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 closed up $6.20 to $1,227.90 Friday, as the U.S. dollar fell after some negative economic reports. The United States Labor Department said import prices fell last month, thanks to falling energy prices, and the University of Michigan said consumer sentiment has dropped this month, after hitting an 11-month high in January. Here in Canada, the TSX Venture Exchange added 4.07 points to 696.51 and the TSX Gold Index added a fraction to 180.32.

Gold miners in Canada ended inconsistently. Goldcorp Inc. (G) rose 23 cents to $29.35, Eldorado Gold Corp. (ELD) rose nine cents to $6.15, Barrick Gold Corp. (ABX) slipped three cents to $15.12 and Iamgold Corp. (IMG) lost 11 cents to $2.80.

Tom Kaplan's NovaGold Resources Inc. (NG) rose two cents to $4.94 on 252,000 shares. The company has released a short film about the Kuskokwim people of Alaska. It is the first in a four-part video series about Yu'pik culture, and part of what chairman Kaplan says is required to maintain NovaGold's "social licence." The company has $150-million in working capital and would like to build a $7-billion gold mine at its Donlin Gold project in Alaska. Donlin is big with 39 million ounces of gold, proven and probable, and 45 million ounces, measured, indicated and inferred. Barrick is NovaGold's 50-per-cent joint venturer, and the JV budgets $24-million on permitting this year. They are two years into a four-year permitting process, and while they work on environmental and government approvals, Mr. Kaplan is working on the local blessings. He is well versed in treacle speak, explaining that excellence in mining is not just about good production, it also, "encompasses . . . a great respect for community and traditional values." So far his talk of respect seems to be working. Not one of the local Indian bands is opposing the project, and they are even supporting the company's plan to build a $1-billion pipeline to the site.

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