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by Stockwatch Business Reporter
New York spot gold fell $3.70 Monday, ending the day at $1,822.70. The TSX-V gained ground, adding 5.03 points to 652.36 while the TSX gold rose 1.79 points to 282.49. Argonaut Gold Inc. (AR) had another tough day, dropping to 52 cents early, but it ended the day unchanged at 58 cents on 6.43 million shares. Argonaut, an $11 stock a decade ago and a $4 stock late last year, has been taking hits for the past several months because of cost overruns with construction of its Magino gold mine, northeast of Wawa in Northern Ontario.
Darren Hall's Calibre Mining Corp. (CXB) jumped 11 cents to $1.17 on 1.82 million shares on word that it has drilled a 5.6-metre true-width zone averaging 66.03 grams of gold and 50.1 grams of silver per tonne at Panteon North on its Limon project in Nicaragua. The hit was bolstered by a bonanza-grade intercept that returned 167.27 grams of gold and 125.3 grams of silver per tonne over 2.3 metres, the company cheers, but that left the other 3.3 metres essentially barren.
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