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India's May gold imports surge 677% to $5.83 billion
From Reuters
via The Hindu, Chennai
Monday, June 6, 2022
India's gold imports in May jumped 677% from a year ago to the highest level in a year as a correction in prices just before a key festival and wedding season boosted retail jewellery purchases, a government source said today.
Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, but the surge could increase India's trade deficit and put pressure on ailing rupee.
... Dispatch continues below ...
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Prime Mining Intercepts 62 gpt Gold and 978 gpt Silver over 3.6 Meters
in Step-Out Drilling at Guadalupe East Deposit in Mexico
Company Announcement
Wednesday, June 1, 2022
VANCOUVER, British Columbia, Canada -- Prime Mining Corp. (TSX-V: PRYM, OTCQB: PRMNF, Frankfurt: 04V3) announces additional Phase 2 drill results from 12 step-out drill holes at the Guadalupe East deposit in Mexico. Guadalupe East is one of eight known gold-silver deposits that comprise the current resource at Los Reyes.
22GE-53 has four intercepts:
-- 61.99 grams per tonne gold and 977.6 gpt silver over 3.6 meters estimated true width and 9.67 gpt gold and 314.0 gpt silver over 1.1 m estimated true width.
-- 9.67 gpt gold and 314.0 gpt silver over 1.1 meters etw.
-- 3.01 gpt gold and 220.0 gpt silver over 1.0 meter etw.
-- 5.90 gpt gold and 341.0 gpt silver over 0.7 meters etw. ...
Chief Executive Officer, Daniel Kunz commented: "The high-grade drill results reported today will continue to expand the resource potential at Guadalupe East considerably. We are encouraged by multiple intercepts of high-grade gold-silver mineralization being encountered in individual drill holes on the west end of this area. We await assay results from more step-out drill holes and expect to report these results as soon as they become available.
Ongoing drilling has now defined the Guadalupe East vein group length over 420 meters and the total strike length of the Guadalupe East vein system now over 1,000 metres.” ...
... For the remainder of the announcement:
India imported 101 tonnes of gold in May, compared to 13 tonnes a year earlier, the source said on condition of anonymity as he is not authorised to speak to media.
In value terms, May imports surged to $5.83 billion from $678 million a year ago, he said.
"Retail consumers were waiting for a price correction. As prices corrected during Akshaya Tritiya festival, they rushed to jewellery shops," said Harshad Ajmera, the proprietor of JJ Gold House, a wholesaler in the eastern Indian city of Kolkata. ...
... For the remainder of the report:
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