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by Stockwatch Business Reporter

New York spot gold continues to gyrate but if you squint and hold your tongue just right, you can divine an upward trend. Bullion paused Monday afternoon at $4,303.70, up $5.60 after getting as high as $4,350 early. Minera Alamos Inc. (MAI) was a busy trader, adding one cent to 43 cents on 12.2 million shares in silence. On the other hand, Artemis Gold Inc. (ARTG) fell 47 cents to $36.78 on 860,000 shares, also without news.

News sent Darren Hall's Equinox Gold Corp. (EQX) down $1.01 to $19.22 on 8.43 million shares. The company is selling its Brazilian assets -- the Aurizona, RDM and Bahia operations -- to a subsidiary of CMOC Group for just over $1.01-billion (U.S.). (The cozy acronym shields the company's Chinese roots: CMOC is a "joint stock company" trading on the Hong Kong and Shanghai exchanges, with a private company as its controlling shareholder.)

The agreement calls for Equinox to receive an upfront payment of $900-million (U.S.), subject to the usual adjustments that the accountants conjure up. Another $115-million (U.S.) will follow, one year after the sale closes, subject to the customary approvals and conditions that are now being lawyered into existence. Closing is expected before spring.

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