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by Stockwatch Business Reporter

New York spot gold rose $1.40 to $1,913.20 on Friday. The TSX Venture Exchange rose 1.48 points to 607.14 while the TSX gold index added 3.59 points to 276.69. Most Canadian gold miners moved little, but there were exceptions. Iamgold Corp. (IMG) fell five cents to 3.12 on 1.09 million shares, while Victoria Gold Corp. (VGCX) had a good day, adding 52 cents to $7.50 on 475,000 shares.

While it never rains but it pours for Patrick Godin's New Gold Inc. (NGD), the latest downpour was brief. New Gold fell 11 cents to $1.31 on 5.91 million shares yesterday on word the company had suspended underground mining at its New Afton gold and copper mine in British Columbia. This was because of "observed geotechnical variances that require further review" at the mine's tailings storage facility.

Today, the company cheered the result of a "thorough review" that determined the structural integrity and behaviour of the tailings facility are normal and expected. Good news rarely yields the same response as bad but New Gold rebounded nine cents to $1.40 on 2.8 million shares today on word that New Afton is already back to underground mining and the milling of ore had been unaffected by the brief shutdown.

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