Fledgling Peru govt seeks “new deal” with miners

Last month’s Fed gold futures purge crushing gold stocks left them both really oversold technically and really undervalued.

Dealers were offering a discount of up to $5 an ounce over official domestic prices this week.

Gold’s inability to benefit substantially from weaker US yields suggested that it remains vulnerable to a further pullback, one analyst said.

Ecuador has abundant mineral reserves, but has lagged behind other Andean countries such as Peru and Chile in developing large-scale mining.

Blackwater is estimated to be the largest gold mine development in British Columbia's Cariboo region in the last decade.

This agreement confirms the key terms of the agreement in principle signed a year ago.

The project will add more than three million ounces of gold production over an initial 13-year mine life.

At the end of San Albino's pre-commercial production period, Mako Mining recovered a total of 6,300 oz. gold.

The Fed chair's latest comments helped ease concerns that faster inflation will see the central bank taper its monetary stimulus earlier than expected.