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by Stockwatch Business Reporter
New York spot gold rose $4.30 to $1,847.50 on Tuesday. The TSX-V rebounded today, regaining 8.8 points to 847.21, while the TSX gold index reclaimed 2.32 points to 288.47. Karora Resources Inc. (KRR), down six cents Monday despite encouraging assays from Beta Hunt in Australia, fell another three cents today, closing at $4.30 on 1.03 million shares. Torex Gold Resources Inc. (TXG) went the other way, adding 49 cents to $12.97 on 550,000 shares.
Peter Gillin and Steve Thibeault's -- and certainly Rio Tinto's -- Turquoise Hill Resources Ltd. (TRQ) jumped $2.98 to $22.10 on 1.22 million shares following word that it has "reached a mutual understanding for a renewed partnership with the government of Mongolia" -- caved, in other words -- regarding the Oyu Tolgoi mine in Mongolia. Having renewed their vows, the fractious couple have approved the work that will allow the underground mine at Oyu Tolgoi to begin caving operations shortly, which in turn will lead to "sustainable production in the first half of 2023."
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