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by Stockwatch Business Reporter
New York spot gold added $1.40 to $1,455.60 on Thursday. The TSX Venture Exchange lost 1.50 points to 532.31 while the TSX Gold Index added 1.72 points to 241.18. Agnico Eagle Mines Ltd. (AEM) was strong today. It added 86 cents to $77.99 on 301,000 shares. So was Torex Gold Resources Inc. (TXG). It rose 45 cents to $19.72 on 190,000 shares.
Ashwath Mehra and Paul Harbidge's GT Gold Corp. (GTT), up three cents to 93 cents on 998,000 shares, is selling 6,877,199 shares at $1.20 per share to Newmont Goldcorp Corp. (NGT: $50.98), or just over $8.25-million. The number of shares and the cash to be raised are odd amounts, designed to boost Newmont's stake in GT Gold to 14.9% from 9.9 per cent. When Newmont acquired its 9.9-per-cent interest in May, paying $1.53 per share for nearly 11.5 million flow-through shares, the two companies agreed that Newmont could boost its interest to 14.9 per cent "under certain circumstances." Apparently, those circumstances have arisen.
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