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Gold Summary for Oct. 8, 2021

2021-10-08 18:41 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $1.20 Friday, closing at $1,756.60. The TSX Venture Exchange rose 2.98 points, closing at 877.48, while the TSX gold index dipped 0.45 point to 268.84. Most Canadian-listed gold miners strayed little from Thursday's close, although Endeavour Mining PLC (EDV) did manage a 55-cent gain to $30 on 942,000 shares.

Endeavour said late yesterday that it had priced the $500-million (U.S.) note offering that it arranged a week ago. The senior notes, which will come due in five years, will pay 5-per-cent annual interest. The debt replaces a $370-million (U.S.) bridge loan and a $130-million (U.S.) drawdown on a revolving credit facility. Endeavour has concurrently arranged a $500-million (U.S.) unsecured revolving credit facility.

Joel Freudman's Tru Precious Metals Corp. (TRU) closed unchanged at 15 cents on 135,000 shares. The company has the last of its assays from a 12-hole Phase I drill program at its Twilite project in central Newfoundland. Fridays are usually shunned by promoters looking to roll out new assays, unless, of course, the results are a tough sell. The latter situation appears to be the case here, as the new assays included a two-metre hit that averaged one gram per tonne in one hole and a 1.5-metre interval averaging 0.32 gram per tonne in another.

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