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by Stockwatch Business Reporter

New York spot gold closed up $2.10 to $1,223.50 Friday, ending the week up $36. The TSX Venture Exchange added 3.31 points to 695.31, while the TSX Gold Index slipped a fraction to 170.48.

Gold miners in Canada ended the day inconsistently. Barrick Gold Corp. (ABX) lost one cent to $15.80, Goldcorp Inc. (G) dropped 17 cents to $23.32, Agnico Eagle Mines Ltd. (AEM) dropped 46 cents to $40.29 and Yamana Gold Inc. (YRI) edged up one cent to $4.78.

Sean Roosen's Osisko Gold Royalties Ltd. (OR) climbed 30 cents to $17.05 on 15.47 million shares. The company earned $10.2-million on revenue of $10.6-million in the first quarter, thanks to its 5-per-cent royalty on the Malartic gold mine in Quebec. Osisko Gold also has a sliding-scale royalty on Goldcorp's Eleonore gold mine in Quebec, but this will not start generating revenue until the third quarter. The company acquired the royalty in February, taking over Andre Gaumond's Virginia Mines Inc. for $461-million in shares. Mr. Gaumond has since joined Osisko Gold to lead exploration. He is entitled to $350,000 a year in salary, while chief executive Roosen is entitled to $450,000.

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