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Gold Summary for June 26, 2020

2020-06-26 19:45 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $6.30 to $1,771.50 on Friday. The TSX-V rose 2.78 points to 598.74 while the TSX gold index added 2.78 points to 334.47. There were several bright lights among Canadian gold miners today. One was West African gold miner, Endeavour Mining Corp. (EDV), which added 51 cents to $33.12 on 1.03 million shares. The company said today that it has received final regulatory clearances for its acquisition of Semafo Inc. (SMF), another West African gold producer. The $1-billion (U.S.) stock deal calls for Semafo's shareholders to get roughly one Endeavour share for each seven Semafo shares they own. Those Semafo shares rose 13 cents to $4.70 on 6.23 million shares today.

John Dorward's Roxgold Inc. (ROXG), up five cents to $1.47 on 1.66 million shares, has received assays of up to 28 grams of gold per tonne over 20 metres from infill drilling at the Ancien deposit on its Seguela gold project in Ivory Coast. That glittering hit got a boost from a three-metre interval that averaged 94.2 grams per tonne, but there were plenty of high-grade intervals in the latest results. As well, Roxgold received plenty of encouragement from extension drilling at Ancien, with assays of up to 28.8 grams per tonne over seven metres.

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