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by Stockwatch Business Reporter

New York spot gold rose $1.20 to $1,232.80 on Friday. The TSX Venture Exchange fell 3.04 points to 643.58 while the TSX Gold Index added 1.84 points to 161.27. Goldcorp Inc. (G) which fell $2.50 yesterday, reclaimed 49 cents today, closing at $11.58 on 11.72 million shares. Barrick Gold Corp. (ABX) was strong as well. It rose 41 cents to $16.84 on 7.63 million shares. Eldorado Gold Corp. (ELD) was not: It fell six cents to 98 cents on 5.46 million shares.

Rob Humphryson and Quinton Hennigh's Novo Resources Corp. (NVO), down 35 cents to $2.58 on 847,000 shares, has received the first batch of results from bulk sampling at its 80-per-cent-owned Comet Well joint venture, a part of its Karratha gold project in Western Australia. Individual batches ranged as high as 10.4 grams of gold per tonne over 7.4 tonnes of rock from the core of the Lower Cannonball conglomerate, but they also ranged as low as 0.01 gram per tonne in areas above that core zone. Mr. Hennigh, chairman and president, says that the company believes the Lower Cannonball conglomerate may be a major zone of interest that will require more work. Mr. Hennigh and his crew caution investors that this variability in the grade of conglomerate bulk samples is a function of the number of nuggets in each sample and is therefore to be expected.

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