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by Stockwatch Business Reporter

New York spot gold closed up $12 to $1,214 Monday, rising after the United States Labor Department's grim March jobs report. The American economy added only 126,000 jobs in March; analysts had been projecting a 225,000-man increase. In Canada, the TSX Venture Exchange added 5.64 points to 688.66 and the TSX Gold Index rose 4.64 points to 166.84.

Canada's larger gold miners ended the day higher. Barrick Gold Corp. (ABX) gained 81 cents to $15.74, Centerra Gold Inc. (CG) gained 14 cents to $6.72, Eldorado Gold Corp. (ELD) added 10 cents to $6.19 and Goldcorp Inc. (G) rose 42 cents to $24.09.

Goldcorp is selling its 40-per-cent interest in the South Arturo gold project in Nevada (a joint venture with Barrick Gold) to Ewan Downie's Premier Gold Mines Ltd. (PG), unchanged at $2.54 on 1.38 million shares. Premier will pay $20-million in cash and boost Goldcorp's interest in their Rahill-Bonanza joint venture (Ontario) by 5 per cent to 56 per cent. In conjunction with the sale, Goldcorp has also promised to buy $12.5-million worth of Premier stock. Barrick, which owns the other 60 per cent of South Arturo, will now need to decide if it will exercise its right of first refusal. Barrick has nearly finished building a gold mine at South Arturo, where it hopes to start production next year. It plans to truck the ore eight kilometres to another Nevada mine, Goldstrike, for processing.

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