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by Stockwatch Business Reporter

New York spot gold gained $2.00 to $1,293.10 on Thursday. The TSX Venture Exchange lost 0.68 point to 790.64 while the TSX Gold Index lost 0.50 point to 202.13. Gainers were in the minority today and the moves were modest. Kinross Gold Corp. (K), one of the more active stocks today, added eight cents to $5.54 on 3.72 million shares. Torex Gold Resources Inc. (TXG) dropped 46 cents to $19.80 on 375,000 shares, and Guyana Goldfields Inc. (GUY) slipped 13 cents to $4.79 on 608,000 shares.

John Byrne and Peter Akerley's Erdene Resource Development Corp. (ERD), up two cents to 75 cents on 471,000 shares, has received assays of up to 10.3 grams of gold and 37.5 grams of silver per tonne over 20 metres from the Discovery zone at its Altan Nar project in southwestern Mongolia. (The zone also returned modest amounts of base metals.) Mr. Akerley, president and chief executive officer, says that the latest results, from another 22 holes drilled at Altan Nar, "are a testament to the exceptional fertility" of this emerging gold district, adding that they demonstrate significant expansion potential for the existing deposit areas and provide "exciting new discovery opportunities" within the 5.6-kilometre Altan Nar trend.

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