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by Stockwatch Business Reporter

New York spot gold closed down 20 cents to $1,302.20 Wednesday. NATO has begun increasing its military presence along the eastern border of Ukraine, in response to Russia's recent aggression. Here in Canada, the TSX Venture Exchange gained 5.86 points to 997.97, while the TSX Gold Index fell a fraction to 181.86.

Canada's gold miners ended some up, others down. Goldcorp Inc. (G) rose 22 cents to $26.22, Osisko Mining Corp. (OSK) gained 51 cents to $7.94, Yamana Resources Inc. (YRI) lost 35 cents to $8.83 and Agnico Eagle Mines Ltd. (AEM) lost $2.74 to $30.71.

The eagle has swooped. Sean Roosen has made some changes to Osisko's friendly takeover with Yamana, namely bringing in Agnico Eagle. Under the revised offer, Yamana and Agnico will acquire 100 per cent of Osisko's stock for $3.9-billion, or $8.15 a share. The new offer comprises $1-billion in cash, $2.3-billion in Yamana and Agnico shares and a new company, Osisko, with an implied value of $575-million. Sean Roosen would continue as president of new Osisko, but he would no longer operate his mine. Malartic would become a 50-50 joint venture between Yamana and the Eagle; they have agreed to give new Osisko a 5-per-cent NSR royalty. New Osisko will also receive $155-million in cash and 2-per-cent NSRs on the Kirkland Lake, Hammond Reef and Pandora gold properties. It will get to keep 100 per cent of its Guerrero gold camp in Mexico, where the company has acquired one million hectares of prospective land. Osisko has mostly mapped and sampled so far, blaming slow progress on bad weather that "severely impacted" local infrasture. Osisko has been helping locals with repairs.

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