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by Stockwatch Business Reporter

New York spot gold tumbled $114.30, ending the week at $4,536.70. The TSX Venture Exchange slid 26.24 points to 988.83 while the TSX gold index slumped 62.56 points to 855.59. Precious metals miners tumbled -- if not crumbled -- today. Americas Gold and Silver Corp. (USA) dropped 85 cents to $8.96 on 13.71 million shares despite record first quarter production and sales. Agnico Eagle Mines Ltd. (AEM) dropped $16.44 to $247.83 on 2.03 million shares.

Gerald Panneton's Gold Terra Resource Corp. (YGT) lost one-half cent to 19.5 cents on 508,000 shares on an updated resource estimate for its Yellowknife project in the Northwest Territories. The company now lists 729,000 tonnes indicated at 4.39 grams of gold per tonne and 7.53 million tonnes inferred at 3.69 grams per tonne, a total of 998,000 ounces of gold. Most of the gold -- 595,000 ounces -- is inferred underground in the Zone 103N deposit, while Yellorex has 222,000 underground ounces, mainly inferred. The third deposit, Crestaurum, is home to 201,000 ounces, 131,000 of which are amenable to open-pit mining.

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