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Gold Summary for May 20, 2020

2020-05-20 17:45 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold added another $3.60 to $1,748.30 on Wednesday. The TSX-V rose another 6.12 points to 533.93 while the TSX gold index dropped 6.12 points to 359.63. Decliners were in good supply, with Teranga Gold Corp. (TGZ) dropping 42 cents to $11.22 on 1.42 million shares. It had company, with takeover target Alacer Gold Corp. (ASR) dropping 17 cents to $9.78 on 4.26 million shares. SSR Mining Inc. (SSRM), which made a $2.4-billion stock offer for Alacer earlier this month, fell 56 cents to $30.51 on 1.19 million shares. Endeavour Mining Corp. (EDV) was among those posting gains today. It added 83 cents to $32.88 on 835,000 shares.

Bradford Cooke and Scott Eldridge's Canarc Resource Corp. (CCM), up one cent to 7.5 cents on 3.74 million shares, has updated the 2019 preliminary economic assessment (PEA) of its New Polaris gold project in northwestern British Columbia. The details of the plan are unchanged: Canarc proposes an 8.7-year, 750-tonne-per-day operation that would average 80,000 ounces of gold per year. The capital cost remains unchanged at $111-million (U.S.), no surprise since the plan is the same one proposed a year ago.

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