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by Stockwatch Business Reporter
New York spot gold fell $6.80 Friday, closing at $1,787.40. The TSX Venture Exchange lost 1.85 points to 903.35 and the TSX gold index lost 4.10 points, ending the day at 281.08. Most Canadian gold miners moved lower today but one clear exception was Brazilian gold and copper miner Eros Copper Corp. (ERO). Eros jumped 84 cents to $24.34 on 354,000 shares despite being silent since mid-August. Eros, currently a favourite of gold analysts, earned $85-million (U.S.) in its second quarter. The company's NX gold mine did well in the quarter, as did its MCSA copper operation.
Not doing as well today was Lundin Gold Inc. (LUG), which dropped four cents to $10.99 on 242,000 shares. Vancouver-based Lundin runs the Fruta del Norte mine in Ecuador. Lundin had nothing new to say today, nor did Agnico Eagle Mines Ltd. (AEM), which dropped $1.78 to $69.95 on 1.31 million shares.
Indeed, there was a dearth of news today, today being Friday and perhaps the last real Friday of summer at that, but one hardy promoter did roll out new assays today. Ross McLellan and Harry Dobson's Western Gold Exploration Ltd. (WGLD) added 2.5 cents to 20 cents on 86,000 shares on word that it has drilled a 0.85-metre true-width interval averaging 19.2 grams of gold and 1.19 grams of silver per tonne at its Stronchullin prospect, within the Knapdale property in Argyll, Scotland.
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