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by Stockwatch Business Reporter
New York spot gold rose $11.70 to $1,801.70 on Friday. The TSX-V rose 7.49 points to 680.51, while the TSX gold index added 5.29 points to 246.94. Most Canadian gold miners moved higher today. Agnico Eagle Mines Ltd. (AEM) tacked on $1.70 to end the day at $59.05 on 1.83 million shares while Ero Copper Corp. (ERO) went the other way, dropping 53 cents to $13.85 on 583,000 shares.
John McConnell's Victoria Gold Corp. (VGCX) did well, but it had a boost from its second quarter report. Victoria rose 47 cents to $10.42 on 1.01 million shares on word that it earned $13.42-million (U.S.) in the three months ended June 30. The company produced 32,055 ounces of gold at its Eagle mine in Yukon, up from the 24,358 ounces it managed in the first quarter.
That lower first quarter tally was the result of a six-week winter maintenance program and exceptionally cold weather, so the company was expecting significantly greater production for the rest of the year. Now it is still hopeful, but not quite so sure. Victoria now expects its 2022 production to come in "close to the lower end" of its original guidance, which called for between 165,000 and 190,000 ounces.
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