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by Stockwatch Business Reporter
New York spot gold rose $11.10 to $1,345.40 on Friday. The TSX Venture Exchange rose 13.57 points to 795.94 while the TSX Gold Index added 3.66 points to 190.26. Canadian gold miners were strong today, at least if one overlooks Endeavour Mining Corp. (EDV), which dipped 96 cents to $22.13 on 744,000 shares. Agnico Eagle Mines Ltd. (AEM) led the advance. It added $1.74 to $56.53 on 1.24 million shares, while Iamgold Corp. (IMG) rose 37 cents to $7.02 on 3.41 million shares.
Doug Fulcher's Maritime Resources Corp. (MAE) gained one-half cent to 12 cents on 1.15 million shares on word that Dustin Angelo's Anaconda Mining Inc. (ANX) has formally made an offer to acquire the company. (Anaconda's stock shrugged off the news; it closed unchanged at 38.5 cents on 87,000 shares.) Anaconda is offering 0.39 share for each Maritime share outstanding. Mr. Angelo and his crew tout the ratio as offering a premium of 64 per cent, but that was based on the four weeks of trading prior to the first word of the bid, which came in mid-March. (At that time, Anaconda was offering 0.364 of a share for each Maritime share, a 40-per-cent premium.)
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