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Gold Summary for May 13, 2020

2020-05-13 17:32 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $15.70 to $1,717.40 on Wednesday. The TSX-V fell 7.30 points to 493.41 while the TSX gold index added 2.78 points to 345.40. Eldorado Gold Corp. (ELD) dipped 20 cents to $12.33 on 2.01 million shares; Endeavour Mining Corp. (EDV) led the advance, adding 98 cents to $28.34 on 850,000 shares. Neither company had news to support their moves.

Jeffrey Pontius's Corvus Gold Inc. (KOR) jumped 35 cents to $2.58 on 958,000 shares on word that it has discovered a large mineralized zone below the known deposit at Mother Lode, on its Bullfrog project in Nevada. The new find, which occurred during drilling of the first deep drill hole into the Central Intrusive zone (CIZ), returned 2.56 grams of gold and 3.18 grams of silver per tonne over 125.5 metres commencing at a depth of 376 metres. The interval included a 14.8-metre zone that averaged 8.88 grams of gold per tonne and a deeper 33.27-metre interval that returned 3.77 grams of gold per tonne.

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still remember 1990's, some big wheel toronto broker interview on live tv..."..can't wait for market to open to short Diamondfields, that promoter is a...", guess he was wrong, moral of the story, learn the industry before trying to talk about it or especially trying to make money in it

Posted by yeh at 2020-05-13 18:07

I remember the 1990s too!

I remember an outfit called Bre-X. I remember the BMO analyst Egizio Bianchini saying the rumours of a hoax were "...so preposterous, I am not even going to address the possibility,” adding: “The gold is there.”

Just another big-wheel Toronto broker? Perhaps.

He should have first learned the industry like those who did this in early 1997: "PDAC honors John Felderhof as Prospector of the Year."

Moral of the story? There are no absolutes, but hubris can kill 'ya.

Posted by Yahweh at 2020-05-15 13:12