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by Stockwatch Business Reporter

New York spot gold gained $4.30 to $1,232.70 on Thursday. The TSX Venture Exchange gained 0.57 point to 534.31 while the TSX Gold Index gained 0.13 point to 183.48. Detour Gold Corp. (DGC) had another solid day, adding 60 cents to $22.50 on 2.36 million shares, but Kinross Gold Corp. (K) struggled. It fell 30 cents to $4.04 on 16.35 million shares.

Fred Stanford's Torex Gold Resources Inc. (TXG) jumped 12 cents to $1.70 on 3.36 million shares. Mr. Stanford, president and chief executive officer, says construction is "tracking nicely ahead of plan" at the El Limon-Guajes (ELG) mine in Guerrero, Mexico. He expects the company will hit its next three milestones -- declaration of commercial production, resettlement of the El Limon residents and commissioning of the El Limon crusher -- this spring. The company poured its first gold at ELG late last year in what Mr. Stanford called "an exciting milestone." Further milestones lie ahead, as ELG may not achieve full production for perhaps another year. The construction costs for the 14,000-tonne-per-day, $800-million (U.S.) mine "remain on budget," Mr. Stanford says, and he is already planning an expansion for his Guerrero gold project.

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