- Published: 18 July 2017
- Written by Investor Ideas
Point Roberts, WA, July 17, 2017 --Investorideas.com, a global news source covering leading sectors including mining stocks issues a sector snapshot for gold stocks and ETF’s for the close of Friday, July 14th. Gold stocks and ETF’s got a boost on Friday as gold prices hit their highest finish for July and saw the first weekly rise since early June.
Gold moved following the release of weak U.S. inflation and retail sales data.
Read this news in full at http://www.investorideas.com/news/2017/mining/07171Stocks.asp
The VanEck Vectors Gold Miners ETF (GDX) closed Friday at 21.83 up 0.33 (1.53%). Juniors got a bump as well and the VanEck Vectors Junior Gold Miners ETF (GDXJ) closed at 32.38, up 0.49 (1.54%). The SPDR Gold Shares (GLD) also realized gains for the day closing at 116.79, up 0.97 (0.84%).
Pershing Gold Corporation (NASDAQ:PGLC), (TSX: PGLC), (FWB: 7PG1) had trading ranging on Friday from $2.72 to a high of $2.81 on NASDAQ and closed at $3.53, up 0.03 (0.86 %) on the TSX. The company recently released a Preliminary Feasibility Study (PFS) on the company’s Relief Canyon Mine. Highlights from the PFS include a pre-tax net present value ("NPV") of $144.6 million, an internal rate of return ("IRR") of 89% and Net Cash Flow of $192.7 million. This NPV, IRR and Net Cash Flow assume pre-tax economics using $1,250 per ounce ("/oz") of gold ("Au"), $16.75/oz of silver ("Ag") and a 5% discount rate.
Pershing Gold is an emerging gold producer whose primary asset is the Relief Canyon Mine in Pershing County, Nevada. Relief Canyon includes three historic open-pit mines and a state-of-the-art, fully permitted and constructed heap-leach processing facility. Pershing Gold is currently permitted to resume mining at Relief Canyon under the existing Plan of Operations.
Pershing Gold's landholdings cover approximately 25,000 acres that include the Relief Canyon Mine asset and lands surrounding the mine in all directions. This land package provides Pershing Gold with the opportunity to expand the Relief Canyon Mine deposit and to explore and make new discoveries on nearby lands.
Barrick Gold Corporation (ABX.TO) closed at $20.22, up $0.24 (1.20 %) on the TSX and closed at $15.99, up $0.28 (1.78%) on the NYSE (ABX). Another big player in Nevada, Barrick is an integrated gold mining operation that combines the Cortez and Goldstrike properties in Nevada, employing a total of 3,000 employees and 800 contractors. The operation utilizes both open pit and underground mining methods and hosts a range of processing facilities including heap leaching, roasting, autoclaving, conventional leaching and thiosulfate (cyanide-free) leaching. Barrick is one of the top holdings of the VanEck Vectors Gold Miners ETF (GDX) currently at 10.20%.
Newmont Mining Corp is the second largest holding of the VanEck Vectors Gold Miners ETF (GDX) currently at 9.49%. Newmont Mining Corporation (NEM) closed Friday at $33.30, up $0.36 (1.09%). Newmont owns or controls approximately 2.8 million acres in Nevada and their Nevada operations account for approximately one-third of Newmont's worldwide gold production.
About Investorideas.com - News that Inspires Big Ideas www.investorideas.com
Investorideas.com is a meeting place for global investors, featuring news, stock directories, video, podcasts, company profiles, interviews and more in leading sectors.
Sectors we cover in include tech, bitcoin and blockchain , biotech, mining, energy, renewable energy, water stocks, marijuana and hemp stocks, food and beverage (including organic and LOHAS, wine), defense and security including biometrics, Latin America, sports, entertainment, luxury brands and gaming.
Pershing Gold Corporation (NASDAQ:PGLC) (TSX: PGLC) is a featured mining company on Investorideas.com: Visit company profile http://www.investorideas.com/CO/PGLC/
Get a full list of gold and mining stocks at Investorideas.com: http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Disclosure: Pershing Gold Corporation (NASDAQ: PGLC) (TSX: PGLC) is a paid PR, media and news client effective June 2017 for 2 months
Contact Investorideas.com
800 665 0411
Gold-MiningStocks.com - investing ideas in gold and mining stocks
Like Gold Stocks? View our Gold / Mining Stocks Directory
Follow MiningStockIdea on Twitter
Join our Gold and Mining Stocks Group on Linkedin
