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Markets, Independence rise

Market futures were up after a mainly positive finish on key indices.
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Independence Gold’s 3Ts project in British Columbia

Staff reporter

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.