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by Stockwatch Business Reporter
New York spot rose $6.30 to $1,332.60 on Wednesday. The TSX Venture Exchange rose 2.30 points to 591.62 while the TSX Gold Index rose 3.38 points to 201.07. Most Canadian gold miners followed bullion higher. Barrick Gold Corp. (ABX) was the volume and value leader, adding 30 cents to $18.31 on 8.99 million shares. Guyana Goldfields Inc. (GUY) dropped two cents to 92 cents on 572,000 shares. It had news today, but of an administrative nature: Peter Dey resigned from the company's board, citing health issues, after a three-month stay.
Investors shrugged off assay results that Iamgold Corp. (IMG: $3.69) received from another 21 holes drilled into the Lac Gamble zone at the Rouyn gold project in northwestern Quebec, but the news resonated with shareholders of its partner, Dr. Gerald Riverin's Yorbeau Resources Inc. (YRB). Yorbeau hit an intraday high of five cents but ended the day down one-half cent to 3.5 cents on 3.07 million shares. The assays included a 29.7-metre hit that averaged nine grams of gold per tonne, aided by an 11.1-metre interval averaging 17.5 grams per tonne. A second hole yielded 6.6 grams per tonne over 10.9 metres and a third returned 3.7 grams per tonne over 12.8 metres.
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