Gold Beta

How much a stock moves when gold moves. Learn more

167

Stocks measured

Published betas

1.35×

Median beta

Market median

High torque

Beta ≥ 2.00

Low torque

Beta ≤ 0.75

404

Insufficient signal

R² < 0.10 or thin history

Exclude $10B+ majors252 sessions (daily)

Beta Distribution

≤ 0.25

0.25–0.50

0.50–0.75

0.75–1.00

1.00–1.25

1.25–1.50

1.50–1.75

1.75–2.00

2.00–2.50

2.50–3.00

> 3.00

Low Torque

High Torque

Market Median 1.35×

Beta calculated over 252 daily sessions vs GLD returns. Published only when R² ≥ 0.10.

#	Stock	Company	Beta	R²
1	HYMCHycroft Mining Holding Corporation	Hycroft Mining Holding Corporation	2.61	0.38
2	SSVFFSouthern Silver Exploration Corp.	Southern Silver Exploration Corp.	2.43	0.35
3	GRSLFGR Silver Mining Ltd.	GR Silver Mining Ltd.	2.30	0.25
4	AUMBF1911 Gold Corp.	1911 Gold Corp.	2.30	0.30
5	TRXTRX Gold Corporation	TRX Gold Corporation	2.27	0.44
6	AGXPFSilver X Mining Corp.	Silver X Mining Corp.	2.25	0.34
7	SRCRFScorpio Gold Corporation	Scorpio Gold Corporation	2.23	0.27
8	PGEZFStillwater Critical Minerals Corp.	Stillwater Critical Minerals Corp.	2.20	0.22
9	SVRSFSilver Storm Mining Ltd.	Silver Storm Mining Ltd.	2.17	0.28
10	USASAmericas Gold and Silver Corporation	Americas Gold and Silver Corporation	2.14	0.46
11	MMRGFMinaurum Silver Inc.	Minaurum Silver Inc.	2.14	0.28
12	THMInternational Tower Hill Mines, Ltd.	International Tower Hill Mines, Ltd.	2.11	0.35
13	AUSTAustin Gold Corp.	Austin Gold Corp.	1.96	0.34
14	FFMGFFirst Mining Gold Corp.	First Mining Gold Corp.	1.93	0.31
15	VGZVista Gold Corp.	Vista Gold Corp.	1.90	0.40
16	NGNovaGold Resources Inc.	NovaGold Resources Inc.	1.90	0.50
17	PGLDFP2 Gold Inc.	P2 Gold Inc.	1.86	0.22
18	SLVTFSilver Tiger Metals Inc.	Silver Tiger Metals Inc.	1.86	0.38
19	TDRRFTudor Gold Corp.	Tudor Gold Corp.	1.83	0.30
20	MUXMcEwen Inc.	McEwen Inc.	1.82	0.57
21	SBSWSibanye Stillwater Limited	Sibanye Stillwater Limited	1.81	0.55
22	PLGPlatinum Group Metals LTD.	Platinum Group Metals LTD.	1.81	0.38
23	SASeabridge Gold, Inc.	Seabridge Gold, Inc.	1.76	0.54
24	RVLGFRevival Gold Inc.	Revival Gold Inc.	1.73	0.41
25	THSGFThesis Gold & Silver Inc.	Thesis Gold & Silver Inc.	1.73	0.37
26	GAUGaliano Gold Inc.	Galiano Gold Inc.	1.73	0.44
27	TARSFSilver North Resources Ltd.	Silver North Resources Ltd.	1.72	0.11
28	WRNWestern Copper and Gold Corporation	Western Copper and Gold Corporation	1.72	0.48
29	PPTAPerpetua Resources Corp. Common Shares	Perpetua Resources Corp. Common Shares	1.71	0.43
30	IAGIAMGOLD Corporation	IAMGOLD Corporation	1.71	0.58
31	CHXMFTroilus Mining Corp.	Troilus Mining Corp.	1.71	0.40
32	LBCMFCopper Giant Resources Corp.	Copper Giant Resources Corp.	1.70	0.15
33	TSKFFTalisker Resources Ltd.	Talisker Resources Ltd.	1.67	0.30
34	HSTXFHeliostar Metals Ltd.	Heliostar Metals Ltd.	1.66	0.45
35	FGOVFFreegold Limited	Freegold Limited	1.65	0.41
36	JAGGFJaguar Mining Inc.	Jaguar Mining Inc.	1.65	0.47
37	WHGOFWhite Gold Corp.	White Gold Corp.	1.65	0.25
38	NXGCFNexGold Mining Corp.	NexGold Mining Corp.	1.64	0.36
39	NFGCNew Found Gold Corp	New Found Gold Corp	1.63	0.38
40	SSRMSSR Mining Inc.	SSR Mining Inc.	1.62	0.45
41	SKESkeena Resources Limited	Skeena Resources Limited	1.62	0.54
42	SMDRFSierra Madre Gold and Silver Ltd	Sierra Madre Gold and Silver Ltd	1.60	0.23
43	CNLCollective Mining Ltd.	Collective Mining Ltd.	1.60	0.43
44	TORXFTorex Gold Resources Inc.	Torex Gold Resources Inc.	1.58	0.55
45	ITRGIntegra Resources Corp.	Integra Resources Corp.	1.57	0.44
46	ARISAris Mining Corporation	Aris Mining Corporation	1.57	0.35
47	GAYMFGalway Metals Inc.	Galway Metals Inc.	1.57	0.17
48	BYAGFBanyan Gold Corp.	Banyan Gold Corp.	1.57	0.26
49	LGDTFLiberty Gold Corp.	Liberty Gold Corp.	1.56	0.30
50	MAUTFMontage Gold Corp.	Montage Gold Corp.	1.55	0.48
51	DCDakota Gold Corp.	Dakota Gold Corp.	1.55	0.43
52	TLOFFTalon Metals Corp.	Talon Metals Corp.	1.55	0.15
53	ALVLFBig Ridge Gold Corp.	Big Ridge Gold Corp.	1.54	0.14
54	ELEElemental Royalty Corporation	Elemental Royalty Corporation	1.54	0.40
55	ONGRFONGold Resources Ltd.	ONGold Resources Ltd.	1.53	0.12
56	BTGB2Gold Corp.	B2Gold Corp.	1.53	0.50
57	MGMLFMaple Gold Mines Ltd.	Maple Gold Mines Ltd.	1.52	0.23
58	NKGFFNevada King Gold Corp.	Nevada King Gold Corp.	1.52	0.18
59	ELRRFEloro Resources Ltd.	Eloro Resources Ltd.	1.52	0.23
60	RIOFFRio2 Limited	Rio2 Limited	1.51	0.41
61	FURYFury Gold Mines Limited	Fury Gold Mines Limited	1.50	0.32
62	FSMFortuna Mining Corp.	Fortuna Mining Corp.	1.49	0.52
63	EGOEldorado Gold Corporation	Eldorado Gold Corporation	1.49	0.53
64	IAUXi-80 Gold Corp.	i-80 Gold Corp.	1.48	0.42
65	ALMAlliance Mining Corp.	Alliance Mining Corp.	1.48	0.20
66	CGAUCenterra Gold Inc.	Centerra Gold Inc.	1.47	0.59
67	SNWGFSnowline Gold Corp.	Snowline Gold Corp.	1.46	0.46
68	AWLRFAwale Resources Limited	Awale Resources Limited	1.45	0.24
69	IEIvanhoe Electric Inc.	Ivanhoe Electric Inc.	1.44	0.28
70	DPMLFDPM Metals Inc.	DPM Metals Inc.	1.43	0.57
71	CRDOFCerrado Gold Inc.	Cerrado Gold Inc.	1.43	0.33
72	NRRSFNorsemont Mining Inc.	Norsemont Mining Inc.	1.42	0.16
73	OMGGFOmai Gold Mines Corp.	Omai Gold Mines Corp.	1.42	0.30
74	RMRDFRadisson Mining Resources Inc.	Radisson Mining Resources Inc.	1.42	0.22
75	GSHRFGold X2 Mining Inc.	Gold X2 Mining Inc.	1.41	0.25
76	WGXRFWestgold Resources Limited	Westgold Resources Limited	1.40	0.47
77	KNTNFK92 Mining Inc.	K92 Mining Inc.	1.40	0.54
78	AUAUA2 Gold Corp.	A2 Gold Corp.	1.39	0.74
79	TETOFTectonic Metals Inc.	Tectonic Metals Inc.	1.38	0.13
80	SCTSFScottie Resources Corp.	Scottie Resources Corp.	1.37	0.25
81	GGOXFGalleon Gold Corp.	Galleon Gold Corp.	1.36	0.34
82	AMEGFAmerican Eagle Gold Corp.	American Eagle Gold Corp.	1.36	0.15
83	CMCLCaledonia Mining Corporation Plc	Caledonia Mining Corporation Plc	1.35	0.36
84	BVNBuenaventura Mining Company Inc.	Buenaventura Mining Company Inc.	1.35	0.52
85	SYHBFSkyharbour Resources Ltd.	Skyharbour Resources Ltd.	1.34	0.19
86	DNRSFDenarius Metals Corp.	Denarius Metals Corp.	1.32	0.16
87	JUGRFJuggernaut Exploration Ltd.	Juggernaut Exploration Ltd.	1.31	0.17
88	HCHDFHochschild Mining PLC	Hochschild Mining PLC	1.30	0.29
89	NGXXFNGEx Minerals Ltd	NGEx Minerals Ltd	1.29	0.37
90	ARGTFArtemis Gold Inc.	Artemis Gold Inc.	1.28	0.46
91	LNRCFLunR Royalties Corp.	LunR Royalties Corp.	1.28	0.18
92	HSLVHighlander Silver Corp.	Highlander Silver Corp.	1.28	0.66
93	CPPKFFaraday Copper Corp.	Faraday Copper Corp.	1.26	0.24
94	GROYGold Royalty Corp.	Gold Royalty Corp.	1.26	0.39
95	ATXRFATEX Resources Inc.	ATEX Resources Inc.	1.26	0.32
96	ISOUIsoEnergy Ltd.	IsoEnergy Ltd.	1.26	0.23
97	SLSRSolaris Resources Inc.	Solaris Resources Inc.	1.25	0.35
98	VROYFVizsla Royalties Corp.	Vizsla Royalties Corp.	1.24	0.25
99	KTGDFK2 Gold Corporation	K2 Gold Corporation	1.24	0.15
100	OROR Royalties Inc.	OR Royalties Inc.	1.23	0.57
101	FDMIFFounders Metals Inc.	Founders Metals Inc.	1.23	0.24
102	WRLGFWest Red Lake Gold Mines Ltd.	West Red Lake Gold Mines Ltd.	1.22	0.34
103	RMLRFRamelius Resources Limited	Ramelius Resources Limited	1.20	0.17
104	SASKFATHA Energy Corp.	ATHA Energy Corp.	1.20	0.14
105	AECAnfield Energy Inc.	Anfield Energy Inc.	1.20	0.16
106	GRLVFGroup Eleven Resources Corp.	Group Eleven Resources Corp.	1.19	0.13
107	FWEDFFireweed Metals Corp.	Fireweed Metals Corp.	1.19	0.25
108	CBGZFCabral Gold Inc.	Cabral Gold Inc.	1.19	0.17
109	AMXEFAmex Gold Mining Inc.	Amex Gold Mining Inc.	1.18	0.26
110	AXREFAmarc Resources Ltd.	Amarc Resources Ltd.	1.18	0.20
111	PAUIFPremier American Uranium Inc.	Premier American Uranium Inc.	1.18	0.12
112	VOXRVox Royalty Corp.	Vox Royalty Corp.	1.17	0.37
113	OCGSFOutcrop Silver & Gold Corporation	Outcrop Silver & Gold Corporation	1.17	0.40
114	MTAMetalla Royalty & Streaming Ltd.	Metalla Royalty & Streaming Ltd.	1.17	0.37
115	OMZNFOsisko Metals Incorporated	Osisko Metals Incorporated	1.17	0.19
116	NEXMNexMetals Mining Corp.	NexMetals Mining Corp.	1.16	0.21
117	TFPMTriple Flag Precious Metals Corp.	Triple Flag Precious Metals Corp.	1.16	0.53
118	MRRDFMeridian Mining Plc	Meridian Mining Plc	1.15	0.26
119	AMQFFAbitibi Metals Corp.	Abitibi Metals Corp.	1.14	0.10
120	GCUMFGunnison Copper Corp.	Gunnison Copper Corp.	1.13	0.10
121	DNNDenison Mines Corp.	Denison Mines Corp.	1.13	0.26
122	NTCPFNorthIsle Copper and Gold Inc.	NorthIsle Copper and Gold Inc.	1.13	0.20
123	UROYUranium Royalty Corp.	Uranium Royalty Corp.	1.13	0.17
124	MINEMayfair Gold Corp.	Mayfair Gold Corp.	1.12	0.28
125	RLTWFTiernan Gold Corp.	Tiernan Gold Corp.	1.11	0.16
126	BADEFHercules Metals Corp.	Hercules Metals Corp.	1.10	0.14
127	ARREFAmerigo Resources Ltd.	Amerigo Resources Ltd.	1.09	0.31
128	BBBXFBrixton Metals Corporation	Brixton Metals Corporation	1.09	0.10
129	GOTRFGoliath Resources Limited	Goliath Resources Limited	1.07	0.25
130	PMNXFPerseus Mining Limited	Perseus Mining Limited	1.07	0.33
131	GGPSFGreatland Resources Limited	Greatland Resources Limited	1.06	0.11
132	AGMRFSilver Mountain Resources Inc.	Silver Mountain Resources Inc.	1.05	0.39
133	GSVRFGuanajuato Silver Company Ltd	Guanajuato Silver Company Ltd	1.03	0.38
134	ASMAvino Silver & Gold Mines Ltd.	Avino Silver & Gold Mines Ltd.	1.00	0.53
135	AAGFFAftermath Silver Ltd.	Aftermath Silver Ltd.	0.99	0.44
136	SCZMSantacruz Silver Mining Ltd.	Santacruz Silver Mining Ltd.	0.98	0.61
137	SITKFSitka Gold Corp.	Sitka Gold Corp.	0.98	0.16
138	KRYXFKoryx Copper S.A.	Koryx Copper S.A.	0.98	0.13
139	KLDCFKenorland Minerals Ltd.	Kenorland Minerals Ltd.	0.97	0.19
140	NXENexGen Energy Ltd.	NexGen Energy Ltd.	0.97	0.23
141	SUMMFSummit Royalties Ltd.	Summit Royalties Ltd.	0.95	0.37
142	EXKEndeavour Silver Corp.	Endeavour Silver Corp.	0.95	0.56
143	BKRRFBlackrock Silver Corp.	Blackrock Silver Corp.	0.94	0.39
144	AGFirst Majestic Silver Corp.	First Majestic Silver Corp.	0.94	0.58
145	DSVSFDiscovery Mining Ltd.	Discovery Mining Ltd.	0.93	0.50
146	GLDGGoldMining Inc.	GoldMining Inc.	0.92	0.27
147	NEWPNew Pacific Metals Corp.	New Pacific Metals Corp.	0.92	0.43
148	ABBRFAbraSilver Resource Corp.	AbraSilver Resource Corp.	0.91	0.47
149	MMNGFMetallic Minerals Corp	Metallic Minerals Corp	0.89	0.24
150	ANPMFAndean Precious Metals Corp.	Andean Precious Metals Corp.	0.89	0.46
151	SVMSilvercorp Metals Inc. Common Shares	Silvercorp Metals Inc. Common Shares	0.87	0.57
152	PNPNFPower Metallic Mines Inc.	Power Metallic Mines Inc.	0.87	0.11
153	APGOFApollo Silver Corp.	Apollo Silver Corp.	0.84	0.36
154	HBEIFHoney Badger Silver Inc.	Honey Badger Silver Inc.	0.82	0.10
155	AGAGFArgenta Silver Corp.	Argenta Silver Corp.	0.81	0.24
156	GLGDFGoGold Resources Inc.	GoGold Resources Inc.	0.81	0.50
157	CAPTFCapitan Silver Corp.	Capitan Silver Corp.	0.76	0.26
158	VZLAVizsla Silver Corp.	Vizsla Silver Corp.	0.74	0.44
159	ATUSFAltius Minerals Corporation	Altius Minerals Corporation	0.73	0.26
160	OGNNFOrogen Royalties Inc.	Orogen Royalties Inc.	0.73	0.11
161	CTGOContango Silver & Gold Inc.	Contango Silver & Gold Inc.	0.68	0.40
162	ADSLFAndean Silver Limited	Andean Silver Limited	0.67	0.21
163	SLCRFSilver Crown Royalties Inc.	Silver Crown Royalties Inc.	0.57	0.11
164	BGLDBoreal Gold Inc.	Boreal Gold Inc.	0.51	0.17
165	PAGFFPacifica Silver Corp.	Pacifica Silver Corp.	0.46	0.12
166	GCCGolden Cariboo Resources Ltd.	Golden Cariboo Resources Ltd.	0.44	0.46
167	EMREmergent Metals Corp.	Emergent Metals Corp.	0.38	0.11
–	AAGCALL AMERICAN GOLD CORP	ALL AMERICAN GOLD CORP	N/A	–
–	ABMAben Gold Corp.	Aben Gold Corp.	N/A	–
–	ADYAdyton Resources Corporation	Adyton Resources Corporation	N/A	–
–	ADZAdamera Minerals Corp.	Adamera Minerals Corp.	N/A	–
–	AIRClean Air Metals Inc.	Clean Air Metals Inc.	N/A	–
–	ALGRFALGO GRANDE COPPER CORP	ALGO GRANDE COPPER CORP	N/A	–
–	ALMAAlma Gold Inc.	Alma Gold Inc.	N/A	–
–	ALTAAltamira Gold Corp.	Altamira Gold Corp.	N/A	–
–	AMCArizona Metals Corp.	Arizona Metals Corp.	N/A	–
–	AMCOFAmericore Resources Corp.	Americore Resources Corp.	N/A	–
–	ANKOFAngkor Resources Corp.	Angkor Resources Corp.	N/A	–
–	APXApex Resources Inc.	Apex Resources Inc.	N/A	–
–	ARAAFAclara Resources Inc.	Aclara Resources Inc.	N/A	–
–	ARKArras Minerals Corp.	Arras Minerals Corp.	N/A	–
–	ARRNFAmerican Rare Earths Limited	American Rare Earths Limited	N/A	–
–	ASEAsante Gold Corporation	Asante Gold Corporation	N/A	–
–	ASHLAshley Gold Corp.	Ashley Gold Corp.	N/A	–
–	ASTRAstra Exploration Inc.	Astra Exploration Inc.	N/A	–
–	ATCATERRA Metals Inc.	ATERRA Metals Inc.	N/A	–
–	AUGCFAu Gold Corp.	Au Gold Corp.	N/A	–
–	AUHIFAdvanced Gold Exploration Inc.	Advanced Gold Exploration Inc.	N/A	–
–	AUOZEmperor Metals Inc.	Emperor Metals Inc.	N/A	–
–	AWMAngel Wing Metals Inc.	Angel Wing Metals Inc.	N/A	–
–	AWRAurwest Resources Corporation	Aurwest Resources Corporation	N/A	–
–	AWXArcWest Exploration Inc.	ArcWest Exploration Inc.	N/A	–
–	AYAAya Gold & Silver Inc.	Aya Gold & Silver Inc.	N/A	–
–	AZASFArizona Gold & Silver Inc.	Arizona Gold & Silver Inc.	N/A	–
–	AZEMFArizona Eagle Mining Corp.	Arizona Eagle Mining Corp.	N/A	–
–	AZMAzimut Exploration Inc.	Azimut Exploration Inc.	N/A	–
–	AZZTFAztec Minerals Corp.	Aztec Minerals Corp.	N/A	–
–	BARUFBaru Gold Corporation	Baru Gold Corporation	N/A	–
–	BERLFRockland Resources Ltd.	Rockland Resources Ltd.	N/A	–
–	BEXBenton Resources Inc.	Benton Resources Inc.	N/A	–
–	BGFBeauce Gold Fields Inc.	Beauce Gold Fields Inc.	N/A	–
–	BGLBlue Gold Limited Class A Ordinary Shares	Blue Gold Limited Class A Ordinary Shares	N/A	–
–	BHSBayhorse Silver Inc.	Bayhorse Silver Inc.	N/A	–
–	BIRDThunderbird Minerals Corp.	Thunderbird Minerals Corp.	N/A	–
–	BOGOBorealis Mining Company Limited	Borealis Mining Company Limited	N/A	–
–	BPAGBP Silver Corp.	BP Silver Corp.	N/A	–
–	BRWBrunswick Exploration Inc.	Brunswick Exploration Inc.	N/A	–
–	BSXGFBelo Sun Mining Corp.	Belo Sun Mining Corp.	N/A	–
–	BTRBonterra Resources Inc.	Bonterra Resources Inc.	N/A	–
–	BTUBTU Metals Corp.	BTU Metals Corp.	N/A	–
–	BVABravada Gold Corporation	Bravada Gold Corporation	N/A	–
–	CAMCascadia Minerals Ltd.	Cascadia Minerals Ltd.	N/A	–
–	CAMBCambria Gold Mines Inc.	Cambria Gold Mines Inc.	N/A	–
–	CANCanadian Gold Resources Ltd.	Canadian Gold Resources Ltd.	N/A	–
–	CANXCANEX Metals Inc.	CANEX Metals Inc.	N/A	–
–	CAPRCaprock Mining Corp.	Caprock Mining Corp.	N/A	–
–	CASACasa Minerals Inc.	Casa Minerals Inc.	N/A	–
–	CBIColibri Resource Corporation	Colibri Resource Corporation	N/A	–
–	CBNWFCARBON STREAMING CORPORATION	CARBON STREAMING CORPORATION	N/A	–
–	CGDCFCarlin Gold Corporation	Carlin Gold Corporation	N/A	–
–	CGDXFXali Gold Corp.	Xali Gold Corp.	N/A	–
–	CHPGFChesapeake Gold Corp.	Chesapeake Gold Corp.	N/A	–
–	CMETClarity Metals Corp.	Clarity Metals Corp.	N/A	–
–	CNDIFCANADIAN COPPER INC.	CANADIAN COPPER INC.	N/A	–
–	CNRICanadian North Resources Inc.	Canadian North Resources Inc.	N/A	–
–	CNRIFCondor Resources Inc.	Condor Resources Inc.	N/A	–
–	CNUCFCanuc Resources Corporation	Canuc Resources Corporation	N/A	–
–	COCCFCoast Copper Corp.	Coast Copper Corp.	N/A	–
–	COSRFCosigo Resources Ltd.	Cosigo Resources Ltd.	N/A	–
–	CPNFFEuro Sun Mining Inc.	Euro Sun Mining Inc.	N/A	–
–	CPPMFCoppernico Metals Inc	Coppernico Metals Inc	N/A	–
–	CRBCariboo Rose Resources Ltd.	Cariboo Rose Resources Ltd.	N/A	–
–	CRGCrossroads Gold Corp.	Crossroads Gold Corp.	N/A	–
–	CRTIFCartier Silver Corporation	Cartier Silver Corporation	N/A	–
–	CTGCentenario Gold Corp	Centenario Gold Corp	N/A	–
–	CTMCFCanterra Minerals Corporation	Canterra Minerals Corporation	N/A	–
–	DAUDesert Gold Ventures Inc.	Desert Gold Ventures Inc.	N/A	–
–	DBGDoubleview Gold Corp.	Doubleview Gold Corp.	N/A	–
–	DECDecade Resources Ltd.	Decade Resources Ltd.	N/A	–
–	DEFDefiance Silver Corp.	Defiance Silver Corp.	N/A	–
–	DGCOFDAURA GOLD CORP	DAURA GOLD CORP	N/A	–
–	DLTADelta Resources Limited	Delta Resources Limited	N/A	–
–	DMXDistrict Metals Corp.	District Metals Corp.	N/A	–
–	DNGDynacor Group Inc.	Dynacor Group Inc.	N/A	–
–	DRYGFDryden Gold Corp.	Dryden Gold Corp.	N/A	–
–	ECRFFCartier Resources Inc.	Cartier Resources Inc.	N/A	–
–	EDGEndurance Gold Corporation	Endurance Gold Corporation	N/A	–
–	ELEMElement79 Gold Corp.	Element79 Gold Corp.	N/A	–
–	ELREastern Platinum Limited	Eastern Platinum Limited	N/A	–
–	EMErrington Metals Inc.	Errington Metals Inc.	N/A	–
–	EMGDFEminent Gold Corp.	Eminent Gold Corp.	N/A	–
–	EMOEmerita Resources Corp.	Emerita Resources Corp.	N/A	–
–	EMUSElectric Metals (USA) Limited	Electric Metals (USA) Limited	N/A	–
–	ENDREnduro Metals Corporation	Enduro Metals Corporation	N/A	–
–	EPLEagle Plains Resources Ltd.	Eagle Plains Resources Ltd.	N/A	–
–	ERLFFEntree Resources Ltd.	Entree Resources Ltd.	N/A	–
–	ESAUFESGold Corp.	ESGold Corp.	N/A	–
–	ESKYFEskay Mining Corp.	Eskay Mining Corp.	N/A	–
–	ETFEastfield Resources Ltd.	Eastfield Resources Ltd.	N/A	–
–	EXNExcellon Resources Inc.	Excellon Resources Inc.	N/A	–
–	FASLFFirst Andes Silver Ltd.	First Andes Silver Ltd.	N/A	–
–	FFFNF55 North Gold Inc.	55 North Gold Inc.	N/A	–
–	FFMFFFireFly Metals Ltd.	FireFly Metals Ltd.	N/A	–
–	FFOXFFireFox Gold Corp.	FireFox Gold Corp.	N/A	–
–	FGFalcon Gold Corp.	Falcon Gold Corp.	N/A	–
–	FINXFinex Metals Ltd.	Finex Metals Ltd.	N/A	–
–	FMANFFreeman Gold Corp.	Freeman Gold Corp.	N/A	–
–	FMRFairmont Resources Inc.	Fairmont Resources Inc.	N/A	–
–	FORFortune Bay Corp.	Fortune Bay Corp.	N/A	–
–	FREDFFredonia Mining Inc.	Fredonia Mining Inc.	N/A	–
–	FRGForge Resources Corp.	Forge Resources Corp.	N/A	–
–	FUUFFF3 Uranium Corp.	F3 Uranium Corp.	N/A	–
–	FWMFlow Metals Corp.	Flow Metals Corp.	N/A	–
–	FYLFinlay Minerals Ltd.	Finlay Minerals Ltd.	N/A	–
–	GALKFGalantas Gold Corporation	Galantas Gold Corporation	N/A	–
–	GARLFRoxmore Resources Inc.	Roxmore Resources Inc.	N/A	–
–	GCNGoldcliff Resource Corporation	Goldcliff Resource Corporation	N/A	–
–	GCPGolcap Resources Corp.	Golcap Resources Corp.	N/A	–
–	GDPGolden Pursuit Resources Ltd.	Golden Pursuit Resources Ltd.	N/A	–
–	GDSRFGold Strike Resources Corp.	Gold Strike Resources Corp.	N/A	–
–	GFGGFG Resources Inc	GFG Resources Inc	N/A	–
–	GFKRFOpus One Gold Corporation	Opus One Gold Corporation	N/A	–
–	GGGolconda Gold Ltd.	Golconda Gold Ltd.	N/A	–
–	GGIGaribaldi Resources Corp.	Garibaldi Resources Corp.	N/A	–
–	GGLDGeneral Copper Gold Corp.	General Copper Gold Corp.	N/A	–
–	GGMGranada Gold Mine Inc.	Granada Gold Mine Inc.	N/A	–
–	GHCCFGOLD HART COPPER CORP.	GOLD HART COPPER CORP.	N/A	–
–	GHRTFGreenheart Gold Inc.	Greenheart Gold Inc.	N/A	–
–	GLATFGlobal Atomic Corporation	Global Atomic Corporation	N/A	–
–	GLDCCassiar Gold Corp.	Cassiar Gold Corp.	N/A	–
–	GMTLGuardian Metal Resources PLC	Guardian Metal Resources PLC	N/A	–
–	GMVGMV Minerals Inc.	GMV Minerals Inc.	N/A	–
–	GMXGlobex Mining Enterprises Inc.	Globex Mining Enterprises Inc.	N/A	–
–	GORGoldrea Resources Corp.	Goldrea Resources Corp.	N/A	–
–	GOROGoldgroup Mining Inc.	Goldgroup Mining Inc.	N/A	–
–	GPGGrande Portage Resources Ltd.	Grande Portage Resources Ltd.	N/A	–
–	GPMGPM Metals Inc.	GPM Metals Inc.	N/A	–
–	GPSGreat Plains Metals Corp.	Great Plains Metals Corp.	N/A	–
–	GQCGoldquest Mining Corp.	Goldquest Mining Corp.	N/A	–
–	GRAPFFirst Canadian Graphite Inc.	First Canadian Graphite Inc.	N/A	–
–	GRAYGraycliff Exploration Limited	Graycliff Exploration Limited	N/A	–
–	GRGGolden Arrow Resources Corporation	Golden Arrow Resources Corporation	N/A	–
–	GRHKGreenhawk Resources Inc.	Greenhawk Resources Inc.	N/A	–
–	GRIGalore Resources Inc.	Galore Resources Inc.	N/A	–
–	GRUNGold Runner Exploration Inc.	Gold Runner Exploration Inc.	N/A	–
–	GSKRFGoldsky Resources Corp.	Goldsky Resources Corp.	N/A	–
–	GXLDHi-View Resources Inc	Hi-View Resources Inc	N/A	–
–	GYGCGUYANA GOLD CORP	GUYANA GOLD CORP	N/A	–
–	GZDGrizzly Discoveries Inc.	Grizzly Discoveries Inc.	N/A	–
–	HAMRFSilver Hammer Mining Corp.	Silver Hammer Mining Corp.	N/A	–
–	HANCFHanstone Gold Corp.	Hanstone Gold Corp.	N/A	–
–	HAYHayasa Metals Inc.	Hayasa Metals Inc.	N/A	–
–	HHHHelius Minerals Limited	Helius Minerals Limited	N/A	–
–	HHLKFHot Chili Ltd	Hot Chili Ltd	N/A	–
–	HLUCFHomeland Uranium Corp.	Homeland Uranium Corp.	N/A	–
–	HMMCFHemlo Mining Corp	Hemlo Mining Corp	N/A	–
–	HPMHalcones Precious Metals Corp.	Halcones Precious Metals Corp.	N/A	–
–	HTRCHigh Tide Resources Corp.	High Tide Resources Corp.	N/A	–
–	HUSIFNicola Mining Inc.	Nicola Mining Inc.	N/A	–
–	HVGDFHarvest Gold Corp.	Harvest Gold Corp.	N/A	–
–	HWGHeadwater Gold Inc.	Headwater Gold Inc.	N/A	–
–	ICGSFICG SILVER & GOLD LTD.	ICG SILVER & GOLD LTD.	N/A	–
–	IDRIdaho Strategic Resources, Inc.	Idaho Strategic Resources, Inc.	N/A	–
–	IEGCFIndependence Gold Corp.	Independence Gold Corp.	N/A	–
–	IMRiMetal Resources Inc.	iMetal Resources Inc.	N/A	–
–	IPTIMPACT Silver Corp.	IMPACT Silver Corp.	N/A	–
–	IRVRFIrving Resources Inc.	Irving Resources Inc.	N/A	–
–	IVSInventus Mining Corp.	Inventus Mining Corp.	N/A	–
–	JAYBlue Jay Gold Corp.	Blue Jay Gold Corp.	N/A	–
–	JGJapan Gold Corp.	Japan Gold Corp.	N/A	–
–	JNCCFMetalite Resources Inc.	Metalite Resources Inc.	N/A	–
–	JSHGJOSHUA GOLD RESOURCES	JOSHUA GOLD RESOURCES	N/A	–
–	JTWOFJ2 METALS INC	J2 METALS INC	N/A	–
–	JZRIFJZR Gold Inc.	JZR Gold Inc.	N/A	–
–	KENYFMAKENITA RES INC	MAKENITA RES INC	N/A	–
–	KGKlondike Gold Corp.	Klondike Gold Corp.	N/A	–
–	KGFMFKingfisher Metals Corp.	Kingfisher Metals Corp.	N/A	–
–	KIBGFKIBOKO GOLD INC	KIBOKO GOLD INC	N/A	–
–	KIROKairos Gold Inc.	Kairos Gold Inc.	N/A	–
–	KLDCKirkland Lake Discoveries Corp.	Kirkland Lake Discoveries Corp.	N/A	–
–	KLGDFKalo Gold Corp.	Kalo Gold Corp.	N/A	–
–	KNGRFKingsmen Resources Ltd	Kingsmen Resources Ltd	N/A	–
–	KOGKO Gold Inc.	KO Gold Inc.	N/A	–
–	KPGLFKAPA Gold Inc.	KAPA Gold Inc.	N/A	–
–	KRIKobo Resources Inc.	Kobo Resources Inc.	N/A	–
–	KTNKootenay Silver Inc.	Kootenay Silver Inc.	N/A	–
–	KTRIFKootenay Resources Inc.	Kootenay Resources Inc.	N/A	–
–	KUYAFKuya Silver Corporation	Kuya Silver Corporation	N/A	–
–	KVLQFValOre Metals Corp.	ValOre Metals Corp.	N/A	–
–	LABLabrador Gold Corp.	Labrador Gold Corp.	N/A	–
–	LAMLaramide Resources Ltd.	Laramide Resources Ltd.	N/A	–
–	LCGMFLion Copper and Gold Corp.	Lion Copper and Gold Corp.	N/A	–
–	LEGYLegacy Gold Mines Ltd.	Legacy Gold Mines Ltd.	N/A	–
–	LGCFFLavras Gold Corp.	Lavras Gold Corp.	N/A	–
–	LGCXFLahontan Gold Corp.	Lahontan Gold Corp.	N/A	–
–	LINIFLindian Resources Limited	Lindian Resources Limited	N/A	–
–	LIOLion One Metals Limited	Lion One Metals Limited	N/A	–
–	LITOFFrontier Lithium Inc.	Frontier Lithium Inc.	N/A	–
–	LMELaurion Mineral Exploration Inc.	Laurion Mineral Exploration Inc.	N/A	–
–	LODLode Gold Resources Inc.	Lode Gold Resources Inc.	N/A	–
–	LOTTomaGold Corporation	TomaGold Corporation	N/A	–
–	LPKLupaka Gold Corp.	Lupaka Gold Corp.	N/A	–
–	LRAXFLara Exploration Ltd.	Lara Exploration Ltd.	N/A	–
–	LSTRLodestar Metals Corp.	Lodestar Metals Corp.	N/A	–
–	LUCALuca Mining Corp.	Luca Mining Corp.	N/A	–
–	LUXNewlox Gold Ventures Corp.	Newlox Gold Ventures Corp.	N/A	–
–	LVGLake Victoria Gold Ltd.	Lake Victoria Gold Ltd.	N/A	–
–	LVXFFLeviathan Metals Corp.	Leviathan Metals Corp.	N/A	–
–	LXELatin Explore Inc.	Latin Explore Inc.	N/A	–
–	MACKMackay Gold & Silver Corp.	Mackay Gold & Silver Corp.	N/A	–
–	MAIMining Americas Inc.	Mining Americas Inc.	N/A	–
–	MAKOMako Mining Corp	Mako Mining Corp	N/A	–
–	MAXXFMax Power Mining Corp.	Max Power Mining Corp.	N/A	–
–	MCCHMcChip Resources Inc.	McChip Resources Inc.	N/A	–
–	MCIMinnova Corp.	Minnova Corp.	N/A	–
–	MDNGFMidnight Sun Mining Corp.	Midnight Sun Mining Corp.	N/A	–
–	MEKMetals Creek Resources Corp.	Metals Creek Resources Corp.	N/A	–
–	MGMAMagma Silver Corp.	Magma Silver Corp.	N/A	–
–	MIDLFMidland Exploration Inc.	Midland Exploration Inc.	N/A	–
–	MJSMajestic Gold Corp.	Majestic Gold Corp.	N/A	–
–	MLMMcFarlane Lake Mining Limited	McFarlane Lake Mining Limited	N/A	–
–	MMETFMiata Metals Corp.	Miata Metals Corp.	N/A	–
–	MMMMinco Capital Corp.	Minco Capital Corp.	N/A	–
–	MMYMonument Mining Limited	Monument Mining Limited	N/A	–
–	MRZLFMirasol Resources Ltd.	Mirasol Resources Ltd.	N/A	–
–	MSCMillennium Silver Corp.	Millennium Silver Corp.	N/A	–
–	MSMMetalsource Mining Inc.	Metalsource Mining Inc.	N/A	–
–	MSVMinco Silver Corporation	Minco Silver Corporation	N/A	–
–	MTHMammoth Resources Corp.	Mammoth Resources Corp.	N/A	–
–	MTTMagna Terra Minerals Inc.	Magna Terra Minerals Inc.	N/A	–
–	MUNMundoro Capital Inc.	Mundoro Capital Inc.	N/A	–
–	MURMFMurchison Minerals Ltd.	Murchison Minerals Ltd.	N/A	–
–	NAMNew Age Metals Inc.	New Age Metals Inc.	N/A	–
–	NAMMNamib Minerals Ordinary Shares	Namib Minerals Ordinary Shares	N/A	–
–	NATNNation Gold Corp.	Nation Gold Corp.	N/A	–
–	NAUNevgold Corp.	Nevgold Corp.	N/A	–
–	NBLCNobel Resources Corp.	Nobel Resources Corp.	N/A	–
–	NBRKNew Break Resources Ltd.	New Break Resources Ltd.	N/A	–
–	NCAUFNewcore Gold Ltd.	Newcore Gold Ltd.	N/A	–
–	NIOCFNio Strategic Metals Inc.	Nio Strategic Metals Inc.	N/A	–
–	NLRNorthern Lights Resources Corp.	Northern Lights Resources Corp.	N/A	–
–	NOVAEraNova Metals Inc.	EraNova Metals Inc.	N/A	–
–	NRNNorthern Shield Resources Inc.	Northern Shield Resources Inc.	N/A	–
–	NRVTFNoram Lithium Corp.	Noram Lithium Corp.	N/A	–
–	NRYCFNations Royalty Corp.	Nations Royalty Corp.	N/A	–
–	NSGCFNorthstar Gold Corp.	Northstar Gold Corp.	N/A	–
–	NSRPFNovo Resources Corp.	Novo Resources Corp.	N/A	–
–	NTHNord Precious Metals Mining Inc.	Nord Precious Metals Mining Inc.	N/A	–
–	NTMFFNeotech Metals Corp.	Neotech Metals Corp.	N/A	–
–	NVANova Minerals Corp	Nova Minerals Corp	N/A	–
–	NWPGNEWPORT GOLD INC	NEWPORT GOLD INC	N/A	–
–	NWSTNorthWest Copper Corp.	NorthWest Copper Corp.	N/A	–
–	NZAUFRua Gold Inc.	Rua Gold Inc.	N/A	–
–	OCOlive Resource Capital Inc.	Olive Resource Capital Inc.	N/A	–
–	OCIOrecap Invest Corp.	Orecap Invest Corp.	N/A	–
–	OGGOsisko Gold Group Inc.	Osisko Gold Group Inc.	N/A	–
–	OMIOrosur Mining Inc.	Orosur Mining Inc.	N/A	–
–	ONVEFSeva Mining Corp.	Seva Mining Corp.	N/A	–
–	ONYXOnyx Gold Corp.	Onyx Gold Corp.	N/A	–
–	OPHRFOphir Metals Corp.	Ophir Metals Corp.	N/A	–
–	OREOrezone Gold Corporation	Orezone Gold Corporation	N/A	–
–	ORSOrestone Mining Corp.	Orestone Mining Corp.	N/A	–
–	ORVOrvana Minerals Corp.	Orvana Minerals Corp.	N/A	–
–	OSCIOSCEOLA GOLD INC	OSCEOLA GOLD INC	N/A	–
–	OTMCFOreterra Metals Corp.	Oreterra Metals Corp.	N/A	–
–	OZValkea Resources Corp	Valkea Resources Corp	N/A	–
–	PANXFPTX Metals Inc.	PTX Metals Inc.	N/A	–
–	PAUProvenance Gold Corp.	Provenance Gold Corp.	N/A	–
–	PCAPhoenix Metals Corp.	Phoenix Metals Corp.	N/A	–
–	PDIYFPredictive Discovery Ltd.	Predictive Discovery Ltd.	N/A	–
–	PERPeruvian Metals Corp.	Peruvian Metals Corp.	N/A	–
–	PGDCPatagonia Gold Corp.	Patagonia Gold Corp.	N/A	–
–	PGXProsper Gold Corp.	Prosper Gold Corp.	N/A	–
–	PHNMFPhenom Resources Corp.	Phenom Resources Corp.	N/A	–
–	PINNPinnacle Silver and Gold Corp.	Pinnacle Silver and Gold Corp.	N/A	–
–	PLLMFEdge Copper Corporation	Edge Copper Corporation	N/A	–
–	PLLRForty Pillars Mining Corp.	Forty Pillars Mining Corp.	N/A	–
–	PMETPMET Resources Inc.	PMET Resources Inc.	N/A	–
–	PMIXFPerseverance Metals Inc.	Perseverance Metals Inc.	N/A	–
–	PNTRFPantera Silver Corp.	Pantera Silver Corp.	N/A	–
–	PONYSilver Pony Resources Corp	Silver Pony Resources Corp	N/A	–
–	PPPProspector Metals Corp.	Prospector Metals Corp.	N/A	–
–	PPXPPX Mining Corp.	PPX Mining Corp.	N/A	–
–	PPZRFSEASIF EXPLORATION INC	SEASIF EXPLORATION INC	N/A	–
–	PREKFPrairieSky Royalty Ltd.	PrairieSky Royalty Ltd.	N/A	–
–	PRGPrecipitate Gold Corp.	Precipitate Gold Corp.	N/A	–
–	PRRProspect Ridge Resources Corp.	Prospect Ridge Resources Corp.	N/A	–
–	PUMXFPuma Exploration Inc.	Puma Exploration Inc.	N/A	–
–	PUROPlatauro Metals Corp.	Platauro Metals Corp.	N/A	–
–	PWROPower One Resources Corp.	Power One Resources Corp.	N/A	–
–	PXPelangio Exploration Inc.	Pelangio Exploration Inc.	N/A	–
–	PZGParamount Gold Nevada Corp.	Paramount Gold Nevada Corp.	N/A	–
–	QCCUFXXIX Metal Corp.	XXIX Metal Corp.	N/A	–
–	QGRQ-Gold Resources Ltd.	Q-Gold Resources Ltd.	N/A	–
–	QIMGFQUIMBAYA GOLD INC	QUIMBAYA GOLD INC	N/A	–
–	RAINRain City Resources Inc.	Rain City Resources Inc.	N/A	–
–	RBZArya Resources Ltd.	Arya Resources Ltd.	N/A	–
–	RCGCFRoscan Gold Corporation	Roscan Gold Corporation	N/A	–
–	RDGMFRidgeline Minerals Corp.	Ridgeline Minerals Corp.	N/A	–
–	RDURadius Gold Inc.	Radius Gold Inc.	N/A	–
–	REDLFVault Minerals Limited	Vault Minerals Limited	N/A	–
–	REVXRev Exploration Corp.	Rev Exploration Corp.	N/A	–
–	RFRRenforth Resources Inc.	Renforth Resources Inc.	N/A	–
–	RGRRIO GRANDE RESOURCES LTD	RIO GRANDE RESOURCES LTD	N/A	–
–	RGRNFRegis Resources Limited	Regis Resources Limited	N/A	–
–	RKMSFRokmaster Resources Corp.	Rokmaster Resources Corp.	N/A	–
–	RMESFRed Metal Resources Ltd.	Red Metal Resources Ltd.	N/A	–
–	RMETFRackla Metals Inc.	Rackla Metals Inc.	N/A	–
–	RMLFFRusoro Mining Ltd.	Rusoro Mining Ltd.	N/A	–
–	RMRKRIMROCK GOLD CORP	RIMROCK GOLD CORP	N/A	–
–	ROARLion Rock Resources Inc.	Lion Rock Resources Inc.	N/A	–
–	ROCKTrident Resources Corp.	Trident Resources Corp.	N/A	–
–	RPXRPX Gold Inc.	RPX Gold Inc.	N/A	–
–	RRIRiverside Resources Inc.	Riverside Resources Inc.	N/A	–
–	RSGRocky Shore Gold Ltd.	Rocky Shore Gold Ltd.	N/A	–
–	RTGRTG Mining Inc.	RTG Mining Inc.	N/A	–
–	RUSHCarolina Rush Corporation	Carolina Rush Corporation	N/A	–
–	RYESRise Gold Corp.	Rise Gold Corp.	N/A	–
–	RYORio Silver Inc.	Rio Silver Inc.	N/A	–
–	RYRRoyal Road Minerals Limited	Royal Road Minerals Limited	N/A	–
–	SAESable Resources Ltd.	Sable Resources Ltd.	N/A	–
–	SAMStarcore International Mines Ltd.	Starcore International Mines Ltd.	N/A	–
–	SASQSasquatch Resources Corp.	Sasquatch Resources Corp.	N/A	–
–	SBMCFSilver Bullet Mines Corp.	Silver Bullet Mines Corp.	N/A	–
–	SBMTSilver Bow Mining Corp.	Silver Bow Mining Corp.	N/A	–
–	SEASDeep Sea Minerals Corp.	Deep Sea Minerals Corp.	N/A	–
–	SGCSolstice Gold Corp.	Solstice Gold Corp.	N/A	–
–	SGZSego Resources Inc.	Sego Resources Inc.	N/A	–
–	SHOWShowcase Minerals Inc.	Showcase Minerals Inc.	N/A	–
–	SICOFSilverco Mining Ltd.	Silverco Mining Ltd.	N/A	–
–	SILEFSilver Elephant Mining Corp.	Silver Elephant Mining Corp.	N/A	–
–	SIREFSirios Resources Inc.	Sirios Resources Inc.	N/A	–
–	SLGSan Lorenzo Gold Corp.	San Lorenzo Gold Corp.	N/A	–
–	SMOFFSonoro Gold Corp.	Sonoro Gold Corp.	N/A	–
–	SNGCFSanu Gold Corp.	Sanu Gold Corp.	N/A	–
–	SOMASoma Gold Corp.	Soma Gold Corp.	N/A	–
–	SPASpanish Mountain Gold Ltd.	Spanish Mountain Gold Ltd.	N/A	–
–	SPMCSouth Pacific Metals Corp.	South Pacific Metals Corp.	N/A	–
–	SRANFSranan Gold Corp.	Sranan Gold Corp.	N/A	–
–	SRKZFSky Gold Corp.	Sky Gold Corp.	N/A	–
–	SRSSorrento Resources Ltd.	Sorrento Resources Ltd.	N/A	–
–	STALSTAR ALLIANCE INTL CORP	STAR ALLIANCE INTL CORP	N/A	–
–	STGOSteppe Gold Ltd.	Steppe Gold Ltd.	N/A	–
–	STKXFStrikePoint Gold Inc.	StrikePoint Gold Inc.	N/A	–
–	STLRSTLLR Gold Inc.	STLLR Gold Inc.	N/A	–
–	STNGStinger Resources Inc.	Stinger Resources Inc.	N/A	–
–	STUVFStuve Gold Corp.	Stuve Gold Corp.	N/A	–
–	SUNPFSun Peak Metals Corp.	Sun Peak Metals Corp.	N/A	–
–	SUPCFSuper Copper Corp.	Super Copper Corp.	N/A	–
–	SVESilver One Resources Inc.	Silver One Resources Inc.	N/A	–
–	SVMLFSovereign Metals Ltd	Sovereign Metals Ltd	N/A	–
–	SWASarama Resources Ltd	Sarama Resources Ltd	N/A	–
–	SWLFSilver Wolf Exploration Ltd.	Silver Wolf Exploration Ltd.	N/A	–
–	SXTYSixty North Gold Mining Ltd.	Sixty North Gold Mining Ltd.	N/A	–
–	SYGSylla Gold Corp.	Sylla Gold Corp.	N/A	–
–	TALMFTalamore Mining Corp.	Talamore Mining Corp.	N/A	–
–	TBKTrailbreaker Resources Ltd.	Trailbreaker Resources Ltd.	N/A	–
–	TDGGFTDG GOLD CORP.	TDG GOLD CORP.	N/A	–
–	TGTrifecta Gold Ltd.	Trifecta Gold Ltd.	N/A	–
–	TGBTrekor Metals Limited	Trekor Metals Limited	N/A	–
–	TGOLThunder Gold Corp.	Thunder Gold Corp.	N/A	–
–	TGRGFTiger Gold Corp.	Tiger Gold Corp.	N/A	–
–	THXThor Explorations Ltd.	Thor Explorations Ltd.	N/A	–
–	TIGTriumph Gold Corp.	Triumph Gold Corp.	N/A	–
–	TITITITIMINAS SILVER INC	TITIMINAS SILVER INC	N/A	–
–	TKTinka Resources Limited	Tinka Resources Limited	N/A	–
–	TMQTrilogy Metals Inc.	Trilogy Metals Inc.	N/A	–
–	TNO-HTerreno Resources Corp.	Terreno Resources Corp.	N/A	–
–	TRGEFTarga Exploration Corp.	Targa Exploration Corp.	N/A	–
–	TRRTerra Rossa Gold Ltd.	Terra Rossa Gold Ltd.	N/A	–
–	TRRXFTNR Gold Corp.	TNR Gold Corp.	N/A	–
–	TRUIFTRU Precious Metals Corp.	TRU Precious Metals Corp.	N/A	–
–	TSGTriStar Gold, Inc.	TriStar Gold, Inc.	N/A	–
–	TSLVFTier One Silver Inc.	Tier One Silver Inc.	N/A	–
–	TTTOTAL METALS CORP	TOTAL METALS CORP	N/A	–
–	TTEXFBullion Gold Discoveries Corp.	Bullion Gold Discoveries Corp.	N/A	–
–	TWRTower Resources Ltd.	Tower Resources Ltd.	N/A	–
–	UGDUnigold Inc.	Unigold Inc.	N/A	–
–	UPPRUnion Power Metals Corporation	Union Power Metals Corporation	N/A	–
–	USGDFAmerican Pacific Mining Corp.	American Pacific Mining Corp.	N/A	–
–	USGOU.S. GoldMining Inc. Common stock	U.S. GoldMining Inc. Common stock	N/A	–
–	USHAUsha Resources Ltd.	Usha Resources Ltd.	N/A	–
–	VGDVisible Gold Mines Inc.	Visible Gold Mines Inc.	N/A	–
–	VIOVior Gold Corporation Inc.	Vior Gold Corporation Inc.	N/A	–
–	VIPRFSilver Viper Minerals Corp.	Silver Viper Minerals Corp.	N/A	–
–	VIRMFVIRIDIAN METALS INC	VIRIDIAN METALS INC	N/A	–
–	VIZVisionary Metals Corp.	Visionary Metals Corp.	N/A	–
–	VLGDFValor Gold Corp.	Valor Gold Corp.	N/A	–
–	VMETVersamet Royalties Corporation	Versamet Royalties Corporation	N/A	–
–	VMLViscount Mining Corp.	Viscount Mining Corp.	N/A	–
–	VTXGFVertex Resource Group Ltd.	Vertex Resource Group Ltd.	N/A	–
–	VZZVal-d'Or Mining Corporation	Val-d'Or Mining Corporation	N/A	–
–	WSpartan Metals Corp.	Spartan Metals Corp.	N/A	–
–	WAMAlaska Silver Corp.	Alaska Silver Corp.	N/A	–
–	WDOFFWesdome Gold Mines Ltd.	Wesdome Gold Mines Ltd.	N/A	–
–	WEXWestern Exploration Inc.	Western Exploration Inc.	N/A	–
–	WGLIFWestward Gold Inc.	Westward Gold Inc.	N/A	–
–	WMWallbridge Mining Company Limited	Wallbridge Mining Company Limited	N/A	–
–	WPGWest Point Gold Corp.	West Point Gold Corp.	N/A	–
–	WRRWalker River Resources Corp.	Walker River Resources Corp.	N/A	–
–	WSRWestern Star Resources Inc.	Western Star Resources Inc.	N/A	–
–	WTHVFWesthaven Gold Corp.	Westhaven Gold Corp.	N/A	–
–	XTMTransition Metals Corp.	Transition Metals Corp.	N/A	–
–	XTRRFComet Lithium Corporation	Comet Lithium Corporation	N/A	–
–	YARRFPirate Gold Corp.	Pirate Gold Corp.	N/A	–
–	YGTGold Terra Resource Corp.	Gold Terra Resource Corp.	N/A	–
–	YMCYukon Metals Corp.	Yukon Metals Corp.	N/A	–
–	YRBYorbeau Resources Inc.	Yorbeau Resources Inc.	N/A	–
–	ZACZacatecas Silver Corp.	Zacatecas Silver Corp.	N/A	–
–	ZAUIFZodiac Gold Inc.	Zodiac Gold Inc.	N/A	–
–	ZNXZincX Resources Corp.	ZincX Resources Corp.	N/A	–

Sorted by beta, highest first. Click a row to open the stock page.

What is gold beta?

Gold beta is a single number that describes how tightly a stock rides the price of gold, and how hard.

A beta of 1.0 means the stock has historically moved roughly in step with gold: gold up 1 percent, stock up about 1 percent. A beta of 2.0 means the stock moved about twice as much in the same direction, up and down. A beta below 1 means the stock moved less than gold. A negative beta means it tended to move the opposite way.

The important word is amplification. High beta is not “better.” It is torque. It rewards you harder when gold rallies and punishes you harder when gold falls. Beta describes the size of the swing, not its direction and not the quality of the company.

        Cov(r_stock, r_gold)
beta =  --------------------
           Var(r_gold)

r_stock, the stock's daily return
r_gold, gold's daily return (measured via GLD)
Cov / Var, how the two move together, scaled by how much gold itself moves

The interpretation scale

Illustrative example

β < 0
Moves opposite
Rose when gold fell and vice versa. Rare for miners.
0 to 1
Moves less than gold
Dampened exposure. Often royalty or diversified names.
≈ 1
Moves with gold
Roughly one-for-one with the metal.
1 to 2
Moves more than gold
Typical producer torque.
2+
Moves far more
Big swings both ways. Thin margins or high leverage.

Beta is magnitude: a higher number means bigger swings in both directions.

Why miners amplify gold: operating leverage

A miner's costs are largely fixed in the short run. It costs about the same to pull an ounce out of the ground whether gold sells for $4,000 or $4,400. So when the gold price moves, almost the entire move lands on the profit margin. The margin swings by a larger percentage than the metal. That amplification is called operating leverage.

Base gold price: $4,000/ozAISC (fixed): $1,700/ozAnnual production: 500,000 ozChange scenarios: -10% / Base / +10%

How profits amplify

Change in gold price vs. change in profit

GOLD -10%

$3,600 /oz

Profit / oz: $1,900
Change in profit: -17.4%
Annual profit: $950M

BASE CASE

$4,000 /oz

Profit / oz: $2,300
Change in profit: -
Annual profit: $1,150M

GOLD +10%

$4,400 /oz

Profit / oz: $2,700
Change in profit: +17.4%
Annual profit: $1,350M

Profit per ounce vs. gold price

Profit per ozAISC (fixed cost)

Every $1,000/oz move in gold changes profit by $1,000/oz.

17.4% change in profit for ~10% change in gold.

Note: Illustrative only. Assumes AISC remains constant and production is 500,000 oz annually.

Scenario summary

Scenario	Gold price ($/oz)	AISC (fixed) ($/oz)	Profit per oz ($/oz)	Change in profit	Annual profit (500k oz)
Gold -10%	$3,600	$1,700	$1,900	-17.4%	$950M
Base case	$4,000	$1,700	$2,300	-	$1,150M
Gold +10%	$4,400	$1,700	$2,700	+17.4%	$1,350M

How GoldSignal calculates it

Data
Split- and dividend-adjusted daily closes over the trailing 252 trading sessions, about one year of market days.
Benchmark
GLD for gold-focused names, SLV for the names whose primary revenue is silver. Benchmark assignment is an explicit, human-maintained list, not a keyword guess, and it is stored on the ticker rather than re-inferred on every page load.
Model
An ordinary least squares (OLS) regression of the stock's daily returns on the benchmark's daily returns. The slope of the best-fit line is the beta. The intercept is not used for this signal.
Cleaning
Stock and benchmark returns are inner-joined on trading date; a date missing from either side is dropped, never zero-filled. Days with zero or missing stock volume, or a 0.0 stock return while the benchmark moved (a stale price), are dropped. Single-day moves beyond 400 percent are treated as unadjusted-split or bad-tick data and dropped; smaller large moves are kept.
Reliability
R-squared measures how much of the stock's daily movement the benchmark actually explains, on a 0 to 1 scale. Below 0.10, or with too little clean history or too many dropped days, the beta is not published at all: it shows as insufficient signal with a reason rather than a misleading number. Between 0.10 and 0.20 it publishes but is flagged low confidence.

Illustrative example

High R-squared: gold explains most of the movement.

Low R-squared: company-specific factors dominate.

Same slope (same beta) can come with very different reliability. R-squared is how much you should trust the line.

Typical profiles by company type

Producers
Highest torque. Margins are directly levered to gold, so beta commonly sits above 1. Higher-cost producers carry thinner margins and even more torque.
Royalty and streaming
Lower beta. They own contractual rights to production or revenue across many mines, so cash flow is diversified and less exposed to any single operation's costs.
Developers and explorers
Often low R-squared. The share price is driven by drill results, permits, resource estimates, and financing, so gold explains little of the day-to-day move even when beta looks large or jumpy.

What beta does not tell you

Historical, not predictive
It measures the past year. The future can differ.
Single factor
It sees only gold. It ignores currency, jurisdiction risk, management, and the balance sheet.
It drifts
Beta changes as mines get built, costs move, and hedges roll on and off.
Noise in thin names
Low-liquidity stocks produce jumpy, less reliable estimates.
Hedging hides torque
Producers that hedge gold forward will show suppressed beta by design.

FAQ

No. Beta is amplification, not quality. A high beta means bigger moves in both directions. It rewards you more when gold rises and hurts you more when gold falls. It says nothing about whether a company is well run.

Glossary

Gold beta is a historical, descriptive statistic computed from public daily price data over 252 sessions vs GLD. Methodology.

	Last	Chg	%
Gold	4,468.40	+85.40	+1.95%
Silver	65.47	+0.70	+1.08%
GDX	90.96	+0.97	+1.08%
GDXJ	119.49	+1.23	+1.04%
USD Index	99.97	+0.15	+0.15%
10Y Yield	4.68	-0.00	-0.04%