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Gold Summary for March 2, 2023

2023-03-02 19:40 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $0.40 to $1,836.40 on Thursday. The TSX Venture Exchange lost 2.68 points to 632.01 while the TSX gold index dipped 0.07 point to 270.47. Most Canadian gold miners moved lower today, but Franco-Nevada Corp. (FNV), up big yesterday, added another $1.13 to $183.07 on 606,000 shares today. On the other hand, New Found Gold Corp. (NFG), up big yesterday on a new gold find at Queensway in north-central Newfoundland, helped lead today's retreat, dropping 24 cents to $4.99 on 161,000 shares.

Matt Manson's Marathon Gold Corp. (MOZ) was unchanged at 90 cents on 846,000 shares on word that construction of its mine at Valentine Lake in central Newfoundland is 21 per cent complete. Mr. Manson, president and chief executive officer, applauded his company's effort so far, deeming it to be a "solid start-up for what will be Atlantic Canada's largest gold mine." The build remains on schedule, Marathon says, with first ore delivery to the mill expected by the end of 2024 and first production about two years from now.

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