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Gold Summary for June 21, 2022

2022-06-21 18:22 ET - Market Summary

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by Stockwatch Business Reporter

New York spot lost $8.40 Tuesday, ending the day at $1,830.30. The TSX-V rose 11.02 points to 652.97 while the TSX gold rose 1.75 points to 289.02. Most Canadian gold miners reclaimed some lost altitude today. Kinross Gold Corp. (K) rose 13 cents to $5.44 on 5.93 million shares while New Gold Inc. (NGD) added seven cents to $1.60 on 1.46 million shares.

Southbound today was Yamana Gold Inc. (YRI), which fell 17 cents to $6.56 on 5.24 million shares. Yamana's stock is bound to that of its suitor, Gold Fields Ltd. (GFI: $9.68 (U.S.)), which took a $3 (U.S.) stumble at the end of May on word it is offering 0.6 share for each Yamana share. The $6.7-billion (U.S.) offer was widely panned by Gold Fields' shareholders -- to the point where the proffered 34-per-cent premium went poof.

Michael Konnert's Vizsla Silver Corp. (VZLA) added seven cents to $1.62 on 350,000 shares on word that it has drilled a 20.45-metre true-width interval averaging 4.23 grams of gold and 780 grams of silver per tonne in the Tajitos-Copala area at its Panuco project in Mexico. The assays, from 24 holes, produced several other encouraging hits among the 18 that encountered precious metals. A second hole yielded 3.89 grams of gold and 667 grams of silver per tonne over a 14.5-metre true width, while a third managed 5.44 grams of gold and 1,010 grams of silver per tonne across 9.35 metres.

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