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by Stockwatch Business Reporter
New York spot gold fell $0.20 to $1,326.40 on Thursday. The TSX Venture Exchange fell 8.17 points to 876.79 while the TSX Gold Index dropped 3.05 points to 196.62. Endeavour Mining Corp. (EDV) followed bullion lower today, dropping 72 cents to $24.55 on 485,000 shares. Klondex Mines Ltd. (KDX) bucked the trend, gaining four cents to $2.76 on 1.00 million shares.
William Howald's Rye Patch Gold Corp. (RPM), down 12 cents to $1.38 on 1.09 million shares, is selling 11.54 million shares at $1.30 through a bought-deal financing. The $15-million placement can be increased to $20-million at the option of the underwriters, led by PI Financial Corp. Mr. Howald, chief executive officer, says the cash is for debt servicing, working capital and the continued ramp-up of the company's Florida Canyon gold mine, northeast of Reno in northern Nevada. The company bought the mine in mid-2016 for $15-million (U.S.) in cash and 20 million shares; it began resurrecting the former mine a year ago and has just declared it to be in commercial production, about a year later than originally expected.
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