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by Stockwatch Business Reporter

New York spot gold closed down $12.40 to $1,115.30 on Wednesday. The TSX Venture Exchange gained 0.94 point to 524.57 while the TSX Gold Index gained 2.43 points to 123.98. Gainers dominated the list of Canadian gold miners today. Eldorado Gold Corp. had a strong day and was most active, gaining 24 cents to $4.28 on 8.18 million shares. Struggling Iamgold Corp. (IMG) also fared well in active trading, gaining 10 cents to $2.18 on 2.2 million shares.

Guy Goulet and Noureddine Mokaddem's Maya Gold and Silver Inc. (MYA) lost one-half cent to 18 cents on 333,000 shares. The company has sold 1.43 million shares at 28 cents, raising $400,000 for exploration and development at its Zgounder silver project in Morocco, and for working capital. Zgounder hosts an old mine -- it closed in 1990 -- and has a historical underground resource of 870,000 tonnes of 405 grams of silver per tonne. Another 500,000 tonnes averaging 125 grams per tonne lie within tailings piles and there are 66,000 tonnes of "ancient residues" that average 325 grams per tonne. A 5,864-metre drill program this summer has yielded up to 1,098 grams of silver per tonne over 10 metres, and the company believes it has extended a high-grade zone to the east and at depth at the Main and North zones.

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