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by Stockwatch Business Reporter
New York spot gold lost $7.10 to $1,454.20 on Wednesday. The TSX Venture Exchange rose 2.08 points to 533.81 while the TSX Gold Index shed 1.01 points to 239.46. Guyana Goldfields Inc. (GUY), a $10 stock in 2016, was among the Canadian gold miners retreating with bullion today. It dropped four cents to 58 cents on 771,000 shares. McEwen Mining Inc. (MUX) also dropped, losing one cent to $1.53 on 540,000 shares despite word that it is buying the Gold Bar project in Nevada from Ely Gold Royalties Inc. (ELY: $0.38).
Kirkland Lake Gold Ltd. (KL), a $66 stock a week ago recovered $1 to $52.97 on 4.48 million shares today, while its friendly takeover target, Detour Gold Corp. (DGC), added 65 cents to $23.23 on 6.7 million shares. The gains come despite analysts and investors continuing to pan the proposed merger, since news of the deal came early this week.
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