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by Stockwatch Business Reporter
New York spot gold rose $9.30 to $1,674.20 on Wednesday. The TSX-V lost 3.24 points to 613.48 while the TSX gold index added 1.71 points to 231.25. Most Canadian gold miners moved upward, although Newmont Corp. (NGT) was a laggard, dropping 12 cents to $57.05 on 413,000 shares. Northbound today was Oceanagold Corp. (OGC) which added eight cents to $2.07 on 5.12 million shares.
Albert Matter's NuLegacy Gold Corp. (NUG) rose one-half cent to 4.5 cents on 2.44 million shares Tuesday. After the close the company said that it has suspended drilling on the Serena Extension zone at its Red Hill project in the Cortez Trend area of Nevada after completing four of the initially planned six holes. That less-than enthusiastic news sent NuLegacy down one-half cent to 3.5 cents on 797,000 shares today.
Mr. Matter, chief executive officer, says the halt is so the company can get a look at the assays, but also while it awaits "an improved financing environment." When the drilling began in August, the plan was to complete six holes before waiting for assays, then get back to work. (Unfortunately, implying that one is worried about the assays is unlikely to create an improved financial environment.) As for the assays, well, Mr. Matter says to expect them in the coming weeks, so the drillers could be idle for some time, it appears.
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russian owned nord gold still mining at whale cove nunavut? guess its fair game to raid it and bury them commies and take over the mine for nothing.