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by Stockwatch Business Reporter

New York spot gold rose $5.80 to $1,203.70 on Wednesday. The TSX Venture Exchange lost 9.30 points to 714.45 while the TSX Gold Index rose 2.36 points to 157.61. Most Canadian gold miners posted gains today, some of them noteworthy. Eldorado Gold Corp. (ELD) jumped 11 cents to $1.23 on 4.7 million shares. The stock had been as high as $6.72 two years ago. Endeavour Mining Corp. (EDV) was also strong, adding $1.02 to $20.76 on 671,000 shares.

Tony Makuch's Kirkland Lake Gold Ltd. (KL) jumped 54 cents to $23.37 on 2.56 million shares thanks to assays from the Swan structure at its Fosterville gold mine in Victoria, Australia. The assays, from 19 new holes drilled from underground beyond the existing resource estimate, ranged as high as 289 grams of gold per tonne over 7.45 metres in one hole, 155 grams per tonne over 11.9 metres in a second and 423 grams per tonne over 3.55 metres in a third. Mr. Makuch, president and chief executive officer, says that his company is quickly establishing Fosterville as a "new, world-class gold camp" -- a profitable mine apparently being an inadequate description.

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