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by Stockwatch Business Reporter
New York spot gold retreated $13.30 to $1,919.20 on Monday. The TSX Venture Exchange added 4.25 points to 533.38 while the TSX gold edged 0.06 point higher to 274.42. Oceanagold Corp. (OGC) led a group of Canadian gold miners higher today. It rose three cents to $2.53 on 1.96 million shares despite a lengthy silence. Torex Gold Resources Inc. (TXG) helped lead the retreat. It fell 33 cents to $14.24 on 188,000 shares.
Tom Palmer's Newmont Corp. (NGT) rose 72 cents to $54.59 on 366,000 shares on word it has settled a labour dispute at its Penasquito mine in Zacatecas, Mexico. "This unnecessary strike has caused unnecessary hardship for all our employees, contractors, host communities, suppliers and customers," groused Mr. Palmer, president and chief executive officer, adding that Newmont would continue to honour its commitments and comply with the law and the collective bargaining agreement.
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