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by Stockwatch Business Reporter

New York spot gold fell $3.00 to $1,297.90 on Thursday. The TSX Venture Exchange fell 4.58 points to 763.10 while the TSX Gold Index rose 0.12 point to 190.22. Tahoe Resources Inc. (THO) led Canadian gold miners higher, adding 15 cents to $6.79 on 1.50 million shares. Endeavour Mining Corp. (EDV) went the other way, dropping 44 cents to $22.49 on 281,000 shares.

Dr. Quinton Hennigh's Novo Resources Corp. (NVO) slumped to an intraday low of $3.74, ending the day down $1.77 to $3.50 on 3.50 million shares. The slump came on the heels of bulk sampling results from Comet Well, a part of its Karratha project in the Pilbara district of Western Australia. The first sample, which weighed 7.14 tonnes and was previously reported to contain "numerous gold nuggets" up to two centimetres in diameter, "returned an impressive grade" of 10.4 grams per tonne. The second test, which weighed 6.85 tonnes, averaged 1.5 grams per tonne.

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