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by Stockwatch Business Reporter
New York spot gold fell $2.40 to $1,287.40 on Monday. The TSX Venture Exchange lost 6.82 points to 618.82 while the TSX Gold Index added 1.16 points to 194.59.
Goldcorp Inc. (G) gained three cents to $15.50 on 3.75 million shares. The company said late Friday that it and Newmont Mining Corp. have received approval to proceed with their merger from the Minister of Innovation, Science and Economic Development Canada -- not to be confused with the Minister of Science and Sport Canada. (The Trudeau Liberals may have dropped the number of cabinet ministers from the Stephen Harper days, but their titles grew to the point where some have become non sequiturs on the order of The Sopranos' television series gag -- the Museum of Science and Trucking.)
Word that Nelson Baker's Mineral Mountain Resources Ltd. (MMV) is seeking $2-million in new cash has investors enthused about a coming drill program at its Rochford gold project in South Dakota. Mineral Mountain, which got to 17 cents before ending the day up one-half cent to 15.5 cents on 310,000 shares, is offering 13.3 million shares at 15 cents to cover the cost of a 4,000-metre drill program to test high-grade zones noted historically down plunge along the East Limb zone. The first hole, a 1,600-metre test, will be a pilot hole to a depth of at least 1,000 metres. Mineral Mountain expects the hole will cut across the main shear zone near the bottom of the hole in the hope of intersecting the high-grade zones encountered in the 1980s beneath the old Standby mine.
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