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by Stockwatch Business Reporter

New York spot gold closed down $2.30 to $1,083.90 on Thursday. The TSX Venture Exchange fell 5.69 points to 522.73 while the TSX Gold Index lost 1.10 points to 123.05. Most Canadian gold miners lost ground today, led by New Gold Inc. (NGD), which dropped 18 cents to $2.91 on 6.18 million shares. Barrick Gold Corp. (ABX) led the few gainers, adding 40 cents to $10.06 on 8.04 million shares. Barrick said today that it plans to sell "a number of its non-core assets" in Nevada for $720-million (U.S.).

Mark Backens and Arturo Bonillas's Timmins Gold Corp. (TMM), up one cent to 20.5 cents on 1.90 million shares, has received assays of up to 8.33 grams of gold over 122 metres at its Ana Paula project in Guerrero, Mexico. The assays are from a recent seven-hole, 1,400-metre confirmation and infill drilling program. Mr. Bonillas, president, and Mr. Backens, interim chief executive officer since the company fired Bruce Bragagnolo in early October, say that the confirmation drilling results "were consistent with those from previous programs," while the infill drilling results "were very encouraging." (The infill drilling apparently fared better than the confirmation tests.)

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