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Gold Summary for June 8, 2021

2021-06-08 18:59 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold dipped $7.20 Tuesday, closing at $1,892.50. The TSX Venture Exchange lost 2.49 points to 974.56 while the TSX gold index lost 3.94 points to 322.24. Most Canadian gold miners moved little, but there were some busy traders. Barrick Gold Corp. (ABX) fell 28 cents to $28 on 8.39 million shares while Kinross Gold Corp. (K) dropped 21 cents to $9.45 on 9.03 million shares.

The pursuit of Newfoundland gold sent Mike Bandrowski's Big Ridge Gold Corp. (BRAU) higher today. It leapt 9.5 cents to 28 cents on 5.09 million shares on word that it has closed a deal that gives it an option to earn up to an 80-per-cent interest in the Hope Brook project in southwestern Newfoundland from Keith Neumeyer and Dan Wilton's First Mining Gold Corp. (FF: $0.37).

Mr. Bandrowski, president and chief executive officer of Big Ridge, was terse but "excited" to close the deal, and to start a Phase 1 exploration program this summer. Over at First Mining, Mr. Wilton, CEO, upped the enthusiasm ante. He was "extremely pleased" to add Big Ridge to its partnership portfolio, adding that he and his crew look forward to seeing the Big Ridge team "unlock the value of our Hope Brook project."

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