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by Stockwatch Business Reporter
New York spot gold rose $15.90 to $1,542.50 on Tuesday. The TSX Venture Exchange rose 0.40 point to 583.64 while the TSX Gold Index added 9.13 points to 269.24. Canadian gold miners surged with bullion today. Oceanagold Corp. (OGC) added 18 cents to $3.26 on 10.2 million shares while Eldorado Gold Corp. (ELD) added 44 cents to $12.64 on 2.50 million shares. Silver miners joined in: Pan American Silver Corp. (PAAS) gained $1.86 to $25.14 on 1.76 million shares.
Paul Andre Huet's Royal Nickel Corp. (RNX) slid two cents to 41 cents on 10.56 million shares on word that it is selling 45 million shares at 40 cents, seeking $18-million for ramping up production at its Beta Hunt mine in Western Australia and integrating it with the company's much larger Higginsville operation, centred about 50 kilometres to the southeast. (The company could get another $2.7-million from the bought-deal financing if the underwriters exercise their overallotment option.)
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