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Gold Summary for May 1, 2022
2022-05-01 19:01 ET - Market Summary
by Stockwatch Business Reporter
New York spot gold slid $34.10 Monday, ending the day at $1,862.60. The TSX-V kept bullion company, dropping 22.75 points to 791.68 while the TSX gold index lost 2.61 points to 326.74. Canadian gold miners were in full retreat today. One, Renaud Adams's New Gold Inc. (NGD), dropped eight cents to $1.79 on 3.18 million shares on word that it lost $8.8-million (U.S.) in its first quarter. Mr. Renaud, president and chief executive officer, says that his company nevertheless expects to deliver on its 2022 guidance.
Another, Sandstorm Gold Ltd. (SSL) slumped 69 cents to $8.87 on 2.99 million shares on word that it is acquiring Nomad Royalty Co. Ltd. (NSR), offering 1.21 shares for each Nomad share in a $755-million arrangement. Nomad roamed 66 cents higher to $10.25 on 2.15 million shares on the news. That was just the opening deal for Sandstorm today. It is also buying nine royalties and a stream from BaseCore Metals LP for $425-million in cash and $100-million in stock.