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by Stockwatch Business Reporter

New York spot gold fell $6.80 to $1,286.80 on Wednesday. The TSX Venture Exchange fell 7.70 points to 792.88 while the TSX Gold Index dipped 0.87 point to 217.71. Canadian golds were weaker today, although Osisko Gold Royalties Ltd. (OR) bucked the trend, gaining 65 cents to $17.31 on 2.26 million shares. The stock was already up over $2 this week on word it is buying a precious metals portfolio from Orion Mine Finance Group for $1.13-billion.

Darin Wagner's Balmoral Resources Ltd. (BAR), unchanged at 69 cents on 221,000 shares, has received assays of up to 6.23 grams of gold per tonne over 6.05 metres from the Bug Southeast zone on its Martiniere gold project in the Detour region of Quebec. Assays from four other holes produced gold but the grades were either lower, or the intervals were significantly shorter than the one promotable test. The wait for assays has been getting longer according to Mr. Wagner, president and chief executive officer, because of "exceptionally heavy sample inflows" at the ALS Minerals lab. Nevertheless, he says the final results from the winter and spring drill program are expected before the end of June.

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