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by Stockwatch Business Reporter

New York spot gold fell $10.10 to $1,512.80 on Friday. The TSX Venture Exchange reclaimed 1.65 points to 570.43 but the TSX Gold Index dropped 2.14 points to 248.89. Most Canadian gold miners followed bullion lower today. Premier Gold Mines Ltd. (PG) dropped 15 cents to $2.16 on 1.75 million shares and Detour Gold Corp. (DGC) dropped 48 cents to $23.44 on 1.45 million shares.

Blaine Monaghan's Fremont Gold Ltd. (FRE) is selling its Gold Canyon gold project in Nevada to Rob McEwen's McEwen Mining Inc. (MUX). McEwen's stock shrugged off the news, as it dropped 12 cents to $2.32 on 1.12 million shares, but Fremont's shareholders reacted as though the company had been sent to the gallows: It hit an intraday low of six cents, ending the day off two cents to seven cents on 314,000 shares. Mr. Monaghan, Fremont's chief executive officer, nevertheless offered the usual spin, stating that the sale "appreciably increases Fremont's financial flexibility."

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