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by Stockwatch Business Reporter

New York spot gold lost $10.60 to $1,257.30 on Friday. The TSX Venture Exchange lost 0.82 point to 765.68 while the TSX Gold Index fell 2.32 points to 192.53. Most Canadian golds moved lower today, led by Richmont Mines Inc. (RIC), which lost 82 cents to $9.63 on 654,000 shares. Centerra Gold Inc. (CG) added 11 cents to $6.81 on 759,000 shares.

Adam Travis's Colorado Resources Ltd. (CXO), down one cent to 32.5 cents on 1.29 million shares, is offering 12.72 million flow-through shares at 36.5 cents and 10 million regular shares at 26 cents. If fully subscribed, the placements will raise $7.24-million. The financings are projected to close by the end of the month and Colorado will easily raise most if not all the cash, as Goldcorp Inc. (G: $15.89) will be a major participant. Goldcorp is expected to acquire all the flow-through shares and 4.2 million regular shares, giving it a 14.25-per-cent interest in Colorado.

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