08:43:33 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Gold Summary for Jan. 13, 2017

2017-01-13 17:36 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold gained $1.90 to $1,196.90 on Friday. The TSX Venture Exchange gained 4.87 points to 794.51 while the TSX Gold Index gained 1.02 points to 205.47. Torex Gold Resources Inc. (TXG) was the big loser today. It fell $1.09 to $26.74 on 757,000 shares.

Chris Richter's AuRico Metals Inc. (AMI), up one cent to $1.18 on 977,000 shares, has updated its resource estimate for the Kemess East project in northwest British Columbia. The deposit now has 113.1 million tonnes indicated at 0.46 gram of gold and 1.94 grams of silver per tonne, accompanied by 0.38 per cent copper. Another 63.8 million tonnes are inferred at 0.31 gram of gold and 1.90 grams of silver per tonne, with 0.34 per cent copper. The resource now hosts a combined 2.3 million ounces of gold, nearly 11 million ounces of silver and over 1.4 billion pounds of copper.

Mr. Richter, AuRico's $300,000-a-year president and chief executive officer, says the new calculation is "a very exciting outcome" to the company's 2016 exploration program. He says the new estimate is a substantial improvement to the old one, which was prepared last March. The old estimate contained nearly two million ounces of gold, about 9.5 million ounces of silver and over 1.2 million pounds of copper, so the main improvement was the movement of a large amount of inferred resources to the indicated category.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2024 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


Comments for this item are closed