Polymetal shares eye tentative rebound after BlackRock ups stake

Under the deal, a company controlled by Eric Sprott, acquired around 5 million units for a total consideration of C$10 million.

The company’s claims now cover 110 km of the prospective Eureka structural trend.

Partners Agnico Eagle and Yamana Gold will begin construction on an underground ramp at their Canadian Malartic open pit mine, 25 km west of Val-d’Or, in August.

Fury Gold will combine the high-grade gold projects: Committee Bay in Nunavut, Homestake Ridge in B.C. and Eau Claire in Quebec.

Gold and gold stocks are entering their strong season.

The miner recorded net income of $80.7 million or $0.27 per share for Q2 2020, more than double the previous year's profits.

The company is maintaining 2020 guidance of 520,000-550,000 ounces at an all-in sustaining cost of $850-$950 per ounce sold.

Shareholders asked for further investigations into a bonus payment by Kelvin Dushnisky's former employer Barrick Gold.

Spot gold rose 11% for the month of July and gained nearly 30% so far this year.