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by Stockwatch Business Reporter

New York spot gold fell $23.60 to $1,980.90 on Monday. The TSX Venture Exchange lost 7.27 points to 530.23 while the TSX gold index fell 2.14 points to 274.65. Most Canadian-listed gold miners retreated today. McEwen Mining Inc. (MUX) lost 53 cents to $9.75 on 46,000 shares while Lundin Gold Corp. (LUG) shed 31 cents to $15.80 on 473,000 shares. First Quantum Minerals Ltd. (FM), which is fighting its best to maintain the right to operate its Cobre Panama gold mine in Panama, dipped into the single digits today, losing 49 cents to $9.90 on 5.54 million shares. The company had a $30 stock in late October.

On the other hand, Mark Bristow's Barrick Gold Corp. (ABX) lost 22 cents to $22.61 on 5.02 million shares. Barrick has received approval for the Goldrush underground gold mine at the Cortez complex, owned by Nevada Gold Mines, a joint venture between Barrick, with a 61.5-per-cent interest, and Newmont Corp. (NGT), which owns a 38.5-per-cent interest. This is a long-life project, the co-venturers cheer, one that should start production at 130,000 ounces next year and ramp up to about 400,000 ounces per year by 2028. (Newmont lost 37 cents to $52.72 on 263,000 shares on the news.)

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