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by Stockwatch Business Reporter

New York spot gold fell $3.30 to $1,196.20 on Friday. The TSX Venture Exchange rose 2.50 points to 712.06 while the TSX Gold Index added 0.69 point to 152.66. Beleaguered Tahoe Resources Inc. (THO), in dire need of some good news, got some today, sending its stock up 34 cents to $3.76 on 7.09 million shares. The company has resumed mining at La Arena in Peru after negotiations ended a protest by the locals. Tahoe had taken its latest hit earlier this week, when a Guatemalan court yanked its licence for the Escobal project, pending additional talks with the locals.

Werner Claessens and Robert Wares's Komet Resources Inc. (KMT), down one cent to 22 cents on 61,000 shares, has received new assays from the Kabaya prospect on the Dabia South property in western Mali. The 38 stepout and infill holes, which extended the drilling north and south of the Kabaya Main zone and tested the Kabaya Southwest zone, produced assays of up to 1.63 grams of gold per tonne over 17 metres in an infill test and 1.26 grams per tonne over 33 metres in a stepout hole north of Kabaya Main. Mr. Claessens, president and chief executive officer, says that the latter hit may be a "new zone of economic gold mineralization" in the northern part of the prospect.

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