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Gold Summary for Feb. 3, 2016

2016-02-03 20:51 ET - Market Summary

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New York spot gold gained $13.50 to $1,142.50 on Wednesday. The TSX Venture Exchange gained 5.15 points to 500.14 while the TSX Gold Index gained 8.15 points to 149.83. Canadian gold miners performed well, led by Agnico Eagle Mines Ltd. (AEM), which gained $1.47 to $43.22 on 1.87 million shares.

Daniella Dimitrov's Orvana Minerals Corp. (ORV), up one cent to 13 cents on 154,000 shares, is excited about a new gold resource at its El Valle mine in northern Spain. Ms. Dimitrov, president and chief executive officer, says her company is very pleased with the new oxide deposit in the Villar zone, which lies behind area A107, another oxide zone that is currently being mined. She says Villar remains open to the east and that is fortunate since the current resource estimate for Villar is modest at best. A new resource at La Brueva, another new oxide deposit drilled last year, is not much larger. Drilling at El Valle will continue this year.

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