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by Stockwatch Business Reporter

New York spot gold took a $45.20 hit Monday, closing at $3,322.80. The TSX Venture Exchange added 1.84 points to 712.52 while the hard-to-lift, easy-to-drop TSX gold index shed 12.66 points to 497.25. And so, the red hue from investors' computer screens was blindingly bright. Minera Alamos Inc. (MAI) slid 3.5 cents to 34.5 cents on 11.3 million shares, while Agnico Eagle Mines Ltd. (AEM) lost $2.79 to $165.30 on 1.88 million shares. Those miners with a copper component fared better: Capstone Copper Corp. (CS) rose 12 cents to $7.87 on 5.23 million shares, helping to lead the way.

Scott Berdahl's Snowline Gold Corp. (SGD) leapt 60 cents to $8.52 on 746,000 shares on its much-anticipated preliminary economic assessment of the Valley deposit at Rogue, in east-central Yukon. The dream sheet is based on a resource with 204 million tonnes measured and indicated at 1.21 grams of gold per tonne and 44.5 million tonnes inferred at 0.62 gram per tonne -- about 8.83 million ounces of gold. Snowline looks to mine and process just over 170 million tonnes at an average head grade of 1.34 grams per tonne.

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