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by Stockwatch Business Reporter

New York spot gold lost $13.20 Monday, closing at $3,341.70. The TSX Venture Exchange added 2.74 points to 786.54 while the TSX gold index rose 0.33 point to 504.17. Aya Gold & Silver Inc. (AYA) had a good day, adding 20 cents to $13.66 on 3.22 million shares in silence, while Fortuna Mining Corp. (FVI) quietly lost 44 cents to $9.03 on 3.62 million shares.

It had no news again today, but Scott Berdahl's Snowline Gold Corp. (SGD) continues to percolate. An $8 stock at the open on Friday, Snowline soared to $10.52 before popping a breaker. Snowline retreated after the obligatory time-out, but it held some of its gain, ending Friday up 93 cents to $8.96 on 1.93 million shares. The wiring remained hot today, but the breaker did not trip, with Snowline rising 66 cents to $9.62 on 958,000 shares.

Most of the market hubbub centres on the Valley deposit on the company's Rogue project in Yukon, where Snowline now has a preliminary economic assessment covering the 204 million tonnes measured and indicated at 1.21 grams of gold per tonne, and the 44.5 million tonnes inferred at 0.62 gram per tonne. The dream sheet, revealed late last month, contemplated mining most of those 8.8 million ounces of gold, processing 171 million tonnes over a 20-year run.

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