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by Stockwatch Business Reporter

New York spot gold fell $0.40 to $1,327.40 on Monday. The TSX Venture Exchange gained 1.74 points to 813.90 while the TSX Gold Index added 7.58 points to 243.39. Most Canadian gold miners had a good day. Agnico Eagle Mines Ltd. (AEM) added $2.31 to $68.79 on 1.33 million shares and Alamos Gold Inc. (AGI) rose $1.22 to $11.47 on 2.22 million shares. Detour Gold Corp. (DGC) slid 15 cents to $29.09 on 2.46 million shares.

Christian Milau's Luna Gold Corp. (LGC), down two cents to 27.5 cents on 277,000 shares, has received a prefeasibility study of its Aurizona gold project in northeastern Brazil. The study put the discounted net present value of the project at $201-million (U.S.) after taxes for a $146-million (U.S.) mine. Mr. Milau, chief executive officer, says Aurizona represents a "robust, rapid pay-back, high margin, simple open-pit mining project that demonstrates strong returns in the current gold price environment" -- encouraging, in fewer words.

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