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by Stockwatch Business Reporter

New York spot gold lost $9.90 to $4,197.30 on Friday. The TSX Venture Exchange fell 8.78 points to 939.76 while the TSX gold index slipped 9.38 points to 774.18. New Found Gold Corp. (NFG) continued its run, adding 13 cents to $4.31 on 3.05 million shares on word it has completed its previously announced expansion of Queensway by buying ground held by Exploits Discovery Corp. (NFLD). Exploits added one-half cent to 6.5 cents on 937,000 shares on the news.

David Russell's Galleon Gold Corp. (GGO) rose four cents to 73 cents on 2.66 million shares. Late Thursday, Galleon cheered the closing of its placement of 50 million shares at 60 cents apiece. Of those, 18.75 million shares went to Pan American Silver Corp. (PAAS: $61.36) in a non-brokered placement, while the other 31.25 million shares were sold on a best-efforts basis through a brokered placement. (The company's insiders purchased 5.55 million of those shares.)

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