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by Stockwatch Business Reporter

New York spot gold gained $10.20 to $1,128.00 on Monday. The TSX Venture Exchange gained 0.74 point to 500.24 while the TSX Gold Index gained 2.41 points to 143.04. Most Canadian gold miners advanced, led by Detour Gold Corp. (DGC) which gained 57 cents to $17.61 on 2.09 million shares.

Scott Hand and Mark Selby's Royal Nickel Corp. (RNX) gained three cents to 19 cents on 2.22 million shares on word of two "transformative acquisitions." In one, the company will acquire VMS Ventures Inc. (VMS: $0.06), which owns a 30-per-cent interest in the producing Reed copper mine near Flin Flon. Royal Nickel is also acquiring a two-thirds interest in the private Salt Lake Mining Pty. Ltd., which owns Beta Hunt, a producing gold and nickel mine in Australia. VMS's shareholders get 36 million Royal Nickel and 30 million North American Nickel shares, plus $3.5-million in cash. Salt Lake's owners get 32.5 million Royal Nickel shares and $2.5-million in cash.

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