GoldMinerPulse: TSX/TSXv Gold Mining and Silver Mining Companies

Gold / silver miners, metals streamer / royalty companies and blockchain / cryptocurrency companies listing on TSX / TSXv / CSE.


High Value Tips

Frank Holmes, June 11, 2021
Transitory or Not, Inflation Is Here. It Could Be Much Higher Than You Realize

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Frank Holmes, June 10, 2021

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Gold / Metal Streamers and Cryptocurrencies / Blockchain Updates

GoldMinerPulse is tracking cryptocurrency/blockchain companies and streaming / royalty companies accessing or likely to access Canadian capital markets.


     

GOAU: A New Way to Invest in Gold and Precious Metals

Watch this exciting interview at Kitco news for a first-hand introduction to GOAU, a gold and precious metals ETF launching soon. Learn more about this game-changing product here and view the SEC filing details here.

Unlike other gold ETFs, GOAU implements a "quant" strategy to guide its stock selection. Drawing from an array of factors that have proven successful, the new ETF seeks, for instance, to discriminate between companies with good and bad management and to identify companies with superior metrics. This active, discriminating approach not only is attractive for its own sake, but is buttressed by back testing results going back 10 years.

Also be sure to check out GOGO and Galileo which lists the U.S. Global Go Gold and Precious Metal Miners ETF under its list of funds. I fully expect the GOAU and GOGO to become major ETF players once the next gold bull run starts.

Anyone looking for exposure to the gold sector need look no further than GOAU on the NYSE and GOGO on the TSX.




Data Exploration Tools

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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

13655 37414

Gold Developers

3435 11972

Gold Explorers
>5M Oz AuEq

2198 9094

Gold Explorers
<5M Oz AuEq

138 4405

All Gold Equities

19427 62885

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

$72 $12 $5 $22

Estimated Discovery Cost
Per Oz AuEq

  $13 $3 $25

Net Working Capital
(US$)

$18,581M $1,351M $477M $819M
 

Gold and Silver Miner Market Capitalization Estimates

TSX/TSXv Grouping TSX/TSXv Total Market Capitalization
(Millions of US$)
Gold & Silver Producers $117,741
Gold & Silver Streamers $13,420
Gold & Silver Developers $10,703
Gold & Silver Explorers $7,812
Total TSX/TSXv Gold & Silver Miners $149,676
 
Market Cap Estimate For the World's
Gold & Silver miners (Millions of US$)
$542,645

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 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.).

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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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 bullion
flows$
SGE Au(t+d)
direction
SGE
Prem.
SGE
Sett.
Volume
June 14 -0.58%

June 11 -0.60% Short to Long $10 10.80t
June 10 -0.08% $88.3M Long to Short -$16 15.89t
June 9 -0.13% $354.9M Long to Short -$11 14.57t
June 8 -0.43% Long to Short -$34 14.14t
June 7 0.44% -$354.4M Short to Long -$42 14.71t

June 4 1.10% $84.6M Short to Long -$33 20.20t
June 3 -1.99% Short to Long -$2 15.72t
June 2 0.55% -$249.2M Long to Short -$22 10.66t
June 1 -0.43% $160.0M Short to Long $18 15.44t
May 31 0.18% Long to Short $2 11.68t
May 28 0.35% -$52.9M Long to Short -$4 16.02t

May 28 0.35% -$52.9M Long to Short $4 16.02t
May 27 0.05% Short to Long $10 18.04t
May 26 0.54% -$123.8M Short to Long $17 11.45t
May 25 0.54% Short to Long -$1 12.74t
May 24 0.11% $193.0M Short to Long $9 15.80t

May 21 0.16% $352.1M Long to Short $1 13.45t
May 20 0.40% $353.4M Short to Long $3 17.84t
May 19 0.04% -$279.7M Short to Long $9 21.61t
May 18 0.21% Long to Short $10 20.53t
May 17 1.19% $447.4M Long to Short -$2 12.47t

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.

 

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.

Recent 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
June 14 $1866

June 11 384.89 $1877 $1887 $10
June 10 384.89 $1872 $1888 -$16
June 9 385.85 $1879 $1890 -$11
June 8 385.27 $1872 $1892 -$34
June 7 383.78 $1866 $1900 -$42

June 4 382.11 $1858 $1891 -$33
June 3 384.80 $1869 $1871 -$2
June 2 387.27 $1888 $1909 -$22
June 1 393.38 $1917 $1899 $18
May 31 390.99 $1909 $1907 $2

May 28 388.99 $1900 $1896 -$4
May 27 391.37 $1907 $1896 $17
May 26 393.11 $1913 $1896 $17
May 25 389.91 $1892 $1893 -$1
May 24 390.82 $1883 $1892 $9

May 21 389.32 $1882 $1881 $1
May 20 389.09 $1880 $1877 $3
May 19 388.73 $1879 $1870 $9
May 18 388.28 $1879 $1870 $10
May 17 385.81 $1864 $1866 -$2

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.

 

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