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by Stockwatch Business Reporter
New York spot gold slid $37.30 to $1,913.80 on Thursday. The TSX-V rose 0.85 point to 630.68 while the TSX gold index slid 8.72 points to 301.05. Most Canadian gold miners succumbed to the slump today. Torex Gold Resources Inc. (TXG) lost $1.19 to $17.73 on 528,000 shares while Karora Resources Inc. (KRR) lost 30 cents to $5.02 on 1.25 million shares. Neither had news today.
One company with news, Iamgold Corp. (IMG), lost 12 cents to $3.71 on 2.83 million shares on word that it has drilled a 342.2-metre interval averaging 1.99 grams of gold per tonne in the Gosselin area near its Cote gold deposit -- and soon to be, one hopes, its Cote mine -- southwest of Timmins in Northern Ontario. Two higher-grade intervals supplied most of the gold, including a 101.8-metre stretch averaging 3.05 grams per tonne. A second hole delivered 1.29 grams per tonne over 313 metres and several others managed lesser grades over considerable intervals.
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