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by Stockwatch Business Reporter

New York spot gold broke $4,500 Tuesday evening but was unable to stick its landing, as bullion fell $5.30 to $4,478.40 on Christmas Eve. The TSX Venture Exchange rose 5.72 points to 996.40 -- it topped 1,000 yesterday -- and the TSX gold index shed 7.18 points to 853.22. Minera Alamos Inc. (MAI) paid the festive season lull no mind as it leapt 3.5 cents to 51 cents on 8.68 million shares. Most Canadian miners moved lower, but at a leisurely pace: McEwen Inc. (MUX) was typical, as it dropped 41 cents to $26.96 on 72,000 shares.

Andrew Pollard's Blackrock Silver Corp. (BRC) rose seven cents to $1.28 on 2.37 million shares, but it had news. The company is offering 13.64 million shares at $1.10, seeking $15-million. Adding to the bargain, each share comes with one-half of a warrant, exercisable at $1.50 over two years. The sweetener may not have been needed -- or perhaps it was -- as the company says that "two cornerstone investors" have already spoken for all, or at least most, of the shares on offer. Mr. Pollard, president and chief executive officer, was naturally pleased as punch with the backing "from two strategic buyers, including one of our largest shareholders and a new cornerstone investor," which, he gushed, "demonstrates strong alignment around our vision for Tonopah West."

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