(TheNewswire)

March 27, 2024 – TheNewsWire – Global Stocks News – On March 20, 2024 Fury Gold Mines (TSX:FURY) (NYSE American:FURY) announced that starting early April 2024, it will begin a 2,000 meter diamond core drilling program at its 100% owned Éléonore South gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec.

Following the March 1, 2024 acquisition of Newmont’s 49.9% interest in the project for CND $3 million, Fury now has complete control of Éléonore South.

“The proximal Éléonore Mine has about 5 or 6-years of mine life remaining,” Tim Clark, CEO of Fury Gold told Guy Bennett, CEO of Global Stocks News (GSN). “They need to extend the mine life. In early April 2024 we are going to be drilling Éléonore South. If we get good grades on our property, there’s a potential further consolidation opportunity.”

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“Historically, three companies owned Éléonore South,” Clark told GSN. “It was difficult to get anything done. The Fury geological team believe this is a prolific area for new discovery. Recent geochemical surveys confirm that we have interesting targets. And now, for the first time, we are free to drill the project, on our own timeline.”

Tim Clark is a capital markets’ veteran (Deutsche Bank, Merrill Lynch, BMO) who has a track record of making savvy acquisitions and raising institutional funds.

“Beyond access to capital, and the quality of our gold assets in Canada, our other differentiator is the experience of our management team,” stated Clark. “Fury has extremely disciplined spending habits. We allocate capital carefully and do deals that we believe will strengthen our position.”

Select Fury Gold milestones under Tim Clark’s tenure:

December 6, 2021: Sale of Homestake Ridge for $50 million

April 19, 2022: Completion of CND $11 Million Private Placement

August 3, 2022: Discovery of Multiple High-Grade Gold at Eau Claire

August 8, 2022: Fury and Newmont Take Control of Éléonore South

December 21, 2022: Fury Drills 13.5 Metres of 8.05 g/t Gold at Percival

February 22, 2023: Appointment of Brian Christie as Board Director

March 23, 2023: Closing of CND $8.75 Million Financing

September 5, 2023: Appointment of Isabelle Cadieux as Board Director

November 6, 2023: Fury Intercepts up to 279 g/t Gold over 1.5m at Percival Main

January 17, 2024: 31.77 g/t gold & 8.07g/t Tellurium over 3.5 Metres at Hinge Target

March 1, 2024: Consolidation of Éléonore South Gold Project

March 14, 2024: Sale of 5.45 million DV Silver shares to institutions

March 20, 2024: Drills to begin turning in April at Éléonore South

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“In the course of my career, I developed close personal relationships with many CEOs in the gold and precious metals space,” Clark told GSN. “I also have long standing relationships with hedge fund managers and institutional resource investors,” Clark continued. “Through these relationships Fury Gold has access to capital and deal flow.”

The fully funded drill program announced on March 20, 2024, will focus on the Moni trend where previous drilling intercepted up to; 53.25 m of 4.22 g/t gold (Au); 6.0 m of 49.50 g/t Au including 1.0 m of 294 g/t Au and 23.8 m of 3.08 g/t Au including 1.5 m of 27.80 g/t Au, several of which remain open.

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“This area, given its strategic significance near the border to Sirios’ Cheechoo deposit, proximity to the operating Éléonore Mine, and historical high-grade gold drill intercepts, represents a tremendous amount of potential upside to investors,” stated Tim Clark, CEO of Fury. “Going forward, we will also be exploring other priority targets across the whole 100% owned Éléonore South property which will include a follow-up biogeochemical survey of the Éléonore Mine style gold anomaly that we recently identified at the project.”

Previous drilling at Éléonore South, 38,037 m in 164 drill holes, was largely focussed in the Moni area and successfully defined a 2,000 m x 750 m zone of lower-grade intrusion related gold mineralization similar to that of the Cheechoo gold deposit.

Within the lower-grade gold halo, there are a series of structurally controlled quartz vein stockworks which host significantly higher grades of gold. Fury’s Spring 2024 drilling campaign will focus on these structural corridors following up on previous drill intercepts of 53.25 m of 4.22 g/t Au; 6.0 m of 49.50 g/t Au and 23.8 m of 3.08 g/t Au.”

In late spring Fury will complete the biogeochemical grid where a robust geochemical gold anomaly within the same sedimentary rock package that hosts Newmont’s Éléonore Mine has been identified (see news release dated March 5, 2024).

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Figure 1: Drilling around the Cheechoo Tonalite showing previous drill intercept highlights (2017-2019).

“We’ve been given an excellent opportunity to get drilling at Éléonore South several months ahead of what we had initially envisioned. This will allow us the ability to confirm our recent targeting within the Cheechoo tonalite and test our ideas on the controls of the high-grade quartz vein hosted gold mineralization. Our teams will be mobilizing within the week,” stated Bryan Atkinson, P.Geol., SVP Exploration of Fury.

Fury also owns 54 million shares of Dolly Varden Silver, which has a market cap of CND $216 million.

DV Silver is developing its 100% held Kitsault Valley Project located in the Golden Triangle of British Columbia, Canada, 25 kilometers by road to tide water. It also has a new consolidated copper-gold porphyry project in the Golden Triangle, similar to other deposits in the region (Red Mountain, KSM, Red Chris).

On November 2, 2023 Dolly Varden Silver announced that it has closed a deal where Hecla Canada invested $10 million in DV Silver, raising its stake in DV Silver from 10.6% to 15.7%.

Hecla Mining has a market cap of USD $2.64 billion and trades on the New York Stock Exchange (NYSE). It produced 14.2 million ounces of silver in 2023.

“Hecla has demonstrated it is a sticky shareholder,” DV Silver CEO Shawn Khunkhun told GSN, “They’re looking to expand their North American silver portfolio.”

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“Fury Gold Mines is a best-in-class junior gold exploration company, focused on Canada, which has a favorable geopolitical climate,” Clark concluded. “Because of our Dolly Varden position, and relationships with institutional investors, we are in a strong position to finance current and future exploration and development programs.”

Contact: guy.bennett@globalstocksnews.com

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The premature redemption price for Sovereign Gold Bond (SGB) 2016-17 Series II has been revealed by the Reserve Bank of India (RBI). The premature redemption will be done on March 30, 2024. The premature redemption rate for the same is Rs 6,601 per unit of sovereign gold bond (SGB).

The SGB redemption price is calculated on the simple average of the closing gold price of 999 purity of the previous three business days from the date of redemption as published by the India Bullion and Jewellers Association (IBJA). Therefore, the SGB redemption price is based on the simple average of the closing gold price for the week of March 18-22.

It is to be noted that though the tenor of the SGB is 8 years, early encashment/redemption of the bond is allowed after the fifth year from the date of issue on coupon payment dates. The bond are tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor.

“Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after the fifth year from the date of issue on coupon payment dates,” said the RBI in a frequently asked question (FAQ) about SGB on its website.

An investor must apply for premature redemption within a specific annual deadline after 5 years of investment. Failure to tender the SGB to the RBI within this timeframe will result in the inability to redeem it in the same year.

How to prematurely withdraw SGBs

For premature redemption of SGBs, investors can approach the concerned bank/Stock Holding Corporation of India Limited (SHCIL) offices/post office/agent 30 days before the coupon payment date.

RBI has said requests for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date. The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

The proceeds are credited to the customer’s bank account provided at the time of applying for the bond.

There is a 10-day gap from the last date of premature redemption and the interest payment.

Tax on premature withdrawal

RBI says interest on the Bonds will be taxable as per the provisions of the Income-tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long terms capital gains arising to any person on transfer of bond.

TDS: TDS is not applicable on the bond. However, it is the responsibility of the bond holder to comply with the tax laws.

SGB vs GMS

The Centre introduced the first SGB in November 2015, and the initial two issues have matured, providing investors with high tax-free returns. The government had also floated the Gold Monetisation Scheme (GMS) ari=ound the same time, but it failed to gain traction.

So far, a total of 147 tonnes worth of SGBs have been sold, while the response to GMS is only 10 per cent of that. Both schemes aimed to reduce the import bill of gold, which has been exerting pressure on the rupee in the foreign exchange market.

Gold traded at Rs 126,800 per tola today

Gold prices opened on the Multi Commodity Exchange (MCX) on Wednesday at Rs 66,198 per 10 grams and hit an intraday low of Rs 66,077. In the international market, prices hovered around $2,177.27 per ounce.

Meanwhile, silver opened at Rs 74,487 per kg and hit an intraday low of Rs 74,359 on the MCX. In the international market, the price hovered around $24.45 per ounce.

Anuj Gupta, Chief of Commodity and Currency at HDFC Securities, said, “Yesterday, gold prices increased by 0.14% and closed at 66,114 levels. Recently, gold made a new high of 66,356 levels. Silver prices closed with a negative note, down by 0.54% and closed at 74,518 levels. Gold prices increased sharply due to geopolitical tension in the Middle East.”

Manav Modi, Analyst, Commodity and Currency, MOFSL, said, “Gold prices climbed, as expectations of interest rate cuts by the US Federal Reserve firmed, while investors waited for data due later in the week for underlying inflation trends that will help gauge the timing of these cuts.”

The dollar index is trading near its one-month high above the 104 mark. Similarly, US 10Y Yield is also hovering above the 4.2% mark, capping some gains for the metal price. On the data front, US Core durables goods orders data was reported better than expectations at 0.7% v/s 0.1%. However, US consumer confidence was slightly below estimates at 104.70 v/s 106.90.

“Gold prices also continue to find support from elevated physical demand from Chinese households, where gold’s record rally has not tarnished the buying appetite. Central bank purchases also sustain their support for gold, with China’s central bank steadily building its gold reserves. Updates regarding the recent development in the geo-political tensions, the tussle between Russia-Ukraine and Israel-Hamas is keeping market participants on edge. Gold tread water in anticipation of PCE price index data- the Fed’s preferred inflation gauge- due later this week. Focus this week will also be on the US GDP and comments from Governor Powell,” said Modi.

Jateen Trivedi, VP Research Analyst, LKP Securities, said, “Gold traded higher by 3:00 hour around 66,300 in MCX as Comex gold found support near 2170$ and rallied to 2195$ with backed up from the FED’s dovish statements the gold prices are broadly in positive trend but with resistance been seen at 2200-2205$ zones for the week. US GDP number son Thursday & Core PCE price index on Friday will be tracked keenly as they provided important impetus on FED’s watch tool.”

Additionally, Amit Khare, Associate Vice President at GCL Broking, said, “As per the daily chart Bullions are trading in the mix zone, Gold is looking strong while Silver is looking weak, Momentum Indicator RSI also indicating the same, below are the important levels for the day: Gold April Support 65,900/65,700 and Resistance 66,200/66,400. Silver May Support 74,000/73,500 and Resistance 75,000/75,500.”

KATHMANDU, March 27: Despite a slight dip in gold price on Tuesday following consistent highs, it surged once more on Wednesday. The price of gold has increased by Rs 400 per tola in the domestic market today compared to the previous day.

The price of fine gold has now reached Rs 126,800 per tola.

On Monday, the price of gold rose by Rs 200 per tola compared to Sunday, reaching Rs 126,700 per tola. However, it saw a reduction of Rs 300 per tola on Tuesday.

On March 14, the price of gold was set at Rs 125,800 per tola, and by last Thursday, it had reached Rs 127,800 per tola.

Similarly, the price of standard gold stands at Rs 126,200 per tola today, up from Rs 125,800 per tola yesterday.

Meanwhile, there has been a general decline in the price of silver. On Wednesday, silver decreased by Rs 15 per tola, with the trading price remaining at Rs 1,490 per tola. It was traded at Rs 1,505 per tola on Tuesday and Rs 1,515 per tola on Monday. Last Thursday, it reached Rs 1,555 per tola.

In the international market, gold is trading at $2176.49 per ounce on Wednesday, up from $2172.08 on Tuesday and $2169.55 per ounce on Monday. Silver is priced at $24.43 per ounce, compared to $24.64 per ounce on Tuesday and $24.65 per ounce on Monday.

For the fourth time in five years, Kāpiti Kikorangi Triple Cream Blue won gold in the Blue Cheese category, cementing its place as the most awarded cheese in New Zealand.

Fonterra’s Mainland won gold for its new Special Reserve Chilli and Garlic Brie launched late last year, while NZMP won six gold and Anchor rounded out the golden tally with two medals.

Marketing and Innovation Director for Fonterra Brands New Zealand Renée Milkop Kerr says, “These wins cement Fonterra’s position as the leading player in cheesemaking in New Zealand.”

Kāpiti and Mainland’s specialty cheese range are produced at the Co-op’s Eltham site in Taranaki, which has been making cheese for more than 100 years from high quality milk produced by local dairy farmers.

Fonterra’s Lichfield, Hautapu, Stirling and Whareroa sites also took away awards for their cheeses.

Cathy Lang from the Eltham site has also been nominated for the 2024 Champion Cheesemaker award, which will be announced in May this year. She previously won this award in 2022.

Cathy says, “Our team puts in a lot of work to create our beloved Kāpiti cheese range, it’s fantastic to see that be acknowledged by the judges.”

More than 270 cheeses were assessed by the 30-person judging panel, led by Master Judge Jason Tarrant. The awards are in their 21st year and celebrate the country’s finest cheese.

Full list of awards:

Gold

• Kāpiti Kahurangi Creamy Blue
• 
  Kāpiti Kikorangi Triple Cream Blue x2
• 
  Kāpiti Kānuka Creamy Havarti x2
• 
  Kāpiti Artisan Tomme
• 
  Kāpiti Te Tihi Premium Aged Cheddar
• 
  Kāpiti Pakari Aged Cheddar
• 
  Kāpiti Pakari Blackcurrant Cheddar
• 
  Kāpiti Ramara
• 
  Mainland Special Reserve Chilli & Garlic Brie x2
• 
  NZMP Epicure
• 
  NZMP Tasty Cheddar
• 
  NZMP Organic Cheddar
• 
  NZMP Special Reserve Cheddar
• 
  NZMP Vintage Cheddar
• 
  Anchor EasyMix Cream Cheese
• 
  Anchor Traditional Cream Cheese 1kg
• 
  NZMP Traditional Cream Cheese

Silver

• Kāpiti Kānuka Smoked Havarti x2
• 
  Kāpiti Awa Tangy Blue
• 
  Kāpiti Kakato Gouda
• 
  Kāpiti Kirīmi Chilli & Garlic
• 
  Kāpiti Artisan Ash Rind White
• 
  Mainland Tasty Cheddar
• 
  NZMP Mild Cheddar
• 
  NZMP Edam
• 
  NZMP Brine Salt Gouda
• 
  NZMP Parmesan
• 
  NZMP Tasty Lite
• 
  NZMP High Solids Cream Cheese
• 
  Anchor Traditional Cream Cheese 5kg

Bronze

• Kāpiti Artisan Bridge St Blue
• 
  Kāpiti Kīrimi Herb & Garlic
• 
  Mainland Special Reserve Smoked Cheddar
• 
  Kāpiti Kahikatea Camembert
• 
  Kāpiti Akatea Brie
• 
  Kāpiti Kohatea Extra Creamy Brie
• 
  Mainland Special Reserve Double Cream Camembert
• 
  NZMP Colby
• 
  NZMP Mozzarella

The gold price today in Delhi is 6129 per gram for 22 karat gold and 6685 per gram for 24 karat gold.

The price of gold in India today is 6,114 per gram for 22 karat gold and 6,670 per gram for 24 karat gold

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Check Gold Price In Your City Today On 27th March 2024

Gold Price Today In Mumbai

The price of gold in Mumbai is 6114 per gram for 22 karat gold and 6670 per gram for 24 karat gold.

Gold Price Today In Kolkata

The gold price today in Kolkata is 6114 per gram for 22 karat gold and 6670 per gram for 24 karat gold.

Gold Price Today In Chennai

The Gold price today in Chennai is 6199 per gram for 22 karat gold and 6763 per gram for 24 karat gold.

Gold Price Today In Delhi

The gold price today in Delhi is 6129 per gram for 22 karat gold and 6685 per gram for 24 karat gold.

Gold Price Today In Thane

The gold price today in Thane is 6114 per gram for 22 karat gold and 6670 per gram for 24 karat gold.

Gold Price Today In Surat

The gold price today in Surat is 6119 per gram for 22 karat gold and 6675 per gram for 24 karat gold.

Gold Price Today In Pune

The gold price today in Pune is 6114 per gram for 22 karat gold and 6670 per gram for 24 karat gold.

Gold Price Today In Nagpur

The gold price today in Nagpur is 6114 per gram for 22 karat gold and 6670 per gram for 24 karat gold.

Image Credits: Robinhood

Eight months after acquiring credit card startup X1 for $95 million, Robinhood announced today the launch of its new Gold Card, with a list of features that could even give Apple Card users envy.

Robinhood, better known for its brokerage app aimed at the everyday investor, is touting all sorts of benefits with its new card in an attempt to attract users. The card has no annual or foreign transaction fees. However, it will only be available for Robinhood Gold members, which costs $5 a month, or $50 annually. (Gold is a program that offers other benefits like 5% APY on an account’s uninvested brokerage cash.) 

Gold Card users can earn 3% cash back on all categories, including restaurants and groceries, and 5% cash bank when booking travel at Robinhood’s new travel portal. That cash back can be transferred to brokerage accounts, which can go toward making investments like stock purchases, the company says. The ability to invest using cash back is the big innovation that X1 developed prior to getting acquired.

Another interesting feature of the Gold Card includes the ability to provide cards for family members. This is the first time that Robinhood has introduced a family-oriented financial product, Robinhood Money General Manager Deepak Rao told TechCrunch. Rao was the founder and CEO of X1 before joining Robinhood in the acquisition. 

Users will have the ability to add up to five family members as cardholders to their account with every cardholder receiving their own card. Additional cardholders can be any age, giving parents a way to help teens build credit and monitor spending. The ability to provide cards to family members will extend even to those visiting from other countries.

“A user can provide cards to parents, children or caregivers and set the right kind of controls and protection, while also helping them build their credit,” Rao said. “They don’t have to provide any other information than their name and date of birth and Social Security number if they have one. If you’re worried about spending limits, you can put a dollar amount limit and also a child-safe mode for kids.”

The Card also allows users to create and delete virtual cards for one-time purchases and will have an APR of 20.24% – 29.99%, which Robinhood said will vary with the market based on the Prime Rate.

Robinhood is also making its physical cards numberless so if they are lost or stolen, users won’t have to swap out all their card information. The company is also launching a new app to go along with the new Gold Card that will be completely separate from its investment app, Rao said. 

Generally, the Gold account offers up to $2.25 million FDIC insurance from a network of partner banks.

Cash back

Robinhood’s entrance into the credit card market is clearly taking a cue from the likes of Apple, which has seen great success with its own card (despite hiccups with its partnership with Goldman Sachs). By forgoing hidden fees like annual or late fees, and by applying its cash back daily, Apple Card topped more than 12 million users as of January.

Many cards offer cash back but often restrict it to certain categories. This card is generous in its cash-back offer. Apple, for instance, offers 3% cash back on all purchases made at Apple, and on purchases made at select merchants when using the Apple Card with Apple Pay. In general, purchases made on Apple Card with Apple Pay earn users 2% back. But Apple also offers a Family Sharing feature, and a high-yield savings account offering 4.5% interest.

Obviously, Robinhood will earn interchange revenue from the credit cards, standard transaction fees paid by the merchants. It has earned interchange revenue off of its debit cards, which launched in 2018. Coastal Community Bank is Robinhood’s banking partner on the new Gold Card.

The new credit card is part of Robinhood’s evolving business model and offerings over the years. In December of 2022, the company announced Robinhood Retirement, which it described as the “first and only” individual retirement account (IRA) with a 1% match on every eligible dollar contributed. Gold Membership, a requirement to get the Gold Card, increases the eligible match to  up to 3% match.

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TORONTO, March 26, 2024 (GLOBE NEWSWIRE) — Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced that it has filed its annual information form and 2023 annual report on Form 40-F, including its audited financial statements for the year ended December 31, 2023, with the SEC on EDGAR as well as the Canadian securities authorities on SEDAR+. These documents are also available at www.alamosgold.com and a hard copy will be provided to shareholders free-of-charge upon request.

About Alamos

Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico. Additionally, the Company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 1,900 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.

FOR FURTHER INFORMATION, PLEASE CONTACT:

All amounts are in United States dollars, unless otherwise stated.

The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.