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Gold Summary for Sept. 14, 2016

2016-09-14 19:07 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $3.90 to $1,322.30 on Wednesday. The TSX Venture Exchange gained 5.18 points to 802.35 while the TSX Gold Index inched upward 0.30 point to 236.47. Most Canadian gold miners traded in a narrow range today, unlike may previous days this summer. Alacer Gold Corp. (ASR) did gain 24 cents to $3.68 on 3.32 million shares, while Kirkland Lake Gold Inc. (KGI) lost 21 cents to $11.58 on 1.08 million shares.

Jean-Marc Lacoste's Monarques Gold Corp. (MQR), up three cents to 50 cents on 38,000 shares, has resumed drilling at its Croinor gold project, 70 kilometres east of Val d'Or in Quebec. Mr. Lacoste, president and chief executive officer, says his company plans 10,000 metres of drilling in the fall program, which will test the main Croinor Gold deposit as well as some additional "high-potential exploration targets," including Gold Bug, Trench 2 and Bug Lake. He says that the plan is in line with the company's development strategy, which aims to increase the resource at the Croinor Gold deposit, ensuring a longer mine life and a steady supply of ore for its Beacon operation.

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