Palladium price surges 12% as UK sanctions target Russia metals

Zinc's slump is part of a broader price retreat across the base metals complex.

Celsius' main asset is the high-grade Maalinao-Caigutan-Biyog copper-gold project in the Philippines.

St Barbara cited a lack of synergies in rejecting gold producer Silver Lake's revised offer for the Western Australia assets.

The epicenter of the gold mining industry now lies firmly in New York.

The tests include using magnets and metal detectors to ensure that the bags do in fact contain metal, and a so-called “touch inspection”.

RBC Capital Markets strategist says the fraught negotiations had set the stage for a near-term boost to bullion.

"The market is on pause, but the bears are still in control," said Al Munro, base metals strategist at Marex.

One hole intersected exceptionally high gold grades of 1,636 and 697 g/t, both over 1 metre.

Many Chinese steel mills have reportedly lowered their prices amid disappointment over demand.