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by Stockwatch Business Reporter

New York spot gold gained 2.50 to $1,337.10 on Friday. The TSX Venture Exchange gained 1.40 points to 766.36 while the TSX Gold Index lost 2.14 points to 266.68. Most Canadian gold miners fell back today, led by Detour Gold Corp. (DGC), which fell $1.59 to $32.12 on 1.72 million shares. Alacer Gold Corp. (ASR) was one of the few gainers. It added five cents to $3.49 on 2.13 million shares.

Candace and Terrance MacGibbon's INV Metals Inc. (INV), up 25 cents to 85 cents on 1.29 million shares, has received a prefeasibility study of its Loma Larga gold project in Ecuador. The study, based on an 11-year mine running at 3,000 tonnes per day that would cost $286-million (U.S.) to build, projects Loma Larga with a discounted net present value of $300.9-million (U.S.) after taxes. The study replaces one completed early in 2015, based on a significantly smaller, 1,000-tonne-per-day mine. That proposal carried a discounted net present value of $154-million (U.S.) and put the cost of construction at $219-million (U.S.).

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