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by Stockwatch Business Reporter
New York spot gold slipped $5.20 to $1,311.90 on Monday. The TSX Venture Exchange rose 2.40 points to 625.26 while the TSX Gold Index added 0.10 point to 189.98. Most Canadian gold miners moved little today. One exception was Oceanagold Corp. (OGC), which slid 30 cents to $4.35 on 4.86 million shares. Oceanagold expects to produce between 500,000 and 550,000 ounces of gold this year, compared with the 533,000 ounces it produced in 2018. Not so good is its cost prediction, which calls for all-in sustaining costs of up to $900 (U.S.) per ounce, compared with $767 (U.S.) last year.
Dr. Jacques Trottier and Victor Cantore's Amex Exploration Inc. (AMX), down 10 cents to 52 cents on 769,000 shares, has received assays of up to 214.71 grams of gold per tonne over 0.65 metre. That hit occurred within a 5.85-metre interval that averaged 13.29 grams per tonne in a hole drilled into the Eastern zone at the Perron project in the Abitibi district of Quebec. A second hole produced 13.29 grams per tonne over 2.25 metres, including a 0.75-metre interval that averaged 39.58 grams per tonne. High grades notwithstanding, the assays fell short of the first hole of the 2019 drill program, which accounts for the market's dour reaction. That first test produced 393.33 grams of gold per tonne over 1.7 metres.
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