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Gold Summary for Oct. 9, 2024

2024-10-09 18:45 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $13.30 Wednesday, closing at $2,607.90. The TSX Venture Exchange rose 3.23 points to 590.84 while the TSX gold index added 0.51 point to 364.40. Most Canadian gold listings moved little, but there were several noteworthy exceptions. Orezone Gold Corp. (ORE) fell five cents to 72 cents on 371,000 shares and Aura Minerals Inc. (ORA) tagged along, dropping 71 cents to $15.02 on 41,000 shares -- neither move driven by news. Lundin Mining Corp. (LUN) had a good day without news, as it added 31 cents to $14.16 on 3.69 million shares.

Darren Blasutti's Americas Gold & Silver Corp. (USA) had an even better day. It added 8.5 cents to 52 cents on 3.24 million shares on word that it has an arrangement to acquire the 40-per-cent minority interest in its Galena Complex project in Idaho. To do so, the company will pay $10-million (U.S.) in cash and issue 170 million shares to an affiliate company of Eric Sprott and Paul Andre Huet. Americas is also selling 100 million shares at 40 cents apiece, which would raise $44-million if the greenshoe option is exercised.

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