This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold lost $2 to $1,198.30 Thursday, as the U.S. dollar rose ahead of Friday's United States jobs report. Analysts are projecting a 240,000-man increase. In Canada, the TSX Venture Exchange slipped 1.17 points to 696.92, while the TSX Gold Index rose 1.23 points to 171.83.

Gold miners in Canada ended some up, some flat, some down. Barrick Gold Corp. (ABX) rose 14 cents to $15.23, Yamana Gold Inc. (YRI) remained unchanged at $5.12, Eldorado Gold Corp. (ELD) lost eight cents to $6.38 and Iamgold Corp. (IMG) lost five cents to $2.73.

Brian Dalton's Altius Minerals Corp. (ALS) dropped 62 cents to $12.05 on 279,000 shares, after making a $106-million (cash and shares) bid for Brian Irwin's Callinan Royalites Corp. (CAA), up 28 cents to $2.05 on 2.77 million shares. Altius is after Callinan's 20-royalty portfolio, of which only one of the underlying properties is in production. Last year, the company generated $8-million in royalty revenue from its 6.6-per-cent net profits interest in HudBay Minerals Inc.'s (HBM: $9.75) 777 copper-zinc mine in Manitoba. Callinan is hoping to do even better this year, as HudBay has swapped the net profits interest for a 4-per-cent net-smelter-return royalty. Callinan's other 19 royalty interests are in gold, copper, silver and zinc properties, mostly in North America. The project closest to production is likely Excelsior Mining Corp.'s (MIN: $0.245) Gunnison copper project in Arizona, where Callinan has promised $22-milion in stages for a 3-per-cent gross revenue royalty. It has put up $7-million so far. Callinan has over $30-million in working capital.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS