This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold slid $23.00 to $1,278.90 on Friday. The TSX Venture Exchange fell 6.86 points to 754.40 while the TSX Gold Index dropped 2.29 points to 191.66. Torex Gold Resources Inc. (TXG) led Canadian gold miners lower today. It fell 58 cents to $12.31 on 2.42 million shares. Centerra Gold Inc. (CG) went the other way, adding four cents to $6.98 on 3.62 million shares.

Fraser Elliott and Greg Romain's Gowest Gold Ltd. (GWA), down one-half cent to 6.5 cents on 242,000 shares, has priced its $5-million private placement. It will sell regular shares at seven cents and flow-through shares at eight cents. The cash is for working capital and continuing work on the company's Bradshaw gold deposit in the Timmins area of Northern Ontario. There is some urgency for both requirements: Gowest had a working capital deficiency of over $7-million at the end of January, much of it related to work last year at Bradshaw. Despite the company's need for cash, the placement has been proceeding glacially since Mr. Romain, president and chief executive officer, first proposed it late in April.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS