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by Stockwatch Business Reporter
New York spot gold slid $36.50 to $2,916.80 on Tuesday. The TSX Venture Exchange lost 10.2 points to 616.63 while the TSX gold index fell 4.33 points to 400.54. Oh, where to start: Avino Silver & Gold Mines Ltd. (ASM) fell 18 cents to $1.78 on 794,000 shares despite a three-week silence, while Jaguar Mining Inc. (JAG) lost 21 cents to $2.59 on 219,000 shares on a one-week silence. On the other hand, New Found Gold Corp. (NFG) added 10 cents to $2.65 on 1.06 million shares as a delayed reaction to Monday news.
Calibre Mining Corp. (CXB) lost 12 cents to $2.85 on 28.49 million shares, presumably because Equinox Gold Corp. (EQX) fell 43 cents to $9.27 on 5.75 million shares. On Sunday, Equinox and Calibre applauded a merger plan that would have Equinox offer 0.31 of a share for each share of Calibre. Usually, the acquirer takes a market hit while the object of its desire soars, but without any premium included in the conversion ratio, both Calibre and Equinox took the beating.
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