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by Stockwatch Business Reporter

New York spot gold gained $3.70 to $1,204.50 on Friday. The TSX Venture Exchange added 10.34 points to 799.19 while the TSX Gold Index rose 4.83 points to 201.74. Endeavour Mining Corp. (EDV) was strong among Canadian gold miners today. It added $1.36 to $23.84 on 751,000 shares.

Donald Charter and Stephen Letwin's Iamgold Corp. (IMG), up 29 cents to $4.94 on 5.91 million shares, is offering $400-million (U.S.) of senior notes at face value. (The sale of the notes, which will bear interest at 7 per cent yearly, is expected to close next week.) Carol Banducci, executive vice-president and chief financial officer, says the financing reduces the company's long-term debt. Extending it would be a more accurate description, as Iamgold will use the cash raised to redeem most of the $489-million (U.S.) in senior notes that come due for repayment in the fall of 2020. (The new notes would come due in 2025.)

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