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by Stockwatch Business Reporter

New York spot gold lost $8.40 to $1,989.30 on Wednesday. The TSX Venture Exchange fell 1.68 points to 527.94 while the TSX gold index added 1.58 points to 275.20. Bad-news laggard of late, First Quantum Minerals Ltd. (FM), was down again today, dropping 43 cents to $13.76 on 5.67 million shares as the last drops of juice drain from the power plant at its Cobre Panama mine, currently blockaded by sea and under threat of governmental revocation of the contract to operate the mine. Franco-Nevada Corp. (FNV), which holds a significant royalty interest on the mine, nevertheless gained altitude today, adding $2.19 to $162.35 on 566,000 shares.

James McDonald's Kootenay Silver Inc. (KTN) closed unchanged at 91 cents on 415,000 shares on word it has drilled a 9.67-metre interval grading 208 grams of silver per tonne plus modest amounts of zinc and lead in one of three new holes into the D-Vein system at its Columba project in Chihuahua, Mexico. Much of the silver sat within a 2.37-metre interval that graded 1,142 grams per tonne, with 2.5 per cent zinc and 0.9 per cent lead as well. The two other holes yielded mineralization from the D-Vein system, with one also encountering lower grades across 26 metres in hangingwall quartz barite stockwork veining.

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