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by Stockwatch Business Reporter

New York spot gold lost $8.40 to $1,260.90 Thursday, falling as the U.S. dollar continued to climb against the euro after the European Central Bank cut interest rates. It lowered its benchmark rate by 0.1 per cent to 0.05 per cent, and its deposit rate by 0.1 per cent to minus 0.2 per cent. Here in Canada, the TSX Venture Exchange dropped 14.75 points to 995.43 and the TSX Gold Index lost 7.16 points to 187.75.

Major Canadian gold miners ended the day in the red. Barrick Gold Corp. (ABX) dropped 82 cents to 3.49 million shares, Centerra Gold Inc. (CG) lost six cents to $6.54, Eldorado Gold Corp. (ELD) fell 41 cents to $8.19 and Yamana Gold Inc. (YRI) fell 30 cents to $8.45.

Steve de Jong's Integra Gold Corp. (ICG) climbed five cents to 30 cents on a busier-than-usual 4.24 million shares. The company has acquired the Sigma-Lamaque mine and mill in Quebec out of receivership for $7.55-million. It will pay only $1.8-million in cash and issue 25 million shares. The pastproducing project is contiguous to Integra's one-million-ounce Lamaque gold property, at which the company would like to start processing ore. Mr. de Jong had been looking for an available toll miller, but that will no longer be necessary, and he spoke grandiloquently about it. "For a myriad of reasons this synergistic acquisition is exceptionally well tailored. . . " Integra has over $10-million in working capital thanks to a recent financing, and it will need to keep that up if it wants to reopen old Sigma-Lamaque. The mine has a reputation for being a money sucker, having pushed both of its previous owners into bankruptcy.

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