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by Stockwatch Business Reporter

New York spot gold lost $9.70 to $1,321.70 on Wednesday. The TSX Venture Exchange lost 4.04 points to 771.16 while the TSX Gold Index fell 3.60 points to 200.75. Canadian golds lost ground today, although Eldorado Gold Corp. (ELD) jumped 38 cents to $2.79 on 17.54 million shares. Eldorado said today that it got some needed permits from Greece, but is still waiting for more. Two days ago, Eldorado said it would be putting its Greek projects on care and maintenance because of government delays. Despite the market's enthusiasm, the saga continues.

Albert Matter and James Anderson's NuLegacy Gold Corp. (NUG), up one cents to 23.5 cents on 199,000 shares, has received assays of 0.65 gram of gold per tonne over 33.5 metres from a discovery hole drilled into the VIO zone, "another important gold zone" on its Red Hill property in the Cortez district of Nevada. VIO is about four kilometres west of the Iceberg deposit on the westernmost part of the property. The gold hit included a 9.1-metre interval that averaged 1.8 grams per tonne. Mr. Anderson, president and chief executive officer, says the gold appears to occur in an epithermal style of mineralization, "an entirely different deposit type" from the company's Carlin-style gold deposits in the area. He called the find an exciting new development for building potential gold resources at Red Hill.

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