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by Stockwatch Business Reporter
New York spot gold rose $16.10 Friday, closing at $1,842.60. The TSX Venture Exchange rose 23.03 points to 931.38 while the TSX gold index added 7.04 points to 322.07. Most Canadian gold miners posted gains today, but Centerra Gold Inc. (CG) was an exception. It lost 34 cents to $8.64 on 3.28 million shares as it seeks a new trading range after the Kyrgyzstani government threatened new actions against the company and its Kumtor mine late last week.
John McConnell's Victoria Gold Corp. (VGCX), which has had more bad days than good since it topped the $21 mark late last summer, rose 80 cents to $15.32 on 251,400 shares today. The gain follows word that the company earned $31.8-million in its first quarter. This was expected, says Mr. McConnell, president and chief executive officer, with seasonal ore placement on the heap leach pad aiding the growth of ore stacking and gold production, which in turn results in lower per-unit costs.
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