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Gold Summary for Feb. 27, 2017

2017-02-27 21:17 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $4.80 to $1,252.10 on Monday. The TSX Venture Exchange fell 9.06 points to 827.21 while the TSX Gold Index dropped 11.26 points to 205.24. Alacer Gold Corp. (ASR) fell hard, losing 37 cents to $2.56 on 5.08 million shares. So did Richmont Mines Inc. (RIC). It lost $1.17 to $10.18 on 808,000 shares.

Stephen de Jong's Integra Gold Corp. (ICG), down five cents to 79 cents on 3.18 million shares, has updated a preliminary economic assessment of its Lamaque gold project in the Val d'Or district of Quebec. The study projects a discounted net present value of $363-million after taxes, a substantial improvement over the $113-million value projected two years ago, and over the $88.5-million value calculated in the original dream sheet completed in the spring of 2014. The latest update follows a resource estimate, revised late last year, that currently lists 3.14 million tonnes indicated at 8.88 grams per tonne and 3.68 million tonnes inferred at 8.79 grams per tonne, a combined tally of nearly two million ounces of gold.

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