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by Stockwatch Business Reporter

New York spot gold rose $4.30 to $1,340.00 on Tuesday. The TSX Venture Exchange rose 10.68 points to 776.14 while the TSX Gold Index rose 0.42 point to 184.53. Most Canadian gold miners moved little again today. Kinross Gold Corp. (K) traded actively, gaining three cents to $4.63 on 7.34 million shares. New Gold Inc. (NGD) was also a busy trader. It lost 11 cents to $2.98 on 9.40 million shares.

Claudio Ciavarella and Fahad Al Tamimi's Kerr Mines Inc. (KER), down two cents to 22 cents on 989,000 shares, has received a prefeasibility study of its Copperstone project in Arizona. As well, Martin Kostuik, president, says that the momentum of a very successful exploration program last year has resulted in an updated resource estimate. The company now lists 1.12 million tonnes measured and indicated at 7.63 grams of gold per tonne and another 666,000 tonnes inferred at 6.81 grams per tonne, for a total of 422,000 ounces. Mr. Kostuik deftly avoided mention of the direction of that momentum, as the updated resource is smaller than the estimate of nearly 460,000 ounces that accompanied a 2010 feasibility study.

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