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Gold Summary for May 3, 2024

2024-05-03 21:35 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $2.10 to $2,301.20 on Friday. The TSX Venture Exchange rose 1.28 points to 581.70 while the TSX gold index dropped 0.69 point to 311.09. First Quantum Minerals Ltd. (FM) was strong today despite having nothing new to say. It rose $1.80 to $18.58 on 9.55 million shares on faint hints of hope from Panama, which forced the company's lucrative Cobre Panama copper and gold mine to close last fall. Aris Mining Corp. (ARIS) went the other way, also in silence. It fell 15 cents to $5.62 on 696,000 shares.

Jeremy Poirier's Nexus Uranium Corp. (NEXU) lost three cents to 53 cents on 70,000 shares on word that its interest in the Independence gold project in Nevada has inched upward to 51.11 per cent from 51 per cent, as the company's private co-venturer, Don McDowell's Reno-based Americas Gold Exploration Inc., failed to meet a first quarter cash call. (Mr. McDowell became a director of Mr. Poirier's company around the time it was acquiring an option on Independence from Americas Gold, but he left two years ago when what had been Golden Independence Mining adopted its current Nexus moniker.)

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