The violence is bad news for all area explorers. Tarsis Resources Ltd. (TCC: $0.025), Minaurum Gold Inc. (MGG: $0.06), Guerrero Ventures Inc. (GV: $0.06), Newstrike Capital Inc. (NES: $0.96) and Goldcorp all have projects contiguous to Torex's Morelos. Goldcorp is the only one, however, that is in production. Its Los Filos gold mine is expected to produce 290,000 ounces of gold this year, as the company focuses on, "continued management of community and security risks." It built a Los Filos landing strip to avoid transporting its bullion by road. The mine had a horrible 2014, producing only 258,000 ounces of gold, down from an aimed-for 350,000. Goldcorp blamed a group of communal farmers who blockaded the mine site for one month, demanding more money in land rental fees. They wanted $9-million a year, up from $3.75-million. Goldcorp ended up agreeing to $6-million.
Gold Summary for Feb. 13, 2015
2015-02-13 21:15 ET - Market Summary
by Stockwatch Business Reporter |
