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by Stockwatch Business Reporter

New York spot gold gained $13.70 to $1,101.20 on Wednesday. The TSX Venture Exchange lost 6.63 points to 473.74 while the TSX Gold Index gained 2.76 points to 127.64. Barrick Gold Corp. (ABX) did well, gaining 78 cents to $11.79 on 10.94 million shares, but Alamos Gold Inc. (AGI) did not. It dropped 12 cents to $3.40 on 1.53 million shares.

Bruce McLeod's Sabina Gold and Silver Corp. (SBB) closed unchanged at 55 cents on 376,000 shares. The company has set a $7-million base budget for its Back River gold project in Nunavut, with "additional discretionary spending" of up to $4-million more possible. Most of the cash is for environmental assessment work and other permitting and engineering matters, although $2.2-million will be used to drill near-surface targets during the spring and summer. Mr. McLeod, president and chief executive officer, says the work this year will "enable us to deliver significant catalysts" for the Back River project.

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