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by Stockwatch Business Reporter

New York spot gold lost $32.20 Thursday, closing at $3,324.70. The TSX Venture Exchange rose 2.23 points to 754.08 while the TSX gold index added 2.57 points to 502.21. Among the gold miners making more adventurous treks today was McEwen Mining Inc. (MUX), which gained 28 cents to $15.23 on 191,000 shares. Taseko Mines Ltd. (TKO) went the other way, dropping 14 cents to $4.43 on 2.47 million shares.

Keith Boyle and Melissa Render's New Found Gold Corp. (NFG) also slipped a bit today, dropping two cents to $1.95 on 260,000 shares. News was arguably the culprit here -- just not in the normal way. The market had been promised a preliminary economic assessment of the company's Queensway project in north-central Newfoundland late in the second quarter, and we are now early into the company's third quarter with neither hide nor tail of the dream sheet having appeared.

When it eventually heaves into view, the preliminary study should be an interesting read. The dream sheet will complete the promotional transition of what investors interpreted just four years ago to be a large, bonanza-grade deposit into two million lower-grade ounces scattered along the Appleton fault. (The company lists 18 million tonnes indicated at 2.4 grams of gold per tonne and 10.7 million tonnes inferred at 1.77 grams per tonne.)

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