CAPITAL MARKETS

Markets, Independence rise

Vale placing 'caution before capacity'

Staff reporter

This article is 5 years old. Images might not display.

The gold price is similar to this point yesterday, at US$1,877 an ounce on the spot market.

US president Donald Trump is continuing to say he will win the election, which was held last week and widely considered won by rival Joe Biden.

Independence Gold (TSXV: IGO) was a standout in Toronto, on reporting 67.6m averaging 3.63g/t gold and 132.83g/t silver from 51m at its 3Ts project in British Columbia.

Its shares, which have spent much of the year below C8c, shot up to a one-year high of 22c intraday before closing up 46.15% to 19c.

The initial assay results were from the first two holes of a recently-completed 10-hole programme at 3Ts.

The project's Tommy and Ted-Mint veins have a 2014 inferred resource of 5.4 million tonnes grading 2.52g/t gold and 71.5g/t silver for 441,000oz of gold and 12.5Moz of silver.

Elsewhere, the iron ore price is back above US$120/t as Vale told a trading summit it would not overflow the market with supply and would place "caution before capacity", Reuters reported.

Rio Tinto closed up 3% in London, Newmont lost 1.7% in New York and Teck Resources closed down 1.2% in Toronto.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Investor Sentiment Insights 2026

Discover what investors have planned for mining in 2026 in our industry-leading survey

editions

World Risk Insights 2025 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 120 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.