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by Stockwatch Business Reporter

New York spot gold lost $9.90 to $1,914.90 on Monday. The TSX Venture Exchange rose 0.08 point to 570.17 while the TSX gold index fell 3.40 points to 267.38. Most Canadian gold miners moved lower with bullion. McEwen Mining Inc. (MUX), a $13 stock in April, continued its subsequent swoon into early fall, dropping 63 cents to $8.62 on 55,000 shares today.

Novagold Resources Inc. (NG), another market laggard since it traded above $9 early this year, lost nine cents to $5.77 on 419,000 shares today. The good news is that it is still higher than the $5.08 to which it slumped at the end of June, thanks to continued challenges with its Donlin gold project in Alaska.

Charles Funk's Heliostar Metals Inc. (HSTR) rose one-half cent to 25 cents on 1.4 million shares on word it has drilled a 63-metre interval averaging 10.4 grams of gold per tonne in one of two holes drilled at its Ana Paula project in Mexico. This was a deeper -- but still not-so-deep interval -- in the headline hole. The shallower interval returned 8.17 grams per tonne over 35.9 metres. The second hole also yielded two intervals. The shallower of the two produced 6.03 grams per tonne over 57 metres, while a somewhat deeper zone delivered nearly 33 grams per tonne over 14.6 metres.

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