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by Stockwatch Business Reporter

New York spot gold lost $0.80 to $1,240.20 on Monday. The TSX Venture Exchange fell 9.61 points to 715.63 while the TSX Gold Index dipped 0.59 point to 188.33. Most Canadian gold miners moved little today but Guyana Goldfields Inc. (GUY) slumped $1.05 to $3.77 on 4.42 million shares. The company cut its 2018 production forecast to a maximum of 185,000 ounces from its previous estimate of up to 210,000 ounces. The company is facing delays at its Aurora mine because of the late arrival of equipment and a slow start by its mining contractor.

Eric Sprott's Alexandria Minerals Corp. (AZX), unchanged at four cents on 380,000 shares, appears to have the upper hand in its proxy fight with Eric Owens, who was fired as the company's $200,000-per-year president and chief executive officer in February. Mr. Owens said that the company "took the drastic action" of terminating him in response to his call for change at the company. The company says that it fired him for cause, because he was "engaging in an unauthorized and dilutive financing scheme offered to a limited network of his family and friends."

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