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by Stockwatch Business Reporter

New York spot gold gained $16.30 to $1,189.80 on Monday. The TSX Venture Exchange gained 0.10 point to 508.25 while the TSX Gold Index gained 7.05 points to 171.92. Goldcorp Inc. (G) led Canadian gold miners, gaining $1.40 to $20.52 on 11.06 million shares. Eldorado Gold Corp. (ELD) went the other way, losing 15 cents to $3.83 on 9.45 million shares.

Tony Makuch's Lake Shore Gold Inc. (LSG) gained eight cents to $1.57 on 70.87 million shares on word that it will be absorbed by Kevin McArthur's Tahoe Resources Inc. (THO). (Tahoe lost 75 cents to $10.91 on 9.66 million shares.) This is apparently the "speculation concerning a potential transaction" mentioned on Friday by Mr. Makuch, when he denied knowledge of "any material, undisclosed corporate developments" that might account for his stock's sudden spurt upward. Tahoe will issue approximately one share for each seven Lake Shore shares. That is an implied premium of close to 30 per cent based on the 20-day averages for both companies, but with Friday's rally the premium gap closed to just 15 per cent.

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