Lots of merger and acquisition news out this morning on the back of TMAC news from Friday. SSR Mining and Alacer Gold announced they have entered into a definitive agreement to combine in an at-market merger of equals. Adriatic Metals announced they have a binding letter agreement to acquire all the issued share capital of Tethyan Resource Corp. Gran Colombia Gold announced it has signed a definitive agreement to complete a business combination with Gold X Mining and then, in combination, acquire all of Guayana Goldfields issued and outstanding shares. Exploration news from MacDonald Mines and Galway Metals. A new NSR for SolGold via Franco-Nevada.
Read MoreThe mining stocks on Thursday were boosted by both the jump in gold and silver and, just as significant, an unexpectedly big earnings estimate beat by Agnico Eagle Mines. Yamana Gold released their production numbers yesterday. Auryn Resources shared results from its seven-hole drill program at Committee Bay. Nexus Gold gave an update yesterday on its plan for the proposed November drill program at its Dakouli 2 gold concession in Burkina Faso.
Read MoreThe gold price weathered an attempt to take the price lower, bottoming at $1494 on a December contract futures basis before shooting higher after the London a.m. price fix and closing the day trading on Tuesday at $1510. We have new drill results and exploration news today from Gold Standard Ventures, Crystal Lake Mining, SilverCrest, Pure Gold, and Wallbridge Mining.
Read MoreThe price of gold crashed through its 50 day moving average to close Monday at $1472, futures basis. Silver also plunged below its 50 day moving average to close at $17 even. Liberty Gold shared some new drilling results this morning from its Black Pine project in southern Idaho. Pure Gold Mining says ongoing drilling along the Madsen Red Lake Mine Trend has added 530 metres of mineralized strike length to the Wedge Zone, expanding the deposit footprint by 85% and continuing the rapid progression of this zone. Eastmain Resources, Azimut Exploration and Newmont Goldcorp shared results from 26 drill holes completed during the late fall of 2018 and winter 2019 drilling program at the Éléonore South Joint Venture property. Contact Gold announced that it optioned its Cobb Creek gold project in Nevada's Cortez Trend to Fremont Gold.
Read More