ASX mining shares have been the worst hit by the war in Iran, with the Metal & Mining Index falling 15.7% vs. a 7.3% drop for the ASX 300.

Mining shares have fallen as investors sell out on fears that diesel shortages and higher oil prices will impact earnings and production.

Perennial portfolio manager Sam Berridge told the Australian Financial Review (AFR):

Australia is uniquely sensitive to this because our fuel inventory is so low, and we import such a high proportion of refined products.

Operations in the US, Brazil and Canada are definitely not going to run out of diesel and won't have to curtail production … so we are seeing more opportunities overseas where there isn't the same level of diesel supply risk that Australian miners have.

Berridge, who runs Perennial's Strategic Natural Resources Trust, has sold the fund's ASX gold shareholdings but kept overseas stocks.

US and Iran are continuing negotiations to end the war, but no one knows how long this will take.

The longer the conflict drags on, leaving the Strait of Hormuz virtually non-operational, the more severe this oil supply shock will be.

While we watch and wait, here are the experts' recommendations on three ASX mining shares.

Turaco Gold Ltd (ASX: TCG)

The Turaco Gold share price is 61 cents, up 0.8% today and down 23% since the conflict in Iran began.

Morgans maintains a buy rating on the ASX gold mining share with a 12-month price target of $2.19.

This implies a potential 260% upside ahead.

The broker said:

TCG released an MRE upgrade for the Afema Gold Project lifting the resource base to 4.65Moz Au at 1.3g/t Au (up from 4Moz)– a beat on our forecasts of 4.5Moz Au at 1.1g/t Au.

Afema now ranks as one of the largest undeveloped gold resources on the ASX.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $150.35, up 0.3% today and down 10% since the war began.

This week, UBS reiterated its hold rating on the diversified ASX 200 mining share with a $160 target.

This implies a potential 6% upside from here.

Liontown Ltd (ASX: LTR)

The Liontown share price is $1.69, down 2.6% on Thursday and down 1.5% since the war began.

On The Bull this week, Tony Locantro from Alto Capital revealed a sell rating on this ASX lithium mining share.

Locantro explained:

With earnings still developing and the company transitioning through a capital intensive ramp-up phase, the risk-reward balance at current levels favours taking profits following the sector's recent re-rating.

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Ongoing conflict in the Middle East has weighed heavily on investor sentiment. 

Subsequently, the S&P/ASX 200 Index (ASX: XJO) slumped 1.7% last week, and is now down more than 7% over the last month. 

For investors looking towards greener pastures, recent notes out of the team at Morgans have highlighted two ASX shares that have significant upside. 

Here's what the broker had to say. 

Turaco Gold Ltd (ASX: TCG)

Turaco Gold engages in the acquisition, exploration and development of mineral interests, prospective for precious metals and other mineral deposits. It has ongoing exploration programs throughout the South Kyrgyz Gold project area with trenching, soil sampling and mapping undertaken on all of its prospects.

Like many ASX gold shares, it rose significantly in 2025. However, it has had a soft start to 2026, falling 20% year to date. 

It seems the tide could be turning back towards a positive outlook for the company. 

On Friday, Turaco Gold shares jumped an impressive 7% after the company announced rapid growth in its Afema Project. 

The company has upgraded the gold resource estimate at its Afema Project to 4.65 million ounces, up 15%, at a grade of 1.3 grams per tonne.

Following the announcement, the team at Morgans released updated guidance on the company. 

TCG released an MRE upgrade for the Afema Gold Project lifting the resource base to 4.65Moz Au at 1.3g/t Au (up from 4Moz)– a beat on our forecasts of 4.5Moz Au at 1.1g/t Au. Afema now ranks as one of the largest undeveloped gold resources on the ASX. We maintain our existing forecasts and reiterate our BUY rating, price target A$2.19ps.

From last week's closing price, this price target of $2.19 indicates an impressive upside of roughly 230%. 

Morgans isn't the only analyst tipping upside. 

Canaccord Genuity also has a positive outlook on Turaco Gold, along with a price target of $1.45. 

Advanced Innergy Holdings Ltd (ASX: AIH)

The company is a global leader in materials science technology for the protection of critical infrastructure. 

Morgans is optimistic about these ASX shares after it announced the completion of its acquisition of Imenco, although did note there are emerging headwinds.

We have incorporated the transaction into our forecasts, with the deal expected to be low-to-mid single digit EPS accretive. However, we use this update to also reflect forecast FX headwinds (GBP/AUD), which we expect to more than offset the accretion from the acquisition.

Our forecasts for the base business are unchanged excluding the impacts from FX, and we continue to assume constant FX in outer years. Overall, we reduce our EBITDA forecasts by 1% annually across FY26-28 and NPAT by 3-4% over the same period. Target price reduces modestly to $1.45.

Despite the decrease in target price, from last week's closing price of $0.78, the updated price target still indicates an upside of approximately 86%. 

The post 2 ASX shares Morgans thinks are worth gobbling up right now appeared first on The Motley Fool Australia.

Let's see what they like.

Gorilla Gold Mines Ltd (ASX: GG8)

This company just this week released results from step out drilling at its Mulwarrie project site, which the Canaccord team said were "highly encouraging".

The company itself said the first holes from the new drilling "highlight significant resource growth potential''.

Results included 3.4m at 9 grams per tonne of gold from a depth of 376.9m and 0.7m at 24.8 grams per tonne of gold at a depth of 110.3m.

Gorilla Chief Executive Officer Charles Hughes said regarding the results:

The Mulwarrie Project remains significantly under-explored, and these exciting step-out drilling results demonstrate the scale of the opportunity ahead of us. Intersecting high-grade gold more than 700 metres beyond the existing resource boundary highlights the potential to materially expand the Mulwarrie Mineral Resource through continued drilling in 2026.

The company currently has a mineral resource estimate of 350,000 ounces of gold at a grade of 3.6 grams per tonne.

The Canaccord team said the new results "position Mulwarrie as a rapidly emerging, district-scale gold system with strong potential for multi-million-ounce growth''.

They added:

Prior to today, our thoughts were that over time, Mulwarrie could grow to over 1.5 million ounces. We still maintain this and are excited by both the step-out drilling and also the earlier stage geochemistry work announced today.

Canaccord has a price target of $1 per share on Gorilla shares compared with the current price of 35 cents.

Turaco Gold Ltd (ASX: TCG)

This company has also had recent news, upgrading the gold resource estimate at its Afema Project to 4.65 million ounces, up 15%, at a grade of 1.3 grams per tonne.

Canaccord said this represents a sustained growth rate of about 100,000 ounces per month.

They added:

Since the maiden resource about 18 months ago, Afema has grown by more than two million ounces, underscoring its emergence as a rapidly scaling West African gold system that sits among the largest and most advanced West African deposits on the ASX.

The Canaccord team noted that "several mineralised trends" did not make it into the new resource update, "providing clear upside ahead of further updates planned in 2026''.

Canaccord has a price target of $1.45 on Turaco shares compared with 61.5 cents currently.

The post Two ASX gold companies which could more than double in value, according to Canaccord Genuity appeared first on The Motley Fool Australia.

So far this year, ASX mining shares have continued to outperform after an exceptionally strong run in 2025.

The Metal & Mining Index is up 11.8% in the year to date (YTD) while the broader S&P/ASX 300 Index (ASX: XKO) is up 3.8%.

Here are three ASX mining shares that the experts think will more than double in value over the next 12 months.

Sun Silver Ltd (ASX: SS1)

This ASX silver mining share closed at $1.87 yesterday, up 0.8%.

Sun Silver shares have fallen 1.8% in the YTD and rocketed 159% over the past 12 months.

Sun Silver owns the Maverick Springs Silver-Gold Project in Nevada, US, which is the ASX's largest pre-production primary silver project.

Canaccord Genuity has a buy rating with a 12-month price target of $4.15, suggesting a potential upside of 122%.

However, East Coast Research says Sun Silver shares could reach $6.54 within 12 months, implying a potential 250% upside.

In a note, East Coast Research said:

SS1's impressive recent 3rd Mineral Resource upgrade in under 2 years since listing places its Maverick Springs Project as a standout, strategically significant U.S. primary silver asset at a time when silver is becoming an important element of the North American / western-based secure supply chain thematic.

Here is the outlook for the silver price in 2026.

Turalco Gold Ltd (ASX: TCG)

The Turalco Gold share price closed 2.3% higher at 68 cents yesterday.

The ASX gold mining share has fallen 18.7% in the YTD and ripped 88% over the past 12 months.

Morgans retained a buy rating on Turalco after a visiting its Afema Gold Project in Côte d'Ivoire.

The broker commented:

Afema represents one of the largest undeveloped gold projects on the ASX, hosting a 4.06Moz resource at 1.2g/t Au.

The visit included all key resource prospects, future growth corridors, site infrastructure, core yard and a visit through the local community — reinforcing both the scale of the system and development readiness.

Morgans has a 12-month share price target of $2.19. This implies a 220% potential upside over the next 12 months.

Canaccord Genuity is less ambitious.

It has a buy rating and a target of $1.45, which suggests a still impressive potential 113% capital gain over the year ahead.

Check out some 2026 gold price forecasts here.

True North Copper Ltd (ASX: TNC)

The True North Copper share price closed at 49 cents on Thursday, up 4.3%.

This ASX copper mining share has fallen 5.8% YTD but risen 32% over the past 12 months.

True North's flagship asset is the Mount Oxide exploration project, which has copper, silver, and cobalt deposits.

True North Copper also owns the Cloncurry Copper Project.

Morgans has a buy rating with a 12-month target of $1.20.

This suggests a possible 145% capital gain over the next year.

Check out Goldman Sachs' 2026 forecast for the copper price here.

The post 3 ASX mining shares tipped to double in a year appeared first on The Motley Fool Australia.

Perhaps the new year is set to be just as strong, with materials already up 12.7% year-to-date, despite the recent commodities rout.

This compares to a 2.7% bump for the All Ordinaries Index (ASX: XAO) and a 3.6% lift for the S&P/ASX 200 Index (ASX: XJO).

The largest mining stock on the market, BHP Group Ltd (ASX: BHP), reached a near four-year high of $52.64 per share yesterday.

Other ASX mining shares are trading at record highs.

These include gold miner Northern Star Resources Ltd (ASX: NST) and diversified miner Rio Tinto Ltd (ASX: RIO).

If you're looking for investment ideas in the mining space, here are three stocks with buy ratings from the experts.

Ramelius Resources Ltd (ASX: RMS)

The Ramelius Resources share price closed at $4.69 on Thursday, down 0.42% for the day and up 82% over the past year.

Shaw and Partners has a buy rating on this ASX gold mining share.

The broker's 12-month share price target is $6.50, implying a potential near-40% upside from here.

Shaw and Partners said:

Ramelius is embarking on a heavy investment phase over the next four years, yet our revised gold price outlook suggests they will maintain a robust upward trajectory in liquidity, with free cash flow yields tripling by 2030.

The market likely underestimates the production potential at Dalgaranga, and given management's history of conservative forecasting, further discoveries at Cue or Magnet could easily push performance beyond current expectations.

Check out some 2026 gold price forecasts here.

Turalco Gold Ltd (ASX: TCG)

The Turalco Gold share price closed 3.7% higher at 71 cents yesterday.

The ASX gold mining share has risen 103% over the past 12 months.

Morgans maintained its buy rating on Turalco after a visiting its Afema Gold Project in Côte d'Ivoire.

The broker commented:

Afema represents one of the largest undeveloped gold projects on the ASX, hosting a 4.06Moz resource at 1.2g/t Au.

The visit included all key resource prospects, future growth corridors, site infrastructure, core yard and a visit through the local community — reinforcing both the scale of the system and development readiness.

Morgans raised its 12-month share price target from $1.63 to $2.19, implying a potential 200%-plus upside from here.

Aeris Resources Ltd (ASX: AIS)

The Aeris Resources share price closed at 53 cents on Thursday, down 6.2% for the day but up 231% over the past year.

After the company released its 2Q FY26 report, Morgans maintained its accumulate rating

The broker also lifted its price target on the ASX copper mining share from 60 to 70 cents.

This suggests a possible 30%-plus capital gain over the next year.

The broker said:

Solid 2Q26 delivery. Cracow continues its strong performance and Tritton operated broadly to plan.

Our earnings forecasts and valuation have been upgraded to reflect the company's improved earnings outlook for the remainder of FY26 in the current copper and gold price environment.

Check out Goldman Sachs' 2026 forecast for the copper price here.

The post 3 ASX mining shares to buy: brokers appeared first on The Motley Fool Australia.

But arguably the key to making serious money in the gold sector is to be able to identify a company which is in the exploration phase and getting good results which will at some stage turn into a gold mine.

The analysts at Macquarie have singled out Turaco Gold Ltd (ASX: TCG) as one such company, and it's not hard to see why.

Strong quarterly results

Turaco, in its quarterly report released in recent days, said it continued to deliver "exceptional" results during the quarter, advancing exploration and feasibility programs across its portfolio in Côte d'Ivoire.

During the quarter the company was running five drill rigs at its flagship Afema project, completing more than 20,000m of drilling.

As the company said:

Drilling programs produced high-grade discoveries with Adiopan and Begnopan confirmed as additional deposits along the Afema shear, while new mineralised structures were identified at Woulo Woulo and Baffia.

During the quarter, the company also updated its mineral resource at the Afema project, which now stands at 102.9 million tonnes of ore at a grade of 1.2 grams of gold per tonne, for a total of 4.06 million ounces of contained gold.

Significantly, the updated mineral resource estimate does not include recent high-grade results from Adiopan, Herman, Baffia and Niamienlessa, highlighting the potential for continued near-term mineral resource estimate growth.

Continuing to impress

The Macquarie team noted that the recent resource upgrade was a half a million-ounce jump on the previously reported figure from just five months ago.

As they said:

Importantly, there was no change in overall grade while growth was also skewed to the indicated category, which is of high enough confidence for reserve estimation. The resource update was delivered on schedule and was a little above the 'circa-4 million ounces' we anticipated in our prior report.

The Macquarie team said Turaco had also flagged another resource update in early calendar 2026, which would be the basis for a prefeasibility study for a mine, with a definitive feasibility study to follow thereafter.

They went on to say:

All timelines are unchanged, and we retain our second half of 2028 first gold assumption. We suspect that the company could maintain the circa-100,000 ounces per month resource growth rate until the next resource update which implies Afema's resource could grow to about 4.5 million ounces.

The Macquarie analysts have a 12-month price target of 80 cents on Turaco shares compared with the closing price on Friday of 46 cents.

If achieved, this would constitute a return to shareholders of 75.8%.

The post Looking for an up-and-coming gold explorer? This one could deliver a 76% return, Macquarie says appeared first on The Motley Fool Australia.

Amongst others, their review includes a close look at all the movers and shakers in the ASX gold sector.

And the timing could not be better with the gold price hitting all-time highs at the start of September.

The precious metal has now skyrocketed by around 40% over the past twelve months to surpass US$3,470 per ounce.

Macquarie already singled out Northern Star Resources Ltd (ASX: NST) as its top ASX 200 gold stock.

But the broker did not stop there.

Its research also brought to light opportunities amongst smaller ASX gold stocks.

The below list features five gold companies that Macquarie believes could deliver meaningful share price gains, measured from the close of business on Tuesday.

Bellevue Gold Ltd (ASX: BGL)

Bellevue is a mining company producing gold from its namesake mine in Western Australia.

Macquarie has set a price target of $1.20 per share for this ASX gold stock after it reported better than expected operating earnings (EBITDA) in FY25.

This implies 35% upside potential for investors.

Greatland Resources Ltd (ASX: GGP)

Greatland only listed on the ASX in June this year.

The company operates the Telfer gold and copper mine in Western Australia.

It also owns the nearby Havieron gold and copper project which it plans to bring to production in the future.

Macquarie believes this ASX gold stock could see its share price rise by 18% to $7.10 per share.

Genesis Minerals Ltd (ASX: GMD)

Genesis is another ASX gold stock with mining operations in Western Australia. It runs multiple mines in the prolific Leonora region of the state.

Macquarie has set a target price of $5.50 per share for this miner, which equates to about 8% potential upside.

Vault Minerals Ltd (ASX: VAU)

Vault is yet another West Australian focused gold producer with three mines across the state.

It also plans to bring to production its undeveloped Sugar Zone project in Canada.

Shares in this ASX gold stock could rise by 15% and reach $0.65 per share, according to Macquarie.

Turaco Gold Ltd (ASX: TCG)

Turaco differs from the above ASX gold stocks as it is not yet in production.

The company is still an exploration business advancing two gold projects in Cote d'Ivoire.

As such, its operations are more speculative compared to the miners.

That said, Macquarie believes shares in this ASX gold stock have potential to rocket by 60% and reach $0.80 per share.

The post These 5 ASX gold stocks could be set to shine as gold prices roar to new heights appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is up 4% to $7.58. This follows a rebound in the gold sector on Thursday after a selloff yesterday. It isn't just Evolution Mining that is rising today. A number of ASX gold shares are climbing with it. This has led to the S&P/ASX All Ords Gold index rising 2.4% at the time of writing.

Orthocell Ltd (ASX: OCC)

The Orthocell share price is up 4% to $1.27. This morning, this regenerative medicine company announced the first sales of its Remplir product in the United States market. Remplir, which was recently approved by the US FDA, is a collagen wrap used in nerve repair surgery to improve regeneration of damaged nerves and patient outcomes. Orthocell's CEO and managing director, Paul Anderson, said: "Translating Remplir's regulatory clearance in the US to first sales revenue in a little over three months is a testament to the hard work we've done with our US roll out plan. This covers everything from our key internal hires in sales, marketing and medical affairs, appointing specialist distributors, Australian manufacturing ramp up and working with our on-the-ground US logistics partner."

Platinum Asset Management Ltd (ASX: PTM)

The Platinum share price is up over 12% to 55.75 cents. This appears to have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has upgraded the fund manager's shares to a buy rating with a 60 cents price target. Following news that it plans to merge with L1 Capital, the broker said: "Overall, we believe this is a very good deal for PTM. Firstly, the momentum in the L1 business means the combined business should be growing, particularly as we had previously assumed that PTM would continue to fade."

Turaco Gold Ltd (ASX: TCG)

The Turaco Gold share price is up over 5% to 49 cents. This follows news that the gold explorer has found high-grade gold during recent drilling at the Afema project in the Cote d'Ivoire. Managing Director, Justin Tremain, commented: "These latest results are significant in that they clearly demonstrate additional gold bearing structures outside the 1.6Moz Woulo Woulo deposit and with potential for higher grades. Auger drilling has extended the scale at both Herman and Baffia and has generated well defined targets with drilling underway."

The post Why Evolution Mining, Orthocell, Platinum, and Turaco shares are charging higher appeared first on The Motley Fool Australia.

Amid forecasts of a looming rebound for many raw materials, though not necessarily iron ore, many analysts are forecasting that the long-awaited rotation from high-performing S&P/ASX 200 Index (ASX: XJO) bank stocks into underperforming ASX mining stocks is about to kick off.

ASX 200 superstar Commonwealth Bank of Australia (ASX: CBA) could face some of the steeper selling. CBA shares have soared some 40% over the past year, making it the biggest company on the ASX with a market cap of $299.6 billion.

With the BHP Group Ltd (ASX: BHP) share price down around 14% over 12 months, the mining giant has slipped to number two on the ASX, with a market cap of $195.9 billion.

A number of analysts expect that BHP shares stand to benefit from the forecast rotation out of CBA shares (particularly with BHP's growing copper exposure). However, Perennial portfolio manager Sam Berridge believes a handful of ASX All Ords stocks should perform significantly better.

Tailwinds brewing for these ASX All Ords stocks

According to Berridge (quoted by The Australian Financial Review):

If we get a normalisation of this trade war and the US continues to cut rates because tariffs aren't as inflationary as expected, that should sow the seeds for a decent commodities rally towards the end of this calendar year and certainly into 2026.

But Berridge doesn't expect BHP shares to be the biggest beneficiary.

Instead, Perennial's Strategic Natural Resources Fund is investing in ASX All Ords stocks with strong exposure to raw materials, including aluminium, copper, rare earths, and gold.

For copper exposure, his fund holds FireFly Metals Ltd (ASX: FFM), among others. The FireFly Metals share price is up 32% over the past year, currently trading for $1.10 a share.

As for some of Perennial's top gold bets, Berridge named Ramelius Resources Ltd (ASX: RMS) and Turaco Gold Ltd (ASX: TCG). Amid a soaring gold price, the Ramelius Resources share price is up 27% over 12 months. Turaco Gold shares have rocketed 138% over this same time.

Gold is currently trading for US$3,331 per ounce, up around 29% in 12 months.

Berridge also expects to see a rare earths rally, which could usher in a welcome turnaround for ASX All Ords stock Brazilian Rare Earths Ltd (ASX: BRE). Shares in the rare earths miner are down 28% since this time last year.

The post Forget BHP and CBA shares and buy these 4 promising ASX All Ords stocks instead appeared first on The Motley Fool Australia.

The outperforming gold miners in question are Turaco Gold Ltd (ASX: TCG) and Barton Gold Holdings Ltd (ASX:BGD).

Here's what's grabbing ASX investor interest.

ASX gold stock soars on upgraded resource estimate

Kicking off with Turaco Gold, shares in the ASX gold stock are up 4.8% in late morning trade on Monday, changing hands for 44 cents apiece. That sees the Turaco Gold share price up 131.6% since this time last year.

Investors are bidding up the gold miner's shares again today after Turaco announced an updated independent JORC Mineral Resource Estimate (MRE) of 3.55 million ounces at its Afema Project, located in Cote d'Ivoire.

The updated MRE is more than 40% above the maiden MRE Turaco Gold announced in August 2024, with all deposits remaining open. And it's at a higher gold grade.

The company also highlighted that the new MRE does not include "substantial gold mineralisation" that it recently drilled at several nearby prospects.

Commenting on the upgraded MRE sending the ASX gold stock soaring today, Turaco Gold managing director Justin Tremain said, "This 3.55Moz gold resource estimate positions the Afema Project as one of the largest undeveloped gold projects in West Africa and comes just over one year since Turaco's acquisition."

Tremain added:

We have confidence in delivering further resource growth in the short term and will continue with our multi-rig drilling program. In addition, we will now commence a PFS to demonstrate what we believe will be compelling development economics for Afema.

Which brings us to…

Barton Gold share price leaps on scoping study

The Barton Gold share price is up 7.5% at the time of writing, with shares trading for 50 cents apiece. That sees this ASX gold stock up 100% in 2025.

Investor interest looks to have been piqued today by the release of the miner's Optimised Scoping Study (OSS) results for its South Australian Tunkillia Gold Project.

The OSS identified "material efficiencies" to extend Tunkillia to a roughly 10-year project life (including construction time). That's up from around eight years estimated in Barton Gold's July 2024 Initial Scoping Study.

Up front capital expenditure for the project is forecast to come down by $35 million, with the OSS also identifying an approximate 13% increase in payable gold.

Commenting on the OSS results sending the ASX gold stock surging today, Barton managing director Alex Scanlon said, "The OSS has delivered material gains as anticipated, following review of the Tunkillia ISS's conservative assumptions."

Scanlon added:

The energy savings from three stage crushing and lower work indices, combined with higher oxide recoveries and gold prices, demonstrate the financial and capital leverage available to large-scale processing of bulk open pit materials.

The higher-grade 'Starter Pit' alone could pay back over two times the up-front capital costs within the first 13 months.

The post 2 ASX gold stocks racing higher in Monday's sinking market appeared first on The Motley Fool Australia.

In such turbulent times, an old investing axiom says gold can be a safe haven.

Whether that's wise or not is up for debate, as some experts dislike how unproductive gold is as an asset.

But if you decide the precious metal is right for you, there are many ASX shares that can give you exposure.

Fortunately for you, The Motley Fool has dug up a couple of expert "buy" recommendations for you to consider.

Big risk for big reward in Africa

Shares for gold miner Turaco Gold Ltd (ASX: TCG) have doubled since May.

Argonaut associate dealer Harrison Massey is a fan of the business which operates gold projects in the West African country of Cote d'Ivoire.

"The company is progressing its 9000-metre air core drilling program, testing 3 kilometres of northern and southern strike extensions at Nyangboue," he told The Bull.

"The company is led by an experienced mining team."

As Turaco is in an exploratory stage, Massey acknowledges the risk involved in these shares.

If the company hits gold, shareholders will be bathing in returns. If it doesn't and goes broke, then the stock could go to zero.

"Recently, the shares have been enjoying favourable momentum, rising from 9.8 cents on September 30 to close at 15 cents on October 14," he said.

"Explorers carry risk but any encouraging results should paint a brighter outlook."

Turaco shares were trading for 14 cents on Monday morning.

Digging for gold in Western Australia

Closer to home, Calidus Resources Ltd (ASX: CAI) is in a more mature stage than Turaco.

TradeDirect365 technical consultant Braden Gardiner rates it as a "buy" while the business is building the "Warrawoona" mine in the east Pilbara of Western Australia.

"It has regulatory approvals and finance. The company is on schedule to produce gold in the June quarter of 2022."

Calidus shares were trading for 60 cents on Monday morning, which is more than 38% up in the past 6 months.

"Buyers supporting higher price levels provide an encouraging outlook," Gardiner said. 

"We expect positive momentum to drive the price through 75 cents."

The post 2 gold ASX shares experts are loving right now appeared first on The Motley Fool Australia.