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by Stockwatch Business Reporter
New York spot gold lost $0.50 to $1,322.60 on Monday. The TSX Venture Exchange lost 1.20 points to 827.70 while the TSX Gold Index added 1.91 points to 181.96. Barrick Gold Corp. (ABX) was strong, gaining 45 cents to $15.59 on 4.50 million shares, but China Gold International Resources Corp. (CCG) was not. It lost 17 cents to $2.99 on 533,000 shares.
Charles Desjardins and Doug McFaul's Pistol Bay Mining Inc. (PST), up one-half cent to six cents on 244,000 shares, is preparing to drill its 20,700-hectare Confederation Lake gold project in Northwestern Ontario. Pistol Bay plans 1,500 metres of drilling across three holes at the Arrow zone, while 2,000 metres of drilling across 10 holes are planned at the Fredart A zone. (The company has contracted for a minimum of 3,000 metres in the planned program.) Pistol Bay acquired its first ground in the area in 2015 and it added to its holding over the past two years, but this will be the first drilling on the property in years.
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