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 $15 to $1,186.80 Wednesday. The TSX Venture Exchange slipped 2.62 points to 697.55 and the TSX Gold Index lost 6.12 points to 160.81.

Canada's gold miners followed bullion down. Goldcorp Inc. (G) dropped 76 cents to $23.07, Agnico Eagle Mines Ltd. (AEM) dropped $1.99 to $35.58, Eldorado Gold Corp. (ELD) lost 15 cents to $5.85 and Yamana Gold Inc. (YRI) lost 20 cents to $4.70.

David Cole's Eurasian Minerals Inc. (EMX) climbed 21 cents to 76 cents on 225,000 shares, almost fully recovering from yesterday's 31-cent drop. The company attributes the unusual trading to "an imbalance in sales and purchase orders," or more sells than buys. Eurasian has $7-million in working capital and over 100 polymetallic properties (some optioned and others available for option) around the world, or more particularly in the United States, Norway, Sweden, Serbia, Turkey, Russia, Haiti, Australia and New Zealand. It also has a 1-per-cent NSR royalty on Newmont Mining Corp.'s Leeville gold mine in Nevada, which brought in $2-million in royalty revenue last year. Eurasian expects to receive even more this year, as Newmont completes a Leeville expansion. Eurasian also hopes to receive revenue shortly from its 4-per-cent NSR on the Balya silver-lead-zinc project in Turkey, where Turkish miner Dedeman Madencik has started development. President Cole is also looking for new royalties this year, in hopes revenue will one day cover exploration, which amounted to $6.8-million in 2014. For his services to Eurasian, president Cole received $464,000 last year. He has been with the company since 2003, the year he left his former employer, Newmont.

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