This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold fell $8.00 to $1,172.20 on Friday. The TSX Venture Exchange lost 2.82 points to 791.44 while the TSX Gold Index fell 7.79 points to 204.61. Most Canadian miners fell today. Thursday's big gainer, Torex Gold Inc. (TXG), led today's retreat. It lost 92 cents to $25.83 on 1.47 million shares. McEwen Mining Inc. (MUX) fell 34 cents to $4.63 on 1.30 million shares.

Dan Omeniuk and Bert McPherson's MX Gold Corp. (MXL), up one-half cent to 15 cents on 2.10 million shares, is acquiring the Bonaparte gold project near Kamloops in British Columbia from Matt Wayrynen's Westkam Gold Corp. (WKG: $0.03) for 40 million shares. Mr. Omeniuk, MX Gold's $120,000-a-year chairman and chief executive officer, says the purchase is a "strategic step forward," as the agreement "will be adding potential value" to his company. Two weeks ago, MX Gold agreed to spend $650,000 on exploration to earn a 5-per-cent sliver of Bonaparte. Mr. Omeniuk also called that arrangement a strategic step forward, adding value to his company. Presumably his latest strategy is more of a leap than a step, although investors apparently did not see much added value today.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS