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by Stockwatch Business Reporter

New York spot gold rose $5.60 to $1,321.90 on Thursday. The TSX Venture Exchange fell 21.33 points to 889.51 while the TSX Gold Index added 0.84 point to 195.87. Alamos Gold Inc. (AGI) was a big mover today, falling 55 cents to $7.39 and trading 4.56 million shares on word it produced just under 430,000 ounces of gold last year. John McCluskey, president and chief executive officer, lauded his company's record production and predicted up to 520,000 ounces of gold for this year. The market, however, was not as thrilled.

Jean-Marc Lacoste's Monarques Gold Corp. (MQR), up 3.5 cents to 38.5 cents on 2.93 million shares, has received assays of up to 61.48 grams of gold per tonne over 3.9 metres at its Beaufor mine in Quebec. The high-grade hit, and several others, were obtained from drilling into zones subparallel with Zone Q in the company's 2,239-metre drill program last year. (Zone Q is the area currently being mined at Beaufor, which produced just under 20,000 ounces last year.) A second assay from the subparallel zones returned 15.44 grams per tonne across three metres and 39.05 grams per tonne across 1.8 metres. As well, Monarques encountered higher-grade gold in a new sector, Zone 1700, including a hit that averaged 12.33 grams per tonne across 1.6 metres.

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