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Gold Summary for Dec. 7, 2016

2016-12-07 20:11 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold gained $4 to $1,173.30 on Wednesday. The TSX Venture Exchange gained 1.77 points to 749.97 while the TSX Gold Index rose 1.77 points to 194.09. Detour Gold Corp. (DGC) had a good day, gaining 70 cents to $19.19 on 2.38 million shares. Franco Nevada Corp. (FNV) struggled, falling 49 cents to $75.25 on 1.59 million shares.

Quentin Yarie's Red Pine Exploration Inc. (RPX), down one-half cent to 9.5 cents on 1.88 million shares, has received assays of up to 3.32 grams of gold per tonne over 45.08 metres at its Wawa gold project in Northern Ontario. (Red Pine has a 30-per-cent interest, but that will soon double as the company is acquiring one of its two partners: Augustine Ventures Inc. (WAW: $0.095) in a stock deal. The other partner, Citabar LP, holds a 40-per-cent interest.) The new assays are from old core samples obtained over the years from the Surluga deposit on the Wawa property. Red Pine is retesting samples from 42,000 metres of historic core, obtained from 318 underground and 119 surface holes.

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