However, since the commodity price peaked in late January, it has declined significantly. 

Along with it, many ASX gold shares have dropped too. 

According to VanEck, this kind of movement is typical of similar geopolitical events. 

Gold's March performance surprised many investors. Despite a sharp escalation in geopolitical tensions, gold prices pulled back after briefly retesting record highs. That kind of price action may seem counterintuitive, but it is not unusual in periods of crisis.

VanEck reinforced that gold and gold equities have come under pressure, but once the current period of volatility subsides, the same drivers that supported gold above US$5,000 remain in place.

With that in mind, here are three ASX gold shares generating positive outlooks from experts. 

Brightstar Resources Ltd (ASX: BTR)

Brightstar Resources is a gold development company. It is currently working on bringing its Sandstone and Goldfields projects in Western Australia into production. 

Recently, the team at Canaccord Genuity placed a $2.40 price target on this ASX gold stock. 

Analysts said its recent capital raise means the company should be "comfortably funded" through to first gold production.

From yesterday's closing price of $0.41, this price target indicates a big upside potential of more than 480%. 

Saturn Metals Ltd (ASX: STN)

This ASX gold stock is primarily focused on its 100% owned Apollo Hill Gold Project, located in Western Australia.

The stock price has doubled over the last 12 months. 

It is also drawing a positive outlook from Canaccord Genuity, driven by three shifts:

• Decades of management experience reduces risk
• WA offers ideal conditions
• Modern workflows assess heap leach viability earlier and more accurately

Subsequently, the broker has a speculative buy rating and a price target of $1 a share.

From yesterday's closing price of $0.56, this indicates a potential further gain of 78%. 

Evolution Mining Ltd (ASX: EVN)

Evolution Mining is another ASX gold stock with upside, this time, according to the team at Bell Potter. 

It is one of Australia's largest listed gold miners. The company engages in exploration, development, and production activities in both Australia and Canada.

The team at Bell Potter recently retained its buy rating on the ASX 200 gold stock with a price target of $16.45, following the company's quarterly report.

From yesterday's closing price of $14.45, this indicates a healthy 14% upside.

The broker is also forecasting an attractive 3.5% dividend yield over the period.

The post 3 ASX gold shares to buy after the recent pullback appeared first on The Motley Fool Australia.

The promising gold miner in question is Saturn Metals Ltd (ASX: STN), which is primarily focused on its 100% owned Apollo Hill Gold Project, located in Western Australia.

Saturn Metals shares have already delivered some smashing gains to stockholders over the past year.

Indeed, 12 months ago, you could have bought the ASX All Ords gold stock for 28.5 cents a share. On Tuesday, shares closed up 3.7% to end the day trading for 56.0 cents apiece. This sees the Saturn Metals share price up 96.5% over the past 12 months, smashing the 15.1% one-year gains posted by the benchmark index.

And according to the analysts at Canaccord Genuity, Saturn Metals shares could have a lot further to run yet.

Here's why.

Should you buy this ASX All Ords gold stock today?

Canaccord noted that Apollo Hill hosts a resource of 2.24 million ounces at 0.51 grams of gold per tonne (2.24Moz @ 0.51g/t Au), with the project being assessed as a potential, large open pit heap leach operation.

Canaccord said that since Saturn Metals listed in 2018, the ASX All Ords gold stock has "scaled and de-risked Apollo Hill through drilling, metallurgy and staged studies".

These have helped the miner define a bulk-tonnage, low-strip, single open pit enabled by heap leach, which Canaccord said is key differentiator among Australian developers.

The broker said that after falling out of favour around 2018, heap leaching is re-emerging in Australia as a "disciplined, mainstream development pathway rather than a low-cost fallback".

Canaccord said this return is being driven by three key shifts. According to the broker:

Decades of global operating experience have de-risked design, agglomeration, stacking and monitoring; WA offers ideal conditions with low seismicity, flat terrain, arid climate, strong regulation and deep technical capability; and modern workflows assess heap leach viability early, using detailed mineralogy, large-scale column testwork and improved geosynthetics to define realistic recoveries and performance.

Commenting on how this could help Saturn Metals' returns, Canaccord added:

This proven, predictable positioning of heap leach as a tool to be selectively applied where ore characteristics and jurisdictional conditions are amenable align with the development route being advanced at Apollo Hill.

Connecting the dots, on 31 March the broker initiated coverage of the ASX All Ords gold stock with a speculative buy rating and a price target of $1.00 a share. That represents a potential upside of 78.6% from Saturn Metals' closing price on Tuesday.

Saturn Metal shares have gained 36.6% since market close on 30 March, spurred by new high-grade gold results from ongoing drilling at Apollo Hill.

The post Why this surging ASX All Ords gold stock is tipped to rocket another 79% appeared first on The Motley Fool Australia.

So what's piqued their interest?

Derisking underway

Let's look at Saturn Metals' most recent ASX release for a start.

The company said on March 26 that it had appointed engineering and consulting firm Ausenco to conduct a definitive feasibility study (DFS) for its flagship Apollo Hill gold project in Western Australia.

The DFS will be based on a new mineral resource estimate, which the company said was due for completion in the second quarter of this calendar year.

The DFS would also refine the mining, metallurgy, and engineering designs included in Saturn's prefeasibility study, which it put out in December.

The DFS is scheduled for completion during the fourth quarter of this calendar year, the company said.

Saturn Managing Director Ian Bamborough said last weeK:

We are pleased to award the contract for the Apollo Hill DFS to a company of Ausenco's calibre and capability. Importantly, Ausenco has a strong track record of success in developing first-class heap leach projects across the globe, which will be a real asset for Saturn. A solid grounding in the Australian engineering and construction environment makes Ausenco an ideal business partner as we take the next important step in advancing the development of a large-scale, long-life gold project at Apollo Hill.

Shares looking cheap

Canaccord said in its research note to clients this week that since listing in 2018, Saturn had scaled and derisked the Apollo Hill project, "defining a bulk-tonnage, low-strip, single open pit enabled by heap leach, its key differentiator among Australian developers''.

Canaccord added:

Heap leaching is re-emerging in Australia as a disciplined, mainstream development pathway rather than a low-cost fallback, driven by three key shifts: decades of global operating experience have de-risked design, agglomeration, stacking and monitoring; WA offers ideal conditions with low seismicity, flat terrain, arid climate, strong regulation and deep technical capability; and modern workflows assess heap leach viability early, using detailed mineralogy, large-scale column test work and improved geosynthetics to define realistic recoveries and performance.

Canaccord has modelled a mine with a 14-year mine life, mining 10 million tonnes of ore per year, using the mineral resource estimate in the prefeasibility study.

They also note that the company is undertaking an aggressive drilling campaign both across the main deposit and more broadly.

Canaccord has a $1 price target on Saturn shares compared with 44 cents currently.

Saturn Metals is currently valued at $221.5 million.

The post This ASX gold explorer could more than double according to the team at Canaccord Genuity appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is down 5% to $2.14. This appears to have been driven by profit taking from investors after some exceptionally strong gains last month. For example, even after today's pullback, the medical technology company's shares are up almost 180% since this time last month. This outperformance has been driven largely by positive developments in the US market. This includes the U.S. Centers for Medicare & Medicaid Services (CMS) confirming the reimbursement for its CT:VQ product, accelerating the path to broad market adoption.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 13% to $4.96. This also appears to have been driven by profit taking. Like 4DMedical, DroneShield's shares have been on fire recently. Investors have been bidding its shares higher largely due to news that the European Union is looking to build a drone wall across its Eastern border. The market seems to believe that DroneShield is well-positioned to benefit from this plan.

Ramsay Health Care Ltd (ASX: RHC)

The Ramsay Health Care share price is down 3% to $31.57. This may have been caused by a broker note out of Morgan Stanley this morning. According to the note, the broker has downgraded the private hospital operator's shares to an underweight rating with a reduced price target of $31.30. It highlights that industry growth has slowed in Australia during the second half of the year.

Saturn Metals Ltd (ASX: STN)

The Saturn Metals share price is down 10% to 62.2 cents. This morning, this gold explorer revealed that it has received firm commitments for a $45 million share placement at 58 cents per new share. Saturn's managing director, Ian Bamborough, said: "Saturn is delighted and humbled by the exceptional support received from both our existing shareholders and new institutional investors as we continue to accelerate the Apollo Hill Project through development and towards production. This strong show of confidence and funding will enable the Company to take the next important steps along the development pathway, with the aim of unlocking, and maximising, the full value and potential of the Project and our broader exploration portfolio."

The post Why 4DMedical, DroneShield, Ramsay, and Saturn Metals shares are sinking today appeared first on The Motley Fool Australia.

It has just gone through an initial public offer (IPO) process to raise $6 million to provide funds to enact its business strategy. The offer price was $0.20 and it finished today at $0.52.

What is Killi Resources?

This company is a new gold and copper explorer in Australia.

It has key projects are located in the Tanami region of Western Australia and Charters Towers/Ravenswood region in Queensland.

The projects

The West Tanami Project covers a 1,600 square kilometre land holding. The tenements cover a 100km strike length of the "well-endowed" Tanami Fault System which has several mines already including: The Granites, Dead Bullock Soak, Buccaneer and Coyote. The company revealed that technical evaluations of the prospects provide similar analogous gold signatures to those gold mines along strike to the south-east.

The Balfour Project is a copper exploration project in WA covering 350 square kilometres of the Proterozoic Rift boundary of the Pilbara. Multiple base metals targets have been identified, and remain untested.

The Mt Rawdon West project is situated next to the Mt Rawdon Mine owned by Evolution Mining Limited (ASX: EVN).

Finally, the Ravenswood North project covers a large tenement package in Queensland, inland from Townsville, covering 590 square kilometres and is along the strike of the Ravenswood Mine.

Killi's operational plans

Killi says that the projects present large-scale exploration opportunities, located in low-risk jurisdictions with excellent access.

These projects are "relatively underexplored" and the ASX share is looking to use "world-class" exploration practices to realise value for stakeholders.

Killi boasts that its board has significant expertise and experience in the mining industry and will aim to ensure that funds raised will be used in a cost-effective way to advance the assets.

Leadership experience

Richard Bevan is the non-executive Chair of Killi. He has been involved in a number of business areas. He has been the managing director CEO and chair of several listed and unlisted companies.

Mr Bevan was the founding managing director of Cassini Resources, which was acquired by OZ Minerals Limited (ASX: OZL). He is currently the non-executive Chair of Nimy Resources Ltd (ASX: NYM), as well as the non-executive director of Cannon Resources Ltd (ASX: CNR).

Greg Miles is a non-executive director and has 25 years of experience in the exploration and delineation of mineral resources.

Killi Resources' CEO, Kathryn Cutler, is a geologist and has 15 years in the resource industry in Australia. For the past five years, Ms Cutler has held the position of exploration manager for two ASX gold miners – Saturn Metals Ltd (ASX: STN) and Aruma Resources Ltd (ASX: AAJ).

Killi Resources share price snapshot

After the explosive start to listed life, the undiluted market capitalisation of the business has increased from $10.4 million to $27 million.

The post Killi Resources (ASX:KLI) share price kills it on first day of trade, up 160% appeared first on The Motley Fool Australia.

Peel Mining is a western New South Wales mineral explorer. The company is focused on developing large-scale and high-grade base metal deposits in the Cobar Superbasin.

Peel Mining holds an approximate 27% shareholding in Saturn Metals Ltd (ASX: STN), a junior gold exploration company that has built a portfolio of assets in the Western Australian Goldfields region.

Peel Mining share price soars upon copper announcement

Prior to the Peel Mining share price shooting up, the company reported very strong copper mineralised intercepts at its 100% owned Wirlong deposit.

In today's announcement, Peel highlighted the mineralisation discovered is consistent with and supports the company's geophysical and geological modelling. The modelling involves the application of an electromagnetic conductor plate and a revised structural model.

Peel Mining managing director Rob Tyson commented:

These drillholes continue to demonstrate very high copper tenors, akin to those seen in previous drilling. The results highlight Peel's opinion of the potential of Wirlong as we push towards a maiden mineral resource and emphasise our desire to become Cobar's next copper-dominant base and precious metals mining Company.

A summary of Peel Mining's Wirlong project

The Wirlong Copper discovery is located approximately 70km south-southeast of Cobar. Mineralisation at Wirlong has been defined from near-surface to a depth of more than 600 metres below surface.

As mentioned by Tyson, the company has initiated efforts to establish a copper-rich maiden mineral resource at Wirlong. The resource definition program for this project consists of approximately 11,000 metres of drilling and is anticipated to be completed in the June quarter of 2021.

The next steps for the maiden resource are preliminary metallurgical testwork, ore sorting trials, along with resource modelling and estimation and a scoping study.

The Peel Mining share price has fallen 6.25% over the past six months. On current prices, the company has a market capitalisation of $80.3 million.

The post The Peel Mining (ASX:PEX) share price jumped double digits today appeared first on The Motley Fool Australia.