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by Stockwatch Business Reporter
New York spot gold fell $10.50 to $1,869.50 on Wednesday. The TSX-V slid 11.85 points to 726.38 while the TSX gold index lost 12.45 points to 323.81. Newmont Corp. (NGT) led the retreat, dropping $4.08 to $80.34 on 319,000 shares. The stock had a good run, surging from $40 in the spring of 2019 to over $96 this spring, but lately the gains have been harder to come by. Newmont had a record third quarter, earning $856-million (U.S.), but word today that the company will reveal its 2021 guidance in three weeks helped give investors the jitters.
Paul Andre Huet's Karora Resources Inc. (KRR) jumped 12 cents to $3.45 on 2.61 million shares on word that it has drilled a 19-metre interval averaging 29.8 grams of gold per tonne at its Spargos Reward project, just west of its Beta Hill mine in Western Australia. The grade got a healthy boost from a five-metre interval that averaged 99.5 grams per tonne. These first results from a 12,000-metre drill program include several other promising hits, including 27.3 grams per tonne across 15 metres and 29.8 grams per tonne over three metres.
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