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by Stockwatch Business Reporter
New York spot gold fell $5.50 to $1,954.50 on Friday. The TSX Venture Exchange lost 3.61 points to 628.44 while the TSX gold index added 0.64 point to 291.65. Pan American Silver Corp. (PAAS) led precious metals miners higher today, adding 40 cents to $21.05 on 1.08 million shares. Ero Copper Corp. (ERO) went the other way, dropping 58 cents to $28.75 on 494,000 shares.
Darren Hazelwood's Mantaro Precious Metals Corp. (MNTR) rose two cents to six cents on 1.7 million shares following a halt called so investors could digest word of a maiden resource estimate covering the Golden Hill property in Bolivia. The company lists 857,000 tonnes inferred at 4.4 grams of gold per tonne, about 121,000 ounces, based on a 1.5-gram-per-tonne "robust cut-off grade." (As it turns out, the cut-off is not an issue -- upping it to two grams per tonne eliminates just 4,000 ounces while decreasing it to 1.2 grams per tonne adds only 9,000 ounces. In other words, there is a core zone with high grades and most of the gold and a lot of rock with grades of barely one gram per tonne.)
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