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by Stockwatch Business Reporter
New York spot gold added $11.90 Tuesday, closing at $1,805.40. The TSX Venture Exchange lost 5.07 points to 897.40 while the TSX gold index rose 1.83 points to 286.21. Like bullion, most Canadian gold miners moved upward today. Franco-Nevada Corp. (FNV) regained $1.73 to end the day at $179.35 on 598,000 shares, while Agnico Eagle Mines Ltd. (AEM) added 48 cents to $70.73 on 739,000 shares. Torex Gold Resources Inc. (TXG) lost ground, dipping 21 cents to $14.02 on 406,000 shares.
Mark Brennan's Ascendant Resources Inc. (ASND) continues the descent that began yesterday with the release of "robust economic results" from a preliminary economic assessment of its Lagoa Salgada project in Portugal. Ascendant lost 1.5 cents to 24 cents on 115,000 shares Monday and another three cents to 21 cents on 550,000 shares today. The $132-million (U.S.) mine plan calls for a 14-year operation that would mill 26 million tonnes of ore, generating a discounted net present value of nearly $250-million (U.S.) after taxes.
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