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by Stockwatch Business Reporter

New York spot gold gained $3.60 to $1,324.40 on Friday. The TSX Venture Exchange gained 1.60 points to 778.45 while the TSX Gold Index dipped 1.45 points to 208.79. Most Canadian golds lost ground today, although Endeavour Mining Corp. (EDV) added eight cents to $24.88 on 324,000 shares on word that shareholders of Avnel Gold Mining Ltd. (AVK: $0.46) have approved a takeover by Endeavour. Agnico Eagle Mines Ltd. (AEM), was down 61 cents to $63.40 on 753,000 shares and Yamana Gold Inc. (YRI) dropped four cents to $3.65 on 3.57 million shares.

Chris Lodder's Barkerville Gold Mines Ltd. (BGM), down two cents to 88 cents on 607,000 shares, is selling 25 million flow-through shares at $1.12 through a bought-deal financing. (The price is a 29-per-cent premium to the company's recent average share price.) The $28-million is for exploration and development at Barkerville's Cariboo gold project in central British Columbia. The 211,000-hectare project hosts several old mines and developing prospects, but the clear focus now appears to be the Island Mountain deposit, which is likely to be the main beneficiary of the cash.

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