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by Stockwatch Business Reporter
New York spot gold lost $5.80 to $1,907.30 on Monday. The TSX Venture Exchange fell 10.07 points to 597.07 while the TSX gold index dropped 3.48 points to 273.21. Most Canadian gold miners moved lower today. Novagold Resources Inc. (NG) dropped 19 cents to $5.68 on 206,000 shares while Lundin Gold Inc. (LUG) added 19 cents to $16.42 on 380,000 shares.
Collin Kettell's New Found Gold Corp. (NFG) rose six cents to $6.02 on 117,000 shares. The company has signed a non-binding agreement with Garrett Macdonald's Maritime Resources Corp. (MAE) that would allow it to have ore toll milled at Maritime's Pine Cove mill near Baie Verte in northwestern Newfoundland, 270 kilometres west of New Found's Queensway project. Details of the deal are sparse -- it is just a tentative arrangement, remember -- but the mill is capable of 1,400 tonnes per day and has a large tailings capacity and access to port infrastructure.
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