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by Stockwatch Business Reporter
Good grief, it just keeps going! Yes, we used that line not long ago, but that was for bullion's northbound trip. New York spot gold slumped $165.50 Thursday, pausing for afternoon air at $4,652.20 after having been as low as $4,502 in the morning. The TSX Venture Exchange lost 39.45 points to 936.57, while the TSX gold index slumped 50.58 points to 812.13. Americas Gold and Silver Corp. (USA) helped lead the retreat, dropping 89 cents to $8.09 on 3.88 million shares. Avino Silver & Gold Mines Ltd. (ASM) also took a pounding, losing 90 cents to $7.76 on 4.57 million shares.
Rudi Fronk's Seabridge Gold Inc. (SEA) lost $2.90 to $34.10 on 456,000 shares. The company says that Tudor Gold Corp. (TUD) has abandoned its appeal of a decision by the British Columbia chief gold commissioner regarding Seabridge's right to tunnel across -- indeed, through -- Tudor's Treaty Creek deposit in northwestern British Columbia. The twin tunnels will allow Seabridge a throughway to its proposed plant from its massive KSM deposit. (The east and west sides of Seabridge's property are separated by Tudor's claims.)
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