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by Stockwatch Business Reporter

New York spot gold rose $25.20 to $2,276.30 on Tuesday. The TSX Venture Exchange rose 1.05 points to 570.52 while the TSX gold index gained 2.65 points to 297.79. Jaguar Mining Inc. (JAG) did well, adding 11 cents to $2.79 on 153,000 shares. K92 Mining Inc. (KNT) did better, adding 37 cents to $6.74 on three million shares, but it had news to nudge it along -- word that it earned $33.2-million (U.S.) last year. China Gold International Resources Corp. (CGG) on the other hand lost 17 cents to $8.48 on 16,000 shares.

Bruce McLeod and Gilbert Clark's Meridian Mining UK Societas (MNO) said late yesterday that it was selling 42.86 million shares at 35 cents in a bought-deal financing. Before the open today, it juiced the sale to 50 million shares, increasing the proceeds to $17.5-million from the intended $15-million. This upsize is not to be confused with the accompanying greenshoe option, through which the underwriters can buy an additional 7.5 million shares. Meridian lost 3.5 cents to 36 cents on 1.87 million shares today.

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