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by Stockwatch Business Reporter
New York spot gold gained $8.50 to $1,311.30 on Tuesday. The TSX Venture Exchange added 0.31 points to 615.09 while the TSX Gold Index rose 4.63 points to 188.17. Barrick Gold Corp. (ABX) led Canadian gold miners higher today, adding 82 cents to $17.81 on 12.62 million shares. Franco-Nevada Corp. (FNV) also did well, gaining $2.54 to $101.41 on 1.12 million shares. Oceanagold Corp. (OGC) went the other way, dropping nine cents to $4.55 on 3.09 million shares. Premier Gold Mines Ltd. (PG) rose nine cents to $1.75 on 1.85 million shares on word that it has drilled 6.52 grams per tonne over 21.3 metres at its South Arturo project in Nevada.
John Robins and Darren Klinck's Bluestone Resources Inc. (BSR), up two cents to $1.42 on 412,000 shares, has received a feasibility study of its Cerro Blanco gold project in Guatemala. The study is based on a reserve of 3.4 million tonnes averaging 8.5 grams of gold and 32.2 grams of silver per tonne; a total of 940,000 ounces of gold and 3.6 million ounces of silver. The study proposes a $196-million (U.S.) mine that would produce 902,000 of those ounces over an eight-year span based on a throughput of 1,250 tonnes per day. The bottom line is a discounted net present value of $241-million (U.S.) after taxes.
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