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by Stockwatch Business Reporter

New York spot gold fell $6.70 to $1,212.80 on Friday. The TSX Venture Exchange lost 11.39 points to 668.54 while the TSX Gold Index fell 5.03 points to 204.37. Canadian gold miners ended the week on a losing note. Kinross Gold Corp. (K) dropped 34 cents to $5.52 on 13.09 million shares while Iamgold Corp. (IMG) lost 23 cents to $4.14 on 5.57 million shares.

Luis Baertl and Marc Leduc's Luna Gold Corp. (LGC), up one-half cent to 19 cents on 73,000 shares, has a new partner for its grassroots project surrounding the old Aurizona mine in northern Brazil. AngloGold Ashanti Ltd. has agreed to spend $14-million (U.S.) on exploration over four years in exchange for a 70-per-cent interest in the project. The deal excludes the Aurizona mine, its nearby Tatajuba extension, the Touro claims and other more advanced parts of Luna's big property. AngloGold has committed to spending $2-million (U.S.) in the next year but it may quit the deal at any point thereafter.

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