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by Stockwatch Business Reporter

New York spot gold rose $13.40 Tuesday to $3,691.50 but the TSX Venture Exchange slid 16.71 points to 876.27 while the TSX gold index lost 13.80 points to 660.58. Most Canadian gold miners lost ground today. Silvercorp Metals Inc. (SVM) lost 35 cents to $7.07 on 1.54 million shares and Jaguar Mining Inc. (JAG) retreated 29 cents to $5.51 on 517,000 shares. Altius Minerals Corp. (ALS), on the other hand, jumped 23 cents to $31.24 on 86,000 shares.

Tony Makuch's Discovery Silver Corp. (DSV) lost 18 cents to $4.88 on 5.78 million shares. The company has arranged a $250-million (U.S.) credit facility with a syndicate of financial institutions -- several banks looking to spread the risks as well as the profits in other words. The financing includes an accordion feature for an additional $100-million (U.S.) subject to additional conditions. Once complete, Discovery will terminate a $100-million (U.S.) senior debt facility it arranged early this year, but which remains undrawn.

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