASX:NEM) (buy) and Evolution Mining (ASX:EVN) (neutral) have the benefit of copper by-products that support their cost base. Northern Star Resources (ASX:NST) is also rated by Goldman as a buy, with strip ratios coming down at the Super Pit in Kalgoorlie and a wall remediation that cut off access to high grade ore deep in the big hole now complete. A number of mid-cap names also look attractive on their higher than reserve grade mining performance. Regis Resources (ASX:RRL), notably, has been seeing improved steadily improving grades that are outperforming reserves, Goldman's analysts noted. GS remains sell rated on Regis however, with its $4.25 price target tracking well below the current market price of $4.82. Winners & Losers CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.0085 6% 6% 0% -23% 21% $ 8,678,940.02 NPM Newpeak Metals 0.013 8% 30% 8% -31% 18% $ 3,864,860.77 ASO Aston Minerals Ltd 0.017 0% 21% 70% 55% 89% $ 24,606,221.11 MTC Metalstech Ltd 0.125 25% 26% -14% -51% -11% $ 25,046,595.12 GED Golden Deeps 0.02 11% 5% -34% -50% -20% $ 3,188,262.62 G88 Golden Mile Res Ltd 0.011 0% 38% -12% 0% 22% $ 6,530,974.26 LAT Latitude 66 Limited 0.047 -16% -15% -53% -77% 24% $ 6,739,833.14 NMR Native Mineral Res 0.18 -3% 82% 414% 847% 362% $ 159,001,115.22 AQX Alice Queen Ltd 0.006 0% 33% -25% 0% -25% $ 6,881,340.41 SLZ Sultan Resources Ltd 0.006 -14% -14% -33% -45% 0% $ 1,388,819.46 KSN Kingston Resources 0.089 -1% 13% -6% 24% 25% $ 76,441,805.98 AMI Aurelia Metals Ltd 0.32 10% 49% 78% 73% 88% $ 533,160,381.60 GIB Gibb River Diamonds 0.035 -10% 3% -5% 46% -13% $ 7,936,849.47 KCN Kingsgate Consolid. 2.08 25% 48% 49% 31% 62% $ 530,968,485.52 TMX Terrain Minerals 0.003 0% 0% -25% -25% 0% $ 6,675,669.80 BNR Bulletin Res Ltd 0.076 12% 62% 81% 52% 95% $ 22,608,225.87 NXM Nexus Minerals Ltd 0.073 1% 4% 35% 3% 62% $ 45,281,970.98 SKY SKY Metals Ltd 0.048 -4% 14% 0% 23% -11% $ 34,113,751.97 LM8 Lunnonmetalslimited 0.215 0% 16% -32% -31% -14% $ 48,538,198.28 CST Castile Resources 0.075 0% 4% -4% -18% -6% $ 22,931,143.50 YRL Yandal Resources 0.18 24% 57% -47% 64% 3% $ 55,662,296.76 FAU First Au Ltd 0.003 20% 50% 50% 50% 50% $ 6,215,979.83 ARL Ardea Resources Ltd 0.42 -5% 11% 6% -36% 27% $ 87,321,359.73 GWR GWR Group Ltd 0.115 24% 35% 34% 5% 44% $ 35,596,732.05 IVR Investigator Res Ltd 0.022 -4% 5% -48% -57% 10% $ 36,544,230.20 GTR Gti Energy Ltd 0.003 0% 0% -25% -40% -14% $ 8,996,848.99 IPT Impact Minerals 0.006 0% 50% -47% -74% -36% $ 22,215,979.58 BNZ Benzmining 0.385 1% 13% 33% 148% 12% $ 60,463,801.50 MOH Moho Resources 0.004 0% 14% -43% -20% -20% $ 2,923,498.30 BCM Brazilian Critical 0.009 0% 29% 0% -64% 0% $ 9,566,627.29 PUA Peak Minerals Ltd 0.013 44% 30% 123% 439% 68% $ 36,495,176.77 MRZ Mont Royal Resources 0.041 0% 0% -9% -23% -5% $ 3,486,221.51 SMS Starmineralslimited 0.025 -4% 0% -44% -11% -31% $ 3,795,166.33 MVL Marvel Gold Limited 0.015 7% 25% 25% 67% 67% $ 15,116,337.31 PRX Prodigy Gold NL 0.002 0% 33% -33% -10% 0% $ 6,350,111.10 AAU Antilles Gold Ltd 0.004 0% 0% 33% -64% 33% $ 8,505,470.73 CWX Carawine Resources 0.097 1% -8% -16% -8% -3% $ 22,904,168.55 RND Rand Mining Ltd 1.91 1% 11% -3% 22% 26% $ 108,633,085.51 CAZ Cazaly Resources 0.016 0% 7% 14% -6% 14% $ 6,919,544.87 BMR Ballymore Resources 0.145 16% 32% 7% 4% 21% $ 28,276,893.60 DRE Dreadnought Resources Ltd 0.014 0% 17% -13% -18% 17% $ 67,821,635.90 ZNC Zenith Minerals Ltd 0.044 -2% -20% 0% -41% 10% $ 18,334,863.99 REZ Resourc & En Grp Ltd 0.019 -10% -21% -34% 46% -17% $ 13,432,782.44 LEX Lefroy Exploration 0.08 1% 1% 5% -20% 14% $ 18,879,930.49 ERM Emmerson Resources 0.14 0% 17% 122% 180% 82% $ 95,342,831.85 AM7 Arcadia Minerals 0.018 0% 20% -49% -75% -5% $ 2,112,901.79 ADT Adriatic Metals 3.9 -6% 3% -6% -12% 0% $ 1,185,253,699.50 AS1 Asara Resources Ltd 0.04 -15% -15% 100% 233% 111% $ 51,204,769.93 CYL Catalyst Metals 6.08 11% 2% 98% 611% 136% $ 1,431,667,350.08 CHN Chalice Mining Ltd 1.13 4% 25% -28% -14% 2% $ 429,874,600.74 KAL Kalgoorliegoldmining 0.043 0% -33% 115% 65% 139% $ 17,165,797.97 MLS Metals Australia 0.0195 -3% 3% -30% -7% -15% $ 13,845,670.96 ADN Andromeda Metals Ltd 0.017 -32% 143% 183% -6% 143% $ 58,288,370.71 MEI Meteoric Resources 0.099 0% 41% -6% -55% 16% $ 222,001,964.29 SRN Surefire Rescs NL 0.003 0% 0% -25% -73% -14% $ 7,248,923.44 WA8 Warriedarresourltd 0.105 25% 81% 110% 69% 139% $ 105,257,020.99 HMX Hammer Metals Ltd 0.036 24% 50% -5% -8% 9% $ 31,071,554.50 WCN White Cliff Min Ltd 0.034 70% 127% 89% 113% 113% $ 57,429,622.44 AVM Advance Metals Ltd 0.044 -21% 22% 13% 91% 29% $ 9,845,602.36 ASR Asra Minerals Ltd 0.0025 25% -17% -29% -64% -17% $ 5,412,093.66 ARI Arika Resources 0.028 4% 56% 27% 40% 4% $ 20,272,276.42 CTO Citigold Corp Ltd 0.004 0% 0% 0% -43% 0% $ 12,000,000.00 SMI Santana Minerals Ltd 0.575 11% 21% -11% 55% 19% $ 415,563,238.13 M2R Miramar 0.003 0% 0% -50% -65% 0% $ 2,990,469.86 MHC Manhattan Corp Ltd 0.017 6% 0% -58% -49% -11% $ 3,993,281.27 GRL Godolphin Resources 0.01 11% 11% -41% -58% -31% $ 4,488,733.12 SVG Savannah Goldfields 0.026 4% 86% 41% 6% 41% $ 20,873,048.93 EMC Everest Metals Corp 0.15 15% 0% 15% 67% 11% $ 33,619,688.25 GUL Gullewa Limited 0.082 -11% 55% 17% 49% 46% $ 18,095,840.28 CY5 Cygnus Metals Ltd 0.084 4% -1% -40% 2% -16% $ 72,210,192.04 G50 G50Corp Ltd 0.1 -9% -5% -33% -44% -35% $ 16,059,765.90 ADV Ardiden Ltd 0.145 4% 4% 7% -9% 7% $ 9,065,038.37 AAR Astral Resources NL 0.16 3% 10% 14% 135% 19% $ 226,788,498.88 VMC Venus Metals Cor Ltd 0.11 10% 16% 51% 20% 64% $ 21,574,155.13 NAE New Age Exploration 0.004 0% 0% -20% 0% 14% $ 11,967,295.10 VKA Viking Mines Ltd 0.007 0% 0% -42% -42% -13% $ 10,751,589.99 LCL LCL Resources Ltd 0.007 0% 17% -22% -36% -30% $ 8,363,688.95 MTH Mithril Silver Gold 0.375 9% 17% -6% 88% -6% $ 53,932,503.14 ADG Adelong Gold Limited 0.007 17% 40% 75% 75% 56% $ 8,384,917.19 RMX Red Mount Min Ltd 0.008 0% 14% -20% -20% -11% $ 3,254,704.57 PRS Prospech Limited 0.027 -4% 13% -4% -40% -7% $ 8,878,298.95 TTM Titan Minerals 0.4 0% 3% -18% 54% 5% $ 106,889,339.46 AKA Aureka Limited 0.13 -4% -7% -99% -99% -4% $ 11,267,838.56 AAM Aumegametals 0.036 0% -13% -28% -50% -14% $ 22,352,182.55 KZR Kalamazoo Resources 0.089 10% 16% 2% -2% 20% $ 19,745,416.53 BCN Beacon Minerals 0.028 4% 12% 27% -3% 27% $ 118,339,072.38 MAU Magnetic Resources 1.46 1% 9% 25% 33% 32% $ 406,924,874.08 BC8 Black Cat Syndicate 0.96 2% 6% 79% 243% 70% $ 686,304,790.21 EM2 Eagle Mountain 0.005 0% 0% -87% -92% -44% $ 5,675,186.45 EMR Emerald Res NL 4.58 13% 19% 19% 31% 41% $ 3,043,842,645.34 BYH Bryah Resources Ltd 0.005 25% 25% 25% -33% 67% $ 4,349,767.61 HCH Hot Chili Ltd 0.47 2% 3% -43% -58% -33% $ 75,798,074.50 WAF West African Res Ltd 2.51 9% 14% 51% 73% 75% $ 2,860,913,692.52 MEU Marmota Limited 0.041 -2% 14% 14% -5% 5% $ 48,310,537.39 NVA Nova Minerals Ltd 0.325 -2% 41% 59% 35% -12% $ 106,589,147.61 SVL Silver Mines Limited 0.097 -3% 10% -3% -45% 24% $ 177,977,539.20 PGD Peregrine Gold 0.15 2% -19% -6% -32% 7% $ 12,727,161.15 ICL Iceni Gold 0.054 -8% -23% 8% -39% -24% $ 17,915,357.78 FG1 Flynngold 0.025 14% 14% -17% -11% 0% $ 9,782,911.75 WWI West Wits Mining Ltd 0.019 0% 19% 36% 36% 36% $ 52,502,334.46 RML Resolution Minerals 0.0095 19% 36% -41% -41% -21% $ 5,257,868.55 AAJ Aruma Resources Ltd 0.01 11% 11% -38% -33% -17% $ 2,498,154.43 HWK Hawk Resources. 0.018 -5% -10% -40% -60% -18% $ 4,876,730.08 GMN Gold Mountain Ltd 0.002 0% 0% 0% -50% -33% $ 9,591,959.88 MEG Megado Minerals Ltd 0.011 10% -15% -18% 5% -35% $ 4,616,515.88 HMG Hamelingoldlimited 0.099 10% 41% 10% 30% 55% $ 19,490,625.00 BM8 Battery Age Minerals 0.053 -12% -12% -46% -47% -50% $ 6,313,934.89 TBR Tribune Res Ltd 5.12 -1% 10% 6% 22% 19% $ 268,636,554.24 FML Focus Minerals Ltd 0.24 0% 9% 30% 100% 41% $ 63,042,901.90 VRC Volt Resources Ltd 0.005 11% 11% 25% 0% 67% $ 23,423,889.92 ARV Artemis Resources 0.007 0% -13% -50% -56% -13% $ 17,699,705.16 HRN Horizon Gold Ltd 0.55 21% 25% 25% 83% 15% $ 70,971,562.27 CLA Celsius Resource Ltd 0.008 14% 14% -20% -20% -27% $ 20,352,998.40 QML Qmines Limited 0.039 -7% -9% -38% -43% -28% $ 16,512,761.11 RDN Raiden Resources Ltd 0.005 0% 25% -84% -89% -55% $ 17,254,457.21 TCG Turaco Gold Limited 0.45 5% 18% 45% 109% 76% $ 406,071,657.45 KCC Kincora Copper 0.031 -6% 19% -14% -11% 15% $ 7,815,689.21 GBZ GBM Rsources Ltd 0.009 13% 29% 13% -10% 13% $ 10,539,629.80 DTM Dart Mining NL 0.003 -40% -33% -70% -88% -67% $ 3,438,819.57 MKR Manuka Resources. 0.035 -8% 30% -8% -49% 25% $ 28,376,868.42 AUC Ausgold Limited 0.645 22% 29% 29% 139% 54% $ 226,662,065.73 ANX Anax Metals Ltd 0.007 27% 0% -30% -83% -42% $ 7,062,460.54 EMU EMU NL 0.025 19% 4% -7% -6% -7% $ 4,065,629.59 SFM Santa Fe Minerals 0.037 0% -3% 23% -18% 19% $ 2,694,295.19 PNR Pantoro Gold Limited 3.26 16% 39% 74% 126% 113% $ 1,288,439,329.45 CMM Capricorn Metals 9.72 7% 14% 56% 103% 55% $ 4,192,739,422.83 X64 Ten Sixty Four Ltd 0 -100% -100% -100% -100% -100% $ 129,844,903.32 VRL Verity Resources 0.022 29% 69% -25% -62% 13% $ 5,932,822.87 HAW Hawthorn Resources 0.054 15% 29% -8% -23% 32% $ 20,435,952.39 BGD Bartongoldholdings 0.555 18% 50% 95% 82% 127% $ 123,692,442.51 SVY Stavely Minerals Ltd 0.011 -15% -35% -62% -59% -35% $ 6,528,505.12 AGC AGC Ltd 0.145 0% 0% -31% 56% -6% $ 39,772,569.41 RGL Riversgold 0.0045 13% 13% 50% -25% 13% $ 8,418,562.97 TSO Tesoro Gold Ltd 0.027 -4% 0% 13% -37% 35% $ 52,427,723.58 GUE Global Uranium 0.06 -5% 13% -14% -43% 0% $ 28,308,775.82 CPM Coopermetalslimited 0.042 5% 14% -14% -63% -9% $ 3,290,937.30 MM8 Medallion Metals. 0.25 11% 4% 221% 363% 108% $ 122,083,970.85 FFM Firefly Metals Ltd 0.905 17% 23% -26% 7% -2% $ 499,767,392.73 CBY Canterbury Resources 0.018 -14% -28% -28% -74% -18% $ 4,048,817.92 SLA Solara Minerals 0.115 -12% 10% -52% -63% 28% $ 6,378,330.53 SFR Sandfire Resources 10.25 4% 17% -3% 5% 10% $ 4,746,803,032.40 TAM Tanami Gold NL 0.036 3% 24% 22% -3% 20% $ 43,478,590.70 NWM Norwest Minerals 0.013 8% 69% -11% -61% 8% $ 6,306,553.63 ALK Alkane Resources Ltd 0.79 1% 22% 53% 34% 55% $ 490,488,932.52 BMO Bastion Minerals 0.003 0% 0% -50% -67% -25% $ 2,710,882.69 IDA Indiana Resources 0.08 4% 8% 40% 82% 31% $ 50,133,131.72 GSM Golden State Mining 0.007 0% -13% -22% -36% -13% $ 1,955,594.41 NSM Northstaw 0.043 2% 16% 207% 39% 169% $ 11,768,089.50 GSN Great Southern 0.022 10% 10% 47% 16% 47% $ 22,926,498.67 VAU Vault Minerals Ltd 0.47 9% 12% 32% 4% 42% $ 3,299,199,590.27 DEG De Grey Mining 2.46 0% 13% 71% 102% 39% $ 5,915,063,112.00 THR Thor Energy PLC 0.011 -8% 10% -27% -35% -15% $ 7,818,688.19 CDR Codrus Minerals Ltd 0.032 39% 100% 60% -26% 88% $ 5,292,400.13 MDI Middle Island Res 0.018 0% 20% 6% 6% 50% $ 5,786,248.34 WTM Waratah Minerals Ltd 0.305 56% 107% 17% 165% 97% $ 61,931,520.63 POL Polymetals Resources 0.86 1% 13% 6% 207% 8% $ 224,157,309.30 RDS Redstone Resources 0.005 -17% 67% 67% 67% 100% $ 5,552,270.76 NAG Nagambie Resources 0.022 16% 38% 47% 83% 22% $ 16,869,349.22 BGL Bellevue Gold Ltd 0.975 11% -15% -32% -44% -13% $ 1,432,036,323.79 GBR Greatbould Resources 0.069 -1% -10% 64% 10% 60% $ 53,983,317.04 KAI Kairos Minerals Ltd 0.02 0% 0% 25% 67% 67% $ 55,249,155.97 KAU Kaiser Reef 0.18 6% 20% 6% 44% 13% $ 60,266,192.00 HRZ Horizon 0.058 5% 5% 32% 45% 45% $ 124,136,586.14 CDT Castle Minerals 0.071 27% -21% -21% -53% 18% $ 6,960,574.20 RSG Resolute Mining 0.6 20% 46% -10% 38% 52% $ 1,288,075,257.87 MXR Maximus Resources 0 -100% -100% -100% -100% -100% $ 33,424,752.21 EVN Evolution Mining Ltd 8.63 12% 28% 77% 127% 79% $ 17,300,550,378.24 CXU Cauldron Energy Ltd 0.008 -11% 0% -47% -79% -33% $ 13,152,641.48 DLI Delta Lithium 0.21 20% 40% -14% -35% 24% $ 154,056,485.28 ALY Alchemy Resource Ltd 0.006 0% 0% 0% -14% -14% $ 7,068,457.54 NH3 Nh3Cleanenergyltd 0.027 0% 35% 17% 29% 50% $ 14,115,119.63 OBM Ora Banda Mining Ltd 1.105 8% 10% 31% 245% 70% $ 2,203,561,188.27 AVW Avira Resources Ltd 0.007 0% -13% -65% -77% -65% $ 1,281,789.10 LCY Legacy Iron Ore 0.008 -20% -11% -36% -45% -20% $ 78,096,340.67 PDI Predictive Disc Ltd 0.365 0% 6% 38% 78% 59% $ 995,729,470.18 MAT Matsa Resources 0.067 12% 22% 43% 123% 91% $ 47,642,679.37 ZAG Zuleika Gold Ltd 0.012 0% 20% -29% -37% -8% $ 9,644,439.05 GML Gateway Mining 0.029 -3% 12% 12% 93% 38% $ 11,855,788.56 SBM St Barbara Limited 0.32 7% 52% -3% 28% 42% $ 346,510,829.12 SBR Sabre Resources 0.008 14% 33% -27% -56% -20% $ 3,155,695.46 STK Strickland Metals 0.105 18% 28% 28% 5% 24% $ 221,711,260.11 CEL Challenger Gold Ltd 0.083 4% 51% 51% 17% 77% $ 136,931,244.31 GG8 Gorilla Gold Mines 0.515 16% 29% 124% 1365% 98% $ 341,727,714.85 NST Northern Star 19.77 4% 1% 18% 35% 28% $ 28,451,592,142.74 OZM Ozaurum Resources 0.082 -11% -17% 128% 39% 173% $ 18,549,151.71 TG1 Techgen Metals Ltd 0.0245 29% -2% -13% -23% -30% $ 3,173,314.20 XAM Xanadu Mines Ltd 0.047 -18% -19% -13% -30% -4% $ 97,522,075.36 AQI Alicanto Min Ltd 0.03 0% 7% -6% 36% -19% $ 25,444,289.28 KTA Krakatoa Resources 0.01 0% 11% -9% -44% 5% $ 6,201,340.25 ARN Aldoro Resources 0.365 4% 9% 324% 462% -4% $ 68,496,191.23 WGX Westgold Resources. 2.91 5% 6% 0% 32% 3% $ 2,772,742,488.60 MBK Metal Bank Ltd 0.011 -8% -21% -50% -44% -27% $ 5,472,048.98 A8G Australasian Metals 0.07 0% 8% -10% -13% -11% $ 3,994,391.03 TAR Taruga Minerals 0.009 -10% 13% -31% 13% -10% $ 7,060,267.85 DTR Dateline Resources 0.036 300% 620% 800% 260% 929% $ 110,622,744.80 GOR Gold Road Res Ltd 3.28 8% 7% 80% 109% 60% $ 3,585,116,898.00 S2R S2 Resources 0.094 -4% -3% 29% -22% 40% $ 43,927,225.32 NES Nelson Resources. 0.003 0% 0% 50% 0% 0% $ 6,515,782.98 TLM Talisman Mining 0.175 3% 17% -26% -41% -15% $ 32,014,459.33 BEZ Besragoldinc 0.045 -2% 13% -42% -51% -50% $ 17,450,535.94 PRU Perseus Mining Ltd 3.61 7% 13% 39% 55% 40% $ 4,956,455,807.49 SPQ Superior Resources 0.0045 0% -18% -36% -55% -25% $ 9,483,930.90 PUR Pursuit Minerals 0.037 -14% -18% -75% -84% -61% $ 3,989,358.52 RMS Ramelius Resources 2.87 8% 21% 33% 42% 39% $ 3,337,759,895.04 PKO Peako Limited 0.0025 -17% -17% -17% -35% -17% $ 3,719,354.90 ICG Inca Minerals Ltd 0.005 0% 0% -17% -17% 0% $ 8,573,313.84 A1G African Gold Ltd. 0.135 0% 29% 78% 419% 145% $ 64,802,676.51 NMG New Murchison Gold 0.015 -6% 0% 50% 200% 67% $ 157,613,601.71 GNM Great Northern 0.016 14% 23% 23% 45% 14% $ 2,164,807.08 KRM Kingsrose Mining Ltd 0.033 0% 3% -11% -6% -6% $ 24,112,848.61 BTR Brightstar Resources 0.6 30% 20% -2% 33% 20% $ 295,360,920.00 RRL Regis Resources 4.85 11% 15% 91% 129% 90% $ 3,671,621,787.24 M24 Mamba Exploration 0.012 0% 9% 0% -45% 0% $ 3,541,987.32 TRM Truscott Mining Corp 0.06 0% -8% -23% -4% -23% $ 11,486,913.60 TNC True North Copper 0.185 -3% -16% -94% -97% -94% $ 18,875,852.40 MOM Moab Minerals Ltd 0.0015 0% -25% -63% -70% -25% $ 2,600,499.05 KNB Koonenberrygold 0.085 20% 89% 507% 431% 608% $ 74,367,372.38 AWJ Auric Mining 0.23 2% -12% -27% 39% -32% $ 34,259,275.33 ENR Encounter Resources 0.19 3% -3% -46% -47% -42% $ 94,770,540.61 SNG Siren Gold 0.056 4% 17% -25% -21% -14% $ 12,043,383.50 STN Saturn Metals 0.275 -5% 25% 8% 15% 34% $ 122,522,838.65 USL Unico Silver Limited 0.215 0% 8% -16% 34% 10% $ 100,727,063.65 PNM Pacific Nickel Mines 0.024 0% 0% 0% -4% 0% $ 10,103,834.52 AYM Australia United Min 0.003 50% 50% 0% 0% -25% $ 3,685,154.97 ANL Amani Gold Ltd 0 -100% -100% -100% -100% -100% $ 21,449,587.12 HAV Havilah Resources 0.17 -3% 0% -17% -15% -24% $ 59,369,851.80 SPR Spartan Resources 2.22 7% 19% 69% 283% 57% $ 2,857,891,250.09 PNT Panthermetalsltd 0.015 -6% 0% -32% -45% 36% $ 4,212,663.67 MEK Meeka Metals Limited 0.145 0% 4% 123% 292% 88% $ 377,215,150.50 GMD Genesis Minerals 4.36 13% 21% 95% 143% 77% $ 4,914,163,375.50 PGO Pacgold 0.08 0% 21% -11% -45% 7% $ 10,516,347.04 FEG Far East Gold 0.155 3% 29% -16% 11% -14% $ 56,889,255.22 MI6 Minerals260Limited 0.135 13% 4% 4% -7% 4% $ 279,089,999.96 IGO IGO Limited 4.15 7% 26% -22% -47% -13% $ 3,082,079,998.91 GAL Galileo Mining Ltd 0.115 5% -12% -15% -56% -8% $ 22,726,866.61 RXL Rox Resources 0.315 -13% -10% 85% 91% 58% $ 210,401,543.72 PTN Patronus Resources 0.058 -9% -2% -12% -3% 18% $ 99,881,266.04 CLZ Classic Min Ltd 0.001 0% 0% 0% -88% 0% $ 1,544,025.56 TGM Theta Gold Mines Ltd 0.135 -4% 0% -27% -13% -25% $ 118,722,864.51 FAL Falconmetalsltd 0.115 5% 20% -26% -21% 0% $ 21,240,000.00 SPD Southernpalladium 0.23 7% -31% -67% -54% -62% $ 22,282,750.00 ORN Orion Minerals Ltd 0.012 -8% -8% -29% -33% -20% $ 75,354,926.00 TMB Tambourahmetals 0.025 -4% -11% -19% -63% 19% $ 2,822,161.10 TMS Tennant Minerals Ltd 0.007 0% -33% -46% -67% -22% $ 8,603,013.74 AZY Antipa Minerals Ltd 0.485 1% 24% 120% 341% 87% $ 278,593,952.69 PXX Polarx Limited 0.008 0% 23% -11% -38% 23% $ 21,379,508.80 TRE Toubani Res Ltd 0.27 -7% 42% -4% 145% 59% $ 73,331,911.61 AUN Aurumin 0.075 23% 32% 17% 92% 14% $ 37,069,510.80 GPR Geopacific Resources 0.021 0% 11% -25% -6% 5% $ 63,649,306.52 FXG Felix Gold Limited 0.16 -6% 3% 100% 105% 90% $ 52,625,021.76 ILT Iltani Resources Lim 0.25 -4% 25% 47% 32% 22% $ 11,313,749.73 BRX Belararoxlimited 0.08 -11% -56% -64% -68% -54% $ 12,521,788.32 TM1 Terra Metals Limited 0.027 4% -4% -31% -54% -4% $ 11,006,146.67 TOR Torque Met 0.099 4% 32% 48% -29% 87% $ 25,348,409.04 ARD Argent Minerals 0.02 -5% 5% -23% 11% 18% $ 30,358,450.08 LM1 Leeuwin Metals Ltd 0.17 10% 13% 127% 154% 21% $ 17,641,117.20 SX2 Southgold Consol 5.7 9% 24% 0% 0% 0% $ 793,848,491.94 Dateline Resources (ASX:DTR) Much like last week, Dateline Resources enjoyed outsized gains after Donald Trump called out its permitting success with the Bureau of Land Management, which confirmed its right to mine the 1.1Moz Colosseum gold mine in California. Strangely it seems to be the as yet untested rare earths potential of the operation which really has the US President buzzing. Once owned by Barrick, Colosseum is a historic gold producer but sits just 10km from Mountain Pass, the US' only operating rare earths mine. Dateline announced on Monday that it was preparing to conduct drilling for rare earths are the project where a gold feasibility study is also ongoing. White Cliff Minerals (ASX:WCN) A thick intercept of good grade copper has WCN's tail up, striking 175m at 2.5% Cu & 8.66g/t silver from 7.6m, including 14m at 7.55% Cu & 25.8g/t Ag from 138m at the Rae project in Canada's Nunavut province. The hit included 3.9% Cu & 14.96g/t Ag over its last 60m and 4.46% copper at the end of the hole. A second hole delivered 52m at 1.16% Cu & 3.43g/t Ag from surface, including 7.6m at 3% Cu & 9.5g/t Ag from 18.28m, with more assays from the first pending. It demonstrates the potential for WCN to grow an existing non-JORC compliant resource and the copper and silver rich site. White Cliff called the strike at Danvers "globally significant". "DAN25008 was prioritised for assay due to the abundance of visual sulphides observed during drilling, and these results have underpinned our confidence in those visuals prevalent in the Company's prior work," MD Troy Whittaker said. "We believe this drill hole ranks among the most significant copper intersections globally within the last 50 years and comfortably sits within the top 10 globally reported 'grade-metre' copper results. "This discovery and outstanding results from Danvers is a clear testament to our technical team's expertise and geological understanding, in particular the professionalism and persistence of Olga Solovieva and Sam Vaughan. "To illustrate the magnitude of this result, the DAN25001 intercept of 52m at 1.2% Cu - a strong result in its own right - now appears modest when viewed alongside the 175m @ 2.5% Cu from DAN25008. In the context of global copper supply constraints, the Company is well positioned to leverage these results with mineralisation from surface, supporting potential open pit mining activities and an open water port less than 80km from the deposit."
Time of India
30-04-2025
- Business
- Time of India
Gold ETFs offered up to 31% returns since last Akshaya Tritiya. Did they add shine to your portfolio?
Live Events Gold ETFs since the last Akshaya Tritiya have offered up to 31% return and have delivered an average return of 29.92%, an analysis by ETMutualFunds showed. There were around 16 ETFs based on the gold commodity that marked their presence in the said four ETFs gave over 30% return since the last Akshaya Tritiya, which was celebrated on May 10, 2024. UTI Gold ETF gave the highest return of around 30.95% since the last Akshaya Read | Akshaya Tritiya: How gold ETFs performed in last 10 calendar years LIC MF Gold ETF offered a return of 30.34% since May 10, 2024, followed by Axis Gold ETF and HDFC Gold ETF. Axis Gold ETF and HDFC Gold ETF gave 30.25% and 30.05% returns, respectively, since the last Akshaya India Gold ETF and ICICI Pru Gold ETF gave 29.99% and 29.93% returns, respectively, in the same time Birla SL Gold ETF, which gave 29.86% since the last Akshaya Tritiya, was followed by Zerodha Gold ETF, which gave 29.83% return in the same Gold ETF and Mirae Asset Gold ETF gave 29.81% return each in the same period. SBI Gold ETF and Baroda BNP Paribas Gold ETF gave 29.70% return each in the mentioned Gold ETF, Tata Gold ETF, and Edelweiss Gold ETF gave 29.68%, 29.65%, and 29.60% returns, respectively, since the last Akshaya Read | Gold & mutual funds: Which one is right for your portfolio now? Nippon India ETF Gold BeES, the last gold ETF based on assets managed, gave a 29.56% return since the last Akshaya considered all gold ETFs that have marked their presence in the same period. We calculated the performance of these gold ETFs since May 10, the above exercise is not a recommendation. The exercise was done to evaluate the performance of gold ETFs since the last Akshaya Tritiya in should not make investment or redemption decisions based on the above exercise. One should always consider risk appetite, investment horizon, and goals before making an investment decision.
Time of India
30-04-2025
- Business
- Time of India
Akshaya Tritiya: How gold ETFs performed in last 10 calendar years
2016 2017 Live Events 2018 2019 2020 2021 2022 2023 2024 2025 As India marks the auspicious festival of Akshaya Tritiya today, considered as one of the most auspicious days in the Hindu calendar for initiating new ventures and making significant purchases, particularly of gold. But beyond ornaments and coins, an increasing number of Indians have turned to Gold Exchange-Traded Funds ( ETFs ) to gain exposure to the precious looked at the performance of gold ETFs in the last 10 calendar years including 2025 so far and found that these ETFs have offered an average return of up to 26.24%.Also Read | Gold vs Nifty: Which investment gave higher SIP return in one year? In this calendar year, there were around 10 gold ETFs which have offered an average return of 10.49% with LIC MF Gold ETF being the topper. The scheme gave 10.80% in the mentioned calendar year. Axis Gold ETF, the lowest performer in 2016, gave 9.88% the calendar year 2017, gold ETFs have offered an average return of 2.73%, the lowest positive return in the last 10 calendar years. HDFC Gold ETF, the topper in the said period, gave a return of 3.97%, followed by LIC MF Gold ETF which gave 3.61% Gold ETF continued to stand at the last position in the calendar year 2017 and gave the lowest return of 0.56%.In the calendar year 2018, gold commodity based ETFs gave an average return of 7.03% with LIC MF Gold ETF being the topper. The scheme delivered a return of 7.55% in the same period. UTI Gold ETF delivered a return of 7.21% in the same calendar year and SBI Gold ETF gave the lowest return of 6.77% in Read | Gold price was just Rs 30,000 in 2014 on Akshaya Tritiya, surges by 218% in 2025 In the calendar year 2019, these ETFs based on gold gave an average return of 22.97% where Axis Gold ETF offered the highest return of 23.40%.Invesco India Gold ETF delivered a return of 23.21% in the same time period. HDFC Gold ETF offered the lowest return of 22.19% in the said time the covid times, the gold commodity based ETFs gave an average return of 26.24%, the highest average return in the last 10 calendar years. There were 10 schemes and all delivered over 25% India Gold ETF offered the highest return of 26.69% in 2019 followed by HDFC Gold ETF which gave 26.59% return in the same period. LIC MF Gold ETF, the topper in the last calendar years, gave the lowest return of 25.58% in the same the calendar year 2021, all 10 schemes gave negative returns and delivered an average return of 4.46% in the same period. This calendar year marks the only year where gold ETFs have offered negative returns in a tenure of the last 10 Gold ETF lost the most at around 5.08%, followed by Nippon India ETF Gold BeES, the oldest gold ETF. The scheme lost 4.78% in MF Gold ETF lost the lowest of around 3.94% in Read | 19 gold ETFs, one glittering choice: Here's how to pick the best one In the calendar year 2022, the gold ETFs gave an average return of 14.11%. There were 10 schemes in the category in the said period and LIC MF Gold ETF offered the highest return of 14.59% in the same period. UTI Gold ETF offered the lowest return of 13.82% in the calendar year ETFs in the calendar year 2023, gave an average return of 10.90%. Out of 14 schemes in the category in the mentioned calendar year, LIC MF Gold ETF gave the highest return of 13.82%, followed by UTI Gold ETF which gave 13.50% return in the same schemes gave single-digit returns. DSP Gold ETF, Edelweiss Gold ETF, and Baroda BNP Paribas Gold ETF gave 4.71%, 3.85%, and 3.04% returns 17 gold ETFs in the calendar year 2024 gave an average return of 18.47%. Out of 17 funds, only one gave a negative return in the same Gold ETF gave a return of 21.37% in the calendar year 2024, followed by Tata Gold ETF which gave a return of 21.23%. Axis Gold ETF gave the lowest positive return of 19.22% in the said period. Groww Gold ETF lost 2.53% in the current calendar year so far, gold ETFs have offered an average return of 25.07%. There are around 17 schemes in the category. UTI Gold ETF has offered the highest return of 26%, followed by Invesco India Gold ETF which gave 25.27% return. Tata Gold ETF offered the lowest return of 23.99% in the current calendar year so Read | Gold & mutual funds: Which one is right for your portfolio now? If after looking at the past performance, you are willing to make an investment, Vishal Dhawan, CEO, Plan Ahead Wealth Advisors , a wealth management firm in Mumbai recommends that one can look to an allocation of 5% to 10% in commodities, and if it is not there yet, additional exposure should only be taken through a SIP strategy. 'As an alternative, one can look at a combined instrument like Gold and Silver as well through a SIP,' he to a report by Ventura, 'we see considerable upside potential should geopolitical tensions escalate or global economic conditions deteriorate. US Federal rate cut actions could also be the upside trigger. Gold prices could rally significantly, possibly reaching $3,600–$3,700 per ounce, or Rs 1,01,000 – Rs 1,04,000 per 10 grams by next Akshaya Tritiya, which falls on April 19,2026. These projections reflect gold's enduring appeal as a safe haven in times of heightened uncertainty.'We considered all gold ETFs across different calendar years. We calculated the calendar year returns from January 1 to December 31 for each the above exercise is not a recommendation. The exercise was done to evaluate the performance of gold ETFs in the last 10 calendar should always make an investment decision based on investment horizon, risk appetite, and goals.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
30-04-2025
- Business
- Economic Times
Akshaya Tritiya: How gold ETFs performed in last 10 calendar years
Gold ETFs delivered strong returns over the past decade, with average gains peaking at 26.24%, attracting growing investor interest. As India marks the auspicious festival of Akshaya Tritiya today, considered as one of the most auspicious days in the Hindu calendar for initiating new ventures and making significant purchases, particularly of gold. But beyond ornaments and coins, an increasing number of Indians have turned to Gold Exchange-Traded Funds (ETFs) to gain exposure to the precious looked at the performance of gold ETFs in the last 10 calendar years including 2025 so far and found that these ETFs have offered an average return of up to 26.24%. Also Read | Gold vs Nifty: Which investment gave higher SIP return in one year? In this calendar year, there were around 10 gold ETFs which have offered an average return of 10.49% with LIC MF Gold ETF being the topper. The scheme gave 10.80% in the mentioned calendar year. Axis Gold ETF, the lowest performer in 2016, gave 9.88% return. In the calendar year 2017, gold ETFs have offered an average return of 2.73%, the lowest positive return in the last 10 calendar years. HDFC Gold ETF, the topper in the said period, gave a return of 3.97%, followed by LIC MF Gold ETF which gave 3.61% return. Axis Gold ETF continued to stand at the last position in the calendar year 2017 and gave the lowest return of 0.56%.In the calendar year 2018, gold commodity based ETFs gave an average return of 7.03% with LIC MF Gold ETF being the topper. The scheme delivered a return of 7.55% in the same Gold ETF delivered a return of 7.21% in the same calendar year and SBI Gold ETF gave the lowest return of 6.77% in 2017. Also Read | Gold price was just Rs 30,000 in 2014 on Akshaya Tritiya, surges by 218% in 2025 In the calendar year 2019, these ETFs based on gold gave an average return of 22.97% where Axis Gold ETF offered the highest return of 23.40%.Invesco India Gold ETF delivered a return of 23.21% in the same time period. HDFC Gold ETF offered the lowest return of 22.19% in the said time the covid times, the gold commodity based ETFs gave an average return of 26.24%, the highest average return in the last 10 calendar years. There were 10 schemes and all delivered over 25% India Gold ETF offered the highest return of 26.69% in 2019 followed by HDFC Gold ETF which gave 26.59% return in the same period. LIC MF Gold ETF, the topper in the last calendar years, gave the lowest return of 25.58% in the same the calendar year 2021, all 10 schemes gave negative returns and delivered an average return of 4.46% in the same period. This calendar year marks the only year where gold ETFs have offered negative returns in a tenure of the last 10 Gold ETF lost the most at around 5.08%, followed by Nippon India ETF Gold BeES, the oldest gold ETF. The scheme lost 4.78% in MF Gold ETF lost the lowest of around 3.94% in 2021. Also Read | 19 gold ETFs, one glittering choice: Here's how to pick the best one In the calendar year 2022, the gold ETFs gave an average return of 14.11%. There were 10 schemes in the category in the said period and LIC MF Gold ETF offered the highest return of 14.59% in the same period. UTI Gold ETF offered the lowest return of 13.82% in the calendar year ETFs in the calendar year 2023, gave an average return of 10.90%. Out of 14 schemes in the category in the mentioned calendar year, LIC MF Gold ETF gave the highest return of 13.82%, followed by UTI Gold ETF which gave 13.50% return in the same schemes gave single-digit returns. DSP Gold ETF, Edelweiss Gold ETF, and Baroda BNP Paribas Gold ETF gave 4.71%, 3.85%, and 3.04% returns 17 gold ETFs in the calendar year 2024 gave an average return of 18.47%. Out of 17 funds, only one gave a negative return in the same Gold ETF gave a return of 21.37% in the calendar year 2024, followed by Tata Gold ETF which gave a return of 21.23%. Axis Gold ETF gave the lowest positive return of 19.22% in the said period. Groww Gold ETF lost 2.53% in the current calendar year so far, gold ETFs have offered an average return of 25.07%. There are around 17 schemes in the category. UTI Gold ETF has offered the highest return of 26%, followed by Invesco India Gold ETF which gave 25.27% return. Tata Gold ETF offered the lowest return of 23.99% in the current calendar year so far. Also Read | Gold & mutual funds: Which one is right for your portfolio now? If after looking at the past performance, you are willing to make an investment, Vishal Dhawan, CEO, Plan Ahead Wealth Advisors, a wealth management firm in Mumbai recommends that one can look to an allocation of 5% to 10% in commodities, and if it is not there yet, additional exposure should only be taken through a SIP strategy. 'As an alternative, one can look at a combined instrument like Gold and Silver as well through a SIP,' he added. According to a report by Ventura, 'we see considerable upside potential should geopolitical tensions escalate or global economic conditions deteriorate. US Federal rate cut actions could also be the upside trigger. Gold prices could rally significantly, possibly reaching $3,600–$3,700 per ounce, or Rs 1,01,000 – Rs 1,04,000 per 10 grams by next Akshaya Tritiya, which falls on April 19,2026. These projections reflect gold's enduring appeal as a safe haven in times of heightened uncertainty.' We considered all gold ETFs across different calendar years. We calculated the calendar year returns from January 1 to December 31 for each the above exercise is not a recommendation. The exercise was done to evaluate the performance of gold ETFs in the last 10 calendar should always make an investment decision based on investment horizon, risk appetite, and goals. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
