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by Stockwatch Business Reporter

New York spot gold fell $10.90 to $1,113.80 on Thursday. The TSX Venture Exchange gained 2.56 points to 492.43 while the TSX Gold Index lost 2.89 points to 136.89. Canadian gold miners retreated today. Goldcorp Inc. (G) dropped eight cents to $15.56 on 4.26 million shares while Barrick Gold Corp. (ABX) slipped 33 cents to $13.56 on 10.39 million shares.

Peter Breese's Asanko Gold Inc. (AKG), down eight cents to $2 on 331,000 shares, has poured its first gold at its Asanko gold mine in Ghana. Peter Breese, president and chief executive officer, said the first 400-ounce pour since the company starting the commissioning phase at the mine in mid-December was a "historic milestone." He says the mine is now fully commissioned, a full month ahead of schedule and within its $300-million (U.S.) budget, although other milestones lie ahead.

The company's next steps include ramping up mining and processing to its designed production rate. Mr. Breese says he is confident the company will declare the mine to be in commercial production before the end of June, roughly when Asanko expects its mine to start generating positive cash flow. (The plan calls for a 13-year mine to average 200,000 ounces of gold per year.) To support his predictions, he says Asanko is achieving throughput and mill grinding rates that exceed expectations. Mr. Breese calls all this a "new chapter" for his company, but it seems more of a book: Asanko is already planning a $270-million (U.S.) expansion for its mine.

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