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by Stockwatch Business Reporter
New York spot gold retreated $6.70 Wednesday, ending the day at $1,736.90. The TSX Venture Exchange fell 8.87 points, closing at 955.09 while the TSX gold index dipped 2.82 points to 298.22. Most Canadian gold miners moved little today. Endeavour Mining Corp. (EDV) rose nine cents to $27.11 on 1.14 million shares while Kirkland Lake Gold Corp. (KL) fell 54 cents to $44.07 on 844,000 shares. Neither company had anything new to say this week.
One company with news -- glittering news although it is becoming old hat with investors -- was Collin Kettell and Craig Roberts's New Found Gold Inc. (NFG). The company said this morning that an infill drill hole in the Keats zone of its Queensway gold project, west of Gander in Newfoundland, has returned 106.46 grams of gold per tonne over 9.15 metres. (The hit occurred within a 14.9-metre interval that averaged 69.15 grams per tonne, so the other 5.75 metres averaged a pedestrian 10 grams per tonne -- a yawner for New Found but a result most promoters yearn for.)
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