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by Stockwatch Business Reporter
New York spot gold closed unchanged at $1526.60 on Monday. The TSX Venture Exchange rose 1.29 points to 583.24 while the TSX Gold Index lost 0.40 point to 260.11. Iamgold Corp. (IMG) lost three cents to $4.83 on 3.9 million shares on word that it has resumed mining in the northern pits of its Rosebel gold mine in Suriname, although work in the southern pits remains halted. The company suspended mining two weeks ago after a man died on the property while engaged in illegal mining.
Mark O'Dea and Donald McInnes's Sun Metals Corp. (SUNM) slumped seven cents to 35.5 cents on 3.3 million shares on assays from another hole drilled at its Stardust project in north-central British Columbia. The hole returned an 86.4-metre zone starting at a down-hole depth of 537 metres that averaged 1.65 per cent copper, 1.56 grams of gold and 28.8 grams of silver per tonne, an equivalent of 4.75 grams of gold per tonne. This is the first hole to be drilled in the 421 zone north of the discovery hole, which returned an equivalent of eight grams of gold per tonne over 100 metres.
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