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by Stockwatch Business Reporter

New York spot gold fell $42.60 to $2,873.40 on Thursday. The TSX Venture Exchange lost 14.02 points to 615.84 while the TSX gold index shed 11.54 points to 396.72. Serabi Gold PLC (SBI) took a hit today, dropping 34 cents to $3.05 on 151,000 shares without news. Mind you, there had also been silence during Serabi's ascent from the $2.50 mark, a gain that began last week. Endeavour Mining PLC (EDV), $32.80 a week ago, fell $1.82 to $28.72 on 1.62 million shares today.

First Quantum Minerals Ltd. (FM) bucked the downdraft, adding 41 cents to $18.15 on 6.97 million shares. There is nothing new today -- not even in the rumour mill. Word circulated early yesterday that the company is looking to reopen its Panama copper and gold mine, which the government forced to close over a year ago. After huffing and puffing lawyerly about the matter, the company has now taken a low-profile approach to get the locals on its side. It may work: Panama does have a pressing problem these days -- dealing with threats about its canal -- so it could use its share of profits from the mine.

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