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.
Transition Metals of Sudbury, Ontario, has reported that excellent grades have been drilled at its Highland gold property in the Cape Breton Highlands, 60 km northwest of Sydney. The best hole, 19-TMC-RC, returned 16.15 g/t over 4.0 metres within an intersection of 8.0 metres averaging 5.90 g/t gold.
These grades came from six recent shallow drill holes in the 6A zone, 2 km east of the Main zone. Assays are pending for another 22 holes.
Transition Metals says the Highland property covers a cluster of high grade gold occurrences. The property is easily reached by a major road and network of logging roads. The company is seeking a partner to advance the project.
This article first appeared in the Canadian Mining Journal
