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by Stockwatch Business Reporter

New York spot gold lost $20.40 to $4,655.60 on Monday. The TSX Venture Exchange added 4.08 points to 981.51 while the TSX gold index lost 6.21 points to 930.73. Canadian gold miners were varied today. Jaguar Mining Inc. (JAG) helped set the pace southward, as it lost 23 cents to $6.70 on 341,000 shares. Orvana Minerals Corp. (ORV) gained altitude, adding four cents to $1.70 on 265,000 shares today.

Some gold promoters still insist their share price undervalues their company -- just not with the same fervour as before. David Wolfin's Avino Silver & Gold Mines Ltd. (ASM) added 37 cents to $9.42 on 1.28 million shares today on word that the regulators have accepted its notice that it intends to make a normal course issuer bid (NCIB) for its own stock, potentially buying back 5 per cent of the 168 million shares outstanding.

Or not. The promotional nourishment offered by Mr. Wolfin, Avino's president and chief executive officer, came with a side of waffle: "Avino has enjoyed significant share price appreciation over the past nine months," he conceded, before blathering that the company was implementing the NCIB "to provide flexibility and optionality in the event we determine our share price does not adequately reflect the underlying value and long-term potential of the Company." Presumably that means that Avino will follow the old adage of "buying on dips" -- assuming the dips are deemed to be deep enough.

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