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by Stockwatch Business Reporter

New York spot gold fell $34.30 to close at $2,683.20 on Thursday, while the TSX Venture Exchange lost 4.72 points to 611.88 and the TSX gold index dropped 10.10 points to 364.59. Equinox Gold Corp. (EQX) helped lead the retreat, as it fell 84 cents to $8.23 on 2.3 million shares. Calibre Mining Corp. (CXB) was also down, and on one of its busier days, as it lost 14 cents to $2.38 on 12.18 million shares.

Jose Vizquerra's O3 Mining Inc. (OIII) leapt 59 cents to $1.65 on 28.38 million shares on word that it has agreed to a friendly takeover offer from Ammar Al-Joundi's Agnico Eagle Mines Ltd. (AEM). Agnico Eagle, which slid $2.46 to $121.30 on 1.4 million shares on the news, is offering $1.67 in cash for each share of O3 Mining -- a premium of 57 per cent. Agnico is after O3 for its Marban Alliance project near Val d'Or in Quebec, which is adjacent to Agnico's Canadian Malartic complex.

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