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by Stockwatch Business Reporter

New York spot gold lost $11.60 to $2,161.90 on Thursday, while the TSX Venture Exchange fell 5.61 points to 549.47. The TSX gold index followed bullion lower, dropping 2.77 points to 274.82. Most Canadian gold miners moved lower today, with First Quantum Minerals Ltd. (FM) dropping 80 cents to $14.06 on 6.3 million shares. China Gold International Resources Corp. (CGG) was northbound without aid of news, as it rose 33 cents to $7.76 on 15,000 shares.

Greg McKenzie's Silver Storm Mining Ltd. (SVRS) fell 1.5 cents to 10.5 cents on 271,000 shares on word that the company is offering 18.2 million shares at 11 cents. It is seeking $2-million for further drilling at La Parrilla in Durango, Mexico, and for technical studies regarding a potential mining restart next year. The proposed drilling would be a follow-up to recent assays from the C460 zone, where the company intersected high-grade near-surface mineralization with up to 1,151 grams of silver and 0.13 gram of gold per tonne plus 13.83 per cent lead and 10.18 per cent zinc.

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