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by Stockwatch Business Reporter

New York spot gold closed up $11.70 to $1,147.60 Tuesday. The TSX Venture Exchange gained 8.78 points to 538.69 while the TSX Gold Index rose 3.60 points to 136.10. Canadian gold miners had yet another strong performance today, led by Yamana Gold Inc. (YRI), which jumped 23 cents to $2.82 on 7.95 million shares. Alacer Gold Corp. (ASR) was the only noteworthy exception. It fell 10 cents to $2.91 on 3.38 million shares.

Keith Neumeyer and Chris Osterman's First Mining Finance Corp. (FF) gained 3.5 cents to 40.5 cents on 1.48 million shares. The company has been an active trader since it began a series of acquisitions in late June. It successfully acquired Coastal Gold Mining Corp. in July; now it is seeking to acquire Akiko Levinson's Gold Canyon Resources Inc. (GCU: $0.32) and Peter Hooper's PC Gold Inc. (PKL: $0.08). The takeover of Gold Canyon is akin to a (small) shark swallowing a (small) whale. Gold Canyon's shareholders will hold 55 per cent of the stock of the expanded First Mining while PC Gold's shareholders will own just under 10 per cent.

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