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by Stockwatch Business Reporter
New York spot gold lost $1.30 to $1,236.70 on Wednesday. The TSX Venture Exchange fell 9.02 points to 563.11 while the TSX Gold Index rose 1.96 points to 171.12. Detour Gold Corp. (DGC) gained 10 cents to $10.43 on 423,000 shares. The company and a dissident shareholder, Paulson & Co. Ltd., continue to fight for control of the company. Institutional Shareholders Services, one of two big proxy advisory services, is siding with Detour's crew. The other, Glass Lewis & Co., provided grist that both sides quickly milled into support for their cause.
Jose Vizquerra and John Burzynski's Osisko Mining Inc. (OSK), up 10 cents to $2.55 on 1.45 million shares, has received assays of up to 38.9 grams of gold per tonne over 13.7 metres from an infill hole into the Underdog zone at its Windfall Lake gold project in the Urban district of Quebec. There were plenty of other high-grade hits in the assays from another 13 holes and four wedges in the continuing drill program, but the widths were considerably shorter. (That mattered little in the case of a 4.3-metre interval into the Lynx zone, which returned 161 grams per tonne.)
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