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Revival Gold up, copper stocks down

Junior Revival Gold (TSXV: RVG) shot up 18.99% to a 52-week high of C94c as it released a resource for the past-producing Beartrack gold project in Idaho.
Revival Gold up, copper stocks down Revival Gold up, copper stocks down Revival Gold up, copper stocks down Revival Gold up, copper stocks down Revival Gold up, copper stocks down

Junior up on Beartrack resource

Staff reporter

The company, which was previously known as Strata Minerals, announced an earn-in to the project from a Yamana Gold subsidiary in September.

Revival put the resource at an indicated 1.2 million ounces of gold and an inferred 765,000oz.

It said significant infrastructure remained at the project, which was shuttered in 2000 when the gold price was below US$300 an ounce.

The gold price inched higher today on the spot market and was trading earlier at $1,299/oz.

The copper price headed lower however, as the stronger US dollar eclipsed news of India's ordered closure of Vedanta's Tuticorin copper smelter over pollution concerns, Bloomberg reported.

In the US, Freeport-McMoran (NYSE: FCX) closed 2.52% lower yesterday and Toronto's S&P/TSX Composite Index copper sector closed down 4.07%.

First Quantum Minerals (TSX: FM) posted the biggest drop of 4.52%.

In London, Rio Tinto (LSE: RIO) was down 1.14% while in afternoon Australian trade, BHP (ASX: BHP) was down slightly, around 0.4% lower, and copper-focused OZ Minerals (ASX: OZL) was off more than 0.7%.