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by Stockwatch Business Reporter

New York spot gold rose 20 cents to $1,954.60 on Monday. The TSX Venture Exchange lost three points to 625.44 while the TSX gold index dipped 0.58 point to 291.07. Most Canadian gold miners moved lower today. McEwen Mining Inc. (MUX), an $11 stock in June that dipped below $9 in early July, managed a 46-cent gain to $11.50 on 101,000 shares today. New Gold Inc. (NGD) was strong, adding five cents to $1.66 on 1.48 million shares, but Ero Copper Corp. (ERO) was not, dropping 12 cents to $28.63 on 601,000 shares.

Elaine Ellington's Omai Gold Mines Corp. (OMG) was unchanged at four cents on 5.09 million shares on word it has drilled a 20.2-metre interval averaging 5.18 grams of gold per tonne at its Omai project in Guyana, a hit that averaged 12.7 grams per tonne over 7.9 metres. The headline hit came from one of five new holes. Two of the other four were barren and the two others managed just a 5.63-gram-per-tonne hit over 1.5 metres in one case and 7.16 grams per tonne over just 0.3 metre in the other.

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