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by Stockwatch Business Reporter
New York spot gold moved higher Wednesday, adding $19.40 to $3,133.70. The TSX Venture Exchange rose 4.96 points to 631.15 while the TSX gold index added 0.21 point to 456.80.Jaguar Mining Inc. (JAG) was among those moving higher today as it added four cents to $2.99 on 466,000 shares. The gain, the third modest increase in three days, follows an updated resource and reserve estimate released late Monday -- one that showed hefty increases in both the reserve and inferred resource estimates.
On the other hand, Americas Gold & Silver Corp. (USA) continued its slow decline for a fourth day, dipping one cent to 71 cents on 671,000 shares. New Found Gold Corp. (NFG) also continues to struggle. It lost 13 cents to $1.46 on 1.43 million shares today. K92 Mining Inc. (KNT) tagged along, dropping 14 cents to $12.01 on 1.34 million shares.
Michael Durose's Lavras Gold Corp. (LGC) rose two cents to $2.07 on 360,000 shares on word it has drilled a 251-metre interval grading 1.17 grams of gold per tonne at its Fazenda do Posto target, on the western side of its LDS project in southern Brazil. The hit was among one of 12 new holes spanning 4,000 metres just completed, 11 of which hit gold mineralization. The Fazenda discovery is adjacent and immediately northwest of the Butia resource at LDS.
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