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by Stockwatch Business Reporter

New York spot gold fell $1.90 to $1,238.40 on Friday. The TSX Venture Exchange gained 6.50 points to 603.94 while the TSX Gold Index gained 4.42 points to 197.10. Canadian miners were up again today, with Goldcorp Inc. (G) adding 75 cents to $22.24 on 7.63 million shares. Kirkland Lake Gold Inc. (KGI) lost 11 cents to $8.57 on 920,000 shares.

David Palmer's Probe Metals Inc. (PRB), up four cents to 70 cents on 314,000 shares, intends to merge with Marco Gagnon's Adventure Gold Inc. (AGE: $0.275). The transaction will create a "new, leading gold explorer and developer," they say, although from most perspectives it is an acquisition by Probe. All of Probe's directors will carry on with the new entity and Mr. Palmer will remain president and chief executive officer, while Jamie Sokalsky will continue as the company's chairman. Mr. Gagnon, president and CEO of Adventure, will join the expanded Probe as executive vice-president. Despite the one-sided management shuffle, Adventure's shareholders will control 47 per cent of the expanded company if they accept the offer of 0.39 share of Probe for each Adventure share.

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