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Gold Summary for Aug. 25, 2016

2016-08-25 20:45 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $2.20 to $1,321.60 on Thursday. The TSX Venture Exchange rose 12.41 points to 801.93 while the TSX Gold Index gained 2.51 points to 240.60. Most Canadian gold miners rose today, led by Alacer Gold Corp. (ASR), which added 15 cents to $3.14 on 1.68 million shares. Eldorado Gold Corp. (ELD) lost 11 cents to $4.60 on 6.27 million shares.

Michael Sweatman's Eureka Resources Inc. (EUK), down one cent to 13 cents on 168,000 shares, has granted an option on the FG gold property in the Cariboo region of British Columbia to Bradford Cooke and Catalin Chiloflischi's Canarc Resource Corp. (CCM: $0.11). Canarc can earn a 51-per-cent interest by spending $1.5-million on exploration, making modest cash payments and issuing 750,000 shares in stages over three years. It can increase its interest to 75 per cent by spending another $1.5-million and issuing another 1.5 million shares over the following two years.

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