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by Stockwatch Business Reporter

New York spot gold rose $7.20 to $1,971.70 on Wednesday. The TSX Venture Exchange added 5.07 points to 620.25 while the TSX gold index dipped 1.46 points to 289.48. Most Canadian gold miners had modest moves today. Osisko Gold Royalties Ltd. (OR) fell 28 cents to $19.50 on 726,000 shares while Argonaut Gold Inc. (AR) added one cent to 58 cents on 1.04 million shares.

When is enough enough when it comes to gold discoveries? "Never," appears to be the answer for Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG). New Found, up one cent to $6.18 on 201,000 shares today, soared above $13 two summers ago on the strength of seemingly never-ending bonanza-grade hits at Keats, Lotto and Golden Joint at Queensway in north-central Newfoundland. The company continues to drill with wild abandon at Queensway, beavering away with a 500,000-metre drill program that is not set to wrap up until late this year -- and once complete, a new phase is sure to begin.

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