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by Stockwatch Business Reporter

New York spot gold rose $5.50 to $1,794.70 on Tuesday. The TSX-V went the other way, dropping 4.45 points to 663.83, while the TSX gold index rose 1.05 points to 245.68. Most Canadian gold miners moved lower. Oceanagold Corp (OGC) was one. It fell 14 cents to $2.25 on 2.73 million shares, well off its spring high of $3.41. Newmont Corp. (NGT) was up, adding 79 cents to $58.41 on 316,000 shares.

Among the juniors, David Fennell and Carlos Bertoni's Reunion Gold Corp. (RGD) was strong, jumping to an intraday high of 33.5 cents before ending the day up 3.5 cents to 30 cents on 1.58 million shares. There has been no news since the company closed its placement of 141.65 million shares at 26 cents in mid-July, raising $30.7-million through a bought-deal placement. The cash is primarily for exploration, led by work at the Oko West project in Guyana.

Reunion's stock began a northbound trek a year ago, thanks to activity -- and promotable assays -- from Oko West. Drilling produced hits of up to 2.67 grams of gold per tonne over 46.9 metres in September, and that was followed by a 58-metre encounter in October that averaged 2.29 grams per tonne. More gold arrived and in February, Mr. Bertoni, interim chief executive officer, cheered a 63-metre hit that averaged 3.38 grams of gold per tonne.

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