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by Stockwatch Business Reporter

New York spot gold fell $0.30 to $1,268.80 on Monday. The TSX Venture Exchange lost 2.21 points to 770.36 while the TSX Gold Index lost 0.13 point to 194.39. Most Canadian golds moved little today. Richmont Mines Inc. (RIC) lost 33 cents to $10.39 on 491,000 shares while Goldcorp Inc. (G) added 13 cents to $16.37 on 4.09 million shares.

Stephan Theron's African Gold Group Inc. (AGG), down one cent to 5.5 cents on 81,000 shares, has started an internal scoping study of its Kobada gold project in Mali. Mr. Theron, chief executive officer, says that the study will consider the available development options for the project and assess whether the existing mineral reserve and resource estimates can be optimized, relative to a potential phased approach to a larger phase 1 production profile. (Apparently, the company is seeking to expand its hypothetical mine plan, at least in stages.)

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