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by Stockwatch Business Reporter
New York spot gold lost $4.40 to $1,960.20 on Friday while the TSX Venture Exchange edged 1.36 points lower to 610.32. The TSX gold index lost ground today, dropping 3.69 points to close at 289.11. Most Canadian gold miners drifted downward today, led by McEwen Mining Inc. (MUX), which fell 64 cents to $10.08 on 32,000 shares, and Novagold Resources Inc. (NG), which fell 17 cents to $6.94 on 153,000 shares. Kinross Gold Corp. (K) was northbound again today, adding two cents to $6.47 on 4.18 million shares following a 16-cent gain on 6.45 million shares yesterday. None of them has had news to share this month.
Scott Berdahl's Snowline Gold Corp. (SGD) fell six cents to $3.29 on 117,000 shares on word it has nearly doubled its Rogue project in the Selwyn district of Yukon to nearly 95,000 hectares. The new staking, the company cheers, has locked up "substantially all remaining open ground over the Rogue plutonic complex" -- not all of it in other words -- consolidating most of the broad geological feature deemed responsible for the gold at the company's Valley discovery.
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