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Gold Summary for April 30, 2015

2015-04-30 21:20 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold dropped $20.60 to $1,184 Thursday. After the Federal Reserve's bearish statement on Wednesday, analysts now predict that the Fed will leave its interest rates unchanged until September. Here in Canada, the TSX Venture Exchange lost 1.40 points to 695.97 and the TSX Gold Index slipped 3.72 points to 166.29.

Major Canadian gold miners followed bullion down. Barrick Gold Corp. (ABX) fell 54 cents to $15.68, Alamos Gold Inc. (AGI) lost 22 cents to $8.34, Eldorado Gold Corp. (ELD) fell 12 cents to $6.01 and Iamgold Corp. (IMG) dropped 14 cents to $2.70.

Mike Wilkes's OceanaGold Corp. (OGC), down three cents to $2.30 on 1.89 million shares, has offered $101-million in cash for Newmont Mining Corp.'s (NEM: $26.49 (U.S.)) Waihi gold mine in New Zealand. Newmont is looking to improve its balance sheet, and OceanaGold is looking to increase gold production. Waihi should produce 100,000 ounces of gold this year, boosting the company's 2015 target to 435,000 ounces. The rest of the gold will come from the Macraes mine in New Zealand and the Didipio mine in the Philippines. OceanaGold is hoping to one day have gold production from its El Dorado property in El Salvador, but this property is currently the subject of arbitration.

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Thanks Ms. Boyle. You are really helping out junior mining investors to stay away. People like you with no focus and just looking to "sniff out something sexy" are the problem. Nobody wants "sexy" in an investment ..they want substance. Sexy is for auto shows. Besides the Medical weed thing is a totally unknown to you, so why should the punters pay you your exec perks to learn?

Posted by shoes at 2015-05-01 07:12

There is a typo in the cutline for this article, it should read Tartan lake. Tagish Lake is a gold property in the Yukon, currently for sale by New Pacific Metals.

Posted by Backseat Driver at 2015-05-01 13:24

There is a typo in the cutline for this article, it should read Tartan lake. Tagish Lake is a gold property in the Yukon, currently for sale by New Pacific Metals.

Posted by Backseat Driver at 2015-05-01 13:25


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