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by Stockwatch Business Reporter

New York spot gold dropped $5.80 Wednesday, closing at $2,658.20. The TSX Venture Exchange added 3.08 points to 590.17 while the TSX gold index dipped 1.05 points to 372.90. A few Canadian listed gold miners moved higher with enthusiasm today. Capstone Copper Corp. (CS) added 16 cents to $10.91 on 3.85 million shares. The rally followed word that its Mantoverde copper-gold mine in Chile has reached commercial production. Dynacor Group Inc. (DNG) was silent, but it added 15 cents to $5.25 on 41,000 shares. New Gold Inc. (NGD) on the other hand was southbound, as it fell six cents to $3.94 on 3.09 million shares.

Randy Turner's Independence Gold Corp. (IGO) lost one-half cent to 22 cents on two million shares on word it is seeking to raise $3-million. The company is offering 13.64 million shares at 22 cents apiece. Investors can elect to buy flow-through shares, or they can take regular shares that will have one-half of a warrant attached. Some of the hard dollars raised will go to cover administrative and corporate costs, but the bulk of the cash to be raised is for further work on the company's 3Ts project in central British Columbia.

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