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by Stockwatch Business Reporter

New York spot gold jumped $20.30 to $1,997.90 on Tuesday. The TSX Venture Exchange fell 2.84 points to 529.62 while the TSX gold index added 5.43 points to 273.62. Most Canadian gold miners moved higher today, and a few did so with gusto. Iamgold Corp. (IMG) rallied 14 cents to $3.31 on 1.53 million shares and Alamos Gold Inc. (AGI) added 80 cents to $18.47 on 1.34 million shares. First Quantum Minerals Ltd. (FM) fell again today, losing 58 cents to $14.19 on 7.86 million shares on another warning that its Cobre Panama mine is about to run out of power.

Paul Huet's Karora Resources Inc. (KRR) jumped 21 cents to $4.42 on 1.25 million shares but it had news to prod it along. The company now lists its Beta Hunt mine in Western Australia with a reserve of 6.58 million tonnes grading 2.7 grams of gold per tonne, about 573,000 ounces. This is a modest increase over the previous calculation, one driven by an improved grade.

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