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by Stockwatch Business Reporter

New York spot gold rose $18.80 to $4,737.90 on Wednesday. The TSX Venture Exchange recovered 28.25 points to 1,051 while the TSX gold index rebounded 10.80 points to 915.58. Most precious metals miners regained some lost ground today. Silvercorp Metals Inc. (SVM) added 84 cents to $17.12 on 1.75 million shares and Silver X Mining Corp. (AGX) gained five cents to 84 cents on 1.49 million shares.

Geoff Hampson's Soma Gold Corp. (SOMA) stood out with its 30.5-cent decline to $1.435 on 1.52 million shares, but it did so with a production update and a look ahead. The "substantial progress in stabilizing operations and positioning the company for accelerated growth" by Mr. Hampson and his crew apparently were swamped in the market's mind by the "series of operational and industry-wide challenges" that Soma faced.

David Greenway's Giant Mining Corp. (BFG) was unchanged at eight cents on 1.38 million shares on word that it has acquired an option to earn a 100-per-cent interest in the Redhill property, in the Kamloops district of British Columbia. To do so, Giant must make staged payments of $915,000 in cash across 10 years -- $500,000 of it due in the final year -- and it must spend $900,000 on exploration over a five-year period.

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