NEW YORK, NY / ACCESSWIRE / January 6, 2017 / Precious metals miners surged Thursday as a weakening dollar pushed gold prices to a 1 month high. Gold for February delivery gained 1.4 percent on Wednesday to close at $1,181.30 a troy ounce on the Comex division of the New York Mercantile Exchange. Gold prices are up approximately 2 percent year-to-date. Silver for March delivery gained 0.5 percent on Wednesday to close at $16.637 a troy ounce. On Thursday, the Market Vectors Gold Miners ETF (GDX) gained 5.84 percent and is up approximately 10.9 percent year-to-date. Today's reports on IAMGOLD Corp. (NYSE: IAG) and Pan American Silver Corp. (NASDAQ: PAAS). Register with us now for your free membership and gain access to our latest research reports at: RDInvesting.com

"January is more often than not a positive month for gold and this may well happen again," said David Govett, head of precious metals trading at Marex Spectron Group Ltd. in London. Yet, "we are governed by the greenback and this will dictate the direction regardless of sentiment and history."

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IAMGOLD's shares surged 11.16 percent to close at $4.68 a share Thursday. The stock traded between $4.31 and $4.72 on volume of 16.71 million shares traded. On December 22nd, the company announced that it had signed an agreement to acquire Merrex Gold Inc., in an all-share transaction. Merrex is a junior mineral exploration company of which IAMGOLD currently owns approximately 45.8 million or 23% of Merrex's issued and outstanding 199.2 million common shares. IAMGOLD expects to issue 6.9 million shares, amounting to less than 1.5% of its issued and outstanding shares, in connection with the Transaction.

"This agreement consolidates the ownership of a key asset in IAMGOLD's exploration pipeline," said Steve Letwin, IAMGOLD's President & CEO. "The IAMGOLD exploration team, led by Craig MacDougall, working in concert with Merrex on the Diakha-Siribaya project in Mali has done an outstanding job over recent years to define indicated resources of 2.1 million tonnes grading 1.90 g/t Au for 129,000 ounces and inferred resources of 19.8 million tonnes grading 1.71 g/t Au for 1.1 million ounces. Mali is a prolific mining friendly jurisdiction and is where IAMGOLD began nearly 25 years ago at the Sadiola project which, along with its neighbouring Yatela mine, has already produced over 7.5 million ounces of gold."

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Pan American Silver's shares spiked 7.39 percent to close at $17.30 a share Thursday. The stock traded between $16.47 and $17.56 on volume of 3.24 million shares traded. On December 27th, the company announced that it had acquired ownership and control of an additional 10 million common shares of Maverix Metals Inc. though the exercise of previously acquired common share purchase warrants with an exercise price of US $0.546 per common share. The company also acquired ownership and control of additional 6.5 million of Maverix common share purchase warrants with an exercise price of US $1.204 per share, while it will continue to hold existing 10 million warrants with an exercise price of US $0.78 per share. Both existing and current warrants will expire in July 2021.

Pan American Silver reported net earnings of $43.4 million for the third quarter ended September 30, 2016, compared to a net loss of $67.5 million in the third quarter of 2015. Consolidated All-In Sustaining Costs per silver ounce sold were $6.34 in the third quarter of 2016, down 61 percent from the third quarter of 2015.

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