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by Stockwatch Business Reporter
New York spot gold slumped $12.20 to $1,506.50 on Friday. The TSX Venture Exchange added 2.25 points to 588.51 while the TSX Gold Index slid 7.87 points to 248.08. Canadian gold miners followed bullion lower today. Agnico Eagle Mines Ltd. (AEM) helped lead the way. It slid $2.70 to $78.48 on 1.87 million shares. Alio Gold Inc. (ALO) managed to break even, closing unchanged at 93 cents on 171,000 shares.
Nicolas Banados and Michael Hodgson's Serabi Gold PLC (SBI) has finally received a preliminary economic assessment of its Coringa gold project in Para, Brazil. The company had promised the dream sheet in late July, but a month ago, it said that it would be delayed to late August because of changes to the method of handling tailings. Investors have apparently decided that the study was worth the wait, as Serabi got to $1.44 before ending the day up four cents to $1.30 on 30,000 shares.
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