04:14:43 EST Fri 28 Jan 2022
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Gold Summary for Jan. 12, 2022

2022-01-12 19:37 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $5.20 to $1,826.90 on Wednesday. The TSX-V rose 12.85 points to 923.52 while the TSX gold index added 2.28 points to 285.48. There were plenty of gainers among Canadian gold miners today, including Victoria Gold Corp. (VGCX), which added 38 cents to $14.90 on 354,000 shares.

Renaud Adams's New Gold Inc. (NGD) produced nearly 419,000 ounces of gold equivalent last year thanks to a strong fourth quarter that allowed it to "meet our updated consolidated gold equivalent production guidance," says Mr. Adams, president and chief executive officer. By "updated," he means "reduced," and by "meet," he means came in at the lower end of the 405,000 to 450,000 revised forecast. Mr. Adams says that he and his crew "continued to execute on our plans" and the market chose not to summarily execute the company's stock: New Gold added 12 cents to $2.13 on 4.28 million shares today.

Party hats and kazoos remained stowed at Don Charter's Iamgold Corp. (IMG) today. It fell 12 cents to $3.60 on 3.41 million shares on word of a "leadership transition" -- transition in the sense that Gordon Stothart abruptly resigned as president, CEO and a director today, leaving Daniella Dimitrov, chief financial officer and executive vice-president of strategy and corporate development, to add his titles to her already overworked business card.

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