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by Stockwatch Business Reporter

New York spot gold rose $11.40 to $1,182.40 Friday, ending the week up $23, as the U.S. dollar dropped. In Canada the TSX Venture Exchange rose 3.50 points to 670.59 and the TSX Gold Index added 2.92 points to 164.78.

Canadian gold miners ended the day higher. Barrick Gold Corp. (ABX) gained 11 cents to $14.02, Goldcorp Inc. (G) gained 45 cents to $24.30, Iamgold Corp. (IMG) rose 12 cents to $2.66 and Detour Gold Corp. (DGC) added 58 cents to $11.48.

Ron Tremblay's Levon Resources Ltd. (LVN) dropped nine cents to 40.5 cents on 4.00 million shares, after the company revealed its new business plan: biotechnology. Levon has been a natural resources explorer since 1965, when Lou Wolfin founded the company as Alice Arm Mining Ltd. These days, the gold price is too low to warrant development of Levon's main gold project, Cordero, in Mexico. The company has over $40-million in working capital, 231 million shares outstanding and is planning to acquire SciVac Ltd., a private Israeli company that makes hepatitis B vaccines. SciVac is partly owned by Philip Frost, a medical doctor from Miami Beach, Fla., who owns 45 per cent of the stock through his Opko Health Inc. (OPK: $14.52 (U.S.)). Dr. Frost is also one of three American investors who bought 27 million Levon shares at 22 cents last fall. He also has two pharmaceutical takeovers behind him. In 1986 he sold Key Pharmaceuticals to Schering-Plough for $835-million and then in 2005 he sold Ivax to Teva Pharmaceuticals for $7.6-billion. Mr. Tremblay calls him, "the Warren Buffet of the biotech space."

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