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by Stockwatch Business Reporter

New York spot gold gained $7.30 to $1,240.70 on Wednesday. The TSX Venture Exchange lost 1.61 points to 825.41 while the TSX Gold Index added 2.58 points to 230.85. Most Canadian gold miners moved higher today, although Torex Gold Resources Inc. (RIC) slipped $1.16 to $31.69 on 914,000 shares. New Gold Inc. (NGD) led the advance. It gained 25 cents to $3.96 on 9.82 million shares.

Charles Page and Duncan Middlemiss's Wesdome Gold Mines Ltd. (WDO), up 25 cents to $3.07 on 1.45 million shares, has received assays of up to 43.05 grams of gold per tonne over 14 metres from the depths of its Kiena mine complex near Val d'Or in Quebec. The assays are from 21 new holes completed in a continuing drill program and a significant number of high-grade intersections were recorded. Mr. Middlemiss, president and chief executive officer, says that the work has been accelerated with the goal of delineating the significant new find at Kiena as quickly and efficiently as possible. The company has recently added a fourth rig to the underground drill program and a total of 45,000 metres of drilling are planned this year.

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