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by Stockwatch Business Reporter
New York spot gold gained $8.60 to $1,230.70 on Monday. The TSX Venture Exchange fell 5.89 points to 583.63 while the TSX Gold Index rose 2.55 points to 166.89. Most Canadian golds moved higher today. Detour Gold Corp. (DGC), still locked in a battle for control with a dissident shareholder, added 39 cents to $10.26 on 945,000 shares. Yamana Gold Inc. (YRI) traded briskly, adding eight cents to $2.85 on 6.15 million shares.
Jared Lazerson's MGX Minerals Inc. (XMG), up 4.5 cents to 49.5 cents on 501,000 shares, has received drill assays of up to 21 grams of gold per tonne over 2.23 metres in a new discovery at Zone 2 on the Fran project in northwestern British Columbia. Fran is 30 kilometres southwest of the Mount Milligan gold and copper mine, operated by Centerra Gold Corp. (CG: $5.35). Mr. Lazerson, president and chief executive officer, says that while his company's predecessors were unwilling to assume the risk of drilling deeper at Fran, the move appears to have paid off for MGX, given the "initial favourable results."
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