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by Stockwatch Business Reporter
Tuesday began well for bullion but by the end of the day New York spot gold was down $45.10 to $3,378.30. The TSX Venture Exchange dipped 0.12 point to 630.80 on what was otherwise a good day for North American markets. The TSX gold index, however, fell 9.46 points to 485.49. Some golds did well, especially if they had a copper component. First Quantum Minerals Ltd. (FM) rose 66 cents to $16.66 on 4.41 million shares while Altius Minerals Corp. (ALS) added $1.08 to $25.58 on 390,000 shares. Torex Gold Resources Inc. (TXG) was among those southbound today, as it fell $2.72 to $45.89 on 705,000 shares.
With gold's recent surge, some long-slumbering elephants are showing signs of life. Barrick Gold Corp. (ABX) is selling its 50-per-cent interest in the gargantuan Donlin gold project in southwestern Alaska to John Paulson's Paulson Advisers LLC and Thomas Kaplan and Greg Lang's Novagold Resources Inc. (NG) for $1-billion (U.S.) in cash. Novagold, which owned the other 50-per-cent interest, will see its share grow to 60 per cent. Better yet, it will have an eager co-venturer.
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