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Monarques Gold $MQR.ca announces a custom milling contract with Nottaway Resources for at least 180,000 tonnes of ore $GDX.ca $MCE.ca

Posted by AGORACOM-JC at 9:22 AM on Thursday, December 7th, 2017

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  • Announced that it has entered into a custom milling contract with Nottaway Resources Inc to process ore from the Vezza mine at the Camflo mill
  • Contract covers at least 15,000 tonnes of ore per month, for at least 180,000 tonnes in 2018

The Camflo mill will process the ore from the Vezza mine

MONTREAL, Dec. 7, 2017  – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has entered into a custom milling contract with Nottaway Resources Inc. (“Nottaway”) to process ore from the Vezza mine at the Camflo mill. The contract covers at least 15,000 tonnes of ore per month, for at least 180,000 tonnes in 2018.

“We are delighted to have Nottaway Resources as a new client for 2018,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “This contract will provide us with stable revenue flow from the Camflo mill in 2018 and fits perfectly with our goal of increasing the profitability of our operations.”

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation’s qualified person under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Monarques Gold Corporation

‘New normal’ of geopolitical risk likely to boost #gold prices in coming years, Citi $C forecasts $AMK.ca $EXS.ca $GGX.ca $GR.ca $MQR.ca

Posted by AGORACOM-JC at 12:09 PM on Monday, November 20th, 2017
  • The geopolitical case for gold investment has been emboldened in recent months and it seems as strong today than at any point over the last four decades, Citi analysts said
  • Investors tend to move into safe-haven assets such as gold, the Swiss franc and the Japanese yen in times of geopolitical turmoil
  • Elections and political votes, military attacks and macroeconomic crises were recognized by Citi as some of the key geopolitical events likely to influence investment into gold

Jeffrey Coolidge | Getty Images

Gold prices are likely to be buoyed by the “new normal” of elevated geopolitical tensions over the coming years, Citi analysts said Monday.

The geopolitical case for gold investment has been emboldened in recent months and it seems as strong today than at any point over the last four decades, Citi analysts said. As a result, gold prices were forecast to “push north of $1,400 per ounce for sustained periods” through to 2020.

Elections and political votes, military attacks and macroeconomic crises were recognized by Citi as some of the key geopolitical events likely to influence investment into gold. And while analysts said there was not a consistent pattern for gold price performance amid such times of global uncertainty, prices were seen to have rallied more frequently during these periods.

Investors tend to move into safe-haven assets such as gold, the Swiss franc and the Japanese yen in times of geopolitical turmoil as traditional assets such as stocks and bonds are often perceived as a more volatile investment.

‘Huge downside risk’

“Event-driven bids for gold seem to be occurring more frequently and may be the new normal… In short, even as the rates and forex channel dominate the outlook for gold pricing, the yellow metal is increasingly being used by investors as a policy and tail risk hedge,” Citi said.

Citi projected gold prices are on track to notch levels of $1,270 per ounce by the end of 2018, before climbing to around $1,350 per ounce and $1,370 per ounce over the next two calendar years.

“Philosophically everyone wants gold, it should always be safe but there is huge downside risk,” Nandini Ramakrishnan, global markets strategist at JPMorgan, told CNBC Monday.

Ramakrishnan said gold prices had witnessed “massive moves akin to the equity market,” before adding that investors should treat the commodity with caution.

Gold is highly sensitive to U.S. interest rate hikes, as such moves increase the opportunity cost of holding non-yielding bullion, while supporting the dollar — in which the commodity is priced.

Spot gold edged 0.2 percent lower to $1,290 per ounce on Monday morning. The yellow metal is up 12 percent since the start of the year.

Sam MeredithDigital Reporter, CNBC.com
Source: https://www.cnbc.com/2017/11/20/new-normal-of-geopolitical-risk-likely-to-boost-gold-prices-in-coming-years-citi-forecasts.html

Wallbridge $WM.ca announces a custom milling contract with Monarques Gold $MQR.ca for 35,000-tonne bulk sample from Fenelon #Gold property

Posted by AGORACOM-JC at 9:34 AM on Tuesday, November 14th, 2017

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  • Monarques will process the 35,000-tonne bulk sample ore from the Fenelon Gold property, located 75 km west-northwest of Matagami, Quebec, at its Camflo mill.

TORONTO, Nov. 14, 2017 – Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (“Wallbridge“) is pleased to announce that progress toward mining of a bulk sample at its Fenelon Gold property has taken a significant step forward with the signing of a custom milling contract with Monarques Gold Corporation (“Monarques”) (TSX.V:MQR) (FRANKFURT:MR7).

Monarques will process the 35,000-tonne bulk sample ore from the Fenelon Gold property, located 75 km west-northwest of Matagami, Quebec, at its Camflo mill.

“The signing of this toll milling contract is a major milestone in our plans for an underground bulk sample to assess the nature of high-grade gold mineralization and to drill for expansion of the resource at the Fenelon Gold property,” said Marz Kord, Wallbridge President and CEO, “Importantly, the Camflo mill is familiar with the characteristics of processing Fenelon Gold ore. This is the same mill which processed previous bulk samples from Fenelon Gold in 2001 and 2004 with recoveries in excess of 97% at head grades of over 10 grams per tonne.”

The Qualified Person responsible for this press release is Marz Kord, P.Eng., M.Sc., MBA, President & CEO for Wallbridge Mining Company Limited.

About Wallbridge Mining

Wallbridge is establishing a pipeline of projects that will support sustainable production and revenue as well as organic growth through exploration and scalability.

Wallbridge is currently preparing to develop its 100%-owned high-grade Fenelon Gold Property in Quebec with ongoing exploration and a bulk sample targeted to start in 2017. Wallbridge is also in discussions regarding several other advanced stage projects which could become the Company’s next mines.  These discussions benefit from the operating capabilities Wallbridge demonstrated by safely and efficiently mining the Broken Hammer deposit in Sudbury, which was completed in October 2015.  Wallbridge is also continuing partner-funded exploration on its large portfolio of nickel, copper, and PGM projects in Sudbury, Ontario, with a focus on its high-grade Parkin project.

Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia through its 12.7% ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene Resources Limited).

This press release may contain forward-looking statements (including “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the operations of Wallbridge and the environment in which it operates. Generally, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Wallbridge has relied on a number of assumptions and estimates in making such forward-looking statements, including, without limitation, the costs associated with the development and operation of its properties. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual results, level of activity, performance or outcomes of such exploration and/or mine development to be materially different from those expressed or implied by such forward-looking statements including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans continue to be refined, the ability to execute planned exploration and future drilling programs, the need for additional funding to continue exploration and development efforts, changes in general economic, market and business conditions, and those other risks set forth in Wallbridge’s most recent annual information form under the heading “Risk Factors” and in its other public filings. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Wallbridge. Although Wallbridge has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof.

Wallbridge disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. The forward-looking statements contained herein are expressly qualified by this disclaimer.

SOURCE Wallbridge Mining Company Limited

View original content with multimedia: http://www.newswire.ca/en/releases/archive/November2017/14/c1153.html

Please visit the Company’s website at www.wallbridgemining.com or contact: Wallbridge Mining Company Limited, Joshua Bailey, P.Geo., M.Sc., MBA, Vice President Exploration, Tel: (705) 682-9297 ext. 240, Email: jbailey@wallbridgemining.com; David Ellis, Investor Relations, Tel: (416) 704-0937, Email: dellis@wallbridgemining.comCopyright CNW Group 2017

Monarques Gold $MQR.ca files a technical report for its Wasamac #Gold project

Posted by AGORACOM-JC at 11:53 AM on Wednesday, November 1st, 2017

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  • Filed National Instrument 43-101 technical report for its wholly owned Wasamac gold project
  • Located 15 km west-southwest of Rouyn-Norand

MONTREAL, Nov. 1, 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V:MQR) (FRANKFURT: MR7) is pleased to announce that it has filed on SEDAR a National Instrument 43-101 technical report for its wholly owned Wasamac gold project located 15 km west-southwest of Rouyn-Noranda, Québec. Monarques published a press release on October 26, 2017 (see release), which summarized the assumptions and key results contained in the technical report. There are no material differences between the assumptions and estimates contained in Monarques’ press release dated October 26, 2017, pertaining to this property, from those contained in the technical report that was filed. Monarques also added the technical report on its website (see report).

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,200 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Monarques Gold Corporation

Monarques Gold $MQR.ca reports 2.6 million ounces in measured and indicated resources on the Wasamac #Gold project

Posted by AGORACOM-JC at 5:14 PM on Thursday, October 26th, 2017

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  • An updated mineral resource estimate on the Wasamac gold project indicates a Measured and Indicated resource of 2,587,900 ounces and an Inferred resource of 293,900 ounces, as the bulk of the previous Inferred resource has been upgraded to the Indicated category.
  • Drilling to date shows that the Main Zone is open to the east and at depth. Zones 2 and 3 are also open at depth.
  • Monarques Gold will plan an exploration program aimed at increasing the Wasamac resource.

MONTREAL, Oct. 26, 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V: MQR) (FRANKFURT: MR7) is pleased to report the results of an updated mineral resource estimate for its wholly-owned Wasamac gold project located 15 km west-southwest of Rouyn-Noranda, Québec. The estimate was prepared by Tudorel Ciuculescu, M.Sc., P. Geo., Senior Geologist for Roscoe Postle Associates Inc. (RPA) and a qualified person as defined by NI 43-101. The effective date of the estimate is October 20, 2017.

“The outcome of the estimate is great news for Monarques, as the bulk of the previous Inferred resource has been upgraded to the Indicated category based on infill drilling,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “This is also an important step towards our goal of advancing the development of our Wasamac gold project. With our latest acquisition, which includes the Beaufor mine and the Camflo mill, we have become a fully integrated gold producer and now have the team and the resources to reach this goal. The Wasamac gold project is an important part of the future of Monarques and we intend to bring it to its full potential.”

Based on a cut-off grade of 1.0 g/t Au, RPA estimated a resource of 3.99 million tonnes at an average grade of 2.52 g/t Au for 323,300 ounces in the Measured category, and 25.87 million tonnes at an average grade of 2.72 g/t Au for 2,264,500 ounces in the Indicated category. An additional 4.16 million tonnes grading an average grade of 2.20 g/t Au for 293,900 ounces were estimated in the Inferred category. The cut-off grade is based on a gold price of US $1,500 per ounce and assumed operation costs.

The database includes 3,317 holes drilled for various purposes on the property and surrounding area from the 1940s to 2012. Of these, 2,016 holes were used for the resource estimate. The resource holes consist of 288 surface holes with a total length of 122,781 m and 24,613 samples (24,401 m sampled) and 1,728 underground holes with a total length of 36,842 m and 24,018 samples (32,148 m sampled).

Notes:

 

  1. CIM definitions for mineral resources were used.
  2. Mineral resources were estimated at a cut-off grade of 1.0 g/t Au.
  3. Mineral resources were estimated using a gold price of US$ 1,500 per ounce and an exchange rate of US $0.80 = C $1.00.
  4. A minimum mining width of four metres was used.
  5. A bulk density of 2.8 g/cm³ was used.
  6. Numbers may not add due to rounding.

Gold mineralization is hosted in a number of zones located along the Wasa Shear Zone (WSZ), namely, from west to east, the Main Zone, Zone 1, Zone 2, Zone 3, the MacWin Zone and Zone 4 (see map). The Wildcat Zone occurs off the WSZ to the south of the Main Zone. Historical production from 1965 to 1971 was predominantly from the Main Zone and the upper portion of Zone 1, with a limited tonnage extracted from the Wildcat Zone. Zone 2 was partially developed but was not mined. A total of 252,923 ounces of gold were produced at Wasamac.

The estimate was supported by a block model and was constrained with mineralized wireframes capturing mineralized intercepts with a nominal grade of 1.0 g/t Au over a minimum thickness of four metres.  Erratic higher-grade samples were capped at 35 g/t Au prior to compositing to two metre intervals. Block gold grade was estimated using an inverse-distance-to-the-power-three (ID3) interpolation method.

The new mineral resource estimate reflects a number of changes, including additional drilling, the exclusion of mineralization previously considered as resources, the addition of new resources, a lower cut-off grade, and the upgrading of Inferred mineral resources to the Indicated category.

The Wasamac property is near a major mining centre in a mining-friendly jurisdiction and benefits from significant infrastructure, including underground openings that could be redeveloped, road access, access to the provincial power grid, and a restored tailings disposal area.

RPA is of the opinion that the Wasamac property hosts a significant gold deposit and that the project has good exploration potential that warrants additional exploration and technical studies.

The 43-101 technical report will be delivered and filed on SEDAR within the next 45 days.

Recommended work program

Phase I:

  • Exploration potential study to determine the minimum grade, thickness, and tonnage for new targets
  • Drill hole targeting exercise to optimize future drilling programs, with the objective of upgrading areas of Inferred resource to the Indicated category and extending the mineral resource to areas that remain open
  • Investigation into the Horne Creek Fault and its potential control on the Wasamac deposit
  • Testing of advanced 3D modelling techniques based on the current database
  • GIS database compilation of all available and relevant data

Phase II:

  • Contingent on the results of Phase I: 20,000-metre diamond drilling program focused on bringing the mineral resource estimate to the point where it could support the preparation of a preliminary economic assessment.

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation’s qualified person under National Instrument 43‑101, and by Tudorel Ciuculescu, M.Sc., P. Geo., Senior Geologist for Roscoe Postle Associates Inc. (RPA) and a qualified person as defined by NI 43-101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,200 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Monarques Gold $MQR.ca announces the first #gold pour at the Beaufor mine since its acquisition #PRODUCER

Posted by AGORACOM-JC at 9:02 AM on Thursday, October 26th, 2017

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  • Poured its first gold bar from the Beaufor mine ore since acquiring the mine on October 2, 2017.
  • The gold bar weighs 756 ounces (23.5 kg)
  • “Today Monarques marks a major milestone in its history as it joins the coveted status of gold producers,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques.

MONTREAL, Oct. 26, 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V:MQR) (FRANKFURT: MR7) is pleased to announce that it has poured its first gold bar from the Beaufor mine ore since acquiring the mine on October 2, 2017. The gold bar weighs 756 ounces (23.5 kg).

“Today Monarques marks a major milestone in its history as it joins the coveted status of gold producers,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Since acquiring the assets of Richmont Mines in Quebec, we have worked hard to optimize the Beaufor Mine’s performance, including signing custom milling contracts so that the Camflo mill may operate at full capacity. Our main goal for the Beaufor Mine is to restore the mine’s profitability and extend its life.”

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation’s qualified person under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,200 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Monarques Gold Corporation

Are you an investor in Richmont Mines $RIC.ca ? Check out the recent acquisition by Monarques $MQR.ca

Posted by AGORACOM-JC at 4:17 PM on Monday, October 23rd, 2017

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Why Monarques Gold?

  • A gold producer with the Beaufor Mine (gold production of 19,562 ounces in 2016; source Richmont 2016 annual report)
  • Located in one of the best mining jurisdictions in Canada.
  • A large portfolio of mining assets, including the Beaufor Mine, two mills (Camflo and Beacon), two advanced projects (Wasamac and Croinor Gold) and eight exploration projects covering more than 240 km2 in the Abitibi region.
  • Upside potential and leverage to the gold price with the Wasamac project.
  • NI 43-101 proven and probable reserves of 162,790 ounces of gold, measured and indicated resources of 1.76 million ounces and inferred resources of 1.67 million ounces (see table below).
  • Over 150 highly experienced, qualified employees will join the Monarques team.
  • A strong financial position, with over $12 million in cash and cash equivalents.

Monarques Gold $MQR.ca buys back royalty on the Wasamac property from Globex $GMX.ca

Posted by AGORACOM-JC at 10:30 AM on Wednesday, October 18th, 2017

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  • Announced that Globex Mining Enterprises Inc. has purchased the 1.5% Net Smelter Royalty (NSR) applicable to Globex’s wholly-owned Francoeur/Arntfield gold property
  • As consideration for the royalty, Globex made a $25,000 cash payment to Monarques and cancelled a 0.5% NSR payable by Monarques to Globex on 11 claims located on the eastern portion of Monarques’ Wasamac gold property

MONTREAL, Oct. 18, 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to announce that Globex Mining Enterprises Inc. (“Globex”) (TSX: GMX) has purchased the 1.5% Net Smelter Royalty (NSR) applicable to Globex’s wholly-owned Francoeur/Arntfield gold property. As consideration for the royalty, Globex made a $25,000 cash payment to Monarques and cancelled a 0.5% NSR payable by Monarques to Globex on 11 claims located on the eastern portion of Monarques’ Wasamac gold property. In addition, Globex has extended Monarques’ right to store Wasamac core at Globex’s Francoeur Mine site to June 30, 2019.

“As part of our strategy to control costs, this agreement will reduce any future royalty payments on our Wasamac property,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “The agreement also allows us to lock in short-term cash on the Globex royalty and savings for our Wasamac project.”

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,200 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Monarques Gold Corporation

#Gold rises, tries to regain grip on $1,300 level, bodes well for $AMK.ca $EXS.ca $GGX.ca $GR.ca $GZD.ca $MQR.ca

Posted by AGORACOM-JC at 9:37 AM on Thursday, October 12th, 2017

Silver futures up 12 cents, or 0.7%

 

Gold on the rise.

  • Gold futures rose Thursday, pushing the yellow metal toward $1,300 as investors read minutes from the Federal Reserve’s September policy meetings as slightly dovish
  • Offering a lift to the commodity
  • December gold GCZ7, +0.43% was $8.80, or 0.7%, higher at $1,297,
  • Flirting with its highest settlement since Sept. 26 at $1,301.70, according to FactSet data.

An account of the most recent meeting of the Federal Open Market Committee, released after gold futures settled on Wednesday, showed signs that policy makers questioned the need for an interest-rate hike in December—though one appears likely—as levels of inflation continued to track below the central bank’s 2% annual target.

Although the market’s reaction was relatively subdued, the minutes suggest that Chairwoman Janet Yellen and other policy makers will increase interest rates once more in December, but that efforts to normalize policy will otherwise run at a gradual pace.

A measured rate of interest-rate increases can be supportive for gold, which doesn’t offer a yield. Wall Street is pricing in an 83% chance of a rate increase in December, compared with a nearly 88% probability the day before, according to CME Group data.

Meanwhile, a popular dollar gauge, the ICE U.S. Dollar Index DXY, +0.19% was trading flat at 93.029. Gold prices are on track to climb for four of the past five sessions, as the dollar has weakened 0.8% over the week. A softer buck can make commodities priced in the currency more appealing to buyers using weaker monetary units.

Elsewhere, silver for December delivery SIZ7, +0.30% added 12 cents, or 0.7%, to trade at $17.255 an ounce, and is on track to rise five of the past six sessions. The silver-focused ETF, the iShares Silver Trust SLV, -0.18% was little changed.

Mark O’Byrne, research director at GoldCore Ltd, said recent gains can also be attributed to expected seasonally stronger demand for gold by India heading into the Diwali holiday, or Deepavali, as well as geopolitical tensions tied to North Korea, the Middle East and U.S. President Donald Trump. Tensions between Iraq and Kurds in the region have escalated after a Kurdish independence referendum, while Trump’s belligerent rhetoric with North Korean leader Kim Jong Un has had investors on edge.

“Against this global macro backdrop, I do think that we possible we will push $1,400 [an ounce], and then close above $1,300 by year-end,” he said.

Source: http://www.marketwatch.com/story/gold-rises-tries-to-regain-grip-on-1300-level-2017-10-12

INTERVIEW: Monarques $MQR.ca Discusses Acquisition of Richmont Mines $RIC Assets in Quebec, Becoming a #Gold Producer

Posted by AGORACOM-JC at 9:17 AM on Wednesday, October 11th, 2017