GoldMinerPulse: TSX/TSXv Gold Mining and Silver Mining Companies

Last Updated With Closing Market Prices and Document Filings from: 21 June 2017 (as available at TSX closing time).


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Data Exploration Tools

  • 19 June 2017 - corrected a currency conversion issue when current liabilities or current assets involved multiple currency.

Please see nged for current TSX/TSXv gold explorer/developer rankings based on financial and fundamental metrics.

Please see ngp for current TSX/TSXv gold producer rankings based on financial and fundamental metrics.





   

Gold and Silver Production Statistics

Production Based on Last/Latest Four Quarters

Using the most recently available quarterly production reports, the gold and silver stocks listed on the TSX/TSXv are reporting production totals on a rolling 4 quarters of:

  • Gold: 25.15M ounces (862.29 tons or 782.25 tonnes), a 0.7% change over the 4 quarters ending at the prior quarter.

  • Silver: 162.67M ounces (5,577.26 tons or 5,059.60 tonnes), a -2.1% change over the previous 4 quarters ending at the prior quarter.

The running totals for quarterly production numbers for companies with a quarter ending in the months of January, February, March 2017, along with the changes on a Quarter on Quarter (QoQ) basis, for TSX/TSXv Gold and Silver producers are:

# Producers
Reporting
Gold Produced
Latest Q Report
QoQ
Gold Δ
Silver Produced
Latest Q Report
QoQ
Silver Δ
71 of 80 6,034,097 oz
 
206.9 tons
 
187.7 tonne
-9% 37,017,383 oz
 
1,269 tons
 
1,151 tonne
-7%

TSX/TSXv Gold Reserves and Resources

Gold reserves and resources for TSX/TSXv listed companies with at least 12.5% of their in situ metal values from gold:

Metric

 
Type of Equity

Gold Reserves
(tons)

 

Gold Resources
(tons, inclusive of reserves)

 

Gold Producers

13466 34857

Gold Developers

3878 13968

Gold Explorers
>5M Oz AuEq

2212 8479

Gold Explorers
<5M Oz AuEq

106 4575

All Gold Equities

19662 61878

Based on gold production rates reports over the last 4Q, TSX/TSXv gold producers have 21.5 years of gold reserves.

 

TSX/TSXv Silver Reserves and Resources

Silver reserves and resources for TSX/TSXv listed companies with at least 12.5% of their in situ metal values from silver:

Metric

 
Type of Equity

Silver Reserves
(tons)

 

Silver Resources
(tons, inclusive of reserves)

 

Silver Producers

116776 284635

Silver Developers

37974 137687

Silver Explorers
>5M Oz AuEq

6563 44421

Silver Explorers
<5M Oz AuEq

541 40641

All Silver Equities

161855 507385

Based on silver production rates reports over the last 4Q, TSX/TSXv silver producers have 33.6 years of reserves.

 

TSX/TSXv Gold and Silver Equities Statistics

The following table includes TSX/TSXv listed companies with at least 12.5 of their in situ metal values from gold or silver (in US$).

Type of Equity

 
Metric

Producers
 

 

Developers
 

 

Explorers
>5M Oz AuEq

 

Explorers
<5M Oz AuEq

 

Enterprise Value
Per Oz AuEq

$81 $14 $6 $20

Estimated Discovery Cost
Per Oz AuEq

  $14 $3 $24

Net Working Capital
(US$)

$21,545M $1,742M $513M $979M

TSX/TSXv Company Counts by Category

TSX/TSXv company may appear at most one time in the following table. Companies without a gold/silver resource (generators, historic and grass roots) are included on the basis of qualitative assessment of descriptions published in quarterly financial statements.

Category # of Companies in Category

Gold/Silver Streaming and Royalty Companies

6

Gold/Silver Producers

80

Gold/Silver Developers

110

Gold/Silver Explorers

205

Gold/Silver Generator Model Companies
(No Gold or Silver Resource)

NA

Gold/Silver Grass Roots Explorers
(No Gold or Silver Resource)

NA

Total Companies Listed in Sedar.com
(Current, historic, TSX/TSXv, CNDX, and others. See Note 1)

~30,000

Note 1: All TSX/TSXv listed companies are required to file in Sedar.com. However, Sedar.com companies include current companies, companies that no longer file (i.e. as a result of take over, merger, re-organization, bankruptcy, etc.), CNDX companies (Canadian over the counter market listings), and companies listed on foreign exchanges (e.g. US OTC, London, etc.) that have some connection with Canadian investors.

 

Gold and Silver Miner Market Capitalization Estimates

TSX/TSXv Grouping TSX/TSXv Total Market Capitalization
(Millions of US$)
Gold & Silver Producers $109,584
Gold & Silver Streamers $22,307
Gold & Silver Developers $11,062
Gold & Silver Explorers $7,437
Total TSX/TSXv Gold & Silver Miners $150,390
 
Market Cap Estimate For the World's
Gold & Silver miners (Millions of US$)
$527,384

Note: All TSX/TSXv companies with at least 12.5% of their total in situ metal value coming from either gold or silver and which match the category definitions, are included in the above table.

Gold & Silver Producers category includes those companies that report quarterly production counts and revenues for gold and/or silver production.

Gold & Silver Streamers category includes companies focused on creating gold/silver streams or royalty income flows.

Gold & Silver Developers category includes companies with an explicit plan to start production in the near term or which have a spending profile and work plans to imply potential future production.

Gold & Silver Explorers category includes companies that are primarily focused on expanding resource counts at one or more existing gold and silver projects without indicating plans for future production.

Generator and grass roots companies are not covered.

Market capitalization is always computed using closing market price (expressed in US$ using exchange rates in effact at market closing time) and the issued share of each company. Updates are made daily after the TSX market close.

TSX/TSXv Market Share Assumptions: the TSX/TSXv gold producers are estimated to represent approximately 25% of the world's gold producers since the TSX/TSXv gold producers report approximately 25% of the world's yearly gold production. The streamers, explorers and developers are estimated to represent very roughly 50% of the world total for companies in those groupings.

NOTE October 24, 2016: Lowered the TSX/TSXv producer gold production estimate to 25% down from 33% - thus the spike in Market Cap Estimate for the World's Gold & Silver miners.

The Market Cap Estimate For the World's Gold & Silver miners is computed based on the actual TSX/TSXv market capitalizations, computed on a daily basis here using closing market prices and Sedar.com material filings as available at the TSX market closing time, and applying the market share assumptions detailed above.

 

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Gold ETF Money Flows

Daily Price of Gold changes
Money Flows in/out of GLD
plus the SGE Premium and Settlement volume
mon-dd POG
% Chg
GLD SGE
Prem.
SGE
Sett.
Volume
June 22 ? ? ? 17.88t
June 21 0.33% $12.0M $9 26.02t
June 20 0.15% $14 23.35t
June 19 0.82% $16 17.71t

June 16 0.02% $10 30.28t
June 15 0.28% $48.0M $13 20.66t
June 14 0.58% $497.4M $20 16.57t
June 13 0.09% $7 15.46t
June 12 0.19% $10 13.92t

June 9 0.84% $13 22.59t
June 8 0.66% $84.7M $16 18.27t
June 7 0.49% $405.5M $13 18.27t
June 6 1.07% $173.0M $3 16.00t
June 5 0.12% $8 23.71t

June 2 0.83% $145.5M $8 16.89t
June 1 0.06% $7 13.58t
May 31 0.40% $3 14.48t
May 30 0.29% NA NA
May 29 0.03% NA NA NA

May 26 0.91% $4 37.66t
May 25 0.12% $12 16.94t
May 24 0.48% $0 16.16t
May 23 0.71% $203.8M $19 13.75t
May 22 0.42% $71.6M $4 13.53t

May 19 0.51% $5 18.82t
May 18 0.77% $47.7M $8 17.116t
May 17 1.78% $5 17.116t
May 16 0.46% $1 19.36t
May 15 0.24% $14 19.83t

May 12 0.34% $12 20.95t
May 11 0.38% $10 16.91t
May 10 0.06% $13 8.14t
May 9 0.59% $18 12.92t
May 8 0.16% $47.1M $13 8.66t

May 5 0.02% $13 10.36t
May 4 0.88% $11.1M $16 18.18t
May 3 1.38% $24 14.91t
May 2 0.02% $10 18.76t
May 1 0.81% NA NA

April 28 0.23% $10 23.17t
April 27 0.38% $36.1M $9 22.76t
April 26 0.47% $4 20.38t
April 25 0.98% $241.3M $17 17.39t
April 24 0.70% $60.4M $4 15.62t

April 21 0.27% $183.0M $3 17.72t
April 20 0.13% $268.4M $4 20.13t
April 19 0.76% $486.9M $11 22.70t
April 18 0.51% $2 20.78t
April 17 0.29% $11 19.68t

April 14 NA NA NA 18.76t
April 13 0.52% $268.8M $7 24.14t
April 12 0.73% $3 21.45t
April 11 1.45% $167.2M $3 13.49t
April 10 0.01% $71.1M $14 16.06t

April 7 0.17% $11.0M $20 16.80t
April 6 0.37% $12 9.86t
April 5 0.06% $8 17.91t
April 4 0.28% NA NA
April 3 0.42% $178.0M NA NA

A ? indicates that the closing data for the ETF is to be released - ETF updates happen typically after 8PM EST. Otherwise the cell is left blank if there was no change from the previous day.

A X indicates the GDX ETF did NOT release the end of day holdings.

POG % Chg is computed based on the Kitco gold spot price bid at TSX market closing time and the price at the previous TSX market close.

For GLD, a positive cell value indicated the value of the gold (in millions of dollars) added to the ETF while a negative cell value indicated the value of gold removed from the ETF. Values are computed from data provided by the GLD ETF operator.

The SGE Prem. (Shanghai Gold Exchange Premium) is computed as the difference between the SGE gold closing price (coverted at exchange rates in effect at the TSX close) and gold spot price as reported by Kitco at the TSX close. SGE Sett. (Shanghai Gold Exchange Settlement Volume) is sum of the Au(T+D) and mAu(T+D) daily settlement volumes as reported by the SGE.

 

Gold Price Rolling Regression for Multiple Time Periods - Daily Updates

GLD ETF Bullion Holdings Rolling Regression for Multiple Time Periods - Daily Updates

Click here for a scatter plot of GLD gold holdings versus price of gold.

 

DXY 4PM Quote Rolling Regression for Multiple Time Periods - Daily Updates

 

LBMA PM Gold Price Correlation With the Gold Held in the GLD ETF

The rolling 6Q scatter plot follows:

On a year by year basis the positive correlation between gold price and GLD gold holdings follows:

Finally, the correlation between gold price and GLD gold holdings over the last 10+ years of the GLD ETF follows:

Click here for more scatter plots.

 

LBMA PM Gold Price Correlation With the U.S. Dollar Index (DXY) Close

The DXY has been negatively correlated with gold price in recent years. The rolling 6Q scatter plot follows:



 

Shanghai Gold Exchange Gold Closing Price Versus Kitco Closing Price

The Shanghai Gold Exchange Yuan Renminbi price of gold and premium/discount in US dollars relative to the Kitco spot price at TSX close follows (yearly average and 1 year rolling time period comparisons):

Note: See China Public Holiday Calendar for the dates of up coming Chinese holidays.

Yearly Average Shanghai Gold Exchange Premium:
  • 2017 (YTD average): $11.04

  • 2016 (Full year average): $5.72

  • 2015 (Full year average): $2.17

  • 2014 (Full year average): $2.02

  • 2013 (Full year average): $14.94

Rolling Week on Week Comparisons of Shanghai Gold Exchange (SGE) Premiums (Δ) vs Kitco Spot Gold Price:

Date Shanghai Gold Exchange Close - Au(T+D) Kitco Spot Price at TSX Close SGE Δ
Yuan Renminbi/gram US$/oz
22 June 2017 277.19 $1262 ? ?
21 June 2017 275.62 $1255 $1246 $8
20 June 2017 275.82 $1258 $1242 $14
19 June 2017 276.10 $1260 $1244 $16
16 June 2017 276.83 $1264 $1254 $10
15 June 2017 277.20 $1267 $1254 $13
...
22 December 2016 259.45 $1161 $1129 $33
21 December 2016 260.86 $1169 $1131 $38
20 December 2016 261.83 $1172 $1131 $40
19 December 2016 262.67 $1175 $1139 $36
16 December 2016 261.77 $1170 $1134 $41
15 December 2016 263.15 $1180 $1128 $52
...
23 June 2016 258.66 $1270 $1263 $7
22 June 2016 266.17 $1257 $1265 $9
21 June 2016 271.50 $1281 $1268 $13
20 June 2016 272.02 $1287 $1290 $3
17 June 2016 272.21 $1285 $1297 $13
16 June 2016 277.31 $1310 $1280 $30

Currency conversions made using spot rates available on the date. The SGE Δ is computed as the SGE closing price in US$ minus Kitco Spot Price (bid) at TSX Close.

A ? indicates that the closing data update is pending.

See the SGE page for daily updates on the Shanghai Gold Exchange, including a comparison of SGE gold delivery from vault in 2014 versus 2013.

 

Gold and Silver Miner Daily Update Counts

The following plot shows showing a per day count of gold/silver producers/developers/explorers with one or more "metric impacting" Sedar updates (e.g. resource disclosures, financial statements, shares for debt, private placements, options grants, project ownership changes, mergers/acquisitions, etc.).

As of 11 July 2016, plot updates are being made at the end of each trading day, typically after GLD, GDX and GDXJ have reported their daily stats.

Note: Snapshots are always taken at 4PM of the current day. Any filings after 4PM will only be counted at the next close.

 

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