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by Stockwatch Business Reporter

New York spot gold closed down $14.20 to $1,132.10 on Monday. The TSX Venture Exchange slumped 14.88 points to 526.62 while the TSX Gold Index dropped 5.77 points to 121.37. Decliners dominated the board for Canadian gold miners today. Agnico Eagle Mines Ltd. (AEM) fell $1.44 to $33.15 on 1.51 million shares. Goldcorp Inc. (G) was also hit hard; it dropped $1.18 to $16.60 on 3.99 million shares.

Fred Stanford's Torex Gold Resources Inc. (TXG), down 10 cents to $1.24 on 2.40 million shares, promises a "permanent police presence" in areas adjacent to its new ELG gold mine at Morelos in southern Mexico, or at least there will be once Torex and the bureaucrats settle and sign a formal agreement on mutually acceptable terms. The security issue is important, as the company has just relocated 102 families and other locals are unhappy about having a new mine in their midst.

Torex has faced more than its share of troubles at Morelos, in the aptly named Guerrero, a state euphemistically described as a "challenging jurisdiction." One of the first challenges hit in 2011, just after the company acquired the play, when five of its trucks were stolen in an armed robbery. A year ago, 43 students from the nearby city of Iguala were kidnapped and are presumed dead. (The bodies of three dozen souls who had been burned alive subsequently turned up, but they were ultimately found to be other, unidentified unfortunates.) Gangsters struck again early this year, kidnapping 13 people near Morelos, including one Torex employee and three of its contract workers. That had a happier ending, as they were subsequently freed.

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