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by Stockwatch Business Reporter

New York spot gold rose $0.90 to $1,460.60 on Monday. The TSX Venture Exchange lost 0.33 point to 537.49 while the TSX Gold Index dipped 1.41 points to 242.62. Most Canadian gold miners followed bullion lower today, although Torex Gold Resources Inc. (TXG) bucked the trend, gaining 13 cents to $18.60 on 679,000 shares. Detour Gold Corp. (DGC) added 41 cents to $24.34 on 1.32 million shares today while its suitor, Kirkland Lake Gold Ltd. (KL), added 16 cents to $53.77 on 1.87 million shares. The market is still mulling their plan to merge and there is growing speculation that their arrangement may need a tweak or two.

Quentin Yarie's MacDonald Mines Exploration Ltd. (BMK) gained one-half cent to nine cents on 5.78 million shares on word that it has drilled 7.99 grams of gold per tonne over 26.2 metres from one of four new holes at its SPJ property, east of Sudbury in Ontario. This hit is a new find on a yet-to-be-named structure north of the Scadding East-West pit. The bulk of the near-surface gold in that glittering hole came from one 13.24-metre interval that averaged 11.54 grams per tonne and another that returned 10.98 grams per tonne over 4.98 metres. Two of the three other holes yielded modest amounts of gold over narrow intervals from the Bristol and Villeneuve zones. The remaining hole did not encounter gold.

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