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by Stockwatch Business Reporter

New York spot gold closed down $0.80 to $1,165.90 Thursday. The TSX Venture Exchange gained 3.31 points to 547.75 while the TSX Gold Index gained 2.92 points to 142.91. Most Canadian gold miners did well today, led by Detour Gold Corp. (DGC), which gained 98 cents to $16.50 on 3.01 million shares. Alamos Gold Inc. (AGI) was one of the few decliners. It slipped 14 cents to $5.61 on 3.37 million shares.

Douglas Eaton and Bruce Youngman's Strategic Metals Ltd. (SMD) lost one-half cent to 28.5 cents on 80,000 shares after it swapped properties with a sister company, Silver Range Resources Ltd. (SNG: $0.035). Strategic gets a 100-per-cent interest in the Mint gold-copper property in southwest Yukon; Silver Range gets the Michelle and BP 4 base metal properties, also in Yukon. The swap was first proposed in mid-2014 and it was a great deal according to Mr. Eaton, president and chief executive officer of both companies. It was not so great a few months later when he cancelled the swap because the property values were less than the cost of gaining regulatory approval for the transaction.

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