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by Stockwatch Business Reporter

New York spot gold rose $20.60 Thursday, closing at $2,735.40. The TSX Venture Exchange added 8.35 points to 621.07 while the TSX gold index dropped 14.14 points to 396.95. Most Canadian gold miners took a hit today, parting ways with bullion. Newmont Corp. (NGT) slumped $11.77 to $68.19 on 1.59 million shares on word of its third quarter financials. The company had its best earnings before interest, taxes, depreciation and amortization in two years, but it was not good enough for investors. On the other hand, Galiano Gold Inc. (GAU) managed an eight-cent gain to $2.49 on 960,000 shares without benefit of news.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) was in the news, reporting a bonanza-grade hit in the Pistachio zone of Kingsway, in central Newfoundland. Two holes drilled last year mustered pedestrian intercepts at Pistachio, including one that averaged 5.17 grams of gold per tonne across seven metres. Those two hits occurred downplunge of today's intercept, which returned 104.62 grams of gold per tonne across 2.1 metres. (It did so thanks to a 0.75-metre portion that assayed 290.73 grams per tonne, so the other 1.35 metres ran just 1.23 grams of gold per tonne.)

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