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 $3.70 to $1,206.10 Thursday. The TSX Venture Exchange rose 5.09 points to 700.51, while the TSX Gold Index lost 1.13 points to 166.37.

Major Canadian gold miners had a flattish day. Eldorado Gold Corp. (ELD) rose three cents to $5.95, Barrick Gold Corp. (ABX) rose five cents to $15.19, Kinross Gold Corp. (K) remained unchanged at $2.98 and Goldcorp Inc. (G) lost 11 cents to $22.47.

Robert Pease's Sabina Gold & Silver Corp. (SBB) added 3.5 cents to 42 cents on 859,000 shares. The company has completed a feasibility study for its Back River gold project in Nunavut. A mine will cost $695-million using a $1,200 gold price. All-in cash costs are pegged at $850 an ounce. Sabina has $26.9-million in working capital, left over from $182-million in financings that it completed several years ago. In 2011 and 2012, Sabina sold $132-million worth of shares at prices ranging from $2.90 to $6.60. It also sold its Hackett River base metals property in British Columbia for $50-million to Xstrata PLC. Raising more money might be difficult, as the stock has fallen from a high $7.60 in early 2011. Fortunately, Sabina has a good relationship with Nunavummiut locals, having placed $1.4-million in a trust for the Kitikmeok Inuit Association. The company also gave Back River an Inuit name, Hannigayok.

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