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Gold Summary for Sept. 10, 2018

2018-09-10 20:39 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $0.80 to $1,195.40 on Monday. The TSX Venture Exchange rose 6.68 points to 718.74 while the TSX Gold Index lost 2.61 points to 150.05. Fred Stanford's Torex Gold Resources Inc. (TXG) bucked the trend of Canadian golds today, adding 38 cents to $9.63 on 294,000 shares. The company has updated its life-of-mine plan for the El Limon Guajes mine in Mexico, boosting forecast gold production to 430,000 ounces per year from 2019 to 2023. The report also projects the nearby Media Luna deposit with a pleasing discounted net present value.

Ashwath Mehra and Steve Burleton's GT Gold Corp. (GTT) jumped 23 cents to 75 cents on 10.5 million shares before an early afternoon halt. The company has received assays of up to 0.67 gram of gold and 0.89 gram of silver per tonne plus 0.41 per cent copper across 430 metres within an 822-metre-thick mineralized zone at Saddle North, at Tatogga in the Golden Triangle district of British Columbia. Mr. Burleton, president and chief executive officer since mid-June, calls the result a major new gold-copper-silver discovery.

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