Here are 5 under the radar ASX gold stocks that gained over 300% in 5 years

Nick Sundich Nick Sundich, March 18, 2024

Despite the rally in gold, there are plenty of under the radar ASX gold stocks. In particular, there are a handful of companies that have demonstrated consistent growth in good and bad times for the gold price.

By the way, we are focusing on under the radar stocks. Not companies like Bellevue Gold (ASX:BGL) and De Grey (ASX:DEG) that have made very public rises – we’re looking at producers that have garnered little mainstream attention, but delivered spectacular returns to shareholders. Without any further ado, here are 5 such companies on the ASX.

 

5 under the radar ASX gold stocks

 

Perseus Mining (ASX:PRU)

Perseus is up 360% in 5 years, even in spite of being off all time highs and slightly in the red over the last 12 months. It is one of the few miners on the ASX to thrive in Africa, with 3 projects in the West of the Continent (2 in Cote d’Ivoire and one in Ghana).

These assets produced over 500,000/oz in CY23 with an AISC of under US$1,000 and average sale price of US$1,913/oz. It holds US$642m in net cash. It recorded just over $1bn in revenue, up 16%, and a US$349.3m profit, up 41%. Despite forecasting a slight rise in costs, it is still anticipating ~500k ounces of production in CY24.

 

Genesis Minerals (ASX:GMD)

Genesis has grown 503% in 5 years from an explorer with a 1.6Moz Resource to a Miner with 15Moz Resources and 3.9Mz Reserve. Its foundation assets were the Ulysses and Admiral gold deposits, but bought several assets in 2022 and 2023 including the Mt Morgans mill, the Jupiter and Gwalia mines. It has US$192m in cash and has other assets where it is exploring at. Later this month, it is planning to launch a 5-year outlook for production, costs and exploration.

 

Capricorn Metals (ASX:CMM)

This company tops the lot with a 1390% gain in 5 years, all thanks to a pair of projects in WA, Karlawinda and Mt Gibson. It has produced over 120,000 ounces from the former alone in FY23, at a ASIC of US$1,208/oz. It is hoping to do the same with Mt Gibson, a historic gold mine that had been mothballed for 30 years due to low gold prices in the 1990s.

It has made a Maiden Ore Reserve Estimate (ORE) of 1.45Moz at Mt Gibson and told investors it could be a case of the sequel being just as good as the original. Yes, it used those exact words at its AGM last year, noting it has larger Mineral Resources and Ore Reserves, a similar open pit mine life, metallurgy, physical ore properties and material movement volumes.

 

Tietto Minerals (ASX:TIE)

Tietto has been the subject of a takeover bid but it has not come to anything. The Abujar Project in Cote d’Ivoire began production in mid-2023 and is anticipated to produce 170koz over the next 9 years with a NPV of A$1.35bn. The successful entry into production has led to a 652% return in 5 years. The company has further exploration prospects in Liberia.

 

Emerald Resources (ASX:EMR)

Last on our list is Emerald Resources that has generated a 373% return in 5 years. It has 3 projects. First, the Okvau Gold Mine in Cambodia that produced over 100koz in 2023 and a $126m operating profit after tax at an AISC of just US$799/oz. The second and third are the North Laverton and Memot Gold projects that are at an exploration stage but with development activities to begin in the next 12-18 months. Mermot just unveiled a Maiden Resource of 8Mt @ 1.84g/t for 470koz.

 

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