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by Stockwatch Business Reporter
New York spot gold fell $1.30 to $1,979.50 on Friday. The TSX Venture Exchange rose 11.62 points to 530.50 while the TSX gold index lost 2.79 points to 267.59. Most Canadian gold miners moved lower today, but only a few with vigour. One was Karora Resources Inc. (KRR), which fell eight cents to $4.23 on 425,000 shares. Another was Kinross Gold Corp. (K), which fell 19 cents to $7.30 on 5.79 million shares. Meanwhile, a laggard of late, First Quantum Minerals Ltd. (FM), managed a 22-cent gain to $15.31 on 3.59 million shares.
Well, that was quick. Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG), down six cents to $4.96 on 213,000 shares, has completed its surface trenching in the Keats area of its Queensway project in north-central Newfoundland. The effort, which began in mid-August, saw the company excavate between three and nine metres of overburden from an area 200 metres along strike and about 70 metres wide -- sufficient to expose the surface expression of the Keats Main zone.
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