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by Stockwatch Business Reporter
New York spot gold fell $0.40 to $1,317.30 on Wednesday. The TSX Venture Exchange rose 13.94 points to 829.12 while the TSX Gold Index dropped 0.42 point to 179.59. Continuing troubles with some militant locals sent Torex Gold Resources Inc. (TXG) down another 31 cents to $10 on 722,000 shares today. The stock traded above $33 last year. Another market laggard, Eldorado Gold Corp. (ELD), which was above $5 last year, reclaimed three cents to $1.38 on 4.09 million shares.
Stephen Letwin's Iamgold Corp. (IMG), up two cents to $6.75 on 2.98 million shares, has received assays of up to 11.73 grams of gold per tonne over 46 metres from infill drilling at its Saramacca project, 25 kilometres southwest of its Rosebel mine in Suriname. The company also drilled several expansion holes, producing up to 22.9 grams of gold per tonne over 15 metres in one of the tests and 22.48 grams per tonne over 10.5 metres in a second. The company's senior vice-president of exploration, Craig MacDougall, says that this second phase of delineation drilling has allowed the company to refine its resource model, adding that Iamgold is continuing to advance the project toward production next year.
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