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by Stockwatch Business Reporter
New York spot gold dipped $1.70 to $1,280.60 on Thursday. The TSX Venture Exchange rose 0.68 point to 593.38 while the TSX Gold Index added 0.95 point to 176.91.
Most Canadian gold miners moved higher today. Endeavour Mining Corp. (EDV) led the way, adding 91 cents to $21.07 on 361,000 shares. Endeavour's gain was helped by word that the company produced 727,000 ounces of gold last year, handily beating guidance that had called for up to 590,000 ounces. Oceanagold Corp. (OGC) went the other way, dropping 13 cents to $4.56 on 1.81 million shares on word that the 533,300 ounces it produced last year achieved its guidance. (It split the forecast range, but that prediction had been boosted twice during the year.)
Don Dudek's Savary Gold Corp. (SCA), up one cents to five cents on 311,000 shares, has received assays of up to 37.64 grams of gold per tonne over 4.2 metres from a 5,266-metre, 67-hole drill program on the company's Karankasso gold project in Burkina Faso. Savary holds a 69.5-per-cent interest in the project, with Andrew Dinning's Sarama Resources Ltd. (SWA: $0.05) holding the rest. (Karankasso is in the southwestern part of the country, not the particularly violent northern and eastern areas, although there is no truly safe area in one of the darkest corners of the Dark Continent.) The glittering hit came from the Serakoro-1 area, but there were high-grade intercepts at Karankasso South and Diosso South as well.
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