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Gold Summary for Feb. 11, 2020

2020-02-11 18:49 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $4.20 to $1,567.60 on Tuesday. The TSX Venture Exchange rose 2.33 points to 573.12 while the TSX Gold Index lost 0.77 point to 261.06. Most Canadian gold miners gained ground today, led by Sean Roosen's Osisko Gold Royalties Inc. (OR), which added 71 cents to $13.68 on 2.89 million shares. Oceanagold Corp. (OGC) had an eventful day, slumping to $2.20 and tripping a circuit breaker in intraday trading, only to end the day up 13 cents to $2.60 on 4.67 million shares. Newmont Goldcorp Corp. (NGT) went the other way, dropping 23 cents to $58.83 on 188,000 shares.

Quentin Yarie's MacDonald Mines Exploration Ltd. (BMK), up one-half cent to 6.5 cents on 2.73 million shares, has hit two new gold zones at its SPJ project, just east of Sudbury in Northeastern Ontario. The most intriguing of the two hits, a 7.8-metre interval that averaged 12.1 grams of gold per tonne, occurred within the Daytona structure, between the Scadding mine and the E-W pit. The second find, a 4.5-metre near-surface zone interpreted as a western extension of the Villeneuve zone, averaged 5.47 grams per tonne.

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