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 lost $9.30 to $1,198 Monday, falling as the U.S. dollar rallied against the euro, and China reported drops in both its exports and imports. China will release its first-quarter GDP report later this week. Here in Canada, the TSX Venture Exchange fell 3.26 points to 695.62 and the TSX Gold Index fell 1.70 points to 164.17.

Major Canadian gold miners ended the day mostly down. Agnico Eagle Mines Inc. (AEM) dropped 73 cents to $36.63, Barrick Gold Corp. (ABX) lost 36 cents to $15.59 and Goldcorp Inc. (G) lost 18 cents to $24.11, while Detour Gold Corp. (DGC) added nine cents to $11.55.

John McCluskey's Alamos Gold Inc. (AGI) rose 49 cents to $7.90 on 5.26 million shares, after announcing a $1.5-billion merger with Scott Perry's AuRico Gold Inc. (AUQ), up 31 cents to $4.09 on 12.82 million shares. The companies are interested in combining gold production from Alamos's Mulatos mine in Mexico and AuRico's Young-Davidson mine in Ontario, which together are projected to produce 425,000 ounces of gold this year. The merged company also would have $427-million in cash and a handful of development-stage projects. Alamos hopes to begin building a $200-million gold mine at its Agi Dagi and Kirazli properties in Turkey, where complaints by anti-development groups have delayed permitting for the last two years. Alamos is also working on expanding gold resources at its Esperanza project in Mexico and its Quartz Mountain project in Oregon.

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