This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold closed down $4.50 to $1,070.90 on Wednesday. The TSX Venture Exchange gained 0.21 point to 519.19 while the TSX Gold Index lost 0.65 point to 124.70. Detour Gold Corp. (DGC) led gainers with an eight-cent jump to $13.39 on 994,000 shares. Goldcorp Inc. (G) led decliners with a 14-cent drop to $15.62 on 2.61 million shares.

Paulino Rene Dias and Mario Stifano's Cordoba Minerals Corp. (CDB) jumped 2.5 cents to 13.5 cents on 932,000 shares Tuesday on word it has landed another major backer. (It gave back 1.5 cents on 10,000 shares today.) The company has just sold 13.33 million shares at 12 cents to seven investors and most of the stock, nearly 10.8 million shares, went to High Power Exploration Inc., a private company indirectly controlled by Robert Friedland. High Power now owns 20 million shares, about 25 per cent of the total outstanding.

Mr. Friedland apparently likes Cordoba's gold and copper projects in Colombia. San Matias, which spans 20,000 hectares of "ideal open pit topography" has received over 13,000 metres of drilling to date. Some of the more noteworthy assays returned 0.74 gram of gold per tonne and 1.07 per cent copper over 139 metres and 188 metres of 0.25 gram of gold and 0.71 per cent copper. Mr. Friedland's High Power already has an agreement with Cordoba whereby it can earn a 65-per-cent interest in San Matias by funding the project and completing a feasibility study. At Montiel, Cordoba's other Colombian prospect, drilling has returned assays of up to 0.65 gram of gold per tonne and 1.0 per cent copper.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS