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by Stockwatch Business Reporter
New York spot gold gained $0.60 to $1,325.00 on Thursday. The TSX Venture Exchange regained 12.45 points to 796.67 while the TSX Gold Index rose 2.54 points to 186.58. Most Canadian gold miners rebounded today, led by Premier Gold Mines Ltd. (PG), which added nine cents to $2.82 on 730,000 shares. Alio Gold Inc. (ALO) was a laggard. It lost six cents to $2.51 on 338,000 shares.
Colin Steyn and Peter Breese's Asanko Gold Inc. (AKG) jumped 37 cents to $1.30 on 9.97 million shares on word that it will receive $185-million (U.S.) from Nicholas Holland's Gold Fields Ltd. (GFI: $4.02 (U.S.)) in exchange for a 50-per-cent joint venture interest in Asanko Gold's 90-per-cent-owned Asanko gold project in Ghana. Gold Fields has also agreed to buy a 9.9-per-cent interest in Asanko Gold at 79 U.S. cents., providing Asanko with a further $17.6-million (U.S.). Asanko plans to use most of the cash, $164-million (U.S.), to repay its outstanding debt owed to RK Mine Finance Trust, otherwise known as Red Kite.
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