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by Stockwatch Business Reporter
New York spot gold rose $3.40 to $1,315.00 on Friday. The TSX Venture Exchange rose 0.99 point to 772.24 while the TSX Gold Index added 0.08 point to 191.58. Alacer Gold Corp. (ASR) led Canadian gold miners higher, adding seven cents to $2.31 on 933,000 shares.
Stephen Roman's Harte Gold Corp. (HRT), down one-half cent to 42 cents on 900,000 shares, has a preliminary economic assessment of its Sugar Zone project, near White River in Northern Ontario. The study is based on a resource of 2.61 million tonnes indicated, averaging 8.5 grams of gold per tonne, plus another 3.59 million tonnes inferred at 6.6 grams per tonne, for a total of nearly 1.5 million ounces. Hart plans to recover 900,000 of those ounces from 4.5 million tonnes of ore over a 12-year period. While the mine would cost just under $60-million to build, another $220-million in additional cash will be needed to boost the production rate from an initial 540 tonnes per day to 1,400 tonnes per day in 2021. The dream sheet credits the project with a discounted net present value of $244-million after taxes.
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