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by Stockwatch Business Reporter

New York spot gold fell $48 Wednesday, sitting at $3,984 as North American stock markets closed. The TSX Venture Exchange tagged along, dropping five points to 817 today, while the TSX gold index lost 14 points to 872. Most precious metals miners remained close to home today. Those on more adventurous hikes included Equinox Gold Corp. (EQX), which dropped 56 cents to $15.41 on 4.52 million shares, and First Quantum Minerals Ltd. (FM), which added 15 cents to $34.31 on 3.28 million shares.

And then there was Altius Minerals Corp. (ALS), which fell to an intraday low of $49.69, ending the day down 2.55 to $50.46 on 428,000 shares. It did so on news that it is looking to acquire Kirill Klip's TNR Gold Corp. (TNR) through a definitive arrangement that will have it pay 38 cents per share in cash and another 10 cents per share in stock of a TNR Gold spinoff company.

That is a deemed $122-million value that offers TNR's shareholders a hefty premium, given that TNR ended Tuesday at just 30 cents. TNR Gold came off a halt, adding 12 cents to 42 cents on 19.44 million shares today. A major shareholder of TNR Gold, Jon Evensen's Eucalyptus Resources Opportunities Fund, has been battling Mr. Klip for control of TNR Gold this year. There is no word of what Eucalyptus thinks of the offer as yet.

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