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by Stockwatch Business Reporter
New York spot gold fell $5.50 to $1,868.50 on Thursday. The TSX Venture Exchange dropped 5.78 points to 528.87 while the TSX gold index dipped 2.57 points to 264.11. Most Canadian gold miners moved lower today. Paul Huet's Karora Resources Inc. (KRR) ended a four-session run that carried its stock to $4.12 from $3.60, falling 18 cents to $3.89 on 458,000 shares today. The company said yesterday that it had produced nearly 40,000 ounces of gold in the third quarter, putting it on pace to hit the upper end of its 2023 production guidance.
Jody Kuzenko's Torex Gold Resources Inc. (TXG) was another laggard. It fell $1.29 to $13.44 on 602,000 shares. Torex also had news late yesterday, cheering that it produced over 85,000 ounces of gold in its third quarter and "remains on track" to achieve annual production guidance of 440,000 to 470,000 ounces. With current production just shy of 316,000 ounces for the year, Torex will need a strong fourth quarter to hit the low end of its forecast.
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