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by Stockwatch Business Reporter
New York spot gold closed down 60 cents to $1,223 Friday, as the U.S. dollar resumed its climb. The TSX Venture Exchange lost 9.69 points to 827.13 and the TSX Gold Index slipped 3.08 points to 162.60.
Bigger Canadian gold miners had another down day. Goldcorp Inc. (G) dropped 35 cents to $26.05, Barrick Gold Corp. (ABX) lost 48 cents to $15.11, Yamana Gold Inc. (YRI) lost 13 cents to $6.35 and Eldorado Gold Corp. (ELD) fell 17 cents to $8.17.
John Toffan's Ascot Resources Ltd. (AOT) gained 15 cents to $2.10 on 239,000 shares. The stock has climbed from 90 cents in August, boosting the value of Mr. Toffan's 7.9 million shares by $9.4-million to $16.67-million. He has not sold a single share. The Ascot excitement is over assays from the contiguous Premier and Dilworth gold properties near Stewart, B.C. The Premier/Dilworth project is close to Pretium Resources Inc.'s (PVG: $5.53) Brucejack gold deposit, and recent drill results have touts and tipsters speculating that the two could be similar. Brucejack currently has over seven million ounces of proven and probable gold. Ascot has been trying to interest investors with drill results from Premier/Dilworth for the past seven years. It optioned the properties in 2007 from Swedish miner Bolliden, and has since spent over $25-million as it works toward earning a 100-per-cent interest. It has $13-million left to go, at which point Bolliden will retain an NSR royalty.
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Why do idiots think that putting a number of good expensive things together in one bun is a "must have". probably tastes like crap.