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Pour peaches and syrup into medium sized pot. Heat over medium low for half an hour, stirring occasionally. Gently stir in sugar. Raise heat to medium and continue cooking for an hour and a half to two hours, or until the peaches have cooked down to 1/3 or 1/4 of their original volume and have the consistency of jam or preserves. Remove from heat. Store in refrigerator or in pantry if canned properly.
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