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by Stockwatch Business Reporter

New York spot gold gained $7.20 to $1,363.40 on Wednesday. The TSX Venture Exchange rose 7.56 points to 757.65 while the TSX Gold Index added 7.19 points to 275.83. Most Canadian gold miners moved higher today, led by Kirkland Lake Gold Inc. (KGI), which added $1.08 to $12.28 on 2.30 million shares. It gained 60 cents Monday. Barrick Gold Corp. (ABX) was also strong. It gained 91 cents to $30.03 on 10.69 million shares.

Scott Perry's Centerra Gold Inc. (CG), down 65 cents to $7.45 on 15.43 million shares and Jacques Perron's Thompson Creek Metals Co. Inc. (TCM), up nine cents to 73 cents on 15.16 million shares, have agreed to merge. (The arrangement, through which Thompson Creek's shareholders will receive one Centerra share for each 9.88 Thompson shares, will give them an approximate 8-per-cent interest in the expanded Centerra.) Mr. Perry, Centerra's chief executive officer, called the takeover a "highly compelling transformative transaction" that diversifies the company's assets and provides low-risk production and cash flow from Thompson's Mount Milligan gold and copper mine in British Columbia. Mount Milligan, which hosts a reserve of 5.7 million ounces of gold and 2.19 billion pounds of copper, has a projected life of over 20 more years.

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