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Top 5 Gold Rush: Unveiling 2024’s High Yielding ASX Gold Stocks

1. Newcrest Mining Ltd (NCM)

Arguably the superstar of the Australian gold miners in 2024, Newcrest Mining Ltd has consistently proven its worth in the market. Headquartered in Melbourne, this global mining powerhouse’s primary operations are focused on gold, but it also produces copper and silver as by-products. The company’s noteworthy portfolio of mines is spread across Australia, Papua New Guinea, Indonesia, Canada, and West Africa.

In 2024, Newcrest has impressively increased its production and reduced its all-in sustaining costs, resulting in a surge of profitability and an impressive return on investment. Their standout project is the Lihir operation in Papua New Guinea, which is one of the largest gold deposits worldwide, followed by the Cadia mine in New South Wales, which has repeatedly posted record-breaking performances.

2. Northern Star Resources Ltd (NST)

Second on the list is Perth-based Northern Star Resources Ltd. Known for its strategic acquisitions and organic growth, Northern Star operates a cohesive portfolio of top-tier, high-grade, low-cost mines in both Australia and North America.

In 2024, the company’s expansion of the Pogo mine in Alaska dramatically increased its production, concurrently boosting its share price considerably. Closer to home, the merger of their Kalgoorlie operations with those acquired from Saracen Mineral Holdings has significantly improved their economics and extended the mines’ lives.

3. Evolution Mining Ltd (EVN)

Next is Evolution Mining Ltd, which since inception in 2011, has built a reputation for operational efficiency and strong fiscal discipline. In 2024, this mid-tier miner made headlines with five gold mines spread across Australia and Canada.

Evolution Mining has received commendation for it’s bold Mackay-based Mt Carlton project, as well as the Red Lake Gold Mine in Canada which is projected to produce over 300,000 ounces in 2024. As a result, investors have been keen to get a piece of the action, helping drive the EVN stock price on an upward trajectory.

4. Bellevue Gold Ltd (BGL)

Emerging as a promising gold developer in 2024 is Bellevue Gold Ltd. This Perth-based company is focused on redeveloping the historic Bellevue Gold Mine in Western Australia, which was once one of Australia’s highest-grade gold mines.

In 2024 the company’s shares soared following the announcement of an upgraded mineral resource estimate showing a substantial increase in ounces and the grade of gold at the project. Moreover, Bellevue’s commitment to exploration and discovery created an exciting pipeline of opportunities that investors found irresistible.

5. West African Resources Limited (WAF)

Rounding off the top five gold stocks in 2024 is West African Resources. It may be the youngest entity on this list, but the company’s achievements in a short period are noteworthy. The company operates the high-grade Sanbrado Gold Project in Burkina Faso, which has become one of the highest-grade open pit gold mines globally.

West African showed exceptional performance due to efficient management and impressive production from the Sanbrado mine, providing the company with sky-high returns. Despite operating in a tough region, the company’s dedication to improving community relations and establishing robust security measures has led to impressive investor confidence.

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