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by Stockwatch Business Reporter
New York spot gold lost $19.00 to $1,327.00 on Monday. The TSX Venture Exchange lost 2.40 points to 769.59 while the TSX Gold Index dipped 6.15 points to 202.54. Most Canadian golds were down today, although Centerra Gold Inc. (CG) added another 29 cents to $9.07 on 2.13 million shares. Alamos Gold Inc. (AGI) slumped $1.65 to $8.60 on 14.32 million shares on word that it is acquiring Richmont Mines Inc. (RIC) through a stock offer valued at $770-million.
Meanwhile, Jean-Marc Lacoste and Michel Bouchard's Monarques Gold Corp. (MQR), up one-half cent to 40 cents on 639,000 shares, is acquiring all the Quebec gold assets of Richmont Mines. (The two deals had Richmont up 13 cents to $11.75 on 9.97 million shares today.) Those assets span several prospects, but the two most important ones are the Beaufor mine near Val d'Or and the Wasamac property, west of Val d'Or near the Ontario border. To acquire the assets, Monarques has agreed to give Richmont enough stock to represent a 19.9-per-cent interest in the company.
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