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by Stockwatch Business Reporter

New York spot gold fell $43.70 to $3,307.70 on Friday as the TSX Venture Exchange added 3.33 points to 721.6. The TSX gold index retreated 13.53 points to 490.1, leaving a sea of red across most of the precious metals sector. Equinox Gold Corp. (EQX), which fell 49 cents to $9.50 on 7.01 million shares, and Calibre Mining Inc. (CXB), which lost 18 cents to $3.31 on 12.1 million shares, were among those submerged, but Majestic Gold Corp. (MJS) kept afloat, adding one-half cent to 15 cents on 2.7 million shares. None of the three had news this month.

Among those with news today was Shawn Wallace's Torq Resources Inc. (TORQ). Torq rose one-half cent to seven cents on 104,000 shares on word it has sold 25.15 million shares at six cents apiece, raising $1.51-million. It has also issued two million shares to related creditors and 19.6 million to non-arm's-length creditors, settling $1.3-million in debt. The $2.8-million in "recapitalization transactions" -- $3.12-million if one includes the $310,000 previously advanced to the company in an aborted placement last fall -- spruces up the company's balance sheet significantly.

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