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by Stockwatch Business Reporter
New York spot gold dropped $33.70 Thursday, ending the day at $1,771.10. The TSX Venture Exchange followed suit, dropping 28.15 points to 1,032.28, while the TSX gold index shed 8.83 points to 278.50. New Gold Inc. (NGD) helped lead the retreat, dropping 10 cents to $2.06 on 4.96 million shares. It had plenty of company. Eldorado Gold Corp. (ELD) fell 91 cents to $14.61 on 1.45 million shares and Osisko Gold Royalties Ltd. (OR) fell $1.03 to $13.06 on 1.59 million shares.
There was plenty of interest today in Derrick Weyrauch's Palladium One Mining Inc. (PDM), which added two cents to 33 cents on 7.13 million shares today. The move was a delayed reaction to Wednesday's news that it has sold 43.1 million shares at 29 cents, raising $12.5-million, 1.5 million flow-through shares at 34 cents for another $500,000, and five million charity flow-through shares at 40 cents, bringing the entire placement to $15-million.
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