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Gold Summary for Jan. 9, 2020

2020-01-09 18:06 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold, $1,575 on Tuesday, slid another $4 to $1,552 on Thursday as President Trump and Iran de-escalate their conflict whilst continuing to snarl at each other. The TSX Venture Exchange also lost ground, dropping 0.25 point to 577.66 while the TSX Gold Index dipped 1.22 points to 250.64. Kirkland Lake Gold Ltd. (KL) lost 23 cents to $56.32 on 997,000 shares on word that it produced just under one million ounces of gold last year. Torex Gold Resources Inc. (TXG), down 21 cents to $20.17 on 401,000 shares, produced just over 454,000 ounces of gold last year at its El Limon Guajes mine in southern Mexico.

Frank Basa's Granada Gold Mine Inc. (GGM) jumped 7.5 cents to 19.5 cents on 6.86 million shares on word that it has drilled 11.45 grams of gold per tonne over 33 metres at its Granada deposit in the Rouyn-Noranda region of Quebec. The high-grade surface-based intersection in the final hole of last year's 450-metre drill program was dotted with rich subintervals that ranged as high as 480 grams per tonne over 0.4 metre. This is the best result from the modest drill program. In November, Granada Gold hit 7.67 grams of gold per tonne across 15 metres and in October, it received assays of up to 48 grams per tonne over 0.5 metre.

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