Investor confidence can stabilize mining’s moondog industries, which create between three and four spinoff jobs for every direct job in mining
THUNDER BAY – The surging price of gold in early 2016 led a stock market spike in the value of Canadian mining companies, including those operating in Northwestern Ontario.
The Canadian Mining Eye index gained 26 per cent of its value in the first quarter of 2016 with gold companies leading the pack at a 16 per cent increase. That compares to a five per cent decline among the index’s gold companies that occurred in both the third and fourth quarters of 2016.
The price of gold increased from $1,061 USD per ounce on Dec. 31 to $1,237 by the quarter’s end on Mar. 31.
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