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by Stockwatch Business Reporter
New York spot gold added $4.10 to $1,898.40 on New Year's Eve -- thankfully, the last day of pandemic-plagued 2020. The TSX Venture Exchange added 10.10 points to 875.36 while the TSX gold index fell 6.77 points to 315.42. COVID-19 and trillion-dollar deficits notwithstanding, 2020 was a good year for the TSX-V, which began the year flatlined near 580 and promptly slumped to just 330 in mid-March. It has been mostly party hats and kazoos since then, save for a few early fall jitters. It was also a good year for bullion, at least if one overlooks the brief $300 swoon in mid-March -- and the fact that the gold rally stalled in August.
Rob McEwen's McEwen Mining Inc. (MUX) was not one of the better performers this year, as it ended 2020 lower than the $1.75 at which it began the year. McEwen lost three cents to $1.25 on 760,000 shares today despite some slight encouragement from a feasibility study of its Fenix project in Sinaloa, Mexico. The bottom line was tolerable, with a 9.5-year mine projected to cost just $42-million (U.S.) to get running, generating a discounted net present value of $32-million (U.S.) after taxes.
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Re: St.James Gold Corp - any new deal that cheap in the "near vicinity" of the successful New Found Gold Queensway project is bound to be fundamentally worthless, except perhaps as a short-lived pump and dump.