Bullion is up more than 2% for the week so far.

The miner has successfully appealed a prior decision regarding ownership of waste rock and tailings from the British Columbia mine.

The company currently owns Indonesia's second-largest copper and gold mine.

The comments come hours after Toronto-based Victoria Gold said it hasn’t detected elevated cyanide levels downstream of its property.

The Galloway project is located along the Cadillac-Larder Lake Fault in the province's Golden Triangle.

The gold miner now has a 9.9% equity stake in Relevant Gold.

Investors are moving into gold equities from bullion, and the gold price may increase while central banks increase purchases as the US election approaches, BMO analysts said.

Top banks, including the ANZ, the Commonwealth Bank of Australia and the National Australia Bank, have backed the miner.