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by Stockwatch Business Reporter
New York spot gold gained $1.50 to $1,323.10 on Friday. The TSX Venture Exchange lost 0.57 point to 828.90 while the TSX Gold Index fell 1.35 points to 180.05. New Gold Inc. (NGD) led Canadian golds lower, dropping 11 cents to $3.10 on 1.43 million shares. Detour Gold Corp. (DGC) was strong today, gaining 63 cents to $12.63 on 2.76 million shares.
Andrew Dinning and Sean Harvey's Sarama Resources Ltd. (SWA), down one-half cent to 11.5 cents on 18,000 shares, is offering an additional 10 million shares in its current placement. The company now intends to sell 40 million shares at 10 cents, seeking $4-million for work on its Burkina Faso gold projects, mainly at ThreeBee and Koumandara. (Sarama's top project is South Hounde, which has a 2.1-million-ounce gold resource, but it has an earn-in partner paying the bills there.) Mr. Dinning, president and chief executive officer, says that he is pleased with the strong support shown by investors and he appreciates the support shown by his current shareholders. (Support is more readily obtained when one sets the offering price sufficiently low.)
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