In case you missed it, here is this week’s resource big news roundup.
Concerns regarding the potential for global economic damage due to the coronavirus caused energy shares and equities to tumble early Friday morning. The TSX Composite Index fell 99.15 points to open the final session of the month at 17,391.41. According to market analysts, the economic damage of the coronavirus has the potential to be massive on a global scale, resulting in tentative speculation across the board. “The virus outbreak represents this unknown that, frankly, markets aren’t very good at handicapping,” David Lafferty, chief market strategist at Natixis Investment Managers in Boston, told Bloomberg. “It’s almost like an open-ended risk.” The World Health Organization (WHO) upgraded the coronavirus to a global health emergency on Thursday, underscoring the serious nature of the outbreak. The designation is designed to enable the United Nations health agency to activate financial and political support for countries fighting the outbreak.
The TSX Venture jumped up 2.14 points to open at 577.30 on Friday morning, with eight of the 12 TSX subgroups falling slightly. Gold majors including Detour Gold and Kirkland Lake Gold bucked the trend this week, gaining 4.7 percent and 4.3 percent respectively.
In case you missed it, here is this week’s resource big news roundup:
- Pistol Bay Options Out Dixie 17-20, Red Lake, Ontario
- Thunderstruck Drills 13.8 Percent Zinc, 2.94 Percent Copper over 11 Metres at its Korokayiu Copper-Zinc VMS Prospect
- Nevada Copper Engages Leading Mining Contractor Redpath for Ramp Up to Full Commercial Production
- Piedmont Lithium Reports New Spodumene Pegmatite Discoveries and Final Phase 4 Drill Results
- A.I.S. Resources Completes Peru Manganese Trade, Zambian Ores Assay 53 Percent Mn
- Canadian Palladium Signs 10,000 M Diamond Drill Contract
- Guyana Goldstrike Signs US$9 Million Gold Forward Purchase Agreement
- Sirios Files the 43-101 Report of the Resources Estimate for the Cheechoo Gold Project in Quebec
- QMX Intersects Strong Initial Results from the River Target; 39.8 g/t Gold Over 2.0 Metres and 17.71 g/t Gold Over 4.0 Metres
- Goldspot Discoveries AI-Targeted Drilling Discovers New Zone Containing 19.0m of 92.86 g/t Gold in Newfoundland, Canada