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by Stockwatch Business Reporter

So much for Thursday's breather. New York spot gold leapt $95.70 to $3,422.70 on Monday as American markets took another hit. The TSX took a hit too, although the TSX Venture Exchange avoided most of the downdraft, probably because it is heavily weighted with gold stocks. The TSX-V did drop 2.91 points to 630.92 while the TSX gold index rose 4.06 points to 494.95. Dundee Corp. (DC.A) was strong, as it added 18 cents to $2.24 on 195,000 shares. Avino Silver & Gold Mines Ltd. (ASM) fell eight cents to $2.71 on 723,000 shares.

Eira Thomas's Westhaven Gold Corp. (WHN) rose one-half cent to 16 cents on 629,000 shares. The company recently cheered a preliminary economic assessment of its Shovelnose gold project, south of Merritt in southwestern British Columbia. Now it is pondering a big budget to take the project to prefeasibility. The two-phase recommended plan calls for additional exploration to start. Over 27,000 metres of infill drilling accounts for most of the $15.7-million phase I budget, with 10,000 metres of stepout and exploration drilling accounting for most of the rest.

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