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Gold Summary for July 18, 2018

2018-07-18 19:48 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $0.10 to $1,227.10 on Wednesday. The TSX Venture Exchange rose 4.47 points to 717.58 while the TSX Gold Index lost 0.18 point to 189.52. Barrick Gold Corp. (ABX) led Canadian gold miners lower today, dropping 28 cents to $16.46 on 3.22 million shares. There were plenty of gainers, notably Detour Gold Corp. (DGC), which added $1.45 to $13.70 on 8.47 million shares, as its spat with a dissident shareholder, Paulson & Co. Inc., heats up.

John McConnell's Victoria Gold Corp. (VIT), unchanged at 34 cents on 213,000 shares, is getting set for another drill program at Dublin Gulch while it builds its Eagle mine, which is based on the main gold deposit on the property, north of Mayo in central Yukon. Mr. McConnell, president and chief executive officer, says that the 2018 exploration program is "well under way," although the anticipated drilling may not have yet started. (He says that two drill rigs and associated equipment "are on the property and will be fully engaged" for the rest of the 2018 field season.) Victoria plans to focus its drilling at the Olive-Shamrock, Bluto, Nugget and VBW targets.

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