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 rose $2.80 to $1,960.10 on Thursday. The TSX Venture Exchange rose 5.52 points to 632.05 while the TSX gold index added 0.43 point to 291.01. Most Canadian gold miners stayed in their comfort zone today, although some had more energetic moves. McEwen Mining Inc. (MUX) jumped 58 cents to $11.23 on 62,000 shares, carrying on yesterday's $1.01 rise to $10.62 on 51,000 shares that followed word the company had an encouraging copper hit at Los Azules in Argentina. Novagold Resources Inc. (NG) added a single cent to $5.81 on 426,000 shares.

News proved the impetus to move a few others. Torex Gold Resources Inc. (TXG) was one, but not in a good way. Torex shed 78 cents to $18.86 on 561,000 shares on word it produced 107,500 ounces of gold in its second quarter. This is down from the 123,000 ounces the company produced in the first quarter. The reduction, says Jody Kuzenko, president and chief executive officer, was grade driven and reflects the sequencing of the pits, and so was "expected" -- by all save the market, it appears. The lower production aside, Torex says it expects to hit its 2023 production guidance of between 440,000 and 470,000 ounces.

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