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by Stockwatch Business Reporter
New York spot gold fell $5.70 to $1,977.60 on Wednesday. The TSX Venture Exchange lost 0.25 point to 515.82, while the TSX gold index dropped 0.64 point to 267.91. Most Canadian gold miners moved lower today. First Quantum Minerals Ltd. (FM) took another hit in the wake of word that the Panamanian government will hold a referendum to decide the fate of the company's Cobre Panama mine. A week ago, First Quantum traded above $30. On Monday, it fell nearly $8 on 21 million shares. Yesterday, it fell nearly $4 on 20 million shares. Today, First Quantum lost $1.29 to $14.78 on 17.5 million shares.
There were party hats and horns aplenty among shareholders of Centerra Gold Inc. (CG). Late Tuesday, Centerra cheered a third quarter profit of $60.6-million (U.S.) and declared its usual seven-cent quarterly dividend. The company remains on track to hit its 2023 production guidance, although it is raising its prediction at Oksut and lowering it for Mount Milligan. Centerra rose 64 cents to $7.69 on 3.06 million shares today.
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