Gold Summary for Feb. 26 2018

by Stockwatch Business Reporter

New York spot gold gained $4.70 to $1,332.90 on Monday. The TSX Venture Exchange gained 0.78 point to 826.87 while the TSX Gold Index rose 1.97 points to 184.56. Torex Gold Resources Inc. (TXG) slid 65 cents to $10.51 on 850,000 shares. The company had to douse more flames of misinformation today regarding its beleaguered El Limon-Guajes mine in Guerrero, Mexico. The company says that its land lease agreement is in good standing, not withstanding rumours to the contrary, adding that a small group of families in the area are "trying to extort the company" in concert with a rogue union. Fred Stanford, president and chief executive officer, says that he, his company and his workers "will not be intimidated" into renegotiating fair and lucrative contracts.

George Faught and Philip Walford's Marathon Gold Corp. (MOZ), up nine cents to $1 on 662,000 shares, has received assays of up to 7.27 grams of gold per tonne across five metres, including a one-metre zone that averaged 27.06 grams per tonne. The assays are from four holes drilled in a bog-covered area between the Marathon and Sprite deposits, two of four deposits on the company's Valentine Lake gold project in central Newfoundland. All four holes encountered gold augmented by higher-grade subintervals. A second hole returned 6.13 grams per tonne across three metres and a third yielded 1.23 grams per tonne over 12 metres.

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