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by Stockwatch Business Reporter

New York spot gold fell $8.60 to $1,322.10 on Friday. The TSX Venture Exchange gained 3.77 points to 769.97 while the TSX Gold Index added 1.66 points to 261.62. Most Canadian gold miners moved little today. Agnico Eagle Mines Ltd. (AEM) did gain 98 cents to $70.66 on 644,000 shares, while Yamana Gold Inc. (YRI) slipped 16 cents to $7.14 on 6.35 million shares.

Nick Tintor and John Cook's Rosita Mining Corp. (RST), down one cent to 11 cents on 156,000 shares, has sold 17 million shares at five cents. The $850,000 raised in the fully subscribed placement is for work on the company's Santa Rita stockpile project in Nicaragua. Mr. Cook, president and chief executive officer, says Rosita will complete metallurgical testing and cost estimating that will lead to a preliminary economic assessment and a production decision early next year.

The dream sheet will be based on a recently derived resource of 6.46 million tonnes indicated at 0.47 gram of gold and 7.32 grams of silver per tonne, accompanied by 0.5 per cent copper, and an additional 3.44 million tonnes inferred at 0.46 gram of gold and 8.66 grams of silver per tonne, plus 0.61 per cent copper. Mr. Cook also points out that there are another two million tonnes inferred at roughly comparable grades in tailings near the Santa Rita stockpiles.

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