Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
Bonterra Resources of Val d’Or, Quebec, is nearing the completion of the environmental impact assessment for increasing the throughput of its Urban-Barry mill located near Val d’Or. Capacity will be tripled to 2,400 t/d from 800 t/d.
The company is creating a regional mill that will process ores from its satellite deposits, likely starting with the Barry and Moroy projects.
Bonterra has two engineering firms working on the expansion. One is focused on the tailings management facility, where capacity will be 10 million tonnes of material over 12 years. The second is designing the mill modifications that will keep gold recovery levels above 95%. The second firm is also designing a new gravity circuit to accept feed from the Barry project.
(This article first appeared in the Canadian Mining Journal)
