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Gold Summary for May 15, 2020

2020-05-15 17:40 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $11.50 to $1,742.20 on Friday. The TSX-V rose another 10.75 points to 509.01 while the TSX gold index added 13.67 points to 370.32. Pan American Silver Corp. (PAAS) was strong today. It added $3.73 to $34.54 on 2.04 million shares. Alacer Gold Corp. (ASR) jumped $1.21 to $9.69 on 5.99 million shares. Its stock now moves in lockstep with SSR Mining Inc. (SSRM), which jumped $3.83 to $30.08 on 1.9 million shares. SSR Mining said earlier this week that it will acquire Alacer through a $2.4-billion stock offer.

Timothy Froude's Sokoman Minerals Corp. (SIC) gained one-half cent to 10.5 cents on 2.9 million shares, having wrapped up its fifth phase of drilling at its Moosehead gold project in central Newfoundland. The program, initially slated for 3,000 metres when the work began in February, had reached 3,229 metres across 13 holes when completed at the end of March. Nevertheless, in late April, Mr. Froude, president and chief executive officer, made a "strategic decision" to snap off another three or four holes while the cool weather held.

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