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by Stockwatch Business Reporter

New York spot gold rose $10.70 Friday, closing at $3,335.90. The TSX Venture Exchange added 1.14 points to 755.22 while the TSX gold index added 1.21 points to 503.42. Majestic Gold Corp. (MJS) had a good day, adding two cents to 17.5 cents on 3.76 million shares without benefit of news, while West Red Lake Gold Mines Ltd. (WRLG) rose one cent to 87 cents on 324,000 shares, also in silence.

Ronald Thiessen's Northern Dynasty Minerals Ltd. (NDM) was a rarity today -- a company with good news on a summer Friday -- and Independence Day to boot. The company says that it is "negotiating with the Environmental Protection Agency (EPA) to explore a potential settlement" regarding the company's mammoth Pebble project in Alaska. The news that the two sides are at least talking sent Northern Dynasty's stock up 48 cents to $2.40 on 5.7 million shares.

The market enthusiasm stems from an EPA court filing yesterday in which the agency said that it was briefed on the litigation initiated by Northern Dynasty and is "actively considering" its decisions. The bureaucrats "remain open to reconsideration" and the two sides are seeking a potential settlement. The two sides, the EPA says, "currently expect to reach agreement within the next two weeks" -- no, hold your horses! -- about what a "potential further submission from [Northern Dynasty] that would inform any agency reconsideration" might entail. And so, the litigants are asking for a two-week abeyance in the case.

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