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by Stockwatch Business Reporter

New York spot gold lost $2.00 to $1,266.20 on Wednesday. The TSX Venture Exchange rose 1.27 points to 769.30 while the TSX Gold Index lost 0.03 point to 195.06. Most Canadian golds moved little today, but Franco-Nevada Corp. (FNV) jumped $1.91 to $93.70 on 765,000 shares and Guyana Goldfields Inc. (GUY) added 40 cents to $4.50 on 3.30 million shares. Endeavour Mining Corp. (EDV) went the other way, dropping 62 cents to $23.39 on 259,000 shares.

Darin Labrenz's Pure Gold Mining Inc. (PGM), up three cents to 55 cents on 694,000 shares, has revised its resource estimate for the Madsen project near Red Lake in Northwestern Ontario. The company now lists 5.79 million tonnes measured and indicated at 8.9 grams of gold per tonne and another 587,000 tonnes inferred at 9.4 grams per tonne, for a combined 1.83 million ounces. In the previous estimate, now eight years old, Madsen hosted 1.45 million ounces. The resource spans the Austin, McVeigh, South Austin, 8 Zone and A3 domains. Pure Gold expects to have another resource update before the end of the year that will include the satellite deposits at Madsen: Russet South and the Fork zone.

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