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by Stockwatch Business Reporter

New York spot gold rose $5.50 Tuesday, closing at $2,364.10. The TSX Venture Exchange dropped 2.49 points to 575.57 while the TSX gold index lost 0.01 point to 334.05. Endeavour Silver Corp. (EDR) had a tough day, dropping 20 cents to $5.41 on 1.91 million shares despite second quarter results being in line with guidance. Investors preferred the second quarter posted by Jaguar Mining Inc. (JAG), as it added 15 cents to $2.98 on 144,000 shares.

Rob Bergmann's Relevant Gold Corp. (RGC) was unchanged at 32.5 cents on 10,000 shares on word it has closed its sale of 5.1 million shares at 30 cents to Kinross Gold Corp. (K: $11.72), raising $1.53-million. This is the tail end of a financing arranged in early May, in which Relevant was offering 10 million shares at 25 cents apiece, seeking $2.5-million. Late in June, the company had sold 5.78 million of the shares, raising $1.44-million, but called it a first tranche, with a "second follow-on closing" to occur in early July.

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