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by Stockwatch Business Reporter

New York spot gold rose $7.10 to $1,992.20 on Friday. The TSX Venture Exchange rose 5.31 points to 525.25, while the TSX gold index added 9.22 points to 277.49. Most Canadian gold miners sailed northward today, although a few spent the day tacking sideways to stay the course. New Found Gold Corp. (NFG) was one of those: It added just five cents to $5.18 on 968,000 shares. Investors are still absorbing the fallout from the company's planned $56-million charity flow-through financing, priced at $7.25 per share. The market deemed the offer overly charitable to the buyers, so it peeled nearly $1 from the company's share price, which began the week at the $6 mark.

Among the more energetic gainers was First Quantum Minerals Ltd. (FM), which jumped $1.74 to $17.46 on 13.32 million shares as the market discerned a hint of hope in the news from Panama. The government and its citizens continue to jaw about the fate of the company's Cobre Panama gold mine. Also strong today was Endeavour Mining PLC (EDV), which added $1.48 to $29.64 on 879,000 shares. The company has been silent for nearly a month. Centerra Gold Inc. (CG) was buoyant as well. It added 45 cents to $8.25 on 1.69 million shares on word it has permission to repurchase up to 18.3 million shares through a normal course issuer bid.

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