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by Stockwatch Business Reporter

New York spot gold fell $2.60 to $1,717.40 on Tuesday. The TSX-V moved lower, dropping 3.01 points to 605.28 while the TSX gold index rebounded 5.97 points to 231.73. Most Canadian-listed gold miners moved higher today, but yesterday's big gainer, Serafino Iacono's GCM Mining Corp. (GCM), lost 16 cents to $3.57 on 495,000 shares. The moves follow word early Monday that the company will merge with Ian Telfer's Aris Gold Corp. (ARIS: $1.81).

McEwen Mining Inc. (MUX) was among the leaders. It rose 3.5 cents to 45.5 cents on 1.49 million shares. McEwen gave up on saving its New York Stock Exchange listing the hard way, by elevating its stock. Instead, it is rolling back its shares 1:10. After the consolidation, McEwen will have 47 million shares outstanding -- but with continued listings on both the NYSE and TSX exchanges.

Brian Fowler's Northstar Gold Corp. (NSG) stumbled one cent to end the day at 7.5 cents on one million shares. The slide -- to six cents at one point -- followed word that the company is estimating the Allied and Vein 1 zones at its Miller gold project, near Kirkland Lake, with between 250,000 and 500,000 ounces of gold. This is not a resource but an "exploration target estimate," based on an expectation of between 5.6 million and 7.67 million tonnes of mineralization grading between 1.39 and 2.04 grams of gold per tonne.

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