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by Stockwatch Business Reporter

New York spot gold gained $10.10 to $1,342.80 on Wednesday. The TSX Venture Exchange rose 8.10 points to 757.69 while the TSX Gold Index added 5.47 points to 270.68. Most Canadian gold miners recovered from yesterday's slump. Agnico Eagle Mines Ltd. (AEM) had a good day, gaining $2.97 to $73.73 on 1.38 million shares.

Neil Novak and George Duguay's Black Widow Resources Inc. (BWR), unchanged at six cents on 40,000 shares, intends to acquire the Little Stull Lake gold project in Northern Manitoba from Marcel Robillard's Puma Exploration Inc. (PUM: $0.085). To close the acquisition, Black Widow has agreed to pay $150,000 in cash and issue 10 million shares to Puma in staged payments over several years. Mr. Novak, Black Widow's president and chief executive officer, says he and his crew are "excited about this new exploration and development opportunity," adding that they are looking forward to working with Mr. Robillard, Puma's president and CEO, over the next several years. (Mr. Robillard has yet to say whether he is equally enthused about working with Mr. Novak.)

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