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by Stockwatch Business Reporter

New York spot gold dipped $7.50 to $1,338.30 on Thursday. The TSX Venture Exchange rose 2.18 points to 836.65 while the TSX Gold Index lost 2.61 points to 277.04. Most Canadian gold miners followed bullion lower today, although Alamos Gold Ind. (AGI) had a good day, gaining 20 cents to $11.58 on 1.85 million shares. Kirkland Lake Gold Inc. (KGI) lost 47 cents to $11.72 on 1.23 million shares while Agnico Eagle Mines Ltd. (AEM) fell $1.16 to $76.03 on 784,000 shares.

Andrew Lee Smith's East Africa Metals Inc. (EAM), up one cent to 32.5 cents on 952,000 shares, has filed its application for a mining permit covering the Terakimti gold deposit on its Harvest project in Ethiopia. East Africa proposes an open pit mine targeting 1.13 million tonnes of oxide ore averaging 3.2 grams of gold and 24.0 grams of silver per tonne, for a total of 107,000 ounces of gold and 812,000 ounces of silver.

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