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Gold Summary for April 14, 2016

2016-04-14 21:11 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold slipped $14.80 to $1,227.60 on Thursday. The TSX Venture Exchange gained 3.70 points to 625.42 while the TSX Gold Index slipped 5.61 points to 196.44. Most gold miners were down today. Barrick Gold Corp. (G) fell 75 cents to $19.81 on 10.77 million shares, while Kinross Gold Corp. (K) fell 26 cents to $5.30 on 17.89 million shares.

Albert Matter and James Anderson's NuLegacy Gold Corp. (NUG), up one cent to 22 cents on 585,000 shares, has sold 47.66 million shares to Oceanagold Corp. (OGC: $3.99) at 14 cents. Mr. Matter, NuLegacy's chairman, says that the $6.67-million raised provides the company "with the funds and additional expertise to rapidly expand the Iceberg gold deposit" in Nevada. (The expertise he mentions is apparently the one director Oceanagold gets to appoint to NuLegacy's board and the one member it gets to add to NuLegacy's technical committee. As well, Oceanagold can participate in future placements and increase its stake in the company to 19.9 per cent.)

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