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by Stockwatch Business Reporter

New York spot gold rose $0.30 to $1,877.20 on Wednesday. The TSX-V added 8.14 points to 602.39 while the TSX gold index dipped 2.21 points to 302.68. Most Canadian gold miners slipped back today. Iamgold Corp. (IMG) fell 14 cents to $3.51 on 2.72 million shares and McEwen Mining Inc. (MUX) lost 36 cents to $9.32 on 36,000 shares. Among those northbound today was Atalaya Mining PLC (AYA), which added 55 cents to $5.73 on 4,000 shares.

Peter Akerley's Erdene Resource Development Corp. (ERD) came off a halt called midday Tuesday pending news, although the news may have reached some ears prematurely. While Erdene lost two cents to 33 cents on 966,000 shares today, it had leapt 5.5 cents to 35 cents on 530,000 shares -- and been as high as 38 cents at one point -- just before the noontime halt yesterday, pending news.

The news, which followed within mere minutes of the halt, was that Erdene has "executed strategic alliance and investment agreements" -- a full $40-million (U.S.) worth of strategizing -- with Mongolian Mining Corp. (MMC) to develop Erdene's Bayan Khundii gold project in southwestern Mongolia as a joint venture run through an Erdene subsidiary based in Mongolia.

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