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.
Toronto-based Wesdome Gold Mines continues to intersect high grades as drilling goes on at the Kiena mine complex in Val d’Or. Drills are testing the Kiena Deep A zone, with excellent results not yet reflected in a resource estimate.
Ongoing drilling is expanding the Kiena Deep A zone both up and down plunge. Here are some highlights:
Gold was first discovered at what became the Kiena gold mine and mill in 2011, and its history has been on-again/off-again since then. Wesdome restarted production in August 2006, and the mine yielded 1.8 million tonnes of ore averaging 3.4 g/t gold for 200,000 oz. recovered before it was again closed in 2013. The Kiena Deep discovery came in 2016.
(This article first appeared in the Canadian Mining Journal)