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by Stockwatch Business Reporter

New York spot gold lost $1.80 to $1,265.90 on Wednesday. The TSX Venture Exchange rose 0.29 point to 708.52 while the TSX Gold Index added 5.01 points to 230.69. Most Canadian gold miners moved higher despite bullion's decline. Eldorado Gold Corp. (ELD) gained 27 cents to $5.52 on 6.37 million shares and Yamana Gold Inc. (YRI) added 32 cents to $6.34 on 13.35 million shares.

Ghislain Morin and Serge Roy's Metanor Resources Inc. (MTO) lost one-half cent to 7.5 cents on 1.76 million shares following a brief halt called to reveal a revised resource estimate for the Barry property. (Barry, 190 kilometres northeast of Val d'Or, is about 120 kilometres from the company's mill at the Bachelor mine.) Metanor now has 5.38 million tonnes measured at 1.21 grams per tonne, 3.04 million tonnes indicated at 0.97 gram per tonne and 31.92 million tonnes inferred at 1.02 grams per tonne -- a grand total of 1.35 million ounces.

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