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by Stockwatch Business Reporter

New York spot gold slid $61.70 to $2,329.50 on Monday. The TSX Venture Exchange lost 0.96 point to 566.07, while the TSX gold index fell 12.63 points to 301.70. Canadian-listed gold miners, so reluctant to gain ground as bullion soared to record highs of late, eagerly retreated today. Aya Gold & Silver Inc. (AYA) fell $1.37 to $13.43 on 933,000 shares, while Kinross Gold Corp. (K) lost 45 cents to $8.86 on 17.13 million shares. Novagold Resources Inc. (NG) also took a hit, falling 42 cents to $3.82 on 521,000 shares.

Dr. Roger Moss's Labrador Gold Corp. (LAB) crashed six cents to 14 cents on 2.78 million shares on word that it is selling its Kingsway gold project, west of Gander in north-central Newfoundland, to Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG). New Found is of course Labrador's senior-ranking royal neighbour at Queensway, immediately to the southwest. Dr. Moss, Labrador Gold's president and chief executive officer, enthusiastically supports the arrangement, that will see his shareholders share $20-million of New Found's stock.

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