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Gold Summary for Jan. 25, 2016

2016-01-25 21:01 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold gained $9.90 to $1,107.90 on Monday. The TSX Venture Exchange fell 1.06 points to 482.61 while the TSX Gold Index gained 4.81 points to 132.11. Barrick Gold Corp. (ABX) had a good day, gaining $1.08 to $13.24 on 10.65 million shares, but Eldorado Gold Corp. (ELG) did not. It lost 25 cents to $2.98 on 11.10 million shares.

Alvin Jackson and Kristina Walcott's Freegold Ventures Ltd. (FVL), up one cent to 7.5 cents on 125,000 shares, has obtained "positive results" -- rarely are they otherwise -- from a preliminary economic study of its Golden Summit gold project, northeast of Fairbanks in central Alaska. (In this case, much of the cheeriness stems from an assumed gold price of $1,300 (U.S.) per ounce.) The dream sheet credits the $88.4-million (U.S.) mine plan with a discounted net present value of $188-million (U.S.) after taxes. The plan calls for Golden Summit to produce nearly 100,000 ounces annually over 24 years.

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