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by Stockwatch Business Reporter
New York spot gold surged $59.30 to $1,927.80 on Friday as the situation in Gaza worsens. The TSX Venture Exchange added 0.26 point to 529.13 while the TSX gold index leapt 10.25 points to 274.36. Most Canadian gold miners moved sharply higher today. Lundin Gold Inc. (LUG) led the way, adding $1.32 to $16.55 on 476,000 shares despite word it produced 112,212 ounces of gold in its third quarter -- nearly 10,000 fewer than a year ago.
McEwen Mining Inc. (MUX) kept Lundin company, with a 73-cent gain to $10.66 on 129,000 shares. Newmont Corp. (NGT) was a laggard, managing just a 75-cent gain to $53.87 on 420,000 shares on word shareholders of Newcrest Mining Ltd. (NCM: $22.89) have approved Newmont's acquisition of their company.
Starcore International Mines Ltd. (SAM) lost one cent to 12 cents on 3,000 shares. The company held its annual general meeting yesterday and all seven directors were handily re-elected -- some more handily than others. While Jordan Estra, Tanya Lutzke and Federico Villasenor each received nearly 99.8-per-cent support, the company's four officers, Robert Eadie, chairman and chief executive officer, Pierre Alarie, president, Salvador Garcia, chief operating officer, and Gary Arca, chief financial officer, each got approval from just 78.8 per cent of the votes cast.
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