The 2022 year was a mixed one for ASX 200 gold shares, but three shares were standout performers.
The Capricorn Metals Ltd (ASX: CMM), Perseus Mining Limited (ASX: PRU) and Northern Star Resources Ltd (ASX: NST) share prices all soared in 2022. In this piece, we are looking at three shares with a market capitalisation of more than $100 million that are part of the S&P/ASX 200 Index (ASX: XJO).
Let's take a look at these three ASX 200 gold shares in more detail.
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Capricorn Metals
Capricorn Metals shares soared by 35.3% in 2022. The company is developing the Karlawinda Gold Project and the Mount Gibson Gold Project in Western Australia.
Capricorn Metals shares exploded by 78% between market close on 26 September and 30 December. Gold futures rose 12% from US$1633.40 an ounce at market close on 26 September to US$1830.10 on 30 December, CNBC data shows.
In late October, Capricorn advised ore reserves at the Karlawinda project had lifted 12% to 1.34 million ounces. Capricorn shares leapt nearly 5% on this day. Meanwhile, on 7 November Capricorn announced the Mineral Resource Estimate at the Mt Gibson project had soared by 32% from 2,755,000 ounces. Capricorn shares soared 10% on this day alone.
Commenting on this news, executive chairman Mark Clark said:
Our exploration team has made a strong start to FY23, advancing some exciting early-stage prospects across our global tier-1 portfolio as well as expanding beyond known areas of mineralisation.
Perseus Mining
The Perseus share price surged by 30.2% in 2022. Perseus operates three gold mines in Africa. Perseus shares had a bumper end to the year, soaring 57% between market close on 26 September and 30 December amid higher gold prices.
In October, Perseus advised of a maiden ore reserve of 2.2 Mt 3.58 grams per tonne for 259koz at the Yaouré Gold Mine in Côte d'Ivoire. Commenting on the news, Perseus managing director and CEO Jeff Quartermaine said:
Having attained the goal of producing gold at a rate of 500,000oz per year across our three gold mines, we are now working to maintain, and where possible, exceed that level of production over the next decade and beyond.
Northern Star
Northern Star shares leapt by 15.9% in 2022. The company has a market capitalisation of nearly $13 billion. Northern Star outperformed ASX gold giant Newcrest, which fell 15% during the calendar year.
Like Perseus and Capricorn, Northern Star shares soared nearly 57% between market close on 26 September and 30 December. The higher gold price likely helped Northern Star recover losses in the first nine months of the year.
On 15 November, Northern Star provided an exploration update. The company advised of progress on its FY23 exploration program. Managing director Stuart Tonkin said:
Our exploration team has made a strong start to FY23, advancing some exciting early-stage prospects across our global tier-1 portfolio as well as expanding beyond known areas of mineralisation.
