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by Stockwatch Business Reporter
New York spot gold fell $20.70 Thursday, closing at $1,747.20. The TSX Venture Exchange rose 7.72 points to 881.98 while the TSX gold index fell 7.48 points to 266.09. Most Canadian gold miners were in full retreat today. Kinross Gold Corp. (K) slid 24 cents to $6.72 on 5.44 million shares and Eldorado Gold Corp. (ELD) kept it company, dropping 54 cents to $9.97 on 877,000 shares. Neither company had news today.
One company that did have news, Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG), bucked the trend by gaining 54 cents to $7.66 on 445,000 shares. The company has new assays from its Queensway project in north-central Newfoundland, with hits of up to 1,131.2 grams of gold per tonne from the new Big Dave zone. These are grab samples, not long drill intersections, but it was nevertheless welcome news to investors who have been growing anxious since the company's stock began an assay-starved decline from $13.50 in June.
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