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by Stockwatch Business Reporter

New York spot gold continued its slide, dropping $19.80 to $1,828.60 on Monday. The TSX Venture Exchange lost 13.43 points to 545.45 while the TSX gold index dropped 6.73 points to 245.65. Most Canadian gold miners moved lower with bullion yet again. Iamgold Corp. (IMG) lost 17 cents to $2.76 on 1.23 million shares while Franco-Nevada Corp. (FNV) shed $3.35 to $177.98 on 575,561 shares and Newmont Corp. (NGT) dropped $1.60 to $48.56 on 494,000 shares.

Those miners with news -- good news -- fared no better. Patrick Godin's New Gold Inc. (NGD) lost four cents to $1.21 on 1.89 million shares on word it has completed its first draw bell in the C-zone at its New Afton mine in British Columbia. (The mine employs block caving underground mining methods -- ore is undercut so that it caves in bulk to levels below. A draw bell essentially acts as a funnel to facilitate the caving ore to break into smaller chunks for easier processing.)

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