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by Stockwatch Business Reporter

Having broken through the fence that kept bullion restrained in a narrow pen for the past four weeks yesterday, New York spot gold ambled southward some more today, dropping another $52 to $4,542.90 on Wednesday. Prodded by gold, the TSX Venture Exchange dropped 13.24 points to 982.52 while the TSX gold index fell another 23.38 points to 837.82. Most of Canada's precious metals miners lost ground today. Alamos Gold Inc. (AGI) was typical of most, as it lost $1.12 to $55.93 on 2.47 million shares. China Gold International Resources Corp. (CGG), on the other hand, shot 90 cents higher, to $30.06, on 96,000 shares.

Alan Carter's Cabral Gold Inc. (CBR) rose five cents to 90 cents on 1.11 million shares on word that it is transitioning to the plant erection stage at its Cuiu Cuiu project in Brazil. The first phase of its gold-in-oxide, heap-leach mine is now 70 per cent complete and 85 per cent of the costs have now been committed -- on budget and on schedule, the company wants you to know. As a result, Cabral is expecting to commission the plant this summer and to begin commercial production before the end of the year.

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