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by Stockwatch Business Reporter

New York spot gold fell $54.90 Friday, ending the week at $5,023.50. The TSX Venture Exchange lost 28.94 points to 1,018.11 while the TSX gold index fell 46.69 points to 912.93. Canadian gold miners lost more ground today. New Found Gold Corp. (NFG), nearly $5 in late January, continued in its funk today, dropping another 14 cents to $3.15 on 1.7 million shares. It had plenty of company. Novagold Resources Inc. (NG) lost $1.06 to $14.27 on 889,000 shares, and Galiano Gold Inc. (GAU) fell 49 cents to $3.49 on 2.5 million shares.

Walter Berukoff's Lion One Metals Ltd. (LIO) lost 1.5 cents to 26 cents on 1.06 million shares. The company is facing a shareholder revolt, as an as yet formally unidentified shareholder has officially requisitioned the company to hold a special meeting. The dissidents are apparently looking to gain control of Lion One's board, proposing to remove two current directors and to elect six new directors, once shareholders approve the expansion of Lion One's board to between nine and 11 members.

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