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Gold Summary
Symbol C : *MKTGOLD
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Gold Summary for Feb. 8, 2018

2018-02-08 19:41 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $1.10 to $1,317.00 on Thursday. The TSX Venture Exchange lost 11.50 points to 819.19 while the TSX Gold Index rose 0.11 point to 181.74. Endeavour Mining Corp. (EDV) led Canadian gold miners higher, adding 58 cents to $22.67 on 618,000 shares. Torex Gold Resources Inc. (TXG) followed along, adding 39 cents to $12.08 on 730,000 shares.

Jean-Marc Lacoste's Monarques Gold Corp. (MQR), down 1.5 cents to 35.5 cents on 114,000 shares, has an updated prefeasibility study for its Croinor gold project near Val d'Or in Quebec. The study projects a discounted net present value of $18.3-million, based on a $33.5-million mine that would operate at roughly 500 tonnes per day over a 2.6-year period, in which it would produce 126,000 ounces. The wiggle room for a profit is tight, but there is potentially more ore available that could extend the life further. While the study is based on a reserve of 603,000 tonnes averaging 6.66 grams of gold per tonne, or just under 130,000 ounces, the full deposit hosts 805,000 tonnes measured and indicated at 9.12 grams per tonne and another 160,800 tonnes inferred at 7.42 grams per tonne, for a combined 275,000 ounces.

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