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.
Vancouver-based Golden Predator has agreed to purchase 100% of the Reef gold property from Precipitate Gold. The Reef property is 200 km north of Watson Lake, adjacent to Golden Predator’s 3 Aces gold project. The purchase of the Reef property consolidates Golden Predator’s holdings in the district.
The original option agreement signed in February 2017 has been amended, saving Golden Predator $450,000 in cash plus about $400,000 in shares.
Golden Predator has spent several years exploring the 3 Aces project, concentrating on the Central Core area. The company has tested the Reef property and determined that the geology and style of mineralization at the Reef targets are very similar to that of the Central Core area.
The company plans to restart the pilot plant and continue with bulk sampling this year.
(This article first appeared in the Canadian Mining Journal)
