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by Stockwatch Business Reporter

New York spot gold reclaimed $27.90 to $2,313.80 on Wednesday. The TSX Venture Exchange rose 4.43 points to 583.95 while the TSX gold index added 2.23 points to 312.21. Novagold Resources Inc. (NG) was strong today. It gained 19 cents to $4.19 on 422,000 shares. Barrick Gold Corp. (ABX) was not, as it dipped 36 cents to $22.52 on 6.57 million shares. Barrick's move follows word this morning that it earned $487-million (U.S.) in its first quarter and has declared a 10-cent quarterly dividend.

Another company with first quarter results did better on a weaker performance. New Gold Inc. (NGD) jumped 23 cents to $2.61 on 8.3 million shares on word it lost $43.5-million (U.S.) in its first quarter. Patrick Godin, president and chief executive officer, says that the quarter "went as planned for New Gold," adding that its New Afton mine delivered another strong operating quarter, while its Rainy River operation "made excellent progress" sequencing waste stripping to allow improved performance later this year. "We exit the quarter as planned, and are well positioned to meet our guidance," he concluded.

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