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by Stockwatch Business Reporter

New York spot gold rose $5.60 to $2,054.30 on Tuesday. The TSX Venture Exchange added 8.24 points to 564.42 while the TSX gold index dipped 0.19 point to 274.69. Jack Lundin's Lundin Mining Corp. (LUN) rose 15 cents to $10.82 on 1.09 million shares.

Lundin applauds a solid 2023 and it is setting its sights a bit higher for 2024. Gold production at Candelaria in Chile and Chapada in Brazil reached nearly 149,000 ounces last year, within the upper half of its guidance. For 2024, Lundin expects to produce between 155,000 and 170,000 ounces at the two mines. Diminishing production at Candelaria will eat into the company's gold haul thereafter and by 2026, Lundin expects between 140,000 and 155,000 ounces.

Shareholders of David Christie's Orford Mining Corp. (ORM) awoke to a pleasant surprise today, with word that John McCluskey's Alamos Gold Inc. (AGI) wants to acquire the company and its Qiqavik and West Raglan projects in northernmost Quebec, and Joutel in the Abitibi district. Orford jumped 4.5 cents to nine cents on 16.04 million shares on word that Alamos is offering 0.005588 share for each Orford share -- other than for the 61.7 million shares that it already owns. The offer represents a premium topping 100 per cent no matter how you calculate it.

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