06:19:19 EDT Fri 29 Mar 2024
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Gold Summary for June 30, 2017

2017-06-30 19:33 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $4.20 to $1,242.10 on Friday. The TSX Venture Exchange gained 4.34 points to 766.74 while the TSX Gold Index added 0.55 point to 194.86. Endeavour Mining Corp. (EDV) lost another 43 cents to $22.38 on 361,000 shares. Endeavour is acquiring Avnel Gold Mining Ltd. (AVK) in a $122-million (U.S.) deal. Avnel, up 13 cents to 41.5 cents on 33.7 million shares yesterday, lost one-half cent to 41 cents on 2.72 million shares today.

Richard Clark's Orca Gold Inc. (ORG), down one-half cent to 37.5 cents on 191,000 shares, will close its sale of 27.5 million shares at 40 cents next week. The $15-million is for work on its 70-per-cent-owned Block 14 gold project in northern Sudan. The drilling will cover the cost of up to 30,000 metres of drilling at Block 14 this year, which is needed to complete a feasibility study that has been promised for early next year. The first of six drill rigs is expected to arrive nest week at Block 14. Mr. Clark, chief executive officer, says he and his crew very much appreciate the support of the company's shareholders, adding that they will be rewarded with a steady flow of news for the rest of the year.

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