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by Stockwatch Business Reporter

New York spot gold fell $1.60 to $1,911.80 on Thursday. The TSX Venture Exchange rose 2.11 points to 605.66 while the TSX gold index added 0.09 point to 273.10. Most Canadian gold miners moved higher today, but Victoria Gold Corp. (VGCX) fell 53 cents to $6.98 on 690,000 shares.

Victoria said late Wednesday that it earned $16-million (U.S.) in its second quarter. While the company says its 2023 guidance "remains intact" at between 160,000 and 200,000 ounces, it now expects production to fall within the lower end of the range. This is thanks to the East McQuesten forest fire that forced a temporary evacuation. Previously, the company was expecting to come close to the upper limit.

It never rains but it pours. Patrick Godin's New Gold Inc. (NGD) fell 11 cents to $1.31 on 5.91 million shares on word the company has suspended underground mining at its New Afton gold and copper mine in British Columbia. The suspension -- a move driven by "an abundance of caution" -- is the result of "observed geotechnical variances that require further review" at the New Afton tailings storage facility. Milling continues, thanks to an existing surface stockpile and in-pit tailings deposition continues as planned.

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