09:36:15 EDT Thu 28 Mar 2024
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Gold Summary for May 30, 2018

2018-05-30 18:37 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $2.50 to $1,300.90 on Wednesday. The TSX Venture Exchange fell 0.97 point to 767.68 while the TSX Gold Index slipped 0.04 point to 190.10. Most Canadian gold miners moved little today. Tahoe Resources Inc. (THO) added 15 cents to $6.64 on 2.32 million shares while Osisko Gold Royalties Inc. (OR) fell 13 cents to $13.16 on 395,000 shares.

Darin Labrenz's Pure Gold Mining Inc. (PGM), up one cent to 68 cents on 1.97 million shares, says that a feasibility study of its Madsen gold project near Red Lake in Northwestern Ontario will be available in October. From there, the company will "be in a position to make a production decision" and to ramp up preproduction work as permits are updated. (Note the dollop of fudge topping an ample serving of waffle: While Mr. Labrenz assures his backers that Pure Gold is fully financed to feasibility with $24-million in the bank, the company still needs to finance the construction of its proposed mine.)

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