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by Stockwatch Business Reporter
New York spot gold slid $13.10 to $1,295.80 on Thursday. The TSX Venture Exchange lost 1.15 points to 623.07 while the TSX Gold Index dropped 4.44 points to 192.82. Endeavour Mining Corp. (EDV) helped lead the retreat. It lost 87 cents to $19.69 on 350,000 shares. Alacer Gold Corp. (ASR) bucked the trend. It rose five cents to $3.77 on 4.36 million shares.
Barrick Gold Corp. (ABX) joined the retreat despite some big, although expected news today, dropping 29 cents to $17.44 on 4.69 million shares despite it signing an implementation agreement with Newmont Mining Corp. (NEM) to joint venture their Nevada gold operations. The two companies produced a combined 4.1 million ounces last year and guidance for 2019 calls for between 5.1 million and 5.6 million ounces. Newmont also lost ground on the news, dropping 99 U.S. cents to $33.42 (U.S.) on 11.46 million shares.
Antonio Berlanga and Ralph Shearing's Telson Mining Corp. (TSN), up one cent to 38 cents on 5,000 shares, has received assays of up to 8.48 grams of gold and 104 grams of silver per tonne, plus 0.85 per cent copper, 5.82 per cent lead and 11.01 per cent zinc over 4.95 metres. The assays are from underground channel sampling during development in the El Creston zone at its Tahuehueto project in Durango, Mexico. Mr. Berlanga, chief executive officer, says that the El Creston samples continue to show the quality of the Tahuehueto mineralization, adding that they are verifying the company's reserve base previously established. The Tahuehueto reserve currently stands at 3.26 million tonnes averaging 3.4 grams of gold and 41.8 grams of silver per tonne, plus 0.35 per cent copper, 1.19 per cent lead and 2.24 per cent zinc.
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