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 closed down $8.20 to $1,189.80 Thursday, while stock markets in the United States remained closed for American Thanksgiving. They will open for a half-day tomorrow. All week analysts have been projecting an increase in physical gold demand on Black Friday, thanks to sales. Here in Canada, the TSX Venture Exchange dropped 15.60 points to 755.45 and the TSX Gold Index lost 1.69 points to 153.23.

Major Canadian gold miners ended the day lower. Goldcorp Inc. (G) slipped one cent to $23.48, Detour Gold Corp. (DGC) lost 41 cents to $9.49, Barrick Gold Corp. (ABX) lost 23 cents to $14.30 and Iamgold Corp. (IMG) dropped 11 cents to $2.54.

Andrew Dinning's Sarama Resources Ltd. (SWA) edged up two cents to six cents on 2.79 million shares. The company has attracted a big-name joint venturer to its South Hounde project in Burkina Faso. Acacia Mining PLC, which was known as African Barrick Gold until today, plans to earn 70 per cent of South Hounde, in exchange for $1-million now, and $14-million worth of exploration over the next four years. This is Sarama's second South Hounde joint venturer in as many months. Four weeks ago, it combined one of its South Hounde targets with Savary Gold Corp.'s (SCA: $0.025) similarly named Hounde South project. That JV is in promotable territory, sitting just south of Endeavour Mining Corp.'s (EDV: $0.50) Hounde project, where Endeavour is planning a $315-million gold mine. Acacia already has an interest there through a 2-per-cent NSR royalty on future production. With the majority of Sarama's South Hounde taken care of, Sarama has $6-million in working capital to explore at its Savary JV or at its other gold properties. It has one in Mali and three in Liberia. Sarama is exploring next to Aureus Mining Inc. (AUE: $0.32), and like Aureus, it too has strict Ebola protocols.

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