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by Stockwatch Business Reporter
New York spot gold slipped $8.90 to $1,280.30 on Wednesday. The TSX Venture Exchange fell 6.27 points to 818.87 while the TSX Gold Index lost 5.45 points to 215.59. Yamana Gold Inc. (YRI) slid 24 cents to $3.97 on 10.87 million shares while Alacer Gold Corp. (ASR) resisted bullion's tug, adding one cent to $2.42 on 3.74 million shares.
Mark Kolebaba's Adamera Minerals Corp. (ADZ) dropped 1.5 cents to 20 cents on 4.01 million shares. Adamera jumped 4.5 cents to 21.5 cents on 6.21 million shares Tuesday, on word that it has the required drill permits for the Cooke Mountain gold project in Washington. The company is proposing a "first-pass" -- usually a synonym for "small" -- drill program that will test up to 10 targets. Adamera's permits now cover seven targets on state land, including Big Banana; the company is also seeking permits for targets on federal land. Mr. Kolebaba, president and chief executive officer, says that he expects the 3,000 metres of drilling will start in May.
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