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by Stockwatch Business Reporter

The New York spot gold market was closed for Independence Day. The TSX Venture Exchange lost 2.69 points to 764.05 while the TSX Gold Index fell 5.35 points to 189.51. Canadian gold miners lost ground again today. Agnico Eagle Mines Ltd. (AEM) led the retreat. It lost $2.18 to $56.30 on 404,000 shares. Yamana Gold Inc. (YRI) also retreated. It lost 12 cents to $3.01 on 3.74 million shares.

Quentin Yarie's MacDonald Mines Exploration Ltd. (BMK), down 1.5 cents to 10 cents on 239,000 shares, is acquiring the Soocana claims, adjacent to its Holdsworth property in Northern Ontario. To do so, MacDonald must issue four million shares to Nigel Lees's Sage Gold Inc. (SGX: $0.19). The 177-hectare property hosts two gold-bearing veins discovered in the 1930s by a prospecting duo that subsequently formed Soocana Mining Co. Channel samples in the 1930s produced up to 23.6 grams of gold per tonne over three metres and grab samples of waste rock collected in the 1980s yielded up to 124.49 grams of gold per tonne.

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