Stock of the Week
Small-Cap Gold: Developers to watch as the gold price climbs
Jan 15, 2026
Rising gold prices are shining a spotlight on ASX-listed developers like De Grey Mining with near-term catalysts.
Gold has climbed above US 2100 per ounce, driven by central bank buying, geopolitical hedging, and expectations that the global rate cycle has peaked. For ASX-listed gold developers, higher prices improve project economics and attract funding interest.
De Grey Mining Hemi project in Western Australia is the standout. The resource base continues to grow with ongoing drilling, and feasibility studies point to a large-scale, low-cost operation. Management is progressing permitting and evaluating development financing options.
Nova Minerals is advancing exploration at its Alaska gold projects, though earlier-stage investors should note the higher risk profile and funding requirements typical of exploration companies.
Our models suggest that sustained gold prices above US 2000 per ounce make several ASX developers increasingly attractive on a risk-adjusted basis. Key catalysts to watch include resource updates, feasibility results, and strategic partnership announcements.