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by Stockwatch Business Reporter
New York spot gold fell $5.90 to $1,926.30 on Friday. The TSX-V added 7.90 points to 623.81 while the TSX gold rose 1.86 points to 308.05. Argonaut Gold Inc. (AR), which inexplicably jumped nine cents to 69 cents on 12.15 million shares Thursday, gave one of them back today, closing at 68 cents on 4.84 million shares. Argonaut, which has been facing cost overruns building its Magino mine in Ontario, has been silent since early December when Richard Young replaced Larry Radford in the corner office.
Greg Lang's Novagold Resources Inc. (NG) added 18 cents to $9.06 on 203,000 shares. The company and its joint-venture partner, Barrick Gold Corp. (ABX: $25.35), rolled out assays from the last 44 holes drilled at their shared Donlin gold project in southwestern Alaska. The new hits included a 17.2-metre interval averaging 11.11 grams of gold per tonne, aided by a 4.25-metre stretch that ran 36.91 grams per tonne. That was a deep encounter, but a second hole yielded 7.56 grams per tonne over 24.27 metres at a near-surface depth.
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