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by Stockwatch Business Reporter
New York spot gold fell $2.20 to $1,791.70 on Wednesday. The TSX-V rose 5.89 points to 669.72, while the TSX gold index added 0.01 point to 245.69. Most Canadian gold miners moved higher. Lundin Gold Inc. (LUG) did well, adding 51 cents to $9.67 on 349,000 shares. The company had help, as it revealed late Tuesday that it posted a $56-million (U.S.) profit in the second quarter. Osisko Gold Royalties Ltd. (OR) did not fare as well with its news. It dropped 40 cents to $13.23 on 648,000 shares on word it earned $16.57-million in its second quarter.
Scott Perry's Centerra Gold Inc. (CG) slumped $1.73 to $6.27 on 4.61 million shares. Centerra lost $2.6-million in its second quarter but is nevertheless continuing with its seven-cent quarterly dividend. Just two years ago, Centerra's stock was flirting with the $20 mark and early this spring it was handily above $13. Its most recent slide began with word that the company was suspending production at its Oksut mine. Now it has trimmed its production guidance and predicted higher operating costs.
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