by Stockwatch Business Reporter
New York spot gold closed up $5.70 to $1,317.60 Wednesday, rising from a three-week low as the U.S. dollar weakened ahead of the European Central Bank meeting Thursday. In Canada, the TSX Venture Exchange lost 4.30 points to 941.31, while the TSX Gold Index added 2.19 points to 177.37.
Canadian gold miners had another inconsistent day. Goldcorp Inc. (G) gained 28 cents to $26.25, Kinross Gold Corp. (K) rose 10 cents to $5.28, Iamgold Corp. (IMG) lost 10 cents to $5.08 and Allied Nevada Gold Corp. (ANV) slipped two cents to $4.14.
Patrick Sheridan Jr.'s Guyana Goldfields Inc. (GUY) slipped seven cents to $2.35 on 383,000 shares. The company has arranged a $165-million loan with International Finance Corp. This is a larger sum than the IFC normally extends to gold miners, but it plans to provide only $65-million itself. It will obtain the rest through a syndicate of lenders.
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Looks like Jaguar left a 100% return on the table! - buzz on the street is Jaguar sold out on those big volume trades back in Sept. Also, the above failed to mention that he wanted Barisan to dividend out all the cash. "..implement a value creative transaction to distribute all or substantially all of Barisan's cash resources to its shareholders." Another failure Vic.