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by Stockwatch Business Reporter

New York spot gold fell $1.60 to $1,231.60 on Thursday. The TSX Venture Exchange rose 4.80 points to 646.62 while the TSX Gold Index dipped 8.59 points to 159.43. Goldcorp Inc. (G) took a big hit today, dropping $2.50 to $11.09 on 21.89 million shares on word that it now has 52.8 million ounces of gold reserves. New Gold Inc. (NGD) bucked the trend, adding 14 cents to $1.04 on 7.95 million shares on word that it lost $165.8-million (U.S.) in its third quarter.

Clive Johnson's B2Gold Corp. (BTO), down 24 cents to $3.31 on 6.76 million shares, says it has "positive results" from a mill expansion study of its Fekola gold mine in Mali. The company also has an updated resource estimate that shows a "substantial increase" in the amount of gold available, which will presumably support the expansion plan. The company now lists 92.8 million tonnes indicated at 1.92 grams per tonne and 26.5 million tonnes inferred at 1.61 grams per tonne, for a total of 7.1 million ounces of gold. The old estimate listed 59.2 million tonnes at 2.08 grams per tonne and 4.2 million tonnes inferred at 1.69 grams per tonne; a total of about 4.2 million ounces.

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