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by Stockwatch Business Reporter

New York spot gold lost $7.50 to $2,035.10 on Thursday. The TSX Venture Exchange fell 0.79 point to 536.38 while the TSX gold index lost 0.72 point to 289.13. Most Canadian gold miners lost ground today. Franco-Nevada Corp. (FNV) lost $3.01 to $151.98 on 2.87 million shares, prodded lower in part because its royalty stream from the Cobre Panama mine looks to be in jeopardy. First Quantum Minerals Ltd. (FM), which shut the mine down yesterday at government directive, plans to fight for its right to keep Cobre running in court. Meanwhile, First Quantum, a $30 stock a month ago, fell 25 cents to $11.11 on 12.83 million shares today.

Rodney Antal and Edward Farid's SSR Mining Inc. (SSRM) is selling the San Luis project in west-central Peru to David Fincham's Highlander Silver Corp. (HSLV) for up to $42.5-million (U.S.) in cash and stock. The payment starts with a $5-million (U.S.) cash payment up front -- $7.5-million (U.S.) if paid in stock. From there, Highlander would pay $2.5-million (U.S.) in cash after an initial drill program, another $5-million (U.S.) after completing a feasibility study, and three $10-million (U.S.) cash payments made yearly starting with the beginning of commercial production.

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