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by Stockwatch Business Reporter

New York spot gold took a pause Tuesday afternoon at $4,302.80, down $1.50 on the day. The TSX Venture Exchange fell 9.30 points to 935.57 while the TSX gold index lost 6.19 points to 805.13. Endeavour Mining PLC (EDV) jumped 41 cents to $67 on 1.36 million shares in silence today, but equally mum Americas Gold and Silver Corp. (USA) shed 37 cents to $7.64 on 2.04 million shares.

Zach Flood's Kenorland Minerals Ltd. (KLD) jumped 22 cents to $2.72 on 245,000 shares on word of a maiden resource estimate covering the Regnault deposit on the Frotet project, 100 kilometres north of Chibougamau in north-central Quebec. The calculation, prepared by the project owner, Sumitomo Metal Mining Canada Ltd., lists 14.5 million tonnes inferred at 5.47 grams of gold and 5.18 grams of silver per tonne, a total of 2.55 million ounces of gold and 2.41 million ounces of silver.

And why does Kenorland care, you ask? Well, it was once the owner. Several years ago, the company granted Sumitomo an option to earn an 80-per-cent interest in the project -- which it did. Early in 2024, Kenorland converted its remaining 20-per-cent interest in Frotet into a 4-per-cent net smelter return royalty, with Sumitomo able to buy back a 0.25-per-cent sliver for $3-million and a further 0.5-per-cent fraction for $10-million.

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