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by Stockwatch Business Reporter
New York spot gold lost $11.60 to $1,527.10 on Thursday. The TSX Venture Exchange fell 2.67 points to 581.15 while the TSX Gold Index slid 7.72 points to 261.98. New Gold Inc. (NGD) helped lead Canadian gold miners lower today. It shed 11 cents to $1.52 on 4.02 million shares.
Marco Durante and Stan Bharti and Dr. Andreas Rompel's African Gold Group Inc. (AGG) has hired a Mali-based company to perform its "upcoming" drilling program at the Kobada project in Mali. Shareholders were initially enthused with the news, sending the stock to a morning high of 40 cents before bullion's slump kicked in. (African Gold lost one-half cent to 36 cents on 601,000 shares.) It was a different story last week, when the stock managed an 18.5-cent gain to 55 cents on 11.1 million shares over two days. That move came on the heels of word that the company had hired another local company to "oversee and manage the upcoming diamond drilling campaign."
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