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by Stockwatch Business Reporter

New York spot gold fell $8.30 to $1,224.70 on Monday. The TSX Venture Exchange gained 1.08 points to 837.24; the TSX Gold Index slid 2.38 points to 225.85. Most Canadian gold miners were down today, although New Gold Inc. (NGD) bucked the trend, gaining 16 cents to $4.07 on 6.46 million shares. Agnico Eagle Mines Ltd. (AEM) slid $1.44 to $65.05 on 776,000 shares.

Rob McEwen's Lexam VG Gold Inc. (LEX) jumped five cents to 30 cents on 5.40 million shares on word it plans to merge with Mr. McEwen's McEwen Mining Inc. (MUX: $5.49). Lexam's shareholders will get 0.056 share of McEwen for each Lexam share, which works out to a 30-per-cent premium. Mr. McEwen, chairman of a major shareholder of both companies -- he calls himself "chief owner" -- says Lexam's advanced projects in the Timmins area of Northern Ontario are attractive to McEwen Mining, which has the resources to advance those projects toward production.

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