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by Stockwatch Business Reporter
New York spot gold rose $8.50 to $1,301.40 on Tuesday. The TSX Venture Exchange rose 1.40 points to 620.95 while the TSX Gold Index added 3.58 points to 197.89. Barrick Gold Corp. (ABX) bucked bullion's trend today. It lost one cent to $17.68 on 7.48 million shares. Endeavour Gold Corp. (EDV), down $1.47 to $19.64 on 445,000 shares yesterday, rose $1.17 to $20.81 on 461,000 shares today. Yesterday, the company revealed that Ian Cockerill has resigned as an independent, non-executive director of the company. While he may well be missed around the boardroom table, it is not the sort of news that sends the market into a tizzy.
Alec Pismiris and Dale Ginn's Pacton Gold Inc. (PAC), unchanged at 23.5 cents on 292,000 shares, is starting work at its Yandicoogina project in the Pilbara district of Western Australia. The work includes chip sampling and mapping ahead of target prioritization and drilling. The company is chasing high-grade, shear-hosted gold on the property, which has already yielded surface sampling assays of nearly 200 grams of gold per tonne. Mr. Ginn, executive chairman, says that these high-grade systems are "readily apparent and exposed at surface," so hopefully it will not be a difficult hunt. He says that Yandicoogina has produced "coarse nuggets from surface prospecting" -- what Pilbara gold promotion these days would be complete without those -- which appear to come from a nearby vein source.
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