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by Stockwatch Business Reporter

New York spot gold rose $6.70 to $2,027.90 on Tuesday. The TSX Venture Exchange added 0.05 point to 551.36 while the TSX gold index added 6.42 points to 265.41. Eldorado Gold Corp. (ELD) led a small cadre of Canadian gold miners lower today, as it slipped 10 cents to $17.06 on 499,000 shares. McEwen Mining Inc. (MUX) kept it company with a four-cent drop to $8.82 on 19,000 shares.

Most miners moved northward today, although none with the oomph displayed by Iamgold Corp. (IMG). Iamgold leapt 47 cents to $3.58 on 7.82 million shares on word it produced 465,000 ounces of gold last year, hitting the upper end of its guidance. Even so, the real news -- at least that providing the most comfort -- is that commissioning of the Cote gold mine, southwest of Timmins in Northern Ontario, is "progressing well."

The Cote work currently under way, beams Renaud Adams, the company's president and chief executive officer, is "critical in order to position the project for a successful and steady ramp-up of gold production through the year." Yes, there are weasels sniffing about amid his enthusiasm, but the progress suggests that Cote will meet Iamgold's expectation that the mine will be Canada's third-largest producer.

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