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by Stockwatch Business Reporter

New York spot gold fell -- egad! -- $111.90 to $3,997.70 on Wednesday. The TSX Venture Exchange lost 24.71 points to 897.75 while the TSX gold index lost 31.06 points to 755.59. Precious metals miners endured another rough day. Americas Gold and Silver Corp. (USA) fell 49 cents to $6.49 on 2.73 million shares, while China Gold International Resources Corp. (CGG) had another down day, falling $1.23 to $22.73 on 96,000 shares.

Gregory Lang's Novagold Resources Inc. (NG), a $3 stock in early 2024 that came within a hair of $20 early this year thanks to bullion's bull run, lost $1.48 to $8.80 on 1.8 million shares today. Novagold is doggedly pursuing development of its mammoth Donlin gold project in southwestern Alaska, claiming that "momentum has accelerated" throughout its second quarter, marked by "significant progress across all primary workstreams." Mind you, without several billion dollars to build a mine, these workstreams are trickles leading to an update of a bankable feasibility study that has not yet made it back from the bank.

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