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by Stockwatch Business Reporter

New York spot gold closed up $13.80 to $1,207.30 Friday, ending the week up $5. The TSX Venture Exchange rose 7.88 points to 698.88 and the TSX Gold Index rose 3.76 points to 165.87.

Major Canadian gold miners had an up day. Eldorado Gold Corp. (ELD) added 19 cents to $6.10, Goldcorp Inc. (G) rose 63 cents to $24.29, Barrick Gold Corp. (ABX) gained 32 cents to $15.95 and Agnico Eagle Mines Ltd. (AEM) gained $1.09 to $37.36.

Andrew Thompson's Soltoro Ltd. (SOL) rose 8.5 cents to 29.5 cents on 4.75 million shares, after receiving a $31.6-million (32.5-cent-a-share) takeover bid from Agnico Eagle. The larger miner is interested in acquiring Soltoro's five gold-silver properties in Jalisco state, Mexico. Soltoro has three more, but they are in the less desirable states of Chihuahua, Hidalgo and Queretaro, so Agnico will spin them to a new company along with $2-million. This is good news for president Thomson. He has been struggling for four years to raise money for exploration by trying to assure investors that Soltoro's properties are all in safe areas. The Jalisco projects are especially safe (by Mexican standards at least), off a main road three hours from Puerto Vallarta.

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