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by Stockwatch Business Reporter

New York spot gold closed down $1.80 to $1,145.80 on Wednesday. The TSX Venture Exchange gained 3.76 points to 542.45 while the TSX Gold Index rose 0.45 point to 136.68. Several Canadian gold miners had strong days, led by Yamana Gold Inc. (YRI), which gained another nine cents to $2.91 on 7.42 million shares. Detour Gold Corp. (DGC) went the other way, dropping 66 cents to $15.30 on 2.42 million shares.

Arturo Bonillas's Timmins Gold Corp. (TMM), down 1.5 cents to 37.5 cents on 1.28 million shares, has fired its CEO, 58-year-old Bruce Bragagnolo. (The company tersely said he "has ceased to be" chief executive officer and apparently it was no more forthcoming to Mr. Bragagnolo: "Nothing was really explained to me," he said.) The reason for the firing appears to be Timmins's worsening financial position. The company is now warning investors to expect a "significant impairment charge" in its current quarter.

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