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Detour Gold’s storage dome at the Detour Lake mine in northern Ontario.
Detour Gold’s storage dome at the Detour Lake mine in northern Ontario.
(Handout/Detour Gold)

Detour Gold soars since risky financing

Whether it was dumb luck or principled investing, you’ve got to give it up for the people who plowed money into Detour Gold’s last equity deal.

When the gold miner came to market in May, more or less pleading for cash, investors had few good reasons to pony up the money. Gold had slumped 17 per cent since January and the Detour’s shares had plummeted 60 per cent over the same period.