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by Stockwatch Business Reporter

New York spot gold fell $3.60 to $1,238.10 on Friday. The TSX Venture Exchange fell 1.58 points to 555.38 while the TSX Gold Index dropped 4.33 points to 174.67. Detour Gold Corp. (DGC) slumped $1.06 to $10.02 on 2.1 million shares. The company said yesterday that its shareholders, led by Paulson & Co. Inc., had voted to remove five directors and replace them with five Paulson nominees. John Paulson called the coup "a major victory for all of Detour's shareholders," adding that he was looking forward to the company "creating value for all shareholders." The new crew has a lot of value creating to do to get back to Detour's 2016 high of nearly $36 -- or yesterday's high of $11.12.

Timothy Froude's Sokoman Iron Corp. (SIC) slid three cents to 14.5 cents on 14.33 million shares. The company has new assays from the Eastern Trend area of its Moosehead gold project in north-central Newfoundland. The assays, from five new holes, showed up to 124.2 grams of gold per tonne over 5.1 metres, a hit greatly aided by a 1.1-metre interval that averaged 550.3 grams per tonne. The four other holes were less impressive, with 2.76 grams per tonne over 12.4 metres in one. The bonanza-grade hit occurred 35 metres up dip from an earlier hole that averaged 44.96 grams per tonne over 11.9 metres.

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