Copper exchange inventories have remained roughly constant for the last few weeks. Could it be just a pause for a market heading towards a surplus this year or another unexpected deficit like in previous years? Update on metals market and junior mining companies listed on the Australian Securities Exchange

1. Oz Metals
24th
Edition – 5th
Apr 2015
DISCLAIMER
This report is provided in good faith from sources believed to be accurate and reliable. Terra Studio Pty Ltd directors and employees do not accept liability
for the results of any action taken on the basis of the information provided or for any errors or omissions contained therein. Readers should seek
investment advice from their professional advisors before acting upon information contained herein.
Page 1 / 4
TerraStudio
COPPER INVENTORIES ON A PLATEAU
Base Metals & Precious Metals Fundamentals
Sources: COMEX, LME, RBA, SHFE
$50
$55
$60
$65
$70
$75
Jan-14 Apr-14 Jul-14 Oct-14 Jan-15
CIFPriceofChineseImports
Bauxite
US$/t
$A/t
$2.0
$2.3
$2.6
$2.9
$3.2
$3.5
$3.8
$4.1
0
100
200
300
400
500
600
700
Apr-14 Jul-14 Oct-14 Jan-15 Apr-15
ThousandTonnes
Copper
SHFE COMEX LME
US$/lb A$/lb
$1,100
$1,200
$1,300
$1,400
$1,500
$1,600
$1,700
Apr-14 Jul-14 Oct-14 Jan-15 Apr-15
Gold
A$/oz
US$/oz
$15.0
$17.5
$20.0
$22.5
$25.0
Apr-14 Jul-14 Oct-14 Jan-15 Apr-15
Silver
A$/oz
US$/oz
$5
$6
$7
$8
$9
$10
$11
0
100
200
300
400
500
600
Apr-14 Jul-14 Oct-14 Jan-15 Apr-15
$/lb
ThousandTonnes
Nickel
LME US$ A$
$0.70
$0.80
$0.90
$1.00
$1.10
$1.20
$1.30
0
200
400
600
800
1,000
1,200
Apr-14 Jul-14 Oct-14 Jan-15 Apr-15
$/lb
ThousandTonnes
Zinc
SHFE LME US$ A$

2. Oz Metals
24th
Edition – 5th
Apr 2015
DISCLAIMER
This report is provided in good faith from sources believed to be accurate and reliable. Terra Studio Pty Ltd directors and employees do not accept liability
for the results of any action taken on the basis of the information provided or for any errors or omissions contained therein. Readers should seek
investment advice from their professional advisors before acting upon information contained herein.
Page 2 / 4
TerraStudio
Markets & Majors
According to the latest CPM Gold Yearbook, mine supply in
2014 reached a record 90.5Moz; “there was a large amount
of new mine capacity that came on-stream during 2013,
which was being ramped up in 2014, helping to boost mine
supply during the year. Additionally, there were new projects
that were started during 2014, which also helped to boost
mine production during the year and offset any loss in
output from existing mines.” Several major producing
countries also reached multi-year or all-time highs. Canada
achieved record gold output in 2014 (160t, +29%) and
jumped two positions up, from 7th
to 5th
place, surpassing
South Africa for the first time. Australia’s annual gold
production reached its highest level since 2003, rising to
284t (9.1Moz) for the full 2014 year, up 11t (353,000oz) or 4%
y/y.
Thomson Reuters - The volume of gold sold forward by
mining companies rose by 103 tonnes last year, the biggest
annual increase since 1999, an industry report showed on
Friday. That far outstrips an estimate given late last year of
42-52 tonnes, after Mexican gold and silver miner Fresnillo
said it was hedging 47 tonnes of output over five years. In
their quarterly Global Hedge Book Analysis, Société
Générale and GFMS analysts at Thomson Reuters said the
bulk of the rise in the global gold hedge book last year was
driven by Fresnillo and Russia's Polyus Gold, which
announced a major hedging deal in July. "Of the growth in
the book in 2014, the majority (85 tonnes) came from these
two companies. Together they now account for half of the
outstanding global hedging," the report said.
Thomson Reuters - Chile's state-run Codelco produced
1.672 million tonnes of copper in 2014, a 3.1% rise from a
year earlier. The company said the jump in output was
mostly due to Codelco's newest mine, Ministro Hales, which
produced 141,200 tonnes copper in 2014, up from just
33,600 tonnes in 2013 when it was in its initial ramp-up
phase. The increase more than made up for production
decreases that totaled 64,000 tonnes, at Radomiro Tomic,
Gabriela Mistral and Andina. Codelco's two oldest mines,
open-pit Chuquicamata and underground El Teniente,
increased their copper output by a combined 7,000 tonnes
last year. Codelco direct cash costs in 2014 were 7.8%
lower than a year earlier at $1.50 per pound of copper.
SNL - Barrick Gold Corp. decided to remove the US$6
billion Cerro Casale gold-copper project in Chile from its
pipeline of priority projects after receiving results of a report
conducted last year on the profitability of the operation. As a
result, the company said its budget for the project this year
has decreased significantly. Separately, Reuters reported
that Barrick Gold lost its bid to dismiss a U.S. lawsuit
accusing the gold major of hiding environmental issues at its
troubled Pascua Lama gold-copper project straddling the
Chilean-Argentinean border.
Thomson Reuters - Proposals made to the Mongolian
government by global mining giant Rio Tinto last November
to restart the long-delayed Oyu Tolgoi copper mine were the
firm's "best and final offer" and won't be changed, Rio's chief
executive said. Rio submitted the proposals to resolve some
outstanding issues, including a $127 million tax claim that
has already been cut to $30 million as well as the approval
of a $4 billion project finance package to pay for phase-two
construction.
Funding, Mergers & Acquisitions
Industry sources expressed concern that some investors in
X2 Resources may run out of patience, as the portfolio of
the private equity fund led by former Xstrata CEO Mick
Davis remains empty, Reuters wrote. X2 Resources, which
has raised US$6 billion in capital, has approached Vale SA,
Rio Tinto and BHP Billiton to acquire assets, according to
banking and industry sources. The mining giants, however,
supposedly did not want to sell in the hopes of seeing a
rebound in prices.
Dismissing recent reports, Teck Resources said March 30
that it is not in talks with Antofagasta regarding a potential
merger between the companies. Bloomberg News had
reported earlier, citing "people with knowledge of the
matter," that both companies had held early stage talks
about a possible merger deal that would create one of the
world's largest copper producers. Antofagasta also
separately confirmed that it is not in discussions about the
merger.
PanAust has received a letter from Guangdong Rising
Assets Management (“GRAM”), announcing its intention to
make an unconditional, off-market takeover offer to acquire
all of the shares (not currently held by GRAM) of PanAust at
a cash price of $1.71 per share, which values the ASX-listed
copper producer at roughly A$1.09 billion. On Monday 30
March 2015, GRAM released its Bidders Statement on the
ASX advising that it expected to dispatch the document to
PanAust shareholders on or about 13 April 2015. GRAM is a
significant shareholder in PanAust and, at the time of the
approach, held approximately 22.5% of the Company.
PanAust notes that the Takeover Offer is unsolicited and
has been made at a time when both the PanAust share
price and spot prices for copper and gold have been trading
at near 5 year lows. PanAust also notes that GRAM made a
non-binding and indicative takeover proposal in April 2014
at a higher price of A$2.30 per share, or about A$1.37 billion;
however, no formal takeover proposal at that price was ever
received by PanAust. PanAust notes the Takeover Offer is
not yet open for acceptances. PanAust said its board will

3. Oz Metals
24th
Edition – 5th
Apr 2015
DISCLAIMER
This report is provided in good faith from sources believed to be accurate and reliable. Terra Studio Pty Ltd directors and employees do not accept liability
for the results of any action taken on the basis of the information provided or for any errors or omissions contained therein. Readers should seek
investment advice from their professional advisors before acting upon information contained herein.
Page 3 / 4
TerraStudio
consider the offer and provide advice to shareholders in due
course.
Apollo Minerals has completed the acquisition of a 70%
stake in the Orpheus base metals joint venture project in
southeastern Western Australia, under a deal inked in
February. Under the deal, Apollo acquired a 70% interest in
four of Enterprise Metals’ six Fraser Range nickel project
tenements in Western Australia.
Corazon Mining said April 1 has completed the transaction
to acquire the Victory nickel-copper project located at the
Lynn Lake field in Manitoba from Victory Nickel Inc. Under
the agreement, the company issued 40 million shares to
Victory Nickel. Victory Nickel will retain a 1.5% net smelter
royalty on production from the project area, 1% of which can
be purchased by Corazon for A$1 million. Corazon is
required to spend A$3.5 million on exploration and resource
development within five years on execution of the
agreement. The Victory nickel-copper project comprises 17
million tonnes at 0.66% nickel and 0.33% copper for
112,000 tonnes of nickel and 57,000 tonnes of copper.
FMC Corp. completed the sale of its Alkali Chemicals
business to Tronox Ltd. in a deal valued at US$1.64 billion.
Galaxy Resources closed the sale of its troubled Jiangsu
lithium carbonate plant in China to Sichuan Tianqi Lithium
Industries, The West Australian reported. Under the
amended terms, the value of the deal was reduced to
US$173.2 million, from US$230 million originally.
Poseidon Nickel has now taken ownership of the Black
Swan nickel project from Norilsk Nickel with the completion
of the transaction. The company's short-term focus remains
on its Lake Johnston and Windarra projects. The Western
Australian operation comprises the Black Swan nickel
sulfide concentrator plant, the Black Swan sulfide ore open
pit mine and the Silver Swan underground mine. The
2.15mtpa processing plant was extensively upgraded and
expanded in 2006 and was put on care and maintenance in
February 2009 during the global financial crisis. Poseidon
updated the resource for the project in August 2014 to 30.7
million tonnes at 0.58% nickel for 178,700 tonnes of
contained nickel in the indicated and inferred categories.
Segue Resources Ltd and Port Exploration Pty Ltd are set
to enter into a joint venture for Segue Resources' Pardoo
nickel sulfide project in Western Australia. The two
companies have signed a binding term sheet to enter into a
joint venture agreement within 90 days, with Port
Exploration paying an initial A$50,000 fee to the company
and becoming a subsidiary or assigning its interest to an
ASX-listed company within six months. Under the
agreement, Port Exploration can earn an initial 51% interest
in the property by spending A$250,000 on exploration within
12 months, and can then increase its interest to 80% by
spending another A$250,000 on exploration within 12
months of earning the stage-one interest. If exercised,
Segue Resources will then have the right to sell its
remaining 20% interest to Port Exploration for shares in the
company or any of its listed head companies, subject to
various approvals.
Mercantile Investment Co. Ltd has launched a roughly
A$3.2 million cash takeover bid for ASX-listed Phosphate
Australia Ltd. Mercantile, which already holds a 9% stake in
Phosphate Australia, plans to buy shares between April 14
and May 14 unless it extends the offer period. Phosphate
Australia has advised its shareholders not to act on the offer
until the company can review it and make a
recommendation.
Bauxite Sector
Source: Bloomberg, SNL Metals & Mining, Terra Studio
Lithium-Tantalum Sector
Source: SNL Metals & Mining, Terra Studio
Tin Sector
Source: SNL Metals & Mining
Nickel Sector
Source: SNL Metals & Mining
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
ABX Australian Bauxite 0.35 ▼ (3%) 15% 44 5 40
BAU Bauxite Resources 0.088 ▲ 17% (10%) 20 25 (4)
CAY Canyon Resources 0.045 ▼ (4%) (10%) 6 1 5
MLM Metallica Minerals 0.069 ▲ 35% 25% 12 1 11
MMI Metro Mining 0.067 ▲ 14% 148% 19 8 12
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
AJM Altura Mining 0.020 — 0% (69%) 9 3 9
GXY Galaxy Resources 0.033 ▲ 32% 32% 35 13 128
ORE Orocobre 2.23 ▼ (3%) (20%) 343 26 344
PLS Pilbara Minerals Ltd. 0.039 ▼ (3%) (7%) 24 2 21
RDR Reed Resources 0.040 ▲ 5% 5% 20 7 18
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
CSD Consolidated Tin Mines 0.042 ▼ (7%) 2% 12 0 11
ELT Elementos 0.008 ▲ 14% 0% 6 1 5
KAS Kasbah Resources 0.037 ▼ (3%) (31%) 17 4 11
MLX Metals X 1.27 ▲ 5% 61% 526 57 419
MOO Monto Minerals 0.001 — 0% (50%) 1 1 1
SRZ Stellar Resources 0.035 ▼ (10%) 21% 11 4 8
VMS Venture Minerals 0.026 ▲ 4% (16%) 7 7 4
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
TEV/
EBITDA
IGO Independence Group 5.20 ▼ (7%) 17% 1,218 57 1,127 NA
MBN Mirabella Nickel 0.120 — 0% 314% 112 18 223 0.4x
MCR Mincor Resources 0.65 ▼ (5%) 11% 122 26 104 NA
PAN Panoramic Resources 0.49 ▼ (16%) 17% 157 64 99 1.3x
WSA Western Areas 3.37 ▼ (13%) (10%) 784 231 733 NA
AVQ Axiom Mining 0.165 ▲ 1400% 1000% 40 2 37 NM
CZI Cassini Resources 0.08 ▲ 4% (33%) 9 8 7 NA
DKM Duketon Mining 0.17 ▲ 13% (35%) 13 7 6 NA
LEG Legend Mining 0.008 ▲ 14% 14% 16 7 9 NM
MAT Matsa Resources 0.175 ▲ 9% 3% 25 3 25 NA
MLM Metallica Minerals 0.069 ▲ 35% 25% 12 1 11 NA
PIO Pioneer Resources 0.018 — 0% 38% 12 1 10 NA
POS Poseidon Nickel 0.12 ▼ (4%) (4%) 79 4 95 NA
SEG Segue Resources 0.006 ▲ 20% 20% 12 1 11 NA
SGQ St George Mining 0.076 ▲ 17% 21% 8 1 7 NA
SIR Sirius Resources 2.60 ▼ (10%) 2% 888 59 643 NM
TLM Talisman Mining 0.16 ▼ (6%) 3% 21 16 6 NA
WIN Winward Resources 0.35 ▼ (14%) 116% 37 6 34 NA

4. Oz Metals
24th
Edition – 5th
Apr 2015
DISCLAIMER
This report is provided in good faith from sources believed to be accurate and reliable. Terra Studio Pty Ltd directors and employees do not accept liability
for the results of any action taken on the basis of the information provided or for any errors or omissions contained therein. Readers should seek
investment advice from their professional advisors before acting upon information contained herein.
Page 4 / 4
TerraStudio
Copper Producers
Source: SNL Metals & Mining
Copper Developers & Explorers
Source: SNL Metals & Mining, Terra Studio
Zinc & Poly-metallic Sector
Source: SNL Metals & Mining
Gold Producers
Source: SNL Metals & Mining
Gold Developers & Explorers
Source: SNL Metals & Mining, Terra Studio
For further information, please contact:
J-François Bertincourt
m +61 406 998 779
jf@terrastudio.biz
au.linkedin.com/in/jfbertincourt
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
TEV/
EBITDA
ABY Aditya Birla Minerals 0.19 — 0% (5%) 58 137 (46) NA
HGO Hillgrove Resources 0.36 ▼ (4%) (21%) 52 9 63 1.3x
KBL KBL Mining 0.021 — 0% (30%) 10 7 33 NA
MWE Mawson West 0.040 ▼ (11%) (20%) 16 21 67 NM
OZL OZ Minerals 3.84 ▼ (0%) 10% 1,165 219 947 2.7x
PNA PanAust 1.74 ▲ 39% 23% 1,062 74 1,289 NM
SFR Sandfire Resources 4.53 ▲ 6% (0%) 707 58 791 NA
SRQ Straits Resources 0.004 — 0% (20%) 5 13 162 NA
TGS Tiger Resources 0.053 ▼ (5%) (59%) 61 80 275 5.8x
985 CST Mining 0.048 — 0% 9% 1,301 136 207 0.5x
1208 MMG 2.62 ▲ 6% 9% 13,859 251 85,541 14.7x
3993 China Molybdenum 6.51 ▲ 31% 45% 76,447 9,326 78,009 20.3x
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
AOH Altona Mining 0.110 ▲ 10% (54%) 59 129 (70)
ARE Argonaut Resources 0.010 — 0% (38%) 4 1 3
AVB Avanco Resources 0.074 ▲ 4% (3%) 123 20 103
AVI Avalon Minerals 0.027 ▼ (10%) 35% 5 1 3
AZS Azure Minerals 0.014 ▲ 8% (42%) 14 1 0
CDU CuDeco (suspended) 1.41 — 0% (28%) 351 7 406
CVV Caravel Minerals 0.007 ▼ (13%) (13%) 5 1 5
ENR Encounter Resources 0.11 ▲ 10% (15%) 15 4 13
ERM Emmerson Resources 0.028 ▲ 4% (10%) 11 2 8
FND Finders Resources 0.16 ▲ 7% 3% 102 48 103
GCR Golden Cross Resources 0.061 ▲ 11% (13%) 6 2 5
GPR Geopacific Resources 0.036 ▼ (8%) (31%) 14 4 10
HAV Havilah Resources 0.25 ▲ 2% 79% 39 3 36
HCH Hot Chili 0.12 ▼ (4%) (28%) 40 6 46
HMX Hammer Metals 0.075 ▼ (6%) (9%) 8 1 7
IAU Intrepid Mines 0.11 ▲ 5% (19%) 41 74 (33)
KDR Kidman Resources 0.040 ▼ (7%) (40%) 5 3 4
KGL KGL Resources 0.16 ▼ (3%) (31%) 22 9 13
MEP Minotaur Exploration 0.10 — 0% (31%) 18 5 12
MNC Metminco 0.005 — 0% (38%) 10 1 9
MTH Mithril Resources 0.005 ▼ (29%) (29%) 2 2 1
PEX Peel Mining 0.080 ▲ 19% 16% 11 3 9
RDM Red Metal 0.045 ▲ 5% (44%) 8 2 3
RER Regal Resources 0.045 — 0% (2%) 10 2 7
RTG RTG Mining 0.550 ▲ 4% (5%) 71 2 68
RXM Rex Minerals 0.085 ▼ (3%) (23%) 19 3 11
SMD Syndicated Metals 0.019 ▼ (5%) (41%) 5 2 4
SRI Sipa Resources 0.079 ▲ 4% 114% 49 4 48
SUH Southern Hemisphere 0.012 ▲ 20% (72%) 3 2 2
THX Thundelarra Resources 0.068 — 0% (38%) 22 7 14
XAM Xanadu Mines 0.100 ▲ 11% 0% 37 8 37
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
AQR Aeon Metals 0.070 ▼ (15%) (30%) 21 5 33
DGR DGR Global 0.044 — 0% 38% 18 0 20
HRR Heron Resources 0.12 ▼ (11%) (4%) 43 28 19
IBG Ironbark Zinc 0.083 ▼ (8%) 4% 37 3 34
IPT Impact Minerals 0.013 ▲ 8% (46%) 7 1 5
IVR Investigator Resources 0.012 ▲ 9% (25%) 6 3 1
MRP MacPhersons Resources 0.125 ▲ 9% 0% 39 5 35
PNX Phoenix Copper 0.017 — 0% (43%) 6 3 3
RDM Red Metal 0.045 ▲ 5% (44%) 8 8 (0)
RVR Red River Resources 0.14 ▼ (10%) 27% 25 4 21
RXL Rox Resources 0.030 ▼ (3%) 7% 26 3 23
TZN Terramin Australia 0.130 ▲ 4% 18% 197 1 196
VXR Venturex Resources 0.004 — 0% (20%) 6 1 5
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
TEV/
EBITDA
AGD Austral Gold 0.09 ▼ (25%) (31%) 43 NA 35 NA
ALK Alkane Resources 0.31 ▲ 2% 39% 126 16 107 NA
AMI Aurelia Metals 0.25 ▼ (4%) 4% 97 22 198 NA
BDR Beadell Resources 0.26 ▼ (9%) 13% 204 13 308 4.8x
BOK Black Oak Minerals 0.38 ▼ (3%) 41% 17 11 31 NA
DRM Doray Minerals 0.46 ▼ (1%) (4%) 110 16 109 NA
EVN Evolution Mining 0.88 ▲ 3% 36% 627 32 757 3.7x
IGO Independence Group 5.20 ▼ (7%) 17% 1,218 57 1,127 NA
KCN Kingsgate Consolidated 0.71 ▲ 4% 8% 159 54 242 NA
KRM Kingsrose Mining 0.22 ▼ (7%) (16%) 77 7 88 NA
LSA Lachlan Star 0.024 — 0% 20% 4 2 22 NA
MIZ Minera Gold 0.002 ▲ 33% (33%) 6 0 11 NA
MLX Metals X 1.27 ▲ 5% 61% 526 57 419 NA
MML Medusa Mining 0.96 — 0% 48% 199 13 192 NA
MOY Millennium Minerals 0.028 ▼ (13%) (24%) 6 2 42 NM
NCM Newcrest Mining 13.78 ▲ 1% 27% 10,563 141 14,980 NA
NGF Norton Gold Fields 0.20 — 0% 60% 186 19 314 4.8x
NST Northern Star Resources 2.35 ▼ (3%) 58% 1,392 82 1,364 NA
OGC OceanaGold Corp. 2.54 ▲ 0% 26% 771 NA 855 2.8x
PGI PanTerra Gold 0.190 ▲ 36% 6% 16 3 80 NM
PRU Perseus Mining 0.31 ▼ (3%) 17% 161 37 126 2.2x
RMS Ramelius Resources 0.115 ▲ 5% 125% 54 12 37 NA
RRL Regis Resources 1.29 ▼ (6%) (33%) 642 7 652 NA
RSG Resolute Mining 0.29 ▼ (6%) 9% 186 19 217 NA
SAR Saracen Mineral Holdings 0.44 ▼ (1%) 71% 345 36 325 NA
SBM St Barbara 0.22 ▼ (2%) 110% 109 79 432 NA
SLR Silver Lake Resources 0.19 ▼ (5%) (3%) 96 24 102 NA
TBR Tribune Resources 3.35 ▲ 2% 26% 168 11 182 10.6x
TRY Troy Resources 0.48 ▼ (8%) 4% 94 43 134 NA
UML Unity Mining 0.010 ▲ 25% 43% 11 7 (1) NA
Code Company Name
Close
Price
Week Δ YTD Δ
52 Week
Range
Market Cap
(A$m)
Cash
(A$m)
TEV
(A$m)
AYC A1 Consolidated 0.035 ▲ 9% (13%) 10 0 9
ABU ABM Resources 0.23 — 0% (20%) 79 11 68
AWV Anova Metals 0.045 ▼ (2%) 67% 13 1 12
AZM Azumah Resources 0.020 ▼ (5%) 0% 8 4 7
BLK Blackham Resources 0.150 ▼ (3%) 194% 27 3 24
BSR Bassari Resources 0.011 ▼ (8%) (8%) 13 0 13
CHN Chalice Gold Mines 0.13 ▲ 4% 19% 35 43 (7)
CHZ Chesser Resources 0.034 — 0% (6%) 8 1 3
DCN Dacian Gold 0.47 ▼ (4%) 68% 45 8 38
EXC Exterra Resources 0.012 ▼ (8%) (8%) 2 1 2
EXG Excelsior Gold 0.095 ▲ 2% 56% 44 2 44
FML Focus Minerals 0.006 ▼ (8%) (14%) 55 9 46
GCY Gascoyne Resources 0.091 ▲ 1% 28% 16 1 16
GMR Golden Rim Resources 0.010 ▲ 25% 100% 14 1 14
GOR Gold Road Resources 0.34 ▼ (7%) 39% 202 21 181
GRY Gryphon Minerals 0.067 ▲ 12% 5% 27 34 3
IDC Indochine Mining 0.006 — 0% (50%) 8 0 10
KGD Kula Gold 0.045 ▲ 7% 2% 12 3 9
MSR Manas Resources 0.017 ▲ 6% 21% 9 0 8
MUX Mungana Goldmines 0.120 ▼ (8%) (4%) 29 5 34
OGX Orinoco Gold 0.082 ▼ (2%) 39% 13 1 11
PNR Pacific Niugini 0.070 ▲ 6% 40% 27 1 26
PXG Phoenix Gold 0.090 ▼ (2%) (8%) 38 6 32
RED Red 5 0.105 ▼ (5%) 14% 80 38 62
RNI Resource & Investment 0.078 ▲ 7% 4% 39 5 56
RNS Renaissance Minerals 0.041 ▼ (9%) (37%) 16 4 12
SAU Southern Gold 0.013 ▲ 8% 63% 7 1 6
SIH Sihayo Gold 0.011 — 0% 38% 12 0 7
TAM Tanami Gold 0.027 ▼ (7%) 93% 32 1 42
WAF West African Resources 0.070 ▼ (7%) (30%) 19 3 19
WPG WPG Resources 0.037 ▲ 3% (3%) 10 3 7