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by Stockwatch Business Reporter

New York spot gold rose $3.20 to $1,199.50 on Thursday. The TSX Venture Exchange fell 3.59 points to 709.56 while the TSX Gold Index added 0.15 point to 151.97. Beleaguered Tahoe Resources Inc. (THO), $22 two years ago, continued its losing ways today, dropping 14 cents to $3.42 on 3.01 million shares. The latest in a series of declines began Tuesday, when a Guatemalan court yanked away the licence for the company's Escobal project, pending additional government consultations with the locals. Torex Gold Resources Inc. (TXG) had a good day, adding 36 cents to $9.13 on 620,000 shares.

Rob McEwen's McEwen Mining Inc. (MUX), up eight cents to $2.69 on 387,000 shares, has begun a $5-million drill program at its Gold Bar project in Nevada. The new drilling is designed to further expand the resource, which the company has just updated. Gold Bar now contains 24.5 million tonnes measured and indicated at 0.92 gram per tonne, and 6.8 million tonnes inferred at 0.90 gram per tonne, or just under 920,000 ounces. Most of the gold resides in the Gold Bar deposit, the rest is within Gold Bar South.

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