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by Stockwatch Business Reporter

New York spot gold closed up $10.10 to $1,211.80 Tuesday. The TSX Venture Exchange added 5.14 points to 695.24 and the TSX Gold Index rose 5.05 points to 168.66.

Major Canadian gold miners followed bullion higher. Barrick Gold Corp. (ABX) gained 47 cents to $15.99, Goldcorp Inc. (G) gained 65 cents to $23.85, Detour Gold Corp. (DGC) rose 47 cents to $12 and Yamana Gold Inc. (YRI) added 14 cents to $4.86.

Mark O'Dea's True Gold Mining Corp. (TGM) slipped one cent to 19 cents on 450,000 shares. The company has its year-end financials. It sank $60-million into its Karma gold mine in Burkina Faso last year, but construction is now on hold. The company voluntarily suspended work after what it called a "demonstration" in January that caused $6-million worth of damage. True Gold has said very little about the "incident," only that it expects to start production 10 months after it resumes construction. Late last month it laid off 450 local workers to help conserve cash. The government of Burkina Faso is apparently working with the company to mend the relationship with the unhappy demonstrators.

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