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by Stockwatch Business Reporter
New York spot gold fell $4.90 to $1,313.00 on Monday. The TSX Venture Exchange added 7.40 points to 790.31 while the TSX Gold Index edged 0.51 point lower to 190.83. Endeavour Mining Corp. (EDV) fell 83 cents to $21.61 on 676,000 shares. The company will issue its first quarter results on Tuesday.
Albrecht Schneider and Carl Hansen's Atacama Pacific Gold Corp. (ATM) jumped 20 cents to 80 cents on 3.40 million shares on word that it has agreed to merge with Alexander Black's Rio2 Ltd. (RIO). (Rio2's shares fell 10 cents to 86 cents on 223,000 shares following the news.) According to the definitive arrangement, which still requires approval, each Atacama shareholder will get 0.6601 of a share of the new company for each of their shares, while each Rio2 shareholder will get 0.6667 of a share for each of theirs. The arrangement gives a premium of nearly 60 per cent to Atacama's shareholders. They will own nearly 60 per cent of the merged company, but it will carry on as Rio2 and will remain under the direction of Rio2's management.
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