Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Vancouver-based Great Bear Resources (CVE: GBR) has successfully closed a deal worth C$10.9 million to continue exploration at its gold projects in Ontario.
A consortium led by Cormac Securities and including Canaccord Genuity subscribed to two million flow-through shares priced at C$5.45 each for aggregate proceeds of C$10.9 million. The shares are subject to a hold period that expires on November 4, 2019. The underwriters will receive a commission of 6% on the gross amount raised.
Great Bear is currently in the midst of a 90,000-metre drilling program at its 100% owned Dixie Lake gold project located a 15-minute drive from downtown Red Lake.
This article first appeared in the Canadian Mining Journal
