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Gold miners glitter as spot price nears 9-year high
By Neil Hume
Financial Times, London
Monday, July 6, 2020
Gold miners' share prices are soaring with the value of the precious metal, while increased dividends are helping push these stocks higher still.
The spot price of gold has risen 17 percent so far this year and is closing in on $1,800 an ounce for the first time in nine years. The commodity, commonly treated as a reliable store of value by investors, has benefited from nerves over the spread of Covid-19 and the outlook for global trade -- and rock-bottom yields available on other haven assets.
... Dispatch continues below ...
Enduro Metals Reports Drill Intercept Cut
144 metres of 3.18 g/t Gold; Identifies
Additional Gold Targets at Newmont Lake
in British Columbia's Golden Triangle
Company Announcement
Monday, July 6, 2020
KELOWNA, British Columbia Canada -- Enduro Metals Corp. (TSXV: ENDR; OTC: SIOCF; FSE: SOG-FF), formerly Crystal Lake Mining, is pleased to report drill results as part of the ongoing exploration program on the company's 551-square-kilometer Newmont Lake Project in the heart of British Columbia's Golden Triangle.
These results are from previously unsampled drill core by a previous operator whose focus was on narrow high-grade intersects, with the result that only a portion of the core was previously sampled. Infrastructure in the region has greatly improved, including power and road access now within 16 kilometers, leading to a dramatic change in the approach to exploration and potential development at Newmont Lake.
An ongoing comprehensive technical review of the project recently identified three gold mineralization styles associated with the 20-kilometer-long McLymont Fault, one of multiple target areas within the Newmont Lake Project. The study determined that previous operators did not identify all gold mineralization styles, and as a result only 19 percent of the total drill core has been assayed to date. ...
... For the remainder of the announcement:
https://endurometals.com/enduro-metals-reports-drill-intercept-cut-144-m...
Gold stocks have done even better, however, up 23 percent this year as measured by the NYSE Arca Gold Miners index. Standout performers include Canada's Kinross Gold and Barrick Gold, and U.S.-based Newmont Corp., all up at least 40 percent so far in 2020.
The primary market is also vibrant. Recent share sales by South Africa's Harmony Gold and Polymetal, a London-listed miner with assets in Russia and Kazakhstan, were completed in double-quick time, with the books covered in 20 minutes, according to bankers working on the deals. ...
... For the remainder of the report:
https://www.ft.com/content/5352324a-ac7e-46ab-9e4c-22af174e804e
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