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Gold Summary for May 27, 2024

2024-05-27 18:11 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold regained $17.40 on Monday, closing at $2,350.70. The TSX Venture Exchange edged lower, dipping 1.54 points to 606.41, while the TSX gold index gained 2.49 points to 327.58. Most gold miners listed in Canada had an up day. Endeavour Silver Corp. (EDV) added 29 cents to $5.43 on 691,000 shares while Gatos Silver Inc. (GATO) rose 25 cents to $16.25 on 4,000 shares. Meridian Mining UK Societas (MNO) went the other way, dipping two cents to 55 cents on 133,000 shares.

Oh no, not another one. Mike England's MacDonald Mines Exploration Ltd. (BMK) said after the close Friday that it has "discovered inconsistencies in certain assay results" from its Scadding gold prospect -- assays that had been previously publicly announced by press releases and perhaps in other disclosure documents. A detailed review is under way, sighs Mr. England, interim chief executive officer. He does not say -- yet -- when the assays with inconsistencies were revealed, although he does offer a technical report filed in the fall of 2019 as a possibly affected disclosure document.

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