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by Stockwatch Business Reporter

New York spot gold rose $7.20 Wednesday, taking its afternoon nap at $3,354.50. The TSX Venture Exchange lost 2.14 points to 786.46 while the TSX gold index fell 4.22 points to 565.12. Endeavour Silver Corp. (EDR) led the retreat, dropping 37 cents to $7.55 on 4.34 million shares on its second quarter results.

Nick Horsley's Hi-View Resources Inc. (HVW) leapt seven cents to 22 cents on 451,000 shares on word it is acquiring two gold projects in the Toodoggone area of British Columbia from Eagle Plains Resources Ltd. (EPL: $0.15). Hi-View is acquiring the Saunders and Nub properties in exchange for $70,000 in cash, 350,000 shares and a 3-per-cent royalty. Saunders lies just east of the Lawyers deposit, being worked by Thesis Gold Inc. (TAU: $1.07), while Nub is about 20 kilometres farther east.

Mr. Horsley, chief executive officer, was pleased. The acquisition of the Saunders and Nub projects "further strengthens our position in British Columbia's prolific Toodoggone district," he glowed, deeming Saunders to be "strategically located along a well-established geological corridor" hosting numerous high-grade gold-copper deposits. This proven setting, combined with encouraging historical data, he gushed, "gives us strong geological conviction as we move into our next phase of exploration." As for woebegone Nub, well, he said little.

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