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by Stockwatch Business Reporter
New York spot gold rose $3.50 to $1,628 on Friday. North American markets resumed their decline after three up days, but it was still a positive week. The TSX Venture Exchange, barely 330 points on Monday, ended the day down 9.85 points to 388.58. Osisko Gold Royalties Ltd. (OR) helped lead the decline. It lost $1.23 to $10.10 on 1.29 million shares. It had company, with Kinross Gold Corp. (K) dropping 66 cents to $5.89 on 12.36 million shares. Fiore Gold Ltd. (NGT) was one of a few gainers. It added one-half cent to 45.5 cents on 304,000 shares.
Rob McEwen's McEwen Mining Inc. (MUX) shed nine cents to 96 cents on 1.34 million shares. The company heard this week from the New York Stock Exchange that its stock has fallen below the $1 (U.S.) threshold and is in danger of being delisted. The company has six months to get its share price and 30-day closing average share price above the threshold. Mr. McEwen, executive chairman and chief owner, says that he and his crew "intend to take steps to regain compliance" and therefore avoid delisting.
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