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by Stockwatch Business Reporter

New York spot gold fell $15.80 to $1,232.20 on Friday. The TSX Venture Exchange lost 2.20 points to 656.18 while the TSX Gold Index lost 4.93 points to 202.68. Canadian gold stocks followed bullion lower today, although Alacer Gold Corp. (ASR) did add 10 cents, closing at $2.88 on 9.08 million shares. Detour Gold Corp. (DGC) led the retreat, dropping $1.06 to $24.20 on 1.75 million shares.

Phillip Walford and George Faught's Marathon Gold Corp. (MOZ) lost 3.5 cents to 22 cents on 795,000 shares after a brief halt pending news. The news is that the company is offering up to $2-million of flow-through shares at 27 cents and regular shares at 23 cents. (The underwriter, Canaccord Genuity Corp., has an option to sell an additional $1-million worth of stock.) Mr. Walford, president and chief executive officer, and Mr. Faught, chairman, say the cash is for Canadian exploration projects, in particular its Valentine Lake gold project in west-central Newfoundland.

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