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by Stockwatch Business Reporter

New York spot gold fell $2.90 to $1,224.00 on Wednesday. The TSX Venture Exchange gained 1.77 points to 677.08 while the TSX Gold Index rose 3.04 points to 210.50. Eldorado Gold Corp. (ELD) did well, gaining 20 cents to $5.81 on 7.86 million shares, while New Gold Inc. (NGD) went the other way, losing 23 cents to $4.96 on 6.84 million shares.

Paul Pint and Justin Reid's Sulliden Mining Capital Inc. (SMC), unchanged at 40 cents on 111,000 shares, has a mineral resource estimate for its Troilus project in the Abitibi region of northwestern Quebec. Sulliden acquired an option on Troilus three weeks ago. It can acquire a 100-per-cent interest in the project for $300,000 in staged payments and by spending $1-million on engineering and technical studies. (Mr. Pint, president, and Mr. Reid, chief executive officer, apparently intend to subsequently sell 40 per cent of the project through an arrangement with 251 Ontario Ltd.) The updated resource calculation, based on historical drill data, lists 44 million tonnes indicated at 1.27 grams of gold and 0.12 per cent copper, with another 18.7 million inferred at 1.03 grams of gold per tonne and 0.084 per cent copper. All told, Troilus holds 2.75 million ounces of gold equivalent, nearly 90 per cent of it gold.

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