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Gold Summary for Feb. 10, 2016

2016-02-10 20:41 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold gained $8.00 to $1,196.80 on Wednesday. The TSX Venture Exchange fell 0.18 point to 505.31 while the TSX Gold Index gained 2.86 points to 167.12. Kinross Gold Corp. (K) led Canadian gold miners higher today, gaining 20 cents to $3.58 on 15.94 million shares. Kirkland Lake Gold Inc. (KGI) led the retreaters, dropping 23 cents to $6.15 on 1.86 million shares.

John Ryan's Spruce Ridge Resources Ltd. (SHL), up one-half cent to 1.5 cents on 1.05 million shares, is optioning two of its Newfoundland gold plays near the northern coast of Newfoundland to Dustin Angelo's Anaconda Mining Inc. (ANX: $0.055). The properties are Viking, which hosts a small gold resource at Thor, and Kramer, which is contiguous to Viking. (Thor hosts 937,000 tonnes indicated at 2.09 grams of gold per tonne and another 350,000 inferred at 1.79 grams per tonne, a total of 83,000 ounces.) The 4,000 hectares of claims are just 100 kilometres by barge from Anaconda's Pine Cove mill. Anaconda clearly likes the area as it recently staked an additional 2,200 hectares of claims surrounding Viking and Kramer.

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