Gorilla Gold (ASX: GG8) Adds 900% More Gold- Time to Buy or Cash Out?

Gorilla Gold surges after a 900% resource increase: what’s next?

Gorilla Gold (ASX: GG8) climbed another 5% yesterday after announcing a 900% jump in gold resources at its Comet Vale project in Western Australia. The resource has grown from around 96,000 ounces to 860,000 ounces, a remarkable result for a company that has quietly become one of the ASX’s best-performing gold stocks this year. With shares up 136% year-to-date, the key question for investors is simple: is there still upside, or is it time to take profits?

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Comet Vale Emerges as a Camp-Scale Gold Project

The standout number from this update is the discovery cost. Gorilla found 765,000 new ounces at just AUD 25 per ounce. Most gold explorers spend between AUD 50 and AUD 150 to find each ounce, so Gorilla is delivering two to six times more value per exploration dollar. This tells us the team knows where to drill.

The updated resource now sits at 7.3 million tonnes grading 3.7 grams per tonne for 860,000 ounces. This includes three new discoveries made in 2025: Sovereign, Cheer, and Lakeview. Importantly, Comet Vale has a proven track record, with historical production of over 200,000 ounces at an impressive 20 grams per tonne from underground operations that ran until 2018.

The project also benefits from its location. It sits on granted mining leases next to the Goldfields Highway, with several operating gold mills within 100 kilometres. This means Gorilla could potentially toll-treat ore without building its own mill, significantly reducing the capital needed to start production.

Gorilla Gold’s Growth Strategy Is Working

CEO Charles Hughes has focused on buying overlooked gold projects near existing infrastructure and drilling them aggressively. The strategy is simple but effective: find forgotten assets with good geology, then prove up the resource quickly.

The results have been impressive: Gorilla has added 1.3 million ounces across Comet Vale, Mulwarrie, and Vivien in 2025 alone. The company now holds 1.5 million ounces of gold across Western Australia, grading 3.8 grams per tonne. Development studies are underway for all three projects. This rapid growth shows management knows how to create value and suggests more discoveries could follow.

Is Gorilla Gold a Buy at Current Levels?

At around an AUD 300 million market cap for 1.5 million ounces, Gorilla Gold trades at roughly AUD 200 per resource ounce. This is reasonable compared to similar developers in the Goldfields region, suggesting the stock is not yet overpriced despite its strong run this year.

We believe further upside is possible if exploration success continues and development studies progress well.
However, investors should weigh the risks carefully. Gorilla has no revenue and will need to raise capital to fund ongoing exploration and eventual development. This means potential share dilution down the track, which is common for junior explorers at this stage of development. Gold price weakness could also hurt sentiment towards junior explorers, regardless of how well they execute operationally.

What to watch: The next catalysts include further drilling results from Lakeview, progress on development studies, and any announcements about toll-treating arrangements with nearby processing mills.

Our take: Gorilla Gold looks attractive for investors comfortable with exploration risk. The discovery economics are exceptional, the assets are well-located, and management is executing. After a 136% run, we would suggest building a position gradually rather than buying all at once. For existing holders, the momentum remains strong, but trimming a portion to lock in gains is a sensible approach.