The former Snip mine produced approximately one million ounces of gold between 1991 and 1999 at an average gold grade of 27.5 g/t.

The current inflation is more demand-driven than the Fed is ready to admit.

Still, bullion is approaching its biggest weekly gain since August after receiving a boost from the latest US inflation report.

Kirkland Lake is in the midst of one of the Canadian gold sector's most important mergers.

Glencore will find out this month whether it will be able to build an electronics recycling facility in the UK, which could be operational within 18 months.

Last week, Westgold had said it received positive engagement from Gascoyne shareholders for its A$104.8 million ($76.94 million) takeover offer.

Gold advanced nearly 2% on Wednesday to its highest in a month.