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by Stockwatch Business Reporter

New York spot gold slipped $3.20 to $1,474.10 on Wednesday. The TSX Venture Exchange added 1.38 points to 539.70 while the TSX Gold Index fell 3.91 points to 246.80. Tony Makuch's Kirkland Lake Gold Ltd. (KL) slid $1.90 to $54.02 on 2.54 million shares today, taking Detour Gold Corp. (DGC) along with it. Detour, down 29 cents to $24.85 on 6.14 million shares, agreed to a stock takeover by Kirkland Lake last week. The move received mixed reviews from analysts, but those who have passed judgment with their shares have been clear: Kirkland's stock, $65 just before the bid was made, has now lost one-sixth of its value.

Darin Wagner's Balmoral Resources Ltd. (BAR) has received assays of up to 32.7 grams of gold per tonne over 0.39 metre at the Ripley discovery, within Area 52 at its Fenelon gold project in northwestern Quebec. What it did not encounter were any promotably thick high-grade hits within any of the latest nine holes, unlike the discovery hole in mid-September that returned 14.03 grams of gold per tonne over 3.29 metres. As a result, Balmoral dipped as low as 27 cents today, ending the day down 5.5 cents to 32 cents on 3.49 million shares.

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