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.
Para Resources has poured its first gold doré bar, weighing 380 oz. from its Gold Road mine near Oatman, Arizona. The next step is to begin pouring larger bars as additional mining faces become active and work converts to stope mining. Higher grades are expected due to lower dilution.
Para has set its sights on producing 40,000 oz. of gold annually. The mill has a daily throughput of 500 tonnes.
The company says it has all the necessary permits in hand to expand production at Gold Road and at its El Limon gold mine in Colombia.
(This article first appeared in the Canadian Mining Journal)
