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by Stockwatch Business Reporter

New York spot gold closed up $1.50 to $1,195 Tuesday, rising slightly on reports that United States housing starts fell last month and manufacturing has fallen this month. In Canada, the TSX Venture Exchange lost 0.99 point to 642.30 and the TSX Gold Index lost 2.4 points to 134.03.

Major Canadian gold miners had a down day. Barrick Gold Corp. (ABX) slipped 19 cents to $12.02, Detour Gold Corp. (DGC) lost 36 cents to $8.13, Alamos Gold Inc. (AGI) dropped 58 cents to $7.52 and Iamgold Corp. (IMG) dropped 16 cents to $2.56.

Frank Callaghan's Barkerville Gold Mines Ltd. (BGM) added two cents to 26 cents on 227,000 shares, after the company appointed two experienced gold miners, Greg Gibson and Tony Makuch, to its board. Mr. Gibson was the man behind Trelawney Mining and Exploration Inc., when Iamgold Corp. bought it for $585-million in June, 2012. When he first joined Trelawney in 2009 the stock was barely trading at 1.5 cents. He rolled it back 1:5, raised almost $200-million and reported several pleasing rounds of assays from the company's Cote gold project in Ontario. After selling Trelawney to Iamgold, he joined Martin Shefsky's Northern Gold Mining Corp. (NGM: $0.015), where within his first three months he had raised almost $30-million, and had boosted the stock to 45 cents from 20 cents. Mr. Gibson left Northern Gold in May, 2013, just 10 months after joining. This past summer he joined San Gold Corp. (SGR: $0.05), where he is now trying to make the company profitable from production at its Rice Lake gold mine in Manitoba. The possibility of profitability increased greatly last fall, when founder Hugh Wynne retired at the age of 81. Under his leadership, San Gold was spending up to $5-million a quarter on services from the Wynne Group of companies. These services are now provided by other vendors, according to the financial statements for the first quarter of 2014 (ended June 20); San Gold spent nothing at the Wynne Group in its first quarter, down from $4.9-million for the same period in 2013.

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