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by Stockwatch Business Reporter

New York spot gold gained $12.10 to $1,249.30 on Thursday. The TSX Venture Exchange gained 2.72 points to 839.45 while the TSX Gold Index slipped 0.69 point to 219.24. Torex Gold Resources Inc. (TXG) fell $1.21 to $29.29 on 903,000 shares while Alamos Gold Inc. (AGI) added 31 cents to $10.87 on 1.90 million shares.

Ian Pierce and Hannes Portmann's struggling New Gold Inc. (NGD), trading at barely half its August high of $7.87, dropped two cents to $3.96 on 9.47 million shares. The company has arranged a bought-deal financing of 53.6 million shares at $2.80 (U.S.) -- about $3.65 Canadian -- providing $150-million (U.S.). If the underwriters exercise their option to buy an additional eight million shares, New Gold will have nearly $173-million (U.S.) to put toward its Rainy River gold mine in Northwestern Ontario, which is behind schedule and well over budget. In January, the company said production would be delayed another three months, hopefully starting in September, and the cost of the mine was expected to be nearly $1.3-billion (U.S.).

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