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by Stockwatch Business Reporter

New York spot gold closed up $6.90 to $1,095.20 Friday, ending the month down $77. The TSX Venture Exchange added 6.01 points to 594.31 and the TSX Gold Index rose 3.46 points to 122.86.

Gold miners in Canada ended the day higher. Goldcorp Inc. (G) climbed 99 cents to $17.45, Barrick Gold Corp. (ABX) gained nine cents to $9.25, Kinross Gold Corp. (K) added 17 cents to $2.40 and Iamgold Corp. (IMG) added 10 cents $1.99.

Bruce Durham's Temex Resources Corp. (TME: $0.11) has ended its takeover arrangement with Sean Roosen and Ned Goodman's Oban Mining Corp. (OBM: $0.11), which had offered six cents a share. Instead, Temex has agreed to a much-more- generous 11.5-cent all-share takeover offer from Tony Makuch's Lake Shore Gold Corp. (LSG: $1.10). Lake Shore is after Temex's high-grade Whitney gold property near Timmins, Ont., where Goldcorp owns a 15-per-cent interest. Goldcorp used to own 40 per cent of Whitney, but its interest was reduced after the miner stopped putting up its share of exploration. Both Goldcorp and Lake Shore have mines near Whitney, and Lake Shore has two: Timmins West and Bell Creek. The company aims to produce 180,000 ounces of gold this year, down from 185,000 ounces in 2014. It could potentially use Whitney to expand production. The gold property has one million ounces of gold, grading between five and six grams per tonne.

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