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Gold Summary for March 9, 2023

2023-03-09 19:18 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $17.10 to $1,830.90 Thursday as the TSX Venture Exchange fell 7.49 points to 617.74 while the TSX gold index slipped 1.11 points to 260.80. Most Canadian gold miners drifted lower, although Pan American Silver Corp. (PAAS) did add 28 cents to $21.05 on 1.14 million shares. Lundin Gold Inc. (LUG) helped lead the retreat, dropping 39 cents to $13.53 on 971,000 shares.

Steven Dean's Artemis Gold Inc. (ARTG) jumped 34 cents to $4.44 on 549,000 shares on word that it has approval from the British Columbia government for its Blackwater mine in central British Columbia. Mr. Dean, chairman and chief executive officer, was pleased. He gushed thanks to the government, the Lhoosk'uz Dene, Ulkatcho and Carrier Sekani first nations for their "substantial efforts during the consultation and review process."

The permit approval, Mr. Dean enthused merrily, "is the culmination of a substantial amount of work completed by our team in collaboration with our first nation partners and the provincial government." Blackwater, he beamed, has been designed to have one of the smallest carbon footprints for an open-pit gold project in the world and the company has "a defined path forward to substantially reduce that footprint further and potentially achieve net-zero carbon emissions through the integration of a zero-exhaust-emission haul fleet by 2029."

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