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by Stockwatch Business Reporter

New York spot gold continued to drift lower, dropping $1.90 to $1,819.10 on Thursday. The TSX Venture Exchange lost another 5.28 points to 527.90 while the TSX gold index added 3.28 points to 249.83. Most Canadian gold miners stayed close to home today. Kinross Gold Corp. (K), which rose seven cents to $6.11 on 3.18 million shares, and Barrick Gold Corp. (ABX), which added 20 cents to $19.71 on 3.57 million shares, were among the busier ones today.

Patrick Godin's New Gold Inc. (NGD) jumped 10 cents to $1.40 on 1.72 million shares, but it had news. The company produced just over 111,000 equivalent ounces of gold in its third quarter. This is a significant improvement over the 91,000 ounces it managed a year ago and is slightly better than what it averaged in the first two quarters of 2023.

"We had a strong third quarter," beamed Mr. Godin, president and chief executive officer, noting that both of his company's mines contributed with consistent production. When prodded for additional colour, he deemed the Rainy River mine in Northwestern Ontario to have "delivered on plan," while New Afton in British Columbia "delivered above plan."

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