The aim of every investor in stock market is to buy low and sell high. However, with Gold Mining Stocks climbing higher, it becomes prudent to identify Best Gold Stocks, which have steam left in them. Such growth stocks are
Ausgold Limited (ASX: AUC)
On 14 October 2024, Ausgold Limited announced the approval of two new Mining Leases for its Katanning Gold Project over a total area of approximately 649 hectares that will underpin key areas of mining and supporting infrastructure. The company announced this coming from the Department of Energy, Mines, Industry Regulation and Safety and marks another step toward a proud step forward for the project, boasting a gold ore resource of 3.04 million ounces of gold in total. New leases issued to the company will allow the construction of processing facilities, tailings storage and waste management sites. Effectively, this will create a virtual doubling of the area covered under a mining lease.
An updated Mineral Resource Estimate for the Katanning Gold Project is provided, noting it is the largest free-milling, open-cut gold development in Western Australia, with a total resource of 89 million tonnes at an average grade of 1.06 grams per tonne. This is an increase of 15% in contained gold ounces compared to prior estimates. Measured and Indicated Resource now stands at 2.42 million ounces. Growth since the discovery of the Jinkas South deposit has been tremendous. Over the last four years, it has added more than 2 million ounces, with an independent review confirming that the resource remains open for further exploration.
The Definitive Feasibility Study (DFS) of the Katanning Gold Project has featured significant milestones. Some of those are: mining lease applications have been done, geotechnical assessment completions, and metallurgical test work to assist with process plant design. Proposals for on-site power supply have also been received, and a strategic review of the development plan is underway with an enhanced DFS expected by mid-2025. Additionally, the recent acquisition of two farming properties has reduced risks associated with project development.
In the past year, Ausgold has restructured its board, appointing industry veterans to key positions and successfully completing a A$38 million capital raising. This financial boost has placed the company in a solid position with no debt and A$25 million in cash, ready to advance the feasibility study and permitting processes. While focusing on the Katanning Gold Project, Ausgold also recognizes the potential of its wider exploration package and plans to explore high-priority targets in 2025. These targets include extending resources along strike, searching for regional repeats, and identifying satellite sources of high-grade ore.
WIA Gold Limited (ASX: WIA)
WIA Gold Limited, among ASX gold companies, has made significant strides in its exploration efforts across its projects in Namibia and Côte d’Ivoire, with a particular focus on the Kokoseb Gold Project in Namibia. The company announced an updated Mineral Resource Estimate (MRE) for Kokoseb, which now stands at 66 Mt at 1.0 g/t Au for 2.12 Moz, reflecting a 63% increase. Notably, the resource includes a higher-grade component of 34 Mt at 1.4 g/t Au for 1.53 Moz. These results confirm the project’s potential for further growth, with mineralisation remaining open in all directions and at depth, particularly in the newly discovered Eastern Zone. In Côte d’Ivoire, WIA commenced a 10,000m reverse circulation (RC) drilling program at the Bouaflé Project, marking a new phase of exploration. Additionally, the Issia Project yielded promising results, with soil sampling delineating a 7km-long anomalous gold corridor, returning multiple +15 ppb Au values and a peak gold-in-soil value of 19.8 g/t Au. These early-stage exploration results suggest the potential for significant discoveries in the region.
On the corporate front, WIA successfully raised A$27.8 million, ensuring that the company is fully funded to continue its aggressive exploration strategy. This capital will be primarily directed towards further expanding and upgrading the Kokoseb resource, with the company targeting a resource update in Q2 of 2025. The Kokoseb project’s rapid progress, from greenfield discovery to a resource of over 2 Moz, highlights the project's potential to become a cornerstone asset for WIA. The company's strategy remains focused on low-cost exploration in proven, yet underexplored, gold districts. With approximately 3,000km² of licenses in Namibia, WIA is positioning itself as a potential multi-mine operator in the region. The ongoing exploration and development activities aim to unlock further value, with the Kokoseb deposit providing a strong foundation for future growth.
Looking ahead, the continued focus on expanding the resource base and improving resource classification at Kokoseb, alongside exploration efforts in Côte d’Ivoire, positions WIA for sustained growth in the coming years.
Source: Company’s Report
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