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by Stockwatch Business Reporter

New York spot gold fell $17.80 Wednesday, closing at $2,505.50. The TSX Venture Exchange lost 7.31 points to 565.72 while the TSX gold index dropped 6.55 points to 359.95. Nearly all Canadian-listed gold miners lost ground today. SSR Mining Inc. (SSRM) lost 35 cents to $6.94 on 647,000 shares while New Gold Inc. (NGD) shed 17 cents to $3.33 on 2.91 million shares and Ivanhoe Mines Ltd. (IVN) slid $1.06 to $17.93 on 3.65 million shares. Perseus Mining Ltd. (PRU) did manage a nine-cent gain, closing at $2.43 on 82,000 share, but the move followed word of its fiscal 2024 annual report.

Michael Michaud's Red Pine Exploration Inc. (RPX) jumped 3.5 cents to 12.5 cents on 7.45 million shares on word it has significantly increased its resource estimate for the Wawa gold project, near Wawa in Northern Ontario. The company lists 14.65 million tonnes indicated at 1.79 grams per tonne and 16.18 million tonnes inferred at 1.62 grams per tonne, a total of nearly 1.7 million ounces of gold. Most of those ounces -- just short of 1.5 million of them -- are in open-pittable rock in the Jubilee zone. The other 227,000 ounces lie deeper in the Minto zone, grading about four grams per tonne -- high enough to support underground mining.

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