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by Stockwatch Business Reporter

New York spot gold gained $20.30 to $1,334.90 on Wednesday. The TSX Venture Exchange rose 10.08 points to 813.29 while the TSX Gold Index added 15.80 points to 252.24. Agnico Eagle Mines Ltd. (AEM) led the rally, gaining $4.36 to $73.44 on 1.24 million shares. Alacer Gold Corp. (ASR) was the laggard. It dropped seven cents to $3.67 on 3.41 million shares.

Dan Omeniuk and Bert McPherson's MX Gold Corp. (MXL), up 1.5 cents to 28 cents on 1.57 million shares, is inching closer to starting its proposed drilling and test-pitting programs at the Willa and Max projects in southeastern British Columbia. The company, which got approval for a water discharge at Willa earlier this month, is now awaiting the approval of the geotechnical work. When that is received, MX Gold will be seeking permission to construct a settling pond and load-out pad. Mr. McPherson, the company's president for the past two months, says he is pleased with his crew's hard work in keeping the project on schedule, adding that he is working with the government to "maintain our program's momentum."

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