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by Stockwatch Business Reporter

New York spot gold, which reached $3,430 a week ago, lost another $19.30 today, ending the day at $3,316.70. The TSX Venture Exchange dropped 11.7 points to 789.43 while the TSX gold index reacted to both the market and bullion retreats by sagging 10.35 points to 509.82. Avino Silver & Gold Mines Ltd. (ASM) slid 30 cents to $4.58 on 1.51 million shares today, and it had plenty of company. Accordingly, the few bucking the downdraft were worthy of note: Artemis Gold Inc. (ARTG) was one, as it added 28 cents to $25.98 on 207,000 shares.

Scott Hicks and Pierre Lassonde's Prime Mining Corp. (PRYM) had a good day, jumping 27 cents to $2.44 on 20.01 million shares, but it could be one of its last days. Prime, you see, has agreed to a friendly merger with Jody Kuzenko's Torex Gold Resources Inc. (TXG). Torex, which slid $1.60 to $41.25 on 1.38 million shares on the news, will exchange 0.06 of a share for each Prime share. The exchange implies a premium of between 18 and 32 per cent depending on how you calculate it, and it credited Prime with a value of nearly $450-million -- before today's drop, that is.

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