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by Stockwatch Business Reporter
New York spot gold lost $4.70 to $1,497.50 on Thursday. The TSX Venture Exchange rose 2.20 points to 578.10 while the TSX Gold Index lost 0.78 point to 251.95. Most Canadian golds moved little today, although some were busy traders. Kinross Gold Corp. (K) dropped four cents to $6.21 on 4.45 million shares on sample assays from the JP Ross project in Yukon.
Quentin Yarie's MacDonald Mines Exploration Ltd. (BMK) got investors to raise an eyebrow -- and its share price -- with word that its first two holes of a 2,000-metre drill program at hand-me-down Scadding encountered visible gold. Up 1.5 cents to 7.5 cents on 1.94 million shares on the news, MacDonald says that the first hole of the year hit an interval with "over 12 pinheads of visible gold." The second hole also encountered visible gold, but there was no mention of the quantity or size of the flakes -- an omission that implies the answer: few and tiny.
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