• In 2017 Saturn Metals acquired the Apollo Hill Gold Project in the Western Australia gold fields from Peel Mining (ASX: PEX)
  • Saturn listed on the ASX in 2018, adding a joint venture in the West Wyalong Gold Project.
  • The share price has been drifting lower since hitting an all-time high in 2020 with scant interest from investors and analysts alike.

In July of 2020, the Saturn share price jumped to an all-time high on the announcement of positive drilling results at the company’s flagship asset – the Apollo Hill Gold Project. Positive results continued throughout 2020 along with a successful capital raise.

In 2022 and 2023 the pattern continued, adding positive drilling results on gold deposits adjacent to Apollo Hill.

saturn metals limited stn stock price chart overview march 2024

Source: ASX

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Saturn Half Year 2024 Financial Report contained results from the company’s PEA (preliminary economic assessment) showing that the opening of mines and heap leach processing facilities at Apollo would generate cash flows averaging $90 million dollars per year within 2.8 years of the commencement of production.

 

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Throughout all these positive announcements, the share price has failed to see any sustained upward momentum.

In September of 2023, an article appearing in Forbes pointed to “muted investor interest in junior gold miners.”  The price of gold is hitting all-time highs, yet the ninety-day average trading volume for STN shares is a paltry 142, 868 shares per day.

An analyst at Alto Capital has a BUY recommendation on Saturn Metals shares, citing an in-progress pre-feasibility study showing positive potential, commenting that although investors appear uninterested in junior gold miners despite the strong gold price, the highly speculative company “offers good upside potential on any advancements towards production amid considerable exploration in the Apollo Hill region and West Wyalong gold field in New South Wales

Marketscreener.com has a single analyst reporting with a BUY recommendation on Saturn shares.

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