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by Stockwatch Business Reporter
New York spot gold fell $3.70, closing at $1,265.20 on Thursday. The TSX Venture Exchange lost 3.42 points to 785.98 while the TSX Gold Index rose 1.75 points to 223.45. Most Canadian gold miners traded in a narrow range today. Osisko Gold Royalties Inc. (OR) lost 25 cents to $13.63 on 763,000 shares while Iamgold Corp. (IMG) gained 22 cents to $5.29 on 9.52 million shares.
Michael Jones's Platinum Group Metals Ltd. (PTM), up one cent to $2.69 on 69,000 shares, has a prefeasibility study of its Waterberg project in South Africa. The study follows a preliminary economic assessment that was completed two years ago. The prefeasibility study credits Waterberg with a discounted net present value of $320-million (U.S.) after taxes, based on trailing average prices, and a rosier $507-million (U.S.) based on "consensus average metal prices." (An analyst consensus is an average; and the consensus of investors is that the average analyst is overly optimistic.)
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