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by Stockwatch Business Reporter

The New York spot gold market was closed for Thanksgiving, but the TSX-V rose 0.13 point to 746.17 while the TSX gold index gained 2.96 points to 309.27. Most Canadian gold miners moved higher today but much of the market's attention again went to Ronald Thiessen's Northern Dynasty Minerals Ltd. (NDM), which fell 54 cents to 51 cents on 35.09 million shares yesterday.

Northern lost another 5.5 cents to 45.5 cents today on 13.49 million shares as the blowback continues from Wednesday's decision by the U.S. government to deny the company's request for permits that would have allowed the mammoth Pebble project in Alaska to proceed. An appeal will be forthcoming, says Mr. Thiessen, the company's $506,000-a-year president and chief executive officer, against the "politically motivated" decision that was "fundamentally unsupported by the administrative record" developed during the environmental impact process.

The denial is yet another roadblock for a project that has already consumed over $800-million (U.S.) in exploration and development expenses since a Cominco Ltd. geologist discovered the deposit in 1987. Over the last third of a century, several major mining companies were sufficiently intrigued to take a look, only to back away based on what they saw.

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