Gold has had one of its biggest months this January, as bullion punched through all-time highs on the back of United States President Donald Trump’s inauguration, followed by uncertainty over tariffs, interest rates, and a DeepSeek tech stock drop.
Spot gold rose to a record US$2,799.71/oz this week and is on course for a 6.5% rise for the month, its strongest 28-day performance since March last year. ASX mid-tiers rode the wave with a ~15% average share price rise in January.
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Northern Star Resources (ASX: NST) shares are up almost 12% for the month on the back of news it will purchase De Grey Mining (ASX:DEG) with its +11Moz Hemi deposit in WA’s Pilbara, the latter gaining 14%.
It also penned a $45 million agreement with MLG Oz for site services across NST’s Jundee, South Kalgoorlie, Kanowna Belle and KCGM operations.
Newmont (ASX: NEM) shares are up 16% after generating $6.8 billion from divestments across the globe, including the sale of the Telfer operation in WA for up to US$475 million.
Ramelius Resources (ASX: RMS) is up almost 20% in the past four weeks after posting record-breaking underlying cash of $161.1 million
CEO Mark Zeptener says the company is tracking ahead of plan on production and cost profile driven by the high-grade Cue ore so far exceeding expectations in terms of grade.
“Our geological and operational teams at Mt Magnet are undertaking a geological model review of Cue during the March 2025 quarter, reconciling both tonnes and grade mined and milled to date, also incorporating recent grade control drilling,” Zeptener said.
And could-be party pooper Gold Road Resources (ASX: GOR) shares are up about 20% too with record gold sales, even if it has not fully supported NST’s bid for De Grey (of which GOR is a major shareholder).
Evolution Mining (ASX : EVN) stocks are up almost 20% too, while Perseus Mining (ASX: PRU) rose 10.9% in January.
It’s an ideal time to be a gold producer, and with the release of their Q4 earnings, both Gold Road and Perseus had cash, cash equivalents and investments of a whopping $1 billion between them at the moment.
